directions: after watching the episode, answer the questions below in complete sentences.\n1. why did stores…
directions: after watching the episode, answer the questions below in complete sentences.\n1. why did stores like blockbuster start to lose money and close down?\n2. how was netflixs way of doing business different from blockbusters? why did it work better?\n3. why did people choose to stream movies at home instead of going to the store to rent them?\n4. what mistakes did blockbuster make that caused it to fall behind?\n5. if you were the boss of blockbuster back then, what would you have done differently to help the company survive?
Answer
Brief Explanations:
- Blockbuster lost money and closed due to competition from online - streaming services like Netflix, high overhead costs of physical stores, and late - fee policies that frustrated customers.
- Netflix offered a subscription - based online streaming model, eliminating the need to visit a physical store. It worked better because it provided convenience, a wider selection, and no late fees.
- People chose to stream movies at home for convenience (no need to travel to a store), instant access, and often a larger library of content available at any time.
- Blockbuster made mistakes such as slow adaptation to online streaming, high late - fees that alienated customers, and failure to invest in digital infrastructure early.
- If I were the boss, I would have invested in online streaming technology earlier, eliminated late - fees, and focused on building a digital brand to compete with Netflix.
Answer:
- Blockbuster lost money and closed because of competition from online - streaming services, high physical - store costs, and unpopular late - fee policies.
- Netflix had a subscription - based online streaming model, which worked better due to convenience, wider selection, and no late fees.
- People streamed movies at home for convenience, instant access, and a larger content library.
- Blockbuster's mistakes included slow adaptation to online streaming, high late - fees, and lack of early digital - infrastructure investment.
- I would have invested in online streaming early, removed late - fees, and built a digital brand.