Netflix’s Marketing Mix Term Paper - 825 Words

Netflix's Marketing Mix (Term Paper Sample) Content: Netflixs Marketing MixName:Institution:Marketing mixThe marketing mix of Netflix is the one that has given the company an edge to compete with other companies that are comparatively market giants. The fact that Netflix is competing in same market with the likes of Blockbuster can be credited to the companys marketing mix. The marketing mix for Netflix includes a unique line of products. Among these is the DVD home delivery service and online streaming. The company has also extended service delivery where customers can download movies from the internet into a wide range of devices such as Samsung Blu-Ray and Playstation3 players. Customers can download the movies instantly into these devices and many others. This serves to offer customers a wide range of uniquely designed products. The ease access of products from the internet, which is widely available, goes a long way in ensuring that customers can access the products conveniently. This convenience has an instant app eal to customers (Davenport Harris, 2007).Netflix also provides services through direct mail. This is one of the tactics that has given them an edge ahead of their competitors in the market. This method of DVD delivery ensures that customers get them at the convenience of their doorsteps. This minimizes the effort that the customer is required to use in the process of acquiring the commodity. The company has also set up many shipping points nationwide. This ensures that the orders placed by customers are processed within the shortest time possible. With these shipping centers distributed across the country, Netflix is able to stay ahead of competition because mail delivery is processed in points closer to the customers. Customer and online members are able to receive their DVD orders within 2 business days. To add to the all these measures, the company has its online movie store open all the time everyday. The store offers a wide selection of movies and hence it has become a one-st op movie shop for customers (Parasuraman, Grewal Krishnan, 2007).Netflix is also focused on aggressive advertising strategies that seek to expand the companys customer base by promoting their products and services. The company uses Google ads and website pop-ups to advertise its products online. This is a great strategy since they seek to tap internet users to visit their online movie store. In addition to these, Netflix offers its customers several payment options for online purchases. This enables the company to adapt to different customer choices and preferences. The marketing mix of the company is an excellent model that is tailored on the provision of an extensive range of products and services in fast and convenient way.Competitors Reaction Some of the competitors are expected to use price reduction as a strategy to attract customers who are regulars of Netflix. Some customers may, however, forego the low priced products offered by such companies for the quality and reliable products and services offered by Netflix. A competitor would also be expected to place advertisements in some of the websites that Netflix has placed their advertisements. In this way, the competitor will be seeking to attract the traffic of customers that would probably be attracted by the Netflixs advertisements. Competitors may also react by starting online rental system and doorstep delivery systems. This would be in effort to mimic Netflixs success plan. Such a reaction may, however, take time for the expected results to be realized. This is because Netflix has done a lot product advertising and service awareness that compliments the companys system of delivery. Competitors may also react by setting up regional movie stores and shipping points in multiple locations across the country. Such a reaction would be triggered by the desire of the competitors to offer movie services at the convenience of customer. Such a reaction would be handled by giving regular online offers for cus tomer. This would give the customers a sense of belonging and loyalty to the company. An online movie rating and feedback system would appropriately ensure those customers are well informed before making a purchase (Krishnamurthy, 2004).Performance EvaluationIn order to evaluate the performance of the marketing mix, some marketing metrics shall be used. First of all, financial metrics have to be used. These include the marketing performance metrics and the revenue metrics. The revenue met...