Is Accenture a Service Based or Product Based Company?
Accenture has been lauded as a wonderful place to work, with plenty of possibilities for advancement and progression. A successful career can be built for an entry-level professional with plenty of opportunities for professional development and mastering emerging innovations.
But aspiring candidates sometimes ask, “Is Accenture a service-based or product-based company?“. This question is usual with candidates who get confused with the difference between a product and a service-based company.
Here is a guide for those aspiring Accenture candidates over why it is a service based company.
5 Reasons Why Accenture is a Service-Based Company
These are the reasons why Accenture is a service-based company:
1. Meaning
Accenture offers solutions in the form of services customized to client’s requirements.
Whereas product-based companies create a product for a specific need and distribute it to a broad audience in the target demographics.
2. Deadline
Accenture consumers decide project time frames tailored to their specific requirements after consultations.
Whereas traditional product-based companies internal management decides the project deadline according to market conditions.
3. Turnaround Time
Accenture turnaround time is low and depends on the client’s unique needs. Most Accenture clients have been with them for many years due to continued service requirements.
Whereas product-based companies turnaround time is very quick as the quality and well-marketed products are purchased immediately by the customers.
4. Team Size
Accenture maintains large team sizes, and the teams are considerably more distributed, with one or more people performing remarkably similar tasks.
Whereas product-based companies use relatively small, close-knit teams, with each member performing a specialised and outlined responsibility.
5. Marketing
Accenture spends a very modest amount on advertising and instead approaches target clients to give personalised services.
Whereas product-based companies invest a significant amount of their revenue in marketing their products.
FAQs
1. Is Accenture a Product-Based Company?
No, Accenture is not a product-based company because it does not create a product for a specific need and distribute it to a broad audience.
2. Is Accenture a Service-Based Company?
Yes, Accenture is a service-based company because it offers solutions in the form of services that are customised to clients’ requirements.
3. Why is Accenture a Service-Based Company?
Accenture is a service-based company because its turnaround time is low and has large team sizes, in addition to its modest marketing budget.
4. Why is Accenture not a Product Based Company?
Accenture is not a product-based company because its marketing budget is modest, and clients set deadlines based on their needs.
The Bottom Line
We hope this article helps you understand the reasons why Accenture is a service-based and not a product-based company. If you have any queries or suggestions, feel free to let us know in the comments section.
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Thirumoorthy serves as a teacher and coach. He obtained a 99 percentile on the CAT. He cleared numerous IT jobs and public sector job interviews, but he still decided to pursue a career in education. He desires to elevate the underprivileged sections of society through education
Thirumoorthy serves as a teacher and coach. He obtained a 99 percentile on the CAT. He cleared numerous IT jobs and public sector job interviews, but he still decided to pursue a career in education. He desires to elevate the underprivileged sections of society through education
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