Verizon Company Case

Verizon’s marketing goal is to “Satisfy the needs of their customers from the young adults, seniors, families and small to large business, promoting their brand, leveraging their distribution network and cross-marketing with Verizon’s other business units.” Below are the Verizon’s 4P (placing, promoting, pricing, and product) marketing strategies.

• Verizon first strategy on placing the distribution of their service is by using direct, indirect, and alternative distribution channels. The direct distribution of Verizon is operated through company-operated stores. The indirect distribution channel involves on agents that sell postpaid and/or prepaid wireless products and services at their retail locations throughout the U.S.

• Verizon second strategy on promoting their brand is by giving a high-quality customer service. With the high quality consumer services, consumers will be satisfied by using Verizon services which is very critical to the financial performance of Verizon. For example, Verizon provides 24/7 availability for customer emergency and technical issues. This is how Verizon helps satisfy their customer needs so that customer will promote their brand and not cancel their subscription.

• Thirdly, Verizon’s product pricing strategy is that they give no additional fees or a requirement for contract extension for changing wireless paying plan: an early termination fee that decreases after each full month that a customer remains on their contract.

• Lastly, Verizon product marketing strategy is by giving a handset upgrade every two years with the requirement that the consumer signs a new two year contract for a calling plan with at least a $35 monthly access charge. In addition, Verizon also offers a free back-up protection for the customer’s phone contact list.

These are the 4P of the Verizon Company. In summary,the first “P” (Placing) states that Verizon uses indirect and direct source to contact with the customers. The second “P” (Promoting) Verizon promotes their brand by giving a 24-hours/ 7-days customer service in order for the customer to promote their brands to other people. The third “P” (Pricing) describes that Verizon does not give additional charge for the customer to change their subscription. The last “P” (Product) attracts the customer subscription by giving them a free handset and backup protection.

SUBJECT: VERIZON’S FINANCIAL SUMMARY

Verizon’s equity trades use a VZ letter because it represents speed. On July 3, 2000, Verizon went into public in New York Stock Exchange, and on March 10, 2010 in NASDAQ. Below are some summaries about the financial data of Verizon.

• The consolidated revenues of Verizon in 2012 were $115.8 billion dollars. Compared to 2011, the consolidated revenues were $110.9 billion. Thus, we can say that there