The Marketing mix of Accenture analyses the 4Ps of Accenture’s marketing strategy, which includes the Product, Price, Place, and Promotion of Accenture. Accenture is a public ltd company with technological services, management consulting, and outsourcing. This multinational corporation is the largest consultancy firm in the world regarding revenues collected.
Accenture was founded in 1989 and has its headquarters in Dublin, Ireland. The company’s client list proves it has become the obvious choice of consultancy and technological services. Out of the first hundred people in Fortune Global, ninety of them are the clients of this global corporation. Its chief competitor in today’s market is IBM.
- Type: Multinational professional services company
- Industry: Information technology (IT) consulting
- Founded: 1 September 1989
- Founder: Arthur Andersen
- Headquarters: Dublin, Ireland
- Area served: Worldwide
- Key people: Julie Sweet (Chairman) and Julie Sweet (CEO)
- Number of employees: 713,000
Table of Contents
Accenture Product Strategy
Accenture is committed to providing the best possible services and products with its efficient team of specialists, experts related to the industry, and professionals knowledgeable about the current market trends. The company aims to help the client in achieving his goals and vision. The clients are served with expert technology, consulting, and outsourcing services. Accenture has become the largest service provider with a proven record of accomplishment. The various products, technology consulting division and services of Accenture are as follows-
- Consulting– The company puts its onus on management consultancy. It focuses on processing design works and proper technological applications in business. Accenture is also responsible for delivery, sales, and project-based work.
- Services– Accenture focuses primarily on outsourcing engagements related to HR, help-desk services, business operations, maintenance, development, and IT applications. The company also works on consulting projects.
- Solutions– Accenture emphasizes the unique and distinct technological skills needed to deliver projects.
- Enterprise– The Company supports and manages all the business activities related to the client’s security, legal aspects, marketing, facilities, and financial management.
- Consulting Services: Management Consulting: Accenture provides consulting services to help organizations improve their operations, strategy, and overall business performance. Technology Consulting: They assist clients in adopting and implementing cutting-edge technologies and digital solutions to transform their businesses.
- Technology Services: Application Services: Accenture helps clients design, develop, and maintain software applications and IT systems; Infrastructure Services: They offer infrastructure management and cloud computing services to optimize IT operations; Cybersecurity Services: Accenture provides cybersecurity solutions to protect organizations from digital threats and breaches.
- Digital Services: Digital Transformation: Accenture helps businesses embrace digital technologies, such as AI, IoT, and data analytics, to drive innovation and enhance customer experiences. Interactive: They create digital marketing and customer experience solutions to engage and connect with customers across various digital channels.
- Outsourcing and Managed Services: Business Process Outsourcing (BPO): Accenture manages specific business processes and functions for clients, such as finance and accounting, HR, and procurement; Operations and IT Outsourcing: They offer outsourcing services to help clients streamline their operations and IT functions.
- Industry-Specific Services: Accenture provides industry-focused services tailored to specific sectors, including financial services, healthcare, energy, retail, and more. These services address the unique challenges and opportunities within each industry.
- Analytics and Data Services: Accenture leverages data analytics and artificial intelligence to help clients gain insights, make data-driven decisions, and improve business outcomes.
- Sustainability Services: They assist clients in developing and implementing sustainability strategies to reduce their environmental footprint and enhance corporate social responsibility.
- Training and Learning Services: Accenture offers training and learning solutions to help organizations upskill their workforce and adapt to evolving technology and business trends.
- Research and Insights: Accenture conducts research and publishes reports and insights on various business and technology trends, providing valuable information to clients and the broader business community.
Accenture Place Strategy
Accenture is a global company serving clients in over fifty-six countries and two hundred cities worldwide. India has a record number of employees, more than any other country. In the US alone, it has over 40.000 employees, and in the Philippines, nearly 35,000. Accenture’s corporate policy is unique and elite.
The company is determined to provide a value-based superior experience to maintain its loyal brand of customers. Accenture believes in maintaining direct relationships with its customers. To do so, they have established a network of efficient team members who have been groomed to learn, grow, and develop their potential to serve the multinational company better.
As part of the direct dealing program, the team members respond to clients’ needs and queries reasonably and timeously. It results in open communication and effective relations with suppliers, partners, customers, and others. The company’s distribution channel consists of innovating, operating, marketing channels, collaborating, and delivering its value-based products to all its clients worldwide.
