1. INTRODUCTION I NTRODUCTION OF COMPANY
American technology company Eastman Kodak Company , commonly known as Kodak , is an American focused focused on imaging imaging solutions solutions and services services for businesses. businesses. The company company is headquartered in Rochester, New York , nited !tates and incorporated incorporated in New in New "ersey. "ersey. #t was founded by $eorge %astman in &'''. (odak provides provides packaging, functional printing, printing, graphic graphic communicati communications ons and professional services for businesses around the world. #ts main business segments are )igital *rinting + %nterprise an d $raphics, %ntertainment + ommercial -ilms.
SUCCESS YEAR OF KODAK
(odak is best known for photographic for photographic film film products. products. )uring most of the /th century (odak held a dominant position in photographic film, and in &012, had a 0/3 market share of photographic film sales in the nited !tates. The company4s ubiquity was such that its tagline 5(odak moment5 moment5 entered the common le6icon to describe a personal event that demanded to be recorded for posterity. posterity. (odak began to struggle financially in the late &00/s as a result of the decline in sales of photographic film and its slowness in transitioning to digit digital al photog photography raphy,, despit despitee having having invented the core technology used in current digital cameras. //1 was the most recent year in which the company made a profit. 7owever, (odak ended its most recent fiscal quarter reporting a 8&09 profit. As part of a turnaround strategy, (odak focused on digital photography and digital printing and printing and attempted to generate revenues through aggressive patent aggressive patent litigation. litigation. -rom the company4s founding by $eorge %astman in %astman in &''', (odak followed the ra:or and blades strategy of strategy of selling ine6pensive cameras and making large margins from consumables ; film, chemicals and paper. As late as &012, (odak commanded 0/3 of film sales and '<3 of camera sales in the .!., according to a //< case study for 7arvard =usiness !chool. !chool. TIME OF DOWNFALL
#n "anuary /&, (odak filed for hapter && bankruptcy && bankruptcy protection in the nited !tates )istrict ourt for the !outhern )istrict of New York . #n -ebruary /&, (odak announced that it would cease making digital cameras, pocket video cameras and digital picture frames and focus on the corporate digital imaging market. #n August /&, (odak announced the intention to sell its 1
photographic film >e6cluding film >e6cluding motion picture film?, film?, commercial scanners and kiosk operations as a measure to emerge from bankruptcy. #n "anuary /&@, the ourt approved financing for the compa company ny to emer emerge ge from from bankr bankrupt uptcy cy by mid mid/ /&@. &@. (oda (odak k sold sold many many of its its pate patent ntss for for appro6 appro6ima imatel tely y 8< 8<<,// <,///,// /,/// / to a group group of compani companies es >inclu >includin ding g Apple Apple,, $oogle $oogle,, -acebook , Ama:on,, 9icrosoft Ama:on 9icrosoft,, !amsung !amsung,, Adobe !ystems !ystems and 7T 7T?? under the name #ntellectual Bentures and R*C orporation. orporation. Dn !eptember @, /&@, (odak emerged from bankruptcy having shed its large legacy liabilities and e6ited several businesses. *ersonali:ed #maging and )ocument #maging are now part of (odak Alaris, a separate company owned by the .(.based (odak *ension *lan. #t has also been suggested that (odak originated from the suggestion of )avid 7ouston, a fellow photographic inventor who held the patents to several roll film camera concepts that he later sold to %astman. 7ouston, who started receiving patents in &''&, was said to have chosen Nodak as a nickname of his home state, North )akota >No)ak?. This is contested by other historians, however, who note that (odak was trademarked before %astman bought 7ouston4s patents
EOLUTION OF !RAND LO"O Ea#$y 1%&&'s. (odak is the first company to integrate its name and look into a symbol. 1%(&'s. -ocus moved to the (odak name and the red and yellow 5trade dress5 color. 1%)&'s. The corner curl was introduced. 1%*&'s. The mark retained the red and yellow colors and the (odak name, but a bo6 and graphic 5(5 element were added. 1%+&'s. A more contemporary type font streamlined the (odak name within the e6isting logo. Today. The bo6 is gone, simplifying the logo. The rounded type font and distinctive 5a5 give the name a more contemporary look. (odak is continuing to use this logo with its its sharpened focus on imaging for business.
