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Verizon Porter's 5 Forces

2044 Words9 Pages

There is an array of wireless and wireline services available today. With so much competition, how does a company differentiate its products and services from its competitors, and remain a leader in the industry. It would take a team of innovative engineers, employees, and strong business partnerships and relationships to provide a product that delivers and meets customer needs. This could not be done without teamwork from all levels of the business, all working together to achieve the same goal.
About
Verizon was formed in June 2000 as part of a merger with Bell Atlantic and GTE communication companies, and is based in New York City. Verizon serves 150 countries, and 2,700 cities, and provides wireless, television and internet service to …show more content…

All of which would be considered inter-brand competitors. Though Cox Communications does not offer wireless service, it is still a potential threat, because they offer wireline service. Verizon has a partnership with Comcast, whereby, consumers can purchase Xfinity bundled packages and buy its prepaid wireless service. Industry Position
Verizon is an industry leader in the markets of cellphone wireless service. It has been votes as the number one provider in its market over its closest competitors AT&T, T-Mobile, and Sprint. (Verizon, 2016) The company has been granted several prestigious awards in recent years such as:
• Best internet service provider - Awarded by PC Magazine
• America's #1 network, five times in a row - Awarded by RootMetrics®
• Ranked #1 on Top 50 Employers list - Awarded by Equal Opportunity Magazine
The only complaint of Verizon from reviewers and customers is that it is more expensive than many of its competitors for products like unlimited talk, text and 4G LTE data. (Tennant, …show more content…

Verizon advertising and marketing ads can be found on twitter, Facebook, and many other multimedia outlets as well as television and radio.
Verizon’s marketing objectives are extremely diverse and include such ventures as Mobile Video, Mobile Commerce, and Innovation Centers. According to Verizon’s own website, video content is projected to account for a majority of mobile network traffic by 2018 and Verizon has made investments in converging technologies and services involving content delivery networks, video streaming and related consumer hardware to leverage new content models. (“Verizon marketing plan - BUS100SLAMER,” n.d.)
When it comes to mobile commerce, Verizon believes that the company is well positioned to influence and benefit from the rapid growth of the mobile commerce market that is being driven by technology advances such as the proliferations of smartphones and tablets. The company has taken steps to promote point-of-sale purchases via their mobile phones through partnership with AT&T, T-Mobile, and newly-launched ISIS.
In the Global Market

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