Elements of a Marketing Plan Report
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MKT/421
April 13, 2016
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Elements of a Marketing Plan Report
In this day and age marketing strategies must keep up with the changing time in technology and how society sees the world in order to stay relevant. Marketing is a business technique used by companies to maintain, satisfy, and make a profit from their customers while staying successful. The company chosen to be discussed in this paper is Netflix. First, this paper will explain the specific key environmental forces created for opportunity for the company. Second, it will discuss five environmental forces and trends to influence the company’s marketing efforts and future product offering. Then, this paper will explain what differentiation strategy the company should undertake to encourage their target market over other competitors. Lastly, it will analyze lessons learned from the Geek Squad case study.
Environmental Forces Netflix is a DVD rental and online streaming service. The key environmental force created for the company when they first started out is the DVD mail service. Before there was Netflix, customers had to go to rental stores such as Blockbuster to rent movies. One issue that customers would have is the stores running out of the movies they wanted or possibly not even carrying those movies to begin with. Shipping the movie gives customers more time and takes less energy than having to drive to the store to pick out what movies they want to watch. The founder of Netflix, Reed Hastings, foresaw the potential in the rental industry when he started the company. When Netflix first start they were only offered movies through the mail, but by 2007 they added online streaming to their services. Adding the streaming service created a huge opportunity for Netflix to succeed in the movie rental business.
Purchasing Patterns