- Published: November 24, 2021
- Updated: November 24, 2021
- Language: English
- Downloads: 26
Netflix Company is a subscription home based Entertainment Company. The company was launched in the year 1998. However, by the year 2010 June the company had grown to 15million subscribers. The company is currently the leading movie company. This paper will discuss some of the short term objectives of this company. The paper will also discuss the firm’s functional tactics that the firm have put in place so as to achieve the short term objectives.
Some of the companies’ objectives include investing in investor communications and product differentiation; invest in marketing in order to target market segments which underscore the affordability and convenience of Netflix. In addition, other short-term objectives of the company include building a brand. Despite this being a short-term objective of the company, it was considered crucial to the future growth and success.
Actually, the company’s top organs realised that without a strong brand, other competitors with deep pockets could have easily duplicated the company’s business model. Another short term objective was leveraging technology; this was considered critical to the company. This is because it was likely to lead to the establishments of the business and the overall infrastructural growth. Retaining and growing subscribers was considered critical especially to the revenue and the marketing goals.
Some of the tactics that the company is applying in order to achieve the above mentioned objectives include: implementing Porter’s approach. The approach was used in order to set the company apart from its competitors and to build a big customer base. Another critical tactics that is being used to achieve the objectives is employing the strategic partnership. This approach heavily utilized product, service, promotion, logistics, distribution and the pricing alliances to develop and grow the business. The application of the internet has facilitated segmentation, targeting, positioning and enabled the companies to create a successful marketing mix.
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