Telecommunication Industry Analysis

The domestic telecom application offers a great range of run through four autochthonic product segments receiving set, television, region communications, and broadband services, the two largest being voice communications and broadband services (Industry). These services atomic number 18 offered to line of contrastes and private consumers, and are the persistences primary user segments. Companies in the telecommunication industry are the primary way by which communication is provided, whether it is by telephone, Internet, 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 drives the market is inbuilt for companies in the telecommunication industry to understand.User Segments The telecommunication industry markets to two segments business and personal consumers. The business segment utilizes the services of the tele com industry for collapse communication, higher 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 alike capture for a larger budget for spending, and consequently telecommunication companies are purification their product to fit their needs on a larger scale. AT&T and Verizon Communications are the jumper lead providers in the business segment, offering services such as videoconferencing, networking, Internet, and voice communications.Personal consumers are the otherwise 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 precise competitive playing field. AT&T and Verizion, again the leading providers in the personal consumer segmen t, spend a large amount each yr on advertising trying to reach their markets (The Account). Consumers want products with the most invigorate and reliability, which forces companies to update constantly. With new products and features coming out regularly, it is imperative these companies stay ongoing with the latest technology.Product Segments The two product segments that define the telecommunication industry are voice communications and broadband services. Voice communications fee-tail phone services such as phone calls and voice messaging. Businesses and personal users rely heavily on this service, as people are requiring tested and efficient phone service in their everyday lives. Features play an integral place in defining the product, so companies must have feedback from consumers to manage how to remediate their product (Cell Phone).Broadband services offer Internet glide slope to its users. This technology is improving constantly, becoming faster and more efficient. Integrating into phones, television, and DSL, broadband services are becoming increasingly important to having a accredited product and stretchability 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 unite States. As many of the telecommunication companies have merged in recent years, they are able to offer a larger product as comfortably as bundled media packages, which brings in new revenue sources and opportunities for growth (Industry).In the telecommunication industry, the consumer is driving the market. As technology is advancing and more features are becoming available, companies must customize their products to fit the consumers needs. Many consumers require contrary features and options, which require the companies to stay current with recent trends. Customer service has to a fault played a large role in the satisfaction of customers, and the companies admit a lot of feedback to purify their products (Industry).Trends in the Telecommunication Industry As the telecommunication industry evolves, so do the trends that drive it. Demographics have blend in less important, although age and occupation does play a major role (Market). Teens are becoming a target for companies, as vigorous as business professionals (Teens). Consumer trends are driving adoption of phones in the market, as accessible networking, jobs, and personal use are becoming parts of everyday spiritedness (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 competitors in the telecommunications industry is AT&T. With over $124 million in total revenue (T), AT&T is one of the larges t 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 solution services. AT&Ts scheme involves working with its suppliers and customers to improve their efficiencies and form a domineering, long- farthesting 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 prefatorial strategy involves being proactive in improving their services to occupy customers. Verizon continually adapts to new technology and brings innovation to all it s products. Their goal is to improve the quality of life for its customers by offering innovative products (Verizon).Sprint Nextel Communications, totaling $32 billion in total revenue in 2010 (S), is a little 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. Part 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).