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Business Model Canvas Application Task Netflix

   

Added on  2021-02-20

10 Pages1996 Words478 Views
Business ModelCanvasApplication Task

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1BMC elements.............................................................................................................................1Graphical representation of BMC...............................................................................................3SWOT analysis...........................................................................................................................3CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5

INTRODUCTIONThe business model canvas is a potential tool that helps in understanding a business in astraight forward and simpler manner(Joyce and Paquin, 2016). Netflix is an American media andproduction company founded in the year 1997 by Reed Hastings and Marc Randolph inCalifornia, United States. The company's core operations involve providing subscription basedonline entertainment to its viewers include in house production shows as well. As of 2019,Netflix operates in more than 190 countries with over 148 million subscribers globally. Thus, itis important to understand the current business model canvas of the company that has contributedtowards its incessant growth over a period. The current study will highlight the elements of BMCmodel, its importance, SWOT analysis and its role in making Netflix successful(BMC model,2019).MAIN BODYBMC elementsThe business model canvas was discovered by Alexander Osterwalder, a Swiss business theoristand is an important approach that helps an organization to focus on the most strategicallyimportant elements of its product or services. The BMC is an important tool used by all theorganizations as it provides great transparency, focus and flexibility to their business whichfurther helps in achievement of goals and objectives effectively and efficiently. The BMCincludes nine models namely called product's value propositions, customer segments, keyactivities, key resources, channels, customer relationships, key partners, cost structure andrevenue streams(Rayna and Striukova, 2016).The Business model canvas of Netflix is as followsProduct's value propositions: It includes the value being delivered by an organizationto its customers. Value proposition involves the innovative services provided to thecustomers that proves to be beneficial for them in the long run. Netflix's valueproposition is concerned with unlimited entertainment, no advertisements, convenientwatching and economic pricing. These are some unique services provided by Netflixthat attracts customers and has helped the company in achieving competitive edge overthe course of time(Manninen, K. and et.al., 2018).Customer segments: It is imperative for every company to identify the targetcustomers, their needs and wants and future expectations so that the organization can1

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