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Film Industry

In: Business and Management

Submitted By Boazkip
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Redbox and Netflix are two competing video streaming companies. Redbox however compared to Netflix, is a small video retailer in the United States. Its entry into the market posed both positive and negative challenges to Netflix. It plays an important role in the development of Netflix’s strategic plans. This is because it works towards outdoing its bigger rivals in the video streaming industry Netflix being one of them. Through competition with Redbox, Netflix will be able to come up with competition strategies that will enable it to counter strategies that Redbox is implementing in order to gain a wider market. In terms of pricing strategies, Netflix will be able to come up with good and favorable pricing strategies. When Redbox, entered into the video streaming market, it lowered its prices for video products so as to gain a larger market. This provides a platform for Netflix to look into pricing so that it can maintain the current consumer market and be able to beat the marketing strategies that Redbox is implementing. This is because Redbox is becoming is becoming a challenge and therefore, Netflix will do market research in order to realize it strengths and weaknesses. Through the evaluation of weaknesses, Netflix will be able to evaluate the threat that Redbox is posing to it and hence come up with ways of dealing with the identified threats and identify the opportunities that are there in the video streaming industry. Redbox is threading to the future of Netflix because it is the largest competitor in the market and is growing rapidly because of its lower cost of video streaming to the consumers compared to that of Netflix. This is threatening to reduce Netflix’s consumer market as many consumers will opt for Redbox due to its low and friendly costs.
The new competition from digital content providers will alter...

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