Paypal & Symantec

Part
01
of two
Part
01

PayPal

BACKGROUND


After running AT&T’s consumer business by age 39 and launching Priceline and Virgin Mobile USA, Dan Schulman came to PayPal from being President of Enterprise Growth at American Express. Schulman's tenure oversaw PayPal’s spin-off from its parent company eBay.

-revenue grew at 20% on an FX neutral basis
-$3.14 billion of quarterly revenue
-6.5 million net new active users
-210 million people on the platform; 17 million merchants and almost 200 million consumers.


What is their overall market strategy?


Schulman puts strong emphasis on peer-to-peer payments through PayPal's subsidiary Venmo and PayPal.me. Schulman characterizes peer-to-peer payments as a $100 trillion market where 85% of the transactions are still conducted in cash. Venmo’s transaction value more than doubled in Q2 2017 to $8 billion.

Even before he took over as CEO, Schulman saw the emergence of commerce over mobile devices. “The difference between online and offline commerce is basically blurring and disappearing,” Schulman said shortly after taking over as PayPal CEO.

PayPal seeks to increase market share in brick-and-mortar stores through point-of-sale product PayPal Here and integrating the ability to pay at brick-and-mortar stores using a mobile device, competing with products such as Square and Stripe.

Schulman has indicated that PayPal will focus on scale over revenue through strategic partnerships with Visa, MasterCard and even companies once considered rivals in the payments space like Google and Apple.

What have been their wins and losses as a company?


In its core website payments business, PayPal enjoys a staggering 91% market share. PayPal is enjoying an expansion in both revenues and new business, and its Venmo peer-to-peer subsidiary doubled its year-over-year payment volume in 2017.

In February 2018, PayPal settled an FTC complaint that it failed to disclose privacy terms and funds availability adequately to Venmo account holders.

In 2015, PayPal agreed to pay a $25 million fine in a CFPB complaint that alleged its “Bill Me Later” service signed up customers for credit lines without their knowledge. PayPal made no claim of innocence or guilt as part of the settlement.

What perception do they have, and how do they promote themselves?

From its inception, PayPal had a strong desire to be seen as more than the payment button on a website.

CEO Schulman is quoted as saying, “One of the things that I learned at American Express is that there's a saying that it's expensive to be poor and that was especially true in financial services, that around the world, there are 2 billion people who are outside the traditional financial-services industry, in the US maybe 70 million or so are underserved. There's a real powerful way that technology can democratize financial services. It can make the managing and moving of money a right for all citizens and not just a privilege for the affluent.”

From the standpoint of consumer perception, PayPal maintains an "A" rating with the Better Business Bureau. BBB has received 7,327 total closed customer complaints, or 0.00003% of PayPal's estimated 210 million customers (7327/210,000,000). The complaints are categorized by the BBB as follows:

Advertising / Sales Issues 516
Billing / Collection Issues 1731
Delivery Issues 143
Guarantee / Warranty Issues 206
Problems with Product / Service 4731

What sort of company image do they promote and how do they project it?


PayPal’s mission statement is to “Build the web’s most convenient, secure, cost-effective payment solution.”

As part of its efforts to position itself as more than a payment solution for websites, PayPal recently launched a new ad campaign through CP+B Agency with the tagline "PayPal Can Do That", with comic vignettes that demonstrate additional benefits of using PayPal for purchases.
Part
02
of two
Part
02

Symantec Corporation

Symantec is a world leader in cyber security. It's competition includes IBM, Microsoft Corporation, Trend Micro Inc., etc. Building on the popularity of its Norton suite of products, it has made strategic acquisitions such as LifeLock, and focused on cloud-based subscriptions and services to become a comprehensive digital safety platform, and won awards and recognition in the field of cyber-security. However, issues such as post-merger high operating costs led to Symantec declaring losses in 2016 and 2017. It promotes its products and services through Partner Engage conferences, mobile tours, sponsorship deals and social media.

