Failure Analysis Change Strategy Part 1 Week 6
Introduction
In this new millennium being able to stay ahead of the competition is vital, within the last five years the movie rental entertainment industry has soared. Some of our top contenders have had much success and failures as we will see in Blockbuster vs. Netflix.
Mission, Objectives, Vision
Blockbuster’s mission “Our mission is to provide our customers with the most convenient access to media entertainment, including movie and game entertainment delivered through multiple distribution channels such as our stores, by e-mail, vending, and kiosks, online and home. Our belief is, Blockbuster offers customers a value-prices entertainment experience, combining the broad product depth of a specialty retailer with local neighborhood convenience” (Farfan 2015).
Blockbuster’s main objective was to grow its core rental business, they would achieve this goal by being able to customize a store to its demographic neighborhood; supply and demand. Blockbuster will provide efficient and effective ways of content (movie) distribution by utilizing their branding, global store network, marketing ability, and outstanding relationship with millions of customers worldwide. Therefore, in doing so, they would transform from a retail powerhouse into a leading provider of a broad array of home entertainment. This would allow Blockbuster to distribute home entertainment to consumers however they wanted it - rental, retail, pay-per-view, and potentially video on-demand. This would allow Blockbuster to expand and reach an even broader range of customers and potentially new audiences (Chang, n.d.).Their vision was to value differences, a value that must be continually developed, embraced, and incorporated in the way they do business. (Farfan 2015).
Netflix doesn’t have a clear mission statement, however they referred to their brand promise as a “quest” being “We promise our customers stellar service, our suppliers a valuable partner, our investors the prospects of sustained
In this new millennium being able to stay ahead of the competition is vital, within the last five years the movie rental entertainment industry has soared. Some of our top contenders have had much success and failures as we will see in Blockbuster vs. Netflix.
Mission, Objectives, Vision
Blockbuster’s mission “Our mission is to provide our customers with the most convenient access to media entertainment, including movie and game entertainment delivered through multiple distribution channels such as our stores, by e-mail, vending, and kiosks, online and home. Our belief is, Blockbuster offers customers a value-prices entertainment experience, combining the broad product depth of a specialty retailer with local neighborhood convenience” (Farfan 2015).
Blockbuster’s main objective was to grow its core rental business, they would achieve this goal by being able to customize a store to its demographic neighborhood; supply and demand. Blockbuster will provide efficient and effective ways of content (movie) distribution by utilizing their branding, global store network, marketing ability, and outstanding relationship with millions of customers worldwide. Therefore, in doing so, they would transform from a retail powerhouse into a leading provider of a broad array of home entertainment. This would allow Blockbuster to distribute home entertainment to consumers however they wanted it - rental, retail, pay-per-view, and potentially video on-demand. This would allow Blockbuster to expand and reach an even broader range of customers and potentially new audiences (Chang, n.d.).Their vision was to value differences, a value that must be continually developed, embraced, and incorporated in the way they do business. (Farfan 2015).
Netflix doesn’t have a clear mission statement, however they referred to their brand promise as a “quest” being “We promise our customers stellar service, our suppliers a valuable partner, our investors the prospects of sustained