Question

For a business plan for a small Accounting firm - What is the marketing mix section. Can you give an example?

Answer 1

The marketing mix of a accounting firm can be defined as all set of marketing tools whether controllable or tactical applied by the firm so as to capture a desired market share or have response from the target market. Here the tools applied involves each and every thing which it can do to influence the raise of their products demand.

The Accounting firm uses a mix of 1) their product range, 2) the different range of product’s cost, 3) application of their services in various parts of company’s operation. Moreover, the firm’s ability to promote the products to various types of clients can also be counted as a mix tool which is used to capture the market.

The Accounting firm’s product includes the services towards the maintenance of the books and fulfilling all the statutory works related to accounting and legal work of the company. The records with the existing clients will count as the added advantage to the accounting firm.

The cost of various services like accounts maintenance, tax filling, statutory records, auditing, finalization of the accounts, maintaining share records, etc. are different for different industry. The firm could well explore these distinct advantages to capture the accounting market.

The various tactics which the accounting firm can apply to expose their advantages and services and promotion can well be applied to expand the business to new clients and raise their revenues.

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