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Netflix versus Blockbuster - Essay Example

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Summary
Through the fixed monthly rates, charges for late fees are no longer a major bother for the rental company. Netflix was able to expand its market and draw in a huge number of customers with its online options and consumer-friendly features. …
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Netflix versus Blockbuster
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Netflix versus Blockbuster

Download file to see previous pages... Netflix, as a result was able to get ahead of other rental companies. The central consideration in the above case is based on how Netflix will be able to maintain its current position as the premiere rental company in the US.
Significant factor list:
1. Decrease of DVD sales were seen alongside the increase in online DVD rentals, computer downloads, and video sharing. High-definition (HD) television programs also increased in popularity and usage.
2. Prices for wide-screen TVs and HD TVs and DVDs also decreased with most of these TVs being able to maintain picture quality at low prices.
3. All TV stations were required by law (starting in 2009) to broadcast digitally, leading to an increase in HD programming.
4. Old and new TV series have been packaged into DVD formats, further cutting into DVD movie sales.
5. VOD formats were offered by cable companies like COMCAST. COMCAST customers were found to purchase less of movies because of the preferred format available to them.
6. More movie titles became available in most cable companies.
7. DVRs have reduced the necessity of movie rentals and purchases.
8. Online rentals have reduced movie and DVD sales.
...
Moreover, it has caused the rental and video sales industry to be more competitive with each other and with the cable companies. For those who were unable to compete, they lost significant sales and customers. Recommended Course of Actions: Recommendation 1 Netflix needs to maintain its position as the top rental company by coming up with more innovative techniques in drawing in customers. It cannot allow too much time to pass before new strategies can be conceptualized. Recommendation 2: Netflix needs to continually update its digital and its consumer-friendly options through online applications and options, and convenience-based options for consumers. Recommendation 3: Netflix needs to stay active in fighting and guarding “piracy” practices and illegal downloading. Recommendation 4: Netflix has to come up with new products or marketing strategies in order to maintain its edge on Blockbuster. Recommendation 5: Movie companies need to increase their product base: movie titles, TV series rentals, and video game rentals. Justification for recommendation 1: Netflix needs to maintain its competitive edge against other rental companies. It can maintain this edge by continually coming up with ways in which to market its products and making its options more consumer-friendly. This would help prevent consumers from leaving the company and would help draw in new customers. Justification for recommendation 2: Netflix still needs to come up with better ways to use digital and online technology to the advantage of consumers. Online technology can be used in order to make the rental process easier for the customers; the social networks can also be tapped in order to assist in the process of advertising and marketing the products available. ...Download file to see next pagesRead More
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