Individual Marketing Innovation Project: Netflix's Strategies Analysis

This project provides a comprehensive analysis of Netflix's marketing strategies and innovation. It begins with an executive summary, followed by a detailed marketing analysis that examines market trends, strategic positioning, market projections, and competition. The analysis utilizes tools such as PESTLE and SWOT to evaluate both internal and external factors influencing Netflix's performance. The project then delves into the proposed innovation, focusing on the implementation of a smart mobile application using augmented reality to enhance user experience and brand awareness. The benefits of this innovation, including improved information access, easy visualization, and a unique user experience, are discussed. The project concludes with an assessment of the innovation's impact on Netflix's future prospects, considering the dynamic market environment and the role of technology in driving growth. The project also provides an overview of the Netflix business model, and its competitive advantages.

INDIVIDUAL MARKETING INNOVATION PROJECT

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................3
MARKETING ANALYSIS.............................................................................................................3
INNOVATION & CONSEQUENCES...........................................................................................5
IMPLEMENTATION PLAN..........................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES................................................................................................................................1

EXECUTIVE SUMMARY
Innovation termed out as thing that come up with new idea, creative thoughts and new
imagination in form of device or method (Tiwari and Buse, 2020). Therefore, this must be
viewed as application for better solution that assist to meet new requirements, to full-fill existing
marketing requirements and unarticulated desires. Thus, business innovation defined as process
of organisation that mainly focus over to introducing new ideas, workflows, services and
methodologies etc. The present report will be based on to come up innovation over any one of
element of marketing mix. Furthermore, study will lay focus on to provide key findings of
marketing analysis with help of application of marketing consumer behaviour theories. Thus,
references will be given to marketing and consumer behaviour theories. Lastly, implementation
plan will be produced with proposed innovation proposal by including information such as
simple budget, roll out plan and target matrix.
The chosen firm is Netflix as company and its model based upon a per user charge as
each customer pays for their membership. This organization will provide the facilities for user
where they will share one account by setting up different viewing profile through login. Netflix
is based on the American media service provider and production company. It has founded in
1997 by Reed Hastings. The organization enterprise its subscription based streaming service. It
offering online stream of library of firms, television program.
MARKETING ANALYSIS
Netflix is a based on leading streaming video on-demand organization that mainly
operating in 200mcountries with 200 million of subscriber. In another term, it can be said that
one of crucial component that assist business with all crucial information and also aids to make
wise decision (Nabiullina, Bystrova and Kirakosyan, 2020). According to market research, it has
been revealed that Neflix 137million of customer, 13.7 million are not paying on $9.95 monthly
basis. So that they have to miss the sales in every month. An effective marketing analysis can be
helpful in getting valuable insights in sifts within economy, ongoing marketing trends and the
traits of customer’s expenditure etc. In addition to this, the large portion of the marketing
analysis is mainly relay on to conduct market research before undertaking actual analysis.
Therefore, these are outlined as-:
 Marketing trends- It assist to carry contextual significance to the business and market
with help of defining current tendencies and optional progression (Gerybadze, 2020). In

order to analyse marketing scenario, the tools as PESTLE, SWOT needs to be conducted
so that better and effective analysis can be conducted.
 Strategic Group and Positioning- in today’s world, Netflix is a leader in term of
consumer video streaming. The organization support for paying user among competitors.
It should provide large number of information on different platform (Sanz-Llopis and
Ostermann, 2020). On the other hand, it also produced the series, movies which has been
popular. In order to take advantage for maintaining position in global marketplace.
 Market projection- it has been projected the Netflix global market share of over top
streaming video. It has to be considered as subscription tool that combines the
information from research analysis the perception and market trends (Giusti, Persiani and
Ricci, 2020). It helps to forecast the future of target market as well as business place in
the future market. In global marketplace, it has analysed the business insider with data
that mainly shows how Netflix global market share of over top most video subscription.
 Competition- It is needed to conducted in terms to identify that how the target potential
user perceives the competitors brand (Improta, De Luca and Triassi, 2020). While
adopting the subscription to share their account details of another one. In this way, it can
be defined the how the current trends of Netflix effect competitors or how the
competition can affect the business within future.
Analysing marketing trends
Netflix is the fastest growing video subscription that attributable to enterprise strength
and competitive advantage. It enabled for increasing the global expansion and also dominance
market value.
SWOT- This is termed out as one of effective plan of action that aids to evaluate
strengths, weakness, opportunities and threats etc. Herein, there are mainly four components that
can be used to evaluate both internal and external component relate with innovation. These are
outlined in following context as-:
Strength-:
 The chosen firm has the biggest share in term of video streaming subscription which
provide better quality of services in global marketplace.
 Netflix has higher brand equity which produced the high content producers as well as
customers (Azzouz and Papadonikolaki, 2020).

