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Netflix Phase 2

NETFLIC MARKETING REPORT

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0% found this document useful (0 votes)
20 views

Netflix Phase 2

NETFLIC MARKETING REPORT

Uploaded by

akshatg939
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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With its online streaming platform, Netflix offers a straightforward product

approach together with paid access to a large library of TV shows and


movies. Viewing TV shows, documentaries, limited series, and movies users
of desktop or mobile devices can Customers can use up to four devices at
once from a single monthly subscription; three membership options—Basic,
Standard, and Premium—are offered. One main advantage of Netflix is that
content viewing does not cause any commercial interruptions or advertising.
Moreover, it offers a free trial period so that potential members may check
almost limitless content before deciding on a subscription. There are no
cancellation fees any time a client decides to opt out; this allows flexibility
and simplicity of rejoining the service whenever they so want and also
maintaining current for its software ensures perfect streaming on the
platform, which creates original content including "Orange Is the New Black"
and "Narcos." Among the several genres Netflix offers are Action, Anime,
Documentaries, Dramas, and more. Apart from streaming, they provide DVD
rentals and keeps modifying its online content to fit a different audience.

With three membership programs—Basic, Standard, and Premium—whose


monthly rates run from $7 to $12, their pricing strategy is psychographic.
Users of the one-month free trial can explore the platform and decide
whether to continue on without any commitment or cancellation fees. This
approach guarantees economy and flexibility using local currencies used for
payments. Apart from North Korea, Russia, Syria, and Kosovo, Netflix is
available in almost 190 countries and accessible on Smart TVs, PCs,
cellphones, and tablets, it just requires a good internet connection. The
platform offers uniform content access all around, so eliminating geographic
segmentation. Among Netflix's marketing mix, promotion is quite important.
Many have drawn in the free one-month trial free of commitment or
cancellation fees. For their Original content especially, the company
highlights its brand using online advertising, outdoor billboards, social media
channels including Twitter and Facebook, and posters. Using artificial
intelligence and machine learning, Netflix recommends content based on
personal preferences for present members, so enhancing the user
experience. It’s mostly funding original content creation in order to
differentiate itself from competitors. By releasing diverse and high-quality
original series and films appealing to a wide audience, the platform aims to
give a consistent flow of fresh and interesting content. Eliminating
geographical content restrictions and entering new markets enables Netflix
to try to make its offering available anywhere. Furthermore, stressing
localization, the platform offers dubbing and subtitles in many languages to
enhance the viewing experience for visitors from all around the world. They
keeps altering its lineup to provide perfect streaming quality. The platform
invests in advanced technologies including machine learning and artificial
intelligence in order to customize content recommendations and increase
user satisfaction. With its flexible pricing strategy—which includes a one-
month free trial and several subscription choices—Netflix ensures availability
and affordability for a broad spectrum of consumers. This approach offers
flexibility and value for money; thus it helps to attract and retain members.
Using social media, online ads, and outdoor advertising among other
marketing channels, appeals to a big audience. Its consistent brand voice
and creative campaigns help to preserve in part strong brand awareness and
attracting new members of the platform.

With sophisticated recommendation algorithms driven by artificial


intelligence and machine learning, which provide personalized content
suggestions that improve viewer engagement and retention, Netflix's use of
advanced technologies enhances its user experience even more. Featuring
three subscription tiers and a one-month free trial free of commitment fees,
the platform's flexible pricing approach appeals to a wide spectrum of
consumers, so guaranteeing affordability and convenience. This strategy
lowers entrance restrictions and encourages consumer loyalty. Furthermore
clearly visible are Netflix's great brand recognition and cultural influence
since its original material is becoming worldwide phenomenon influencing
popular culture. Its marketing campaigns, which underline its varied content
library and binge-watching culture and so stress the platform's ability to
provide something for everyone, anywhere, so supporting this great brand
presence. These elements highlight the leadership in the streaming market
and help to explain why it is always expanding and dominant.

