Critical Evaluation of Key Marketing Concepts and the Role of Technology in Marketing

This report evaluates the role of technology in marketing and critical evaluation of key marketing concepts. It includes tasks such as evaluating Netflix's philosophy, identifying 4.0 technologies, and suggesting MarTech stack technologies for Netflix.

Critical evaluation of
key marketing concepts
and the role of
technology in
marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
Evaluate the needs of customers of Netflix and evaluate their business through ‘jobs to be
done’.......................................................................................................................................1
TASK 2............................................................................................................................................1
Evaluate Netflix’s philosophy and orientation.......................................................................1
TASK 3............................................................................................................................................2
Identify the 4.0 technologies enable the Netflix business model...........................................2
TASK 4............................................................................................................................................2
From the knowledge of MarTech stack, suggest five technologies which is expected by
Netflix to utilise in its marketing implementation and explain its benefits............................2
CONCLUSION................................................................................................................................2
REFERENCES................................................................................................................................3

INTRODUCTION
Technology plays major role in transforming the activities of marketing by involving more
personalised services (Chen and Hsu, 2021). It improves the experience of customers in
appropriate manner which increase revenue generation of organisations. This report will include
about different marketing concept and their role in marketing.
MAIN BODY
TASK 1
Evaluate the needs of customers of Netflix and evaluate their business through ‘jobs to be
done’.
Customers or Netflix demands for fulfilment of their expectations which can be satisfied by
analysing their requirements with the help of batter interaction. Customers want convenience,
transparency, price points and sustainability which should be focused by Netflix (Confetto and
et.al., 2020). All the current market trend should be followed by Netflix with the help of
technology so that they can increase their customer experiences. They have implemented jobs to
be done framework which is a particular approach in order to develop their products and services
according to their demands of the customers. All the solutions can be easily found with the help
of this approach which need be carried out in appropriate manner.
TASK 2
Evaluate Netflix’s philosophy and orientation.
Netflix have involved generic is strategy in their operations which is a cost leadership. This
helps in achievement of competitive advantages by gaining a large number of customer base with
the help of online entertainment (Graesch, Hensel-Börner and Henseler, 2020). Their competitive
transactional strategy ensures that they focus on experiences of their customers in a large number
of areas. For example, they analyse the preferences of customers so that they can provide
services according to that. Netflix become priority of varied range of customers because of their
quality services which fulfil the expectations in appropriate manner. services which organisation
offer to customers are developed in upgraded manner with the help of technological
advancement which is positive factor of different orientations.
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TASK 3
Identify the 4.0 technologies enable the Netflix business model.
Netflix is using subscription-based model that generate revenues through premium
subscription plan, standard plan and basic plan. They offer services such as shows, stream series
and movies on streaming platforms. It is highly convenient way to connect with customers in
order to offer unique content through internet connectivity (Huarng, Botella-Carrubi and Yu,
2021). Netflix have adopted advanced technologies which include their website and applications
which provides services to targeted customers. They take assistance of software developers,
filmmakers and producers, recommendations algorithms and studios in order to develop the
content. Their core structure is very large which involves number of shareholders and
technological assistance such as research and development.
TASK 4
From the knowledge of MarTech stack, suggest five technologies which is expected by
Netflix to utilise in its marketing implementation and explain its benefits.
Marketing technology is used to describe technology software and tools which are used by
organisation in order to manage their operations and customers simultaneously. Netflix can use
JavaScript, Swift, Python Java and Kotlin in their operations which can develop creative content
(Kim, Lee, and Preis, 2020). It enhances the quality of videos and shows which Netflix stream
for their subscribed customers. It increases engagement of customers and attract new potential
customers towards organisations by providing expected content to them in best possible manner.
This helps organisations including Netflix in generating higher revenue is along with establishing
their brand image in all over the world (Marasco and et.al., 2018). The retention rate of
customers can be increased in rapid manner with the involvement of marketing technologies.
CONCLUSION
From the above report it can be concluded that technology upgrades the level of products
and services which organisations of all to their targeted audience and cost-effective manner. It
adds value in services which assist in engaging audience in appropriate manner. This report
involved about a concept of technology which assist marketing of organisations.
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REFERENCES
Books and Journals
Chen, H. and Hsu, Y.M., 2021. Influence of information technology and marketing capabilities
in achieving superior customer performance: evidence from Taiwan. Asia Pacific
Business Review, pp.1-23.
Confetto and et.al., 2020. From dual marketing to marketing 4.0: the role played by digital
technology and the internet. In Beyond Multi-Channel Marketing. Emerald Publishing
Limited.
Graesch, J.P., Hensel-Börner, S. and Henseler, J., 2020. Information technology and marketing:
an important partnership for decades. Industrial Management & Data Systems.
Huarng, K.H., Botella-Carrubi, D. and Yu, T.H.K., 2021. The effect of technology, information,
and marketing on an interconnected world. Journal of Business Research, 129, pp.314-
318.
Kim, M.J., Lee, C.K. and Preis, M.W., 2020. The impact of innovation and gratification on
authentic experience, subjective well-being, and behavioral intention in tourism virtual
reality: The moderating role of technology readiness. Telematics and Informatics, 49,
p.101349.
Marasco and et.al., 2018. Exploring the role of next-generation virtual technologies in
destination marketing. Journal of Destination Marketing & Management, 9, pp.138-148.
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