Q1: The movie rental industry changing. What is changing about where and how we get our movie rentals? What are the movie rental industry's driving forces of change and how are they changing the industry. Explain and discuss what is going on here.
Q2: What do you think the movie rental industry of the future of will be like? How will it be different than today? How will this affect how companies compete and try and make profits renting movies?
Q3: What do you think will be the keys to competing successfully in this industry in the future (what will companies have to be able to do in order to compete
Q4: Looking at the movie rental industry moving forward towards the future, does Netflix need a new strategy or can they modify what they are doing? Explain. What are some things that Netflix should do differently to continue to compete successfully and earn profits in the "new" movie rental industry of today and the future?
Q5: If management agrees with your plan described in question Q4, what would be the top 3-4 action steps to implement your recommended plan and turn it into reality? Be clear on what you mean.© BrainMass Inc. brainmass.com June 4, 2020, 4:22 am ad1c9bdddf
1. What is essentially changing about where and how we get our movies is the fact that we do not have to leave our homes in order to rent movies as we did in the past. We are able to rent movies online, as well as to have rental movies mailed to us through other innovative rental movie organizations. The movie rental industries driving forces of change are technology and competition. Technology is changing this industry due to the fact that we can actually download movies that we are renting or actually rent the entire genre of movies by paying a monthly fee, such is the case with Netflix. The competition between Netflix and organizations such as red box, is also serving to make movie rental more and more convenient and inexpensive for the consumer. This is largely due to the fact that these organizations are each trying to make their service the most affordable and convenient for the customer base.
2. The movie ...