Business Mission: To provide the best quality of wireless and customer services in today’s market of wireless communications.
Marketing Objective: To decrease the monthly customer churn rate to less than 1%, therefore ensuring Verizon Wireless will continue to lead the competition in customer loyalty.
Cellular communications is such a large aspect of today’s industries, and with the number of consumers already with cell phones drastically increasing all the time, it is good to think about the future, and maybe making the customers you already have, happy and content. There are only so many “new” customers you can gain in today’s market. Phone companies have a serious untapped market for raising profitability month by month. What is this untapped market in the cell phone industry? The loyal customer that continues to give you money every month for your services! Why not focus on keeping the customers you have already and making them happy? A happy loyal customer will continue to bring you business through the years. Think of this situation. An 18 year old student comes to Verizon Wireless to get his very own cell phone. Six years down the road, he meets the girl he is going to marry, and they would like to get a plan together for cell phone minutes. Verizon, for the past two years has been taking very good care of this gentleman, so he talks his wife into getting a Verizon Wireless phone. She does, and that’s one new activation for Verizon and more money monthly from that gentleman. Fast forward a few years, when that gentleman is married and has children. It is now time for his children to get a cell phone. Where will he turn? Verizon Wireless, of course, because for all these years, they have been taking care of him, for being a loyal customer. It just makes sense to take care of the customers you have in the long run. Yes, new customers are always good, but please...