BC Management Strengthening the Netflix Community Presentation – Description
Guidelines
Your team has been hired by the company you have selected, to help them decide what they should do about a strategic issue facing the company. Your task is to identify a core problem to be solved (or opportunity to be seized), perform the appropriate analysis, develop strategic options, choose the best one, and develop recommendations for implementation. Your deliverables are a slide deck and a 1 page executive summary communicating your analysis and insights and persuading the CEO that your recommendations are worth adopting. In your research and deliverables, you should identify the core strategic issue, your analysis of it, and your recommendations. You should justify the strategic issues and problems to be solved, describe the necessary analyses and conclusions, and present recommendations and implications. You are expected to gather all information needed for this report from outside sources. These are the recommendations and you have to write a short essay with all the statistical data and financials to show how this recommendation could help out NETFLIX
Recommendation 1: Strengthening the Netflix Community by allowing subscribers to follow each other.
· A brand community is a powerful tool. Establishing and strengthening a brand community builds consumer loyalty and increases the outreach of a brand. (West, 2020) Therefore, we propose that Netflix integrates a feature that allows subscribers to follow and be followed by family and friends, as well as have the algorithm suggest subscribers who share common interests in movie and TV show preferences.
· With Netflix’s existing algorithm that calculates the percentage ‘match’ of each TV show or Movie with the user’s previously watched programs, adding this feature will feed more data into the algorithm as it will be able to read other users’ interests and curate a more accurate calculation for that user. Allowing subscribers to follow their family and friends, as well as those with similar watch preferences helps to develop a strong Netflix community in which subscribers can identify, interact and forge bonds with others of similar interests.
· This is because Netflix can leverage each user’s watchlist to identify shows that 2 or more users are interested in and generate show recommendations from there. Doing so creates a loop where users with similar interests will have more common topics to discuss and share. This helps to create a strong community where more common topics and conversations can be fostered and shared amongst Netflix’s subscribers even without Netflix initiating them. With a strong community, a brand can enjoy strong brand loyalty from its subscribers (Johnson, 2022). This means that Netflix can continue to retain its existing users in the increasingly competitive and saturated streaming market while attracting new users.
· Ultimately, this feature reinforces its highly innovative nature as a company and allows them to continue to offer its users a new and different experience on its platform which in turn, will result in increased brand awareness and strengthen its online presence.
Recommendation 2:
Enhance Localization Efforts: To counter tough competition and attract more subscribers, Netflix should invest in enhancing localization efforts. This involves customizing content for different regions, including subtitles or dubbing in local languages, and curating region-specific content catalogs. By providing a more tailored and localized experience, Netflix can increase its appeal to a wider audience and retain existing customers.
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