Blockbuster vs Netflix: Blockbuster, then dominant market leader in video rental service in the United States once valued at US$8.4 billion when it was acquired by Viacom in 1994, declared bankruptcy in September 23, 2010. In 2001, its 3-year old rival, Netflix, was offered to Blockbuster for only US$50 million. When the offer was ignored, Netflix decided to raise funds […]
Blockbuster
Profiting from customer dissatisfaction is one of the worst ways to create profit for a business. It goes against the concept of a compelling value proposition where pain points of target customers are identified and addressed. Satisfaction of needs and wants should be prioritized to continue to be relevant as a brand. The emotional connection is often lost when buyers […]
Imagine you are the biggest in your industry — you can be a bank, a car rental firm, a supermarket, a bookstore, a drug store, a pawnshop or any retail store format for that matter. Then, a newcomer entered the market and disrupted what you have been dominating for a long time. Your brick and mortar retail branch network, which […]