 This process innovation which will increase the capacity for original content creation
over the world.
Weakness-:
 This entity has the decentralised organisational structure and this can affects the working
of the enterprise in huge aspect.
 There is imitable business model which are dependence on the specific content
producers.
 There are limited dependence on internet service providers.
Opportunities-:
 This innovation can aids to enhance competition within the field of video streaming
subscription which provide better quality of services.
 The market share can be penetrated in the new markets while enhancing the business
expansion.
 The strength is that when enterprise diversification into other industries and marketplace.
Threats-:
 The most important threat is higher competition level which directly affects on the other
business.
 The issues has been increased in content privacy and other entertainment.
 It also increasing the cybercrime.
PEST analysis- This is tool that aids to understand the market dynamics and also aids to
improve business activities continually (Rodríguez-Sánchez, Mercado-Caruso and Viloria,
2020). Therefore, these are outlined as-:
 Political Factor Netflix is one of leading enterprise in the world and this has effective
global presence. In Additional, Netflix is not available in all countries, they cannot offer
suitable content from different countries. It has restricted the Netflix from conducting the
business in another nation (Rangone, 2020). Sometimes, the chosen innovation can have
ineffective results if an entity do have political instability.
 Economic Factor- Netflix operates more than 120 countries, they have increased
fluctuation exchange rate and become weaker currencies. In this way, it has faced the
problem or issue when Netflix shelling out big bucks and also develop within the
dynamic environment and here it is crucial to constantly adapt the changes (Studerus and

Lüscher, Kaba AG Group Innovation Management, 2020). Thus, slowdown within the
countries can have huge impact on the working of the enterprise. In this kind of situation,
the Netflix and many other entities can face the low demand situations.
 Social Factor- many employees love working with Netflix but they are not treated
equally. In the present era, the customer has become very conscious about their video
streaming subscription that do not easily believe on commodities that sell at online level
(Jarmai and Vogel-Pöschl, 2020). Also, they do not purchase the commodities that has
detrimental impact on environment.
 Technological Factor- Netflix has huge impact on the working of the enterprise.
Therefore, the entity will come up with innovation such as except high quality and
content( Schönherr, Martinuzzi and Jarmai, 2020). It provide the better quality of video
streaming, Netflix mainly used the specific system to compress vide without reduce
quality. Hence, subscriptions will be increase among people, where they can Netflix to
watch the videos. At the online platform, it is to be considered as high quality of service
which provide better videos. In this way, customers are continuously interacting with
content, features which become much appreciated.
INNOVATION & CONSEQUENCES
Innovation
Innovation plays crucial role in manner to advanced the business activities and to bring
streamlined operational process. The chosen firm is Netflix, that will come with innovation as
provide the high quality of video streaming facilities. On the other hand, they can launch Netflix
smart application will help customer to access content.
In this wya, it will be given about concept of Netflix and steps will be defined to use any
specific content. Hence, customer will be advised to use Netflix which become biggest
innovation actually itself. It can review the competition between the big screen and Netflix
which are well documented. It also understand the competition among rival streaming sites.
This can be one of the effective innovation as the customer can get idea to do
subscription through online platform. In addition to this, Netflix innovation can be termed out as
how businesses functions are needed to be performed (Tronvoll, and Edvardsson, 2020). This
innovation will be termed out as digital transformation within process working of the enterprise.
It will have profound impact on the way entity takes entery and compete within market.