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,. PRODUCTS OF COMPANY1. !att#/s0 Ca#2#s0 F$as$/2ts (D)A( =atteries are available in wide range of options, so you can find the best battery for your needs. Dur range includes Alkaline, Einc hloride and Rechargeable batteries to keep your favorite and important items F toys, 9*@ players, smoke detectors, flashlights F powered and ready to go when you need them.
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,. Cam#a !a2s and A33sso#/s0 F$as Mmo#y Ca#d Rad#s0 !/no34$a#s (D)A( amera =ags are available in various shapes, si:es and materials to fit a wide range of cameras. Tripods range from 25 to 15. (D)A( ard Readers are available in many configurations; to read most memory cards. (D)A( =inoculars range from small pocket si:e to waterproofGfloatable models. Dther accessories includeH lens filters, wireless shutter releases and led lights.
(. D/2/ta$ Cam#as and Po3kt /do Cam#as The (D)A( *#C*RD )igital )evices are powerful, economical ca meras that give photographers of all levels the confidence they need to make a creative leap forward and find the story in every moment. The *#C*RD ameras are available in three varietiesH compact and easy to use, highpowered :oom and waterproof 7) video cameras.
5. Ey2$ass Lnss These advanced technological lenses optimi:e your sight while ma6imi:ing your look with all the latest styles in frames. 7ead to your local (D)A( Iens Bision entre to have your lenses prescribed and fitted by an independent e6pert.
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6. Ink7t Pap# and Sp3/a$ty Md/a (D)A( *rint 9edia products provide e6citing ways for consumers to share and display their photos and information with easytouse )#Y products and software for the home, school and workplace. The product line includes photo inkJet papers, document papers, specialty inkJet media and software to meet the needs of families and professionals.
). P#sona$/8d and Do34mnt Ima2/n2 The P#sona$/8d Ima2/n2 business markets highquality imaging products and services. *roducts include retail photo kiosks and dry lab systems, traditional photographic paper and workflow solutions, stillcamera film products and digital souvenir photography services and solutions.
The Do34mnt Ima2/n2 business enables customers to capture, manage and deliver data from digital and paper sources. *. R3o#da9$ Md/a As people accumulate more and more digital files data, pictures, videos, music F the nee d for secure, ine6pensive and highquality storage options is rapidly g rowing. (odak provides the perfect solution to your data storing needs offering a large range of optical and digital storage devices and supplies, including flash drives, portable hard drives, )s, and )B)s. Kith these
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products, consumers and businesses have the necessary tools to safely store, access, share and use all forms of content.
(. COMPETITORS ANALYSIS-
(odak has the challenge of reimagining innovation. They are big, with entrenched systems. They have a global presence employing people in over @/ countries and have a dedicated research and development group. 7owever, they donLt always capitali:e on what they invent, the great ideas they come up with. (odak does value its employees and has that as a corporate value. They do recogni:e them for their achievements. 7owever, they are a company that has lost its way. An article in the Kall !treet "ournal >9attioli, /&? says MThe ompany is only the fourthlargest digitalcamera maker in the .!. #n //', Kodak ad 1).): o; t U.S. ma#kt and s/ppd ).* m/$$/on d/2/ta$ 3am#as0 a33o#d/n2 to ma#kt #sa#3 ;/#m IDC. In ,&110 /ts ma#kt sa# ad #odd to 11.):0 and t 3ompany s/ppd (.) m/$$/on 4n/ts. #t has since put its consumer photography business for sale, opting to leave instead of innovates. MA
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Ma#kt Sa# /n ,&1&
Ma#kt sa# /n ,&&)
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Ma#kt sa# /n ,&&6
(odak has been reducing their global workforce for years. #n //@ they moved portions of Rochester manufacturing to hina and 9e6ico. (odak has been restructuring for a long time, and that has an effect in a few social ways and has an affect employee engagement. hapman >/&&? says that a month before announcing bankruptcy Mchief e6ecutive Antonio *ere: was forced to deny impending bankruptcy at a 4town hall meeting4 broadcast to all &0,/// (odak employees worldwide. That announcement along with closings and reductions in workforce must have led to a lack of trust and a workforce that stopped caring. The Kerbach te6t >//0? shares an interview with Kal9art employees and their concerns for sustainability.
