Hello, I am currently in the middle of completing my Marketing Plan Analysis and Presentation Final and wanted to ensure that I've done the research needed correctly for my presentation. I'm new to this concept and not really sure if I researched and answered the questions correctly. Can you take a look at it and let me know what I'm missing our answered incorrectly please? Thanks.

Marketing Plan Analysis and Presentation: Part 3 - Research Template

Directions: Using the company and research sources from the Topic 2 and Topic 5 assignments as a starting point, conduct additional research to acquire information related to place and promotion associated with the company you selected. In the "Strategy Recommendation" section, recommend a strategy that you believe will increase profits and sales to the target market. Cite your specific research findings to justify your strategy assessment and recommendations.

Information to be Researched

Research Findings

Resource Citation Information

Describe distribution channels (direct, manufacturer to consumer, indirect, wholesalers/retailers, multichannels).

Direct distribution channel-this is whereby the producer or rather manufacturer engages his or her customer one on one and sells the products to the consumer in person. The manufacture does not use the intermediaries to sell the products to the consumers.

Indirect distribution channel-this distribution channel involves selling out one's products in wholesale to agents or merchants or rather retailers so that they can distribute your product on your behalf. They keep your product in storage, showcase it, and use salespeople to get it into the hands of buyers who will purchase the products. It involves the intermediaries being used by the manufacturers to get the products sold out to consumers.

Multichannel distribution strategy-this is whereby a company uses more than one distribution channel. It uses multiple channels or stores to reach customers and generate sales. It is advantageous since it allows a sales person to offer new shopping channels to his or her clients.

GCU. (2018, November 30). V15 Types of Distribution Channels [Video]. YouTube. https://www.youtube.com/playlist?list=PLg_v7K-G8mejSbfHsYZhdkxMsNjW5T844

Discuss possible channel conflicts.

Vertical-when manufacturers eliminates the supply chain and sell directly to consumers. This creates direct competition between manufacturers and retailers.

Horizontal-loss leader and turf war. A loss leader is a pricing strategy where a product is sold at a price below its market cost to up sell sales of more profitable products. Whereas, turf war is a battle for sales in the same area.

Multiple channel conflict-when a manufacturer has at least two channels competing to sell the same brands/products. An example of this is a manufacturer selling their products direct-to-consumers, as well as selling to a wholesaler/ retailer. This is problematic as both the manufacturer and retailer can be selling the same products to online customers at different prices and with varying margins of profit.

Konings, R. (n.d.). Channel conflicts, or opportunities? | 3 strategies | Sitelucent. SiteLucent. Retrieved July 3, 2021, from https://www.sitelucent.com/blog/channel-conflicts-or-opportunities

What forms of advertising and promotion does the company use? What role does personal selling fulfill for the company?

Netflix uses some traditional advertising. Doing so in a big way. Ways such as, full-page ads, clever billboard backed a social media campaign, sponsored programs in the New York, as well as the Wall Street Journal. Netflix has gone through a lot of advertising changes over the past few years, but with savvy business decisions, the right level of programming and a unique promotional push, Netflix has proven that the non-traditional route of getting consumers on board is quite effective. Another form of advertising (which is also their major source of promotion for the brand) includes social media websites to include YouTube. However, by them being a globally well-known brand gives them the edge of not going to intense on advertising hence this brand prefers pop-up ads, banners, hoardings and other static ads on various websites.

Workman, R (2016, March 29). Retrieved from https://www.alistdaily.com/media/netflixs-non-traditional-approach-marketing

Bhasin, H (2019, May 29). Retrieved from https://www.marketing91.com/marketing-strategy-of-netflix/

What forms of media does the company use? Describe the media mix.

Netflix leans into their unique value proposition on social media platforms, such as; Facebook, Instagram and Twitter. They also create campaigns to promote and engage their audience. The audience then takes to their media platforms and sites to discuss Netflix.

The media mix is a combination of different advertising channels which are chosen uniquely to it reaches a maximum number of people. These channels are used for the purpose of advertising their goods or services so that maximum number of people can get aware of it and then buy it.

HeartofCodes (2018, December 26). Retrieved from http://heartofcodes.com/marketing-strategy-of-netflix/

Bhasin, H (2019, June 1). Retrieved from https://www.marketing91.com/media-mix/

Illustrate the messages the company currently uses.

Note: Include links to specific YouTube and social media site examples.

Netflix brand tone is currently known to be a bit casually humorous; it resonates well among the millennials. They communicate to their audience as if they are a fan of theirs. They do not believe a brand can only achieve success with an authentic voiceunlike other entertainment companies, which stick to a rigidly formal approach when interacting with their followers. Their message exudes inclusion.

Siddiqi, M (2019, June 26) Retrieved from https://bettermarketing.pub/netflix-marketing-strategie

Netflix. (2017, September 17). Netflix Is A Joke | Emmys 2017 | Netflix [Video]. YouTube. https://youtu.be/0afzkLHTUK8

Strategy Recommendation: In XXX words, recommend a strategy that you believe will increase profits and sales to the target market. Cite your specific research findings to justify your strategy assessment and recommendations.

When it comes to online video streaming, no one beats Netflix. For well over a decade, Netflix has been dominating the online streaming industry with convenient and cheap streaming options. However, things have been changing rapidly in the streaming industry that has directly impacted Netflix competitive edge. In June of 2019, AT&T announced that they were pulling tv-series "Friends" from Netflix to launch their own streaming service HBO Max. Other companies such as Comcast, Apple and Disney have done the same. With Disney holding the lowest pricing per month for its streaming subscription, while Netflix is at the highest of all streaming platforms (Arbel, 2019, The Denver Post). In order for Netflix to continue being at the top in the entertainment era, there's a few things I believe they should do, in order to increase profits and sales to their target market. First, Netflix should concentrate on diversifying their targeted audience, as millennials currently holds 72% of the company's user base, and with Gen X holding 73% (Stoll, 2021, Consumers with a Netflix subscription in the U.S. 2017, by age group). Netflix can do this by integrating with cable companies such as Comcast to familiarize themselves to the viewers over 65, as this market is from the television era.

Apart from diversifying their user base, Netflix should implement multisided platform (MSP), to follow in the footsteps of companies like Amazon and Facebook. Netflix would do this by allowing third parties to sell their services within Netflix's service, but outside Netflix's subscription on terms controlled by the third parties. These third parties would include marketers and the developers of cloud gaming or other services. Becoming a multisided platform would allow Netflix to tap into a different dimension of growth. Selling more content to the same subscribers, while also attracting new subscribers with this strategy. Netflix would benefit from this platform by growing exponentially, without having to buy or produce the new content themselves. They would just have to attract those third parties to develop and sell their content, then being able to take (as is common) a share of the revenue or a transaction fee. Moreover, third parties could experiment with new forms of content, which could be very valuable to Netflix's content acquisition and production efforts. In this way, Netflix would be following in Amazon's footsteps, except it will have digital content rather than (for the most part) physical products (Hagiu & Altman, 2017, Finding the Platform in Your Product).

References:

Stoll, J. (2021, January 27) Retrieved from https://www.statista.com/statistics/698020/netflix-subscription-by-age/

Hagiu, A., & Altman, E. J. (2017, July-August) Retrieved from https://hbr.org/2017/07/finding-the-platform-in-your-product