A Case Study On The Intuit Company Marketing Essay

How Intuit has Performed Compared to Rivals during the Past Three Old ages

Intuit Inc. house face stiff competition in their concern countries both domestically and internationally. Competition has grown in all its concern countries. Note that some possible rivals of the house have greater resource power that ranges from fiscal might, better selling tactics and advanced proficient knowhow in their merchandises and service proviso. However, for the past three fiscal old ages, the house has realized increased growing in its gross.

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To get down with, 2008 financial twelvemonth, Intuit Inc realized 3.1 billion dollars gross. This was an addition of 15percent compared to 2007 financial twelvemonth. In 2009 financial period, the company realized 3.183 which translate to four per centum growing. For the 2010 financial twelvemonth, the house realized 3.455 billion dollars which represent a 11 per centum addition. This growing was attributed to good public presentation in little concern subdivision of the Intuit Inc and the acquisition of the Digital Insight in early February 2007 ( Intuit ) . This was an impressive public presentation for the house given the competition that was being witnessed in the market. However, other elephantine houses like Microsoft Corp. posted more net income index during the same fiscal twelvemonth.

For case, ferocious rivals of Intuit Inc. include Symantec Corp. the company comparable 2008 financial twelvemonth had a entire gross of 1.540 billion dollars which represented a five per centum growing over the comparable period of the old twelvemonth ( 2007 ) ( Symantec Corp ) . In the 2009 financial twelvemonth, the gross was valued at 1.67 billion dollars with still represents a five per centum growing rate. While in 2010 financial twelvemonth, the house recorded 1.70 billion dollars which represent a growing rate of one per centum. In comparing to Intuit Inc, we realize that Intuit Inc. had made great growing betterment since its growing rate over the same periods ; growing rate was higher compared to Symantec Corp.

On the other manus, Citrix Systems, Inc. which is besides a possible rival to Intuit Inc. had impressive public presentation in the same period of the past three financial periods. For case, in 2008 financial twelvemonth, it posted 1.58 billion dollars entire gross which was above the old 2007 financial twelvemonth where it had posted 1.39 billion dollars ( Citrix Systems, Inc ) . This represented a 14 % growing rate which is close to Intuit Inc. growing rate at the same comparable period. In 2009 financial twelvemonth, the house recorded entire net income of 530 million dollars which were up from 451 million dollars of the old twelvemonth. This represented a 17 per centum growing in its gross doing it to hold a much more impressive growing rate that Intuits Inc. For 2010 financial twelvemonth, the house recorded one-year gross of 1.87 billion dollars which were once more a growing stand foring 16 % addition. This was higher growing rate than Intuit Inc. therefore presenting a competition menace. Although the entire gross of Citrix System, Inc. was smaller compared to Intuit Inc, its high growing rate shows that it is spread outing its competitory impacts on the market more that Intuit Inc. This therefore poses a ferocious competition menace to Intuit Inc.

Resources and Capabilities Involved in the Intuit Inc.

Intuit Inc. has several resources and capablenesss that it applies in its concern procedures that have continued over the period be value concatenation for its concern activities. This capableness comes from the organisation of its concern. To get down with, it organizes its concern into four divisions which are Tax, Small Business Group, Financial Institutions and Other Businesses. This classification of concern operations have given Intuit Inc. better organisation of its services compared to its rivals in the market. In comparing to Symantec Corp, which is its closest challenger, it has categorized its concern operations in footings of little concern, mid size concern, endeavor concern and industry concern is posting a little growing rate. This has led to difference in market public presentation experienced between the two houses. On the portion, Citrix Systems, Inc. it has categorized its concern capablenesss in footings of desktop, waiter, web and cloud services that are offered to any sort of concern. This provides differences experienced in these companies fiscal public presentation.

In add-on, the Intuit Inc. has employed success tactics of linking people to their services and to one another ( Intuit Inc ) . They have carried out through on-line connexion of clients to their services which are designed to supply value and benefits to their clients. They have besides connected their services to their package whereby they offer services such as online QuickBooks which is an online paysheet services peculiarly for little concerns. These have continued to function as a competitory arm over their challengers ( Intuit Inc ) . Last, they connect client to client where by clients are able to portion thoughts and information hence enabling them to work out some jobs together. In comparing to its sensed challengers, these services are non offered and hence they successfully serve as Intuit Inc. competitory advantage.

Business-Level Tacticss in the Digital Book Reader Industry

Digital book reader industry of Intuit Inc. which is attained from its QuickBooks services or what is known as fiscal direction solutions has provided cost leading for the house and it acts as its competitory arm over its market challengers. This merchandise ( QuickBooks ) is taking little concern fiscal direction package at retail degree and it has no ferocious competition in the market ( Intuit Inc ) . In add-on, in footings of merchandises distinction, Intuit Inc. merchandises are priced competitively on the market. Particularly, QuickBooks which are tailored for retail usage is priced at much more competitory monetary values that make most of the company clientele affords its acquisition. This has served as the house ‘s strength point in its concern operations as it has continued to supply a sustained competitory advantage over its challengers in the digital book reader industry.

