Question

Describe Netflix Inc's competitive position in 2-3 paragraphs. Be thorough in your answer.

Answer 1

Netflix is a subscription-based video streaming service, which shows movies, TV Shows, Documentaries etc in the Laptops, Smartphones, and TVs of customers. Over the period of the last 3-4 years, Netflix has grown its business exponentially in a market with many competitors.

Major Competitors of Netflix are:

YouTube Premium, Amazon Prime, Hot Star, etc.

What makes Netflix a priority?

1. Content is King - Netflix provides content from top-rated writers, producers, directors, and artists to its customers. It has resulted in an Award-Winning Product Portfolio of Netflix. This creates a huge competitive advantage for Netflix when compared to other content providers. Netflix is seen as a high-quality content provider from the customer's perspective. A customer knows where to find top-rated content for their entertainment.

2. Simplicity - A very simple and interactive interface of Netflix allows its users to prefer Netflix over any other streaming service present in the market. Hence, Awareness is created which is necessary for a competitive market. Netflix has also removed the online ads from its application, which leads to better customer experience. However, other providers are simply keen to sell Bluray to its customers.

3. Genres - Netflix shows the content in the form of Genre available. A user can easily access the content and hence improves user experience. This makes Netflix a priority of users over other service providers.