Marketing Strategy & Practice of cable and internet industry
Comcast is a telecommunications company based in the United States. Currently Comcast is the country’s’ leading cable television network provider as well as being the country’s second largest provider of broadband internet services. In analyzing this paper, I will look at the current trends in the telecommunications industry within the United States.
In addition to this, I will also look at some of the current developments and or drawbacks giving special reference to Comcast as a single firm.
INTERNET SERVICE PROVIDER:
Internet service providers are business organizations whose core business is providing business firms, organizations as well as private individuals with internet related services. In addition to this internet service, providers also provide a range of other services including domain registration, web hosting, collocation as well as internet transit.
Cable television is a technology that involves providing television services to wishing consumers using radio signals transmitted through coaxial cables or in recent times through optical fibers. In addition to this, these cables are sometimes used for providing broadband internet services, radio programming as well as a range of other services
A marketing strategy is a business process that allows organizations or businesses to optimize sales as well as acquire competitive advantage over its competitors by finding the greatest opportunities of channeling the organizations limited resources.
Comcast Corporation has tried to find its market share within the United States telecommunications industry. In doing this, the company has tried to apply bleeding edge technologies in order to be ahead of its competitors like time Warner and Verizon. In doing this the company has company has initiated a mix of the best marketing strategy as well as market research.
By the year 2006 the telecommunications industry on a global perspective was estimated to be worth more than $3 billion dollars. Within the United States alone, the sector is one of the largest employers with more than one million employees as of the year 2006.
Within the United States, there are estimates that subscribers will grow to about 4 billion by the year2011. In addition to this, current trends within the sector involve mergers and multiple acquisitions that have made the industry one of the most competitive. In addition, cross-border ownership of business enterprises has become the norm.
Among these mergers and acquisitions is the take over of MCI by giant Verizon Corporation. In addition, the industry is one of the fastest growing within the market. The industry is also the most interrelated with all the other sectors of the economy.
Regardless of its remarkable growth, the industry is faced with a discreet problem from the wireless internet service providers. The growth of wireless internet and telephony has been one of the major troubles for the broadband technologies.
On a firm-based perspective, there is stiff competition within the industry. To improve on market share every company uses its own strategy. However, in any industry there are four core elements of marketing strategy. These four elements are strategies that involve the product, pricing, promotion, and distribution. All firms within the industry seem to employ a different mix of the four elements in order to achieve its growth or industry projections.
In this field, companies like Comcast have adopted technologies like video on demand in order to improve their competitive edge. In addition to this, companies like Verizon have increased their capital base and they are becoming some of the core competitors to Comcast.
The telecommunications industry has come to be a major source of revenue for many economies. The industry is behind much growth that is being experienced within the East Asian newly industrialized countries like Singapore and Malaysia. The role of the industry in the development of many countries cannot be overlooked.
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