Verizon Branding Strategy
Verizon Communications, the largest wireless service provider in the U.S., was formed as a result of one of the largest mergers in history. Telephone companies, Bell Atlantic Corporation and GTE Corporation joined forces in 2000 with the aim of becoming one of the largest telecommunication companies in the world.
Verizon became the largest local telephone company in the U.S., offering long distance calling and internet services in New York, and eventually to other states. As a result of the merger, Verizon automatically gained customers that previously belonged to Bell Atlantic and GTE.
“New Every Two” Program
To gain entry and a foothold in the industry, Verizon employed an emergent strategy with the “New Every Two” program, which gave customers a free phone with every two-year service subscription.
It also acquired permission to allow customers port from one network carrier to another while retaining their phone numbers. This was effective in buying customers, as it gained about 1.5 million new subscribers within the next 4 months.
Verizon’s mission “is to enable people and businesses to communicate with each other. We are also committed to providing full and open communication with our customers, employees and investors.” As a proud leader of innovative communications technology, Verizon remains at the forefront of development, and is regularly expanding its market share.
Leading from the forefront, a major landmark in the company’s history was in 2002 when it upgraded to the 3G service. This doubled internet speed and made browsing more enjoyable. Verizon followed it up in 2005 by launching the Verizon FiOS internet service, which transmits data over fibre optic cables, and the FiOS TV, which gave U.S. customers access to over 20 high definition channels.
The Largest Telecoms Company In The U.S
To overcome competition and become the largest telecoms company in the U.S., Verizon worked on its service to deliver reliable wireless coverage and excellent customer service. By stimulating its employees to be imaginative and provide cutting edge solutions, it focused on pleasing customers, which will in turn resulted in more customers and increased revenue.
Despite initially providing solely wireless services, Verizon has come to realize the limitations of its brand. Verizon recently began to diversify its operations to include fibre optics, broadband, cloud services, digital media services, and cyber security. Today, Verizon is one of the most reliable communications network providers.
Founded as a result of a merger, Verizon has continued in the path of acquiring other small and large companies to expand its customer reach and grow revenue. In 2013, Verizon acquired Vodafone’s 45% share in Verizon Wireless to become the sole owner of the business. It was the third largest corporate deal ever.
The company is working tirelessly to deliver digital economy to their customers. Although Verizon discontinued the “New Every Two” program, they offer low cost services for subscribers that enjoy their data packages.
In another acquisition deal that shook the world, Verizon bought AOL Inc. for $4.4 billion, signalling entry into multimedia. Its disruptive strategy points to a radical evolution of its business to take the lead in the revolution of media and the entertainment industry.
Verizon has also shown its dedication to get closer to the younger demographic by launching the G090 program. It is a combination of television programming, live events, and video that are available to all subscribers including those operating on other carriers.
While there is fierce competition on many fronts, Verizon is taking over the world of telecommunications with its connections and control in various countries.
