November 3, 2022

Is Deloitte a Service Based or Product Based Company?

Deloitte is one of the few professional services networks that has sustained itself in a globalised economy. For over a century, the company has provided high-quality services to clients. Many Fortune 500 companies have used their services to improve their operations.

Deloitte has hundreds of skilled professionals working for them. And because of its massive size in the industry, there are many speculations and questions about its successful business model.

Today, we answer one of the crucial questions “Is Deloitte a service based or product product company?”

5 Reasons Why Accenture is a Service-Based Company

These are the reasons why Accenture is a service-based company:

1. Meaning

Deloitte offers solutions in the form of services customised to clients’ requirements.

Unlike product-based companies who create a product for a specific need and distribute it to a broad audience. 

2. Deadline

Deloitte clients agree on a project time frame tailored to their specific requirements after consultations.

Unlike traditional product-based companies where internal management decides the project deadline according to market conditions.

3. Turnaround Time

Deloitte turnaround time is low and depends on the client’s unique needs. Many Deloitte clients have been with them for many years due to continued service requirements.

Unlike product-based companies, where turnaround time is very quick as the quality and well-marketed products are purchased immediately by the customers.

4. Team Size

Deloitte maintains large team sizes, and the teams are considerably more distributed, with one or more people performing remarkably similar tasks.

Unlike product-based companies use relatively small, close-knit teams, with each member performing a specialised and outlined responsibility.

5. Marketing

Deloitte spends a very minimal amount on advertising and instead approaches target customers to give personalised services.

Unlike product-based companies who invest a significant amount of their revenue in marketing their products.

FAQs

1. Is Deloitte a Product-Based Company?

No, Deloitte is not a product-based company because it does not create a product for a specific need and distribute it to a broad audience.

2. Is Deloitte a Service-Based Company?

Yes, Deloitte is a Service based company because it offers solutions in the form of services that are customised to clients’ particular requirements.

3. Why is Deloitte a Service-Based Company?

Deloitte is a service-based company because its turnaround time is low and has large team sizes, in addition to its modest marketing budget.

4. Why is Deloittenot a Product Based Company?

Deloitte is not a product-focused company because its marketing budget is modest, and clients set deadlines based on their needs.

The Bottom Line

We hope this article helps you understand the reasons why Deloitte is a Service based and not a product-based company. Have any questions or suggestions? Feel free to post them in the comment section.