Therefore, competition will be vital in driving innovation and this will also have affect over the
policies that set out by the policy makers within market.
The Netflix innovation disrupted by creating the unrealized value for taking advantage of
increasing new modern technologies. Smart mobile application can assist to streamline video,
content which process for enhancing the efficiency, leads to improve productivity and save
money. Sometimes, this can be very typical to adopt the new technical advancement when the
entity is already performing well within market.
Benefits of innovation
In the current era, Netflix is taking steps towards to undertake innovation with help of
smartphone application and this kind of the innovation can be termed out as the Augmented
reality. Netflix has been created the value in term of innovation, addressed the underserved group
of client. It is technoliogical advancement that work as to online streamline the processes of
work, assist team to work more efficienctly and also gives better features insights and supports to
accelerates the growth of Netflix enterprise. It is innovation that referred as to undertake
superimposition of the virtual objects via a smartphone and tablet screen. Thus, benefits are
outlined as-:
 Improved information- This is defined as one of the effective Netflix application as this
provides user with additional information about the videos, space and material in real
time. In this, consumer can able to retrive the information in terms to characterstics and
features. Netflix is exploring the way to make production of content which become more
efficient. The dedicated team of Netflix has been introduced the tool and platform while
providing information or data.
 Easy visualization- The advancment as AR makes this possible to visualize tthe object in
the personalized aspect. Herein, consumer can able to modify the characterstics and
observe the market considitions in better manner. This is innovation that can aids to bring
improvement within interaction among realtor and customers.
 Unique user experience- Another significant advabvcment of this app as Netflix which
provide an opportunity for consumer to make the well informed decision-making of video
streaming. This is app that can enhance the customer satisfaction with help of providing
better experience to high quality of video facilities .

 Improved brand awareness and image- Customer satisfaction or happiness as a key
metric which providing better video facilities, Technological innovation can be defined as
one of popular advancement. This aids to target the potential customer within market and
increasing rate of subscription in global marketplace. In phase, it has planned Netflix
strategy that will setup them up for success and also focused on the technology. In this
way, it has increased the brand reputation, brand awareness in global marketplace.
Impact of innovation towards future perspective-:
The current era is dynamic and ever changing. In addition to this, the wave of mega
trends that inclusive of rapid changes in the globalisation and technological advancement creates
the new market forces. Henceforth, the one of the ultimate purpose of the Netflix innovation is to
advanced the growth of an entity, helping to create smart future etc.
Netflix has a value of proposition to both positive and negative side of enterprise.
Potential client use the distribution channel such as blockbuster that amplify the different
phenomenon. It is to be considered as popular title which mainly shows as marketing budgets. In
addition to this, Netflix technological innovation can affect the all over aspect of the world. In
this wau, the artificial intelliegnce is term that is becoming one of collaborator that helps to
advance and boost the future growth within enterprise.
Innovation aids to reshape the business society at the greater context. Therefore, this can
be stated that With the fast changing market forces (e.g., globalization, digitization, changing
demographics and industry mix, global urbanization trend and environmental issues. There is
need to come up with innovation that can affects positively the working enterprise.
Impact of innovation on consumer decision-making-:
Innovation is termed out as the idea, practice of product that perceived by an individual
and group. Henceforth, Netflix can be said as innovation that can be perceived by the potential
market as a change. In addition to this, innovation plays crucial role towards to changing
behaviour, purchasing habits of customer’s and aids to improve the living standards of
consumers.
In addition to this, the innovation can be seen as the result of accident among the
technological changes and customer’s needs. Therefore, the concentration is over the connection
within the Netflix. Thus, perception of the consumer can be understood with help of cognitive

models of consumer behaviours. Afterwards, Netflix make policies where they are charged
according to number of hours. These are outlined as-:
Consumer behaviour have two kind of cognitive model that can discerned. Thus, first one
is the analytical model as this provides the framework of explaining the behaviour of consumers.
These model can aids to identify the plethora of influencing component and this can also
intimate the broad relationship among components within consumer decision making. Due to
wide ranging scope, such model are termed out as the grand models. It is the model that aids to
traditional five steps classification that assist to outlining the problem recognition, information
on search alternative evaluation, choice and outcome evaluation can be termed out as one of
effective key stage in consumer decision making process.
Therefore, the second type of cognitive models of consumer behaviours this is termed out
as perspective model and this offers guidelines or frameworks to organise that how consumer
behaviour is structured. These model in perspective is inclusive of order in which elements
appear and also prescribe the effect that needs to be observed.
Engel Kollat black wall model- In this model of consumer, this can be possible to view
consumer behaviour as decision process. Thus, identification can be done in following manner
as-:
 Problem recognition- The consumer can able to recognise the difference among the
actual state and what the ideal state needs to be. It is the step that can occur on account
of stimuli (Gerybadze, 2020).
 Information search- It is method of innovation that is selective in nature and the
consumer will accept the information as this is perceived by them.
 Alternative evaluation- It is method of evaluation that aids to evaluate the alternate
brands. This technique can be used to undertake evaluation in various commodities and
this depends on consumer underlying goals, personality and motives (Five Steps to
Implementing Innovation, 2020). In addition to this, the consumer has varied
predetermined belief in respect of various brands relate with characteristics of brands.
 Choice- The choice of the customer’s highly depends on his or her intention and attitude.
Therefore, the selection of the customers will be based on the anticipated circumstances.
In addition to this, the choice of the customer can be influenced by the friends and family
members etc.

