Best Buy Company case study

Topics: Renting, Blu-ray Disc, Strategic management Pages: 4 (1796 words) Published: April 20, 2014
Name: Bryar Rashid
BUSI 4317 – Business Policy and Strategy
Date: 04/03/2014
Case Study #: Netflix

Introduction: Netflix is an online company with corporate headquarters in Los Gatos, California. The. Netflix was founded by Hastings who is also the CEO of the company. Company was established in 1997. Netflix’s key business is online rental services in the software industry. Netflix’s software business services span various software products and services. Among these are DVD movies and several other software products. Despite disappointing results on its performance at the beginning, the innovative entrepreneur continued to modify the company while identifying and exploiting new opportunities that presented themselves. That was when the company designed and developed a website that saw it host millions of subscribers making it rake in huge profits.Netflix launched its Web site on April 14, 1998, and thus positioned itself to take advantage of the new DVD technology that Hastings and Randolph believed would eventually replace VHS as the preferred playback format. In the early years, there were only a few companies—such as Magic Disc, DVD Express, and Reel.com—competing in the rent-by-mail DVD industry. To promote its brand, Netflix provided a free rental coupon to consumers that purchased Toshiba, Sony, and Pioneer DVD players or select Hewlett-Packard PCs and Apple computers. Also in 1998, with a deal widely publicized in the media, Netflix boosted its brand recognition by selling Bill Clinton’s grand jury testimony in the Monica Lewinsky scandal for two Cents plus shipping. And by 2009 was offering a collection of 100,000 titles on DVD to over 10 million subscribers. Netflix had 27 million subscribers in September 2012. Its streaming service was extended to Canada in 2010, Latin America in 2011, the UK and Ireland in early 2012 and to Norway, Denmark, Sweden and Finland in late 2012. Competition came from Blockbuster and Wal-Mart, who both...
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