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+
Wireless Telecommunications Providers
Meghan Brown, Kathryn Buchan, Nicole Grover, Elizabeth Reamer
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+Table of Contents
Industry Structure Industry Background Barriers to Entry
Advertising Strategies Primary Advertising Strategies Top 3 Company Profiles
Data Analysis Advertising Intensity Analyzing Advertising Patterns Prisoner’s Dilemma Case Study
Analysis and Recommendations
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+Industry Evolution
Motorola “brick” phone sold for $3,995 in 1983
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+
By the end of 2012 the number of mobile connected devices will exceed the number of people on earth
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
0
50
100
150
200
250
300
350
400
Number of Wireless Subscribers in US
Year
Wir
ele
ss S
ubscri
bers
(M
illions)
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+Industry Products
Total Industry Revenue (2011): $195.8Billion
Equipment, 10.0%
Data, 30.0%
Voice, 60.0%
Industry Revenue
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+Industry Competition
~1600 companies
Highly Concentrated HHI = 2714 CR4 = 94.7%
36.5%
32.1%
15.4%
10.7%5.3%
Market Share
Verizon WirelessAT&T Inc.Sprint Nextel Corp.Deutsche Telecom AG (T-Mobile)Other
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+Table of Contents
Industry Structure Industry Background Barriers to Entry
Advertising Strategies Primary Advertising Strategies Top 3 Company Profiles
Data Analysis Advertising Intensity Analyzing Advertising Patterns Prisoner’s Dilemma Case Study
Analysis and Recommendations
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+Barriers to Entry
High and Increasing High cost of Spectrum Licenses High cost of network infrastructure Market nearing saturation
96% of US population currently subscribes to cell phone services
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+How do these issues affect current players?
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+
Firms have attempted to lower the cost of spectrum licenses and infrastructure through consolidation In 2011, AT&T made an
attempt to acquire T-Mobile
FCC ruled NO. Consolidation in the industry has reached its limit
http://hothardware.com/newsimages/Item16626/Wireless_Carriers.jpg
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+
Firms are seeking new ways to limit costs employment outsourcing
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
0
50
100
150
200
250
Employment
Year
Industr
y E
mplo
yees (
T-
housands)
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+Customer churn
Churn rate- # of customers an industry player loses over a given period of time
Most user surveys rate quality issues as primary reason for changing carriers
Most firms have an average monthly churn rate of 1.5%-3.5%
This indicates high level of competition in industry
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+Open Access Requirements
Any Phone, Any Service Decrease Provider
Differentiation Decrease Subscriber Loyalty Increase Subscriber Churn
http://rmc.library.cornell.edu/ezra/images/ezra2_w.gif
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+
Increasing
Consumer churn?
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+Table of Contents
Industry Structure Industry Background Barriers to Entry
Advertising Strategies Primary Advertising Strategies Top 3 Company Profiles
Data Analysis Advertising Intensity Analyzing Advertising Patterns Prisoner’s Dilemma Case Study
Analysis and Recommendations
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+Combative Advertising
Shift consumer preferences, but not expand category demand, in a mature market
Product differentiation creates inelastic demand
Could just be undercutting profits
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+Combative Advertising
Comparative advertising – a form of combative advertising
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+Combative Advertising
Prisoner’s Dilemma is a possible outcome
Optimal strategy = no one advertises
Dominant strategy = advertise
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+Informative Advertising
Differentiate providers on the basis of: The variety of phones
that are compatible with the service
The speed and range of the networks
Data storage capabilities
Payment plans
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+Informative Advertising
Reducing consumer search cost may have pro-competitive consequences
In wireless telephone service provider industry: Very concentrated Mature market
Informative advertising instead leads to advertising war
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+Informative Advertising
Expanding primary demand?
Signaling high quality rather than increasing competition Only efficient, high quality
firms can afford expensive ad campaigns
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+Table of Contents
Industry Structure Industry Background Barriers to Entry
Advertising Strategies Primary Advertising Strategies Top 3 Company Profiles
Data Analysis Advertising Intensity Analyzing Advertising Patterns Prisoner’s Dilemma Case Study
Analysis and Recommendations
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+
#1 wireless phone operator in terms of sales and subscribers
informative advertising showcase the capabilities of network and devices “It’s not just about putting a device and a price in the
advertising.”
