International marketing strategy Assignment Sample
Introduction
Marketing strategy is important to uplift a company’s brand image and gaining business growth through expanding business through using different channels. Therefore, international marketing strategy of Netflix is to increase sales in Brazil, which has been mentioned in this report. This study is going to discuss different current marketing strategies of Netflix and ways this company can increase sales in Brazil through understanding this company’s competitive advantages. Therefore, incorporating different aspects of marketing strategy by aligning with marketing audit is to discuss ethical views of this company.
Marketing audit approaches
Figure 1: Aspects of Marketing audit approaches
(Sources: Influenced by Cahya, 2019)
There are different types of marketing approaches that are taken by marketing audit officers therefore, it is effective in complying with different perspectives. Though, there is immense pressure on Netflix for their ethical concerns to increase sales and achieve positive income from increasing customer activities in their company (Lobato and Lotz, 2020). Thus, marketing audit approaches that are taken by Netflix have been considered very high grounds. Netflix has been accumulating different aspects of marketing approaches to provide their ethical structure and showcase their validity in legal ways to collect payments.
Marketing audit approach first overlooks marketing objectives that have assisted in developing better sales structure in a company. Therefore, it can be said that there is effective infrastructure of delegating different aspects in redefining each culture that is presented to deliver new films every week ethically (Cahya, 2019). Thus, next step is to create a customer persona, which is done by Netflix effectively throughout their development of application process. However, there are throttling problems that are faced by Netflix, which is considered reducing quality of users. Therefore, quality is creating problems through developing mobile data caps that have assisted in developing better infrastructure.
Customer persona is maintained throughout Netflix’s business and comparing preferences of customers is a very high command of this company. As opined by Lee and Park (2021), customer persona is different segments of customer segmentation, which allows a business to understand and review different key traits of a business. This would help in influencing a lot of customers thus, there would be increase of sales and customer segmentation of business. Therefore, customer persona is important for Netflix as their films and series are selected throughout considering customer preferences.
Netflix has a target market for all age criteria but there are younger generations that are using this application more than any other age group. Therefore, Netflix started targeting more youngsters and started choosing their film preferences according to youngster choices (Steck et al. 2021). They also target tech loving people that are constantly using any sort of application towards developing better criteria on allocating different jobs. Therefore, it can be that Netflix have been understandable throughout developing better criteria of films and series by considering their preferences through developing a customer persona. Based on analysis of Lotz (2021), Netflix did a survey to understand customer segmentation so that there is evaluation of different sports of data. Therefore, customer persona helps Netflix to achieve their marketing audiences. Thus, it can be said that there is specific marketing strategy of Netflix, which allowed them to become one of leading entertainment companies in world.
Marketing Strategy
Netflix needs to start showcasing movies that are much underrated and are watched by very few people. However, it would create a good image of this company to have movies that are underrated to target people from different sectors. Therefore, it can be said that marketing strategy of Netflix has given them huge marketing scale and increased sales through their low cost strategy.
Market Audit
External Environment: PESTLE
| Factors | Aspects | Impacts | |
| Political | Unstable Brazil government | Entertainment industry has been able to get high marketing statistics in Brazil but it has failed in developing a good application. Thus, Netflix would be able to increase sales in Brazil as there is no competition. | Positive |
| Guidelines of Brazil on entertainment industry | Price is high in Brazil’s infrastructure of developing better infrastructure. Therefore, it can be said that irregular guidelines in Brazil can create obstacles in creating a better entertainment industry through Netflix. | Negative | |
| Economical | GDP rate is 0.81% in 2021 | Innovative entertainment industry ideas are declined because of high prices. Therefore, Netflix can provide more services with high range prices. | Positive |
| Inflation rate is high at 8.22% in 2022 | Price of products is high and so is entertainment industry’s application structure. Therefore, there is a scope in increasing sales of Netflix through high range prices of applications. | Positive | |
| Social | Gender equality at 0.69% in 2022 (STATISTA, 2022) | Gender equality in Brazil is very less thus, women are less likely to have same opportunities as men. Therefore, Netflix would have fewer chances in increasing sales as there would be no gender equality in working environment. | Negative |
