Currently streaming TV landscape has been diverse and more robust with the establishment of many companies that are offering the same services. As technology advances, production and distribution of such products as movies and television programs is assuming a new trend which have increased competition. Spent-Flix has been faced with such challenges and identifying the problems and providing solution with be a great benefit to the company.
It is clear that Spent-Flix is faced with marketing challenges as other companies are being established. Its rivals seem to have better marketing strategies which threaten the survival of Spent-Flix. To solve this problem, Spent-Flix should adopt certain strategies that would counter those used by its rivals. First, the company should aim at extending the market base of its customer and thus the company should identify its target customers. For the movie and the latest TV programs, youth are the best target.Women are also targets for TV programs since they spend more time…show more content… Comparing Spent-Flix and the upcoming companies, it is evident that the prices of Spent-Flix are higher. This aspect cannot be ignored since it is creating more competition and reducing the Spent-Flix share of the industry. In order to remain relevant in the market, Spent-Flix company should reduce its price lower than those of its competitors. However, this should be done with care to avoid loses; all the same the company should consider taking advantage of economies of scales. It would be better for Spent-Flix to sell greater volumes of movies and TV programs at lower price than selling fewer products at higher prices. This technique would attract more customers and it will increase its competitive advantage. They should also have promotion days where they would be giving free movies and TV programs as this would attract new customers and it would maintain the already existing
