Product Offering
Product Offering
MKT/571
Product Offering Verizon Communications Incorporated (Verizon) is an international leader in providing broadband and other wire line and wireless communications services to wholesale, mass market, business, and government customers (Verizon, 2011). The corporation primarily operates in the United States. To respond to the economic crisis, marketing challenges and opportunities of globalization, Verizon is transforming the way its business conducts marketing. The company is developing marketing strategies and plans to offer broadband products and services in the Canadian markets. The initial product offering will be a prepaid MiFi with 3G capabilities in Canada. In this paper the subjects to discuss are market needs, market share, market growth, SWOT (strengths, weaknesses, opportunities, threats) analysis, competition, product offering and product definition, product identification, and justification for the selecting the product. Market Needs The 3G Wi-Fi network will provide the marketing advantage over the competitors by increasing the need to supply more connection opportunities for businesses, homes, recreational facilities, and airports. The objective is to provide connections to every organization and households, including netbooks and gaming systems within Canada and surrounding regions. “Connections to more than 200 countries will increase market needs with an added bonus of a built-in SIM card within the Wi-Fi network system” according to Lawson (2010). Product’s Expected Market Share The market share with Verizon Wi-Fi 3G prepaid network expects to gain maximum sales percentage using a six-device connection with unlimited access to gain a marginal market advantage. “Market share is the percentage of total category sales accounted for by a firm” as suggested by
MKT/571
Product Offering Verizon Communications Incorporated (Verizon) is an international leader in providing broadband and other wire line and wireless communications services to wholesale, mass market, business, and government customers (Verizon, 2011). The corporation primarily operates in the United States. To respond to the economic crisis, marketing challenges and opportunities of globalization, Verizon is transforming the way its business conducts marketing. The company is developing marketing strategies and plans to offer broadband products and services in the Canadian markets. The initial product offering will be a prepaid MiFi with 3G capabilities in Canada. In this paper the subjects to discuss are market needs, market share, market growth, SWOT (strengths, weaknesses, opportunities, threats) analysis, competition, product offering and product definition, product identification, and justification for the selecting the product. Market Needs The 3G Wi-Fi network will provide the marketing advantage over the competitors by increasing the need to supply more connection opportunities for businesses, homes, recreational facilities, and airports. The objective is to provide connections to every organization and households, including netbooks and gaming systems within Canada and surrounding regions. “Connections to more than 200 countries will increase market needs with an added bonus of a built-in SIM card within the Wi-Fi network system” according to Lawson (2010). Product’s Expected Market Share The market share with Verizon Wi-Fi 3G prepaid network expects to gain maximum sales percentage using a six-device connection with unlimited access to gain a marginal market advantage. “Market share is the percentage of total category sales accounted for by a firm” as suggested by
References: Bloomberg L.P. (2011). Bloomberg businessweek. Retrieved from http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId Lawson, J. 2010. Techworld. Verizon takes mi-fi concept global with fivespot. IDG News Service. October 05, 2010. Retrieved on 03-27-2011 from www.techworld.com.au/article/363210/Verizon_takes_mifi_concept_global_fivespot Marshall, G.W Prepaid-Wireless-Guide.com. (2008 – 2011). Prepaid Wireless Broadband Providers in Canada, Canada Prepaid Broadband Plans. Retrieved from http://www.prepaid-wireless- guide.com/wireless-broadband-providers.html RedOrbit (2006) TELUS Corporation Company Profile. (2010). Retrieved from Datamonitor 360 Database. Verizon. (2011). Verizon – Investor Relations - Company Profile – Overview. Retrieved from http://investor.verizon.com/profile/overview.aspx Verizon Communications Inc Verizon Wireless. (2011). Coverage Locator. Retrieved from http://www.verizonwireless.com/b2c/CoverageLocatorController?requesttype=NEWREQ UEST&lid=//global//coverage locator Verizon Wireless