Intuit Marketing by Garcia, Jalad, Sulipa, University of the Philippines

1. INTUITArvin Camacho, Norwilyne Garcia, Karla Jalad
MM 230 - MARKETING MANAGEMENT
UNIVERSITY OF THE PHILIPPINES
PROF. MITA ANGELA M. DIMALANTA

2. Intuit
COMPANY
PROFILE
Intuit is engaged in developing and selling financial
and tax solution software for consumers and small or
medium-sized businesses inspired on the realization of
an improved or automation of bill-paying process.

3. COMPANY
Mission
To revolutionize people’s lives by solving their
important business and financial management
problems through the deployment of financial and tax
solution software.
Intuit

4. COMPANY
proposition
To solve finance and tax problems in a simple, easy to
use manner where simplicity, not an in-depth
accounting analysis is the key.
Intuit

5. COMPANY
position
A developing company in the 1990s which another company,
Microsoft, attempted to purchase for $2B. It experienced market
fall. This inspired Intuit to develop and refocus its strategic efforts
which include the research and analysis on the growing internet
power, online banking capabilities and valuable input from its
customers which led to development of customer centric products
versions leading to increased stock value and market position. In
2008, Intuit earned $3.1B revenue, employed over 8,000
individuals and still has expansion plans. Today, Intuit is one of
the leading software developer in the finance industry.
Intuit

6. COMPANY
history
Founded by a former Procter & Gamble employee, Scott
Cook,and a Stanford University programmer, Tom Proulx1983
1984 Launched the Quicken
Quicken got its first break as the bestselling finance product
on the market1988
1982
Launched quickbooks, a book keeping and payroll software
product for small businesses and went public in 1983 together
with turbo tax- a tax preparation software program
1995 Microsoft tried to purchase Intuit with a value of $2B
Intuit

7. COMPANY
STRATEGY
Premised on the seasonality of tax preparation,
it capitalizes development of strategy which focuses on
marketing through promotions with original equipment
manufacturers and major retailers. Apart from its core
marketing strategy of customer research, it utilizes
direct mail, web marketing, print, radio and television
ads to capture target a wider audience. Over-all, Intuit
believes that a positive word of mouth and exceptional
customer service are its most effective marketing
strategies.
Intuit

8. 1
Elaborate on Intuit’s use of customer
research. Why did it work so well for
the company?
With its marketing strategy based on customer
research, significant investment amounting to 20% of
net revenues are appropriated for consumer research
each year. Its process covers several stages and
ways which are favorable to customers. These
include site visit, lab study and remote study.
Intuit

9. 1
Elaborate on Intuit’s use of customer
research. Why did it work so well for
the company?
During a Site Visit, Intuit researchers visit the
individual’s home or office to observe and learn exactly
how its products are used and can be improved in the true
work environment. This allows a more personal approach
which often customers feel special and important. Some
customers tend to appreciate more a product with the
strategy of creating a sense of importance. It highlights the
significance of an individual’s comments and
recommendations to improve their product. Intuit has a
customer value proposition of simplifying things for the
customers who are end-users of the system. This allows a
more customer-friendly and tailor-fitted products for the
end-user as they are incorporating the suggestions of the
target consumers.
Intuit

10. 1
Elaborate on Intuit’s use of customer
research. Why did it work so well for
the company?
A Lab Study is being conducted where they
invite consumers to one of Intuit’s U.S. research labs
to test out new products and ideas. In this stage,
prospect consumers are given the opportunity to
examine on their own - newly designed products for a
test-run and evaluation, its results are to be
considered for product revision prior market release.
This stage ensures that possible problems or
recommendations on the product are addressed and
considered prior to product release.
Intuit

11. 1
Elaborate on Intuit’s use of customer
research. Why did it work so well for
the company?
A Remote Study is where consumers are
interviewed over the phone and often asked to view new
design concepts over the Internet. This allows a firsthand
experience of the product. In this way, customers are
prioritized to determine and gather information for
analysis. Parallel to this, Intuit conducts extensive
research studies focused on the fast-paced nature of
technology which greatly affects the consumers. Over-all,
the customer research strategy propelled the company to
greater heights. Intuit exists because of its consumers and
Intuit leverages on this idea to plan products and manage
their customers to address client concerns, suggestions
and recommendations, technology, shifting consumer
needs, industry competitiveness.
Intuit

12. 2
Could anything go wrong for Intuit now that it
has beaten out Microsoft? Why or why not?
Intuit is on its mature stage. Since some
companies upon reaching maturity advance to the
decline stage, there is a possibility for Intuit to
experience the same. However, Intuit should be able
to combat the same and maintain its position by
determining and anticipating the trends of the coming
years. Technology is fast changing, thus, Intuit should
continue to be up-to-date with its customer and
market researches. It should continue its customer
research strategy as it has been the key to the
company’s success.
Intuit

13. 3
How should intuit gauge the results of its
research among younger consumers with
mobile devices?
Given that the younger consumers are the ones who are
inclined to use advanced technology, Intuit should be able to
capture and target this segment by fully utilizing its resources.
Given that the mobile devices are powerful tools that will impact
professions of younger consumers, Intuit should be able to
capitalize on the same by increasing its presence on social
media web sites such as Twitter, Facebook, blogs and LinkedIn.
These social sites serve as a venue to capture “younger
generations” first-hand experiences and information which can
be analyzed to produce customized products for its customers.
Intuit leverages on the word-of-mouth marketing strategy when
customer’s experience of Intuit service should be able to provide
customer satisfaction to lead to commendation and market
expansion. Younger generations can provide alternatives and
fresh ideas which can be incorporated in Intuit product designs.
Intuit
Reference : Kotler, P. Keller, K. 2012. Marketing Management 14th Ed.Prentice Hall. New Jersey: Pearson Education Inc.