Evaluation Essay on Blockbuster Company

Introduction

Blockbuster, is now a forgotten name in the memory. The company has been a great entertainment company that has been providing, home movie, a cinema theater, and video game. Currently, the company is remaining with only a few of their branches as it has closed most of them. They are remaining with nine locations which are: one in Texas, two in Oregon and the rest several in Alaska. The popularity of the company rose in the 90's with over 2000 stores in 1992 and over 9000 stores by 2004 (Wooldridge, Matulich & Riddick, 2007). The company that picked a toll on Blockbuster is the Netflix which is a rental service that runs movies. In the year 2010 Netflix Company filed for bankruptcy thus making it merge in the Dish Network in the year 2012. At this time the Blockbuster in its brand lifecycle is at the decline stage. There is very little hope for Blockbuster as it has very few remaining stores and a digital streaming service that is taking control in the market (Wooldridge et al., 2007).

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However, the products for Blockbuster were excellent as the consumer were flocking to get their favorite movies or rent new movies. A big portion of the Blockbuster Company's revenue had late fee charges if which they did not work on. The company strived to remain technological and they successfully transitioned from being VHS to DVD. The products they offered were very successful as they had sweet retreats that coupled the movie (Silverthorne, 2018). In the course of Blockbuster working there were other smaller marketing companies that invaded the market forming a competition with the Blockbuster Company but did not succeed.

At the high point, the blockbuster company had over 9000 stores at its own buildings and shopping plaza build near busy traffic roads. They made a blue and yellow logo that was visible high above on the street and at the front of their retail stores (Wooldridge et al., 2007). They made their logo like no other and was the brightest in town. After sometime the company started offering Netflix and Blockbuster services. Netflix services allowed one to choose the movie and they would ship them to any destination of a customer's wish for a monthly fee. That has given the company a good chance to remain competitive as they can reach a customer at a point that other companies had not reached. The company too had to air commercial ads on ran print, used promotions in their stores and all the things that can attract customers. The ads they aired were iconic at that moment and they used animated rabbit and a pig (Wooldridge et al., 2007). The company did anything to win the competition with Redbox and Netflix, by listening to their customer to avoid the late fees, lowering their prices and they allowed renting of new movies on one day (Fritz, 2018).

The blockbuster used the market mix but still, something went wrong with them. The investments of the company were much on the motor and brick locations when the Redbox Company became convenient and the Netflix started to grow ("Blockbuster vs. Redbox", 2018). For that reason, the company kept their prices at a competitive level, looked for strategic locations for their stores, promoted their customers very well and got the most desired products by customers so that they would attract as many as possible (Fritz, 2018). From the progress of the company, it seems it followed the marketing mix as supposed. Along with making all those steps they had to give an ear to their esteemed customers on the changes they need done and maintained their online services. The company promoted their deals and business by even featuring their iconic commercial on The Superbowl which is the biggest stage.

When the company was well in place, their brand was popular and was well operated. The movies they had were in large stock but the video games were introduced much later. They even had snacks and a rewards program for their customers. Their consumers were angry with the late charges thus making the company to eliminate them. However, they made their advertisements in the right way and the flow of their market seemed right. At that time the company was dying slowly and now they operate the remaining stores independently and the company was merged with the Dish Network due to bankruptcy (Silverthorne, 2018).

Conclusion

The internal stakeholders in Blockbusters have played a great role in making the company what it is and what it has been. The company CEO has played a role in first establishing the company which was a great entertainment store for people especially their consumers. The CEO has contributed much into the company by inventing new techniques that they used in attracting and satisfying their consumers. The other staff has played a big role too by being committed to the company and have helped in working on the company's website and maintaining it as they upgraded it and checked for any orders from their consumers. They also ensured that the movie did not run out of stock and their store too remained clean (Silverthorne, 2018).

References

Blockbuster vs. Redbox. (2018). Retrieved from https://sbbearden.wordpress.com/2010/04/27/blockbuster-vs-redbox/

Fritz, B. (2018). Blockbuster rent: Blockbuster changes movie-rental prices. Retrieved from http://articles.latimes.com/2011/may/28/business/la-fi-0528-ct-blockbuster-20110528

Silverthorne, S. (2018). Blockbuster Strategy: Why Star Power Works. Retrieved from https://www.forbes.com/sites/hbsworkingknowledge/2013/10/15/blockbuster-strategy-why-star-power-works/#398a8357d594

Wooldridge, B. R., Matulich, E., & Riddick Jr, J. C. (2007). Big Changes in Rental Industry Test Retail Powerhouse Blockbuster. Annual Advances in Business Cases.