Netflix Marketing Mix

Netflix Marketing Mix

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November 13, 2010

Netflix Marketing Mix

Marketing focuses on market plans and strategies successfully to implement promoting products or services of a business. Marketing strategies are aimed at the business’s target market and play a major role in the marketing mix.

The marketing mix has four essential elements, which are product, place, promotion, and price. The first element is the product and outlines the concept of the product for the designated target market. The product may not always be a tangible product but an intangible product like a service. A good product markets itself when it benefits the customer. In marketing a product, the marketer needs to be aware of what distinguishes the product from other similar products on the market. When designing a product, factors to consider are demand and appeal of the product to the target market. Coinciding with the design of the product is the packaging. Product packaging must be appealing to the eye of the consumer so that it entices him or her to buy the product.

The second element in the marketing mix is place. Appropriate placement for a product is important. Finding a niche for the product in the marketing place to expect to find the consumer and subsequently, where the sale happens. By knowing this place, a marketer must decide which distribution channels to use to reach its consumers. Place influences decisions that involve positioning the right product to the right place. Additionally, a product is not good to a consumer if it is not available when it is in demand.

The third element in the marketing mix is promotion. Promotion is marketing the product’s target market by pitching to the consumer that the product fulfills his or her needs. There are many elements in product promotion such as direct marketing, mass media marketing, electronic media marketing, and sales marketing. The main purpose of promotion is to influence the consumer’s behavior to buy the...