Blockbuster stores shuttered their video customers, understanding that time, fam
ID: 390906 • Letter: B
Question
Blockbuster stores shuttered their video customers, understanding that time, family, and work obligations called for more convenient methods to receive video entertainment. Notflix embraced the doors but Netfix is still growing. Both companies participated in the video rental business. Netflix evaluated the lifestyle needs of eam videos directly to customers and create their own content The company also managed to keep customer costs down, by passing along the ngs it realized in labor. Blockbuster did not pay enough attention to competitor movements, permitting Netflik to quickly capture video market share. which external environment probably had the least effect on Netflix's success? Multiple Choice Social environment Competitive envionment Economic and legal environmentExplanation / Answer
The answer is economic and legal environment
The company is not affected by economic downturn and any laws as it operated within the legal limits. The competition between the two is on technological innovation where Netflix has been able to take advantage of opportunities sin TV technology. So technological environment has the greatest effect on Netflix’s success. social environment also has an effect in the company’s success as people demanded convenience and enjoys cheaper prices which Netflix has been able to provide and blockbuster was very slow to react.