Netflix vs. Redbox Industry

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How is it that Netflix and Coinstar’s Redbox have thrived in the DVD rental business and brick-and-mortar companies like Blockbuster were forced into bankruptcy protection? According to CEO and founder Reed Hastings, value is the reason. As we know from class, value is defined by customer/consumer and companies that offer value turn buyers. One great example of a company’s value turning buyers into lifelong customers is Apple. Apples success with iPhones, iTunes and Mac computers have proven that value through excellent customer experiences creates lifelong clients/customers.
Netflix does not have an “official” mission statement, but founder Reed Hastings refers to its brand promise as a “quest” and goes on to say “We promise our customers stellar service, our suppliers a valuable partner, our investors the prospects of sustained profitable growth, and our employees the allure of huge impact. “

Netflix however has published their nine company values, which provide further clarification about the principles that guide their employees in their daily decisions and activities. Netflix Company Values were published as...
• Judgment
• Productivity
• Creativity
• Intelligence
• Honesty
• Communication
• Selflessness
• Reliability
• Passion

Netflix is an online company with corporate headquarters in Los Gatos, California. Netflix was founded by Hastings who is also the CEO of the company. Netflix’s key business is online rental services in the software industry.

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