Marketing Mix of Accenture and 7Ps (Updated 2024)

The Marketing mix of Accenture analyses the 7Ps of Accenture, which includes the Product, Price, Place, Promotion, People, Physical Evidence, and Process of Accenture. Accenture is a public ltd company with technological services, management consulting, and outsourcing. This multinational corporation is the largest consultancy firm in the world regarding revenues collected.

Accenture was founded in 1989 and has its headquarters in Dublin, Ireland. The company’s client list proves it has become a management consultancy and technological services choice. Out of the first hundred people in Fortune Global, ninety of them are the clients of this global corporation. Its chief competitor in today’s market is IBM.

About Accenture

• Type: Multinational professional services company
• Industry: Information technology (IT) consulting
• Founded: 1 September 1989
• Founder: Arthur Andersen
• Headquarters: Dublin, Ireland
• Area served: Worldwide
• Key people: Julie Sweet (Chairman) and Julie Sweet (CEO)
• Number of employees: 713,000

Accenture Product Strategy

Accenture is committed to providing the best possible services and products with its efficient team of experts, including experts related to the industry and professionals knowledgeable about current market trends. The company aims to help the client in achieving his goals and vision. The clients are served with expert technology, consulting, and outsourcing services. Accenture has become the largest service provider technology consulting division with a proven record of accomplishment.

The Product Mix of Accenture in 2024 is as follows (Source)

1. Consulting Services: Management Consulting: Accenture provides consulting services to help organizations improve their operations, strategy, and overall business performance; Technology Consulting: They assist clients in adopting and implementing cutting-edge technologies and digital solutions to transform their businesses.
2. Technology Services: Application Services: Accenture helps clients design, develop, and maintain software applications and IT systems; Infrastructure Services: They offer infrastructure management and cloud computing services to optimize IT operations; Cybersecurity Services: Accenture provides cybersecurity solutions to protect organizations from digital threats and breaches.
3. Digital Services: Digital Transformation: Accenture helps businesses embrace digital technologies, such as AI, IoT, and data analytics, to drive innovation and enhance customer experiences; Interactive: They create digital marketing and customer experience solutions to engage and connect with customers across various digital channels.
4. Outsourcing and Managed Services: Business Process Outsourcing (BPO): Accenture manages specific business processes and functions for clients, such as finance and accounting, HR, and procurement; Operations and IT Outsourcing: They offer outsourcing services to help clients streamline their operations and IT functions.
5. Industry-Specific Services: Accenture provides industry-focused services tailored to specific sectors, including financial services, healthcare, energy, retail, and more. These services address the unique challenges and opportunities within each industry.
6. Analytics and Data Services: Accenture leverages data analytics and artificial intelligence to help clients gain insights, make data-driven decisions, and improve business outcomes.
7. Sustainability Services: They assist clients in developing and implementing sustainability strategies to reduce their environmental footprint and enhance corporate social responsibility.
8. Training and Learning Services: Accenture offers training and learning solutions to help organizations upskill their workforce and adapt to evolving technology and business trends.
9. Research and Insights: Accenture conducts research and publishes reports and insights on various business and technology trends, providing valuable information to clients and the broader business community.

Accenture Pricing Strategy

Quality does not come cheap; Accenture has always maintained a premium / value-based pricing policy and superior services. Their premium range of consultancy services allows them the latitude to develop a premium-based pricing policy. As their services cover the global marketplace and international client, it also determines their pricing policies to a certain extent. The variety of clients helps them maintain a somewhat flexible pricing policy. Sometimes, they change specific policy rules to satisfy and retain loyal customers.

