Netflix's Growth Stage: Utilizing Marketing Mix to Expand and

1 4-2 Milestone Two: Brand Growth NETFLIX Donya Parsa Southern New Hampshire University MKT 400 Professor Upshaw March 28 th , 2023
2 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 1. 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. 2. 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). 3. 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.
3 4. Promotion: Netflix utilizes a combination of branding, social media, and public relations to promote its brand and content. The company often uses a unique material to encourage buzz and word-of-mouth marketing. Marketing mix impact on brand perception : Netflix's marketing mix has substantially affected the brand's reputation among customers. The brand's emphasis on unique content has helped it stand out from competitors and develop a strong brand identity. Netflix responds to the varying demands of its users by offering several subscription options and has built a devoted client base (Rataul et al., 2018). Furthermore, the brand's online presence and usage of social media have aided it in connecting with customers and efficiently promoting its services. The streaming service's quality and breadth of content have contributed to a strong brand perception, resulting in higher user numbers and income. Internal stakeholders' roles in the growth stage : Internal stakeholders, such as sales and brand managers, are crucial during a brand's growth stage. Sales teams are in charge of increasing the number of customers by finding new markets and establishing efficient sales techniques (Netflix, 2022). In contrast, brand managers design and implement branding strategies that promote the company's identity and values. Brand managers are crucial in generating unique content and advertising it to attract and keep customers at Netflix. Sales teams work to broaden the brand's reach by increasing distribution channels and exploring new markets. The importance of internal and external stakeholder participation in the growth process : Internal and external stakeholder interaction is crucial to a brand's growth process. Employees and managers, for example, are responsible for fostering the brand's growth by
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