Accountants Don't Understand Marketing ~ True or not?

GinnyBee

I've been reading an article which states that Accountants don't understand marketing. Do you think this is true? Why?

One accountant quoted had this to say about marketing: 'I can tell you that marketing doesn't work for us so we try not to do any'. Is s/he correct or misguided?

stefanboro

You get this topic coming up now and then. Thinking about this with even just a slight degree of logic really makes you see what utter tosh it is.

I cannot do DIY stuff.
I CANNOT and simply REFUSE to cook.
I enjoy walking the North Yorkshire moors.
I simply love The Walking Dead.
I am an accountant.

Now, I really don't care if a peer reviewed piece of research claimed that the majority of accountants are also like this. The fact is we are more than just accountants - we all have our individual abilities and interests. Maybe a lot of accountants in practice simply haven't got the knowledge, courage or financial ability to market themselves in different formats. Some, particularly with twitter, do it too much. Generalizing a profession however is, to my mind, inquisitive laziness on behalf of the thinker.

jamesm96

GinnyBee wrote: »

'I can tell you that marketing doesn't work for us so we try not to do any'.

Well, I'd say that whoever said this doesn't understand marketting. But to say that accountants in general do not is a massive generalisation. A person's ability to understand the double-entry system and UK GAAP bears no relation to a person's understanding of how a business interacts with its customers.

Strip marketing back to it's four basic elements - those four Ps; though I'm aware that there are variations on this theory. One of the Ps is Price. So to say that 'marketing doesn't work for us' means they don't have prices. Or, if they do, they don't have any strategy as regards their prices... but I bet they do.

I suspect this person meant 'advertising doesn't work for us'. But that's just one element of the 'Promotion' of a business; a very small part of marketing.

Stefan is completely right, everyone has their own strengths! You just can't say 'no accountants understand marketing', it's too general.

Dean

jamesm96 wrote: »

Well, I'd say that whoever said this doesn't understand marketting. But to say that accountants in general do not is a massive generalisation. A person's ability to understand the double-entry system and UK GAAP bears no relation to a person's understanding of how a business interacts with its customers.

Strip marketing back to it's four basic elements - those four Ps; though I'm aware that there are variations on this theory. One of the Ps is Price. So to say that 'marketing doesn't work for us' means they don't have prices. Or, if they do, they don't have any strategy as regards their prices... but I bet they do.

I suspect this person meant 'advertising doesn't work for us'. But that's just one element of the 'Promotion' of a business; a very small part of marketing.

Stefan is completely right, everyone has their own strengths! You just can't say 'no accountants understand marketing', it's too general.

Liking this reply Mike! Go on then, seriously impress me - what are the other three elements to Promotion?

Id re-post Mike's reply and watch whoever came out with this disappear rather quickly.

Regards

Dean

Monsoon

It's a stupid generalisation, obviously.

Some accountants happen to work for themselves and are accountants, not really business people. These people may or may not be very good at marketing.

Some business people just happen to be accountants and they understand marketing very well, thank you very much. Just have a look at Elaine from CheapAccounting for one excellent example.

jamesm96

Dean wrote: »

what are the other three elements to Promotion?

There are THREE more??? Wowza.

Dean

jamesm96 wrote: »

There are THREE more??? Wowza.

Yep. The Marketing mix has 7 'Ps' in total and one of them, the Promotion or the 'Communication mix' is further broken down into four elements - Advertising being one. The other 3 are:

1. Public relations
2. Personal selling; &
3. Sales promotions (competitions, BOGOFs etc.)

Regards

Dean

jamesm96

Dean wrote: »

The Marketing mix has 7 'Ps' in total

Blimey. You'll be telling me there are 9 'M's elsewhere next.

:001_tt2:

Dean

jamesm96 wrote: »

Blimey. You'll be telling me there are 9 'M's elsewhere next.

:001_tt2:

Don't be daft! This thread is about Marketing not the Resource Audit!

Regards

Dean

jamesm96

Dean wrote: »

Don't be daft! This thread is about Marketing not the Resource Audit!

Regards

Dean

Audit... now there's a topic with a LOT of acronyms!