Businessmodel of Symantec

Customer Segments

Symantec’s broad range of products and services target a variety of customer segments. In addition to providing consumer security software products for users of personal computers and laptops, the Company also provides more advanced, bespoke security solutions to big businesses from multiple sectors, educational institutions, government bodies and healthcare groups.

The Company’s largest market is the Americas, followed by the EMA region, and the Asia Pacific region. Among Symantec’s customers are Mary Washington Healthcare, Wayne State University, CPC Corporation Taiwan, Asia Pacific Telecom, the State of Oklahoma and Hillsborough County Public Schools.          

Value Propositions

Symantec is an established, market-leading company, and has built a reputation for providing quality, reliable products and services. The Company provides a range of products to consumers, covering a variety of needs, that are easily accessed and utilised. Subscriptions can be managed online allowing for upgrades and configuration to be made easily.

Symantec also provides ongoing technical support to its consumer and enterprise customers.

Channels

Many of Symantec’s products can be purchased and downloaded directly from the Company’s mobile and desktop websites at www.symantec.com. Once purchased these products can be accessed through the device on which it is installed or via the cloud.

Subscriptions to the Company’s more advanced or complex enterprise services are negotiated directly with members of the Symantec sales team, which can be contacted online or over the phone.

In addition to its own website, Symantec manages a network of resellers and distribution partners to extend its reach.

Customer Relationships

All of Symantec’s consumer security products, and some of its enterprise products, are available on a self-service basis from the Company’s website, as well as through various resellers. Once downloaded these products can be installed and used freely with no direct interaction with with Symantec required.

The Company’s more complex, tailored enterprise services require greater personal care, with sales representatives negotiating subscriptions to provide a tailored product.

Symantec provides ongoing technical assistance through its Support Centre, which includes support, maintenance and training resources.

The Company also interacts directly with its customers through its Facebook, Twitter, YouTube, Google and LinkedIn profiles.

Key Activities

Symantec is a cyber security company that provides a range of consumer and enterprise security solutions, covering personal computers, mobile phones, business data centres and cloud-based systems.

The Company’s consumer products – under the Norton brand – include multi-layer security and identity protection solutions for consumers to defend against online threats to individuals, families and small businesses.

Symantec’s consumer products and services help businesses to secure confidential information through secure socket layer certificates, authentication services, mail and web security solutions, data centre security solutions, and data loss prevention, and encryption services.

Symantec also provides consultancy, education and support services to its large enterprise clients.

Key Partners

Symantec divides its partners into four program categories: Secure One, Symantec Technology Enabled Program, Global Strategic Partners and Symantec Distribution Partners.

The Secure One program refers to the Company’s channel partners, primarily comprising resellers and integrators, that work with Symantec to increase its reach and in turn boost their own sales.

Under the Symantec Technology Enabled Program the Company’s technology partners are permitted to integrate and certify their own solutions with Symantec products for mutually beneficial marketing opportunities. These partners include Hewlett Packard, IBM, Hitachi and Red Hat.

Symantec’s Global Solutions Partners – including Accenture, Fujitsu, Dell, and Verizon – collaborate with the Company to develop custom support and development solutions.

Symantec has distribution partners across the world. Among them are Equanet in Argentina, Disway in Morocco and Merlion in Russia.     

Key Resources

Symantec’s key resources are its products, its IT infrastructure, its various partners and its personnel.

The Company has a number of patent applications filed with the US Patent and Trademark Office, including applications titled ‘Systems and methods for discovering website certificate information’, ‘Automated step-up digital certificate installation process’, and ‘Techniques for detecting a security vulnerability’.

Symantec also depends on the reliability of its IT infrastructure and the contributions of its partners in developing, integrating, marketing and selling its products and services.

Cost Structure

Symantec’s principal costs relate to the development of its products, the provision of support services, the maintenance of its IT infrastructure – including servers and data centres, the retention of more than 11,000 personnel and management of its partnerships.

The Company also operates a network of offices across the world, incurring fixed operational costs including rent and utilities.

Revenue Streams

Symantec has multiple streams of revenue, primarily divided into revenue generated by the sale of consumer security products and revenue generated by enterprise security services. For the 2015 fiscal year the Company recorded revenue of over $6 billion.

The former reportedly accounts for around 47% of the Company’s total annual revenue, and comprises all consumer antivirus, data management and threat protection product sales, the majority of which are marketed under the Norton brand. The prices of Norton security products range from $39 for a one year subscription to the Norton Security Standard package to $279 for three years of the Norton Security Premium package.

Symantec’s enterprise services, accounting for around 53% of the Company’s total annual revenue, comprise the sale of subscriptions to its antivirus and security, PC and server management and encryption software packages, as well as revenue generated by its various education, consulting, support and customer success services.