Netflix in 2019 is a one of the largest players in the entertainment industry. Netflix has full scale video production teams all across the world producing some truly high quality content all over the globe . Though I personally think that their content is great, I’m happy to know that the experts agree with my preference. Netflix productions have won accolades at some of the most prestigious award ceremonies — the Academys, Emmys, Golden Globes and even the Grammys. Netflix’s original content has made its mark on the entertainment world and this is not by accident.
They are using marketing to the youth via instagram, also advertise on Youtube and sometimes even in Movie Theatres for some originals.
They are quite popular but not profitable yet. It takes time for profits and they are well prepared for that.
Competitive advantage in the Marketing strategy of Netflix –
1) The simplicity of User Interface
2) Content is king
Netflix isn’t throwing together some cut-rate videos and hoping for the best. Billions of dollars are being spent on content production, bringing top-shelf writers, directors, and actors to provide with their best of work.
Major competitors for the brand include:
Sony PlayStation Vue
Piracy (One of the biggest threat for the brand which dearly affects its revenue across borders)
Customer analysis Marketing strategy of Netflix –
With the Online video platform becoming a trend among the youngsters especially college going students and the early jobbers as it is easily available on the go and can be streamed on mobiles and tablets anywhere anytime. Customers of the company mainly include the ones who are tech-savvy consumers and are in the age group of 15-40 years and those who prefer watching movies and TV shows on the internet rather than on TV which has a lot of unwanted advertisements between the broadcast.
Promotion Mix Marketing strategy of Netflix –
The major source of promotion for the brand includes social media websites including YouTube. Being a globally well-known brand gives them the edge of not going to intense advertising hence the brand prefers pop-up ads, banners, hoardings and other static ads on websites.