Chartered Accountants in Marketing

CA Thakur Prasad Adhikari

–Peter Drucker

“The business enterprise has two -- and only two -- basic functions: marketing and

innovation. Marketing and innovation produce results; all the rest are costs.”

Components of Cost and Revenue

Manufacturing is a cost. Management and administration are costs. Finance, Accounting, HR, IT, Operations, and Legal are all costs. The only function in a company that produces revenues and profits is marketing; that is, marketing defined holistically as product, price, place, and promotion.

Is Marketing mean only Promotion ?

Marketing has come to be defined by just one of its four P’s: promotion. Advertising a g e n c i e s a n d c l i e n t m a r k e t i n g o r g a n i s a t i o n s a l i k e h av e b e e n marginalised in the business world by allowing themselves to be boxed into just the business of promoting and advertising the product, rather than marketing it.

Marketing ≠ Advertising

In the earlier days of marketing, which emphasized all four Ps, marketing was a board-level function in corporations. Today that’s often not the case. Marketing professionals are usually seen as the “advertising people.”

Our Introduction

We Chartered Accountants, and Business Consultants essentially cost the company money. This isn’t to say that the money isn’t well spent, or that we professionals don’t sometimes save corporations a lot of money by preventing lawsuits, keeping things straight with the Inland Revenue Department, or implementing timesaving new software. But none of these functions actually produce revenues for the company.

Dynamic Approach

To help recast the marketing function within our organisations or clients, we need to practice more “design thinking “and less “advertising” thinking. And as paid media advertising continues to decline in both volume and effectiveness, redefining “marketing” isn’t…

Can Chartered Accountants Assist Marketing ?

One of the key objectives for agencies in the 21 century is to do more “magic,” not just “logic.” Magic is the high-value ideation, insights, and problem solving that most agencies do well, but do a poor job of getting paid for it (or worse, give it away). “Magic” work includes helping organisations think through all the dimensions of marketing – from the way the product is named and distributed to how customer service is delivered.

When agencies instead default straight to producing advertising, they are largely engaging in the “logic” side of the business – execution and implementation. “Logic” work, while it must be done well, carries a lower perceived value and keeps agencies mired in the advertising factory model where “marketing” mostly means “advertising.”

Role of Chartered Accountants in Marketing

Analysing the Marketing and Advertising Trend of the Organisation

Take Data for similar services and products and make comparisons with the organisation’s performance

Forecast the business with alternatives taking Marketing as a growth driver instead of a service provider

Recommend a product improvement as they are an ad campaign.

Analyse the concept of the Marketing Department and foresee the consequences if the act will cause a lawsuit against the organisations

Compare the marginal profit rather than marginal cost or marginal revenue through marketing

Conclusion

Chartered Accountants can integrate different segments in numbers if they think proactively.

Integration of different logical thoughts with pro-activeness will bring magic, magic with growth driver will bring innovations, innovations with marginal profit will create business value, Business Value with marketing will bring sustainability, Sustainability with growth target will bring going concern, Going Concern in all aspects will bring the development of the Economy, Economic Development is our agenda.

Can We Help ?

We can be contacted at the following office; !!

TP Adhikari & Associates, Chartered Accountants

2nd

Floor, 723/60, Tanka Prasad Ghumti Sadak, Anamnagar, Kathmandu- 32, Nepal

GPO Box No. 10915 Contact No: 01-4247816 / 4247917

Email : tpadhikari2012@gmail.com Fax: +977-1-4247917

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CONTACT PERSON: CA Thakur Prasad Adhikari Cell: +977 985109405