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