History

            Netflix was started in 1997 in Scott Valley, CA by Reed Hastings, and Marc Randolph. Reed and Marc wanted people to be able to rent DVDs by mail. A year later, in 1998, Netflix.com was created to rent and sell DVDs.  By 1999, Netflix started a subscription service for unlimited DVD rentals with no late fees at all and no monthly limit on rentals. In 2000, they introduced personalized movie recommendations for what people have previously ordered. In 2002 they made an IPO of $1 to market shares under NASDAQ with the ticker of NFLX. In 2008, Netflix partnered with Xbox 360, Blu-ray players, and TV set-up boxes for streaming services. From 2010 to 2016 they expanded into 130 countries with their streaming services.

Mission & Vision Statement

            Netflix's mission statement is "to provide an easy, convenient, and cost-effective way for people to access, watch and enjoy their favorite movies and TV shows". Netflix's vision statement is "to become the world's leading streaming entertainment service, offering consumers an unparalleled library of content and a comprehensive, personalized experience".

Marketing Mix

            Netflix's marketing mix includes product, price, promotion, and place. Netflix offers streaming video content, DVD rental, and other related services. It offers a variety of pricing plans to meet customer needs, such as basic, standard, and premium. Netflix utilizes various digital, print, and television advertising to reach their target markets, and is available online and on a variety of streaming devices.

Competition

            Netflix's main competitors are Amazon Prime Video, Hulu, Disney+, and Apple TV+. To stay ahead of the competition, Netflix has positioned itself as an innovative company that offers a wide variety of content, as well as the latest technology and streaming services. To further differentiate itself from its competitors, Netflix has created a positioning map that compares its services and features to those of its competitors. This helps to clearly outline where Netflix stands in comparison to its competitors, highlighting their strengths and weaknesses.

Positioning Map

           

SWOT

            Netflix's strengths include a wide variety of content, innovative technology, and a global presence. Its weaknesses include high subscription fees and a limited selection of new releases. Netflix has the opportunity to expand into new markets, develop new products, and create new partnerships, but it also faces threats from increased competition from new streaming services and the potential for piracy.

In conclusion, Netflix has established itself as a leader in the streaming entertainment industry through its mission, vision, marketing mix, positioning map, and SWOT analysis. By staying ahead of the competition, Netflix has managed to remain at the top of the streaming industry for over 20 years.