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Strategic Marketing Research Paper | Homework Help Service

Strategic marketing enables corporations to connect with a different target audience and solve issues affecting their consumer experiences. Many organizations focus on exposing individuals to an enabling environment where they can discover their potential and overcome challenges threatening their performance in the corporate world. Exploring different marketing and communication channels enables organizations to understand the changing needs of individuals, where they can develop viable products and services that meet their expectations (Bilgihan, Kandampully and Zhang 2016). I have been using the Netflix streaming service for a while now to catch up with my favorite movies and series. Through candid marketing, Netflix sends email notifications and YouTube adverts that inform me about any new additions to its comprehensive list. Netflix has proved its worth as an online movie streaming service because of its ability to focus on enhancing the overall experience of individuals towards various aspects taking place in the world today.

Nature and Characteristics of the Service

Intangibility

Unlike existing products, services focus on enhancing the overall experience of individuals to define the relationship between the organization and its target audience. On many occasions, services can be online or offline, depending on the company structure and its ability to solve problems affecting people’s lifestyles (Sadlowska, Karlsson, & Brown 2019). Netflix is an intangible online product that connects individuals to their favorite movies and documentaries. Given its interactions with the consumer market, the corporation has put in measures to create a balance where people can overcome challenges affecting people in their immediate environment.

Inseparability

Compared to tangible products that can be produced, serviced, and used at different locations, services are inseparable. This aspect compels users to use specified gadgets to enjoy the streaming service (Aguiar & Waldfogel 2018). Individuals without access to the internet cannot access any movie selection on Netflix because of its operational approach that demonstrates the strategies that can be used at any given time.

Perishability

Unlike other services, Netflix is not affected by the concept of perishability because individuals can watch their preferred movie selection at any given time. Despite keeping up with new movie streams, the service promotes independence of thought, where people are at liberty to keep up with their selected movies or documentaries (Moeller 2010).

Variability

Unlike many products that follow an automated process of production, service delivery is often affected by variability. In this case, some of the movie streams might be interesting, while others might not (Steinhoff, Arli, Weaven, and Kozlenkova 2019). From this realization, Netflix focuses on a precise approach similar to quality control to ensure that the platform maintains a threshold that defines its production.

Challenges Faced by Netflix

Maintaining new subscriber growth has become a critical problem affecting Netflix’s performance in the business environment. Likewise, increasing competition from other streaming platforms such as Amazon Prime and Apple TV has disrupted Netflix’s dominance in the corporate world.

Services Marketing Mix

Consumer Needs

When Netflix users sign-in on the platform, they have certain expectations that must be met by the corporation. For instance, the streaming service should not buffer when watching movies, and the quality should be standard to guarantee a positive experience (Baugher, Ramos, & Eisner 2016). When this is not met, it becomes difficult for individuals to maintain their focus on the platform, an aspect that affects the changing needs of consumers.

Benefits

Since Netflix is not the only movie streaming service available in the market, it should convince individuals why they should watch movies on the platform and not from its competitors. In this regard, the streaming service believes in its comprehensive collection of films and documentaries that meets the changing needs of individuals.

Behavior

When people can access their favorite products and services from a certain point, they become loyal to the organization and ignore other service providers in the market (Yang and Fang 2004). In this regard, Netflix thrives on consumer loyalty, which enables the corporation to facilitate the production of different movies that appeal to the expectations of individuals in the business environment.

Additional P’s of the Services Marketing Mix

People

Netflix values the needs of its employees over processes to develop a sense of creativity that enables the production corporation to overcome challenges taking place in the surrounding environment. Despite the measures put in place by the corporation to enhance employee perspectives, the corporation continues to thrive in the market, exposing consumers to a situation where they can achieve their desired objectives (Tefertiller 2017).

Processes

Likewise, the production company has put in place a various infrastructure to support its vision in the business environment. The online platform rarely buffers, an indication of the focus dedicated to meet individual needs. Many organizations experience challenges because of their inability to create measures that promote the realization of various objectives in the corporate world. However, building a reliable service that connects consumers to the product is one of the approaches that can be used to overcome challenges associated with the operations.

Physical Evidence

Despite the availability of specific episodes in selected locations, the platform offers individuals value for their money, which makes it convenient for the different consumer groups. The platform’s uniformity in providing that is felt through the service determines its impact on the changing needs of individuals. Unlike other corporations, Netflix does not address the physical evidence because of the nature of its platform that limits individuals to films.

Market Differentiation

In the age of information technology, many successful ventures such as Netflix have leveraged the rising significance of the digital world and developed innovative products that address people’s problems and expectations. In this regard, differentiation requires corporations to build products and services that have a unique selling point, which enhances their competitive advantage in the market (Eun-A Park 2017). Based on Netflix’s performance in the business environment, the company began producing its films, besides promoting video content from third parties. While the corporation might not dictate the approach taken by these corporations, the consumer segment will now benefit from the asymmetrical positioning of ideas that are broadcasted in its films.

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Valid pricing in the market allows consumers to understand the vision of an organization and align their interests with the changing needs of individuals. In this regard, many people might not be aware of the measures that appeal to the evolving consumer identity that allows them to shift loyalty when one of their expectations is not met (Allen 2017). By understanding the perspectives of consumers, Netflix’s ability to create a platform that appeals to different age groups has yielded positive outcomes that complement its vision in the business environment. Currently, Netflix dominates the market because of the penetration strategies it has used to focus on the changing needs of individuals.