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-igure shows us that (odak was struggling with market share before bankruptcy. They owned small slices of the maJor consumer markets they were aiming.
-igure -rom //1 to /&& net profits were nearly none6istent. !o was this a story of Just missing the technology boat or of a lack of sustainable thought. 5. FINANCIAL ANALYSIS EASTMAN KODAK COMPANY R=n4 and F/nan3/a$ Data
Khen (odak made =rownies, folks said, 5heeseO5 Now the inventor of the =rownie camera has abandoned consumer photography altogether to focus on imaging for businesses. (odak, which has staked its future on commercial printing, makes presses and imprinting systems, and technology to print documents, publications, and product packaging for corporate customers. #t also serves the motion picture industry with motion imaging products, services, and technology for studios, labs, and independent filmmakers. -ounded in &''/ by $eorge %astman, %astman (odak emerged from bankruptcy in /&@ as a smaller company focused on commercial printing products and services after shrinking and restructuring its operations. F/nan3/a$ In;o#mat/on ;o# EASTMAN KODAK COMPANY
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A gross profit of company decreasing as in //0 is 8&12' and in //@ is reached to 8&&'. . #n //@ they moved portions of Rochester manufacturing to hina and 9e6ico. (odak has been restructuring for a long time, and that has an effect in a few social ways and has an affect employee engagement. hapman >/&&? says that a month before announcing bankruptcy Mchief e6ecutive Antonio *ere: was forced to deny impending bankruptcy at a 4town hall meeting4 broadcast to all &0,/// (odak employees worldwide.
6. PESTEL ANALYSISPOLITICAL FACTORS•
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The ! government is a very stable government and ! product e6ists in the whole world e6cept for specific countries as #ran and North (orea. ! copyright law requires all photo shops to refrain from printing or releasing digital images taken by professional photographers without a cop yright release #mages taken by amateur photographers may encounter difficulty in having their professionallooking images in printP thus, affecting photo printing sales.
ECONOMIC FACTORS-
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The global economies in the good condition, but the lack of demand for the product negatively affect. )igital camera sales in // amounted to 8.02 billion !), taking a considerable portion of the total revenue of the industry. *rice declines of digital camera made it highly affordable for more consumers, resulting to even greater demands.
SOCIAL FACTORS •
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The lifestyle changes and increased in using mobile phones with cameras and affects negatively on the demand for regular camera. onsumers use digital cameras to send them through electronic mailP most digitallycaptured images are stored for onscreen viewing. =uyers have become more accustomed to buying technologybased products that contain several features such as digital cameras and photocapable cell phones.
