Mrkt571 Week 2 Paper

Only available on StudyMode
  • Download(s) : 15
  • Published : December 2, 2012
Open Document
Text Preview
Running Head: Team E Product Offering – Verizon Wireless Mexico

Table of Contents

Team E Product Offering – Verizon Wireless Mexico
Abstract
Verizon operates predominately in the U.S. and is a global leader in communications services. Verizon is revamping its marketing approach and plans to offer Smartphone’s (iPhone and Droid) in the markets of Mexico. In this paper Team E will discuss the market needs & growth, provide a brief SWOT analysis, assess the competition, product offering & definition, product identification and justification for product choice. Market Needs

Identification of the customer is a critical element in the marketing planning process. The widespread ease of use complimented by mobile operator interest has created a Smartphone market need in Mexico for Verizon. Verizon can leverage its solid network to meet the needs of the growing consumer interest in Mexico. “Latin America's market needs cheaper Smartphone’s to enable a higher level of data penetration, said Mexican mobile telephony giant AméricaMóvil's (NYSE: AMX) CEO, Daniel Hajj” (Tomas. 2011). Marketing at Verizon seeks to fulfill benefits that are important to its customers. Market needs research provides information on the attributes that will appeal to the target end user so a marketing message can be implemented to emphasize those features. Knowing the customer’s needs and wants as it refers to Smartphone and Mexico include but are not limited to: 1.Logistics

2.Differentiation among competition (Motorola and Nextel etc.) 3.Cost (Customers need “Cheaper Smartphone’s”)
4.Market penetration
5.Product technical specifications
a.Communication applications (Email, social networking )
b.Display, Memory, Messaging, Battery life, Aesthetics
6.User Conveniences
7.Current and potential customers.
8.Customer buying tendencies
9.Why customer purchase Smartphone’s
10.Why customer purchase from the competition.
Ultimately “the job is not to find the right customers for your products, but the right products for your customer” (Kotler& Keller. 2006. p. 16). Market analysis takes a look at the product in relation to what the customer is looking for in their experience with the product. Identifying the mart need affords the opportunity to strategically cater to the customer market in ways the competition cant. Market Growth

Verizon Wireless has been expanding its devices to include but not limited to mobile broadband, iPhone, Droid phones, and an LTE (Long Term Evolution) Network. LTE is also known as 4G. According to Verizon news center, “With the introduction of the iPhone and LTE devices, Verizon said it sees Smartphone penetration rates increasing from a current 26 percent to more than 50 percent by the end of 2011.” With the launch of the iPhone, it has taken the competition to a whole new level. People now can choose which carrier they want based on the network as they all now have the iPhone. This has boost market growth in several areas within the United States. People now, no longer have to rely on one carrier for service because they have the phone they want. They can now pick what carrier based on the phone. According to JD Wells and associates, Verizon Wireless has been top in customer service several years running. This is why we look at Verizon to being the top rated carrier in the United States at this time. With great customer service comes superb market growth. People cannot wait to have a Verizon store in there area, and with the new 4G network and billions spent on their network, Verizon will hold a strong grip in the U.S. S.W.O.T.

Strengths
Verizon wireless is the leader in Smartphone amongst all the other cellular phone service providers. Some of their main strengths state side or internationally are the marketing strategies in branding and planning for marketing of future products. They provide unique products that are state of the art and yet specific to...
tracking img