Here is the Pricing Strategy of Accenture:

1. Value-Based Pricing: Accenture’s pricing strategy is primarily rooted in the value it delivers to clients. They assess each client’s specific needs and goals and then customize their pricing based on the perceived value of the services provided. This approach enables Accenture to capture a fair share of the value it helps create for its clients.
2. Consulting and Service Bundles: Accenture often packages its services into bundles that align with different industries or sectors’ unique challenges and objectives. These bundles may include a combination of strategy consulting, technology implementation, and ongoing support. Clients can select the bundle that best fits their requirements and budget.
3. Time and Material Contracts: Accenture frequently uses time and material contracts for projects where the scope and requirements may evolve. In these cases, clients are billed based on the time and resources dedicated to their project, providing flexibility to adapt to changing needs.
4. Fixed-Price Contracts: In some instances, particularly for well-defined projects with clear deliverables, Accenture may offer fixed-price contracts. This approach provides clients with cost predictability and a clear understanding of the investment required.
5. Performance-Based Pricing: Accenture may tie some of its fees to performance metrics and outcomes. This aligns the firm’s interests with the client’s goals, emphasizing a shared commitment to achieving measurable results.
6. Licensing and Subscription Models: Accenture may incorporate licensing or subscription-based pricing models for software and digital solutions in technology-related projects. This can offer clients flexibility in paying for and scaling their technology investments.
7. Volume Discounts: For clients with ongoing or large-scale engagements, Accenture may offer volume discounts, providing cost advantages as the scope of work increases.
8. Strategic Partnerships: In some cases, Accenture enters into long-term strategic partnerships with clients, where pricing structures are designed to incentivize collaboration and ongoing innovation.
9. Cost-Plus Pricing: Accenture may utilize a cost-plus pricing model in cost-intensive projects, adding a predetermined markup to their costs. This approach ensures profitability while maintaining transparency.
10. Competitive Positioning: Accenture monitors competitors’ pricing strategies and adjusts its pricing to remain competitive. This involves considering market rates for similar services and evaluating how its value proposition differentiates it from rivals.

Accenture Place Strategy

Accenture is a global company serving clients in over fifty-six countries and two hundred cities worldwide. In India, it has a record number of employees, more than any other country. In the US alone, it has over 40.000 employees, and in the Philippines, nearly 35,000. Accenture’s corporate policy is unique and elite.

The company is determined to provide a value-based superior experience to maintain its loyal brand of customers. Accenture believes in maintaining direct relationships with its customers. To do so, they have established a network of efficient sales team members who have been groomed to learn, grow, and develop their potential to serve the multinational company better.

As part of the direct dealing program, the team members respond to clients’ needs and queries reasonably and timeously. It results in open communication and effective relations with suppliers, partners, customers, and others. The company’s distribution channel consists of innovating, operating, marketing channels, collaborating, and delivering value-based products to all its clients worldwide.

Here is the Place Strategy of Accenture:

1. Global Network of Offices: Accenture has a vast network of offices and delivery centers worldwide. These physical locations are strategically positioned in major cities and regions, allowing the company to be near clients and provide onsite consulting and support when needed.
2. Remote and Virtual Delivery: Accenture employs advanced technology and communication tools to offer remote and virtual delivery of services. This approach allows consultants and experts to collaborate with clients and teams across the globe without the need for physical presence, enhancing flexibility and reducing travel-related costs.
3. Digital Platforms: Accenture leverages digital platforms and collaboration tools to facilitate communication and project management between its consultants and clients. These platforms enable real-time information sharing, project tracking, and efficient decision-making regardless of geographical distances.
4. Industry and Capability Centers: Accenture has established industry and capability centers of excellence in various locations. These centers focus on specific sectors or technologies and serve as hubs for specialized expertise. Clients can access these centers for in-depth knowledge and solutions.
5. Strategic Alliances and Partnerships: Accenture collaborates with technology partners, software vendors, and industry leaders to enhance its service offerings. This collaborative approach expands the company’s reach and allows it to provide clients with access to the latest technologies and innovations.

Accenture Promotion Strategy

Accenture has a proper, strong, and effective advertising policy that includes advertising in visual, print, and social media platforms such as television, newspapers, and public frequenting places like airports worldwide. The company has also sponsored many events in the world of international arena, such as “Accenture Match Play Championship” and the “World Golf Championships.” Accenture was also imitated in “Bigtime Consulting,” a webcomic.

