Four Approaches to Competitive Advantage
Verizon Communications Inc. was incorporated in June 2000 in Delaware, United States. The telecommunications networks company was formed by a merger between Bell Atlantic Corporation and GTE Corporation, and began trading on the NYSE using the VZ symbol in July 2000 (History and Timeline, 2019). Verizon Communications is the largest telecommunications company in the United States, with competitors such as Sprint and AT&T. So far, the company has based its operations, the provision of wired and wireless telecommunications networks, in the United States. There has been no attempt to enter any defended territories of competitors, with the leadership of the company focusing on achieving full coverage of the United States market.
To effectively achieve its mission and achieve a competitive advantage over its competitors, Verizon Communications uses product differentiation and the provision of quality services as strategies. Through the provision of high-quality internet and telephone services, Verizon has become the favorite services provider for the American public, achieving industry and market leadership in the region (Kim, Kim, & Kang, 2016). Its wireless and fiber-optic products are preferred by customers across the country. By being a pioneer in the introduction of new technologies and internet standards, the company has revolutionized the telecommunications industry.
When
bidding on contracts, Verizon Communications goes up against its competitors,
including those from the global market, such as Huawei and Samsung. However,
the company has many exclusive contracts with the government and organizations
across the country. This gives the company a competitive edge over competitors
in the United States. Verizon Communications is a collaboration of older firms
since it was formed through one of the most popular mergers: Bell Atlantic
Corp. and GTE Corp. in 2000 (History and Timeline, 2019).
References
History and Timeline. (2019, August 13). Retrieved November 18, 2019, from https://www.verizon.com/about/our-company/history-and-timeline.
Kim, C., Kim, S., & Kang, H. (2016). Driving sustainable competitive advantage in the mobile industry: Evidence from US wireless carriers. Sustainability, 8(7), 659.
