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Verizon Marketing Assignment

In: Business and Management

Submitted By marshalle
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Marketing SWOT Analysis

Verizon’s marketing plays a central role in the emerging of FIOS. The finance department has provided the marketing department with a 80 million dollar budget for FY 2009. The FIOS fiber optic product stimulates and improves the quality of life for customers. Thirty –five percent of the markets that Verizon serves are multicultural, this diversity is reflected in our marketing efforts and how we communicate with our customers. We, at Verizon speak the customer’s languages and participate in their lifestyles. Besides the traditional marketing tactics, such as billboards, television ads, online advertisements and coupon mailers, Verizon partners with various agencies and communities to market both our products and services. Verizon markets our services through sponsoring events such as Cinco de Mayo, Hispanic Heritage Month, Black History month and the NAACP Image Awards, just to name a few festivities. Agencies that Verizon partner with include but are not limited to, government agencies, telephone service in the government agencies, schools, universities, local apartment communities and local businesses in the area, Department of Correction as well as Verizon very own competitors. Verizon is partnered with Direct TV, a competitor, if is not available in a geographical area, the customer is provided with Direct TV services and Verizon DSL. Internet discount services are offered to schools and universities for both teacher and student use. Verizon has recently received approval to install the FIOS network in New York University’s faculty housing. Verizon uses marketing vehicles such as MTV Real World and Nick online to market to teen (ages 12-19) and also tweens (ages 8-11).Verizon is enhancing is recently launched Widget Baazar, the social widgets, Tweeter and Face Book are available to FIOS customers to interact and communicate with friend and family while watching television in the comfort of their home. The Widget Baazar allows FIOS customers to update their Face book status while watching TV and the use of an onscreen keyboard to send tweets.

Verizon networks are used in hospitals, as the health care industry becomes paperless, it is essential to protect patient information. Verizon is unveiling new capabilities designed to help safeguard the growing exchange of electronic patient data between hospitals, clinics, physician’s insurers and patients.

|Strengths |Opportunities |Weaknesses |Threats |
|Size and quality of network |Further /continued expansion in |Geographic concentration |Competitor mergers |
| |local market area | | |
|Strong bandwidth, leads industry in|International markets |Customer service-education of the |Intense competition |
|providing 100% digital TV | |FIOS network by representatives, | |
| | |products and equipment | |
|Leader in innovation |Strategic acquisitions |All Verizon channels are not high |New technoploghy |
| | |definition, Verizon has 100 HD | |
| | |channels, the rest are digital | |
|Growth in Verizon FIOS television | |Comcast internet security FREE, | |
|and high-speed internet subscribers| |Verizon internet security cost | |

1Q’09 Marketing Developments

• Over the past yr. Verizon has added more than 1.1 million FIOS TV customers, has expanded the availability of FIOS triple play bundles of voice, internet & TV service by 46.4 %

• Verizon continued to challenge its cable competitors by adding more value to FIOS TV, including more high-definition channels, more Video on Demand choices & interactive social TV features

• In April, Verizon expanded its free remote-DVR management service, plus offered Web-based remote DVR management service to all FIOS TV DVR customers, this service allows customers to remotely review, change or add recording request, delete recorded programs, search TV and video on demand listings, set parental controls and

• In June, Verizon doubled-to-quadrupled the upstream connection speeds and increased downstream connections speeds of its most popular FIOS internet offerings

• FIOS internet service and download speeds of up to 50 Mbps(megabits per second) and upload speeds of up to 20 Mbps is available to all customers in all markets-**Comcast extreme internet speeds are 50/10**

• In July, Verizon introduces its Widget Bazaar, onscreen access to Facebook, Twitter

• Marketing agreements & sales to multi-dwelling units continue to grow, with more than 1.2 million units open for sale

• Verizon is currently building its all-fiber-optic network using gigabit passive optical network (GPON) technology, the second generation of optical networking equipment. More than 40% of homes passed by fiber will be served by GPON technology by the end of next year

Verizon FIOS continues creating the ultimate broadband and home entertainment experience with its faster broadband speeds, both downstream and upstream. Verizon has extended its compelling incentives for consumer to subscribe to FIOS. New customers who order qualifying FIOS bundles throughout the remainder of the year are eligible for a free Compaq Mini net book or a Flip Ultra camcorder. Verizon will also be continuing its price guarantee for stand-alone, DSL-based High Speed Internet and a similar camcorder and net book incentive will be available for customers.

Verizon has launched FIOS1 channels on Long Island and in Northern New Jersey. Verizon FIOS TV subscribers in Long Island New York and in nine counties in northern New Jersey have new choices for local information, entertainment and sports on two new channels called FIOS1. These new channels are not found on cable TV and FIOS1 Long Island and FIOS1 New Jersey will bring new options for hyper-local content which includes local news, regular traffic, weather reports and other programming. The new FIOS channels are all about the communities. Sports will play a major role; both FIOS1 Long Island and FIOS1 New Jersey will feature high school games of the week. The channels plan to air other sports including bowling and wrestling and basketball.

Verizon is a brand name and leader in delivering broadband and other wire line and wireless communication innovations to mass market, business, government and wholesale customers. Verizon is the only company of its size offering services over fiber optic technology straight to customer homes. Verizon’s aggressive deployment of the most powerful fiber-optic transmission technology in use today, which support it services over its fiber –to-the-home network has earned the company a Telephony Magazine Innovation Award.

Verizon is strong and profitable company, Verizon posted continued strong wireless revenue and new levels of sales success with FIOS in the second quarter. Verizon’s wire line segment reported continued strong growth in the number of new customers of fiber-optic based FIOS internet and FIOS TV services. At the end of the second quarter, the company had 3.1 million FIOS internet customers; this was an increase of 56% compared to June 2008. The end of the second quarter the company had 2.5 million FIOS TV customers, an increase of 82% compared to June 2008.

Verizon currently has new agreement with multinational customers, new contracts with several U.S. government agencies, including a major agreement with the U.S. Department of Health and Human Services valued at $245 million.

Comcast will begin to sell advertising for Verizon FIOS TV, Comcast’s advertising sales division will sale local and regional ads known as spot cable for Verizon. The five-and-a half-year deal covers ad sales in Philadelphia, Boston, Baltimore, Ft. Wayne, Ind;, Harrisburg, Pa;, Portland, Ore.; Richmond, Va.; Seattle and Washington, DC

Verizon’s continued strong cash flow reflects the exceptional service and products we provide and the exceptional focus and disciplined execution across the overall business.

Reference-

http://investor.verizon.com/news/view.aspx?NewsID=1000

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