CASE STUDY:

SUBMITTED BY: DEVANSH JAIN, IIT MADRAS

ASSIGNMENT 1

About the Company:

What they do?Intuit Inc. develops financial and tax solution softwares.

What are their best-selling products?Quicken, QuickBook and TurboTax etc.

Who is the target audience?Small to medium sized businesses, accountants and individuals.

Who are they?Intuit is an American company founded in 1983 by Scott Cook and Tom Proulx.

What is their mission?Revolutionize people’s lives by solving their important business & financial management problems.

1983 Intuit Inc. founded by Scott Cook & Tom Proulx.1984 launched Quicken in the US markets.1992 Launched QuickBooks, a book keeping and payroll software product for small businesses.1993 Intuit goes public.1995 – 1997 Intuit buys 70% of the company;Microsoft tried to acquire Intuit & The Justice Department intervenes attracting controversies;Also, Intuit’s stock prices fell by 72% in this period.Early 2000sIntuit focused on online banking capabilities and new product development based on consumer research.2009 Intuit won 18-year long legal battle against software giant Microsoft.

THE -IVE STORY:

MARKETING

S R A T E G Y

MARKETING

S R A T E G Y

• Understanding consumer needs or wants

• Offered easy-to-use software products

• Exceptional customer service

• Creating satisfied, loyal customers

• Effective positive word of mouth marketing

• Decision making on the basis of insights

from consumer research

• Forecasting consumer demand in

accordance to market trends

• Understanding the work environment

• Analyzing response to new products

• Investment in research & development to

produce high quality products

Q.1 Elaborate on Intuit’s use of customer research. Why did it work so well for the company?

MARKET RESEARCH:

Understanding the consumer’s need/want,

the work environment of product in use.

Analyzing consumer experience and forecasting

demand.

Recording consumer response to marketing strategies

of competitor and understanding consumer’s

response to new product/service in market.

Intuit invests 20% of annual revenue on Market Research.

Q.1 Elaborate on Intuit’s use of customer research. Why did it work so well for the company?

“…create a CUSTOMER who creates CUSTOMERS.”

Creating satisfied and loyal customers: Building Value

“One customer well taken care of could be more valuable than $1000 spent on advertising.”

- Jim Rohn

“Your most unhappy customers are your greatest source of learning.”

- Bill Gates

“Marketing is NOT the art of finding clever ways to dispose of what you make. It is an art of creating genuine customer value.”

-Philip Kotler

Q.1 Elaborate on Intuit’s use of customer research. Why did it work so well for the company?

Concentrated marketing around tax preparation time

Promotional campaigns in association with OEMs and major retailers

Forecasting global trends

Email marketing, web marketing, print, radio, TV commercials, blogs, technology review platforms, complaint forums etc.

Q.2 Could anything go wrong for intuit now that it has beaten Microsoft? Why or why NOT?

VS

1995-1997Microsoft tried acquiring Intuit Inc. The Justice Department sued Microsoft and this was the beginning of 18-year long legal battle.

2009Intuit won the lawsuit forcing Microsoft to stop developing its financial-tax solution service, Money.

Q.2 Could anything go wrong for intuit now that it has beaten Microsoft? Why or why NOT?

Intuit cited the changing trend in markets and analyzed consumer needs at the time of

Money’s demise.

Intuit should continue to follow the same strategy and invest its resources in research

and development to produce high quality products in accordance to changing

technology and market trends.

Intuit can now dominate the market with highest market share as eventually all

Money users will be shifting to other substitute products available in market.

“Invest in customers because competitor’s may be temporary but competition is permanent.”

Q.3 How should Intuit gauge the results of its research among younger consumers with mobile devices?

Summary: • About the company: Intuit• The Intuit-ive story: a timeline of major events• Marketing strategy• Case Study Questions

DisclaimerCreated by Devansh Jain, IIT Madras, as a part of marketing management internship under the guidance of IIM Lucknow faculty, Prof. Sameer Mathur.

Thank You