IMPLEMENTATION PLAN
Innovation has become the buzzword from the past few decades. Henceforth, the Netflix
looks over the innovation that creates the drive innovation and this also aids to survive customers
within market. Netflix encourages the more subscribers to increase the views, recommends title
which are similar to those establish link with other video streaming. In addition to this, steps
towards to innovation are outlined in following context as are-:
Sport opportunities for innovation-
Innovation aids to provide new shape to organisational activities. Therefore, this is short,
agile sprints and aids to build grand challenges investment. Thus, main aim of innovation is to
sort out the issues that exists within business enterprise in regards of content privacy. Thus,
chosen firms as Netflix will come with innovation as an application that will help customer to
take digital make over (Tiwari and Buse, 2020). In order to undertake this innovation, this is
crucial to undertake identification that assist to analyse the needs and wants of customers.
Thus, it makes them loose a lot of money while introducing the per hour charge where each
customer has charged as per number of hours. By identifying the requirement of customers the
entity can undertake the changes in more effective and efficient manner.
Prioritizing opportunities-
After conducting the first step, the next step will be taken as to prioritize business ideas that
assist to select the kind of strategy to business. At this level, the enterprise needs to undergo as to
take procedures of testing and refining innovative opportunities so that one of the best possible
way to undertake the innovation can be chosen. This can be helpful in order to streamline
operational activities in enterprise.
Resource and budget:
It will implement the concept of Netflix innovation which require the proper time, staff,
resource and sponsors those always support for including information. In order to generate
proper resources.

Risk assessment:
The project is mainly involves for identifying potentrial risk of project implementation and
also communicatinh with the different stakeholders. It mainly consists of several variation of risk
analysis.
 It might be decreased the probability of success project completion.
 To identify the activities that require to mitigate risk and enure contingency plan in
proper manner.
Test your potential innovations-
At this, one or three innovation strategies will be framed out to undertake the process of
business activities in crucial aspect. With help of undertaking the each round of testing, there is
need to move progressively towards to more complex experiements that is inclusive of the more
users (Nabiullina, Bystrova and Kirakosyan, 2020).
Netflix frequently tests new iterations of different mobile interface, hasting made it become
clear where company has perfectly recorded the positive experience. It comes for representing
right information or content to correct person.
Build support for innovation-
After applying an effective strategies, the entity will direct their stakehlders of the business.
At this, customer will known about the klind of Netflix innovation that taken by the enterprise.
Thus, this will aids to promote innovative high quality of services to potential customer in global
marketplace.

Learn from your innovation efforts-
The next step will be conducted as to undertake the analysis that aids to identify the actual
and planned process. If there is any deviation to it, then controlling action needs to be taken so
that better innovating procedure can formulate (Sanz-Llopis and Ostermann, 2020). Netflix will
be relies on tagging to personalize, added more features for attracting large number of customer
through innovation.
CONCLUSION
Hereby, it can be concluded that managing innovation can be termed out as the system
approach that refers as to generating, prioritizing evaluating and validating new ideas and to put
them into the practice. The present report is based on business activities of Netflix that will come
with innovation as providing the facilities of users, when they can share on account by setting up
different viewing profile. Furthermore, assignment has outlined key findings over marketing
analysis with help of application of marketing consumer behaviour theories. Thus, references has
been defined in terms to marketing and consumer behaviour theories. Lastly, Implementation
plan has described the intended for user in the Netflix which require to setup own account. It is
also including information such as simple budget of charges, Subscription and target matrix.