Free «Marketing Globally» UK Essay Paper
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Deloitte Touche Tohmatsu Limited, frequently referred to as Deloitte or Deloitte Consulting,is a global firm based in the United States that offers professional services. The company provides accounting, audit, enterprise risk, financial advisory, and other related professional services (WetFeet (Firm), 2014). Currently, Deloitte Consulting operates in over 150 states. Some of the branches that Deloitte has invested in are in India, the USA, Germany, and France. The paper will focus on the 4 Ps of the marketing mix in relation to the following six elements: competition, target market, product strategy, distribution strategy, communication strategy, and pricing strategy.
The 4 Ps of Deloitte Consulting
Deloitte offers services associated with consulting, financial advisory, audit, enterprise risk, and tax. In the market, the firm competes with McKinsey & Company, Inc., Bain & Company, Inc., and Accenture Public Limited Company. In addition, the company targets such industries as banking, information technology, as well as small, medium-sized, and large organizations like Dell and Samsung. Deloitte assists executives to conduct the decision-making process, devise effective strategic choices relevant to the modern market, and reach the set objectives. The distribution strategy utilized is the selective strategy, which entails selecting a few offices with the perspective of offering the company’s services in the market. Communication is initiated on a direct and indirect platform in order to implement and provide company’s services. Lastly, in terms of pricing, the firm utilizes the penetration strategy by offering lower prices as a way of reaching out to potential clients.
The price rates offered by the organization range from service to service. The prices usually can be negotiated with the parties concerned. The primary competitor of Deloitte in terms of price is Accenture Public Limited Company, the goal of which is to attract more clients. Deloitte mainly targets banks, small and medium-sized organizations, and learning institutions because it considers them price worthy. The product strategy Deloitte applies is the positioning concept, which entails offering prices that are captivating for the end user. The distribution approach used is the intensive strategy. It helps in the distribution of services that are cheap but affordable meant, which facilitates the development of the market share. The company employs the indirect communication strategy in order to ensure that potential customers have a proper understanding of the available services. The price skimming strategy is encouraged because Deloitte is an established organization with the perspective of gaining maximum advantage before other competitors start offering similar services. It is the reason the firm has relatively friendly prices for quality a service delivery (Ertel et al., 2014).
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Deloitte utilizes various media, such as Facebook, Twitter, Google, Pinterest, and their website platform, to promote services. The major competitors that use the same media platforms are McKinsey & Company, Inc., Bain & Company, Inc., and Accenture Public Limited Company. The promotion of the company’s services is realized via the expansion strategy, and Deloitte targets banking institutions, information technology companies, and marketing firms among others. In terms of distribution, promotion is initiated via the intensive strategy, and the services offered affordable to target customers. The communication strategy the company uses in the promotion of services is the advertising strategy. It ensures that the parties involved are well-informed about the services Deloitte offers. In addition to the traditional means of advertising, the firm uses Facebook, Twitter, and other social networks to advertise their services. The pricing strategy utilized is the psychological pricing strategy, which aims to convince clients that Deloitte is cheap and fare in terms of their services.
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The company operates on a huge platform as a way of catering for the needs of their clients. Deloitte is an international organization, and, hence, it competes with other global firms such as McKinsey & Company, Inc., Bain & Company, Inc., and Accenture Public Limited Company. The company targets many countries of the world; as a result, their offices are located in a variety of states. The product strategy initiated is the premium strategy that ranges from one place to another so as to ensure that the firm is able to reach all places that it has invested in. The services are distributed from one place to another via the exclusive distribution strategy. In the company’s headquarters and offices, communication is initiated through verbal and digital platforms. Pricing varies in different countries because the company tries to adapt to the environment it operates in.
Differences Observed in the Implementation of Concepts From one Country to Another
In France, Deloitte Consulting offers a standard package of its services, including consulting, financial accounting, and financial advisory among other related professional services.
The main difference is that Deloitte Consulting conducts its activity in France using Euros as the main currency. As a result, the prices are adjusted to the official French exchange rate.
The promotion of the company’s services is initiated not only via media platforms such as Facebook, Twitter, and Pinterest but also through various French sites, using French as the primary language. However, they use English to promote and advertise services and conduct communication as well. That is an appropriate approach as it ensures that each party understands the contents of the organization.
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Deloitte is headquartered in the capital of France, and it has offices in other big cities as well, where it is able to offer service to any firm that is need of audit and consulting. Locating the firm in both the capital and other big cities is a strategy practiced to reach clients effectively.
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