The Marketing Environment: Mitchell & Titus LLP
Unit 6- Marketing
BU-100 Introduction to Business
The Marketing Environment: Mitchell & Titus LLP
Mitchell & Titus is the largest minority owned accounting firms in the United States. It targets Fortune 1000 companies, financial services firms and not-for-profit, and governmental entities. However, all corporations must deal with several events and forces in the environment. This paper is about four of the major forces in the environment as they affect Mitchell & Titus LLP.
Competitive Forces
Mitchell & Titus is the largest minority owned accounting firm in the United States of America. They provide accounting, auditing, business advisory, financial planning, and tax services for various industries. The firm was founded in 1974, and became a member of Ernst & Young Global Limited in 2006 (Mitchell & Titus web site).
Mitchell & Titus major competitors are Watson Rice LLP, the second leading minority accounting firm in the United States. They also compete with the other three of the Big Four Accounting firms, which are Deloitte and Touche, Pricewaterhouse Coopers, and KPMG. While Mitchell & Titus compete with the Big Four, apart from their lead company Ernst and Young, they also depend on them in some instances to provide them with work. They capitalize on the fact that they are more flexible in price and services than the Big Four because of their relatively small size yet great reputation in the marketplace. Mitchell & Titus has fifteen (15) partners and over one hundred and twenty five (125) professionals. Membership in the Ernst and Young Group provides them with Marketing and other Management Leadership and puts them far apart from Watson Rice their main competitor, because the reputation and good management are the main ingredients that the market looks for (Dezube, 2008).
Economic Forces
The services which Mitchell & Titus provides is relatively price in-elastic as their services...