Here is the Place Strategy of Accenture:
- Global Network of Offices: Accenture has a vast network of offices and delivery centers worldwide. These physical locations are strategically positioned in major cities and regions, allowing the company to be near clients and provide on-site consulting and support when needed.
- Remote and Virtual Delivery: Accenture employs advanced technology and communication tools to offer remote and virtual delivery of services. This approach allows consultants and experts to collaborate with clients and teams across the globe without the need for physical presence, enhancing flexibility and reducing travel-related costs.
- Digital Platforms: Accenture leverages digital platforms and collaboration tools to facilitate communication and project management between its consultants and clients. These platforms enable real-time information sharing, project tracking, and efficient decision-making regardless of geographical distances.
- Industry and Capability Centers: Accenture has established industry and capability centers of excellence in various locations. These centers focus on specific sectors or technologies and serve as hubs for specialized expertise. Clients can access these centers for in-depth knowledge and solutions.
- Strategic Alliances and Partnerships: Accenture collaborates with technology partners, software vendors, and industry leaders to enhance its service offerings. This collaborative approach expands the company’s reach and allows it to provide clients with access to the latest technologies and innovations.
Accenture Pricing Strategy
Quality does not come cheap; Accenture has always maintained a premium / value-based pricing policy and superior services. Their premium range of consultancy services allows them the latitude to develop a premium-based pricing policy. As their services cover the global marketplace and international client, it also determines their pricing policies to a certain extent. The variety of clients helps them maintain a somewhat flexible pricing policy. Sometimes, they change specific policy rules to satisfy and retain loyal customers.
Here is the Pricing Strategy of Accenture:
- Value-Based Pricing: Accenture’s pricing strategy is primarily rooted in the value it delivers to clients. They assess each client’s specific needs and goals and then customize their pricing based on the perceived value of the services provided. This approach enables Accenture to capture a fair share of the value it helps create for its clients.
- Consulting and Service Bundles: Accenture often packages its services into bundles that align with different industries or sectors’ unique challenges and objectives. These bundles may include a combination of strategy consulting, technology implementation, and ongoing support. Clients can select the bundle that best fits their requirements and budget.
- Time and Material Contracts: Accenture frequently uses time and material contracts for projects where the scope and requirements may evolve. In these cases, clients are billed based on the time and resources dedicated to their project, providing flexibility to adapt to changing needs.
- Fixed-Price Contracts: In some instances, particularly for well-defined projects with clear deliverables, Accenture may offer fixed-price contracts. This approach provides clients with cost predictability and a clear understanding of the investment required.
- Performance-Based Pricing: Accenture may tie some of its fees to performance metrics and outcomes. This aligns the firm’s interests with the client’s goals, emphasizing a shared commitment to achieving measurable results.
- Licensing and Subscription Models: Accenture may incorporate licensing or subscription-based pricing models for software and digital solutions in technology-related projects. This can offer clients flexibility in paying for and scaling their technology investments.
- Volume Discounts: For clients with ongoing or large-scale engagements, Accenture may offer volume discounts, providing cost advantages as the scope of work increases.
- Strategic Partnerships: In some cases, Accenture enters into long-term strategic partnerships with clients, where pricing structures are designed to incentivize collaboration and ongoing innovation.
- Cost-Plus Pricing: Accenture may utilize a cost-plus pricing model in cost-intensive projects, adding a predetermined markup to their costs. This approach ensures profitability while maintaining transparency.
- Competitive Positioning: Accenture monitors competitors’ pricing strategies and adjusts its pricing to remain competitive. This involves considering market rates for similar services and evaluating how its value proposition differentiates it from rivals.
Accenture Promotion Strategy
Accenture has a proper, strong, and effective advertising policy that includes advertising in visual, print, and social media platforms such as television, newspapers, and public frequenting places like airports worldwide. The company has also sponsored many events in the international arena, such as “Accenture Match Play Championship” and the “World Golf Championships.” Accenture was also imitated in “Bigtime Consulting,” a webcomic.
From 2005 to 2009, the company signed the famous golfer “Tiger Woods” as its brand ambassador and spokesperson and released many slogans for online advertising with a dramatic effect. The slogans “Go on, be a Tiger” and “We know what it takes to be a Tiger” were used to cash in on the celebrity status of the golfer. Presently, the company uses the slogan “High performance. Delivered,” the campaign for the advertisements includes the clients’ success stories. Their advertising campaign has a global feel and has helped the company move forward.
Some Recent Video ads and Print ads of Accenture are:
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