Marketing Project Group- 7- Status 2 Report

Marketing Project Group- 7- Status 2 Report

Company of Interest- Netflix

Netflix Situational Analysis- SWOT Analysis

Strengths- Notable Media streaming reputation

– Affordable subscription across various countries – Highly Preferred media company and provides easy

navigation

– Contains global presence and streams original movies

Weakness- Lack of good customer care executives

– Reduced demand for subs price for less socioeconomic background categories

– Increasing debts and contains limited copyrights – Highly depends on North American customer base – Lack of original content and delay for adding popular new

movies

Opportunities- Doesn’t have ad-based business model

– Have global presence and strategic partnerships with local markets

– Brand reputation and high downloads compared to other streaming companies

– Increased demand for OTT platforms and other product lines

Threats- Impact of Pandemic delayed several movies and shows

– Issues regarding the content privacy and governmental regulations – One main account shared with multiple users’ effect company revenue – Certain countries prevent shows from streaming due to unappealing content – Many people attempt to watch pirated version rather than paying subscription fee.

Industry Analysis

Netflix competitors- Amazon prime, Disney+, Hulu, Sling

Netflix is a globally popular media streaming and production company that has an annual revenue of

around $28.6 Billion. In 2021 alone, “Netflix bagged seven Academy Awards for its original content, the

most among streaming service competitors, nearly doubling its all-time Oscars tally in just one night and

bringing its total Academy Awards wins to fifteen. However, it doesn’t necessarily mean that Netflix has

it all”. Despite its strong value proposition, it is competing against many global players, making it even

challenging for Netflix to maintain its streaming services to ensure continued growth and success in the

future. The following table showcases the close competition between Netflix and other popular streaming

companies.

Competitor Analysis

Even though Netflix is considered to be the leader in the media streaming market, with the recent influx

in Amazon prime and Hulu subscriptions it has created a barrier for Netflix to fully flourish. This is

mainly because of the similar package deals and subscriptions that is offered across different media

companies. This can be substantiated from the Amazon Prime and YouTube which are the strongest

competitors of Netflix and contains over “100 million users.” Thus, hindering full growth in Netflix

because of not being able to stream licensed shows due to the high costs and other expenses. Furthermore,

because of the similar video quality and internalization strategy, Netflix continues to get impact with such

relevant competitors.

Customer Analysis

The current and future customers main priority and demand is to have easier navigation, updated shows,

and reduced subscription costs. By doing so, Netflix can carter valuable service and allow larger number

of users to stream on Netflix. Some things that can encourage the customer to use Netflix is the different

option deals and the updated quality and lists of shows on Netflix. However, few things that that

discourage potential users to get Netflix is the access of specific shows and the high cost of subscription

fee.

Sources-

https://www.edrawmax.com/article/netflix-swot-analysis.html

https://www.sortlist.com/blog/netflix-marketing-strategy/ https://www.edrawmax.com/article/netflix-swot-analysis.htmlhttps://www.sortlist.com/blog/netflix-marketing-strategy/