6. TurboTax: Consumer Analysis for Tax Software

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TurboTax: Consumer Analysis for Tax Software

Intuits TurboTax product has been the lead do-it-yourself tax preparation product for over 25 years. In the tax-preparation market, there are essentially two key market segments: the DIY (do-it-yourself) segment, and the DIFM (do-it-for-me) segment. In an attempt to expand the DIY segment, TurboTax targeted younger, price sensitive, Millennial consumers with a very simple, free product. With its new product, TurboTax Absolute Zero, aimed at the On-My-Way segment, Intuit identified 17 million potential buyers. These simple filers were offered a completely free product with a message of Snap, Tap, Done.

Having analyzed the consumer behavior as one of fear, doubt, and uncertainty, TurboTaxs objective is to develop trust and familiarity with the brand. The annual behavior of filing with TurboTax would habituate the younger filer to the process and brand. In order to monetize the target segment in current years, the firm offers filers bundled packages of add-ons that are optional for the On-My-Way segment. Absolute Zero was successful in capturing the Millennial tax filer as TurboTax expanded its market share from 40% to 58%.

This activity is important because IMC managers need to be able to understand consumer behavior and emotions and respond appropriately with a communication and product strategy.

The goal of this exercise is to apply consumer behavior analysis for the TurboTax product and develop a responsive IMC program that correctly addresses consumer emotions.

6a. What are the key emotions that influence con...

What are the key emotions that influence consumers purchase decision for tax preparation software products such as TurboTax?

a) fear, doubt, security

b) uncertainty, doubt, joy

c) fear, anger, status

d) security, status, excitement

e) fear, uncertainty, doubt