Telecommunication Industry Analysis

The domestic telecommunication pains snaps a handsome range of function through four special product segments radio, television, joint communications, and broadband run, the two largest being voice communications and broadband serve (Industry). These services argon offered to pipelinees and personal consumers, and atomic number 18 the industrys primary user segments. Companies in the telecommunication industry are the primary elbow room by which communication is provided, whether it is by tele mobilise, net drop dead, or television. Using transmissions of signals over networks of radio towers, data is transferred to customers using devices, such as a phone (telecommunications). determine which segment to market to and who becomes the market is integral for companies in the telecommunication industry to understand.User Segments The telecommunication industry markets to two segments bloodline and personal consumers. The business segment utilizes the services of the tele com industry for interrupt communication, higher(prenominal) efficiency, and better distribution of data (Telecommunications and Business). As businesses require communication devices for email, phone, teleconferencing, and data transferring, companies are marketing to businesses offering the most advanced and efficient products. Businesses also pull up stakes for a larger budget for spending, and consequently telecommunication companies are cultivation their product to fit their needs on a larger scale. AT& adenylic acidT and Verizon Communications are the leading providers in the business segment, offering services such as videoconferencing, networking, Internet, and voice communications.Personal consumers are the other segment the telecommunication industry markets to. With over 290 million subscribers in the united States (U.S.), companies in the telecommunication industry are on a very competitive playing field. AT&T and Verizion, again the leading providers in the per sonal consumer segment, spend a large occur each course on advertising trying to reach their markets (The Account). Consumers indispensability products with the most speed and reliability, which forces companies to update constantly. With new products and features coming out regularly, it is compulsory these companies stay current with the latest technology.Product Segments The two product segments that typeset the telecommunication industry are voice communications and broadband services. junction communications entail phone services such as phone calls and voice messaging. Businesses and personal users rely heavily on this service, as flock are requiring reliable and efficient phone service in their perfunctory lives. Features play an integral role in defining the product, so companies moldiness have feedback from consumers to know how to emend their product (Cell Phone).Broadband services offer Internet access to its users. This technology is improving constantly, becomi ng faster and more(prenominal) efficient. Integrating into phones, television, and DSL, broadband services are becoming increasingly in-chief(postnominal) to having a reliable product and reaching customers (Industry). Over the past decade, Internet subscribers have doubled, reaching over 266 million customers (World), which shows the prevalence of broadband services in the united States. As many of the telecommunication companies have unify in recent years, they are able to offer a larger product as well as bundled media packages, which brings in new tax sources and opportunities for growth (Industry).In the telecommunication industry, the consumer is driving the market. As technology is forward and more features are becoming available, companies must customize their products to fit the consumers needs. many an(prenominal) consumers require different features and options, which require the companies to stay current with recent trends. guest service has also played a large ro le in the satisfaction of customers, and the companies take a lot of feedback to improve their products (Industry).Trends in the Telecommunication Industry As the telecommunication industry evolves, so do the trends that drive it. Demographics have become less important, although age and occupation does play a major(ip) role (Market). Teens are becoming a target for companies, as well as business professionals (Teens). Consumer trends are driving adoption of phones in the market, as social networking, jobs, and personal use are becoming split of everyday life (Consumer). Technological advancements are playing a major role in the development of the telecommunication industry. Products are becoming faster, cheaper, and of higher quality, as well as including features and applications for consumers so they can communicate and work more efficiently (Top).Competitors One of the top opponents in the telecommunications industry is AT&T. With over $124 billion in total revenue (T), AT& ampT is one of the largest providers of telecommunication services in the United States. Their main products are for businesses as well as the consumer, including wireless, broadband, phone, and data outcome services. AT&Ts strategy involves working with its suppliers and customers to improve their efficiencies and form a positive, long-lasting relationship with them. They improve their company by becoming more sustainable, in hopes of promoting a positive impact on the communities it serves (AT&T Corporate).Verizon Communications is also a leading competitor in the telecommunications industry. With $106.5 billion in total revenue last year (VZ), Verizon is another leading provider of telecommunication services in the United States. Verizon offers products similar to AT&T, which enables them to compete closely with AT&T. Their basic strategy involves being proactive in improving their services to satisfy customers. Verizon continually adapts to new technology and brings innovation to all its products. Their polish is to improve the quality of life for its customers by offering innovative products (Verizon). style Nextel Communications, totaling $32 billion in total revenue in 2010 (S), is a smaller competitor but is still among the top companies in the domestic telecommunication industry. sprint offers phones for business and personal use, as well as business solutions to help the company operate its communications with more ease. discriminate of their strategy is to foster and develop relationships with organizations to form alliances and deliver integrated products and services. Sprint is also involved in becoming more responsible, in regards to its products, the environment, and its customers (About).