ROLE OF PROMOTIONAL STRATEGIES AND FINANCIAL AFFORDABILITY OF CUSTOMERS ON DIGITAL TV USAGE: A STUDY IN WEST BANGALORE
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ROLE OF PROMOTIONAL STRATEGIES AND FINANCIAL AFFORDABILITY OF CUSTOMERS ON DIGITAL TV USAGE: A STUDY IN WEST BANGALORE
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Running head MARKETING STRATEGIES 1MARKETING STRATEGIES 6.docx
Running head: MARKETING STRATEGIES 1
MARKETING STRATEGIES 6
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The content in my Milestone 1 paper clearly shows that Netflix has grew the number of its customers through the use of very effective marketing strategy. It is one of the many companies that can be used as a real-life practical example of the benefits that the right marketing plans and techniques can bring to a firm. Netflix was a new company with a pretty new concept in the movie and entertainment sector. Therefore, it needed to correctly and effectively set the marketing objectives that would act as a blueprint to guide the advertising and publicizing team (Berman, 2016). The main marketing objectives of Netflix are:
1. Create awareness:
This is then main objective in their marketing strategy. Netflix has always aimed to create a brand name that will be hard for any upcoming competitors to beat.
2. Increase the number of customers subscribed
The company aims to grow its reputation not only in its home state but also on the international scene. It has since managed to do this by spreading its high-quality services to customers across the globe.
3. Enhance their streaming service
Netflix has been able to successfully offer reliable streaming services to its clients. Their service is able to adjust the quality of the video depending on the speed of the internet hence the client can watch with no or minimal buffers (Wenzel, Mahle, & Pätzmann, 2016).
4. Increase social media influence
Netflix has managed to gather a huge following on their social media handles. Most of their followers have been acquired through the aggressive and effective marketing that Netflix performs.
5. Promote the brand
Netflix has been featured in many comedies and movies as promotion ad that comes up in the middle of the shows. This strategy caught the attention of many people.
Proposed research
Venturing into any business requires adequate research accompanied by the implementation of feasibility studies. The research required by Netflix while beginning was enormous since it was venturing into a very new concept in the entertainment market scene. The research that I would do to enhance the marketing process at Netflix includes some main aspects which are discussed below.
a) Internet connection availability
Netflix services require internet connectivity to access. This fact serves as a limitation and also an advantage (Lamkhede, & Das, 2019). It is a disadvantage since it prevents a customer who has no internet connectivity from enjoying the many movies and series that are offered on the Netflix platform. However, using the internet serves as an advantage since customers can receive the service from anywhere in the world as long as they are connected to the internet. When one compares these two facts, using the internet as a channel to offer their service is more beneficial than it is limiting.
The research that Netflix should conduct is on the current level of internet con ...
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The workshop will have two parts. The first part will involve project presentations from each team, presenting consumer-focused strategy cards, and a brainstorming session using the cards. There will then be a short break. The second part will consist of developing tangible actions based on the brainstorming session, followed by presentations from each team on what they learned and improved during the workshop by using the cards. The strategy cards are a tool to brainstorm ideas to better communicate, collaborate and innovate with consumers and stakeholders to promote sustainable consumption and behaviors.
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Welcome
This document outlines a study on the impact of consumer advertising in Nepal. It discusses the history and growth of advertising in Nepal's media landscape. The objectives of the study are to identify the impact of consumer advertising, analyze advertiser preferences, examine the impact of celebrity endorsements, and study public perceptions of advertising. The methodology will use surveys of advertisers, agencies, consumers, celebrities, and officials. Samples of 500 consumers, 20 agencies, 20 advertisers, and 20 celebrities will be taken using questionnaires and interviews. Data analysis will use descriptive and inferential statistics.
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IMPACT OF ADVERTISING ON CONSUMER’S BUYING BEHAVIOR
Advertising is a form of communication intended to convince the audiences or consumers to purchase or take some action upon products, information or services. In this study, we tried to find out the impact of advertising on consumers’ minds about the product and their buying behavior. We have surveyed 100 respondents who are studying in the universities of the southern part of Bangladesh to identify the relationship between consumer buying behavior and advertisement. We mainly collected our data from three universities which are Khulna University, University of Barisal and Patuakhali Science and Technology University. The major finding of our study after analyzing all data is that there is a positive impact of advertising on consumer’s buying behavior and advertising plays a vital role to know about a new product.
