BUSS1040 Economics For Business Decision Making

Video entertainments successes in Australia

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Table of Contents

Introduction. 3

Discussion. 3

Question 1. 3

Question 2. 3

Question 3. 4

Question 4. 4

Conclusion. 5

Reference list 7

Introduction

Video entertainment is one of the most popular entertainment platforms in the current years. However, video entertainment started the journey in 1980. This assessment describes the importance and how much popularity the video entertainment gained in those years. Many customers also feel satisfied to see their favorites show through their online platforms like Netflix and previous blockbuster video entertainment platforms. Customers also become more attracted because of the interest in their show and they stop watching offline shows. More information about the video entertainments and their popularities and customers satisfactions are described in the following section.

Discussion

Question 1

The video entertainment company provides their new technologies to serve good entertainment for their customers. However, in the 1980 some of the video entertainment companies did not provide good services for their customers. One of the big video entertainment blockbusters fails to provide their customers satisfaction with their programs and their price distribution is not good for their customers (Gonzaga, 2021). At this time the companies did not have good technological sources for their customers. The company also failed to provide new movies and new shows for their costumes. This company fails to develop its skills; infrastructures that can help compete with landscapes.

The company provides DVD mail and online streaming but sometimes later their entertainments services closed these services. However, they faced many un profitability’s so they chose their services. The blockbuster company tried to reinforce their retailer and it lost focus on serving their customer (Toubia et al., 2019). This company fails to protect their customers and their customers trust that the other companies like Netflix are better than the blockbuster company so they refuse their services. These types’ of issues make a big loss for their company and in that time their other competitors take advantage of their weak points and decrease their show prices for gaining more customers attention.

Question 2

In this current situation, online and offline services are provided in the Australia. However, online entertainment is more popular than offline shows. The young generation always preferred online video and entertainment shows. The perfect relation between online and offline video entertainment is those two types of entertainments platform main motives is developing their shows qualities and gaining more customers or views. The customers are the main part of the entertaining shows (Eigenraam, Eelen & Verlegh, 2021). The online and offline sources try to provide their customers with engagements through the multiple channels that the customers need. The brand familiarity is also similar between their customers because the customers need to know their brands and their shows. The two types of entertainment sources try to build good customer relations for gaining more trust. This helps to develop customers’ trust toward their online and offline entertainment sources (Eigenraam, Eelen & Verlegh, 2021). Those two types of the source’s answers utilised their customer’s data and try to provide their customer’s expected shows.

In Australian societies, the new online entertainment sources are more propellers from the offline sources. It also creates a threat for the offline entertainment industries. Nowadays the young people and the old people are more affected by mobile and laptops. Those are the main tools that help to see online entertainment.

Question 3

Netflix is a great source of entertainment right now that provides good services for its customers. Their company’s marketing structure and strategies help them to become successful. In the process of the times, peoples move on from mailing or streaming movies on the TV and watching TV shows. Netflix already started the production of its own unique content. This original and unique content attracts people to their shoes (Gallistl & Nimrod, 2020). Netflix’s biggest advantage is they give their customers they can watch any type of content at any convenience. The customers also can watch their content with their demanded screen watch. Netflix also makes sure that they give their customers a smooth experience on their video journeys.

This type of situation affects some online stores because customers are more interested in the Netflix services, movies and many more. Many shoes are also produced and promoted at Netflix’s apps. The flies’ stores face many losses on their business and they are forced to close their business.

Question 4

If tiny companies produce their own marketing entertainment then their markets can reach billions of billions of profits (Gallistl & Nimrod, 2020). If tiny produce better quality entertainment on their forest sites then many customers willing to experience it. Australian society is also attracted by the new programs and shows that Netflix and the other entertainment companies produce. The customers and citizens forget about their offline shows and more indeed by the online programs.

Figure name: Australian market over the past 5 years

Sources: Burroughs, B. (2019)

This diagram shows that in those five years the extreme industries gain many orifices and developed Australia’s entertainment industries. In those five days, more than 23455 people joined their entertainment business. In the process of the times, peoples move on from mailing or streaming movies on the TV and watching TV shows (Burroughs, 2019). Netflix already started the production of its own unique content. The OTT platform increased more than can ever imagine. The customers are the main part of the entertaining shows. The online and offline sources try to provide their customers with engagements through the multiple channels that the customers need.

Conclusion

After analysis of these assets, it has been concluded that in Australian society online video entertainment is more popular than offline entertainment. In the previous time, this video entertainment did not provide good services for their customers. Old-time blockbusters are popular entertainment channels that are not operating right now. However, their failures affect their markets. The Netflix company takes advantage and tries to provide their shows and entertainment to their customers. It helps them to become great entertaining shoes in the current times. The customer’s satisfaction is the main source of their success. The Netflix Company proved their good services and that helps them to gain more profits.

References

Burroughs, B. (2019). House of Netflix: Streaming media and digital lore. Popular Communication, 17(1), 1-17. DOI: https://doi.org/10.1080/15405702.2017.1343948

Eigenraam, A. W., Eelen, J., & Verlegh, P. W. (2021). Let me entertain you? The importance of authenticity in online customer engagement. Journal of Interactive Marketing, 54, 53-68. DOI: https://doi.org/10.1016/j.intmar.2020.11.001

Gallistl, V., & Nimrod, G. (2020). Media-based leisure and wellbeing: a study of older Internet users. Leisure Studies, 39(2), 251-265. DOI: https://doi.org/10.1080/02614367.2019.1694568

Gonzaga, E. (2021). Supply Chain Capitalism in the Planetary Network Blockbuster. Interventions, 1-21. DOI: https://doi.org/10.1080/1369801X.2021.2003225

Statista. (2022). Australia: equity trading volume by market 2021 | Statista. Statista. Retrieved 8 February 2022, from https://www.statista.com/statistics/1275222/equity-trading-volume-market-australia/.

Toubia, O., Iyengar, G., Bunnell, R., & Lemaire, A. (2019). Extracting features of entertainment products: A guided latent Dirichlet allocation approach informed by the psychology of media consumption. Journal of Marketing Research, 56(1), 18-36. DOI: https://doi.org/10.1177%2F0022243718820559