| Unemployment rate at 14.4% in 2022 (MACRO TRENDS, 2022) | Due to unemployment rate is high in Brazil, Netflix would be able to take advantage of Brazil’s entertainment industry further and hire people that are skilled with technologies. | Positive | |
| Technical | Customer service | Customer service is ineffective in Brazil as entertainment industry is not electable and it is not highly detectable. Therefore, it can be said that there are effective chances throughout developing better criteria on entertainment industry. | Negative |
| Weaker technological advancements | Weak technological aspects would create barriers for Netflix to increase their sales as this country’s technological advancements are not strong. Therefore, entertainment industry of Brazil was not able to make advancements effectively. | Negative | |
| Legal | “Media and Entertainment Law” (THE LAW REVIEWS, 2022) | This law is supposed to increase entertainment industry of Brazil to get more advancement, therefore, Netflix has a scope in delegating that there would be an increase in sales of Netflix. | Neutral |
| Environmental | “Environmental
Information Act, 2019”
|
Using legislation of environment law in Brazil, Netflix was able to promote their sustainable causes in their company, which would be very helpful in increasing sales for this company. | Positive |
Table 1: External Environment analysis of entertainment industry of Brazil
(Sources: STATISTA, 2022)
Internal Environment: SWOT
| Strength | Weakness |
| ● Brand reputation is strong therefore, Netflix has top rated movies and series in their television programs.
● Netflix has a global presence and this company was able to exponential growth in this company (Jones et al. 2019). ● Therefore, it would be essential for Netflix thus, it can be able to understand that there is huge influence of customer, which has given many scopes for this company. ● Adaptability of this company is high therefore, it can be understood through different criteria that there is inclusion of different aspects, which would create different infrastructures. |
● Limited copyright is one of negative aspects of Netflix, which creates tolls in company’s revenue.
● Lack of originality in several other regions, which creates issues in increasing demand for this application (NETFLIX, 2022). ● Thus, there is very little demand for high range prices in several countries. ● Also, this company totally focused on their North American facility and its subscribers, which is mostly this company is dependent on. ● Netflix lacks in their customer care employees, therefore, it creates barriers in providing effective services and it decreases customer satisfaction. |
| Opportunity | Threats |
| ● Netflix has a positive brand reputation, which creates great scope for Netflix to be able to deliver effective services for demand in OTT platforms.
● Therefore, Netflix only content in other product lines thus, there is new adaptation of video games and comic books through developing great motion pictures for this company. ● As opined by Pilipets (2019), Netflix would be able to strengthen their subscribers by entering into a partnership with local market. Therefore, it would be helpful for customer all around places to effectively get services from this application. ● This company also has scope for working on new concepts that are better than other entertainment platforms. Therefore, this company would be able to provide effective services through customer services. |
● COVID-19 created a barrier for original movies for Netflix, therefore, there was a great in not being reliable at this time during pandemic.
● Reproduction of shows cost a lot of money thus, there was huge loss of Netflix during times of pandemic. ● Government regulations of several countries creates a brazier in expansion of this company, thus, it creates problems in reaching audiences through developing better movie structure of this company. ● Content piracy is a major problem that Netflix is facing currently, which is creating huge issues and people prefer to watch movies or series without paying any company. ● There is also another reason Netflix has decreased number of customers because sometimes one customer is sharing their Netflix account with many people. Thus, it is a loss for company. |
Table 2: Micro factor analysis of Netflix
(Sources: NETFLIX, 2022)
Marketing literature
Figure 2: Aspects of marketing mix
(Sources: Influenced by Lim, 2021)
Marketing mix is holding different aspects on differentiating on different aspects of creating marketing advantages of a company. Therefore, it can be understood through development through understanding different aspects that are important in marketing strategy of a company (Lim, 2021). Thus, promotion of marketing mix is chosen for this study that it can use in developing better criteria on Netflix to increase their sales.
Promotion
Promotion is important for Netflix to be able to uplift their inclusion through developing better infrastructure that this company would be able to increase their sales through influencing customers. Promotion is good for Netflix as it would assist in attracting more customers with their sustainable views on company. Thus, it would be helpful for this company to develop better infrastructure as it would assist in improving their customer services by cleaning doubts and queries.
