Netflix in India
Product
Product mix
Strengths and Weakness of Product
Product Life Cycle Management and New Product Development
Brand Name, Brand Image and Brand Equity
The Augmented Product
Price
Pricing Objectives
Pricing Method
Pricing Strategy
Discounts and Allowances
Price Elasticity and Customer Sensitivity
Break Even Analysis at Various Prices
India is one of the emerging markets for digital business. It is also a lucrative market for companies dealing in digital content. It is crucial for many digital content companies to have a presence in India given the population of the country and the growing number of first time users of internet in India. This market holds great prospects for future growth.
One of the major companies to provide digital content is Netflix which has been announcing updates for its online platform and has shown that it intends to chalk out plans to be able to penetrate and approach consumers in the high-growth markets.
Some of the innovations that the company has come up with include carrier billing and in-app subscription sign-ups. These are verticals that have been announced by the company.
With its eyes on the lucrative Indian digital content market, Netflix has given indications of entering India and company authorities have announced their intent of creation of Bollywwod content -- Bollywood is the acronym given to the Indian Hindi movie industry, the largest in India.
These are signals that the company is indeed serious about attempting its entry into India and the capturing of the Indian digital content market.
There are two major issues present in the digital market in India according to experts. These are low credit card penetration, and the fact that most new consumers will be 'mobile first' internet users. These are indeed serious issues in India and for Netflix as, according to the most recent data, the credit card and bank account penetration in India is just around 2% of the population. Netflix has tried to address both the issues through announcement of its plan for India. For example, the Carrier billing is a very easy and apt solution for the problems as discussed above. The company is banking on the data that 71% of the people in India using smart phones are used to topping their airtime balance. Netflix authorities claim that enabling the consumers is the key to success in its possible venture in India (Netflix.com).
Further the carrier billing method can also be a very good too for consumer acquisition in India as this process if somewhat different from those in the developed economies. Partnerships with mobile service providers could be a very strong marketing proposition for Netflix as the mobile service providers are used to managing billions of impressions daily through more than 20 customer-facing channels they operate. These range from SMS and top-up notifications to websites and call-centres.
To start off Netflix could think about acquiring Bigflix, the Indian version of Netflix. This company has been active India over the last few years and in manner similar to Netflix, allows the user to stream and download high definition digital content against subscriptions. The subscription charged by the company is around Rs. 250 per month. The company services are primarily limited to a section of Bollywood movies and some movie sin the regional languages in India. However the company offers its services across all devices such as desktop, tablets, smart phones and connected TVs (Bigflix Watch Online Movie).
There are other features like the movie on demand ecosystem spanning across product, distribution and content. The company intends to replicate Netflix in India and hence is a competitor for Netflix. Through its extensive HD quality movie library, Bigflix offers access to Hindi, English and several Regional language movies to users. The collection of movies for Bigflix is not as huge as Netflix with just around 2500 movies, but the users are able to watch the movies without any ads or breaks in between.
Hence it is clear that Netflix needs to acquire Bigfix for a start in the Indian market. This would not only provide the company with a ready user base but also provide instant rights and access of around 2500 Indian movies. When coupled with the rich bouquet of English and other foreign language movies that the company already posses, the combination would be very impressive.
Product
Product mix
Something that is produced in order to satisfy customers is called a product (Kotler, Philip, and Gary Armstrong, 51).
The product mix and range of the Netflix...
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