The general objective of the study is to find out if there is any effect of advertising on consumer 'buying' of accounting services. In a quest to achieve this objective, the following specific objectives are set:
First, to determine if there is any relationship between consumer consciousness and advertising. Second, to find out if there is any relationship between advertisement and consumer opinion. And third, to find out if consumer consciousness and consumer opinion have impact on purchasing power.
Founded in 2017, Professionals in Business Group (PIBG) is a black owned, South African accounting firm targeting mainly small and medium enterprises with the salient objective of providing them with affordable and organized financial reporting structures. PIBG endeavors to provide this much-needed service to small and medium institutions at the most cost effective way possible without compromising the quality of their work output. According to Thubelihle Maphosa, Financial Accountant and founder of PIBG, much growth potential is lost in small businesses because of failure to manage funds in an operational, tactical and strategic manner and that is where PIBG comes in, as the key to unlocking growth potential
Professionals in Business Group uses most major accounting software in the market namely Pastel Accounting, QuickBooks and Palladium Accounting. Nonetheless, PIBG leadership believes that this software are not necessarily in harmony with the company’s identity of simplicity to serve even the smallest of clientele. In a nutshell, the scope of these software is too big and not usable in its entirety to small businesses and in response to this, PIBG is building a tailored Accounting software PIB-X Accounting and Payroll 'Accounting made simple'.
Table of Contents
1. Introduction
2. Research goal and objectives
3. Elements of the External Business Environment
4. Analysis and Discussion of Recommended Solutions
5. Elements of the Internal Business Environment
6. Marketing Strategy (4P’s)
7. Ethical Considerations
8. Conclusion
9. References
10. Appendices
Research Goals and Thematic Scope
The primary objective of this study is to investigate the impact of advertising on the consumer purchasing behavior of accounting services, specifically focusing on the Professionals in Business Group (PIBG) in South Africa. The research seeks to understand the relationship between consumer consciousness, public opinion, and the eventual decision to engage professional accounting services.
- Analysis of the PESTLE macro-environment and its influence on business strategy.
- Evaluation of internal strategic factors through SWOT and IFAS/EFAS matrices.
- Investigation of the marketing mix (4Ps) tailored for accounting service providers.
- Hypothesis testing regarding the correlation between advertising, consumer awareness, and purchasing power.
- Development of strategic alternatives to enhance brand growth and client acquisition.
Excerpt from the Book
Introduction
Founded in 2017, Professionals in Business Group (PIBG) is a black owned, South African accounting firm targeting mainly small and medium enterprises with the salient objective of providing them with affordable and organized financial reporting structures. PIBG endeavors to provide this much-needed service to small and medium institutions at the most cost effective way possible without compromising the quality of their work output. According to Thubelihle Maphosa, Financial Accountant and founder of PIBG, much growth potential is lost in small businesses because of failure to manage funds in an operational, tactical and strategic manner and that is where PIBG comes in, as the key to unlocking growth potential.
Professionals in Business Group uses most major accounting software in the market namely Pastel Accounting, QuickBooks and Palladium Accounting. Nonetheless, PIBG leadership believes that this software are not necessarily in harmony with the company’s identity of simplicity to serve even the smallest of clientele. In a nutshell, the scope of these software is too big and not usable in its entirety to small businesses and in response to this, PIBG is building a tailored Accounting software PIB-X Accounting and Payroll ’Accounting made simple’. This development will go a long way in helping small businesses thrive, giving them control of the running of their company by simplifying accounting data to packages comprehensible by all small business owners regardless of their level of accounting command. This innovation is in line with the company’s mission “To develop innovative and transparent systems that will form an integral part of our clients’ business success, and to serve our clients with integrity, professionalism, independence, impartiality and excellence”.
Summary of Chapters
Introduction: This chapter introduces the PIBG firm and its mission to provide accessible accounting services to small and medium enterprises, while highlighting the development of their proprietary software, PIB-X.
Research goal and objectives: This section defines the study's aim to assess the influence of advertising on consumer behavior and outlines the specific hypotheses tested during the research.
Elements of the External Business Environment: This chapter utilizes a PESTLE analysis to evaluate macro-environmental factors and their potential impact on the firm's strategic operations.
Analysis and Discussion of Recommended Solutions: This section presents the statistical results from the hypothesis testing and suggests marketing-related improvements based on these findings.
Elements of the Internal Business Environment: This chapter provides a SWOT analysis and strategic internal assessment to determine the firm's current organizational positioning.
Marketing Strategy (4P’s): This chapter details the firm's approach to the marketing mix, specifically focusing on product, price, place, and promotional strategies for the B2B sector.
Ethical Considerations: This section outlines the ethical guidelines followed by the researcher, ensuring respondent confidentiality and the proper citation of sources.
Conclusion: This final chapter synthesizes the findings, suggesting that while advertising influences consumer consciousness, professional reputation and trust are more critical in the accounting industry.
Keywords
Accounting, Advertising, Consumer Behavior, PIBG, Marketing Mix, PESTLE Analysis, SWOT Analysis, Small and Medium Enterprises, PIB-X Accounting, Business Strategy, Financial Reporting, Market Research, Consumer Consciousness, Penetration Pricing, Professional Services.
Frequently Asked Questions
What is the primary focus of this research report?
The report examines the influence of advertising on consumer behavior regarding the purchasing of professional accounting services, using PIBG as a case study.
What are the main thematic areas covered in the analysis?
The document covers macro-environmental analysis (PESTLE), internal strategic auditing (SWOT/IFAS/EFAS), marketing mix development (4Ps), and empirical testing of consumer behavior hypotheses.
What is the core research question?
The study aims to determine whether advertising has a measurable effect on the consumer's decision to "buy" or utilize accounting services.
Which scientific methodology was employed?
The researcher conducted a quantitative study using survey data, which was subsequently analyzed via correlation tests using SPSS software to test specific hypotheses.
What does the main body of the document address?
It provides a deep dive into the business model of PIBG, including external environmental pressures, internal strategic strengths, and a breakdown of their promotional and pricing strategies.
How would you describe the key themes using keywords?
The core themes are captured by terms such as Accounting, Business Strategy, Marketing Mix, PESTLE Analysis, and Consumer Behavior.
What is the purpose of the PIB-X Accounting and Payroll software mentioned?
PIB-X is a proprietary, simplified accounting solution developed by PIBG specifically to meet the needs of small businesses that find traditional, complex accounting software unusable.
What did the statistical analysis conclude regarding advertisements?
The study concluded that while there is a relationship between advertising and consumer consciousness, actual consumer opinions in the accounting sector are more heavily influenced by trials and peer recommendations than by advertisements alone.
- Quote paper
- Thembisani Maphosa (Author), 2019, The Influence of Advertising on Consumer Behavior, Munich, GRIN Verlag, https://www.hausarbeiten.de/document/509258