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Running head MARKETING STRATEGIES 1MARKETING STRATEGIES 6.docx
Running head: MARKETING STRATEGIES 1
MARKETING STRATEGIES 6
MileStone-2
The content in my Milestone 1 paper clearly shows that Netflix has grew the number of its customers through the use of very effective marketing strategy. It is one of the many companies that can be used as a real-life practical example of the benefits that the right marketing plans and techniques can bring to a firm. Netflix was a new company with a pretty new concept in the movie and entertainment sector. Therefore, it needed to correctly and effectively set the marketing objectives that would act as a blueprint to guide the advertising and publicizing team (Berman, 2016). The main marketing objectives of Netflix are:
1. Create awareness:
This is then main objective in their marketing strategy. Netflix has always aimed to create a brand name that will be hard for any upcoming competitors to beat.
2. Increase the number of customers subscribed
The company aims to grow its reputation not only in its home state but also on the international scene. It has since managed to do this by spreading its high-quality services to customers across the globe.
3. Enhance their streaming service
Netflix has been able to successfully offer reliable streaming services to its clients. Their service is able to adjust the quality of the video depending on the speed of the internet hence the client can watch with no or minimal buffers (Wenzel, Mahle, & Pätzmann, 2016).
4. Increase social media influence
Netflix has managed to gather a huge following on their social media handles. Most of their followers have been acquired through the aggressive and effective marketing that Netflix performs.
5. Promote the brand
Netflix has been featured in many comedies and movies as promotion ad that comes up in the middle of the shows. This strategy caught the attention of many people.
Proposed research
Venturing into any business requires adequate research accompanied by the implementation of feasibility studies. The research required by Netflix while beginning was enormous since it was venturing into a very new concept in the entertainment market scene. The research that I would do to enhance the marketing process at Netflix includes some main aspects which are discussed below.
a) Internet connection availability
Netflix services require internet connectivity to access. This fact serves as a limitation and also an advantage (Lamkhede, & Das, 2019). It is a disadvantage since it prevents a customer who has no internet connectivity from enjoying the many movies and series that are offered on the Netflix platform. However, using the internet serves as an advantage since customers can receive the service from anywhere in the world as long as they are connected to the internet. When one compares these two facts, using the internet as a channel to offer their service is more beneficial than it is limiting.
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- 1. ROLE OF PROMOTIONAL STRATEGIES AND FINANCIAL AFFORDABILITY OF CUSTOMERS ON DIGITAL TV USAGE: A STUDY IN WEST BANGALORE Firos Febin Reg No: 14WJCMD014 Don Bosco Institute of Bio-Sciences & Management Studies
- 2. STATEMENT OF THE PROBLEM: this study to explore and analyze whether there is any influence of promotional strategies of service providers and financial affordability of the customers on the usage of Digital TV. The study has also ensured to highlight on the general perceptions and buying behaviors of the customers towards Digital TV usage.
- 3. Objectives of the Study The study was based on the following objectives, namely: To assess whether the promotional strategies used by digital TV operators had any influence on customer choice. To identify whether financial affordability of the customers had any role regarding the use of Digital TVs. To study customer perception on the use of digital TV. To identify factors influencing customer choice regarding digital TV in and around the West Bangalore.
- 4. Research Design: Sampling – convenient sampling Sample size -100 Tools for Data Collection: Scheduled Questionnaire Secondary Data Limitations of the study: • This study is limited to the west Bangalore. • The size of the sample is restricted to only 100 respondents. • In depth study was not possible due to the time constraint
- 5. Findings: The study disclosed that majority of the users are financially sound. The respondents were using Dish TV from their service providers Majority of the respondents are influenced by the advertisement of the service providers. The respondents who are influenced by the promotional strategies constitutes 74%. The major factors behind the purchase of Digital TV’s are Economy of the offer, numerous channels, promotional strategies, advertisement and brand image. It has found that the major factor that leads the consumer to purchase is the availability of various numerous channels which constitutes 71The study found that most of the digital TV consumers are monthly spending 300 to 500 rupees and all customers are affordable to pay monthly charges.
- 6. Conclusion Based on these study findings it has found that customers are very much satisfied with the digital TV usage. The Promotional activities have impacted very far as a determining factor on the consumers in purchasing the set up boxes. The service providers have to provide the channel packages at affordable prices so that the middle class people can also afford.
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