From 2005 to 2009, the company signed the famous golfer “Tiger Woods” as its brand ambassador and spokesperson and released many slogans for online advertising with a dramatic effect. The slogans “Go on, be a Tiger” and “We know what it takes to be a Tiger” were used to cash in on the celebrity status of the golfer. Presently, the company uses the slogan “High performance. Delivered.” The campaign for the advertisements includes success stories of the clients success stories. Their advertising campaign has a global feel and has helped the company move forward.

Also read – SWOT of Accenture | Seven Characteristics of Services

Some Recent Video ads and Print ads of Accenture are:

https://youtu.be/sFrGp7p-exg

Accenture People Strategy

The “People” element of the service marketing strategy mix for a company like Accenture is crucial due to the nature of its business as a professional services firm. In the context of Accenture, “People” refers to the employees, consultants, and management who deliver services to clients. Here are several key points about the “People” aspect of Accenture:

1. Highly Skilled Workforce: Accenture’s workforce consists of highly skilled professionals specializing in various domains such as consulting, technology, strategy, digital, and operations. These employees possess diverse skills and expertise, enabling Accenture to cater to various client needs across different industries.
2. Global Presence with Diverse Talent: Accenture employs people from diverse cultural, educational, and geographical backgrounds. This diversity enhances innovation, creativity, and the ability to deliver complex global solutions.
3. Continuous Learning and Development: Accenture invests significantly in the learning and development of its employees. The company ensures its workforce remains at the cutting edge of industry and technology trends through its online learning platform, virtual training sessions, and extensive learning resources.
4. Performance and Career Growth: The company has a structured performance management system that aligns individual goals with company objectives, providing its employees with clear career paths and growth opportunities. This system encourages high performance and rewards contributions to the company’s success.
5. Leadership and Management: Accenture’s leadership is known for its strategic vision, commitment to innovation, and focus on delivering value to clients. The leadership team plays a crucial role in shaping the company’s culture, driving its growth, and maintaining its position as a leader in the professional services industry.
6. Employee Engagement and Satisfaction: Accenture strongly emphasizes employee engagement and satisfaction. The company regularly conducts surveys and feedback sessions to understand employee needs and works towards creating a positive, inclusive, and flexible working environment.
7. Ethics and Professionalism: The people at Accenture are expected to adhere to high ethical standards and professionalism. The company has established codes of conduct and ethics policies that guide employee behavior, ensuring integrity in all business dealings and client interactions.
8. Innovation-Driven Culture: Employees at Accenture are encouraged to innovate and think creatively. The company supports an innovation-driven culture through various initiatives, labs, and collaborations that empower employees to explore new ideas and solutions.
9. Commitment to Inclusion and Diversity: Accenture is committed to creating a diverse and inclusive workplace. The company has numerous programs and initiatives to support gender diversity, cultural inclusion, and the empowerment of underrepresented groups within the workforce.

Accenture Process Strategy

The “Process” element of the service marketing mix is critical for a company like Accenture, reflecting how services are delivered from initial client engagement to project completion. The process involves the methods and sequences of actions through which services are delivered to clients, emphasizing efficiency, quality, and client satisfaction. Here are several key points regarding Accenture’s process marketing mix:

