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1Running Head: Netflix Case Study: Part TwoNetflix Case Study: Part TwoAmanda GowerLiberty University – BUSI 690June 19, 2020
2Running Head: Netflix Case Study: Part TwoNetflix SummaryNetflix is the red icon whit large white letters pre-installed on every smart television across the world that allows different types of visual entertainment to be enjoyed at the touch of a button. According to Hosch (2020) Netflix, Inc. was established in 1997 by American entrepreneurs Reed Hastings and Marc Randolph with a headquarters based out of Los Gatos, California with over one hundred distributions centers by 1999 (only two years after the company’s inception). Netflix was born over twenty years ago with an alternative way of providing entertainment to people without the hassle of constantly going to a video rental store. Netflix started its’ company with not only the idea of providing in-home easy access entertainment but also strong customer service, an easy to navigate the platform and multiple options to fit various consumer needs and demands. The Netflix platform prompted the consumer to start an account online using personalidentifying information, as well as their movie genre preferences, a list of wish list movies, and billing options. The billing options contained the number of movies to be sent at a time. The movies from the wish list would be cycled through as the consumer returned the previous movies via the U.S. Postal service. Originally the offering of instant streaming was un-available so the consumer would have to update the wish list of movie preferences as new movie were released, thought of, or the consumer changed their minds as to the movies they wanted to watch. The Netflix craze caught on and took off due to the constantly increasing options of visual entertainment selections, continued technological advances, ease of use, customer support, and dedication to stay strong to their mission and objectives.
3Running Head: Netflix Case Study: Part TwoContinuous customer satisfaction due to high standards and dedication has enabled Netflix, Inc. the ability to withstand the hardships over the last twenty years and still experience steady economic growth.Mission Statement and ObjectiveNetflix now has over 180 million members with varying paid memberships in all enjoying the ability to stream an extremely large selection of visual entertainment in multiple languages. This growth is due in large part to the company’s mission statement, objectives, strategies, and business analysis.According to Farfan (2018), each entertainment retailer has a mission statement that defines a culture and experience in an effort to remain relevant and provide guidance not only in the present but also in the future. Netflix is known to have a mission statement that encompasses not only the culture or experience but also the corporate vision and values. The mission of Netflix is to not only entertain the world but to provide exceptional customer service, a valued partner experience to suppliers,