Title: Why Blockbuster Went Out of Business? Analysing its Pricing Model.
Headings: Why Blockbuster 🎦 Went Out of Business? An Analysis of its Business and Pricing Model
Why Blockbuster 🎦 Went Out of Business? An Analysis of its Business and Pricing Model
The standard analogue business model
Losing Credibility – One Reason Why Blockbuster Went Out of Business
Not understanding the customers’ needs – Another Reason Why Blockbuster Went Out of Business
Another reason for their eventual demise was their failure to lower prices across all top-selling categories (movies, snacks and beverages).
Blockbuster’s pricing and product strategy
How Netflix was born
What were the other reasons why Blockbuster went out of business?
Implications
Conclusion
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Content: The fastest speed back then was less than 3kbps and the modem was a dial-up phone line. If you wanted to watch a movie at home you’d go to the nearest Blockbuster store and rent a DVD. In the store, you’d get a vast selection to choose from the old black and white classics like ‘Casablanca’ or the three-hour-long ‘Gone With the Wind’ to the latest ‘Star Wars’ prequel movies such as ‘Attack of the Clones.’ They also had a popcorn store so you didn’t have to go to the convenience store to buy it. All your viewing and snacking needs were in one store. Blockbuster then was the biggest video rental company. They were also extremely popular: It had 84,300 people employed worldwide, that’s about 58,500 in the United States and about 25,800 in other countries. It had 9,094 stores in total, with more than 4,500 of these in the US. Its net income was US$268 million in 2010, with revenue at ‎US$3.24 billion.