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H&R Block Marketing Plan

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Angel Gonzalez

on 23 April 2015

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Transcript of H&R Block Marketing Plan

H&R Block Marketing Plan
Executive Summary
Market Needs
H&R Blocks wants to raise awareness to the target market about the benefits of filing tax returns and be in compliance with IRS regulations.
Provide service to customers to make them feel their taxes have been filed correctly

Market Trends
Most people who have income in the United States are required to file a tax return. Therefore, the amount of tax returns that are filed should increase from 27 million.
H&R Block expects a steady growth in the ITIN applications from January to April and then a decrease until next year due to tax season.
H&R Block will position itself as the most trusted tax service company for both documented and undocumented workers.

Situation Analysis
H&R Block is the largest tax services provider in the United States.
One out of every six tax returns are filed with H&R Block.
Demographic research suggests growth in undocumented workers filing their taxes

Target market are undocumented individuals aged 20 - 24 in the Dallas area
63% of individuals between 20 - 24 are in the work force.
Targeted population is around 500,000 individuals
39% of DFW population are Hispanic
23% of that population was born abroad
IRS estimates that around 6 million undocumented immigrants file tax returns every year
SWOT Analysis
Marketing Strategy
Focus on local, Spanish TV commercial advertisements
Bundle when preparing many years of tax returns
Angel Gonzalez
Todd Cohen
Yvonne Martinez

April 21st, 2015

Market Summary
H&R Block name and reputation
11,000 physical locations nationwide
Possess enough capital to start new programs to attract new customers
Dominant market share compared to its competitors
Many physical locations are closed after tax season ends, loss on potential revenue
Revenue decreases significantly from May through December
Physical locations represent fixed costs
Potential for expansion for bookkeeping and payroll services
Potential for international expansion
Increasing number of Hispanic population
Tax law changes

Increasing number of self-prepared tax returns
Potential regulation on tax professionals
Liberty Tax
Jackson Hewitt
Service Offering
Increase the number of Certifying Acceptance Agents (CAAs)
Keys to Success
Communication is the most important quality to the company’s future success
Reaching out to undocumented workers will require a cultural and language meshing
Educating clients, often with a language barrier, about a very complex subject.
Critical Issues
H&R Block will need to increase the number of Spanish speaking associates in order to accommodate the client's needs.

Gaining trust by increasing awareness

H&R Block is committed to maintaining the highest standards of integrity and professionalism in our relationship with clients. H&R Block endeavors to know and understand client’s financial situation in order to provide them with the most accurate tax return.
Marketing Objectives
Retain at least 80% of ITIN applicants for five years

Increase ITIN applications by 10% per year

Increase training for tax professionals
Financial Objectives
Increase revenue by 20% on the Dallas and North Dallas districts for the first year.

Maintain a steady 10% growth over the course of five years.
Target Market
10-15 mile radius within two regions located in Garland and Mesquite Texas.
The undocumented worker population in Texas is increasing at a quicker rate than any other state in the nation.
Specific historically Hispanic neighborhoods
Create customer awareness of offered services
Seek to communicate that the company offers the most confidential and helpful tax resources
Provide understanding about the ITIN option for undocumented workers
Advertisements placed on Spanish channels on televisions and radios, since the majority of undocumented workers are Hispanic / Latino in the Dallas area

Marketing Mix
$30 when utilizing the services of a Certifying Acceptance Agent.
Hand out brochures and answer questions.
Advertising and Promotion:
Information will be available in bilingual pamphlets, will be shown on local Spanish television and radio commercials.
Awareness will also be spread by ways of local public events held in these specific areas such as sports events, concerts, public parks, etc.

Marketing Research
Based on geographical and demographical research, H&R Block found that the Dallas area would be a good place to spread awareness for people to obtain their ITIN’s.

Upon further research, H&R Block looked up specific neighborhoods that are historically Hispanic. It also took into account locations of businesses that specifically help undocumented laborers find specific projects or one-day jobs.

H&R Block will increase their filing of taxes from undocumented workers.

More customers will be aware that although they may not have a Social Security Number, it is possible to file taxes with a ITIN

It is expected to enlarge the customer base by 15% with special emphasis on the undocumented workers.

By increasing the ITIN service, H&R Block will have a competitive advantage over its competitors

Taking this suggestion to implement awareness of the Individual Taxpayer Identification Number will allow continuous growth.

We have decided to add a particular niche service for the tax preparation company
H&R Block, to increase profits and raise revenue. To accomplish this task, our group has decided to spread awareness and increase the number of employees that are dedicated to providing undocumented workers with ITIN identification codes.
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