HERE ARE THE DIRECTIONS: This section will take the recommendations from the SWOT analysis, and define them into actionable objectives. Be specific with measurable outcomes, e.g. "increase sales by 15% by x date" or "achieve sales of X in Year 1 and Y in Year 2" or "to achieve x% of customers making repeat purchases by x date' or 'increase market share of x product by y% by z date". These objectives need to link back logically to your environmental analysis. This section should include an analysis of current marketing objectives and their performance. You should ask your client for revenue projections for the next two years and revenue actuals from the past two years in order to have some facts to extrapolate from. Objectives must be specific, measurable, and time bound. Consider the timeframe to be the next 12 months.

Above is what I have to do. I already did the SWOT (it's attached below) I don't know how to go about doing what they want in the directions above. Can you help me? Point me in the right direction? I don't know how to make this measurable and time bound. Can you help?

Here's the SWOT:

Netflix

External Analysis

EXTERNAL ANALYSIS

Netflix, an American media service and self-production company, is a subscription based streaming service that allows customers to stream television shows, movies, and documentaries from anywhere that there is access to internet service (Netflix, 2021). Television shows and movies are available to be downloaded in order for customers to access their chosen television show or movie without internet access. The company has considered developing a cheaper mobile version, which would be a good opportunity for the international markets. According to the initial projections, "this service would go as low as $3 per month. This will provide a major increase in profits but would also help them compete with Amazon and Disney" (Falin, 2021). The opportunity for Netflix to expand their product on the global market and penetrate other countries would grow their company. Forging new partnerships in Europe and Asia is a very important opportunity. "Netflix reported that nearly 50% of its paid membership growth came from the Asia-Pacific market. Continuing to grow revenue internationally, not just $5 mobile-only memberships, is one of its most important opportunities" (Gaille, 2020). Continuing to grow their self-production company by creating self-produced content would help the company grow. The opportunity to produce original self-produced content was seen, and put into action. Now, Netflix has the opportunity to continue to produce exclusive original self-produced content. "It is tailoring its original content to specific countries, like India where it spent $400 million in developing original content and licensing third-party content between 2019 to 2020. It plans to invest millions into its content in Asia-Pacific. Its large global subscription base represents a huge opportunity for both content and revenue expansion" (Gaille, 2020). There is also the opportunity for the brand to increase its library content by making new deals with movie distributors as well as to increase the amount of original content they produce each year (Falin, 2021). Another opportunity for the company would be the annual subscription. Netflix encounters revenue loss when customers subscribe, watch a series for a month, and then unsubscribe. Currently, there is no penalty for month long subscriptions. Netflix has the opportunity to make their year subscription more inviting to customers to avoid cancellations.

Major threats that Netflix encounters is piracy, increased competition, U.S. market saturation, regulatory issues, and hacking (Falin 2021). There is not a lot of regulation in other countries. Every country has their own regulations regarding streaming content. Therefore, it can be a threat for Netflix to enter certain markets because of increased costs and oversight related to operating in a foreign market (Gaille, 2020). Netflix has had major success from the beginning. Their success has caught the attention of many companies who have decided to create their own streaming service. For example, Apple, Disney, HBO, and Amazon. These new services are very threatening because of the content they offer as well as their prices. For example, "U.S. Disney+ is currently cheaper, hosts all the Star Wars and all-new Marvel movies, and releases one new Star Wars and one new Marvel show every week" (Gaille, 2020). Although, Netflix is threatened by the risk of saturation in the U.S. There is not the opportunity for growth in the U.S, as the majority of households already have Netflix. Netflix is becoming stagnant (Falin, 2021). Finally, Netflix faces major threats from hackers. Due to the Coronavirus pandemic lockdown, Netflix was able to recognize a flaw in their system. "Hackers break into accounts and change the passwords so the subscriber gets locked out, and the hacker can take over the account. Hackers can also pirate content from the library and distribute it over other channels. Minimizing this vulnerability will be important for Netflix to show it can manage its own technology" (Gaille, 2020).

Netflix

Internal Analysis

INTERNAL ANALYSIS

Looking at the company internally and evaluating the factors that they can control; it is evident that Netflix has many strengths and weaknesses. In 2019, Forbes rated Netflix as the 4th most reputable company. The company's ability to adapt and transform remains a major strength. For example:

It originally began as a rental service for DVDs that allowed users to rent movies without having to go to a video store. In 2007, it changed its primary business model to become a content streaming service, allowing users to watch programming from its library on-demand, rather than waiting for a disc delivery. Netflix's approximately 13,900-title library now includes both original and licensed movies and television shows and can be streamed on any modern tablet, smartphone, streaming box, gaming console, or smart TV. The number of titles in its library has dropped from around 15,400 titles as it shifts its budget from licensing content to producing its own content in order to cut costs (Gaille, 2020).

