Question

What are the key success factors for this industry? Does this industry offer good prospects for profitability? (Netflix)

Answer 1

Success factors in the industry:

i). Choosing and targeting the right segment of customers with niche marketing strategy as a launch strategy helps the organisation.

ii). Using differentiation strategy of providing services to the customers with premium offerings, and selection of TV commercials etc, customization to the customers.

iii). Providing options to the customers in choosing streaming and DVD lines.

iv). Better customer service, customer guarantee, helps the organisation to attain a customer base that sticks with the organisation for a long period of time.

v). Technological advancements is quite essential for an organisation like Netflix, hence technology can make the organisation competitively advanced in the industry.

Prospects of Profitability:

i). Stable markets in United Nations help the organisation attain profits.

ii). Growing international markets has been helping the organisation to expand and diversify its business to new markets.

iii). Better service offerings to customers and customers looking for new varieties, have making organisations look for new innovating new products.

iv). Being dominant player has been helping the organisation to attain profits.