Strategic Marketing Plan for Netflix in the UK

1.0: INTRODUCTION

Requires you to produce a strategic marketing plan for Netflix in the UK. This will entail a deepening and widening of the learning by utilising a wide range of analytical tools relating marketing strategy specifically.

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2.0: THE INIVIDUAL EXERCISE – A STRATEGIC MARKETING PLAN

The main part of the plan will focus upon the organisation’s marketing strategy for the forthcoming planning period. The strategy is to be set out for the next 5 years.

A critical requirement is that the plan should read as a seamless, integrated document. Undertaking a strategic planning exercise is an iterative process and you should aim to build it up via your research gradually. It is important to ensure that everything fits together into an integrated whole to arrive at a strategic marketing position.

4.0: GENERAL REQUIREMENTS FOR THE PLAN

The core of the plan should be the marketing strategy of Netflix UK for the 5 year period. The emphasis should be on the specific actions to be undertaken over the five years to achieve your clearly stated objectives.

Although you will undertake the usual environmental, SWOT and competitor analysis, do not get bogged down in this area of analysis as this can be extended

ad infinitum. Any information here must be relevant, so resist the temptation to pad the text out or introduce content that is not directly related to answering the requirements of the Assignment Brief.

Resist also the temptation to download large amounts of material from sources such as IBIS World and simply inserting it into your plan. Marks in particular will be awarded for real insight and critical appraisal of the strategic marketing issues that are impacting upon Netflix.

Focus therefore on the things that Netflix should be doing in the forthcoming five-year period to enhance its strategic marketing position.

5.0: Netflix

Netflix is one of the world’s most recognisable brands and has enjoyed strong commercial success since being founded in 1997. The company however is operating in a rapidly changing market; one that is presenting real, strategic marketing issues. You are required therefore to produce a strategic marketing plan for its UK operation based on the entertainment sector and current changing market dynamics for Netflix over the next five years.

The world of entertainment is undergoing fundamental change. This is being driven by the impact of digital which is altering the production, distribution and marketing of entertainment products.

You should start by analyzing market and consumer dynamics in the entertainment sector in general. Read about and consider carefully the concept of “value” and how the “needs” of consumers and the way they are buying entertainment products is changing. Of increasing influence also is the desire and ability of customers to consume entertainment via digital platforms and receive more personalised forms of entertainment product. Read about the background to the company’s strategy of initially simply distributing and streaming of Film and TV content. Ask yourself what Netflix’s initial value and marketing proposition was.

The module is entitled Marketing Planning & Strategy. Therefore, you are seeking to analyse, evaluate and understand the current performance of Netflix in the light of changing market and consumer dynamics overall. Doing so will assist you in determining what strategic marketing direction Netflix UK should seek to adopt now and what its strategic marketing plan should constitute.

Asking the three key questions of: where have we come from, where are we now, where are we going? provides a useful framework/process in achieving this.

For many years’ major entertainment companies such as Disney, Warner Bros and Sony enjoyed strong market growth and high profitability by controlling the supply and value chains for Film and TV. Of significant importance strategically in the entertainment sector is size or “critical market mass” to mitigate the risk of developing entertainment content and products. The inability to accurately predict the potential success of a Film or TV franchise, means entertainment conglomerates, such as those mentioned above, need to produce a minimum amount of content. This is to not only to produce “winners” per se, but so that the successes cover the cost of the inevitable failures. For these reasons, the entertainment sector has historically been characterized by vertical integration and consolidation. This has seen companies like Disney develop and operate their own production, distribution, marketing and retail operations. From a strategic marketing perspective ask yourself why?

Finally, in the light of current market conditions, analyse, appraise and explain why the up-until-now highly successful marketing proposition of Netflix may need to change strategically. Netflix has moved into production to produce their own constant content stream a while ago now and have produced “winners” such as The Crown and Ozark. Is this strategy sustainable or does it need to further change?

The core subjects that we will be covering throughout semester will be relevant and applicable here. In particular, you should consider Chapter 7, Strategic Market Choices and Innovation from Nigel Piercy’s text Market-Led Strategic Change. Among some of the key areas that are particularly relevant are:

· Market Definition;

· Mapping Market Structure and Change;

· Strategic Market Segmentation and Targeting: Broad Segments and Micro-Segments;

· Market Positioning: Red and Blue Oceans;

· Complementary Products;

· Market Choices.

Please note that you are not required to produce a Marketing Mix component per se as part of the Strategic Marketing Plan. You may feel the need however to refer to parts of the MM if they are an important part of marketing strategy. For example, with price, is Netflix UK able/does it need to elevate or lower its strategic price positioning over time?

Start reading up immediately about the entertainment sector by reading reports and news as it appears in the serious press, i.e. The Financial Times, The Economist and the broadsheet papers. This will enable you to gain a feel about the dynamics driving the sector and why Netflix UK may have to further evolve from a strategic marketing perspective. Market reports such as IBIS World can be highly beneficial and you may also find it helpful to look at other sources such as the Netflix website.

Understanding how Netflix has developed and evolved in the UK up-until-now will provide invaluable insight and information into possible strategies going forward, i.e. “where are we going?”

6.0: Plan Length and Mark Allocation

Your plan should be no more than 3000 words long excluding appendices . This means that the core of the plan should be around 20 pages long. Pages should be spaced for readability and contain tables and figures. Please ensure that you effectively use paragraphs to demarcate new sections and key points It is the content – and above all the insight – that counts. Please ensure you respect the word count.

The total mark will be distributed as follows:

· Evidence of understanding and appropriate use of the frameworks, concepts, and methods of marketing strategy and planning covered during the module

· The depth of thought, quality, originality, consistency, and completeness of the strategic marketing plan. There should be evidence of critical appraisal.

· Evidence of extensive and appropriate field and academic research to support recommended strategy

· Structure and Presentation – including layout, tables & figures and written style,

Above all marks will be given for critical and incisive insight and appraisal of the issues that Netflix UK are facing in the light of current market changes/dynamics and the marketing strategy that can ensure it remains successful going forward.

In particular, I am looking for evidence of strategic marketing literacy and real insight and understanding of Netflix UK’s current marketing position. In addition, what should it do to evolve strategically in the light of the fundamental, ongoing changes underway in the entertainment sector. Please ensure that the concepts and theory you utilise are based on Marketing not Business Strategy.

NOTES:

You can take any position you want providing your explaining and justifying.

Try to do an Analysis of Netflix and what their strategy now.

· Key things: what’s happening in this market? (Netflix). CRITICAL EXPLAINING THE ASSIGNMENT

· What consumer needs that make them satisfy?

· Why did this company become so successful?

· Where is Netflix now, how good is going to be ?

· Fundamentals dynamics change (where is going to be? Is it can stay the same or will change to different perspectives?)

· Concept

· What sort of value does Netflix offers to the consumers?

· Conclusions need to be recommendations for NETFLIX as a bullet point

· Harvard references

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