A Marketing Plan for Successful Market Entry for Accenture - Coursework Example

A Marketing Plan for Successful Market Entry for Accenture Executive Summary Accenture as a major provider of consulting, technology and market outsourcing globally has diversified its operations in more than 52 countries and operations in over 200 cities. The company has a good and efficient human resource tapping talent from the upcoming youth to their advantage. This research provides an analysis of the objectives of the company and the strategic approach to the market entries in various markets. The major focus of the company is on the delivery of its marketing services and promotional activities. The company has adopted various unique market mix, internal marketing and integrated market communication strategies efficient for achieving its target in the global market. The management believes that if all its strategies are executed according to plan, then it will be easy for the company to attract big corporate clients to offer their services in marketing consultation. A Marketing Plan for Successful Market Entry for Accenture Introduction Accenture is a leading provider of technology, consulting and outsourcing functions in the world. With its presence in over 52 states, the company has its operations in more than 200 cities with total staffs of about 177,000 worldwide. The company’s mission is to become the of the globe’s top companies harnessing innovations to develop the way the world lives and works. The company’s marketing function has been accorded the most critical duty of establishing the potentials and the infrastructure to energize what is termed as agile intelligent marketing. The company covers all elements of marketing, from digital marketing, digital consulting, management of media and marketing analysis (Vanthournout, 2006; p. 102). The Accenture’s interactive techniques and assets enhance a closer association between the technology and marketing functions, which drives the company towards a mutual final goal: relevance of the customer. The marketing function within the company provides a composite suite of technology, analytics and consulting to propel the performance of marketing function, cut down the cost per market interaction and establish an appropriate encounter on a vast scale (Caywood, 2012; p. 151). This discussion analyzes successful market entry strategies for Accenture in the various regions worldwide with focus on the marketing mix and the integrated marketing communications. Accenture Marketing objectives Accenture has established a two steps task objective technique of promotional activities. The company’s marketers are allowed to describe and define a relevant communication target that they wish promotional mix to attain. As such, the major marketers within the company have set an objective to achieve 25% rise in the brand awareness of the company. The second step is to establish the amount of category of promotional activity needed for every objective that has been set. The target market for Accenture comprises some of the most top decision makers in the globe’s most booming firms (Linder, 2004; p. 246). These are the individuals who are very full of activity and seeking their attention is not an easy task. The strategic Approach In spite of the abruptness of events, Accenture is determined to be better positioned to move forward. Therefore, the company aims to create unconventional creative alternatives that do not entail Tiger or a different spokesperson for the next five years so that the brand can have a good shift on new forms of campaigns. As a result the company targets developing a wide set of rules, a compelling set of empirical insights and a good assortment of published work on the forces that drive a high performance and the method the organization can use to achieve them. This perception tied with its unmatched expertise will offer the basis for the new forms of campaigns and incorporated marketing policy (Regis, 2008; p. 236). The actual role before the company is to take all this data and establish a series of research facts and direct insights that can come alive hence enable the company get hold of the target and make the clients to pay attention. To execute this firm aims to turn to a sequence of simplified clever animal’s metaphors that can be implemented in an unusual way. The target is to get the attention of the top 100 Fortune Magazine companies to work by the end of 2014. Moreover, Accenture has the objective of using its standards and reputation as a longstanding High performance firm globally to position its brand in all the continents (Kurtz, 2013; p. 515). Therefore, the management has outlined some of the essential drivers of high standard performance such as innovation, sustainable success, operational prowess and organizational alertness. The promotion will channels concerns that are on the customers minds and perception and expectations hence enabling the firm to express multifaceted business issues in an intelligent metaphors that are appropriate, eventful and easily implicit (Doyle, 2011; p. 416). With new metaphors, the company aims to continue its intensity of using posters (print ads) where by the year 2015, the campaign will reach to approximately 83% of its target customers. Consequently, a fresh program for multi-media communication has