Verizon Wireless (VzW) had been targeting the Hispanic market for many years with great success. However, in 2010 the CEO declared the Hispanic market as one of its key strategic growth platforms. The Multicultural Strategy Team (MST) decided to assess the company’s current position in the Hispanic market in order to take the company’s Hispanic market strategy and results to the next level.
How We Resolved It
We designed and facilitated a 360 assessment of VzW’s strategy, organizational structure and its infrastructure to identify the company’s strengths and weaknesses at headquarters and across its 2,500+ store network. We assembled a senior 40 person cross-functional team and over the course of three months the team went to work on an a research and analysis, market observations, field and corporate office interviews and work session process targeting a variety of product, service, distribution, technology, merchandising, credit, sales, attrition, staffing, consumer segmentation, marketing, ad agency and a host of other areas which the team surfaced as possible areas for improvement.
Over the following three months critical areas of improvement were identified and the team worked together to arrive at solutions and recommendations which were discussed with and vetted by all regional presidents and local teams.
The work resulted in a major strategy shift in the company’s approach to optimizing their position in the Hispanic market and recommendations continue to be implemented with strong success. Insights from project results were even seen, considered and in some ways adopted by Verizon’s Phone/Cable/Internet division.