Verizon is a technological and networking company which design, build and operate worldwide networks, Mobile telephony and information systems which help the companies to grow and excel in their businesses.
Verizon ranks 13 in the fortune 500 lists of companies. Recently it acquired yahoo’s digital assets for $4.83 bn in cash. Verizon strategic acquisitions have helped the company in creating new possibilities for their customers and transforming the industries as well.
Segmentation, targeting, positioning in the Marketing strategy of Verizon –
Since Verizon is serving both B2B & B2C customer, it uses geographic and behavioural segmentation strategies to segment the market and provide customised services to the customers accordingly.
IT/ telecommunication and networking industry solely run on customization i.e. as per the requirement of the client/ customer, therefore Verizon always uses differentiated targeting strategy to facilitate the same.
Verizon uses usage and product based positioning strategy to create an image of technologically advanced and diversified telecommunication company.
Marketing mix – Here is the Marketing mix of Verizon.
SWOT analysis – Here is the SWOT analysis of Verizon.
Mission- “Not Available”
Vision-“Simple, smart, and connected seamless experience every time customer interacts with Verizon”
Tagline-“We deliver the promise of the digital world”.
Competitive advantage in the Marketing strategy of Verizon –
Strategic partnerships like those with Google for leveraging mobile platform & many others and acquisitions like acquiring Yahoo’s digital assets or AOL or acquiring Hughes telematics; these strategies has helped the company in building the networking / communication structure.
Broad product/service portfolio such as wireless/ wireline, Mobile and broadband networking has helped the company in retaining its quality customers by offering them a bouquet of interrelated services at the competitive price under one roof.
BCG Matrix in the Marketing strategy of Verizon –
Its mobile network communication which consists of 98% U.S wireless coverage, Cable & Internet services and cloud computing vertical are Stars in the BCG matrix. This is because they have huge competition. But at the same time, the market growth rate of this segment is very high especially when we consider the data consumption.
Distribution strategy in the Marketing strategy of Verizon –
Its strategic acquisitions and partnerships have helped the company in delivering superior network services through its platforms while developing existing platforms to suit the customers’ requirement to fulfil their promise of the digital world.
Brand equity in the Marketing strategy of Verizon –
Being a leadership company in the network and communications, Verizon is exploring the possibility of expanding its services which helped the company in working with fortune 500 companies and improve upon its connectivity & solution infrastructure.
Competitive analysis in the Marketing strategy of Verizon –
Being in a technology is driven industry, the marketplace is competitive due to the presence of large MNC, local players hovering in the market and differentiating the customer service experience is what will help the companies to strategize and build an infrastructure to support and fulfils its mission.
Market analysis in the Marketing strategy of Verizon –
IT & telecommunication industry is crowded with the large no. of local, national and MNC players who are eating up each other’s market share. The main bottleneck to an organisation in these industries is the cost of the resources. Moreover, these companies outsource their secondary activities while critical & company-specific activities are handled by the company itself.
Customer analysis in the Marketing strategy of Verizon –
Customers of Verizon are the companies from various industries whether it is Healthcare, Education or government organisation, Verizon helps them to co-create their digital platforms with the help of its IT competencies.
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