suppose that you are a managing partner of a local accounting firm, responsible for the business development. there are around 50 staff members in the firm. currently the business has two units, assurance service and taxation accounting services. now the firm plans to expand its business into business information system consulting area.Using marketing 4Ps as a tool, discuss how the firm can develope its new business in IT consulting?

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Asked Nov 21, 2019
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suppose that you are a managing partner of a local accounting firm, responsible for the business development. there are around 50 staff members in the firm. currently the business has two units, assurance service and taxation accounting services. now the firm plans to expand its business into business information system consulting area.

Using marketing 4Ps as a tool, discuss how the firm can develope its new business in IT consulting?

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Expert Answer

Step 1

The 4p’s were created by marketing E. Jerome McCarthy in 1960.Marketing is a variety of different factors that can influence a consumer’s decision to purchase a product or use a service. It most commonly refers to the 4p’s of marketing- product, price, promotion, and place. Each P stands for a different element that influences a consumer’s decision-making process.

 

Step 2

Product: The product can be goods or service. Here, the firm is providing consulting service in the field of information technology. The product is for other firms. Hence it’s a B2B product.

Price: The price varies for every project in the information technology sector and it depend on the client negotiation, project duration, software’s, other tool used as well as on the competition. Since the firm is providing a new product, it should provide it initially at a low price to attract customers in all the industry.

 

Step 3

Place: The place can be either the consultancy firm or the client’s location. That is on shoring or off shoring depending upon the projec...

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