The graph shows how the number of new subscribers grew by quarter in different years.[4]
4.0 Conclusion and advice
Netflix was the first of its kind, but it managed to change its business model to suit the needs of customers. At the same time, the company's credibility has changed to cope with new technologies. Two changes were made to it in 1999 and 2007. After the launch of the video streaming service, it began to generate significant revenue for the company, which was founded in 2007. First of all, it was necessary to change the functions of the company to meet the expectations of customers. At the same time, digital adaptation should have been adopted for both employees and customers. After that, the company had to implement sophisticated features and tools to improve features, such as Netflix launching its online video streaming service in 2007. "Intelligence is the ability to change" - Albert Einstein
Netflix decided to follow the Blue Ocean strategy The Blue Ocean strategy refers to the creation of a new business market.But our team suggests switching to the red ocean strategy. There's how the red Sea strategy relates to the struggle to win over competing companies in the same market.We believe that Netflich has achieved success in its market, as it was the first in this field and now it is necessary to open new horizons in order to achieve superiority over competitors. And as an idea for expansion, the team wants to offer to expand the business in the field of video games. Not what the company used to do, making mini-games for movies or TV series, but to open a new department to create full-scale video games and make them part of Netflix subscriptions. Also, to begin with, we can do a survey and find out what kind of video game topics the audience likes. We believe that video games make a significant contribution to attracting potential customers and retaining regular customers.
Reference list
1.Drannikov, Roman. “Netflix: история одного стримингового гиганта | Кино.” Srsly.ru, 10 Sept. 2020, srsly.ru/article/show/4544/. Accessed 30 Nov. 2021.
2.Haughey, C. J. “How Netflix Is Winning at Modern Marketing.” EngageBay - All-In-One Marketing, Sales, and Service Software for Growing Businesses, 11 Mar. 2019, www.engagebay.com/blog/modern-marketing-tips-netflix/. Accessed 1 Dec. 2021.
3.Kobiruzzaman, M. M. (2021g, November 25). Netflix Organizational Change & Structure Case Study 2021–2022. Newsmoor- Best Online Learning Platform. https://newsmoor.com/netflix-organizational-change-organizational-management-change-examples/
4.Arutyunov, A. (2021). Замедление Netflix: зачем компания выходит на рынок видеоигр. [online] Forbes.ru. Available at: https://www.forbes.ru/finansy-i-investicii/435511-zamedlenie-netflix-zachem-kompaniya-vyhodit-na-rynok-videoigr [Accessed 14 Dec. 2021].
5. Moore, A. (2019). Netflix’s Generic Strategy, Business Model & Intensive Growth Strategies - Rancord Society. [online] Rancord Society. Available at: https://www.rancord.org/netflix-business-model-generic-strategy-intensive-growth-strategies-competitive-advantage.
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