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Verizon Wireless Presentation
Transcript of Verizon Wireless Presentation
Bell Atlantic Subscribers: 90.1 Million Advantages: Typically first carriers of new devices Advantages: Advanced 3G network Subscribers: 34 Million Advantages: 4G and Low Comprehensive Unlimited Prices Subscribers: 48.2 Million
Social Responsibility Marketing Mix Products and Service
Product and Service
1995 Bell Atlantic Mobile and NYNEX Mobile Communications merged in 1995 to create Bell Atlantic - NYNEX Mobile Birth of Verizon Verizon Takes the Lead Merger with Alltel 1999 2000 2009 Vodafone AirTouch announced a $90-billion joint venture with Bell Atlantic Corp. to be called Verizon Wireless With the addition of GTE wireless assets, Verizon Wireless becomes the nation's largest wireless communications provider Verizon acquires Alltel and cements itself as the largest network provider in America Customer Service Number One Ranked by J.D. Power and Associates Three Things that Make Verizon Number One one Most Subscibed Customers two Performed well with identifying and resolving customers' problems quickly three good at in-store resolutions What are the Consequences? There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else. - Sam Walton
Marketing Strategy: Concentration on devices and target younger generation
Marketing Strategy: Have the "coolest" devices and convince people that their service quality is the best Marketing Strategy: High Speed with low prices
Target Market of Blackberry:
Primarily Business Users
Target Market of Droid:
Entertainment Seeking Individuals
Status Seeking Individuals iPad
First available Apple product.
Shift toward data services WiFi Hotspot
Mobile Connectivity Service
Best talk and data coverage
Practical (Differentiated by Service)
Stores and Premium Retailers
Conveniently located at shopping centers and retailers
Marketing "It's the Network" "The IN Network" "We Never Stop Working For You" "Can You Hear Me Now? Good" "Join IN"
"Droid Does" "Rule the Air" NFL 2010-Verizon paid $720 million to be the exclusive sponsor of the NFL from Sprint Advertising Warranty Drip, Drop Woops! Cover only Theft, Accidents, and Loss $4.99/Mo
$119.76 in 2 Years $5.99/Mo
$143.76 in 2 Years $7.99/Mo
$191.76 in 2 Years
$99.00 in 2 Years www.squarestrade.com Problems What is Customer Service? "a wide variety of activities intended to ensure that customers receive the goods and services they require to satisfy their needs or wants in the most effective and efficient manner possible." - Marketing Dictionary Why is it Important? The well-satisfied customer will bring the repeat sale that counts. - James Cash Penney Service Disconnect How many of you have had phones replaced? What was the main reason? Verizon Store Verizon Call Center Sale driven and, with the added pressure of corporate and high commisions, will go to great lengths to make sure that the secure the sale. Customer happy with their purchase and most of the time have no further service problems Most of the calls recieved are "angry" cutomers who have realized that they did not get entirely what they agreed with the sales representative about or have cell phone issues A majority of the "angry" customers get off the phone still angry as the representative, in most cases, does not have the power to "give me my money back" or "send me a better phone" (two most common phrases) Educate Customers More on what Customer Care can help with New Marketing Strategy: Use superiority in Customer Service as a selling point Incorporate drop and water damages to their phone warranties to take advantage of an ignored customer need Ie. By educating sales reps, including information packet in cell phone boxes, or providing clear link to information on website Ie. Run new commercials that emphasize the the store, website, and product experience since it is considered the best in the industry This would be a new selling point for Verizon, be a first (among the major cellular providers) and be an answer to a need customers have Ranked 41st Ranked 61st Pricing Relative to Competitors Product Bundling
Quad Plan Premium Retailers Do not offer full Verizon services
No warranty service
Only supply limited parts
Provide basic phone packages only Remove or Upgrade Premium Verizon Outlets These outlets are the face of Verizon even though they are not official Verizon stores. People equate them with Verizon and expect the same service they would get at any other Verizon store in terms of service and products (including parts) "In business, the competition will bite you if you keep running, if you stand still, [the competition] will swallow you" - Victor Kiam (Former CEO Remington Products) What is 4G? Next Generation of Data Services 3G v 4G Speed: 1.5-3 Mbps Speed: 5-12 Mbps When? December 2010 Where? 38 Cities Covering 110 Million People Why? Verizon and AT&T account for 70% of the market for data services revenues, and 62% of its subscription base Transition to data based services Layout Introduction of the company
Overview of industry and Verizon's current marketing efforts
Recommendations Recommendations Target the Elderly and Youth more More Data Service Centric Smartphone Position Remove or Upgrade Premuim Retailers Add Drop and Water Damage Under Warranty Correct Disconnect between Stores and Customer Care Representatives "Indestructable" Smart Phone Buzz Marketing to Promote 4G Marketing of Possitive Social Verizon Undertakings 4G: Market Penetration Pricing
Unbundle Service from Phone More iPhone: Style Conscious Buyer/
Apple Junkies Droid: Techies/Cutting Edge/
Apple/Microsoft Haters Lifestyle Simplifier/New and exciting Android: Lower End Anroid Devices
= More Entry Level Smartphones Blackberry: Business
- Businesses/Business people
- 93 Million customers
- Other providers current customers
- Mature industry = Small opportunity
for new market niche Target Markets Industry Ologopolistic Competition
High Barriers to Entry
Shift in Services
High Competition for Existing Customers
Difficult to Find New Customers 1.5-3Mbps 6-12 Mbps There's a Map for That