The reason behind this is quite obvious: With the correct promotional strategy, the education will be suited for the target market, resulting in a satisfied consumer. 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. The key to a successful business is focusing on the present product, while spending time on researching and developing the future product. Educating consumers would likely only work best when paired with another alternative solution. Hi there, would you like to get such a paper?
This was viewed in different ways as it could also lead to loss in customer loyalty. No marketing costs are involved in this strategy and therefore it does no cost the company much. New entrants into the market and rising of existing players are solely responsible. OLED displays, imaging sensor solutions and optical products to other manufacturers. Royal Gold will be available for purchase in a variety of forms. Shortly after the economy film market began to form, Consumer Reports released a quality test of the top 6 films in the market.
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 stdy they differentiated from their competition. Top six brands scored 92 — 95 out of with Polaroid High definition taking the lead. According to the Vice president and general manager of Kodak imaging in U. Alternative Solution 5 We believe that a combination of Alternative Solutions 2 and 3 would be an effective solution for Kodak.
They should stud immediately started discussion strategies on repositioning themselves to avoid the competition absorbing their market. Kodak’s Downfall Wasn’t About Technology 15 Jul Given that Kodak’s core business was compay film, it is not hard to see why the last and derives significant revenues from document solutions. We are going to introduce Royal Gold to replace the current film, Ektar, in the high-end segment.
Eastman Kodak Co.: Funtime Film
Therefore, we want to enter a more profitable market segment. By educating consumers, they. Kodak did not take time to distinguish themselves from this new competition but simply relied on their trusted brand name they had built in the years prior.
Kodak launches the Royal Gold and the Funtime film with the hope of capturing new markets. Choose a Membership Plan.
Eastman Kodak: Funtime Film by Tí Con on Prezi
If you need this or any other sample, we can send it to you via email. The major inconsistency with implementing this new strategy was the lack of advertising spent by Kodak; they offered no support and a lack of commitment to Funtime.
Competition brings in the issue of consumer behavior: Instead of allowing Gold Plus to completely diminish from the market, diffusing it into the economy tier will still give Gold Plus a competitive edge. How about receiving a customized one?
Pinpointing the idea that the average picture taker can take a picture like a professional, without being targeted to professionals. Kodak has easman offered a private or economy film line like many other competitors have.
Accordingly, the star products Gold Plus and Royal Gold would be funded and, ultimately, further promoted. Kodak should have quickly determined whether the Funtime Film Kodak 9 would develop into a cash cow or dog.
The Funtime strategy was a last chance effort to regain market share and compete with private label brands.
Kodak offered 3 main lines of film but did not educate the customer on the difference between the lines. How about getting cawe access immediately? Let us first examine customer behavior and what influences them to buy different products. Every customer has different needs and will only purchase products that bring in maximum utility at the least possible cost. Funtime Film — Case — Harvard Business School Eastman Kodak has suffered significant declines in film market share at the hands of lower priced branded producers and private label products.
This is partly funtiem most consumers do not buy as much from the middle segment.
Recommendations for Kodak.
If you need this sample for free, we can send it to you via email Send. If Kodak 6 Kodak were to partner successfully with filn like this, the company would be able to gain further market share and sales, because people would increase their recognition of this particular brand, and could become the go-to brand for most. Funtime became a question mark product, liquidating revenues made by the existing cash cows.
A commercial representing Royal Gold as well as Gold Plus is necessary to show the perk of each product. It faces stiff competition from other players in the market providing the same commodity. Every company wants to win customers to themselves and will do that using all possible manner including providing lower priced versions of the product.
Je moet ingelogd zijn om een reactie op dit onderwerp te kunnen geven. However, if this solution were implemented, the likelihood of making a large impact on its own market share would be minimal if implemented by itself.