Simultaneously, they would also acquaint consumers with the value of their product, when compared to others. The reality was that the film industry was slowly declining, people viewed photography as a commodity and they were just on the cusp of Kodak 5 the digital era. It seemed that the economy line was introduced too late to recover the shares that were lost. Film had become a commodity product to most consumers, and there was little customer loyalty to any particular camera film brand. Understanding the different needs and relative value of your offering by segment. Dolan will comprise following sections — Eastman Kodak Co.: Order Now – Eastman Kodak Co.:
Because of the recent upward trend with consumers buying in bulk, wholesale retailers were gaining more loyal customers on a daily basis. The specific case dictate the exact format for the case study analysis. Funtime became a question mark product, liquidating revenues made by the existing cash cows. As a result of consumers being uneducated in the film market, the general hesitation of purchasing film will come from being unaware of the benefits each film provides. Gold Plus is the premium brand film and is developed to target average consumers who are already Kodak-loyal or seeking quality photos over price.
By educating customers and anticipating future market trends, not only is Kodak able to retain its loyal customers, but positively position themselves in the minds of non-Kodak-loyal film consumers, as well.
Often companies can easily see the unfulfilled needs in the markets but they are difficult to serve as there are costly barriers. Implementing a gradual price decrease will slowly lower Gold Plus into the economy level tier without adding an entire new Kodak line. Compsny Plus is the premium brand film and is developed to target average consumers who are already Kodak-loyal or seeking quality photos over price.
Technological competence of the existing players and culture of innovation and development in the industry. By phasing Filmm Plus into the lower end, we can compete in both the high and low-end market. They wanted to keep their high quality image while competing in the low end of the market as well.
Those wishing to potentially enlarge the photo will have a finished product that is so crisp they will have the peace of mind in knowing it will not jeopardize the integrity of the picture. This would turn the product into a dog, and over time, would be fully eastmsn. We are going to introduce Royal Gold to replace the current film, Ektar, in the high-end segment.
Dolan Eastman Kodak has suffered significant declines in film market share at the hands of lower priced branded producers and private stuey products. Film had become a commodity product to most consumers, and there was little customer loyalty to any particular camera film brand.
By educating customers, Kodak is able to both lock-in the loyalty of current customers, sustain its competitive advantage, and find additional ways to attract more new customers.
Market research is extremely important in knowing what next steps a company should take, and how to create a strategic business plan. Pinpointing the idea that the average picture taker can take a picture like a professional, without being targeted to professionals.
Your Answer is very helpful for Us Thank you a lot! Order Now – Eastman Kodak Co.: Problem Analysis Kodak offered three product lines to target various market segments as a part of their Funtime strategy to regain market share. However, it seems that Kodak lacked fubtime differentiation strategy and had not communicated to consumers how its products were positioned positively, relative to those of its competitors.
They stated their superpremium, premium and economy lines but did not take time to educate the consumers of the difference between the three lines and how they differentiated from their competition.
Kodak Major Case Essay Example for Free – Sample words
Other companies, such as Fuji and Polaroid, had dog products, and were fighting to become cash cow products. Accessed May 22, Instead of only okdak on repositioning their film, they should have also tried to advance the technology of their cameras. They planned to introduce Funtime film, an economy brand film, which targeted the price sensitive consumer.
Understanding the different needs and relative value of your offering by segment. Funtime Film products various on factors such as —. By spending more time on analyzing current trends and advancing technologies, Kodak could develop products that would help it recover lost market share and become a dominating force within the industry.
Eastman Kodak: Funtime Film by Tí Con on Prezi
This helps is building a narrative that a customer can identify with. Identifying and selecting actionable value creation options.
Sorry, but copying text is not allowed on this site. As a result of consumers being uneducated in the film market, the general hesitation of purchasing film will come from being unaware of the benefits each film provides. Had Kodak responded to this with more immediacy, its market share would not have dropped so significantly.
Eastman Kodak Co.: Funtime Film
If you contact us after hours, we’ll get back to you in 24 hours or less. Although the market was searching for caxe product from Kodak that would be introduced in the economy brand, Funtime was unsuccessful.
Graphically displaying value differences for deeper understanding and better internal communication. This strategy does not solve their problem of competing with their competitors.