TEC>NOLO"ICAL FACTORS •
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Terrible development in mobile phones, compact cameras, leads to the end of the regular cameras. Rapid development in camera products brought about by technology requires considerable investments for highlyskilled staff, marketing efforts and production equipment. New digital cameras must have multiple features that are appropriate to current environment and customer needs
ENIRONMENTAL FACTORS •
(odak has been widely critici:ed by environmentalists and researchers as one of the wo rst polluters in the !. According to scorecard.org a web site that collects information on corporate pollution, (odak is the worst polluter in New York !tate, having released Q,Q@@,1Q0 pounds of chemical into the environment. 11
LE"AL FACTORS •
7ealth and !afety is very important in (odak and all the products are very safe and company with laws of most world countries
). REASON OF FAILURE-
%astman (odak is a pictureperfect e6ample. #t built one of the first digital cameras in &01<. That technology, followed by the development of !martphoneLs that double as cameras, has battered (odak4s old film and cameramaking business almost to death. !trange to recall, (odak was the $oogle of its day. -ounded in &''/, it was known for its pioneering technology and innovative marketing. MYou press the button, we do the rest, was its slogan in &'''. =y &012 (odak accounted for 0/3 of film and '<3 of camera sales in America. ntil the &00/s it was regularly rated one of the world4s five most valuable brands. Then came digital photography to replace film, and !martphoneLs to replace cameras. (odak4s revenues peaked at nearly 8&2 billion in &002 and its profits at 8.< billion in &000. The consensus forecast by analysts is that its revenues in /&& were 82. billion. #t recently reported a thirdquarter loss of 8m, the ninth quarterly loss in three years. #n &0'', (odak employed over &Q<,/// workers worldwideP at the last count, barely onetenth as many. #ts share price has fallen by nearly 0/3 in the past year >see chart?.
-or weeks, rumors have swirled around Rochester, the company town tha t (odak still dominates, that unless the firm quickly sells its portfolio of intellectual property, it will go bust. Two announcements on "anuary &/th;that it is restructuring into two b usiness units and suing Apple
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and 7T over various alleged patent infringements;gave hope to optimists. =ut the restructuring could be in preparation for hapter && bankruptcy. Khile (odak suffers, its longtime rival -uJifilm is doing rather well. The two firms have much in common. =oth enJoyed lucrative nearmonopolies of their home marketsH (odak selling film in America, -uJifilm in "apan. A good deal of the trade friction during the &00/s between America and "apan sprang from (odak4s desire to keep cheap "apanese film off its patch. =oth firms saw their traditional business rendered obsolete. =ut whereas (odak has so far failed to adapt adequately, -uJifilm has transformed itself into a solidly profitable business, with a market capitalisation, even after a rough year, of some 8&.2 billion to (odak4s 8/m. >ERE ARE T>E TOP FIE REASONS FOR KODAK?S DEMISE1. Ca42t /n T/m
(odakLs top management never fully grasped how the world around them was changing. They hung on to now obsolete assumptions about who took pictures, why and when. (odak always thought that people would never part with hard prints and that people valued film based photos for their high quality. #n other words, they saw digital as a direct substitute for film based photography. #t was interesting to see how little this mindset had shifted even / years later. #n the end, digital cameras came to dominate not because they offered higher quality or because everyone was able to or inclined to get a set of hard prints easily, but because they did not feel the need to. ,. E=#y P/3t4# T$$s a Sto#y
Kith digital, a significant shift in mindset occurred in the meanings associated with cameras. Rather than being identified as a piece of purely photographic equipment, digital cameras came to be seen as electronic gadgets. The implications of this shift were enormous. Kith digital devices, newcomers such as !ony were able to bypass o ne of (odakLs massive strengthsH its distribution network. #nstead, digital cameras became available in electronic retail outlets ne6t to other gadgets. (odak was now playing on !onyLs and other entrantsL turf rather than its own. !imilarly, (odakLs brand came to be associated with traditional photography rather than digital. (. !a3k to t F4t4#
M)igital disrupted (odakLs neat equilibrium in yet another important wayP women were no longer the main customers, men were. 13