In addition, Netflix has a growing global customer base. Many traveling customers chose Netflix because they are able to access their Netflix account internationally. "Netflix had more than 200 million paid subscribers across 190 countries, with 80% of new sign-ups coming from outside the US and Canada" (Gaille, 2020). Netflix also has the largest content library out of any platform. By making the change into investing their budget into their original content, "Netflix is able to have exclusive offerings for its subscribers and to cut costs (versus licensing the third-party content)" (Gaille, 2020). Another strength is that Netflix does not offer advertisement commercials. This feature is a huge deciding factor for customers.

Pricing is weakening the company. Netflix receives a lot of backlash for their pricing options. "Customers think that having just 3 pricing categories is not enough for people with flexible requirements. In fact, this might be one of the reasons why new subscriber numbers are stagnating as of late" (Falin, 2021). Along with their pricing plan is their increased pricing. They offer inflexible pricing plans, and want to continue to increase the price of their plans. This could become a major issue for the company, especially when their competitors are offering basic plans at a cheaper price. Another factor that weakens Netflix is their debt. In order to get the company started, Netflix needed major financial support. As of 2020, the company is $14.17 billion in debt (Falin, 2021). Production costs and international placement contribute to the amount of debt that the company is facing. And the company wants to continue to fund future projects, which will only increase their debt (Falin, 2021). Another weakness is the company's dependence on the U.S. "50% of its total revenues come from North America. Although they're able to make significant profits from this market, it is almost saturated, which could stifle future growth" (Falin, 2021). Netflix also receives backlash for their lack of going green. A lot of companies around the world put an emphasis on green initiatives, which Netflix fails to do with no plans to do so. This weakens their overall brand image. Lastly, Netflix is criticized for their lack of original content. Falin states, "Most of their programming is taken from other studios for a limited time period. After it expires, it will start appearing on other channels. This reduces the need for subscribing to Netflix" (2021).

Netflix

SWOT Analysis

SWOT ANALYSIS

Strengths Adapt and transform Global customer base Library content Advertisement	Weaknesses Pricing Increased pricing Debt U.S. dependence Lack of green incentive Self-produced content
Opportunities Cheaper mobile version Expansion on global market Self-produced content Annual subscription Partner with movie distributors	Threats Piracy Increased competition U.S. Market Saturation Regulatory Issues Hacking

Netflix has managed to attract more than 167 million subscribers from all over the world and is the biggest internet streaming service in the world (Falin, 2021). The company offers quality, and was the first streaming service on the market. Netflix is in a strong strategic position, but there are many factors that contribute to their strong strategic position as well as threaten it. After analyzing the company's internal and external factors, it is evident how the company can turn their threats into opportunities, align their strengths with opportunities, and how to address their weaknesses.

With the threat of the U.S market saturation, Netflix has the opportunity to expand on the global market. Netflix will face regulatory issues by expanding onto the global market, but if they focus on their 'cheaper mobile version', they could expand internationally without having to address specific regulatory issues. Perhaps, countries will see the success of their mobile version and work with Netflix. The increased competition in the U.S threatens the company and their future. By expanding globally and offering a 'cheaper mobile version' will give Netflix a leg up on their competitors. Piracy and hacking remain a threat. It would be smart for Netflix to invest in a software to protect them from piracy and hacking, especially if they are going to develop a 'cheaper mobile version.' Their strength to adapt and transform will allow the company to smoothly transform into the global market. The company has already started to gain a global customer base, making the opportunity to further expand that much easier. Netflix has the largest content library. The company should use this as an advantage and advertise this to customers as well as advertise that Netflix does not have advertisements on their streaming site. This is a major strength that could influence customers to choose Netflix over a competing streaming company. Another way Netflix could use the strength of their large library content, to partner with movie distributors to expand their content further. Netflix should also adjust their annual subscription to make their year subscription more inviting to customers to avoid cancellations. The 'cheaper mobile version' could even help to attract customers to committing to a full year subscription.

Netflix has the right resources to turn their threats into opportunities and align their strengths with their opportunities. Although, the company still needs to recognize their weaknesses. Recognizing their dependence on the U.S will help them to understand the importance of their global expansion. The company is facing a lot of debt, and by depending solely on the U.S, Netflix faces major losses with competitors fast on their trail. Netflix has started to produce their own content, but their weakness is that their content is still programming taken from other studios for a limited time period. Once it expires, it starts to appear on other channels, reducing the need for subscribing to Netflix. The company's several different pricing plans along with the increased pricing of their plan weakens their company. Competitors offer basic plans at cheaper prices which are more appealing to customers. Lastly, taking on a green incentive could help turn the company in the right direction by gaining more support from customers. The company receives a lot of backlash for their weaknesses. It would be beneficial to receive positive reviews.

References

Falin, V. (2021). Netflix SWOT analysis 2021: Updated strategy. SAAS Reviews. Retrieved from

https://costofincome.com/netflix-swot-analysis/

Gaille, B. (2020). Netflix SWOT analysis (2021): 23 biggest strengths and weaknesses.

BRANDON GAILLE: Small Business & Marketing Advice. Retrieved from https://brandongaille.com/netflix-swot-analysis/

Netflix. (2021). What is Netflix? Netflix. Retrieved from https://help.netflix.com/en/node/412