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In case of Netflix It reminds us how important it is for a brand to adapt to the needs of the market, which dictate new needs.
As NetflixOther brands that have said goodbye to the businesses that placed them in the market have been Kodak.
Adapting to market needs allows us to understand the potential with which brands manage to adapt to consumption.
Netflix cancel a popular service which for 25 years has set a precedent in content rental, realizing how important it is to undertake.
Like Netflix saying goodbye to one of its popular services, various brands have had to say goodbye to segments or activities that introduced them to the industry they now star in, just like Kodak, which became a key player in the photographic industry.
With the farewell that Netflix makes to one of its businesses that placed it as a leader in the industry, it is important to note that there are reasons why a brand stops being interesting to the consumer, as identified by the study “The State of Personal Commerce”which warns of how important it is to interact with the consumer.
Netflix and a popular service
Netflix closes its subscription business to DVDwhich was launched by the company in 1998 and now the firm says goodbye to the unit that introduced it into the content industry.
Throughout 25 years, the service of DVD of Netflix It had kept sending these discs by mail and now that it is closing it, the brand accepted that it is due to the reduction in the number of users that it has registered, so its last discs will be sent on September 29.
“We feel so privileged to have been able to share movie nights with our members of DVD for so long, so proud of what our employees have accomplished and excited to continue pleasing entertainment fans for many decades to come.”
The output of Netflix home delivery business DVD eliminates a service to the business model based on content rental and predecessor of the subscription, which today has even become a business model for companies outside the streaming segment, thereby dictating how important entrepreneurship is for define increasingly valuable business resources.
This is not the first time that a brand has canceled a popular service for which it became known in the market, Kodakfor example, drew attention when it was learned in 2012 that it was closing its camera business, the business that popularized the brand internationally and where it even became a benchmark that to date is still remembered as a chapter in the amazing story of this segment.
What was announced on that occasion is that Kodak it lowered the curtains of its business of digital cameras and small video cameras, later the brand started in the business of pharmaceutical laboratories and took advantage of its facilities to adapt to this industry.
What is important to see in these cases is that the needs of the market change and with it categories that had become traditional are left behind as a measure of consumer demand, which has new habits (since these are constantly changing). that lead to demand for certain special products or services.
What we can see of both cases, both that of Netflix closing your business DVD such as Kodak saying goodbye to the cameras in 2012 is that the opportunity to remain in the market is proportional to the adaptation of the services that these companies manage to provide.
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