Published by MBA Skool Team, Last Updated: September 02, 2021
SWOT analysis of Verizon analyses the brand by its strengths, weaknesses, opportunities & threats. In Verizon SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Verizon to benchmark its business & performance as compared to the competitors. Verizon is one of the leading brands in the telecom service providers sector.
The article below lists the Verizon SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Verizon SWOT Analysis:
For Verizon, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
The strengths of Verizon looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Verizon :
1. Verizon Communications is one the world's leading telecommunication company
2. Verizon has a strong reputation of network coverage with more than 100 million subscribers
3. 5G & 4G Network capabilities offered by the company
4. It is one of the largest wireless carrier in US
5. Verizon provides services like Fixed-line and mobile telephony, broadband and fixed-line internet services, digital television and network services
6. More than 100,000 employees are present in the organization
7. Verizon with its services reaches out to more than 150 countries
8. Strong marketing exercises and sponsorship of events, sports teams etc. have boosted the brands presence globally
9. Good brand recognition & global goodwill of the company via its philanthropic subsidiary
10. Verizon's brand awareness is driven by TV commercials, print ads, online advertising, social media engagement & digital marketing
11. Strategic acquisitions of telecom, media and internet companies have strengthened its position in the market
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Verizon SWOT Analysis:
1. Increase in competition means limited market share growth from Verizon
2. Presence limited to primarily Americas and not a major player like a few other established telecom operators
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Verizon SWOT Analysis:
1. Expansion of audio & video conferencing can help the business growth for Verizon
2. VOIP, broadband, mobile internet etc. are all growing and can help the business grow
3. International expansion & regional acquisitions can help Verizon grow
4. Verizon can diversify into many other services related to customer needs utilizing the internet penetration
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Verizon are as mentioned:
1. Intense competition in the saturated US market can decline Verizon's market share
2. FCC regulations and government policies can affect operations and margins
3. Cannibalization due to VOIP and wireless offerings can lead to loss of revenue
4. International operations can be affected by recession, economic instabilities etc.
There are several brands in the market which are competing for the same set of customers. Below are the top 7 competitors of Verizon:
Rule the Air; America’s Largest and Most Reliable Network
Verizon is the one of the largest Wireless Carrier in US
Mobile phone users and businesses
Young population, Net and mobile savvy
Verizon has excellent network and IP infrastructure
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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