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NETFLIX TARGET MARKETS
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NETFLIX TARGET MARKETS
BINGE WATCHERS
BINGE WATCHERS ARE PEOPLE THAT ENJOY AN OVER ABUNDANCE OF MEDIA. NETFLIX IS KNOWN FOR THE WIDE SELECTION OF BOTH KNOWN AND UNKNOWN FILMS AND TELEVISION. THIS IS WHAT KEEPS BINGE WATCHERS AS LOYAL CUSTOMERS.
TARGET MARKET
MOVIE BUFFS
VALUE SEEKERS
VALUE CAN BE DEFINED AS BENEFITS OVER COST. VALUE SEEKERS LOOK FOR FAIR PRICE AND CONVENIENCE. FROM THE START, NETFLIX HAS ATTRACTED VALUE SEEKERS. THEY CONSIST OF A LARGE PART OF THEIR USERS.
MOVIE BUFFS ARE PEOPLE THAT DEMAND A WIDE SELECTION OF MEDIA, RANGING FROM BIG BUDGET HOLLYWOOD FILMS, TO LESSER KNOWN INTERNATIONAL FILMS. DATA MINING ALLOWS NETFLIX TO SELECT FILMS AND SHOWS THAT CATER TO THIS AUDIENCE.
A TARGET MARKET IS MADE UP OFF THE PEOPLE THAT A COMPANY DESIDES TO FOCUS IT'S ATTENTION ON AND SELL IT'S PRODUCT OR SERVIVE TO. IN THE CASE OF NETFLIX, THERE TARGET MARKET IS INTERNATIONAL. THE THEIR TARGET MARKET IS DEPENDENT ON THE MEDIA THEY CARRY. DATA MINING ON THE PART OF NETFLIX REVEALS THAT THEIR TARGET MARKET CONSISTS OF FOUR GROUPS: BINGE WATCHERS, MOVIE BUFFS, PEOPLE WHO DEMAND HIGH VALUE, AND CHILDREN. NETFLIX'S TARGET MARKET IS MADE UP ENTIRELY OF PEOPLE WITH HIGH SPEED INTERNET CONNECTION
CHILDREN
CHILDREN ARE INCREASINGLY BECOMING ACTIVE USERS ON NETFLIX. NETFLIX OFFERS A WIDE SELECTION OF FAMILY PROGRAMS THAT HOLD CHILDREN'S ATTENTION.
INTERNATIONAL USERS
ALTHOUGH NETFLIX IS AN AMERICAN BASED COMPANY, IT HAS USERS ACROSS THE WORLD, ESPECIALLY IN COUNTRIES WERE THE MAJORITY OF THE POPULATION HAS ACCESS TO HIGH SPEED INTERNET.
MARKET SEGMENTATION
Market segmentation is the act of dividing a target market into smaller sub-groups in order to cater to a specific group of users.