Verizon Communications is network leader in wireless, the most consistent and the most reliable internet service. Verizon is the largest global IP leader; delivering solutions that let their customers securely connect, collaborate, and communicate around the globe. They are known to operate the fastest 4G wireless network and provide services for the most fiber optic network. Verizon is he standard bearer fort he industry and a leader in delivering the benefits of empowering technology to the world.
Verizon has market themselves to enter into other markets like: Hughes Telematics, a leading provider of remote energy management solutions in order to provide tools that enable customers to take control of their energy use, the healthcare market called Verizon Universal Identity, this will give clinicians and patients a better tool for managing chronic diseases such as congestive heart failure and diabetes. The Verizon Foundation ahs matched donations made by their employees and eligible retiree, providing a substantial amount of funds.
The center of attention is to implement energy and health care solutions that create new profits for Verizon while growing energy and improving heath care quality for their customers and communities. I have used Verizon’s as a project in one of the previous classes, and I found this company to be the most long term growth wireless network than their competitions. They have the most opportunities for women, and to look at them as an opportunity for a career means that they can compete with the best of them with 38 % percent of Verizon’s employees are people of color, and 40% of Verizon’s management team is people of color.
The employees volunteer over 450,000 hours to support nonprofit organizations in 2012. Being a loyal customer before Verizon became Verizon, they have one of the best customer service departments around. When someone calls for assistants from one of their representatives they make sure that if they can’t solve your issues, they will find someone who will.
Verizon has empowered their customers to personalize their own communications needs to include, cloud services, energy management, smart communities, connected homes, telemedicine, work-at-home applications and mobile commerce. According to their facts, they are the largest U.S. wireless company, the most reliable 3G broadband network and the largest 4G network in the U.S. since starting in January 2012. The new technology that Verizon is interest in building is mobility, broadband and global connectivity. Verizon has the most advanced tools that they are looking for the next adventure.
Economic analysis for the following:
Elasticity of demand and the market structure for the company’s good or service . Mobile Broadband for wireless internet, email and internet connections on 4G and 3G networks. . Leading portfolio of devices and smartphones on all major operating systems. . Global data services at hundreds of international destinations. . Verizon continued to enhance its device lineup with new smartphones and tables. . Vodafone the largest mobile telecommunications and hold 45% of Verizon Wireless. Video, voice, and data travel over three wavelengths in the infrared spectrum.
What are the company’s strategies to increase revenue? . Verizon Wireless launched eight LTE smartphones and three new tablets. . Verizon Wireless will begin to offer shared data plan for business in 2013. . Verizon Wireless acquired Hughes Telemetric, to offer more to the market. . Verizon Wireless expands to the next generation in U.S. and Europe. . Verizon offers voice and data service to more than 200 destinations. . Verizon service 96 % of Fortune 1000 customers. . Verizon has the largest fleets in U.S. with 39,000 motor vehicles.
Define the economic theory and show how you can determine the profit maximizing quantity? How could you use the concepts of marginal cost and marginal revenue to maximize profit? What information do you need to determine this? Without this information, how would you make a decision? . The new Share Everything plan, will save customers money to current plans. . Verizon offers new “stickier” service bundles to keep family members connected. .Subscribers will need to figure out what gigabytes of data usage means. .Verizon Wireless sells gigabyte plans for more of a wireless access. Verizon to continue to offer the latest smartphones and to customize client’s data service. . Research all wireless services to determine how to maximize profit.
What are the company’s strategies for pricing and non-pricing strategies? . With introduction to its new 4G high speed network, Verizon expects that data usage among its user base will increase dramatically, and so it makes more sense strategically to charge users for the amount of data they consume rather than the former industry standard, one –size fit all approach. . To compete with the other competitors that has already made the move. . Verizon Wireless has targeted the Hispanic market for strategic growth platforms.
What are the barriers to entry for your chosen product? Can you create or increase barriers to entry? If so, why? . To hold most of the licenses the FCC will issue for low band wireless spectrum. . Verizon Wireless competes for new spectrum for Wi-Fi for resale to wireless data carriers. . FCC, to monitor competition and innovation in the wireless space that will drive the prices lower. Are there other ways to minimize costs for the company or products? . To bring back the “every two” credit.