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+
“Rethink Possible”
“It’s What You Do With What We Do” ads “showcase how mobility helps power human
ingenuity in creative and entertaining ways”
Lumia 900 released April 8 “At all levels, this is a notch above anything we've
ever done”
first Spanish language commercial aired on April 9th
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+
Brand Names: Sprint PCS, Clear, Boost, Virgin Mobile
“All. Together. Now.”
offers unlimited data usage for smartphone users
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+Table of Contents
Industry Structure Industry Background Barriers to Entry
Advertising Strategies Primary Advertising Strategies Top 3 Company Profiles
Data Analysis Advertising Intensity Analyzing Advertising Patterns Prisoner’s Dilemma Case Study
Analysis and Recommendations
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+High Advertising Spending
1. Procter & Gamble
2. AT&T
3. General Motors
4. Verizon Communications
5. Comcast
High market concentration high advertising elasticity
Advertising as barrier to entry
Prisoner’s Dilemma?
Top 5 Advertisers in 2011
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+Ad-to-Sales Ratio
Depends on the type of product, advertising elasticity of demand, and the price elasticity of demand:
Industry ad-to-sales ratio is moderately high differentiated products, a low price sensitivity of consumers, and/or a high advertising sensitivity
Mergent Online, 2011
Company Name Total Revenue (Million $) -
2011
Advertising (Million $) –
2011
Ad to Sales Ratio (%) - 2011
Verizon Communications
110,875 2,523 2.3
AT&T Inc. 126,723 2,359 1.9
Sprint Nextel Corp.
33,679 1,400 4.2
Industry Average 39,111 1,135 2.9
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+Ad-to-Sales Ratio
Industry Name
Ad/Sales Ratio % 2011
Wireless Providers
2.9
Grocery Stores 0.8
Beverages 5.1
Commercial Banks
0.4
Hotels 1
Motocyclces 1.6
Fairly high ad/sales ratio for wireless telephone service providers compared to other industries
http://www.seattletimescompany.com/advertise/adtosales.htm
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+Number of TV Ads Aired
Sprint Nextel’s ad/sales ratio is the largest, yet comparatively small number of ads
Incredibly concentrated industry
2011 Data from Prof. Liaukonyte
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+Table of Contents
Industry Structure Industry Background Barriers to Entry
Advertising Strategies Primary Advertising Strategies Top 3 Company Profiles
Data Analysis Advertising Intensity Analyzing Advertising Patterns Prisoner’s Dilemma Case Study
Analysis and Recommendations
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+Analyzing Advertising Patterns – Day Part AT&T
1. Prime
2. Late Fringe
3. Afternoon Daytime 2
Sprint
1. Prime
2. Overnight
3. Late Fringe
Verizon
1. Prime
2. Overnight
3. Late Fringe
The day part in which you choose to advertise corresponds with how many people see your advertisement which is related to how much you will pay for that time slot.
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+Why does Day Part Matter?
