![]() The porridge she had chosen was just right. ![]() After trial and error, she chose the porridge which was neither too hot, nor too cold. In that story, a child had to choose the right porridge to satisfy her hunger. There is a fairytale which goes by the title Goldilocks and the Three Bears. ![]() Three seems to be a momentous number, as this forms the basis of the three tier pricing approach. Netflix offers three versions of its service- Basic, Standard and Premium. ![]() The real question now is: what are those elements in Netflix’s plan which allows it to stay at the pinnacle of the streaming hierarchy? 1.Three Tier Pricing Elements ranging from its pricing policies to its recommendation algorithm all play integral roles in nudging the customers to think and behave in certain ways which tend to be beneficial the company. These factors take the shape of certain cognitive processes which Netflix relies its customers to take. This success can be attributed to various implicit factors which enable the company to sustain its dominance in the marketplace. With a 139 million large subscriber base, Netflix is undoubtedly one of the most successful video streaming companies out there.
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