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'.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Research goal and objectives
- Elements of the External Business Environment
- Elements of the Internal Business Environment
- Marketing Strategy (4P's)
- Ethical Considerations
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
The main objective of this study is to investigate the influence of advertising on consumer purchasing behavior of accounting services, specifically focusing on the Professionals in Business Group (PIBG). The study aims to determine the relationships between advertising, consumer awareness, and consumer opinion, and their impact on purchasing decisions.
- The impact of advertising on consumer purchasing decisions for accounting services.
- The relationship between consumer awareness and advertising effectiveness.
- The influence of consumer opinion on purchasing behavior.
- The role of PESTLE analysis in understanding the external business environment.
- The development and implementation of a marketing strategy for PIBG.
Zusammenfassung der Kapitel (Chapter Summaries)
Introduction: This chapter introduces Professionals in Business Group (PIBG), a black-owned South African accounting firm specializing in affordable financial reporting for small and medium enterprises (SMEs). It highlights PIBG's mission to provide cost-effective, high-quality services and its development of tailored accounting software, PIB-X, to simplify accounting for SMEs. The chapter also notes PIBG's significant growth since its inception in 2017, attributing this success to its reputation and the favorable economic climate in South Africa.
Research goal and objectives: This section details the study's objective to determine the impact of advertising on consumer purchasing of accounting services. Specific objectives include assessing the relationship between advertising and consumer awareness, advertising and consumer opinion, and the combined influence of awareness and opinion on purchasing power. Hypotheses are stated to guide the investigation of these relationships.
Elements of the External Business Environment: This chapter discusses the importance of analyzing the macro-environment before launching new products or services. It introduces PESTLE analysis as a key tool for understanding political, economic, social, technological, legal, and environmental factors influencing the market. The excerpt suggests that understanding these elements is crucial for strategic decision-making within PIBG.
Schlüsselwörter (Keywords)
Advertising, consumer behavior, accounting services, small and medium enterprises (SMEs), PESTLE analysis, marketing strategy, PIBG, South Africa, financial reporting, PIB-X Accounting software.
Frequently Asked Questions: Comprehensive Language Preview of PIBG Marketing Study
What is the main focus of this study?
This study investigates the impact of advertising on consumer purchasing behavior of accounting services, specifically for the Professionals in Business Group (PIBG), a black-owned South African accounting firm serving SMEs.
What are the key objectives of the research?
The research aims to determine the relationships between advertising, consumer awareness, consumer opinion, and their impact on purchasing decisions for PIBG's accounting services. It explores how advertising influences consumer awareness and opinion, and how these factors, in turn, affect purchasing behavior.
What methodologies are used in this study?
The provided preview doesn't detail specific methodologies, but it mentions the use of PESTLE analysis to understand the external business environment and the development of a marketing strategy (4P's) for PIBG. Hypotheses are also mentioned, suggesting a quantitative approach.
What is the Professionals in Business Group (PIBG)?
PIBG is a black-owned South African accounting firm specializing in affordable financial reporting for small and medium enterprises (SMEs). They have developed tailored accounting software, PIB-X, to simplify accounting for their clients. The firm has experienced significant growth since its inception in 2017.
What aspects of the business environment are considered?
The study analyzes both the internal and external business environments. The external environment is examined using PESTLE analysis, considering political, economic, social, technological, legal, and environmental factors. The internal environment is implicitly addressed through the discussion of PIBG's strategy and marketing efforts.
What is the role of advertising in this study?
The study's central theme is the impact of advertising on consumer purchasing decisions. It investigates how advertising influences consumer awareness and opinion regarding PIBG's accounting services, and subsequently, how these factors influence the purchasing behavior of SMEs.
What is the significance of PESTLE analysis in this study?
PESTLE analysis is a crucial tool used to understand the macro-environmental factors influencing PIBG's market. By analyzing these factors, PIBG can make more informed strategic decisions.
What are the key themes explored in this study?
Key themes include the impact of advertising on consumer purchasing behavior, the relationship between advertising and consumer awareness/opinion, the role of PESTLE analysis in understanding the market environment, and the development and implementation of a marketing strategy for PIBG.
What is PIB-X?
PIB-X is tailored accounting software developed by PIBG to simplify accounting for SMEs. It is presented as a key element of PIBG's service offering.
What is covered in the chapter summaries?
The chapter summaries provide an overview of the introduction (introducing PIBG and its context), the research goals and objectives, and the elements of the external business environment (utilizing PESTLE analysis).
What are the keywords associated with this study?
Keywords include: Advertising, consumer behavior, accounting services, SMEs, PESTLE analysis, marketing strategy, PIBG, South Africa, financial reporting, and PIB-X Accounting software.
- Quote paper
- Thembisani Maphosa (Author), 2019, The Influence of Advertising on Consumer Behavior, Munich, GRIN Verlag, https://www.grin.com/document/509258
