Netflix's Growth Stage: Utilizing Marketing Mix to Expand and Differentiate
Netflix is a streaming service that offers movies and television episodes on demand. It
has evolved into a worldwide brand, with over 200 million users in over 190 countries. In this
research, I will look at how Netflix utilizes the marketing mix to separate itself from rivals, the
influence of the marketing mix on overall brand perception, and the responsibilities of internal
stakeholders in this brand stage (Netflix, 2022).
Growth stage characteristics
Increased sales, growing earnings, and introducing rivals define the growth stage. The
brand has established its market position and wants to expand its consumer base. In this stage,
the brand may improve its product or service offerings, expand into new areas, and expand
distribution channels to reach new consumers (Varadarajan, 2018).
The Netflix 4Ps
Product: Netflix is a subscription-based streaming service with access to an extensive
collection of movies and television series. The company has also created original material,
such as the hit shows "Stranger Things" and "The Crown." Netflix distinguishes itself from
rivals and enhances its brand identity by generating unique content.
Price: Netflix provides three different membership plans, each with different pricing
depending on the number of screens a consumer may watch simultaneously and the video
quality. The brand employs a value-based pricing approach to target its clients based on their
requirements and willingness to pay (Bobmanuel, 2022).
Place: Netflix is an internet streaming service that computers, cellphones, and intelligent
Televisions may access. In addition, the brand has worked with numerous cable and satellite
providers to offer its service in conjunction with other benefits.