already been put in place to boost this strategy. The communication strategy of Accenture is meant to bind the target audience where the company operates such as United Kingdom, United States, some parts of Asia and Africa (Zoratti & Gallagher, 2012; p. 60). Given that the majority of the C-Suite managers travel approximately 50% of the time, the most critical component of channel of distribution by Accenture has been formulated to occupy the airports worldwide with a big, visual posters that the target customers would view when boarding from city to another. Since the airport posters are challenging to implement very fast due to their prolonged lead times, the company has given itself an ultimatum to roll the posters by Christmas holidays. Nonetheless, the company has assembled the appropriate resources to make this dream come true. Already the new metaphors have proven to be successful according to the latest feedback in a qualitative research that was done to some extent surpassing the Tiger Woods campaign (Kotler, Pfoertsch & Michi, 2006; p. 294). Through the campaigns, the company targets to achieve a further unprecedented interest as evidenced through the traffic to its website. The company targets to add a further 20% of the current new customers or viewers after the launch of the new metaphors. Moreover, the company aims to increase by a further 30% of page viewers on daily basis and in the next five years, the advertising overview page should receive 7 million page views with majority being new viewers. The adverting overview page will be modified and updated on weekly basis to increase the visitors downloads by 10,000 every week (Kress, 2010; p. 5). Accordingly, the number of new customers will likely increase by 23% after every quarter of the fiscal year. This will then call for the company to have the most talented web developers and technological experts and marketing experts with ability to develop a creative mind to market the company via social media, print media, company websites and other forms of media (Sluis & Bunt-Kokhuis, 2009; p. 141). Accenture’s Marketing Mix Marketing mix is a commercial representation applied in marketing function by marketing experts. The mix is normally critical when establishing a brand offer and is often connected to 4Ps of marketing; product, price, place and promotion. However, Accenture uses the extra 3Ps, which are processes, provision of customer service and physical layout of the company. Due to mounting globalization, there is increasing competition and transformation of the market economics. There are new routes of competition in the marketing and market consultation service, which are virtually in every section of the globe and hence eroding the feeble bonds of customer loyalty to the company services (Milošević, 2003; p. 176). Consequently, the company has established itself strategically using the 7Ps of marketing. Product The company does its best to make sure that its products are well received and appreciated by the consumer firms. This has made the company to win awards from fortune magazine and Diversity inc. as a company that is best to work with based on the quality of products, which are consultation services and marketing services (Nunes & Johnson, 2004; p. 3). Price The company has ensured rapid commoditization to minimize on the price pressure, which tends to undermine the source of service differentiation. Therefore, the pricing of its services are competitive with other firms in the industry even though Accenture’s positioning has helped it attain a good customer loyalty (Kotler, Keller & Lu, 2009; p. 233). Place Accenture has made it possible to have its presence in all the continents based on its research on the varying customer values on top of the emerging new consumer segments globally both in the developed and developing economies. The company realizes that new markets enhance new sources of development with new customer experiences. The distribution of its products has been successful through establishment of subsidiaries in the various states to enhance service provision (Taylor, 2005; p. 264). Promotion The company has focused more on digital marketing and integrated marketing communication to make its services known to the big players in the market. Hence, the managers conduct aggressive marketing through the digital media to get the attention of the big players in the industries. Process, physical layout and provision of service The processes of doing business by the company are simple but highly sophisticated hence achieving better outcome for the company (Accardi-Petersen, 2011; p. 215). The processes of dealing with customer complaints, needs and handling customer demands are very simple to enhance satisfaction of customers. The physical layout of the company is instrumental in promoting the company image (Sharma, 2009; p. 121). Thus, the company has attractive buildings and good layout as well as effective addresses offered through digital media to enhance accessibility of the consumers to the company. Gantt chart ¨C mapping of proposed activities Activity Predecessor Time estimates Expected time (months) Opt. (O) Normal (M) Press. (P) Airport Posters — 2 4 6 4.00 Digital Print — 3 5 9 5.33 Social media Airport Posters 4 5 7 5.17 Service upgrade Airport Posters 8 6 10 6.33 Brand focus Digital Print, Social media 