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For this discussion post, I chose one of the most famous companies across the globe: Netflix. This streaming company is known for its innovative approach to entertainment, which includes content personalization, close relations with studios that produce new products for viewers, and strong brand equity (Sadwick, 2019). With a goal to replace linear television completely, the company continues to expand its reach and regularly targets new markets where it can establish a strong presence ( Long-term view, n.d.). Netflixs recent developments allowed the company to acquire new films and series and invite new audiences to their platform ( Long-term view, n.d.). While Netflix aims to expand globally, it possesses a strong presence in the United States streaming services market.
The current target market for the company includes people between 18 and 49 age regardless of their income or region. However, the primary viewers are young adults from the United States, although the company began investing heavily into global expansion and explores new ways to attract older adults (Sadwick, 2019). Content diversification allows the company to appeal to the most intricate interests, and Netflix continuously develops new ways to add new titles to its list ( Long-term view, n.d.).
Despite its apparent overall success, the firm faces issues on the global market due to the lack of non-English series and films (Sadwick, 2019). The company also experiences a slowdown in its primary location, as the competitors of Netflix in the U.S. have successfully taken a significant portion of the market for themselves (Sadwick, 2019). Judging from the success of Netflixs strategy in the past, the companys willingness to explore new opportunities will be detrimental to its performance in the future.
References
Long-term view. (n.d.). Netflix. Web.
Sadwick, R. (2019). Netflix market expansion recommendations: A targeted approach to the U.S. and India. Medium. Web.
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