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| Topic: |
English
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| Number of pages / Number of words: |
16 / 4454 |
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Founded by Reed Hastings in 1997, the original concept was based as an online version of a more traditional pay per rental model. But the CEO Hastings had personally experienced frustration with late fees. Once when returning a single movie, he was forced to pay a $40 late fee and realized that he was not only one who had displeasure with such large charges...
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He launched the monthly subscription service in 1999 and began Netflix #1 differentiating marketing tool, "No Late Fees." Today, over five million families now have Netflix accounts, and they can access to over 65,000 titles.
Netflix Process Strategy
Netflix offers an online subscription DVD rental service to customers for a monthly fee...
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