CherylNoble Case Study 1 Netflix Busi 690.docx - Running Head Case Study 1 Netflix 1 Case Study 1 Netflix Group 2 Cheryl Noble Liberty University 690

CherylNoble Case Study 1 Netflix Busi 690.docx - Running...

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Running Head: Case Study 1: Netflix1Case Study 1: NetflixGroup 2Cheryl NobleLiberty University 690
Running Head: Case Study 1: Netflix2Case Study 1: Netflix Inc.Existing Mission, Objectives, and StrategiesAccording to the latest annual report of Netflix 2018, the mission statement of the company is:“Our core strategy is to grow our streaming membership business globally within the parameters of our operating margin target. We are continuously improving our members' experience by expanding our streaming content with a focus on a programming mix of content that delights our members and attracts new members. In addition, we are continuously enhancing our user interface and extending our streaming service to more internet-connected screens. Our members can download a selection of titles for offline viewing” (Netflix, 2018, para 4).Starting back several years in 2006, Netflix made a bold prediction about the business that they would grow their online streaming service by over twenty million subscribers. The following year in 2007, Reed Hastings who is the CEO stated “he believe that there would eventually be resolution for the issues of content and connectivity, allowing this market to mushroom” (Rothaermel, 2013, p. C136). Furthermore, Hasting believed the company’s sole objective and strategy should be focused on the customer and retaining them by any means. Hastings stated, “Our explicit strategy is to invest in things that are strategically relevant to customer satisfaction potential” (Rothaermel, 2013, p. C133). This then led the company into their current model and strategy of an online streaming services which now is streaming in more than 190 different countries around the world.New Mission Statement
Running Head: Case Study 1: Netflix3Netflix Inc. is a company that evolved tremendously over the last twenty-two years. It started as a DVD rental to combat Blockbuster, then a video on demand service, and now a streaming service that includes everything from tv shows and movies to exclusive content only found on Netflix. This company previous mission statement was previously stated was to retain the customers on a global scale. A new mission statement for Netflix Inc. would continue to be on the cutting edge of technology and innovation; while providing customers with user friendly features and new content for every demographic. 1.Customers: Who are the firm’s customers? Since Netflix Inc. is a global company, everyone that has a phone, computer, tablet, television, or gaming console is a potential customer for the company regardless of age. Currently there are 137.1 million Netflix subscribers globally of that roughly 78 million of them are international customers. Four years ago Netflix median age was 24-34; however, as of 2019 the highest median age which equates to 46% are between the ages of 35-54, with men being the more dominant user at 52 percent compared to women at 48 percent (Iqbal, 2019, para 16).

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