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Swot Analysis Of Verizon

1419 Words6 Pages

Verizon Wireless Verizon Wireless is a telecommunications company that offers wire, wireless and data transmission services that cover internet access as well as media broadcasting. The company formed in the year 2000 was as a result of a merger between GTE and Bell Atlantic. With the mention of Verizon Wireless, many people in the United States are able to associate it with everyday telecommunication solutions and as the leading service provider in the same industry. Under Verizon wireless, there is Verizon telecom, Verizon wires and Verizon business. With a mission to empower people as well as businesses in communication, the company endeavors to provide open communication with all its stakeholders. The company’s strategic plan is creation …show more content…

It can also mean the level of competition and product differentiation where the main structures are monopolies, oligopolies, monopolistic competitions and perfect competitions. Verizon wireless is an example of an oligopoly because it does not have any major competitors especially after the merger of the previous companies. Additionally, the market consists of a large customer base while there are also barriers in accessing this pool. Hough the platform is seemingly competitive, only a few market players dominate the market where the barriers are caused by high cost of infrastructure required for reliable …show more content…

In order to attain this advantage, businesses use cost of leadership, differentiation and focus strategies. Focus strategy as the name suggests concentrates on specific market segments where the product or service thrives. The business then customizes its products to fit such a market. Verizon wireless already has the market and the quality of its services and products determines the level of satisfaction. Differentiation seeks to develop a competitive advantage by supplying and promoting unique products. While telecommunications is not very unique, not every other business can be able to offer the same services. In addition, competition remains limited due to the cost of market entry. Cost of leadership focuses on reduction of operating costs in order to reduce product prices. Verizon wireless does not require reducing its operating costs further because its prices are already competitive enough. Effectiveness With demand and supply

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