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In: Operations Management

What kind of product is Netflix, and how might that influence ant changes to the marketing...

What kind of product is Netflix, and how might that influence ant changes to the marketing mix that you propose?

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Netflix: It is a type of global video streaming service, media and film production company with a million subscribers. Netflix started with stream content and made it available on TV. It offers movies, TV series, children's programs. Members of Netflix can watch as much as they want, anytime, anywhere, on any internet-connected screen. The marketing plan will focus on online streaming services.  

Netflix's target a mass market of consumer paid streaming subscription of TV shows and movies aiming to have the biggest market share with the largest number of subscribers it can get regardless of age, background, beliefs, preferences, etc.

Marketing Mix: It is an important concept of marketing management the main aim is to every business organization is to earn, and maximize its profits. they concentrate on 4 factors i.e. product, place, promotion and price known as the marketing mix.4P's serves for selection consumers with their reaction only for product presenation or observation.

How might it influence and change to the marketing mix that I propose :

  • It increases the brand awareness and goodwill.
  • Its reach is faster than TV as it is operating through the internet.
  • With the help of customer data, they send advertisement, new features of the products they sent by email, newsletter, etc,
  • They respond to the customer query very quickly.
  • It is the fast technology module as it is updated regularly
  • In pricing, they adopt a very smart strategy First they attract customers by giving free trials and convert prospective customers as actual ones. i.e. they are using psychological pricing.
  • As people are more connected at internet Netflix locates all its business on the internet.
  • As a promotional tool, they use all social websites like Facebook, Twitter, and Instagram, etc.
  • They created a different advertisement to correspond with different seasons which eventually help to increase the sale of the product.

keosha answered 5 months ago
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