1. Netflix started out as a DVD rental company, but has since added online video
ID: 345179 • Letter: 1
Question
1. Netflix started out as a DVD rental company, but has since added online video streaming to their service offerings. Also, in recent years they began developing their own content, which reduces their reliance on other production companies to provide the shows customers watch. What other innovative offerings do you recommend Netflix investigate for the future (think outside the box on this)?
2. Over its history, Netflix has done a great job of utilizing the elements of the marketing mix to enhance its success. Describe Netflix’s marketing mix-what product, pricing, distribution, and promotion strategies have contributed to its popularity with customers?
3. The chapter identifies five dimensions of service quality. Considering these with respect to Netflix, how does the firm stack up on each of these dimensions to set itself apart from competitors and other providers of entertainment content?
Explanation / Answer
1. The Netflix can work on building a studio where they can shoot their own content. They already have a platform to sell the content they create so this will make them independent and they do not have to rely on other studio houses where they need to go and shoot their shows. They can convert this into a business and allow other movie producers to shoot their movies as well.
2. Marketing Mix
Product: They have an excellent product in the form of a website that provides quality content to the users. It is a great product because they have something for every kind of audience.
Price: The first month is a trial period and it is free and they also have a couple of different pricing options. The user can pay for one screen and also multiple screens. The pricing is flexible and the user can choose it based on his needs.
Place: The company is based out of the United States and it has a huge customer base in the country. The company is a leading internet television service provider in the world.
Promotions: The company chooses the social media platforms to promote their content and they have been very successful in attracting the customers. The registration on the website is on the rise and it will keep going up if the company continues to market their product like this.
3.
The company is very reliable when it comes to quality of the content and also the technical aspects of the product. The customers are getting value for money.
The company is very quick to respond to the customers and they have a customer-oriented approach to the business. They consider the customers as guests and solve their problems quickly.
The company assures the customers of quality customers and they keep the communication going to make them feel confident. Various campaigns are created just to keep convey to the customers that the company cares for the customers.
The company provides empathy by providing very customized attention to the customers and make them feel special. The users will be sent with relevant information to keep them updated.
The company used tangible methods to communicate with the customers and they use emails that are well crafted and well written to make the customer happy and satisfied with the quality and content.
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