1. Client Engagement Process: Accenture begins with a thorough understanding of the client’s needs through consultations and meetings. This includes identifying the client’s business challenges, objectives, and the specific outcomes they wish to achieve.
2. Solution Design and Strategy Development: Accenture designs customized solutions and strategies tailored to the client’s requirements based on the initial engagement. This involves leveraging their industry expertise, technology capabilities, and innovative thinking to craft solutions.
3. Project Planning and Management: A detailed project plan is developed, outlining the scope, timeline, resources, and milestones. Accenture employs rigorous project management methodologies, such as Agile, Scrum, or Waterfall, depending on the project’s nature and the client’s preferences, to ensure timely and efficient delivery.
4. Implementation and Execution: The company executes the project plan focusing on quality and efficiency, utilizing its global resources and expertise. This includes deploying technologies, processes, and changes necessary to achieve the desired outcomes.
5. Quality Assurance and Control: Accenture maintains high-quality assurance and control standards throughout the project lifecycle. Regular reviews, testing, and audits ensure the deliverables meet or exceed client expectations and industry standards.
6. Communication and Reporting: Accenture ensures transparent and continuous communication with the client throughout the project. Regular updates, meetings, and reports keep the client informed of the progress, addressing any issues or changes in requirements promptly.
7. Feedback and Post-Implementation Support: After project completion, Accenture seeks input from the client to assess satisfaction and identify areas for improvement. The company also offers post-implementation support and services to ensure the sustainable success of the implemented solutions.
8. Continuous Improvement: Leveraging insights from completed projects and client feedback, Accenture refines its processes and methodologies. This commitment to improvement helps enhance efficiency, effectiveness, and client satisfaction in future projects.
9. Leveraging Technology and Innovation: Accenture integrates the latest technologies and innovative solutions into its processes. This includes using artificial intelligence, cloud computing, analytics, and other digital tools to optimize project execution and deliver cutting-edge solutions.
10. Global Delivery Model: Accenture utilizes a global delivery model that allows work to be done in the most appropriate location for the specific task, whether onsite, nearshore, or offshore. This model supports round-the-clock productivity and leverages global talent.

Accenture Physical Evidence Strategy

The “Physical Evidence” component of the service marketing mix is essential for a company like Accenture, which provides intangible services. Physical evidence refers to the tangible aspects that customers can see, touch, or feel, directly or indirectly related to the service, helping to shape perceptions and provide a sense of quality and credibility for the final product. For Accenture, physical evidence encompasses several key elements:

1. Corporate Branding and Identity: Accenture’s logo, the stylized “>” in its name, and its distinctive branding elements (color scheme, typography) are consistently applied across all physical and digital touchpoints. This branding helps create a recognizable and professional image that reflects the company’s commitment to innovation and excellence.
2. Office Buildings and Workspaces: Accenture’s global offices are designed to reflect the company’s forward-thinking and professional image. These spaces’ layout, design, and functionality are tailored to foster collaboration, innovation, and a positive work environment for employees and visiting clients.
3. Digital Presence: The company’s website, social media profiles, and digital platforms are physical evidence of its capabilities, showcasing case studies, testimonials, awards, and detailed descriptions of services offered. This digital footprint is critical for conveying expertise and building trust with prospective clients.
4. Marketing and Promotional Materials: Brochures, presentations, reports, and promotional videos that detail Accenture’s services, success stories, and industry insights are tangible elements that clients can evaluate. These materials are crafted to communicate value and expertise.
5. Client Testimonials and Case Studies: Published success stories and endorsements from satisfied clients prove Accenture’s ability to deliver on its promises. These testimonials provide prospective clients concrete examples of the company’s capabilities and results.
6. Professional Reports and Publications: Accenture regularly publishes research, insights, and thought leadership pieces on industry trends, challenges, and solutions. These publications, available in digital and print formats, prove the company’s knowledge, expertise, and leadership in the consulting and technology services sectors.
7. Event Participation and Sponsorships: Accenture’s involvement in industry conferences, workshops, and seminars, as well as its sponsorship of events and initiatives related to technology and innovation, provide physical evidence of its active role and commitment to the professional community and societal progress.
8. Service Delivery and Implementation Materials: For specific projects, the physical evidence can include project deliverables, reports, documentation, and the actual technologies or solutions implemented. These materials and outcomes directly prove Accenture’s service quality and effectiveness.
9. Employee Presentation and Professionalism: The appearance, behavior, and professionalism of Accenture’s employees, especially when interacting with clients or representing the company at public events, serve as physical evidence of the company’s values and standards.
10. Awards and Recognitions: Accolades received from industry bodies, recognition as a leader in various service areas, and awards for innovation and corporate responsibility contribute to the physical evidence of Accenture’s excellence and reputation in the market.

Liked this post? Check out the complete series on Marketing Mix