Weaknesses
• Comcast Corporation currently employs a coaxial cable system for their services which is gradually becoming an outdated technology.
• Coaxial cables are expensive to maintain and difficult to install over long distances due to its dependence on internet transmitter hubs to boost the service.
• The fiber optics cable system is the technology of the future and Comcast’s reliance on the old coaxial cable system limits their ability to achieve blazing fast internet speed when compared to emerging competitors who are implementing the newer fiber optic system.
• Lack of middle-aged executives on the board of directors has led to a lack of fresh and youthful ideas.
• With Comcast Corporation being a large company, business ethics pertaining …show more content…
Opportunities
• Implementation of more modern streaming technologies like 4K resolution into their program packages will be warmly received by the customer base.
• There is potential to recruit younger, technology savvy and motivated professionals to management and other crucial positions.
• Opportunity to outsource customer support functions to other companies who are more competent in customer relations.
• Lowering cost of registered programs.
• Due to Comcast large capital, it has the opportunity to invest in more modern technologies and gain an advantage over competitors.
• There is the opportunity to market product packages and services to untapped international markets.
• There is an opportunity to increase annual revenue by purchasing and implementing more modern technology firms into its corporate body.
Threats
• Comcast Corporation faces the risk of losing market share due to slow adoption and implementation of modern technology.
• There is a risk of losing targeted acquisition to competing companies.
• Consistent poor customer reviews which lead to a decrease in registered subscribers and a drop in annual …show more content…
which states “The customer is always right” (Brown, 2017). This is an industry-standard slogan which states the fact that customers are the foundation of any business model and the needs of the customer should always come first. “The customer is always right because as a business you want your customers to return as well as feel welcomed and appreciated. Many businesses lose sight of this fact when they become wealthy, not realizing that they can still lose everything without the love and loyalty of their customers” (Masterson, 2016).
In order to improve the public’s perception and get back to good terms with their customers, Comcast should take the following steps:
Rebrand the company by cultivating better business practices like decreasing the cost of subscription bundles and cable packages to a fair price that reflects the value of service to the customers.
Customer service agents should be provided proper training especially in the aspect of Reflective Listening; “this is a communication skill that involves paraphrasing, reflecting, and validating the meaning as well as the emotional and psychological context of a message” (Mitchell, 2016). This will give the customer service agent the experience to handle customer related issues
• Comcast Corporation currently employs a coaxial cable system for their services which is gradually becoming an outdated technology.
• Coaxial cables are expensive to maintain and difficult to install over long distances due to its dependence on internet transmitter hubs to boost the service.
• The fiber optics cable system is the technology of the future and Comcast’s reliance on the old coaxial cable system limits their ability to achieve blazing fast internet speed when compared to emerging competitors who are implementing the newer fiber optic system.
• Lack of middle-aged executives on the board of directors has led to a lack of fresh and youthful ideas.
• With Comcast Corporation being a large company, business ethics pertaining …show more content…
Opportunities
• Implementation of more modern streaming technologies like 4K resolution into their program packages will be warmly received by the customer base.
• There is potential to recruit younger, technology savvy and motivated professionals to management and other crucial positions.
• Opportunity to outsource customer support functions to other companies who are more competent in customer relations.
• Lowering cost of registered programs.
• Due to Comcast large capital, it has the opportunity to invest in more modern technologies and gain an advantage over competitors.
• There is the opportunity to market product packages and services to untapped international markets.
• There is an opportunity to increase annual revenue by purchasing and implementing more modern technology firms into its corporate body.
Threats
• Comcast Corporation faces the risk of losing market share due to slow adoption and implementation of modern technology.
• There is a risk of losing targeted acquisition to competing companies.
• Consistent poor customer reviews which lead to a decrease in registered subscribers and a drop in annual …show more content…
which states “The customer is always right” (Brown, 2017). This is an industry-standard slogan which states the fact that customers are the foundation of any business model and the needs of the customer should always come first. “The customer is always right because as a business you want your customers to return as well as feel welcomed and appreciated. Many businesses lose sight of this fact when they become wealthy, not realizing that they can still lose everything without the love and loyalty of their customers” (Masterson, 2016).
In order to improve the public’s perception and get back to good terms with their customers, Comcast should take the following steps:
Rebrand the company by cultivating better business practices like decreasing the cost of subscription bundles and cable packages to a fair price that reflects the value of service to the customers.
Customer service agents should be provided proper training especially in the aspect of Reflective Listening; “this is a communication skill that involves paraphrasing, reflecting, and validating the meaning as well as the emotional and psychological context of a message” (Mitchell, 2016). This will give the customer service agent the experience to handle customer related issues