Marketing Strategy of Accenture – Accenture Marketing Strategy: Accenture is the global leader in professional services & management consulting. The company was founded in Dublin, Ireland in 1989 and has since been thriving in over 120 countries worldwide. It serves three-quarters of Fortune 500 clients. It has five businesses that offer integrated solutions and technology-enabling solutions to clients.
The company recently rebranded its logo by branding each of its business segments and positioning itself as a new-age digitally advanced company offering customer-oriented solutions.
Accenture At A Glance – Marketing Strategy of Accenture
Company: Accenture plc
CEO: Julie Sweet
Founder: Clarence DeLany
Year founded: 1989, Hamilton, Bermuda
Headquarters: Dublin, Ireland
Annual Revenue: US$50 billion
Profit | Net income: US$13.42 billion
Number of employees : 6,74,000
Products & Services: Life Insurance & Annuity Platform (ALIP) | Comms & Media | Accenture Cloud | Accenture NewsPage | Public Service | Life Sciences
Competitors: Cognizant | TD SYNNEX | Capgemini | CGI, Atos | Infosys | Ernst & Young | PwC | McKinsey & Company | Boston Consulting Group | Bain & Company | Tata Consultancy Services (TCS) | Deloitte | DXC Technology | SAP | IBM Global Services | Coastal Cloud | KPMG | Skaled | Wipro
Accenture Fun Facts: The name “Accenture” was suggested by Kim Petersen, an employee of the company at an internal competition, which was held at the company’s Norway office. The name is derived from a combination of the terms, Accent and Future.
Marketing Strategy of Accenture
Accenture’s Marketing Strategy covers various aspects of the business right from segmentation and targeting to the overall mission and vision of the company and the various parameters which the company executes to become the top brand that it has in the market. So what is the Marketing Strategy of Accenture? Let us discuss.
Segmentation, Targeting, Positioning – Accenture Marketing Strategy
Accenture has clients across more than 40 industries worldwide. To meet changing client needs, Accenture uses a mixture of demographic, psychographic, and geographic segmentation variables.
It caters to the different needs of customers by using a differentiated targeting strategy
Positioning allows you to understand where the products are in the minds of potential customers. It has repositioned its operations by branding them. The company uses a value- and product-class-based positioning strategy in order to connect with customers.
Accenture Mission Statement
“Solving real business challenges of the clients through innovation and deep industry knowledge”
Accenture Vision Statement
“The people to lead, the knowledge to transform and vision to transform”
“High Performance, Delivered”.
Competitive Advantage – Marketing Strategy of Accenture
Strong portfolio: Its presence in interrelated operating groups and services is helping the company to create an efficient ecosystem for its clients and provide operational support for them in addressing their problems digitally in the most effective way.
The Group is financially strong: With such a broad product/service portfolio, each business segment offers its services across 40 industries, and the company has become the largest global consulting company by revenue.
The workforce for Millennials: It has employed more than 1, 50,000 Millennials out of its 4, 20 000 employees in the last three years, investing over $1000 million in training to improve its Workforce structure.
BCG Matrix – Accenture Marketing Strategy
The company has five business units/ segments, namely Communications, Media & technology, and financial services. Products and Resources cater to the diversified industry needs under each of these 5 business sectors.
These communications, Media & Technology, and Products are the Stars of the BCG matrix, while the other two are considered question marks.
Distribution Strategy – Marketing Strategy of Accenture
Accenture’s Value delivery System is the main differentiator. It assists the brand with the development of scalable and standard processes that allow them to deliver services in a cost-effective way and emphasize quality and productivity.
With the assistance of more than 40,000 professionals worldwide, it delivers its services to clients from more than 60 locations.
Brand equity – Accenture Marketing Strategy
Accenture was ranked 38 the most valuable brand in 2017 Forbes magazine lists. It was also ranked 37 on the Interbrand 2017 list. According to the capitalization method, the brand’s value was $77.8billion as of May 2017. It generated revenue of $36billion. The brand is a leader in global consulting services.
Competitive Analysis – Accenture Marketing Strategy
It is a highly competitive market with many competitors.
The company competes with companies such as CSC, IBM, and Microsoft. Different factors play a role in different business models, such as brand pull, innovative products/services, technical know-how, efficient values chain, reach & scale of operation, and presence in emerging markets.
Market Analysis – Marketing Strategy of Accenture
While Accenture’s business segments are most heavily dominated by emerging markets, a significant portion of its revenue comes from developed countries. In volatile markets, such as those impacted by government regulations, political stability, labor cost, and competition among rival companies, developing economies play an important role in controlling operating costs.
Customer Analysis – Accenture Marketing Strategy
Accenture’s Customer Groups include MNCs, government organizations, and institutions from diverse industries. Accenture has a wide range of services, so its customer base varies depending on which type of service is offered to each industry player.
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