ABOUT SYMANTEC

Symantec and is a publicly traded technology company, founded in 1982 by Gary Hendrix. It is listed at the 379th position amongst Fortune 500 companies and is a world leader in cyber-security providing cyber-security solutions to organizations as well as serving a global community of over 50 million individuals and families with its Norton suite of products for home and mobile devices.

how SYmantec perceives and promotes itself:

Symantec sees itself as a "world leader in cyber-security", "one of the world’s largest civilian cyber intelligence networks" and a "security platform for the cloud generation", delivering "game-changing innovation" to "keep the world's information safe." It prides itself on a diverse and inclusive workforce that "embraces every culture, language, age, sexual orientation, disability, background and experience."

It promotes its innovations, key focus areas and collaborative approach with partners through Partner Engage conferences. For positive brand exposure, Symantec takes part in technology events, mobile tours and sponsorship deals. It also uses social media platforms like blogs and its own website to engage with customers directly.

Symantec CEO Greg Clark sees no foreseeable decline in cyber-crime and cyber threats and emphasizes the need to "bulk up with the latest tech defenses."
“We think this industry needs a 900 pound gorilla”, he says, “and we would like that to be Symantec.”

Overall COMPETITIVE strategy

Some of Symantec's main competitors are AVG Technologies, Kaspersky Lab, Intel Corporation, IBM Corporation, SecureWorks Corporation, Comodo Group Inc., EMC Corporation, Microsoft Corporation and Trend Micro Inc.

To remain competitive, Symantec offers a whole range of solutions related to storage, security and system management, as well as education, consulting and cloud services to customers that range from government agencies, large global organizations, small businesses and individual consumers.

It has a widespread distribution channel and a trained workforce of more than eleven thousand employees across its offices and its offshore development centers in India. Its Antivirus products are easily available in both IT shops and online portals. It has adopted a "competitive pricing policy to gain maximum advantage in the market over its competitors." It provides global, multi-platform software support, as well as excellent training and information resources on its website. Symantec also encourages enrollment in its Symantec Partner Program whereby partners "gain access to numerous materials and tools."

As part of its cloud-centric services, Symantec offers the Symantec Subscription Platform, through which the company "offers cloud subscriptions in per user, per virtual machine, per license and per seat options, thanks to its integration with SaaS subscription vendor Zuora. " According to CIO, Sheila Jordan, "We want it to be like an Amazon experience where with a handful of clicks you can book your cloud security subscription." The Symantec Cloud Security Platform "provides a complete means for the chief information security officer (CISO) of the modern enterprise to securely enable cloud adoption, while unifying both cloud and traditional on-premise environments for seamless security."

In 2017, Symantec acquired LifeLock, a leading provider of identity theft protection, thereby transforming its consumer business into a comprehensive consumer digital safety platform.

wins and losses

Symantec was positioned in the Leaders quadrant of the 2018 Gartner "Magic Quadrant for Endpoint Protection Platforms for the 16th consecutive year for Symantec Endpoint Protection(SEP), which is part of Symantec’s Integrated Cyber Defense Platform. In 2017, it won the Box Technology Partner of the Year award in the category of Trust and Security. Symantec Endpoint Protection and Norton Security won AV-TEST Institute’s “Best Protection Award 2016” becoming the first company to win the award "in both Business and Consumer categories two years in a row." Keith Weatherford, VP, AMS Channel Sales of Symantec, was one among the 50 Most Influential Channel Chiefs of 2018 by CRN for forging Symantec's channel-first strategy.

In 2016, Symantec posted a loss due to high operating expenses post its acquisition of Blue Coat Systems Inc. In the fiscal year 2017, it posted a loss (on net income) of $106 million.

CONCLUSION

Symantec's strong suite of cyber-security products and services and its well planned market strategy and effective marketing techniques make it a world leader and a force to reckon with in the cyber-security space.
Sources
Sources

From Part 02