Essay on Verizon Competitive Advantage Of Verizon
Verizon Competitive Advantage
Verizon is a company who has been in business for quite a long time. It is not only a larger company, but is known for its competitive advantage, as well as its industry attractiveness. Verizon has good overall performance compared to many of its rivals. Verizon is in the communications industry, offering wireless phone service, business products, internet, television, and home phone services. This industry is extremely competitive, as there are many big names out there who dominate the market. There are many relevant issues in the industry, which can be analyzed using Porters Five Forces framework. The first of the five forces is that of supplier power. The number of suppliers within an industry determines how much a company can charge for a service. For example, if the business is the only provider of a product, they can most likely charge more for a service in demand. In Verizon’s case, the industry is very competitive, so the supplier power is limited. While Verizon does offer many competitive products and specials, the industry is competitive, which could be a potential issue for the company.
Buyer power is the next of Porters five forces. This involves the process in which buyers drive the prices down. Using Verizon as an example, buyers can drive the prices down to some extent. Verizon is a large company, and therefore has a significant amount of buyers. If they lose one, it will not make or break the…