Where else can you apply the Netflix business model?
Posted by joe
Sometimes the most creative business ideas are “stolen” from one industry and applied in another. In some ways this can be safer — at least you know the creative idea works somewhere. So can you rent/sell neckties the same way Netflix rents videos? You can read more at “TieTry lets subscribers rent ties by mail, like Netflix,” (USAToday, July 19, 2012).
What other industries might utilize the Netflix business model?
Tags: Business models
This entry was posted on Sunday, July 22nd, 2012 at 7:15 pm and is filed under Entrepreneurship, Price, Product. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Amazing! The question asked is whether ties can be sold using the Netflix buisness model. I believe so. First, one of the main reasons many companies do not succeed is because effort was not poured into a properly written business and marketing plans. A tremendous amount of work can go into creating these plans so if someone can skip a step when creating a company and use a model that already works then i say, go for it.
September 27th, 2012 at 6:50 pmThe Netflix model is already successful so changing the product from movies to ties shouldn’t take too much effort. Much time, energy and finances can be invested in creating a business or marketing plan so using any fiances that would be allocated for those things can go into testing if the new product works. My greater concern would be an ethical one. In other words, is it OK to borrow the Netflix model?
In this case where neckties are the product being rented because the Netflix model worked best for the company it makes sense to keep the model simple because the product is simple. Simplicity and cost savings seem to be the overall goal that this company is trying to convey. With the headquarters, warehouse, shipping center at one of the partners home the additional funds can go into inventory.
I am a tie user myself and many times I have found myself wishing I had a new and exciting tie for an important event of some sort. Marketing to the right clientele will be very important. Everyone likes movies but everyone doesn’t wear ties. Maybe a movie with instructions in how to tie a knot can attract new customers.
Can any company use the Netflix model? Obviously not, but the tie industry may have just found a way to increase stock by making it easier to get a tie into someone’s hands without the headache of losing time and money.
Take the capital saved and invest it into a marketing plan that targets the tie connoisseur.