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The History of Netflix Research Papers
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After receiving a ridiculously high fee for returning a movie late, Reed Hastings said that there had to be a better way to rent and watch movies and TV shows from the comfort of their own homes. Hence, in 1997 Reed Hastings and Marc Randolph, a software executive, co-found what is known today as Netflix, “the world’s leading internet subscription service for enjoying movies and TV shows,” (Netflix, Facts). The purpose of this paper is to the process of exchange between Netflix and their customers, as well as Netflix’s approach to relationship marketing and how this marketing technique has helped Netflix leave their competitors in the dust when it comes to customer satisfaction. From its inception, Netflix has become a business based on superior customer service and has subscribed its business to the market marketing management philosophy. The main purpose behind Hasting’s idea of a better way to rent and enjoy movies was how to provide that service to their clients and not have any late fees. In other words, their customers could enjoy their rentals from Netflix for as long as they wanted, and they would never have to worry about late fees again, so long big movie rental chains! This aspect alone of Netflix’s marketing plan indicates that Netflix has based their marketing plan on market orientation, “a philosophy that assumes that a sale does not depend on an aggressive sales force but rather on a customer’s decision to purchase a product,” (Lamb, 2009, p.7). Many companies that take on this philosophy are said to implementing the market concept. The marketing concept states: “The idea that social and economic justification for an organization’s existence is the satisfaction of customer wants and needs while meeting orga... ... middle of paper ... ... rental devise and stand in the weather trying to figure out what movie we want to rent, talk about a great deal! Works Cited Lamb, C. W., Hair, J. F., McDaniel, C. D., & Wardlow, D. L. (2009). Essentials of marketing (6th ed.). Cincinnati, Ohio: South-Western College Pub.. Netflix - Watch TV Shows Online, Watch Movies Online. (n.d.). Netflix. Retrieved March 13, 2012, from https://signup.netflix.com/MediaCenter/Timeline Netflix - Watch TV Shows Online, Watch Movies Online. (n.d.). Netflix. Retrieved March 13, 2012, from https://signup.netflix.com/MediaCenter/Facts Netflix - Watch TV Shows Online, Watch Movies Online. (n.d.). Netflix. Retrieved March 13, 2012, from https://signup.netflix.com/MediaCenter/HowNetflixWorks Netflix - Watch TV Shows Online, Watch Movies Online. (n.d.). Netflix. Retrieved March 13, 2012, from https://signup.netflix.com/MediaCenter