globalized service is offered thus their brand is recognized internationally whereas Crave is only known to Canadians. Furthermore, crave needs a distinctive brand aspect which is coordinated with their logo in order to differ them from other brands. For example, their biggest competitor Netflix has a globalized “N” symbol which is recognized internationally along with the “diddum” sound which is heard when the program is first started whereas Crave lacks in these areas. Opportunities The current state of Crave leaves them with room for an abundant amount improvement thus opportunities for them are at an all-time high. The biggest opportunity for crave for the time being is for them to expand their company on a global scale rather than just staying put only in Canada. The international recognition that this move provides will be what elevates this company from one level to another. Furthermore, if crave is able to develop some sort of distinctive marketing slogan or trademark, it may aid in the promotion process of the expansion of their service. CraveTV needs to develop a marketing strategy that will allow the company to build its reputation, as well as, grow its overall market share. Therefore, with the intent to develop as a business, CraveTV will move forward in working closely with an external
resource such as a marketing agency to ensure a successful future for its online streaming service. Threats Ultimately, CraveTV’s biggest current threat is their competitors such as Netflix and Amazon Prime video for the sole reasoning that they are already established brands which have received recognition form consumers on a global scale. If we take a look at the current market share within the streaming industry within Canada, Netflix currently has approximately six million total subscribers in Canada alone and an estimated ninety-five million subscribers worldwide (Smith, 2017). Nonetheless, CraveTV has some work to do however, it is extremely possible for them to attain a significant portion of the Canadian market. Through introducing
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- Fall '13
- Marketing, Streaming media, CraveTV