Netflix is one of the leading online streaming media and entertainment businesses in the world, which started as a DVD rental business. Netflix is now a website that you register and pay to watch TV shows, movies, documentaries, etc. The best part of Netflix is that you don't have to see any commercial while you are enjoying the content. It is updated regularly so to it does not get out of date. To use its services, you can first try it for a period of one month and after that you have to, only if you like it or wish to continue, take monthly subscription and the good thing is you don't have any contract with them, no cancellation fees, no commitment. You can cancel online subscription anytime. For those who wish to take Netflix's membership there are three plans as follows which give different levels of access of the content to users: basic plan, standard plan, premium plan. It also offers streaming software for viewing any video instantly as a part of its marketing mix product portfolio but specified internet speed and system requirement is necessary for better experience. A few years ago, Netflix decided to produce films and TV shows and created some like Narcos, Orange is the New Black, Thirteen Reasons Why, etc. It also acts an online distributor by acquiring broadcasting rights. In addition to all these, it provides delivery of DVD rentals. Netflix provides one month free trial service in order to attract them and then convert these prospective customers into actual ones. After the one month period is over, it charges a minimum amount in the form of subscription which depends upon the type of plan opted for which is a follows Basic Plan, Standard Plan, Premium Plan which range from $7 to $12. From the above price list, it is easily evident that it uses psychological pricing. The prices by Netflix are pocket-friendly which is in line with its motto for which it is founded, i.e., to subsidise the rental costs for consumers. According to the plan you have opted for, you get the additional benefits. Netflix is an online streaming business and hence available everywhere. Almost the entire business of Netflix is conducted online. Its services are accessible through Smart TVs, tablets, smartphones, etc. with internet access. Netflix uses almost all media channels to promote itself and that too through the content which it offers. Its first month free trial policy is kind of a promotion activity to build brand awareness at first and then retaining those who subscribe to it. After that month only, you have to pay subscription if you wish to continue with Netflix as a customer. It makes use of social websites like Facebook and Twitter as well. The use commercial billboards in the offline mode. TVCs and print ads also help Netflix showcase the various shows, latest movies etc which users can see using the app.

1- What are the main components of a marketing strategy (in general)?

2- Identify the elements of a marketing strategy in the case Netflix.

3- What would you add to that analysis to w rite a marketing plan for Netflix?

4- The new marketing manager of Netflix was asked to w rite a marketing plan for the next 2 years. He decided to cancel the promotion budget since "Everyone in the world knows about Netflix and the brand doesn't need promotion effort any more". Do you agree with this strategic decision? Explain.