Netflix has successfully grabbed the television and movie markets by being
adaptable and providing original material to its viewers. Even with more than
5,000 employees right now, it maintains a consistent and intriguing voice on
all social media platforms—including Facebook, Twitter, Instagram, and
Reddit. Their clever announcements and posters amply illustrate the always
clever and funny attitude of the brand. This consistency in brand voice and
image will help one to develop awareness and show a clear picture of who
the brand is. Keeping a consistent color palette, voice, and tonality in
addition to a regular schedule helps to strengthen brand impression.Still
another crucial factor in Netflix's success is flexibility. The company's
eagerness to expand from a DVD rental company to a streaming behemoth
reveals how important it is to adopt new design principles and welcome
technological innovations. Change should be constant and adaptable even if
it shouldn't be drastic. For instance, the cooperation between Netflix and
Gretel gave its design a fresh edge, so underlining the need of flexible
change. The Stack method also changed the user experience by optimizing
website space and giving users a whole view at a glance. Thriving in a fast-
changing market requires this flexibility since Blockbuster's demise
demonstrates what happens—that which ignores the internet streaming
revolution fails. Push Notifications: Netflix employs emotion-based marketing, using
personalized pushnotifications to keep users engaged and informed about new
content.Guerrilla Marketing: Innovative campaigns, like the Squid Game promotion,
significantly boostbrand awareness and subscriber growth.Social Media and Meme
Marketing: Active engagement on platforms like Facebook, Instagram, and Twitter helps
maintain brand visibility and relevance, especially among younger audiences.

Original content is mostly responsible for Netflix's success. Originally most


known for its well selected TV shows and movies has shifted its emphasis to
produce original series and films beginning in 2018. With more than 700
original TV shows and 80 films, Netflix has found the perfect mix of curation
and production, which has greatly expanded viewers and critical appreciation
including 112 Emmy nominations. By providing consumers with a
personalized experience and more incentives to keep engaged, creating
original and real content helps brands to shine. Through many deliberate
actions, it has shaped consumer behavior. Its highly customized
recommendation engine tailors content suggestions based on users' viewing
history, ratings, and reviews, so increasing the likelihood that users will find
appealing material and remain engaged. From anywhere and view whenever
they so want, users of any internet-connected gadget—including
smartphones, tablets, laptops, TVs, and gaming consoles—can quickly
access Netflix. It offers a wide range of options that appeal to many tastes by
including original, licensed, and foreign language content among more than
17,000 titles, so drawing users back. Starting at $9.99 every month, its
rather reasonable subscription rates make it a competitive alternative for
cable or satellite TV. They also use social media to interact with its viewers
and promote its content, so enhancing the sense of community and inspiring
users to share their ideas. The company also uses psychological techniques
including anchoring—setting first low-price points that influence consumers'
value impressions—loss aversion, discount offers to consumers when their
subscriptions are about to expire. Finally, running discounts and limited-time
offers helps to create urgency by scarcity, so motivating consumers to
register or renew their subscriptions. Netflix's brand positioning strategy
positions the company as a worldwide provider of entertainment with a
rather broad target audience since its availability in more than 190 countries
and accessibility on many devices. Usually earning less than $50,000 a year,
millennials and younger consumers constitute the main target market. This
group finds it reasonable subscription model appealing since it offers a
reasonably priced replacement for separately downloading or purchasing
content. Among its users, almost 70% of Gen Z consumers and almost 65%
of millennials clearly show Netflix's focus on a younger audience. Gender-
wise, it boasts a rather higher 52% female audience than 48% male one.
Netflix also produces shows appealing to everyone, including non-binary
viewers, so ensuring a varied and inclusive content bank. For Netflix, target
markets mostly consist of younger consumers, millennials and Gen Z.
However, the percentage of older consumers—including Gen X—has been
declining; as of 2020, roughly 54% of Gen X members have subscriptions.
Although it aims to attract viewers from many backgrounds in education, the
usual target customer is not highly educated; about 70% have never
attended college. This demographic approach helps Netflix to satisfy a wide
range of customers, so guaranteeing accessibility and general appeal. It
shapes consumer behavior by means of several deliberate actions.
Customizing content recommendations based on users' viewing history,
ratings, and reviews helps its highly personalized recommendation engine to
increase the possibility of users finding interesting material and staying
involved. Users of any internet-connected gadget—including tablets, laptops,
TVs, gaming consoles, and cellphones—can easily access from anywhere and
view whenever they like. With almost 17,000 titles ranging from original,
licensed, and foreign language content, Netflix offers a wide range of options
that appeal to a spectrum of tastes, so attracting returning users. Starting at
$9.99 monthly, its rather reasonable subscription rates make it a competitive
alternative for cable or satellite TV. Moreover, Netflix interacts with its
viewers and promotes its content on social media, so fostering a community
and inspiring consumers to share their opinions and comments. The
company also uses psychological techniques including anchoring—
determining initial low pricing points that influence consumers' view of value
—loss aversion, discount offers to consumers when their subscriptions are
about to expire. Finally, running discounts and limited-time offers to inspire
consumers to register or renew their subscriptions helps Netflix create
urgency by scarcity.

