Question

Walmart and Blockbuster were well-known firms. Why weren't they able to leverage their brands to compete against Netflix?

a. Walmart and Blockbuster had outdated technology and couldn't keep up with Netflix's innovations.
b. Netflix offered a more convenient service, including home delivery and no late fees.
c. Walmart and Blockbuster lacked the financial resources to compete in the digital streaming market.
d. Netflix's customer-centric approach and recommendation system were superior to its competitors.

Answer 1

Walmart and Blockbuster were not able to compete against Netflix due to their outdated technology, lack of convenience, and financial limitations.

Step-by-step explanation:

Walmart and Blockbuster were not able to leverage their brands to compete against Netflix for several reasons:

1. Outdated technology: Walmart and Blockbuster had outdated technology and couldn't keep up with Netflix's innovations. Netflix was the first to offer streaming videos, which was a more convenient option for consumers compared to physically renting DVDs.
2. Convenience: Netflix offered a more convenient service, including home delivery and no late fees. This made it easier for customers to access and watch movies compared to driving to retail stores or kiosks.
3. Lack of financial resources: Walmart and Blockbuster lacked the financial resources to compete in the digital streaming market. Netflix had invested heavily in building its online platform and continuously improving its recommendation system, which made it a superior choice for customers.