Kith women giving way to men as primary users of cameras, (odak;which e6celled at marketing to women;lost its footing. Kith digital cameras, images could be viewed on the camera, phone or a * without any need for hard prints. -or (odak, the severing of the link between taking photographs and hardcopy prints was a serious concern. Khile men took lots of pictures, their role had never been that of family archivists >a role reserved for women?. 7ence they tended to take pictures that industry insiders called Mtransient. (odak was in uncharted territory and rather than accepting it as the new reality, it kept trying to recreate the photography universe of yesteryear, one based around sentimental images taken by women at family reunions and vacations. 5. T Cam#a N=# L/s
%ven when the writing was very much on the wall, (odakLs attempts were at best halfhearted. nwilling to let go of the e6tremely lucrative >gross margins of nearly 1/3? film business, it tried for many years to prolong the life of film through smaller cameras and digitally coded film and hybrid technologies such as *hoto ). #ts digital imaging division, locked up in its headquarters in Rochester, always appeared to be under pressure to create synergies between film and digital. =ut doing digital from Rochester was always going to be a challenge. The best e6ample is (odakgallery.com, (odakLs attempt to generate revenue from digital images. The site was essentially a digital version of its ana logue offerings. )igitalLs potential was never fully reali:ed at (odak. 6. O=#@Eposd
(odak did not reali:e its own limitations, and consequently its strategy for revival never had much of a chance. As articulated by the current chairman and %D, Antonio *ere:, it wasH MTo make (odak do for photos what Apple does for musicH help people to organi:e and manage their personal library of images. #n an ideal world, consumers of the future will snap pictures on (odakLs cameras, save them on its memory cards, put them on paper through its printers, and edit them on instore digital kiosks. Trying to engulf the consumer in the (odak universe was always unrealistic. Khereas a company like Apple could probably do it with its design and plugandplay capabilities, (odak could not and it died trying.
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*.MARKETIN" MIB STRATE"Y-
9arketing mi6 can be defines asH grouping elements in the marketing strategy of a company. These elements are product, price, promotion and distribution and also known as four *,s and can be e6plained further more as follows. PRODUCT-
*roduct is the centre of marketing mi6 and other three *, s revolve around it. onsumers buy product and services for different uses and company must be of aware of all these when selling a product. #n case of (odak as with Q different range each with different prices to capture ma6imum market. (odak royal was a premium product, which was used by professionally. (odak spent about Q/3 of the total budget on the product line to attract more and more customers. PRICE-
According to the price aspect of (odakLs marketing mi6, the strengths is that customers may selected the products online with a cheaper price. -or instance, when (odak launched their camera into the market in Russian, they set their camera at a price of &// pounds. The deal is that customers can get &/3 discount if they bought it online which was a good tactics for their business. 7owever, the disadvantage is e6pensive for people who cannot afford it in the beginning of launching the product. #n order to solve this problem, (odak made camera set at a low price and increased the price on the film which this tactics is called Ioss IeadersL. (odak may adsorb some customers from its competitors if this tactics only used in the shortrun. 7owever, it would not make any better for (odak competition in this market, even worse for its survival as customers cannot afford keep using this lu6urious film in a long term. PROMOTION-
-or *romotion they have !ales representatives, !ocial 9edia and Advertisements hannels. *romotion involves providing information to customers about new product or launch via variety of mediums like radio, TB, newspapers, maga:ines, online etc. *romotion is key tool for the success of company DISTRI!UTIONKith over &//,/// outlets in world supplying branded and own label une6posed films, consumers have a wide choice when it comes to choose a supplier. A high proportion of these outlets also handle, film processing and printing orders, either inhouse or b y acting as agents for wholesale processors. Regarding the amateur customer, indirect marketing channels are mainly 15
used. The indirect marketing channels contain three intermediariesP the wholesaler who supplies the distributor and the retailer outlets that are supplied by the distributor)istribution is a channel that delivers the product or service to customers across all regions. (odak !tores generally available at each metro city and online availability is there. Karehouse and other online retailer all over the world. +. CURRENT MARKET SITUATION ANALYSIS OF KODAK NEW PRODUCT DEELOPMENT