4 5 7 5.17 Diversification of operations Brand 3 4 8 4.50 Integrated marketing communication Integrated marketing 3 5 8 5.17 Source: (Gantt, 1974; p. 7) Internal marketing One of the fundamental tenets of Accenture is its Modern Marketing Manifesto, which is aimed at developing the customer encounter by focusing on contemporal marketing. The manifesto declares that customer familiarity concerns their centricity as perceived by the service that delivered by the firm through channels of distribution (Rosenbloom, 2009; p. 12). The company has the desire to respect the authority and significance of great design. Therefore, through digital technology the company is presented with rich opportunities to establish a customized experience. Thereby, the understanding of customer sensitive points will boost the coherent plan over various channels. Provision of efficient customer familiarity will entail facing activities such as service, marketing and sales (West, Ford & Ibrahim, 2010; p. 116). Accenture intends to absorb various genres of data, estimate the model experience, congregate the experience and deliver it regularly to its clients through preferred channel. This will be possible since the company has appointed an individual accountable for end-to-end consumer encounter (Czinkota & Ronkainen, 2013; p. 521). The company has also defined what success should be and offered a benchmark over the best conduct in the industry setting a pace for the rest the firm sin the market. The firm has developed an agile, interactive model of delivery for its services to the customers and ways of measuring the evolvement (Bullen et al., 2010; p. 143). Integrated Marketing Communications The integrated marketing campaign by Accenture makes an increased influence that goes beyond the adverts via social media and targeted occasions. The high performance podcast by Accenture and its outlook concept leadership magazine creates the new advertising channels and the campaign goes beyond its tradition of excellence (Young & Aitken, 2007; p. 41). This goes further whilst the firm establishing Accenture brand and equity in good performance. The company aims to minimize the risks or rectify any damage to brand if available, break through the industry and be noticed by other companies, establish a good image for the operations and lastly brand and possess the high standard performance business idea. The idea is to improve the company’s management and consulting rivalry. The company is focused on assisting to market and deliver the project of consultation across borders as well as create an internal business operation from the global perspective (Freeland, 2002; p. 233) Relationship Marketing In the monitoring and control of its ideas and strategies as well as measuring its achievement, the company aims to sustain a good focus on customer centrism to safeguard their share in the market whilst tackling the deteriorating customer loyalty. The company deals with unpredictable demand, challenges, uncertainty, costs and risks. Most of these processes depend on the inventive Customer Relation Management (CRM) ideas that are enhanced by the SAP technique to hold, sustain and boost the customer value (Havaldar & Havaldar, 2010; p. 33). The solution by Accenture is established on SAP CRM software to offer integrated industry particular methods to enhance and help the consumers who face hardships in the sales, service and marketing departments. The company also provides analytical review and boost anal round perception of entire customer sensitive touch points and distribution channels. This includes centers of interaction, internet, and field agents and channels associates. The control and monitoring is supported by research and experience. The company has created methods and techniques to assist companies create SAP CRM software solution to inspire their exceptional potentials, the exceptional methods of doing business, which defines their success (Keillor, 2007; p. 230). The research by the company indicate that typical abilities are among the three crucial building base for higher performance standards on top of market hub, positioning and performance composition. Conclusion From this analysis it is apparent that Accenture has made its position known in the industry. The company is there to grab the biggest market share. From integrated marketing, relationship marketing and internal marketing the most striking feature is its intend to use digital platforms inclusive of social media to conduct aggressive marketing and get the attention of the bigger corporate clients. The efforts as well as the determinations are visible from the various awards the company has attained and the physical expansion by the firm which indicate that there is still plenty of potential for Accenture as far as market consulting services are concerned. Bibliography Accardi-Petersen, M. (2011). Agile marketing. United States: Apress. Bullen, C. V., LeFave, R., Selig, G. J., & Chittenden, J. (2010). Implementing strategic sourcing: A managers guide to excellent best practices. Zaltbommel: Van Haren Publishing. Caywood, C. L. (2012). The handbook of strategic public relations and integrated communications. Maidenhead: McGraw-Hill Professional. Czinkota, M. R., & Ronkainen, I. A. (2013). International marketing. 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