Verizon SOOT Analysis Strengths Weaknesses High customer retention rates when compared to other carriers Solid increases in new subscribers, especially smartened users Infrastructure investment Verizon Communications’ Bios network Higher prices when compared to other players Presence limited to primarily Americas and not a major player like a few other established telecoms operators Lack of emerging market exposure Opportunities Threats The company is well-positioned to capitalize on growing markets Cost efficiency of converging telecoms services Strategic Acquisitions
Staff Turnover might result in loss of knowledge Federal Communications Commission Regulations Intense Competition in the saturated US market Verizon Communications Inc. Known as Verizon is a provider of communications services. The company provides an array of broadband, wireless, and wire lines services to business’ big and small, government, mass market, and wholesale customers. They are the leaders in the telecommunications industry as they are greatly pursued by the masses. The company’s solutions include wireless voice, data services and other valued services.
Other services they provide are internet access, roadman video and data, Internet protocol network services, network access and other services. Verizon provides converged communications, information and entertainment services in the US through its fiber optic network (BIOS). Verizon offers business solutions to customers in about 1 50 countries across Americas, Europe, the Middle East, Africa and Asia Pacific. As a multinational corporation Verizon Wireless is very well positioned and delivers great coverage for customers to take advantage of.
Verizon strengths are its resources and capabilities that can be use as a basis for a nominative advantage. Verizon business strategy is to archive a sustainable competitive advantage such as cost advantage and differentiation advantage. Verizon is able to deliver the same benefits as the other communication companies, but a lower cost, which is cost advantage or deliver benefits that exceed the competing products which is differentiation advantage. A competitive advantage enables Verizon to create great value for its customers and good profit for itself.
Verizon has exceptional signal throughout the United States and other countries and with great Verizon Soot Analysis By endurable be pricier, but the quality of their service is exceptional. The solid increase in their new subscribers especially smart phone users smartened service roughly doubles the cost of phone service, so the strong increase of the sale of smartness will undoubtedly increase revenue from data plans. The company invests a great amount into their signal towers and their fibrosis networks in order to give the best possible signal.
Investing in their infrastructure is a long-term investment, which is expensive, but the payout is much larger with new and existing customers. Verizon is a well-known carrier with great service given their stance among the telecommunications carriers; Verizon is priced on the higher end of the spectrum. Even with their family plans and bundle deals an average family of four will pay $180 when compared to Sprint or T-Mobile the price can range from $80-$100. This is a set back for many people especially in this economy when choosing carriers, but they must see that when they purchase Verizon they are also buying a reliable network.
Verizon is very big in the United States, but they can increase their presence in the international spectrum. Increasing their presence will also establish their brand name internationally and increase revenue. They need to be innovative and risk takers in the emerging markets in order to be considered and investing in their company globally will increase their reputation and consumers. This is especially important, as they are already an established brand in the United States.
Verizon is in a great position to capitalize on growing market sectors such as the sale of cloud, data, security, and networking services worldwide. Part of Verizon’s strategy is to capitalize on opportunities in the large-business, education, and government arrests. Verizon partner with other companies like MS offering MS premium free to Verizon DSL customer. Verizon also collaborate with modems and routers companies like Westerly and Links, the newest partner is action. They partner with these technology companies to be cost efficient.
Verizon provides a key advantage over cable companies seeking to build similar networks, they can convert to a single network which will keep them running smoothly and efficiently. This will also help customer service when having a centralized network. By being partner with these companies, Verizon capitalize on all opportunities to make profit. Verizon can create acquisitions with manufacturing company or any other company that will better serve their purpose and they will be able to launch new services and products in the future giving more reputation to their already reputable brand.
Verizon is a very dominant phone service company offering services that range from basic home telephone lines to a fast connecting internet service. Although Verizon is one of the top companies for DSL online service, it is not the only company offering this similar type of service. Also a big company like Verizon trains their employees exceptionally well. Many competitors would like to hire Verizon employees and explore their knowledge of he industry. Employee retention is a threat to Verizon as keeping turnover is a factor in any industry.
One major threat to Verizon like any is a difference between the types of internet service, each company is offering it is important for Verizon be ahead of the game and their strategic plan to remain successful in such a fast competitive market for online service. Verizon has to invent new technology and innovative ways to improve their online service and offer the nonuser a service that no other company can offer at the present. This is vital to keep the company running from competitors in a saturated sector.
Competition is everywhere especially in pricing, but that is more of a weakness but competition in terms quality is a threat as a consumer might see the difference and decide otherwise. The FCC regulations and policies promote competition between carriers with their rules. The FCC can impose regulations that cause Verizon to invest more in leasing lines. They can also increase regulations on new contract terms or any other issue that will directly impact Verizon.