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Introduction- Strategy And Planning
A successful communication strategy creates a roadmap for the individual employees that rapidly change the organizational environment. Understanding, predicting, and effectively reacting is the affective trends in the business to increase positive aspects within the organization. The aim and objective of the study are based on Netflix entertainment, identifying current problems in the internal and external environment. Through the innovative strategy, Netflix survives in the future market which is attracting individual customers.
Figure 1: Marketing plan for Netflix
(Source:Netflix.com, 2022)
Access to the internal and external environment of the market
Internal environment
On-demand internet media based in the United Kingdom of Netflix attracts individual subscribers through its innovative strategy. The company structures are depending on innovative strategies and Netflix always follows three market strategy such as effective communication, innovative strategy and advertisement which is creating more demand. Online streaming is created major demand and has a positive effect on companies' performance (Xueet al. 2018). Special business performance is followed by the common company and individual suppliers following effective business approaches to develop sales volume. The company's balance is maintained by consumers' demand and Netflix identify customers' choice which is necessary to increase more subscribers (Netflix.com, 2022). Convenience customers are increasingly becoming a more common strategy which is followed by the company. Nowadays, most consumers are choosier about streaming channels which is create more competitors in the business.
SWOT analysis
Strength
? b brand reputation through the streaming channels
? High adaptability increases more demand for the company
Weakness
? Copyright streaming is a major weakness of Netflix
? Lack of original content which is harmful to the customer service
Opportunities
? Global presence is necessary to capture consumers concept
? Traditional advertisement policy is developed customer experience
Threats
? Government rules and regulations affected company’s performance
? Lack of original series are the major reason of customers diversification
Table 1: SWOT analysis
(Source: Self-created)
SWOT analysis discusses the strength and weakness of Netflix, as well as market threats and opportunities. The major strength is customer satisfaction, which is necessary to change the market situation and involve major opportunities in the future (Mina?Casaranet al. 2021). Online streaming is attracting individual customers which are creating major demand through the innovative strategy. As the biggest online streaming platform, Netflix always focuses on customers' choices which are created more demand in the international market. Threats and weaknesses are common factors that are faced by the individual company (Melkonyan et al. 2019). There are two more important factors such as strength and opportunities which are rapidly increased subscribers into the international market. External business environment of the organization is measured by the business activity.
Inter4nal strategic factors of the organization are measured by the business activity and that able to minimize business difficulties of Netflix.Around 167 million subscribers are engaging by the innovative strategy of Netflix.Adaptability and originality are the major reason to increase sustainable business subscribers of Netflix.The company's balance is maintained by consumers' demand and Netflix identify customers' choice which is necessary to increase more subscribers (Netflix.com, 2022).
Value chain analysis
Operations
Logistics service
Outbound logistic service
Marketing and sales
Integration
Implementation
Threat of substitutes
Bargaining power
Threats of new entrant
Table 2: value chain analysis
(Source: Self-created)
Value chain analysis is described numerous business activities of Netflix, and also creates competitive advantages in the market. Netflix value chain analysis is interesting to study because innovative business models are always followed by the common company. Value champion analysis helps to increase companies' profitability which depends on the primary activities of a business. The primary activities of Netflix are operations, logistics service, outbound logistics, marketing, and sales (Netflix.com, 2022). Marketing strategies are common factors in every business that can take necessary actions during difficulties.Strategic alliance and innovation need to improve by Netflix which is increasing more subscribers in the international market.
External environment
Political factors
Netflix allows to operate by the USW policies but is restricted by various countries
Tax rate of the company is quite high due to threats to the company
Economic factors
High GDP growth rate the demand for Netflix market increase brand awareness
Original content of domestic streaming is to minimize total cost
Social factors
Unemployment, as well as demographic trend, is maintained sociological forms
Quality of the content is increasing customers awareness
Technological factors
Advertisement and digital media are plates major role to increase the spend of surfing
Cyber security during the illegal hacking is necessary
Legal factors
Intellectual property right and consumer protection law 1986, taken care for individual customers
Identify local ownership requirements are minimized copyright-related issues
Environmental factors
Online renewable technologies are ensuring business sustainability
Growing concern through maintained by the environmental sustainability (Kabeyi, 2019)
Identification of current problems
Lack of original content are major difficulties of Netflix which is maximize individual competitors of Netflix. Individual customers are diverted to the other streaming channels through the poor content. Shares of Netflix have become decreased by around 9% due to the lack of subscriptions and the growing competition level is the major problem which is faced by the organization (Bielekeet al. 2021). The US is the most mature market, and Netflix needs to add a lower cost tier that involves cost minimization activity in the business. Apart from that, copyright is another major issue which is faced by the current company and sales volume has been decreased by 9% due to same issues.
Recommendation
Internationalization is the best way to expand business demand, which includes higher profitability in the business. Netflix needs to follow an integration strategy that is developed by the individual suppliers. Netflix and Roku can easily make a case by their merger and creates efficiencies that accomplish with the supported subscription tier. Strategic alliance and innovation need to improve by Netflix which is increasing more subscribers in the international market.The aim and objective of the study are based on Netflix entertainment, identifying current problems in the internal and external environment.
Feasible solution
Feasibility business services are necessary for the business and Netflix is need to increase original content and develop more subscribers. International growth is a major opportunity that is improved by the communication strategy. For an effective solution, the company can achieve positive business goals through effective communication (Liu and Russo, 2021). Content fragmentation is improved by the original content which is a feasible solution to increase companies' demand.
Conclusion
Based on the above discussion it can be concluded that feasible solutions are necessary to minimize the current problems of Netflix. Lack of original content, as well as copyright claim, is the major issue which is faced by the common company. Numerous subscribers are focusing on the original content which is necessary to increase business demand in the market. Through the value chain analysis major difficulties are described which is necessary to increase the number of subscribers in the market.
Reference list
Bieleke, M., Keller, L. and Gollwitzer, P.M., 2021. If-then planning. European Review of Social Psychology, 32(1), pp.88-122.
Kabeyi, M., 2019. Organizational strategic planning, implementation and evaluation with analysis of challenges and benefits. International Journal of Applied Research and Studies, 5(6), pp.27-32.
Liu, O.Y. and Russo, A., 2021. Assessing the contribution of urban green spaces in green infrastructure strategy planning for urban ecosystem conditions and services. Sustainable Cities and Society, 68, p.102772.
Melkonyan, A., Krumme, K., Gruchmann, T., Spinler, S., Schumacher, T. and Bleischwitz, R., 2019. Scenario and strategy planning for transformative supply chains within a sustainable economy. Journal of cleaner production, 231, pp.144-160.
Mina?Casaran, J.D., Echeverry, D.F. and Lozano, C.A., 2021. Demand response integration in microgrid planning as a strategy for energy transition in power systems. IET Renewable Power Generation, 15(4), pp.889-902.
Netflix.com, 2022, Unlimited streaming. Available at: https://www.netflix.com/in/ [Accessed on: 25th July, 2022]
Xue, J., Liu, G., Casazza, M. and Ulgiati, S., 2018. Development of an urban FEW nexus online analyzer to support urban circular economy strategy planning. Energy, 164, pp.475-495.
