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Target market and segmentation - Research Paper Example

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It is mainly based in Indianapolis and is likely to provide its services to the residents of Indianapolis as well as the people who come from the nearby towns. The accounting firm is made…
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Target market and segmentation
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"Target market and segmentation"

Download file to see previous pages There is a special emphasis on the small to medium sized business. The businesses that are likely to benefit most from the services offered by Capstone accounting firm include the non-profit organizations, servicing entrepreneurs as well as individuals (Trugman & Person, 2005).
Based on the competition that already exists in Indiana with regards to the accounting firms available, the firm will not be that big. It will begin as a small firm that only caters for the needs of individuals and the small and medium firms.
From what has been projected by the US Bureau of statistics, since the accounting jobs are projected to grow at a rate of 13% between 2012 and 2022, the capstone firm is likely to grow at the same rate or at a slightly lower rate of 10% per year. This is the growth rate of the target markets. This is reflected as a result of the growth of the already established markets as well as the movement into the Indiana area. This growth rate has plateau for a long time but is expected to gain stability in the near future. This is based on the constant need for accountancy jobs in the area. In addition, there is evidence that the consulting services are growing much faster that the auditing business. This will enhance growth as it will be possible to diversify the kind of services offered. There is also a great need for accountants as the economy of the region also grows. It is projected that the demand for accounting services will be increased and converted to billable hours due to the impact of the regulatory environment and the stricter laws and regulations placed on the financial sector (Ahmed & Hopson, 2000).
The most common unique features and dynamics of the business include the fact that the business can offer services for the low unemployment and the tax incentives for new businesses. As such, the firm will only begin at a small scale. However, it is indicated that with a longer stay into the market, full range services that offer services to the ...Download file to see next pagesRead More
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