9ore immediately, the hope is that this kind of technology can save a &&yearold company emerging from / months of bankruptcy this week. The question of whether (odak can succeed will take years to answer. =ut, sink or swim, the company is now officially entering its ne6t era with a much smaller workforce, dramatically cut costs and a narrower focus on a specific set of markets and offerings. Korldwide licensee for (D)A( )igital ameras and )evices, announce d today its full /&Q line of digital imaging products. =uilding on last yearLs initial launch, this yearLs line up broadens the very successful Astro Eoom =ridge category, introduces all weather, rugged 7) action cameras and makes a technology statement with all new, cutting edge !mart *hone lenses and an affordable option to the highend 9icro -our Thirds camera category. The updated (D)A( *#C*RD suite of cameras will continue to offer consumers a variety of featurerich, long:oom options at very attractive price points. The /&Q Astro Eoom line is highlighted with the flagship 2<6 optical :oom AE2<&. This model retails for a 9!R* of 8@Q0P features a Q mm wideangle lensP &/'/p 7) BideoP @./ articulating I)P D#! and a rechargeable lithiumion battery. The AE2<& is scheduled to go in spring /&<. Additional models in the (D)A( Astro Eoom amera line offer outstanding performance and a wide range of affordable price points, including the AE<&, AE@2 ><6 + @26 optical :oom?, AEQ& >Q6 optical :oom, S /&Q launch? and AE<< ><6 optical :oom plus new Ki-i capability?. 9odels are priced respectively from 8&@0 8Q0 >9!R*?.
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(odak #nstamatic /&Q is a design concept for ne6t generation mobile camera by (odak. The (odak #nstamatic phenomenon is finally entering digital age. This new device combines powerful #nstamatic camera and Android !martphone into one unique device. The years of photography innovation continue now. The entire (odak heritage, simplicity and all the legendary camera features Just on touch of your hands. Tell your stories in authentic (odak colors. se your (odak phone every day. The (D)A( *#C*RD line also includes two new waterproof, free:eproof, dustproof and shockproof &/'/p 7) video devices. The entrylevel !*E& Action amera >8&@0 9!R*? offers @6 optical :oom, &Q 9* 9D! sensor and Bideo #mage !tabili:ation. The company has signed agreements with (ingsbury orp. and ni*i6el #nc. to churn out miles worth of thin sheets of touch sensors at %astman =usiness *ark to be used in screens of consumer electronic devices. The touchsensor module market is e6pected to reach 8@ billion by /&', according to (odak. (ingsbury plans to start building and assembling its silverbased sensor coating equipment this month. ni*i6el is in the midst of installing its copperbased manufacturing site. =oth sensors promise to be far cheaper and boast better touch response than whatLs on the market today. MARKETIN" PLANNIN" Pos/t/on/n2
(odaks marketing decisions imply as by %D in /&Q, the following positioning statementH (odak is preferred by adults who are active, busy and care about meaningful relationships and 17
want to encapsulate and share important moments in their lives, because (odakLs products enable them to capture, share, display, and store pictures and create keepsakes, with more ease than competitors like anon, Nikon, and -uJifilm. P#od43t
(odak fails to offer clear, distinguishing benefits to consumers. The company attempts to position itself as a provider of userfriendly products, typically offering products whose names include the word easy. 7owever, some of (odaks product attributes detract from the credibility of this position. (odak develops products quickly due to its competitive environment. A comprehensive program designed to include all desirable features is nearly impossible due to the speed at which the industry evolves. *roduct types face different risk scenarios depending on their newness to the company and their newness to the market. )igital cameras are familiar to the market and to (odak. Thus, a line e6tension of (odaks digital cameras creates a risk of cannibali:ation and a lack of incremental sales. (odaks new approach to printers, with higher upfront costs and lower ink costs, presents different risks. The product type is new to the market and new to the company, representing a new to the world concept. Thus, the product introduction is at risk of a lack of companymarket fit. sing the economic pricing model, a firm strives to deliver products that demand a price premium over its competitors. =ased on this, we compared the pricing of (odaks core consumer products >digital cameras and inkJet printers?, and its secondary consumer products >digital picture frames and (odak $allery?, to the pricing of its direct competitors in each category. #n the compact digital camera segment, (odaks products are generally priced below the products of its most direct competitors of anon, Nikon, and -uJifilm. -or e6ample, (odak cameras sell in the range of 8'/ to 8&2/, while cameras offered by the competitors sell in the range of 8&&/ to 8/ . %. SWOT ANALYSISSTREN"T>-
