What is Netflix's strategy?
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Netflix's strategy involves several key elements. Firstly, they focus on achieving competitive advantage by using a SWOT analysis to assess internal strengths and weaknesses, as well as external opportunities and threats . Secondly, Netflix has a glocal strategy, which involves the global distribution of non-English language TV shows to reach a diverse audience. This strategy is supported by big data, content indexing, user monitoring, and actions taken in project development, audience prototyping, distribution, language, marketing, recommendation algorithms, and social conversation . Thirdly, Netflix utilizes social media to build relationships with customers and understand their preferences through data analysis. They maximize user data to tailor content and enhance user experience . Additionally, Netflix analyzes the streaming market globally, using big data and precise identification of "problem markets" to drive success. They aim to stabilize their global position by expanding quality content, feature innovation, and attracting new subscribers . Finally, Netflix's promotional strategy involves leveraging social media to increase viewer interaction, disrupting the business model, creating a recommendation system, and developing original content .
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| Papers (4) | Insight |
|---|---|
| The paper discusses Netflix's promotional strategy, which includes using social media to increase interaction with viewers and the development of original content to attract new subscribers through innovation. | |
| The paper discusses Netflix's strategy in a global context based on the BCG Matrix. It highlights the importance of big data and identifying "problem markets" for Netflix's success. It suggests that Netflix needs to stabilize its global position by expanding quality content, feature innovation, and attracting new subscribers through price positioning, localization, and a new field-gaming. | |
| The paper discusses how Netflix utilizes social media to build relationships with its customers and maximize user data to understand their behavior. | |
| The paper discusses Netflix's glocal strategy, which involves using big data, content indexing, user monitoring, and diverse actions in project development, distribution, marketing, and recommendation algorithms to popularize non-English-language TV shows worldwide. |
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