Netflix Marketing Plan
Assume you have just been hired by Netflix as the Chief Marketing Officer, develop a marketing plan to be submitted to the CEO. The plan should include all components described in Appendix A, section A-5, “The Marketing Plan” in your text book. Complete sections A-5a (Marketing Objective), A-5b (Marketing Strategy), A-5c (Marketing Mix), and A-5d.
The Marketing Objective: – Targeting most of international users as much possible. This would contribute Netflix in gaining great international presence and addition in the revenue remarkably.
The Marketing Plan: – In the queue with the objectives of marketing, the marketing plan will help to find ways to target the audience internationally. For this, I would advice shrink marketing and ad spends in US in old fashioned advertising channels like television, radio, newspaper etc. Today’s youth uses mobile phones, and hence marketing efforts need to shift to smaller screens of mobiles.
Marketing Strategy: – Mobile advertising is targeted by marketing strategy as it offers direct channel to users without going through the unnecessary channels which come into play in television as the whole family watch television. Everyone has mobile phones and people use social networking. Strategies which can help to increase Netflix’s visibility among the mobile users are following
- Facebook marketing
- Adwords marketing
- Websites ads frequently visited by youth
- Direct Email marketing
Of course, the agreement has to be done upon marketing budget and the share would be among the above strategies.
Marketing Mix:-
- Product:- Netflix streaming service for movies and series would be the product
- Price:- Fixing the price would be on geographies basis depending on the competition in those geographies and the optimal price points to attract customers
- Place:- Mobile advertisement
- Promotion:- Internet marketing like Adwords, facebook, emails etc. will help in promotion.