&.(odak is identified in favors of bringing high quality brands to its clients, which permissible it to be paid its character. . (odak is capable of influence the standard people in using technological implement like their cameras @. #t serves an e6tensive assortment of consumers, via it giving out strategy of cuisine not Just to those paying attention in photography but also attract common places clients 18
WEAKNESS-
&. %ven though film is grown up brand, it has a comparative enlargement, even if it creates benefits for (odak . (odak has been negligent in watching out for micro and macro surroundings brands that are able to have an effect on company and its incomes. @. (odak ompany moreover got the wrong idea about the quick technical progress that possibly will have easily out of date its brands. OPPORTNITIES-
&. (odak can still stand in advance of other while it comes to the film industry. . #t has also been capable of take a new direction to imaging, aside from photography and its foodstuffs. @. (odak grownups steps the motion pictures industry is by now well establish industry with mass market place the competition between the resident compacts including (odak has been described and there be a high quality competition between them. T>REATS-
&. The strongest threat that forerunner survive well thought out for the industry is the quickly rising market section of the digital replacements. . #nternet is a first class channel for encouraging the company and its services and products it is too a cause of threat for (odak. @. The quick growth of skill and development of the internet might cause the film photography to develop into out of date and be point out from the market place. 1&. RE@ !RANDIN" RE@ POSITIONIN" PLAN STRATE"Y
(odak is a company that has seen very prosperous years and very dark years. =eing a company that consumes a lot of resources in its processes (odak has had environmental challenges and has shown leadership in sustainable thinking.
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(odak has to focus on gaining back its market share from 1/3 back to 123. #f (odak does not work on preventing the loss in growth rate, than -uJi and *olaroid will take over the market of photo films.
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As the brand with largest market share in category dominated by premium brands, (odak should e6ercise the Mhigh road strategy that implies high levels of innovation and Judicious pricing.
#f (odak starts to compete on price, they run the risk of transforming the category into a commodity.
As the 9arket Ieader, (odak should not react desperately to movements of small companies, but it should protect its market.
(odak must align its interest with those of the retailers.
!ell on brand equity and image F promise consumers that although they canLt see perfection, it e6ists (odakLs e6isting buyers are predominantly brandloyal F giving them a lowerpriced (odak branded option could subsume highermargin lines #nstead of Royal $old, disambiguate the two M$old lines and rename %ktar as (odak *latinum and (odak $old *lus as simply (odak $old. =y having $old and *latinum, the company clearly communicates quality differences to the consumer Kiden channels )istribute (odak *latinum through all the channels, not o nly through camera shops.
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Iaunch an advertising campaign that emphasi:es longterm quality over shortterm savings and educate the consumer. The company should focus its efforts on innovation in all product lines, thereby Justifying and maintaining its premium market position. #nnovation is the o nly way (odak can fight their product becoming a commodity. *roduct launches may be supported by promotional activities and materials that further educate the consumer about the superiority of (odak products.
11. CONCLUSION 1. To gain market share and profits, (odak should work on improving its quality and work towards new technology which will result in better performance of the products offered. ,. (odak should scan the market and work on the alternatives so as to launch its products competitive pricing as its competitors (. #t should also adopt effective marketing techniques to capture the market.
Q. The company should focus on adopting new technology so as to higher quality performance. <. (odak also deals in #maging and amera products, (odak should adopt new designs and new technology for its products which will add value to its pricing. 2. )esigning a marketing strategy is a way so as to convert the sampler customers to loyal customers of (odak. This will help increasing Q/3 of new customers. 1. !pecial service and offers should be offered to its premium range customers. '. !can and e6pand the market to different countries such as #ndia , hina which will help in gaining profits and market share.
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