Netflix Marketing Report: Market Research, Mix, and Target Audience

This report provides a comprehensive analysis of Netflix's marketing strategies. It begins with an introduction to marketing and its application to Netflix, detailing the benefits of market research, the process Netflix uses for market research, and how findings aid in planning. The report then explores Netflix's marketing mix, including product, price, place, and promotion strategies. It further investigates the reasons behind Netflix's customer targeting activities and how these activities are tailored to specific target markets through the use of technology. The report concludes by summarizing the key findings and emphasizing the importance of market research and strategic marketing for Netflix's continued success in the competitive media-services industry. It highlights how Netflix leverages market research to identify opportunities, minimize risks, and understand customer needs, as well as the role of technology in enhancing marketing activities and customer engagement.

Marketing for business

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
The benefits of conducting market research...............................................................................1
The process of conducting market research within Netflix........................................................2
The way finding of market research aids Netflix for its planning activities to market its
services........................................................................................................................................3
Marketing mix with respect to new product and services offered by Netflix.............................4
Different reasons of targeting customers with different marketing activities of Netflix............5
The way these activities tailored to target market with the use of different technology.............5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
There are different practices that organisations uses in order to sell its products and
services in market and these practices are only referred as marketing of business(Kotler and
et.al., 2015). Present study is based on the company Netflix that is an American media-services
provider founded by reed Hastings in the year 1997 at Los Gatos, California, US. Report will
include the benefits and process of conducting market research within Netflix and the way
finding of market reaserch helps the organisation for its planning activities to market its services.
Further report will include marketing mix with respect to new product and services offered by
Netflix and different reasons of targeting customers with different marketing activities of Netflix.
Report will also analyse the way these activities tailored to target market with the use of different
technology.
The benefits of conducting market research
There are different benefits of conducting market research for Netflix and are as
following:-
 Strengthen business position:- Having market research in business helps the
organisation to strengthen its position in market as it helps in gaining knowledge of
respective market trends and helps in understanding the target audience so that with the
help of different activities Netflix can remain in competition(Quinlan and et.al., 2019).
 Minimize investment risk:- It is very risky to launch the product with huge investment
without having proper research as failure of product may lead to loss for Netflix. Having
small proportion of investment with market testing and analyses helps in success of the
business products and services.
 It helps to identify threats and opportunities:- It is very important for Netflix to
conduct market research that is both primary and secondary research in order to analyse
the respective opportunities for Netflix so that they can extract the same from market. It
also helps in identifying different threats so that Netflix can take proper measures with
respect to risks arising for its products.
 It focuses on customer needs and demands:- Market research is also helpful to Netflix
as it helps in understanding the needs and wants of the customers so that customers
services can be improved to make the respective customers satisfied(Eriksson and et.al.,
2015).
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The process of conducting market research within Netflix
Figure:- 1
In order to conduct the market research following process is included:-
 Identify the problem:- The first step in market research process includes problem
identification where the respective objective of conducting this research is been identified
so that the major reason of doing this research is decided by Netflix.
 Develop the research plan:- The next step is to develop the plan on bases of research
problem identified by Netflix and this process includes the research methodology. Further
respective timeline and budget is decided by Netflix to carry on the research process. It
will also include data collection process and proper analysis of this data. This process
includes interview prospects or taking feedback of the customers. Netflix also conduct
surveys in order to collect the data.
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Illustration 1: process of conducting market research