Conclusion
Netflix has potentiality in improving on their customer services through hiring different employees that would be excellent in their skills. Therefore, it can be said that there is exclusion through delegating different aspects of undiscerning that Netflix can improve. Customer service is important in creating a positive reputation of a company therefore, it is understandable that effective customer services assist in developing better infrastructure of this company. Netflix is a huge OTT platform and it provides great preferable movies, which would give an understanding through delivering different notions.
Thus, Netflix would be able to create different manufacturing styles for understanding customer segments and choosing movies accordingly, which creates positive feedback from customers for this company. Promotion is beneficial for marketing strategy as it would assist in expanding into other countries. Therefore, it would assist in developing better infrastructure and it would be beneficial for this company to uplift different criteria as it would assist in developing better infrastructure. As it would be understandable towards creating more effective criteria is to concentrating on company. This would assist in creating moral criteria of developing different aspects thus, it would be beneficial for this company to be able to develop better infrastructure. Different types of promotion techniques would be able to understand different criteria on different aspects and it has given understanding towards different collections through creating different promotion skills.
Marketing mix in promotional criteria that has assisted in developing better infrastructure, it would be beneficial as it has given a lot of scope for Netflix to be able to satisfy customers with their preferences being considered. It has been able to confirm that there are differences and that it has created a great criterion on delegating different aspects. It has created more effective criteria on delegating different opinions of people. Therefore, Netflix wants to be able to understand that there are different sources, which would assist in considering different aspects of creating more audience attraction. Netflix has created scope on delegating different criteria on different movie platforms, which would be able to give an understanding that it would give an understanding that it has given an insight through delegating each aspect. Therefore, it is essential for other companies to secure their data and correct their strategies to be able to construct different values of this company. Netflix has fresh views of differentiating different criteria on movie catalogues, which has impressed customers and their production has created many efficient series that have delighted a lot of people all over regions.
References
Cahya, A.D., (2019). Marketing Audit: Does It Affect Marketing Planning and Marketing Effectiveness in the Sales Function?. Sustainable Business Accounting and Management Review, 1(2), pp.93-100.
Jones, J.P., Thomas‐Walters, L., Rust, N.A. and Veríssimo, D., (2019). Nature documentaries and saving nature: Reflections on the new Netflix series Our Planet. People and Nature, 1(4), pp.420-425.
Lee, S.Y. and Park, D.H., (2021). UX Methodology Study by Data Analysis Focusing on deriving persona through customer segment classification. Journal of intelligence and information systems, 27(1), pp.151-176.
Lim, W.M., (2021). A marketing mix typology for integrated care: The 10 Ps. Journal of Strategic Marketing, 29(5), pp.453-469.
Lobato, R. and Lotz, A.D., (2020). Imagining global video: The challenge of Netflix. JCMS: Journal of Cinema and Media Studies, 59(3), pp.132-136.
Lotz, A.D., (2021). In between the global and the local: Mapping the geographies of Netflix as a multinational service. International Journal of Cultural Studies, 24(2), pp.195-215.
MACRO TRENDS, (2022). Brazil Unemployment Rate 1991-2022. Available at: https://www.macrotrends.net/countries/BRA/brazil/unemployment-rate [Accessed on 7th October, 2022]
NETFLIX, (2022). What is Netflix? Available at: https://help.netflix.com/en/node/412?ui_action=kb-article-popular-categories [Accessed on 7th October, 2022]
Pilipets, E., (2019). From Netflix streaming to Netflix and chill: The (dis) connected body of serial binge-viewer. Social Media+ Society, 5(4), p.2056305119883426.
STATISTA, (2022). Gender gap index in Brazil from 2016 to 2022. Available at: https://www.statista.com/statistics/800205/brazil-gender-gap-index/#:~:text=In%202022%2C%20the%20overall%20gender,the%20same%20opportunities%20as%20men). [Accessed on 7th October, 2022]
Steck, H., Baltrunas, L., Elahi, E., Liang, D., Raimond, Y. and Basilico, J., (2021). Deep learning for recommender systems: A Netflix case study. AI Magazine, 42(3), pp.7-18.
THE LAW REVIEWS, (2022). The Media and Entertainment Law Review: Brazil. Available at: https://thelawreviews.co.uk/title/the-media-and-entertainment-law-review/brazil [Accessed on 7th October, 2022]
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