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Concept Map 1 - Management Info Systems 3533
Course: Management Information Systems (BUS 3533)
34 Documents
Students shared 34 documents in this course
University: Texas Woman's University
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Concept Map 1
Central Question:
How has the Netflix firm experienced wild swings in market perception and stock?
Describe how and why you selected the concepts (nodes) included in your concept map.
I selected the following nodes: profits & stock, competition challenges, content
availability, streaming & data asset, distribution network, customer experience. Profits & stock is
very important because customers decide which streaming service to choose from based on price.
How much does it cost per month? Per year? Is there a family plan? Will there be better choices
of content, any discounts? Netflix content has proven to be significantly more difficult and more
costly compared to other streaming services. The competition of the streaming industry is very
competitive, and continues to grow every year with new streaming brands or current ones
fluctuating. Streaming and Data Asset is vital to Netflix because it allows the firm to help find
content that will work towards customer satisfaction and a greater reputation as a streaming
service. Customer Experience is very important because brands are built through customer
experience. Netflix’s distribution network is very successful and very popular with a couple
hiccups throughout their years and it is vital to their success as a streaming service.
Explain the overall logic in the organization of your concept map describing in more detail the
relationship between concepts (nodes).
Netflix has had to work hard to compete against Amazon, Disney, HBO, Peacock, Hulu,
etc. Deals and renewal deals are made every year and sometimes those renewal deals Netflix
offers and wants are declined by other streaming services. Netflix has had to struggle making
friends among other services as everything is a sharks tank. Everyone is fighting for the most
popular content, as well as creating new content, and buying all available content. Content
Availability in Netflix is tricky. They have lost popular movies and tv shows to other competitors
and have had to think of new ways to make new deals. The one way Netflix can counter rivals
with exclusive content is to offer exclusive content over their own. Such as Netflix originals.
Netflix has had great success is streaming popular content, however, it also has had difficulties
keeping those contents on their streaming service. Streaming & Data Asset was chosen due to
Netflix’s critical asset that is far stronger than its competitors. They have a growing detailed
treasure trove of data. “This data asset is used to make more accurate recommendations, improve
user interface design, and help the firm determine the appropriate cost for acquiring content, it
can even shape creative decisions in original program offerings.” If it’s one thing Netflix does
well, it has creative ways of deciphering what customers like and don’t like. Collaborative
filtering is a software to classify viewers with what the firms VP of product refers to - clusters of
customers who have the most similar content preferences. Distribution Network is a group of
storage facilities that transports inventories of goods and delivers them to customers. Netflix is a
streaming service, however, it does deliver DVD discs to customers that order them. “Netflix
managed to gain relevant scale greater than Blockbuster and Walmart. It did so by building and
