Although Microsoft has obvious advantages in capital and personnel, Intuit has achieved success in the field of financial software. This can be attributed to the following key factors:
1. Differentiation strategy: Intuit not only provides basic financial software services, such as writing checks, clearing checkbooks and paying bills, but also provides non-software services for customers, such as special bills and forms. This differentiation strategy enables Intuit to meet the various needs of customers, thus forming a competitive difference with large companies such as Microsoft.
2. Focus on market segments: Intuit has been strengthening its position in the field of financial software, effectively occupying about 60% of the market share and becoming the most important force against Microsoft. The company has a deeper understanding of customers and adopts a centralized strategy to specialize in financial software business.
3. External market environment: The demand for fiscal and taxation services in the United States is rigid, and the high labor cost forces enterprises to rely on technical means to drive the industry to flourish. These external market environment factors have affected the success of Intuit.
4. Strong product capabilities: Intuit has outstanding product capabilities, turning the first-Mover advantage into a moat and fully gaining the industry growth dividend. This also provides a solid backing for the company in the competition with Microsoft.
To sum up, although Microsoft has advantages in capital and personnel, Intuit has successfully established its position in the field of financial software through its unique strategic positioning, focusing on market segmentation, utilizing the external market environment and strong product capabilities.