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Netflix's Marketing Mix

Netflix's marketing mix consists of 4Ps - Product, Price, Place, and Promotion. For products, Netflix is an online streaming platform that provides access to TV shows and movies. It also produces original content. Netflix uses a psychographic pricing strategy with 3 subscription plans priced between $7-12 monthly. It has a global presence available anywhere through internet access. Promotion includes online ads, promotions of new content, and a free 1-month trial period with an opt-out option.

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Zaid Zubairi
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266 views4 pages

Netflix's Marketing Mix

Netflix's marketing mix consists of 4Ps - Product, Price, Place, and Promotion. For products, Netflix is an online streaming platform that provides access to TV shows and movies. It also produces original content. Netflix uses a psychographic pricing strategy with 3 subscription plans priced between $7-12 monthly. It has a global presence available anywhere through internet access. Promotion includes online ads, promotions of new content, and a free 1-month trial period with an opt-out option.

Uploaded by

Zaid Zubairi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Netflix’s

4P’sBy:
Made Breakdown
Zaid Bin Bilal, 11-c

Marketing Mix

1
2

Netflix’s Marketing Mix


Introduction
In 2022, Netflix recorded a revenue of $31.616B, a 6.46% increase from 2021.
Since Netflix first emerged back in 1997, the brands value has steadily risen
with each passing year.
Today, Netflix stakes a claim as a leader in the mass media, technology,
&entertainment industry.
This marketing plan consists of key elements that make up the Netflix marketing
mix.
The Netflix marketing (4PS) analysis in this post gives you an insight into those
strategies adopted by this US-based company that has given it a competitive
edge over its rivals.

This Photo by Unknown Author is licensed under CC BY-NC

NETFLIX PRODUCT STRATEGY:

Netflix’s product strategy is quite simple.


Netflix is an online streaming platform that gives individuals paid access to a
wide collection of tv series and movies.
Consumers do not sign any binding contract with Netflix.
Customers can come back to Netflix whenever they like and continue enjoying
content without worrying about paying any cancellation or commitment fee, as is
the case with other similar platforms.
Netflix also engages in movie and Tv series production
Some of the popular Netflix Originals include The Witcher, Elite, Bridgerton,
Stranger Things, Half bad, Heartstopper, Emily in Paris etc.

NETFLIX PRICING STRATEGY:

Netflix adopts a Psychographic pricing strategy.


Subscribers can opt for any one of three membership and subscription plans.
As mentioned before, these include the Basic plan ($9.99), Standard plan
($15.49), Premium plan ($19.99).
The average monthly subscription payment for all three plans ranges from
USD$7 to about USD$12.
Prospective customers can decide to opt out from subscribing before the month
comes to an end, even after enjoying the services of Netflix .

NETFLIX PLACE STRATEGY:

Netflix is available to virtually every country on the planet, with a few exceptions.
Some of the restricted countries are North Korea, Russia, Syria, and Kosovo.
You can access Netflix content on your Smart TV, PC, phones, and tablets.
The internet offers no physical barriers or limitations.
Also, Netflix no longer uses Geographic segmentation, which means that its
subscribers around the world can have access to similar content at any point in
time.

NETFLIX PROMOTION STRATEGY:

Promotion is an important element of Netflix’s marketing mix.


Currently, Netflix promotes its content and services using various media
channels.
Also, people can cancel proposed subscriptions (without paying anything)
before the end of the trial period, even after test-running the Tv/Film content
streaming site to their satisfaction.
This is a policy that has endeared many people to Netflix.
Online ads are also in play with new movies and Tv series advertised to attract
new subscribers.
MIND MAP:

Key Takeaways:

Netflix 4Ps include Product, Price, Place, and Promotion.


This online Tv and Film streaming platform provide customers with value-added
content paid for via a monthly subscription plan.
Customers get a free one-month trial period with an opt-out option that can be
implemented at any time.
Netflix uses a Psychographic pricing strategy offering user-friendly pricing to
consumers in more than 190 countries around the world.
Streaming can be done anywhere and at any time on Smart Tv’s, Phones, Pc,
and Tablets.

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