CASE: MARKETING: THE NETFLIX WAY Netflix seems to be in a stage of constant product development, as well as market development. While it originally started as a U.S.-based service, the company has moved aggressively into new geographies and now streams its programs in 190 countries and territories. The company now serves more than 100 million subscribers outside of the U. S. Netflix is very much interested in knowing what customers really want and in delivering superior customer value and satisfaction better than the competitors. They spent a significant amount of money researching customers preferences in terms of genres, types of shows, and languages. Netflix has a complex business model in that it must secure content agreements by region and country. Regulatory restrictions also limit what content can be made available. Also, many international viewers are not fluent in English and prefer local-language programming. Such is the case in sub-Saharan Africa where Netflix is producing original content. The region has 1.1 billion citizens and is a largely untapped market. Streaming in Africa is estimated to grow from 3.9 million subscribers in 2020 to 13 million in 2025. While Netflix is investing in African programming, it faces challenges in piracy, expensive mobile data, slow Internet speed, and a high rate of poverty. There is also plenty of competition in the market from both local and global providers. Pricing and sales requiring U.S. currency are issues as well. Netflix is testing a mobile-only subscription at $4.03 per month (59 South African rand). In the year 2021, Netflix has updated its mission statement: "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." Ready to watch? Ready to be entertained? (Note: You can make use of the video shared in eLMS, and/or any offline/online materials with proper citation] Questions: 1. Evaluate the needs, wants, and demands as they are fulfilled by Netflix. 2. Evaluate the marketing management orientation of Netflix. 3. Discuss the four primary marketing strategies under the product/market expansion grid. Which strategy is Netflix using? Explain 4. Evaluate the mission statement of Netflix. Is it suffering from the problem of marketing myopia? Explain. 5. Explain how various environmental factors may affect the ability of Netflix to build and maintain successful relationships with the target markets.