Compared to Amazon Prime Video that comes in second after Netflix in market penetration, other corporations such as Apple TV and Disney, among others, have emerged to offer consumers a wide range of services that meet their expectations. At any given time, the corporation demonstrates its understanding of the evolving consumer identity that shifts on demand (Baugher, Noh, & Ramos 2016). Although many people are aware of the approaches that should be taken to solve issues affecting individuals in their immediate environment, people should focus on Netflix’s ability to create a viable service that defines the overall consumer identity in the corporate world.

Relationship Marketing, Service Quality, and Loyalty

Many organizations aspire to build relationships with consumers by exposing them to a wide range of quality products and services that complement their vision and overall expectations. In this case, new customers at Netflix are introduced to the streaming platform with a free month package before they can select on their preferred streaming product. Single users enjoy the least amount of $6.99, while two users are charged $8.99 (Patchunka 2019). Four users, which represent the highest consumer segment at the streaming platform, attract charges of $11.99, which is payable every month. Based on this approach, the company enjoys market dominance, which defines the purpose of the streaming service in the business environment.

Service quality is defined by aspects such as assurance, reliability, and responsiveness, which determine the nature of the relationship between a corporation and its target audience. In this case, Netflix has demonstrated these aspects of service quality in its streaming service that connects individuals to a wide range of films that appeal to their expectations (Snyman & Gilliard 2019). Initially, the streaming platform was broadcasting content developed by third-parties before it embarked on pursuing its production goals. This aspect has resulted in the availability of quality products that meet the changing needs of individuals.

Relationship marketing focuses on exploring issues that enhance the interactions between a consumer and an organization. Although the approaches used by many corporations to improve the quality of service ruin their abilities to overcome specific problems, Netflix has benefitted from the consumer loyalty it enjoys in the U.S. and beyond (Liberal-Ormaechea & Cabezuelo 2019). Building a platform that allows individuals to benefit from quality films requires a lot of research to focus on issues affecting the modern generation. Besides, maintaining a sense of uniqueness and reliability has a significant impact on the overall performance of the corporation in the market.

Conclusion

Netflix has proved its worth as an online movie streaming service because of its ability to focus on enhancing the overall experience of individuals towards various aspects taking place in the world today. When addressing multiple issues affecting individuals in their immediate environment, organizations are encouraged to focus on service delivery that enhances the overall outcomes that can be achieved in the market. Depending on the measures affecting individuals in their surroundings, people are supposed to make informed decisions that focus on enhancing the overall experience of consumers. Netflix, as a streaming service, has demonstrated the approaches corporations can use to focus on solving problems affecting individuals.

 

 

List of References

Aguiar, L. & Waldfogel, J. 2018, “Netflix: global hegemon or facilitator of frictionless digital trade?”, Journal of Cultural Economics, vol. 42, no. 3, pp. 419-445.

Allen, I.E. 2017, Extreme Teams: Why Pixar, Netflix, AirBNB, and Other Cutting-Edge Companies Succeed Where Most Fail, American Society for Quality, Milwaukee.

Baugher, D., Noh, S. & Ramos, C. 2016, “THE RELATIONSHIP OF ONLINE NETFLIX USER REVIEWS TO DAYS TO SALE FOR NEW DVDS ON AMAZON”, Academy of Marketing Studies Journal, vol. 20, pp. 149-161.

Baugher, D., Ramos, C. & Eisner, A. 2016, “THE CONSISTENCY AND VALIDITY OF ONLINE USER RATINGS OF MOVIE AND DVD QUALITY”, Journal of Business and Behavioral Sciences, vol. 28, no. 2, pp. 94-103.

Bilgihan, A., Kandampully, J. and Zhang, T.C., 2016. Towards a unified customer experience in online shopping environments. International Journal of Quality and Service Sciences.

Eun-A Park 2017, “Why the networks can’t beat Netflix: speculations on the US OTT Services Market”, Digital Policy, Regulation and Governance, vol. 19, no. 1, pp. 21-39.

Liberal-Ormaechea, S. & Cabezuelo-Lorenzo, F. 2018, “Film streaming platforms spectrum in Spain: commercial strategies and technological characteristics”, Universia Business Review, , no. 60, pp. 136-167.

Moeller, S., 2010. Characteristics of services–a new approach uncovers their value. Journal of services Marketing.

Patchunka, C. 2019, “NETFLIX KILLED THE CABLE TV STAR: Cable TV is Definitionally Disadvantaged for Use of Artificial Intelligence”, Federal Communications Law Journal, vol. 71, no. 2, pp. 275-298.

Sadlowska, K.M., Karlsson, P.S. & Brown, S.C. 2019, “INDEPENDENT CINEMA IN THE DIGITAL AGE: IS DIGITAL TRANSFORMATION THE ONLY WAY TO SURVIVAL?”, Economic and Business Review for Central and South – Eastern Europe, vol. 21, no. 3, pp. 411-438,496.

Snyman, J.H. & Gilliard, D.J. 2019, “The Streaming Television Industry: Mature or Still Growing?”, Journal of Marketing Development and Competitiveness, vol. 13, no. 4, pp. 94-105.

Steinhoff, L., Arli, D., Weaven, S. and Kozlenkova, I.V., 2019. Online relationship marketing. Journal of the Academy of Marketing Science47(3), pp.369-393.

Tefertiller, A. 2017, “Moviegoing in the Netflix Age: Gratifications, Planned Behavior, and Theatrical Attendance”, Communication & Society, vol. 30, no. 4, pp. 27-44.

Yang, Z. and Fang, X., 2004. Online service quality dimensions and their relationships with satisfaction. International journal of service industry management.

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Strategic Marketing Research Paper | Homework Help Service . (2022, July 05). Essay Writing . Retrieved September 29, 2022, from https://www.essay-writing.com/samples/strategic-marketing/
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