A marketingplan for Built Accounting Services
Built Accounting Services is a cloud accounting firm incorporated in November 2016 by Edward Neequaye as an extension of business and financial help service provided under a £4 million UK aided fund meant to enhance growth in new enterprises in Ghana and across Africa. Since then, the firm has evolved into a full-fledged accounting firm that seeks to help SMEs grow their finances. Over the years, even though there has been an explosion of SME’s in Ghana; Built Accounting Services is yet to capture the market and create a name for itself. A comprehensive needs assessment conducted identified that Built Accounting Services battles with the problems of small number of customers, low sales and low customer base. These challenges were revealed to be the direct result of limited promotional activities, inadequate training for marketing personnel, little customer trust and insufficient funds. Using the Ishikawa diagram and the 5Whys problem analysis tools to analyze the identified problems further revealed low funds and the neglect of the marketing function as the root cause of all the problems that Built Accounting Services face. The goal of this project is to create awareness about Built Accounting Services and increase its customer base by mitigating the problems identified through relevant plans and strategies. The literature reviewed disclosed that the marketing mix framework has long been recognised as one of the most successful marketing frameworks even though most accounting firms are far from adopting this market-driven orientation evident in the marketing mix (Morgan, 1990). This project proposes various recommendations and solutions embedded in the 7P’s of the marketing mix framework and the balanced scorecard framework. The proposed solution focuses on promotional activities, people strategies, service improvement activities and other activities and strategies that would help solve the problems identified in the needs assessment.
Applied project submitted to the Department of Business Administration, Ashesi University, in partial fulfillment of Bachelor of Science degree in Business Administration, May 2020
marketing plan, accounting firm, SMEs, financial services