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Verizon Communications, a leading American company in the sphere of telecommunication and mobile connection, has extended its influence on many countries all over the world. Although, it may seem that the policy of the company should remain stable despite of location in order to satisfy the needs of foreign customers, Verizon implements unique 4P’s marketing mix concepts. It can be proved by the analysis and comparison of 4P’s marketing mix concept of the Verizon U.S., Canada, Puerto Rico, and Dubai.
Verizon Communications is considered to be one of the American leading companies in the sphere of telecommunication and mobile connection. Fortune 500 has put it on the 16th place in the rating, according to the number of annual profits and revenues. The headquarters of Verizon Communications are based in the New York City. Although, it is an American company, Verizon Communications has offices all over the world and cooperates with thousands of clients globally. The company orients on the demands of the customers and tends to bring innovations and changes in its work and structure in order to meet the demands of the modern society and provide only high quality of services.
Verizon Communications was formed in 2000. Soon after the inception, the company has become one of the biggest local companies, controlling the spheres of mobile and telephone communications. On average, it controlled the 63 millions of telephone lines and provided their service to almost 25 million of clients. Simultaneously, the company began to introduce the Internet services and long-distance operations. In a short period, it managed to spread its activities and control over 40 states and became the national company, providing the communication services (Medoff & Kaye, 2011, p. 70). The question – “What helps this company to gain popularity in different countries?”, remains rather topical nowadays. Production, prices, and promotion are depended on a place in a great way. That is why it becomes clear that Verizon Communications operates effectively all around the world due to unique 4P’s marketing mix concept.
Verizon Communications in the U. S.
4P’s marketing mix concept of the company Verizon Communications, situated in the U.S. can be regarded precisely on the example of New York Verizon Communications.
Place: 29th floor, 140 West Street New York, NY, 10007, United States
Benefits: As Verizon Communications is located almost in the centre of business zone of the city, it gives it opportunity to attract many customers as well as compete with rival companies (Verizon Communications Inc, 2014).
Products: Verizon Communications in New York provides customers and business and governmental agencies with communications, entertainment, and information products and services. It operates from two different perspectives: Wireline and Wireless. Wireline’s communications products include Internet access, voice, broadband data and video, network access, protocol network services, and other services. Verizon Wireless’ communication products are concentrated on providing consumers with wireless voice, equipment sales, and data services (Verizon Communications Inc, 2014).
Benefits: The great variety and quality of products makes it difficult for other companies to compete with Verizon Communications. The proof of it can be found in the acquisition of Vodafone and Edge Cast by Verizon Communications in 2014.
Price: Price policy of Verizon Communications is an effective one. On the one hand, the prices are affordable for consumers. On the other hand, they are not too low. It means that they help the company to get profit.
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Benefits: Verizon Communications got revenues for the full year 2013 of $120.6B. In comparison with 2012 year, the increase was 4.1% (Verizon Communications Inc, 2014).
Promotion: Verizon Communications has a well – developed system of promotions. On the one hand, it is based on charity. Verizon Communications, every year, provides the New York community with grants in the fields of technology, literacy, and violence prevention programs. In addition, it is concentrated on the philanthropic aim. For example, in 2005, it donated approximately $7, million to 624 nonprofit groups. On the other hand, promotions of Verizon Communication are based on the interaction with consumers. For example, every customer can win promo code or coupon, which gives him or her opportunity to save up to 20% for different services as well as receive some gifts such as $300 prepaid Visa card (Ning, 2014).
Benefits: Close interaction with community creates all conditions for attracting new customers as well as creating a stable system of regular clients and patrons.
Verizon Communications in Canada
In general, 4P’s marketing mix concept of Verizon Communications in Canada is very similar to the one in the U.S. Nevertheless, it has its striking differences.
Place: 60 Adelaide St E Toronto, Ontario M5C 3E4 (Brown, 2013).
Benefits: As Ontario is located on the border with the U.S., it gives Verizon Canada opportunity to stay in touch with the main office.
Products: In general, the products proposed by Verizon Canada are the same as in the U.S. Nevertheless, it is necessary to take into consideration the fact that Verizon Canada does not only concentrate its attention on its original ideas but also try to modify in own way the products of companies – rivals such as Bell, Rogers, and Tellus, in order to adjust to local market .
Benefits: Verizon Canada gains the opportunity to occupy the leading position among other countries on the Canadian market as it attracts customers by innovations from the one perspective, and by the traditional Canadian products from the other one.
Price: As Verizon Canada works in the atmosphere of constant confrontation with other Canadian companies, the prices of it are very compatible. It means that Verizon Canada provides the consumers with lower prices than other companies working in this sphere.
Benefits: The prediction, based on the current prices of Verizon Canada, is formulated in such a way, “The fact is, the only way Verizon can take a chunk out of the Big Three’s 95% market share is by offering lower prices with comparable or better service…But they have every reason to finally bring some healthy competition to Canada, spurring lower prices and higher speeds” (Brown, 2013).