Your Company Rasmussen Consulting Was Hired By Movieflix A C

Your Company Rasmussen Consulting Was Hired By Movieflix A Company

Your company, Rasmussen Consulting, was hired by MovieFlix, a company that provides subscription service for on-demand Internet streaming media and DVD-by-mail within the U.S. You are the consultant that Rasmussen has decided to assign the MovieFlix case to. To begin your assignment, you will need to select one of the business problems described in the "Capstone Project Introduction" page of Module 01. You will complete this assignment in 2 parts.

To complete your assignment, you will need to do the following: Part I Research your business issue. You will need to use a minimum of 4 credible sources for your research, with 2 being academic sources, such as a book or an academic scholarly journal. Academic scholarly journals can be accessed through the Rasmussen Online Library. For business sources, ProQuest and EBSCO Host are helpful.

*A note about credible sources : Credible sources are reliable, accurate, and trustworthy. These sources are written by authors respected in their fields of study. You want to identify sources where the author of the article is listed; if they've referenced other information, the sources should be cited so that you can check for the accuracy of and support what they have written. Wikipedia is not considered a credible source. For more information on credible sources, please visit the Rasmussen Online Library. In 2-3 pages, describe the problem that you've selected: What is the problem? Why is it a problem for businesses? Why does this problem exist or what causes it?

What are some of the consequences if the problem goes unsolved? Remember to use proper tone in your paper. You are speaking from a "consultant" point of view. Your audience is the Leadership Team at MovieFlix. Make sure to write your paper utilizing proper APA formatting guidelines, and to include an APA formatted title page. Use NoodleBib to document your sources and to complete your APA formatted reference page and in-text citations.

Part II Now that you've shown MovieFlix that you've adequately researched their issue, it's time to write them a formal business letter to discuss next steps. Write a formal business letter from your company (Rasmussen Consulting) to MovieFlix. For your letter, you will need to follow proper business formatting guidelines and use "block letter formatting." Also, include an APA formatted title page.

Your business letter needs to be a minimum of 2 pages in length and must include the following: Let MovieFlix know that you have researched the issue and what your conclusions are for their company based on your research. Discuss the latest developments surrounding the issue. Describe what the first steps will be in helping them to resolve their issue. Explain why it's important that these be the first steps and what your role will be in helping them to implement these first steps. Because this is a formal business letter, tone and grammar are extremely important. You will need to submit your letter to "Grammarly" which is a free service for Rasmussen students, prior to submitting your paper to the drop box.

Once you've made all your suggested grammar corrections, submit your paper to the Drop Box, along with your Grammarly PDF report as a separate attachment. Your goal is to obtain a Grammarly score of %. Grammarly instructions can be accessed here. Submit your completed assignment to the drop box below.

Please check the Course Calendar for specific due dates. Save your assignment as a Microsoft Word document. (Mac users, please remember to append the ".docx" extension to the filename.) The name of the file should be your first initial and last name, followed by an underscore and the name of the assignment, and an underscore and the date. An example is shown below: Jstudent_exampleproblem_101504.

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Paper For Above instruction

Introduction

The rapid evolution of the streaming entertainment industry has transformed how consumers access and enjoy media content. As a leading player in this sector, MovieFlix faces numerous challenges, notably maintaining competitive advantage while ensuring customer retention and operational efficiency. This paper aims to analyze one critical business problem confronting MovieFlix, explore its implications, and propose strategic steps for resolution from a consulting perspective.

Identification of the Business Problem

The primary issue facing MovieFlix is subscriber churn, which refers to the rate at which customers cancel their subscriptions. High churn rates are detrimental to recurring revenue and overall profitability (Kumar & Reinartz, 2016). This problem is exacerbated by intense market competition, the proliferation of streaming alternatives, and rising customer expectations for personalized content and seamless user experiences (Liu, 2018). Subscriber churn poses a strategic threat that necessitates urgent attention and effective mitigation strategies.

Causes and Contributing Factors

Several factors contribute to high subscriber churn at MovieFlix. First, content saturation and lack of exclusive titles diminish customer loyalty, prompting subscribers to explore other platforms offering more appealing or diverse content (Chen, 2019). Second, technical issues such as platform instability, navigation difficulties, and buffering problems frustrate users (Nguyen et al., 2020). Third, insufficient customization and targeted marketing reduce perceived value, leading customers to feel less engaged (Patel & Singh, 2021). Lastly, competitive pricing pressures and flexible subscription models offered by competitors influence customers to switch providers (Smith, 2020).

Consequences of Unaddressed Churn

If subscriber churn remains unmitigated, MovieFlix risks declining revenue streams, erosion of market share, and higher customer acquisition costs to replace lost subscribers (Reinartz & Kumar, 2016). Persistent churn also hampers growth opportunities, diminishes brand reputation, and reduces bargaining power with content providers. Consequently, these factors threaten the company's long-term sustainability and profitability.

Research and Strategic Insights

Research suggests that addressing subscriber churn requires a comprehensive approach integrating improved content strategy, technological enhancements, and personalized engagement (Baksh et al., 2019). Implementing advanced analytics and machine learning can facilitate predictive modeling to identify at-risk subscribers and enable targeted retention efforts (Bapna et al., 2020). Additionally, optimizing user interfaces to ensure smooth, intuitive experiences and expanding exclusive content offerings are vital (Liu, 2018). Customer feedback mechanisms also enable continual improvement, aligning services with consumer preferences (Cheng & Li, 2021).

Conclusion

In summary, subscriber churn is a significant challenge for MovieFlix that threatens its competitive viability. The causes are multifaceted, involving content, technology, and marketing factors. Unaddressed, this issue could jeopardize revenue and growth prospects. A strategic, data-informed approach focusing on content differentiation, technological innovation, and personalized engagement is essential for mitigating churn and securing long-term success. As consultants, Rasmussen Consulting is prepared to support MovieFlix in implementing these first crucial steps, establishing a foundation for sustainable growth.

References

• Baksh, M., Alam, M., & Saddique, M. (2019). Customer retention strategies in the digital age. Journal of Business Research, 102, 324-332.
• Bapna, R., Jaimangaljit, A., & Surendran, G. (2020). Predictive analytics in customer retention. MIS Quarterly, 44(1), 123-143.
• Chen, Y. (2019). The impact of content exclusivity on streaming subscriptions. Media Journal, 34(2), 45-57.
• Cheng, H., & Li, Q. (2021). Customer feedback and continuous improvement in digital services. Journal of Service Management, 32(4), 457-475.
• Kumar, V., & Reinartz, W. (2016). Creating Enduring Customer Value. Journal of Marketing, 80(6), 36-68.
• Liu, S. (2018). Personalization and customer retention in streaming services. Journal of Interactive Media, 24(3), 250-264.
• Nguyen, T., Lee, H., & Park, J. (2020). Technical quality and user satisfaction in online streaming platforms. Computers in Human Behavior, 115, 105244.
• Patel, R., & Singh, A. (2021). Marketing personalization and consumer loyalty. Marketing Intelligence & Planning, 39(2), 273-286.
• Reinartz, W., & Kumar, V. (2016). Customer Management: The Key to Customer Retention. Harvard Business Review, 94(2), 48-57.
• Smith, J. (2020). Competitive pricing strategies in subscription-based streaming services. Journal of Market Analytics, 11(4), 341-355.