The cell phone industry is one of the most competitive industries among all industries in the world. This is because it’s based on technology which changes on a daily basis. The decision makers of the companies in this field are thus faced with a challenge of making correct choices while acquiring resources, adopting new technologies and developing new marketing strategies as well as a clear understanding of all of their strengths and weaknesses. Verizon wireless is one such company that owns and operates a wide range of products and services including cell phones, internet and other technological ventures worldwide. We are going to discuss its objectives, the basis of its strategy formulation and its capabilities that can help us jumpstart our company.
Verizon wireless company under the umbrella of the Cellco Partnership was incorporated in April of 2000 and started conducting its operations in the American market. It has ventured into service provision like offering networks to governments, residential homes as well as to small medium or large companies through its optic fiber. Currently, it has employed the latest CDMA technology used to handle voice transfer, data maintenance and signaling among the cell phones of individuals and organizations in its operations (Privacy Rights Clearinghouse / UCAN, 2010).
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The main objective of the company is to provide services that are reliable with certainty to all stakeholders. It seeks to offer satisfaction to its subscribers who include families and individuals through its quality and reliable services. This is due to the vision, that the founders had in mind when they were merging to form this company in the early 90’s, of making profit while adding value to the society. This has continually made the company to not only maintain high turnover in profit but also add value to the community.
The founder partners GTE and Bell Atlantic, who were also operators for along time, set standards for themselves and were both visionary in their operations. That is why according to one journalist the services offered by the company have ensured that Verizon wireless subscribers are the lowest inter-cell phone migrants. This means that the competitors in the market have a hard time breaking the code of operation that the company employs. The company has various strengths that it has fully utilized in business and has therefore gained that competitive edge. First, due to its massive investment, it has focused on network strength, an appealing move to today’s fast track consumers. This is because the communication hardware namely the optic fiber at its disposal ensures a superior network quality. The branding of the company is the second issue that can be analyzed as its strength. According to Buscemi (2008), the branding perception that the consumers have ensures their loyalty regardless of what the competitors have to offer.
Another strong point that this corporation has is the pricing models and a wide range of phones in the market. There is a large investment on the research that seeks to find what the organization’s stakeholders who include the manufacturers and consumers alike are looking for. The prices are packaged in such a way that they are friendly to different classes and tastes of consumers. If well packaged, price can appeal to a wide range of customers thus increasing the profit base. A mobile phone model variety that is coupled with extensive marketing to all the market range can boost the company’s general image and subscription, a strength we should seek to possess. Verizon wireless through its mission of certainty and reliability has been able to brand its image through the provision of these products and thus emerge as a market leader.
Strategy is the basis of what any company bases its development and is the key to which longevity is determined (Todea, 2006). Verizon wireless has a strategy of introducing outside devices and application to work hand in hand with the ones that are in use internally. This is a form of outsourcing of some of its very important activities that need to have maximum attention. Outsourcing ensures maximum efficiency and effectiveness that is cost friendly as it involves professionals (Aun, 2007). Another strategy that Verizon recently said is ensures foreign vendors don’t hack their devices into the network of the company. This through the process of embedding of its protocols so that it can be confirmed whenever such activity is taking place. This is a strategy that lowers the risk of inconveniencing the operations.
The resources that the company has include the assets of its partners as well as a heavy investment of machinery and employees. It’s this capability that makes the company invest and diversify all its operation. There is the ability of splitting of the services in such a manner that there is ease of operation and maintenance which are both costly affairs. All these strengths and strategies can also be adopted into our company through professional branding and identity to make customers be able to relate to the company. Our company can be able to offer a variety of services and products like cell phones that appeal to both the low and higher class. A pricing strategy that is sensible can get the competitors off especially now that the economy is on downward trend.
Verizon wireless has a strategy of outsourcing and keeping hackers at bay who affect the operation of the network, it also maximizes its financial strength on research and diversification. These are activities that can be adopted and implemented by any company to jumpstart operations that appeal to the whole world. Certainly, this company has a lot that we can borrow to make our own company equally competitive.
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