Intuit Inc. Corporate Strategy

Ireland, Robert and Michael hold that corporate scheme helps a house to make a value taking to high public presentation ( 211 ) . Relative to this, the corporate scheme for Intuit Inc. has remained to be in concerns that grow where there is high net income and attractive markets and unmet or un-served client demands ( Intuit Inc ) . The house capitalizes on this section of the market by coming up with solutions to these jobs.

Intuit Inc. principle for prosecuting this corporate scheme has been acceptance of attacks that meet altering market and technological tendencies in their operating environment. In add-on, the house in 2008 increased people and concern connectivity through laptops, desktops and handheld devices where by people could entree their services at any topographic point any clip. These capablenesss have in bend gave the house a competitory advantage over its sensed challengers.

Recommendations

Intuit Inc. is has over its operation period specialized in little and average size concern oriented IT solutions. This paper recommends that it should spread out its patronage niche by planing and developing IT merchandises and services that should besides function big graduated table concern to get by with the increasing competition that is of all time increasing in the market. By Intuit Inc. spread outing its concern operations into functioning big graduated table clients, the house will profit from the advantages accrued from functioning this section patronage.

Since Intuit Inc. is package house, it is understood that package plan production costs are higher but the costs to bring forth subsequent transcripts are rather negligible. In connexion to this, with Intuit Inc. venture into functioning big graduated table patronage, its entire gross turnover will increase since initial costs of production of merchandises will non be different with their current production costs for the little and average sized concerns. In add-on, this will increase their gross turnover and give them a much stronger competitory border against their challengers.

Furthermore, Symantec Corp. which is a closed challenger of Intuit Inc. has categorized its concern operations into the same concern niche as Intuit Inc. whereby it has besides specialized in little and average size patronage. This gives Intuit a difficult endurance life since stiff competition is concentrated in this section of the market. Diversification of concern operations to big graduated table patronage base will provides an drawn-out niche for Intuit Inc. concerns and at that place able to buffer competition in the environment.

The paper besides recommends that Intuit Inc. should present new and more enhanced package merchandises and services besides what they presently offer. It is of import to maintain in head that engineering is fast improving and hence, for a house in the package industry, it should maintain developing new solutions for its market niche to stay relevant in the industry.

It is imperative to cognize that client needs in the market keeps on altering and hence, as a service and merchandise supplier, the house needs to maintain in gait with these client demands and supply solutions that meet their demands more amicably. To carry through successfully this, the house needs to go on fostering and developing accomplishments and capablenesss that will be able to drive the house into new emerging engineerings.

However, in making so, the house should be able to transport out their current merchandises enhancement whereby it should be able to better on the functionalities of their current merchandises. For illustration, their QuickBooks should be enhanced and more functionality added to turn to new emerging demands of their clients. This is healthy for the house ‘s endurance since it will be able to retain their current client base while winning the assurance of the new clients which will do the house to stay competitory in the market.

Last, the paper recommends that the house should increase their distribution providers. Presently, Intuit Inc. has merely chosen distribution of its desktop package merchandises to a individual 3rd party supplier, hapless public presentation of this provider is likely to harm its gross turnover ( Intuit Inc. 20 ) . Reliance of merchandise supply by one provider means that the house bases their market endurance on merely one entity which infers that supply efficiency or inefficiency wholly relies on one entity. It is hence advisable that the house contract other extra providers to shock absorber against opportunities of hapless public presentation by a individual provider. This will vouch stable market public presentation.

Plants Cited

Alexander, Pock. Strategic Management in Islamic Finance. New York: Wiesbaden, 2007.

Citrix Systems, Inc. Citrix Reports Record Fourth Quarter and Fiscal Year 2007 Financial Results. 21 April 2011 & A ; lt ; hypertext transfer protocol: //www.citrix.com/English/NE/news/news.asp? newsID=1297319 & A ; gt ;

Intuit Inc. United States Securities and Exchange Commission. USA: Edgar Online, Inc, 2009.

Intuit. Intuit Fiscal 2007 Revenue Grows 17 Percent. 20 April 2011 & A ; lt ; hypertext transfer protocol: //investors.intuit.com/releasedetail.cfm? ReleaseID=349748/ & A ; gt ; .

Ireland, Duane, Hoskisson Robert, and Hitt Michael. Competing for Advantage. USA: Thomson South-Western, 2008.

Symantec Corp. Symantec Closes Fiscal Year 2007 with Solid March Quarter. 21 April 2011 & A ; lt ; hypertext transfer protocol: //www.symantec.com/about/news/release/article.jsp? prid=20070502_01 & A ; gt ;

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