 Conduct research:- The next step is to collect data with the help of customers feedback
or interviews. Data can also be collected by having different surveys. This data is than
send for the analysis.
 Analyse and report findings:- In the next step, Netflix analyse the collected information
and finds the respect opportunity and threats for its business. This analyses helps Netflix
to come to a particular decision.
 Take action:- At the end of market research respective recommendations are made for
the growth of organisation and respective decision are taken by Netflix to solve the
respective problems that organisation is facing.
The way finding of market research aids Netflix for its planning activities to market its services
Market research helps Netflix for making effective planning with respect to its services in
following ways:-
 Findings in market research helps Netflix to identify the specific problems and also
opportunities coming towards the organisation by collecting and analysing the data and
information.
 The findings help to lower the risk factors by measuring the risk involved and
implementing different decision based actions. As risk is identified effectively, it helps
the business to boost its sales and grab the potential customers. The sales increases in
short span of time with the findings as analysing the same effectively provides better
sources for Netflix to identify areas of success(Zikmund And et.al., 2017).
 Findings of market research also helps in improving the customers' relationship with
Netflix and it also involves better understanding of the target audience. These findings
can be helpful for Netflix for exploring different opportunities for its business growth and
helps in increasing the stake of its business.
 Findings of market research helps Netflix to measure its brand reputation in market with
respect to its target audience and it also helps to measure progress of the business. With
the respective findings Netflix also compare its status with the respective competitors in
market in order have different planning activities for its improvement(Lobato, 2018).
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Marketing mix with respect to new product and services offered by Netflix
In order to convince the customers for the products that Netflix offers, different
marketing mix factors are used by the organisation and are as follows:-
 Product:- Netflix is offering products with its creative selling proposition and its
products and services include chance for the customers to access different movies and
shows in order to meet customers daily needs. Netflix uses innovation strategies in order
to make the customers attracted with respect to it offerings and for the same, Netflix
provides different subscription options for the customers that is they can have online
streaming, with DVD's in order to exclude online streaming and DVD in addition to
online streaming. They also provide HD quality in their respective subscription and its
products are accessible on Xbox, play station and also with Wii. They have featured app
that is compatible with all the androids as well as Apple phones and devices(Albrecht,
2015)
 Price:- Netflix is offering value based pricing strategy that helps the organisation to
attracted its customers. For all the three subscriptions, value based pricing is different and
this strategy helps the organisation to have competitive advantage. There offer high price
subscription with more features and also low price subscription in order to earn more
profit. There are different plans that customers can choose from with different price
options.
 Place:- Netflix is providing both tangible and intangible products that is DVD services as
tangible and subscription as intangible. The online facility is provided to the customers
with the help of different multichannel distribution and it also uses hybrid channel if
services are not directly distributed. There are many companies from which Netflix takes
permission in order to distribute their films to the respective customers that are interested
to watch the same. Company is using two basic distribution medium that is Hybrid
distribution system and also multi channel (Kuazaqui and Lisboa, 2019).
 Promotion:- In order to promote its products and services, Netflix use different
promotion strategies. Company promotes with different advertising medium that is either
on different social platforms or with the help of television. Company uses you tube in
order to attract the teenagers, so that they have use the services offered by Netflix.
Company is well known in global market and that is the reason it requires less efforts to
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advertise and extract its customers. Then also company is making efforts and promoting
its products with the help of different advertisement that includes pop-ups ads, banners,
hoardings as they are very attractive for the customers(Salehzadeh, Jamkhaneh and
Doosti, 2019).
Different reasons of targeting customers with different marketing activities of Netflix
It is very important for the organisation to target its customers with the help of effective
marketing activities as it helps in growth of Netflix in following way:-
 It helps in making wise media buying decision:- These marketing activities helps the
organisation to decide which media will be best for the company to promote its products
and services. It also helps Netflix to analyse the buying behaviour of consumers in order
to provide the respective services that they are actually in need of(Deepak and
Jeyakumar, 2019).
 In order to generate innovative products:- Targeting the customers with different
marketing activities also helps Netflix to come with innovative products and these
products are helpful in attracting different market segments.
 Competitive advantage:- These marketing activities helps Netflix in bringing
competitive advantage with effective product offerings as it helps to bring innovative
products for its customers(Ascarza, 2018).
The way these activities tailored to target market with the use of different technology
These activities tailored to target market with the use of technology in following ways:-
 With the help of technology, Netflix can invent its products and services that can bring
competitive advantage for its firm and the marketing activities can be enhanced with the
help of new technology. It becomes easy for Netflix to target the market with these
innovative products.
 With the help of technology, different products can be promoted in an effective manner
to the customers and it also helps in increasing the reputation of Netflix in market. As
reputation increases, it becomes easy for the company to target its customers.
 It becomes easy for Netflix to handle the customers complaints as technology provides an
effective medium for the same. There are many distributions channels that work
effectively with the help of technology and reduce the time for making the services
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available to the customers as it become fast to provide the services as it quickens the
cycle.
CONCLUSION
From the above study it is been concluded that there are different benefits of conducting
market research for Netflix and market research process is beneficial for the organisational
growth. Report also concludes that finding of market research aids Netflix for its planning
activities with respect to its offerings. Report also concluded that marketing mix is helpful for the
organisation for identifying its valuable resources. Report also concludes that there are different
reasons of targeting customers with different marketing activities of Netflix and these activities
tailored to target market with the use of different technology.
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REFERENCES
Books and Journals
Albrecht, S., 2015. Der Marketing-Mix als Erfolgsfaktor für Subscription-Video-on-Demand in
Deutschland: eine Analyse am Beispiel von Amazon Prime Instant Video, Netflix und
Maxdome.
Ascarza, E., 2018. Retention futility: Targeting high-risk customers might be ineffective. Journal
of Marketing Research. 55(1). pp.80-98.
Deepak, R.K.A. and Jeyakumar, S., 2019. Marketing management. Educreation Publishing.
Eriksson, K. and et.al., 2015. Experiential knowledge and cost in the internationalization process.
In Knowledge, Networks and Power (pp. 41-63). Palgrave Macmillan, London.
Kotler, P. and et.al., 2015. Marketing. Pearson Higher Education AU.
Kuazaqui, E. and Lisboa, T.C., 2019. Marketing: The Evolution of Digital Marketing. Archives
of Business Research. 7(9). pp.89-96.
Lobato, R., 2018. Rethinking international TV flows research in the age of Netflix. Television &
New Media. 19(3). pp.241-256.
Quinlan, C. and et.al., 2019. Business research methods. South Western Cengage.
Salehzadeh, R., Jamkhaneh, H.B. and Doosti, S., 2019. The effects of internal marketing mix on
performance in a healthcare context. International Journal of Business Innovation and
Research. 18(2). pp.167-186.
Zikmund, W.G. And et.al., 2017. Marketing Research: Asia-Pacific Edition. Cengage AU.
Online
Process of conducting market research. 2019. [Online] Available Through
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