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Netflix - Research Paper Example

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Netflix Table of Contents Netflix 1 Table of Contents 2 Introduction 3 Brief Overview 3 Marketing Mix 4 Product 5 Price 5 Place 5 Promotions 6 People 6 Process 7 Physical Evidence 7 Conclusion 7 References 9 Introduction Netflix Inc, was founded in the year 1997 headquarter at Scotts Valley of California, with over 23 million subscribers in U.S and at Canada is the leading online rental movie service of the world (Netflix-b, “Company Profile”)…
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Download file to see previous pages... The service also includes delivery of DVD’s directly at the customers place with no extra charges from the company. Netflix service has a user rating facility which helps viewer to rate the available movies and suggest recommendation according to the genre and preferences. For this report the target market is the class room group who are within the age group of 22 to 35 years. It can have a great potential for Netflix with the movie services which are in huge demand amongst the young generation. With the high-tech innovation in the modern communication industry the use of internet are growing at a very fast pace especially amongst the young age group who are more acquainted with the online services. Thus Netflix service can act as a very demanding service for the classroom group. Brief Overview Target market specifically includes the section of the overall market that would serve as the targeted customer base of the company. Under a targeting strategy a firm tries to select the best possible customer segment as a part of its primary customer base. The marketing mix is then formulated that seeks to provide tailor made services to the customers to meet their demands (Armstrong, p.31). In the present case the class is assumed to be the target market segment. The age group of the target market is between 22-35 years of age and includes both male as well as female customers. The choice of the target audience assumes significance considering the nature of services offered by Netflix. Netflix offers a wide range of services that includes unlimited access to movies and TV programs that can be watched by the customers on a TV, tablet PC or a laptop. Considering the net savvy and large scale exposure of the target market respondents towards these devices the chosen target market can offer a wide range of services to satisfy the demands of the chosen target customer base of the organization. Netflix owning to its brand image and efficient customer service along with a unique and innovative product offering in form of contents shown can present a formidable challenge to its competitors in the market. The competitive advantage of Netflix also comes from the fact that the device sold by the company is compatible with almost 20 different devices. These devices are among the most popular gadgets that are used by the selected target market. The company recently announced that the device would also be compatible with popular gaming consoles that include X Box 360 and Sony Plantation. Customers can watch unlimited movies from a large collection of diverse genres by paying only 7.99US dollars in a month. In addition to this the efficient level of customer service also serves to make it the best choice for the chosen target consumer segment (Netflix, “Company Profile”). Marketing Mix The elements of marketing mix for a service oriented organization like Netflix includes the elements of product, price, place, promotions, people, process and physical evidence. Product The product portfolio for Netflix with regards to the target market audience would include a complete subscription package that would include the devices as well as access to a large number of movies that would be backed by a collection ...Download file to see next pagesRead More
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