The Netflix Success Story Essay
The Netflix Success Story, 482 words essay example
Essay Topic: story, success
marketing and advertising approach (Ackson, 2015, p. 1). Continuous acquisition of new content through subsequent establishment of relationships with leading entertainment providers, provision of ease to technology for use by customers are some of the contributory factors towards the Netflix Success (Reilly, N.d, p. 5). The adoption of international strategies which entails a marketing mechanism through which a business entity can sell its goods or services beyond its local markets through the establishment of its subsidiaries, socio demographic factors not withstanding has also increased the profitability of Netflix (Gallaugher, 2008, p. 1). In an effort to enjoy vast economies of scale, Netflix chose to out compete its key rivals through differentiation and diversification by offering a wide array of product selection, value-added services and attractive styling. According to Bourreau, Gesollen, & Perani, (2002, p. 2) constant utilization of emerging technological advancements has enabled Netflix to have wide economies of scale.
Following the various factors that tend to contribute towards the success of Netflix, this research study seeks to examine how a case study on Netflix can influence the success of businesses. Additionally, this research study seeks to establish the factors that allow one firm such as Netflix to be successful while others such as Blockbuster to decrease in value (Clerigo de Almeida, 2011, p. 6). Objectively, this study aims to analyze and evaluate how Netflix takes advantage of the technological advancements to become the largest online streaming video service provider and utilizes its external environment to improve its success. Appropriate use of research techniques such as research design and methodology will help in the realization of the objectives of this research study.
The aim of the study will be to evaluate how Netflix took advantage of the external environment from a business strategy point of view.
The objectives of the study will be
To analyze how Netflix took advantage of the technological advances to become the leading online streaming service.
To evaluate how Netflix took into account the external environment in their business strategy.
Statistical Records and Facts about Netflix Success
Historically, Netflix was only a DVD-by mail service. As such, its customers were generally required to pay given level of membership which essentially determined the total number of DVD's that could be rented online. As a leading service provider for online movies as well as TV shows, Netflix has continued to attract millions of subscribers universally following its ability to stream out High Definition excellent videos (Ronca, 2013, p. 1-2). Evidently, the architectural design and culture of Netflix has a substantial impact on the network infrastructure.
Despite the exhibition of steady growth of Netflix globally thereby gaining a competitive advantage over its rivals such as Blockbuster, planning a large scale, fast growing video platform with high degree of accessibility and scalability has since proven to be technically challenging. Statistical records reveal that the existence of different operational segments, in this case, domestic streaming, International Streaming and Domestic DVD have positively contributed