Netflix's Brand Promise & the Industry Market Leaders

Netflix’s Brand Promise and the Industry Market Leaders
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Netflix’s Brand Promise and the Industry Market Leaders
Explain and discuss the brand promise of Netflix
It is difficult to imagine a living area or even a board room where the word Netflix is unheard of. According to Woo (2011), Netflix today prides itself of having secured over 115 million subscribers in about 200 countries. In order to take care of its extensive customer base, Netflix as had to ensure that it protects its brand. One of these ways is through the company’s brand promise that takes care of its customers, suppliers, partners, and investors. Netflix’s brand promise has been essential in the success and growth of its business over the years.
Netflix’s brand promise claims that it is a quest where “We promise our customers stellar service, our suppliers a valuable partner, our investors the prospects of sustained profitable growth, and our employees the allure of huge impact” (Netflix, n.d.). In this quest, Netflix promises its customers stellar and unique service that the consumers would not find anywhere else. Netflix has achieved this because after the success of its streaming and DVD services, many of its consumers think that it is likely to replace other entertainment options such as the traditional television. Netflix focuses on a unique strategy of streaming content directly to the consumers while allowing them to watch when they want to, set aside to watch later, and even original content created by Netflix. These unique services give Netflix’s consumers variety while at the same time ensuring quality. Consumers are ensured of a stellar service because they are not bombarded with ads or other interruptions as they watch their favorite shows or movies. Further, Netflix continues to enhance its user experience by listening to their needs and desires. For example, Woo (2011) notes that when Netflix wanted to separate its streaming and DVD-by-mail service into a different company/hosting with different price quotes, they received negative feedback from the consumers and they retracted these plans. This shows that the Netflix promise of the stellar services to consumers is evident in the way they listen to consumer needs.
The brand promise of Netflix also includes ensuring that its suppliers, partners, and investors are assured of sustainable profitable growth. Ideally, Netflix has potential for growth over the years because of new technological changes and potential to expand to other countries. This means that Netflix is able to capitalize on these to ensure that it keeps its promise to its suppliers and investors. Stenovec (2017) argues that Netflix promises or plans to be the finest global entertainment distribution company, licensing the entertainment content all over the world, develop markets that are attractive and reachable to filmmakers, and also assist content creators all over the world to be able to secure a global audience. This means that this clear vision that Netflix has would, ultimately, help it fulfil its promise to its suppliers and investors. In addition, through its brand promise, Netflix focuses on enhancing its employees’ welfare. According to (St...