The Netflix Financial Statement Essay Example | Topics and Well Written Essays - 1000 words

The Netflix Financial Statement - Essay ExampleNetflix needs to develop some new business strategies in pronounce to survive in this rapidly changing movie industry. The firm can emerge as a reputable provider of DVDs by maintaining its brand identicalness and diverseiating itself from its competitors present in the food market. Meanwhile, the streaming service of Netflix can be considered as a complementary service to the firms DVDs rental business in the coming years. Although the movie watching market or the video market is mature the streaming market has not yet fully emerged. This means that Netflix cannot that rely on its strategies of the past but must try developing a hybrid strategy that will help in addressing the future market demands and customers expectations. An emerging market offers new companies an easy entry pass. Therefore Netflix must make sure that all of its strategies should be focused on the new and emerging market practices. The differentiation strategy is where the company concentrates all of its efforts in developing a single product and then incorporating unique and different attributes for meeting the needs and addressing the demands of its customers. When a firm adds value and uniqueness to their products for attracting customer, it is likely that the customer will be willing to pay the much higher expenditure for such products and services. Same is the case with Netflix. The firm entered the online business and targeted the online renting of DVDs. This strategy can be achieved by Netflix by using the recently developed or the upcoming marketing technologies which have not been yet incorporated by other companies in their business. Netflix introduced an integrated search engine in its newly launched website enable the customers to search and access the products of their choice. The management of Netflix must reflect ingenuity and talent while marketing their products by employing the already established and available supply twine technology and infrastructure.