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Netflix Goes to Bollywood
Netflix Goes to Bollywood
Strategy: Choices and Change MN6003
Contents
Executive Summary    1
Case Study Analysis    2
Recommendationscv    8
References    10
Executive Summary
In January 2016, Netflix, quite possibly the most well-known web-based medium streaming and creation companies, joined the Indian market. Netflix, then again, has all the earmarks of being falling flat in India, a country with a tremendous populace and more than 500 million internet endorsers. Because of the presence of prevailing competitors (which incorporate huge Indian media and creation companies), a multilingual amusement market (clients with explicit necessities), a value touchy populace, and different elements, vital inquiries have emerged regarding whether Netflix can get by in India by acquiring an adequate traction or then again on the off chance that it will be compelled to exit. Netflix utilized powerful procedures to help them get into the Indian market.
Since smartphones represent 60% of India's internet supporters and internet speed is one of the nation's significant difficulties, the information saving choice on the portable Netflix App got a positive reaction from smartphone clients. It additionally started buying neighbourhood studios, which helped with its entrance into nearby markets and brought about an increment in Indian substance that drew the consideration of numerous web-based video web-based clients. Likewise, the one-month free preliminary was a brilliant marketing strategy that permitted the vast majority to acquire a feeling of what Netflix brought to the table in comparison to its competitors.
Netflix might profit from the dynamic change in Indian watchers' inclinations toward worldwide material and Western culture, as well as the persistent advancements in innovation in the high velocity internet area. In any case, it should consider the way that India is a value delicate market, with strong competitors like Amazon, Hotstar, Eros, and Sony offering their items at essentially lower pricing. Netflix ought to adjust its pricing appeal to Indian clients, even at the danger of weakening its premium image, to draw in a far more prominent number of consumers, especially smartphone clients, in a rich market like India.
Introduction
To start with Netflix's brief history, it was started in 1997 by Reed Hastings and Marc Rudolph for clients in the United States. Previously, the company rented movies to consumers by mail as DVDs or through an online platform where they could conduct transactions. Hastings got the idea for Netflix because he was fined $40 because of not returning the film "Apollo 13" on time. Hastings was unsure how well the service would be received by the clients. Netflix's internet streaming service spread to numerous additional American nations in 2010, including Canada and South America. With 'LilyHammer,' Netflix entered the content creation sector in 2012. Netflix had no choice but to move on from there. Netflix was well-received wherever they began their activities. They also featured high-quality material tailored to the locations in which they functioned. Netflix now has a number of 'Netflix Originals' available in its video streaming collection. Netflix is based in Los Gatos, California, and has around 148 million paying subscribers across the world. With the exception of China, North Korea, Iran, and Syria, Netflix is accessible in most nations throughout the world.
Industry Analysis
First and foremost, Netflix intended to compete in India's membership video-on-demand market. Following that, it is vital to identify the major patterns that underpin the country's multimedia market. The first trend is due to the market's originality. Because there were so few industry competitors, it was relatively simple for new firms, such as Netflix, to come into the market. The second market trend indicates a phenomenal increase in the popularity of online video-on-demand and, as a result, in the profits of the participants. Hotstar and Eros Now were the two main companies on the marketplace. The notion that Hotstar has been able to make its unique material available on a variety of technical platforms and devices is a fundamental strength of their business strategy. Hotstar's biggest flaw, on the other side, derives from the fact that it does not create its own unique material. At the very same time, Eros Now's strength and winning mentality came from the fact that it was creating its own original content. The group's problem, on the other hand, is its failure to transfer its content-free users into regular consumers.
Uniform Strategy
Netflix's uniform strategy assures that the business model has enough competitive advantages. External competitive elements such as Walmart, Amazon, Google, Apple, HBO, Disney, and other companies are balanced by the company's nature and profitability. By facing these external pressures, Netflix's intense expansion plans encourage market success. They plan on introducing series and other interesting short films and videos that will be exclusively found on Netflix. Some will be for free trials so that the viewers can catch a glimpse and their interest in heightened. These development methodologies conform to the standard market strategy and model, ensuring operating productivity and the benefits of the product's competitive advantages (Kumar et al., 2020).
Netflix's Business Models    Comment by Edu Emeka: Reference needed for this diagram. Proper referencing
Figure 1: VRIO Analysis for Netflix (Medium, 2020)
Despite increased competition, Netflix Inc.'s fundamental qualities sustain corporate viability. In the context of the VRIO / VRIN study, these competences show the online company's resources and skills that enable long-term competitive advantage. Netflix's value chain makes use of these essential capabilities to provide efficient services to customers and subscribers (Samy, 2021). The elements that contribute to the key competences important to the strategy implementation fluctuate as Netflix's plans evolve.
Netflix’s Generic Competitive Strategy
Figure 2: Netflix’s Generic Strategy (Source: Rancord, 2019)
Cost Leadership.
In Michael E. Porter's model, Netflix's general strategy is cost leadership, which secures competitive advantage. With this uniform strategy, Netflix is getting more customers in the online entertainment business. Netflix's aggressive expansion ambitions, which focus market penetration, coincide with this classic strategy particular approach (RAZA). The strategy is based on the firm's operations and value.
Differentiation
Netflix uses economies of scale as a primary strategy for gaining a competitive advantage. Diverse activities are also used by the organization. Netflix, for...