Choosing Reasons for Those Market Strategies
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Choosing Reasons for Those Market Strategies
All those way for reaching customers is very important for Netflix. But all of those marketing strategies should be examined for their suitability according to market and customer needs and conditions. In order to examine those criterias we need to understand positions our products in product market, buyer readiness stages and product life cycle stages.
As we mentioned above Netflix has been using push and pull strategies together and also they has been using online ways for reaching customers. There are some specific reasons for using those ways according to market needs and customer types. When readiness stages are evaluated, customers know Netflix very well and aware what Netflix can offer them as a product and brand. Because Netflix is very successfully completed their brand building stage and they built a strong relationship with their customers. That is why they mostly concentrate on their product advertisement because in rapidly changing market environment with competition between huge brands is very hard. Customers know why they need to choose Netflix products because when they make researches on social media and web sites they always see Netflix’s products and they do that for convincing customers as a conviction stage of buyer readiness. Moreover when product market evaluated we can understand why Netflix mostly use online ways for reaching their current and potential customers. Also it is very efficient channel for most of the companies like Netflix. Because most of the products or contents that Netflix produces are online purchased from online channels. But when product life cycle approach considered for choosing marketing strategies it would not be very suitable for Netflix’s products. Because Netflix’s products are very similar to FMCG products. So they consumed very rapidly even most of the people watch an entire shows in one week. So there is not and suitable product life cycle for TV shows.