Summary
In a three-stage expansion process, Netflix could make strategic decisions and establish effective policies in those markets. Before moving forward, they carefully selected a few calls to employ as a test and then studied those markets. One of the best strategies the business can employ to expand is to invest in big data and analytics. Companies like Netflix may give their customers a better product or service by using analytics to obtain more insight into their preferences (Brennan, 2018). Based on the number of TV hours a member watches, this information is used to predict whether they would cancel. Investments in creating regional content draw viewers from outside the production region and advance their globalization. The business learned about customer preferences thanks to big data and analytics. Additionally, it uses consumer insight on global marketplaces. They acquired country-specific knowledge, including that of politics, institutions, regulations, technology, culture, customers, and rivals, which is essential for their development.
The “Exponential Globalization” method adopted by Netflix has resulted in faster expansion than its rivals. The phrase alludes to their expansion methodology, plan, and execution. Netflix has benefited from this strategy, but new businesses and the well-known Amazon Prime will continue to pose a threat to Netflix (Brennan, 2018). Many companies attempt to replicate what Netflix accomplished and have failed by using their lessons. Tesla is one among them. For many years, Tesla has endeavored to enter other markets like India. The taxes or tariffs on their automobiles are one of the critical causes of its failure. The article continues by demonstrating the need for firms and enterprises worldwide to attempt to anticipate their sales while considering high taxes or tariffs. Making informed selections with this analysis will benefit investors (Kaur, 2022).
Local businesses are under increased pressure from international and multinational enterprises to lower their prices to compete. Governments worldwide have implemented tariffs and import limitations on goods and services entering their countries. Offering goods or services at a low cost is one of the finest strategies to stay competitive. If the government imposes a tariff on goods entering the country, it is not easy to accomplish this. Many businesses cannot enter new markets because of a specific pricing point where they cannot compete.
Hypothesis Testing
The hypothesis is less than the current average Service Time of 3.5 minutes for both the new and the old protocols. Service time is longer than the typical Queuing time, according to the test. Compared to the QiT, the ST is at 0.2, whereas it is at 0.25. The hypothesis is null since they are less than the significance threshold of 0.5. Because clients spend a small amount of time online, the corporation should not invest more money in enhancing QiT.
Test No.1
Our alternative hypothesis, Ha is TiQ < 150 and our null hypothesis, Ho, have TiQ ≥ 150 values.
The correct answer to the t calculation is t = 2.787.
The appropriate t critical value is -1.645.
We fail to disqualify Ho. There is proof that our wait time is longer than 150 or above the industry standard. Our company has to investigate the reasons behind our more extended than usual wait time.
In this instance, the mean is higher than the standard for the sector. Since the metric is the time customers must wait for service, we prefer to be lower than the industry average in this scenario.
Test No. 2
Our alternative hypothesis Ha is PE < PT and the null hypothesis Ho is PE ≥ PT.
Z should be estimated at -6.834
The appropriate Z critical value is -1.645.
We disagree with the null hypothesis Ho, which states that PE must be more significant than or equal to PT. There is proof that the service time for the new protocol (PE) is less than the old protocol (PT) service time. All agents should be subject to the new protocol.
References
Brennan, L. (2018). How Netflix Expanded to 190 Countries in 7 Years. Harvard Business Review. Web.
Kaur, D. (2022). Why does Tesla not want to expand into India? Tech Wire Asia. Web.