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The Netflix Marketing Plan Power Point

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The Netflix Marketing Plan Power Point

  1. 1. Marketing Plan Shawn McNail Keefe Janke Matt Richter Roman Zepeda Nan Zhou
  2. 2. Netflix’s Background • Founded in 1997 • Monthly subscription-based company that provides its members a vast selection of movies and television series that they can watch without any limits
  3. 3. Mission Statement • “Our core strategy is to grow our streaming subscription business domestically and globally. We are continuously improving the customer experience, with a focus on expanding our streaming content, enhancing our user interface and extending our streaming service to even more Internet-connected devices, while staying within the parameters of our consolidated net income and operating segment contribution profit targets.“ • Simplified- “Our main strategy is to grow our business while providing a user friendly service, with the goal to expand our service to more mobile platforms and staying within our budget.”
  4. 4. Company goals & objectives • Maintain our position in the video-streaming market • Configure a demand system where customers can request media selections that we currently do not hold • Provide better streaming in mobile forms • Replace television as primary source of visual entertainment “The age of broadcast TV will probably lasts until 2030” -Netflix CEO, Reed Hastings
  5. 5. Situation Analysis Strengths • Well known brand name with positive impressions. • Easily accessible through many medias. • Active in acquiring new content for their library. • Affordable flat rate of $8.99 a month for all-you-can-watch streaming service. Weaknesses • Many lawsuits have been derived from violating customer privacy. Continuous violations of customer privacy can damage the company in the long-run. • Netflix’s inability to prevent pirating. Opportunities • Increase profit by expanding to foreign countries • Live streaming of TV shows that are on during the time for the people that have no access to a TV. • Set up a demand system for customers to request a movie or show that is currently unavailable Threats • Multichannel video programming distributors (MVPDs) still dominate a majority of the American population with its 101 million subscribed households. • Comcast and other ISPs could stop putting data onto Netflix’s network and seriously decrease Netflix’s video quality due to payment issues. • Pirating: Researches show about 46% of American adults and 70% of youths between 18-29 years of age illegally pirate movies. InternalExternal
  6. 6. Netflix’s Main Competitions • Hulu(Plus) • Amazon Prime Instant Video • YouTube
  7. 7. Company Netflix aim to be the top provider of video streaming content and have quality material to be viewed. Our product and services are made with the customer in mind.  Convenience is a top priority  Customers have a voice  Providing customers affordability  Easy exit option for customers
  8. 8. Customers • Our primary survey revealed that many people who have Netflix, which was about 59 people out of 65, tend to be well within the ages of 18-24. • Since our audience is mostly college aged, we will continue to focus on college students by showing them what Netflix has to offer. • Although the platform varies for a lot of people as of what device they prefer to use, but many of them use the computer/laptop and the television to watch Netflix.
  9. 9. Market Segmentation Netflix appeal to a very large and diverse market group, its customers can be anyone from the ages of 18 to 59. But Netflix’s target market segments are: • College students • Families The main needs that Netflix suffice are time efficiency, convenience, low affordable price, and variety.
  10. 10. Target Market College Students • Can find internet connection easily in dorms and anywhere on the college campus. • Need a variety of entertainment that are flexible enough to fit into their busy school schedule. • Mainly looking entertainment for low prices that they can easily afford. Families • Family members of all ages can find suitable entertainment on Netflix. • The whole family gets to relax and spend quality family time together without having to give up any important details in their daily schedule to catch a movie time. • It is also extremely affordable for homemakers as multiple accounts can be made under one Netflix subscription.
  11. 11. Positioning In order for Netflix to stay as a leading brand, the company needs to satisfy the needs of customers, which includes good affordability, accessibility, and variety.
  12. 12. Opportunities Product • The product will be on the internet, available with your username and password in order to get into your account to stream videos and movies. • There is also the option to have DVDs and Blu-rays shipped directly to your home for rent with an extra fee added to it. Price • The price will remain the same, $8.99 a month to stream two screen simultaneously, and $11.99 to stream four screens at a time, but it is possible it could increase more to earn more profit. • We also have the option to rent DVDs and Blu-rays starting at $7.99 a month for one DVD and ending at $43.99 for 8 DVDs at a time. The Blu-rays start at $9.99 for one Blu-ray at a time and ending at $26.99 for 4 Blu-rays at a time. Place • We sell our product on the internet, available to purchase only with cash on the internet. It is on the netflix website that you can use the service of streaming videos to your wireless network. Promotion • We advertise our service with commercials on television and also social media websites. We also automatically give the first month free to every new customer that we get in order to lure in more people.
  13. 13. Implementation Plan We will begin to implement our marketing plan on January 1st, 2015 as New Years Day is a time known for renewing your brand. • We will monitor our success using sales data and compare next year's sales performance to the previous years. • We will also use data collections to determine if our customers utilized our new features such as the demand system. • Through our implementation plan, we plan to decrease customer turnover because we addressed their concerns. • We will use a biannual evaluation system to determine early on whether to continue with our marketing plan or abandon it.
  14. 14. Promotional and Advertising Timeline Because of our January 1st implementation date… It will be in time for the Super Bowl where we will be able to advertise during their commercial breaks to a potential audience of around 111 million viewers. From that point, we will execute continuous advertising and promotion through traditional platforms such as social media, commercials, billboards, etc.
  15. 15. Any Questions?

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