Formulate a Marketing Strategy for a Newly Established Accountancy Business

Smith, Sarah Louise (2007) Formulate a Marketing Strategy for a Newly Established Accountancy Business. [Dissertation (University of Nottingham only)] (Unpublished)

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Abstract

Ridge & Smith Associates Limited (R&S) are a newly established firm of Chartered Management Accountants based within the East Midlands. The purpose of this report is to formulate a Marketing Strategy that R&S can adopt within their business.

During the formulation of this strategy background research identified that the UK Accountancy Market was a competitive one, however, it also showed evidence of continued growth as did the East Midlands economy in which R&S are operating. Primary research was conducted so as to gather information specifically in relation to the East Midlands Accountancy Market as this was unavailable from existing research. The design of the primary research was informed by the undertaking of a detailed literature review with key concepts and issues from the Strategic Management and Marketing disciplines being utilised.

So as to provide a variety of perspectives, the primary research was conducted with three stakeholders groups namely one of the directors of the business, competitors and customers and this was carried out through a means of face to face interviews and postal questionnaires.

In analysing the findings of the primary research several key factors were highlighted which needed to be incorporated into the recommendations for R&S's Marketing Strategy. These included the requirement for R&S to reassess their chosen target market, suggestions on how they would be best to differentiate from their competitors and the importance of creating the correct brand image. Criteria were provided on which the suitability of alliances with competitors could be assessed and the requirement for them to protect and develop their resources was highlighted. Finally the analysis identified how a relationship approach to marketing could be used by R&S as a foundation to support their chosen marketing strategy be it in how they target their customers, how they differentiate and how they promote their offering.

Following the completion of this report the recommendations regarding the formulation of a Marketing Strategy, including proposals for areas of further research, will be presented to the directors of R&S for their consideration.

Item Type: Dissertation (University of Nottingham only)
Depositing User: EP, Services
Date Deposited: 19 Nov 2007
Last Modified: 23 Oct 2016 02:47
URI: http://eprints.nottingham.ac.uk/id/eprint/21006

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