Topic > Intuit Pricing and Retail Strategy - 735

Intuit Pricing and Retail Strategy An organization's pricing strategy will vary based on multiple factors. An organization must understand the competition and market share, the supply chain, and the ultimate goal of customer retention. This article will review Intuit's pricing strategies.IntuitIntuit is a multinational corporation that provides products and services for both business and personal financial solutions. The Intuit name is well known throughout the Americas and continues to grow worldwide, primarily through branded products; such as TurboTax and QuickBooks, delivered through multiple sources; directly from the manufacturer, resold by independent distributors or accountants and in retail stores. Long-standing quality brands combined with competitive costs have enabled Intuit to gain a 90% market share in the market for self-prepared tax and small-to-medium sized business finance solutions (Lange, 2013). With such a wide network of different methods a consumer can purchase one of Intuit's products or services, pricing strategies can vary from one product to another or from one seller to another. TurboTax TurboTax is America's leading do-it-yourself tax preparation software or online service with significant product depth. TurboTax software is sold directly by Intuit and most major retailers such as Best Buy, Walmart, Amazon, and many others. Intuit uses a value-based pricing strategy combined with multidimensional pricing. Value-based pricing. Value-based pricing is reflected in TurboTax advertising which implies that a potential buyer should not pay more to a tax preparer when the tax preparer knows all the information he or she will need and simply has to…half the paper…. ..Lange, A. (2013). A wide moat leaves Intuit well positioned to compete with contenders. Retrieved from http://analysisreport.morningstar.com/stock/research?t=INTU®ion=usa&culture=en-US&productcode=MLEHerrmann, A., & Wricke, M. (1998). Multidimensional price evaluation. The Journal of Product and Brand Management, 7(2), 161-169. Retrieved from http://search.proquest.com/docview/220591542?accountid=38569 Petranovich, M. (2008). Now manufacturers can make more than the suggested retail price. Portland Business Journal. Retrieved from http://www.lanepowell.com/wp-content/uploads/2009/04/petranovichm_007.pdf Sotgiu, F., & Ancarani, F. (2004). Exploiting the opportunities of the Internet and multi-channel pricing: An exploratory research. The Journal of Product and Brand Management, 13(2),125-136. Retrieved from http://search.proquest.com/docview/220598061?accountid=38569