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The modern world can be characterized by a continuous contest between various enterprises, including streaming services. Netflix is a leader in the subscription video-on-demand industry and has been rivaling such major brands as Amazon Prime Video, Disney+, and Hulu (Kweon & Kweon, 2021). Consequently, one can hypothesize that Netflix’s primary competitive advantage lies in being different from others. Netflix faces substantial opponents and challenges but remains one of the primary players in providing access to movies and TV shows.
Netflix has a long history of being a streaming service and has managed to determine ways of outperforming others. The corporation pioneered the market in 2007 and has gathered millions of users (Kweon & Kweon, 2021; Varadarajan, 2020). However, Netflix has fronted certain obstacles that may decrease its popularity. In particular, research suggests that Netflix recently lost subscribers and even resolved its fees (Kweon & Kweon, 2021). Such a decision is doubted to benefit the firm because Netflix’s affordability has always been questioned. Compared to its rivals, Netflix does not have the lowest prices (Kweon & Kweon, 2021). Nonetheless, Netflix’s competitive differentiation advantage helps the company keep its leading position (Kweon & Kweon, 2021; Varadarajan, 2020). Netflix surpasses other businesses due to constantly developing unique content, which is not discerned based on subscription status, and being ad-free, which is a vital part of the brand’s identity (Kweon & Kweon, 2021). Since the corporation does not depend on using commercials, utilizing Netflix is distinguishable from interacting with other streaming services and traditional TV channels. Throughout its existence, Netflix has been working on improving its visual products.
Despite encountering downfalls, Netflix appears to know how to stand out among other partakers in the industry. The brand’s main strength is being unlike its rivals in prioritizing the users’ access to unique content. Netflix allows people to watch TV shows and movies regardless of subscription level and without commercial interruptions. The corporation greatly values its individuality which seems to be the reason for Netflix being a leader and the longest player in the market.
References
Kweon, H. J., & Kweon, S. H. (2021). Pricing strategy within the US streaming services market: A focus on Netflix’s price plans.International Journal of Contents, 17(2), 1-8. Web.
Varadarajan, R. (2020). Customer information resources advantage, marketing strategy and business performance: A market resources based view. Industrial Marketing Management, 89, 89-97. Web.
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