s are also increasingly choosing the online and subscription versions of the company’s QuickBooks offerings, for which it recognizes revenue as the services are provided. Customer acquisition for these offerings tends to be highest around calendar year end, during the company’s second and third fiscal quarters. Markets The company’s primary target customers are small businesses, consumers, and accounting professionals. Sales and Distribution Channels The company sells many of its products and services for small businesses, consumers, and accounting professionals directly through its Websites and call centers. The company has a direct sales force that calls on U.S. and international accountant firms and seeks to increase their awareness and useage of its Small Business ecosytem solutions. The company’s consumer and small business customers increasingly use the Internet and mobile devices, such as smartphones and tablets, to research products and services. The company sells many of its products and services for small businesses, consumers, and accounting professionals directly through its Websites and call centers. The company sells its QuickBooks and TurboTax desktop software, as well as payroll services and merchant credit card payment processing services at retail locations across the United States. The company sells these products and services directly and through distributors to office supply superstores, warehouse clubs, consumer electronics retailers, general mass merchandisers, online retailers, and catalogs. In Canada and other international markets the company also relies on distributors and other third parties who sell products into the retail channel. The company distributes many of its offerings for mobile devices through proprietary online stores that provide applications for specific devices. These include the Apple App Store, which provides apps for the Apple iPhone and iPad, and Google’s Play Store, which provides apps for Android-compatible smartphones and tablets. The company sells its consumer and small business products and services through selected alliance partners, primarily financial institutions and target partners. The company has strategies to address the alliance partner and solution provider channels. It sells its consumer and small business products and services through selected alliance partners, primarily financial institutions and target partners. Intellectual Property The company has various registered trademarks that include Intuit, QuickBooks, TurboTax, Lacerte, ProSeries, and Mint. It has registered these and other trademarks and service marks in the United States and, depending on the relevance of each brand to other markets, in many foreign countries. Most registrations can be renewed perpetually at 10-year intervals. The company also licenses intellectual property from third parties for use in its products. Competition Small Business: The company’s small business products and services face competitive challenges from companies, such as The Sage Group plc, which offers software and associated services that directly target small business customers. The company’s small business products and services also face competition from newer online accounting offerings from companies, such as Xero. In its payroll business the company competes directly with Automatic Data Processing, Inc. (ADP) and Paychex. In its merchant services business the company competes directly with large financial institutions, such as Wells Fargo, JP Morgan Chase, and Bank of America and with many payment processors, including First Data Corporation, Elavon, Global Payments, FIS-Certegy, PayPal, and Square. Consumer Tax: In the U.S. private sector, the company faces intense competition from H&R Block and a competing software offering called H&R Block At Home. The company also faces competition from various other large tax preparation service providers, from a myriad of small tax preparers, and from various online self-preparation offerings, including Blucora’s TaxACT. In Canada, its TurboTax Canada offerings face competition from H&R Block, SimpleTax, StudioTax, and U-File. P
(INTU:Consolidated Issue Listed on NASDAQ Global Select )
2700 Coast Avenue
Mountain View, CA 94043
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