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Netflix - Essay Example

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What is Netflix’s strategy?
Netflix have a marketing strategy that allows customers to rent movies online and the faster they return the more chances of getting other movies at low rates compared to Netflix competitors. …
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Download file to see previous pages What Type Of Competitive Advantage Is Netflix Trying To Achieve?
Being the largest online movie rental in the world, Netflix is trying to increase the number of clientele to more than 6.3 million that will be able to access more than 70,000 DVD titles. They are also expanding their markets throughout United States by having a cheaper physical presence than their competition, as well as a good customer base for the same. Their other advantage was differentiation where they delivered and charged their movies differently from their main competitors (Netflix, Inc., 2012). Though the strategy could only work for short term basis, it was trying before they came up with other ideas. The strategy made them dominate the markets, and they got loyal customers who still subscribed to them even after few changes were made. Netflix also invested in a unique design referred to personalization that further differentiated their services and helped maintain most of their customers. This design helped Netflix strengthen their relationship with their customers in various ways especially by giving them smarter services than other competitors.
Question 2 How Strong Are The Competitive Forces In The Movie Rental Marketplace? Competitive forces in the movie market world are not very strong at the moment because there are only three competitors, Redbox, Netflix and Blockbuster. Majority of the people around the world prefer recording movies from their televisions, or prefer watching movies from sites where subscription is not required or watch them online giving most of the movie renters to shut down. This leaves few competitors who have been in the business long enough to know what is required to still have people using their services on a daily basis. They ensure that for every lost client, there is a new one by introducing various strategy of beating the competition and keeping up with technology. Providing best qualities of movies, as well as the latest DVDS has made the three renters stay in business. Knowing the needs of customers is key to success and the three companies have endeavored to know the requirements of their customers and endeavored to provide all their needs. Do Five-Force Analysis To Support Your Answer? By using Porters five forces analysis which includes: rivalry, from research there not much competition in the movie rental world with competitors being; any local vendors, Blockbuster, Netflix and Redbox. Secondly there is the threat of substitutes where it can only be websites that allow people to watch movies online for free. Satellite companies and cables allow people to pay the required fee and watch anything they want from the comfort of their homes (Netflix, Inc., 2012). The third force is the buyer power where it indicates that it is up to the buyer to make a choice of whether they want to rent a certain movie or not and if they have the capability to do so. If they chose not to rent any films there is nothing the renters can do about it. Supplier power is another force which indicates that the more films they have the more power they get over their competition. The last force is the barriers to entry where specific rental ...Download file to see next pagesRead More
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