外文翻译发展会计师事务所的营销理念.docx

外文翻译发展会计师事务所的营销理念.docx

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外文翻译发展会计师事务所的营销理念

外文翻译

DevelopingtheMarketingConceptinPublicAccountingFirms

MaterialSource:

Author:

TyzoonandAlbert

INTRODUCTION

TheMetcalfReportoftheSenateSubcommitteeonReports,Accounting,andManagementhasdeclaredthatthepublicaccountingprofessionneedstofostercompetition.1Theaccountingestablishmentfacesacuriousdilemma:

aggressivemarketingactivityisanecessaryingredientinintensifiedcompetition,yetthisactivityisalltoooftenperceivedtoconflictwithprofessionalstandardsofethicalconduct.Tosomeextentthisconflictarisesoutofamisconceptionofmarketing.ThescopeofmodemmarketingstretchesfarbeyondthesolicitationsandhardselloftheFullerBrushSalesmanortheskillfulmanipulationsdescribedbysocialcriticssuchasVancePackard.Thepurposeofthispaperistodeveloptherelevanceofamarketingorientationtofirmsprovidingpublicaccountingservices.Thoughthepaperfocusesonpublicaccountants,themethodologydevelopedherecouldbeextendedtothemarketingoftheotherprofessionalservices.Atafundamentallevel,theformulationofmarketingstrategyconsistsoffoursteps.Theyare:

（1）Toidentifytheneedsofcurrentandprospectiveclientsforservicesandinformation;toidentifytheircurrentbehaviorandtheproblemstheyencounter.

（2）Topartitionthetotalmarketintosegmentssoastohighlightthedifferentneedsandproblemsofvariousgroups.（3）Toselectoneormoreofthesesegmentsasthetarget（s）ofthefirm'sbusinessactivities.（4）Todesignandimplementclientservices,includingcommunicationprogramswhichconveythebenefitstheseservicescouldprovidetoprospectsinthetargetmarkets.Thefollowingsectionreviewsexistingresearchonselectionofpublicaccountingfirms.Thenextsectiondevelopsthefirsttwooftheabovesteps.Theresultsofatelephonesurveyofchiefexecutiveofficersandchieffinancialoffiersinprivatelyheldhightechnologyfinnsarereportedasacaseexample.Inaddition,theevolutionofasmallfirmanditsaccountingneedsispresentedinahypotheticalexampletodramatizetheresearchresults.Thediscussionthenturnstothelasttwooftheabovefoursteps.HerethefocusbroadensfromclientneedstoincludeanunderstandingofthestrengthsandweaknessesoftheCPAfirmwhichisformulatingthestrategy.Themarketingauditisintroducedasavehicleforformulatingmarketingstrategyandevaluatingperformance.TaylorandThompson（1962）reportonastudyoftheselectiondecisionfor222manufacturingfirms.Thecriteriathatfirmsusedinselectingapublicaccountingfirmwereitsreputation,professionalstanding,competence,nationalandinternationalcoverage,andknowledgeoftheclientfirmanditsindustry.Over85%ofthefirmshadnotchangedtheirCPAfirmformorethan10yearsbecausethechangewouldbecostlyandtime-consuming,resultinalossofcontinuityand,perhaps,beadverselyviewedbythebusinesscommunity.Approximately95%ofthefirmsusetheirCPAfirmsforservicesotherthantheannualaudit.Theseservicesincludepreparationoftaxreturns,evaluationofacquisition,mergerandconsolidationprospects,internalcostaccountinganddevelopmentofmanagementinformationsystemsandspecialstudiesintheareasoffinancing,pensionfunds,profitsharingprograms,andforeignsubsidyorganizationandoperation.AbouthalfthefirmsusedtheirCPAfirmasconsultantsonmanagementproblems.BurtonandRoberts（1967）studiedthefirmsontheFortunelistofthe500largestindustrialfirms.Fortheperiodof1952-1965,only83firmsshowedachangeofitsCPAfirmforreasonsotherthanthemergerofthepublicaccountingfirm.Ofthesechanges,onlyfiveweretoasmallersizedCPAfirm,31werefromasmallCPAfirmtoaBig8firm,andin46cases,theoutgoingandincomingCPAfirmswereofcomparablesize.Theprincipalreasonsforthechangewereashuffleintheclientfirm'smanagement（31cases）,theneedforadditionalservices（17cases）,andtheneedfornewfinancing（9cases）.Disputesordissatisfactionwerementionedinonly11casesandthefeewasanissueinonlyoneofthecases.BedingfieldandLoed（1974）identified250firmsregisteredwiththeSECwhichhadchangedCPAfirmsbetweenNovember,1971andFebruary,1973.Theysurveyed141ofthesecompaniesandfoundthatthefeesoftheoutgoingfirmanddissatisfactionwithitwerecitedinover40%ofthecases.Whenthechangeinvolvedmovementfromanon-nationalCPAfirmtoanationalCPAfirm,therewasoftenpressuretodosofromtheinvestmentbankersinvolvedintheclientcompany.Inasurveyof165firmswhichwentpublicinthelastquarterof1969andthefirstquarterof1970,CarpenterandStrawser（1971）foundthat,inoverhalfthecasesthepublicaccountingfirmhadbeenchangedinthefiveyearspriortogoingpublic.ThisisincontrasttotheotherstudiescitedabovewhichfoundarelativelylowincidenceofchangesinCPAfirms.Thefigure,however,supportsourcontentionthattheperiodofearlygrowthofacompanyplacesstressitsmanagementsystem,andhenceonitsrelationwithitsCPAfirm.Thereisacleargapintheliteraturewhichpointstotheneedtostudycompanieswhichareprivatelyheldandinearlygrowthstages.