Three Reasons
1. Competitive Industry
2. Similar Services
3. Similar Target Market
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+Analyzing Advertising Patterns – TV Programs
AT&T
1. Slice of Life
2. Feature Film
3. Situation Comedy
Docum
enta
ry
Dram
a/Adv
entu
re
Feat
ure
Film
Game
Show
Loca
l Spo
rts S
how
Inst
ruct
ion/
Advice
News Doc
umen
tary
Loca
l New
s
Networ
k New
s
Susp
ense
/Mys
tery
Situ
atio
n Com
edy
Slice-
of-L
ife
Soap
Ope
ra
Spor
ts M
agaz
ine
Spor
tsca
stTa
lk
Varie
ty-G
ener
al0
5000
10000
15000
20000
25000
AT&T: Number of Ads Aired by Program Type
Program Type
Num
ber
of
Ads
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+Analyzing Advertising Patterns – TV Programs
Sprint
1. Slice of Life
2. Feature Film
3. Sportscast
Docum
enta
ry
Dram
a/Adv
entu
re
Feat
ure
Film
Game
Show
Loca
l Spo
rts S
how
Inst
ruct
ion/
Advice
News Doc
umen
tary
Loca
l New
s
Networ
k New
s
Susp
ense
/Mys
tery
Situ
atio
n Com
edy
Slice-
of-L
ife
Soap
Ope
ra
Spor
ts M
agaz
ine
Spor
tsca
stTa
lk
Varie
ty-G
ener
al0
1000
2000
3000
4000
5000
6000
7000
Sprint Nextel: Number of Ads Aired by Program Type
Program Type
Num
ber
of
Ads
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+Analyzing Advertising Patterns – TV Programs
Verizon:
1. Slice of Life
2. Feature Film
3. Sportscast
Docum
enta
ry
Dram
a/Adv
entu
re
Feat
ure
Film
Game
Show
Loca
l Spo
rts S
how
Inst
ruct
ion/
Advice
News Doc
umen
tary
Loca
l New
s
Networ
k New
s
Susp
ense
/Mys
tery
Situ
atio
n Com
edy
Slice-
of-L
ife
Soap
Ope
ra
Spor
ts M
agaz
ine
Spor
tsca
stTa
lk
Varie
ty -
Gener
al0
2000
4000
6000
8000
10000
12000
14000
Verizon: Number of Ads Aired by Program Type
Program Type
Num
ber
of
Ads
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+Why does Program Type Matter?
Consider the conditions that allow for combative advertising.
We see that the only way to differentiate from competition is to advertise.
Prisoner’s Dilemma ensues.
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+Table of Contents
Industry Structure Industry Background Barriers to Entry
Advertising Strategies Primary Advertising Strategies Top 3 Company Profiles
Data Analysis Advertising Intensity Analyzing Advertising Patterns Prisoner’s Dilemma Case Study
Analysis and Recommendations
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+Prisoner’s Dilemma Case Study:
Sprint is attempting to engage AT&T and Verizon in prisoner’s dilemma advertising.
Why? Beneficial if you can get others to play.
Truly Unlimited campaign.
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+Advertising Patterns 2011
Janu
ary
Febu
ary
March
April
MayJu
ne July
Augus
t
Sept
embe
r
Octbo
ber
Novem
ber
Decem
ber
0
2000
4000
6000
8000
10000
12000
14000
Number of Television Ads By Month - 2011
AT&TSprintVerizon
Month
Num
ber
of
Ads
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+Will it Work?
Maybe, but combative advertising making false claims is heavily monitored by the NAD.
Is Sprint’s Truly Unlimited Ad enough to get you to switch wireless providers?
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+NAD as a Deterrent to Prisoner’s Dilemma
Since 2008 there have been 9 cases brought before the NAD that involve AT&T, Sprint and Verizon.
3 of which were Verizon challenging Sprint over its claim as “America’s most dependable 3G Network.”
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+Table of Contents
Industry Structure Industry Background Barriers to Entry
Advertising Strategies Primary Advertising Strategies Top 3 Company Profiles
Data Analysis Advertising Intensity Analyzing Advertising Patterns Prisoner’s Dilemma Case Study
Analysis and Recommendations
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+Analyst Recommendations – Verizon (VZ)
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+Current Analyst Recommendations (VZ)
Verizon (VZ) holds the #1 market share (36.5% of wireless market).
Current stock price as of April 16, 2012 is $37.30.
Overweight = Buy Investors believe
Verizon will outperform other stocks.
Feasible since they hold #1 market share over AT&T by about 4%.
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+Analyst Recommendation:Investment Opportunities
Mobile advertising cellphone is the ‘third screen’
‘Spectrum chasers’ Clearwire LightSquared
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+Firm Recommendations
1. Shift spending from advertising to customer retention.
a. Customer loyalty programs
b. Customer service
2. Invest in wireless infrastructure.
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+Any Question?Thank you!