Marketing Mix of Netflix

 British Academy of Digital Marketing

Assignment 1 - Task 3

7 P's Marketing Mix of Netflix

Fig 1. Netflix is an online streaming platform. (Lokshyn, D. 2019)

Fig 2. Users are given 3 plans to choose from. This is the price strategy of Netflix (Larsen, R. 2021)

Fig 3. Netflix streaming service is available on several devices with an Internet connection, including smart TVs, Smartphones, tablets, and laptops (Hawthorne, M. 2020)

Fig 4. Netflix uses a billboard to promote its brand with a motivational quote on how it all started (Diaz, A. 2021)

Fig 5. Netflix has a diversity of cultures and genders within its employees. (Apter, S. 2019)

Fig 6. Netflix is free for 30 days for new members. If new members enjoy the service and would like to continue, they need to do nothing as their membership will automatically continue. However, membership can be cancelled online anytime” (David, Joe 2021). This image shows how easy it is to sign up. (Ronald 2020)

Fig 7. Netflix is a streaming platform; its website and app are its primary physical evidence (Rswebsols, 2020). 

Product within Netflix's marketing mix

Product in the marketing mix is the service or product that an organisation provides to its customers. It needs to be valuable to the customer by meeting a need, want or demand they have. We can also consider the product to be the “face” of the brand or organisation, as this is most of the times exposed to all the public.

The marketing mix of a firm in large part is the product of the evolution that comes from day-today marketing (Borden, n.d.).

Netflix, or Netflix, Inc. is a streaming platform and DVD rental company founded in 1997 by Reed Hastings and Marc Randolph. Netflix is also involved in the creation of original programming. (Hosch, W. 2021).

In 1999, Netflix started to offer an online subscription service via online. Subscribers could choose a movie or TV show from Netflix’s website, and these were then mailed to the customer in the form of DVDs along with a prepaid return envelope. Although customers typically rented for a flat monthly fee as many movies per month as they wished, the number of DVDs in their possession at any one time was limited according to their subscription plans. Netflix had tens of thousands of movie titles in its catalog. (Hosch, W. 2021).

In 2007 Netflix began to offer subscribers the option to stream some of its movies and TV shows unlimited directly to their homes via Internet streaming. In 2010, Netflix introduced a streaming-only plan that offered unlimited streaming service, but no DVDs rental. In 2012, Netflix streaming-only plan was already available in the United States, Canada, Latin America, Caribbean, United Kingdom, Ireland and Scandinavia. (Hosch, W. 2021). It wasn’t until 2016 that Netflix streaming service was available in more than 190 countries. While the streaming service is the biggest revenue for Netflix, the DVD rental by mail remains profitable. (Hosch, W. 2021).

Netflix is one of the leading streaming platforms in the world, which started as a DVD rental business. Netflix is now a website that you register and pay to watch TV shows, movies, documentaries, etc. The best part of Netflix is you don’t have to see any commercial while you are enjoying the content. It is updated regularly so to it does not get out of date. To use its services, you can first try it for a period of one month and after that you have to, only if you like it or wish to continue, take monthly subscription and the good thing is you don’t have any contract with them, no cancellation fees, no commitment. You can cancel online subscription anytime (MBA Skool Team, 2021).

It has three major categories of contents i.e., licensed non-first-window content, licensed original first-window content, and owned original first-window content (Netflix, 2021). There are three plans available for anyone wishing to take Netflix membership i.e., basic plan, standard plan, and premium plan. Netflix adds new TV programmes and movies every week to meet the growing demands of the subscribers (David, J. 2021)

We can conclude that Netflix has innovated its services over the years, starting from a DVD rental service business to become a leading business in the entertainment streaming service. Netflix is not only a streaming platform, but nowadays, it is still a DVD rental mail service in the US and produces its own entertainment content (Netflix Originals). 

Reference list:

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