Intuit Company Marketing Essay Case Study

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Intuit Company Marketing Essay Case Study Introduction

Considering an increase in the market competition, it has become important for business enterprises to analyse their business position in the market. It would help to evaluate the changes to be adopted by business occurred in the market through conducting SWOT and PESTEL analysis. These frameworks would help the enterprise such as the Intuit Company to assess the external and internal changes in market and manage business operations successfully. The study sheds light on the key information of Intuit Company along with internal and external analysis to help the organisation identify challenges and benefits associated with business and enable it to adopt effective strategies to convert threats available business into and opportunities.

Intuit Company

Company name

Intuit Company

Type of Industry

Enterprise software

Headquarters

Mountain View, California, US

Sales/Revenue

$5.177billion

Area Served

Worldwide

Number of stores

19 locations nine countries

Competition

Net suite, Xero , Freshbboks

USP

Develops Software that is applied for solution of financial management

Target Group

Business clients worldwide

Products

Software of tax return, Accounting software and personal finance

Website

Intuit.com

SWOT Analysis of the Intuit Company

Strengths

Weaknesses

  • Production innovation
  • High customer satisfaction
  • More investment over technologies
  • Inefficient financial planning

Opportunities

Threats

  • Economic uptick
  • Investment in technologies
  • Higher competition
  • Enhancing trend towards isolationism

Table 1: SWOT Analysis

(Source: Intuit.com, 2019)

Intuit Company Marketing Essay Analysis

Strengths

As per the case study of Intuit Company, it enjoys product innovation by maintaining an accurate track of the information about the developing latest product in the market. It helps the organisation to provide innovative services to the customers and gain maximum profits. As per the case study of Intuit Company, it contains a CRM department which is dedicated towards the development of strong relationship with the customers by managing effectively their issues and feedbacks. 

Weaknesses

As per the case study of Intuit Company, One of the most considerable weaknesses is its inefficient financial planning which could create an adverse impact on the financial stability of business. As per the case study of Intuit Company, the current ratio states that it has the ability of applying cash in business more efficiently (Intuit.com, 2019). As per the case study of Intuit Company, it does not invest much amount in adoption of effective latest technologies which is obstructing the company to develop its business activities (Bull et al. 2016). Effective management of these issues are important such issues could create a negative impact on a company's financial performance.

Opportunities

As per the case study of Intuit Company, it has multiple opportunities of improving its business activities maximising quality of services through investing more financial resources in the latest technologies’ implementation. It would help the organisation to gain competitive edge in the software industry. As per the case study of Intuit Company, it could expand its business further to ensure global business presence considering economic uptick in the US. As US consists of multicultural population having different preferences and tastes, it could help the enterprise develop its products and innovate it accordingly. It would help to meet the varying demands of customers in order to gain large base of customers and sales revenue (Phadermrod et al. 2019). With the increase in profits and sales revenues the organisation would be able to gain competitive edge in the software industry.

Threats

As per the case study of Intuit Company, it is facing intense competition in the market with other accounting software brands such as Xero, Netsuite and others which could obstruct it from developing business operations globally. As per the case study of Intuit Company, ruse in the trends towards isolationism could negatively affect the overall business performance and scope of the enterprise. The US government is becoming very active towards establishment and administration of effective legal policies, adoption of which creating threats for the organisation as it is facing a reduction in employees. With the reduction of employees it is becoming difficult for the enterprise to carry out business activities effectively.

PESTLE Analysis of the Intuit Company

Factors

Impact

Political

  • Political stability
  • Strong FDI

Economic

  • Economic recession in the year 2009
  • Largest GDP

Social

  • Multicultural population
  • Changes in customer's preferences

Technological

  • Successful adoption of technologies
  • Heavy cost towards implementation

Legal

  • Data Protection Act, 2019

Environmental

  • Increase intervention of government towards environmental protection

Table 2: PESTLE analysis

(Source: Influenced by Grafova et al. 2017)

Intuit Company Marketing Essay Analysis

Political factors

The political stability of the US plays a major role in enabling business enterprises carry out activities and expand it effectively. Additionally, strong FDI arrangements in the country encourage business organisations such as Intuit Company to enhance business activities and globalise business successfully. 

Economic factors

In GDP terms, US is the largest economy, which is beneficial for accounting software organisations such as the Intuit Company to expand business productivity and gain maximum profits for gaining targeted business goals. However, the recession in the years 2009 has created a negative impact on the industry’s developments which has obstructed the enterprise towards further development of business.

Social factors

USA enjoys 3rd largest population across the globe with 326 million. This creates major opportunities for the enterprise to gain a large base of customers by providing them with a wide variety of products and possessing innovative quality. However, with frequent changes in the customers’ preferences, it becomes a challenge for Intuit Company to innovate its products accordingly and satisfy customers’ needs. 

Technological factors

US is considered as a global leader in the field of technology and science. It adopt latest technologies very effectively, which provides substantial benefits to the enterprises such as Intuit Company to implement those technologies into business for ensuring quality and innovation in products (Nyberg, 2019). However, implementation of the technologies involves a high investment of financial resources along with training costs in Intuit Company which could affect its financial performance. 

Legal factors

The US government is becoming very active towards establishment and administration of effective legal policies such as Data Protection Act, 2019, adoption of which creating threats for the organisation as it is facing a reduction in employees. With the reduction of employees it is becoming difficult for the enterprise to carry out business activities effectively. As per the policy it is important for the enterprise to maintain confidentiality of business data for functioning business activities smoothly. This might require provision of effective training to the employees which would consume considerable financial resources. 

Environmental factors

Increase intervention of government towards environmental protection is putting pressure on business enterprises to carry out business activities ethically and ensure that the activities are not negatively affecting environmental sustainability. Intuit company carries out CST activities effectively to sustain in business for long term and ensure environmental sustainability.

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Reference List

Bull, J.W., Jobstvogt, N., Böhnke-Henrichs, A., Mascarenhas, A., Sitas, N., Baulcomb, C., Lambini, C.K., Rawlins, M., Baral, H., Zähringer, J. and Carter-Silk, E., (2016). Strengths, Weaknesses, Opportunities and Threats: A SWOT analysis of the ecosystem services framework. Ecosystem services, 17, pp.99-111.

Grafova, T.O., Skorev, M.M., Andreeva, L.Y. and Kirischeeva, I.R., (2017). Tools of financial management of reputational risks. European Research Studies, 20(3B), p.280.

Intuit.com, (2019). About the Company, Available at: https://www.intuit.com/company/ [Accessed on 4h September, 2019]

Nyberg, C., (2019). Intuit, Inc.’s Small Business and Self Employed Unit: A Strategic Analysis.

Phadermrod, B., Crowder, R.M. and Wills, G.B., (2019). Importance-performance analysis based SWOT analysis. International Journal of Information Management, 44, pp.194-203.

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