Reflecting its brand as a leading global entertainment supplier, Netflix's


advertising campaigns usually revolve on several significant themes. One
main theme is the great and varied selection of the varied content library,
which highlights original series, movies, documentaries, and licensed
materials. Emphasizing the range of genres and stories on the platform,
campaigns satisfy different tastes and preferences. Emphasizing popular and
critically praised films and shows including "Stranger Things," "The Crown,"
"Money Heist," and "The Witcher," another major theme is the support of
original material. This message mostly stresses the originality, quality, and
uniqueness of these works. Moreover underlined by its global reach and local
appeal, so stressing both material appealing to local viewers and its
availability everywhere. This all-encompassing approach highlights it's ability
to offer something for everyone wherever in the world. Netflix's campaigns
finally respect binge-watching culture—a concept the platform has helped to
popularize—by pushing viewers to enjoy several episodes or seasons in one
sitting. With so many options available on website and app, viewers could
struggle to choose what to see. Those who make this decision overload
might either simply not view anything at all or delay making decisions. Using
FOMO—fear of missing out—Netflix encourages viewers to see new content
right away upon release. Since users know, they do not want to miss the
newest shows and movies, the company is more likely to find them. Using
gamification helps Netflix make its platform more engaging and addictive.
For example, the company awards badges and incentives to customers for
viewing specific content or finishing particular challenges. Users of this
gamification are more likely to keep visiting Netflix since they feel as though
they are engaged in a game.

CITATIONS
 Asmar, A., Raats, T., & Van Audenhove, L. (2023). Streaming
difference(s): Netflix and the branding of diversity. Critical Studies in
Television, 18(1),
 24-40. Jang, M., Kim, D., & Baek, H. (2023). How do global audiences of
TV shows take shape? Evidence from Netflix. Applied Economics
Letters, 30(3), 285-291.
 Kingsnorth, S. (2022). Digital marketing strategy: An integrated
approach to online marketing. Kogan Page Publishers.
 Kucuk, S. U. (2023). Digital Marketing and Digital Marketing Mix. In
Visualizing Marketing: From Abstract to Intuitive (pp. 119-155).
 Cham: Springer International Publishing. Netflix Marketing Strategy &
Marketing Mix (4Ps) by MBA Skool Team, August 10,
2021https://www.mbaskool.com/marketing-mix/services/17729-
netflix.html
 Comprehensive Marketing Mix of Netflix – With Full Company Overview
by Aditya Shastri https://iide.co/case-studies/marketing-mix-of-netflix/

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