CLIENTNEEDSANDMARKETSEGMENTS:

Themarketingconceptadvocatesastrategywhichemphasizesthesatisfactionofcustomerneedsasakeytosuccessinthemarket.Hence,itbecomesimperativetomonitortheneedsofthemarket.InthecaseofaCPAfirmwithbranchofficesinseveralgeographicareasandadiverseclientbase,itwouldbedangeroustoassumethatinformalreportingprocedureswillresultinacoherentmarketinformationsystem.Insteadaperiodicformalreportfrompersonnelwhohaveahighdegreeofclientcontactwouldbenecessary.Thedesignandadministrationofsuchareportingsystem,ofcourse,mustbesensitivetotheorganizationalstructureoftheCPAfirm.AmajorlimitationofsuchaninformationsystemisthatitisapoorvehicleforevaluatingnewclientsandnewmarketswithwhomtheCPAfirmhasnocontact.Marketingresearchwhichsurveysnewmarketsisinvaluableintheassessmentofmarketneeds.Keyindividualsinprospectiveclientorganizationscanbeinterviewedtoanswerquestionssuchas:

WhatinfluencesthesearchforandselectionofaCPAfirm?

Whoinfluencesthisprocess?

Whatservicesareusedbytheclient?

Inthissectiontheseissues,andothers,areanalyzedonthebasesofatelephonesurveyofaparticulartargetmarket,namelythesmall,technology-intensivefirm.Thesurveywaslimitedtothe140privatelyheldhightechnologyfirmsintheSanFranciscoBayArea,with15to150employeesandwhichwaslistedintheAmericanElectronicsAssociationdirectory.Theinterestinthesefirmswasmotivatedbytheirrapidgrowthwhich,itwashoped,wouldprovideinsightintothestresswhichgrowthplacesontheauditing,accounting,andinformationneedsofafirm.Also,thetopmanagementofthesefirmstypicallyconsistsofindividualswithscientificandtechnicalbackgrounds,andhence,suchfirmsareinparticularneedofmanagementadvicefromtheirCPAfirm.Moreover,existingstudiesofCPAselectionhaveconcentratedonlargepublicfirms,ignoringthesmallprivatefirm（BedingfieldandLoeb,1974;BurtonandRoberts,1967;TaylorandThompson,1962）.Thesampleconsistedof140firmsinthe15to150employeerange.Ofthesefirms,112agreedtoparticipateinthesurvey.The80%completionratewasachievedthroughacombinationofpreinterviewnotificationbymail,andtelephoneinterviews.Thecharacteristicsofthenon-respondentswereexaminedandwerenotsignificantlydifferentfromthoseofrespondents.Thepersoninterviewedwaseitherthechiefexecutiveofficer（CEO）orthechieffinancialofficer（CFO）dependingontheiravailability.Ifneitherwereavailable,anassistanttoeitheroftheseindividualswasinterviewed.Inthe112firmsinterviewed,therespondentswere22chiefexecutiveofficers,64chieffinancialofficersand24assistantsreportingtothesetitles.60ofthecooperatingfirmsreportedannualsalesoflessthan$3million,35firmsreportedsalesinthe$4to7millionrange,and35firmsreportedsalesgreaterthan$8million.

SincetheAmericanElectronicsAssociationconsidersasmallhightechnologyfirmtobeonewithlessthan$15millionsales,andsincetheSmallBusinessAdministrationdefinesasmallmanufacturingfirmtobeonewithlessthan250employees,thesampleisrepresentativeofthetargetmarketwehavechosentoconcentrateon.ThecontentoftheinterviewprobedthecriteriausedinevaluatingaCPAfirm,theorganizationalinfluencesontheselectionprocess,accountingservicesusedandthelevelofsatisfactionwiththeseservices,thefrequencyofchangingCPAfirms,andtheawarenessofalternativeCPAfirms.Theanalysisofthesurveyresultsarediscussednext.

CRITERIAINFLUENCINGSELECTIONOFCPAFIRM:

TheneedsofclientscanbemeasuredbytheimportancetheyplaceonvariouscriteriaintheirselectionofaCPAfirm.Itgivesthemeanimportance,measuredonascaleofIto3,placedonseveralcriteriabytherespondentsinthesurvey2.ThepersonalizationoftheserviceplaysthemostimportantroleasindicatedbytheimportanceplacedonrapportwithandattentionfromCPApersonnel.Thissuggeststhatthecreationofrapportbetweenclientandaccountingfirm,andtheinvolvementofauditandtaxpartnersinthecontactswithprospectiveclientsarelikelytogeneratenewaccounts.Thespeedwithwhichservicesareprovidedandtheamountofthefeearenextmostimportant.Heretheclientisstressingtheneedfortimely