EASTMAN KODAK COMPANY FUNTIME FILM CASE STUDY
Moreover, investing its time Kodak 10 and money on proper product development and analysis will allow Kodak to grow within the developing market. Sorry, but copying text is forbidden on this website. Marketing Management 13th Ed. There are a combination of numerous actions and considerations that every businessman or company should be ready to encounter. Get a custom sample essay written according to your requirements urgent 3h delivery guaranteed Order Now.
It is evident that there is high demand for films in the U. They never received any major competition until Fuji began to attack their market share in the s, when they were announced as the official film sponsors of the Summer Olympics in Los Angeles, Kodak 3 California. This paper seeks to illustrate the different situations in the market that a product may face and strategies taken in order to keep the company making sales as well as maintaining its market share. Now that Gold Plus has been on the market for a while, it is now in the maturity stage of its life cycle, as sales have begun to stabilize. Let us first examine customer behavior and what influences them to buy different products. Also, seeing in recent years that Costco has become a very common place for consumers to have their rolls of film developed, and frequently sells film rolls in value packs, it seems to be a one-stop-shop for families who are constantly on-the-go.
Kodak Major Case Essay
Using our plagiarism checker for free you will receive the requested result within 3 hours directly to your email. They should have immediately started discussion strategies on repositioning themselves to avoid the competition absorbing their market. They stated their superpremium, premium and economy lines but did not take sgudy to educate the consumers of the difference between the three lines and how they differentiated from their competition.
To solve its main problem, not foreseeing and adapting to market changes, we propose five alternative solutions: Most wholesalers would not necessarily be likely to commit to an exclusive partnership to funtimf particular brand in this case, Kodaksimply because they limit their own product availability, and therefore cut into their own sales.
Eastman Kodak: Funtime Film by Tí Con on Prezi
The company must focus equally on both the present and the future. Fastman still has a challenging task in keeping its position as the leading company in film supplies. Kodak had dominated the photo film market for most of the s until competitors like Fuji began taking market share from Kodak in The average number of rolls bought per year was 15 with different households differing in film usage rates. This would further cut into company revenues, making it more difficult to return from a decline in stock price.
This is especially so when the product comes with a lot of advertising to describe its benefits and features. Je moet ingelogd zijn om een reactie op dit onderwerp te kunnen geven.
Because Kodak was only selling this product during the off seasons, Funtime could never become a cash cow. 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.
Kodak was desperate to recover some of the market share they had recently lost and implemented a new strategy to help recapture some of their market share.
Had Kodak responded to this with more immediacy, its market share would not have dropped so eastmwn.
Kodak should have quickly determined whether the Funtime Film Kodak 9 would develop into a cash cow or dog. Customers will always look at price before purchase. This is according to Mierau Fi,m should be done through market surveys and comparison between other companies and also previous programs.
Recommendations for Kodak.
Educating consumers, promoting benefits of Kodak and showing the attributes important in the Gold Plus as well as the Royal Gold funtiime will lead consumers to the correct product. With a hour delay you will have to wait for 24 hours due to heavy workload and high demand – for free.
The innovation of Royal Gold coming from Ektar, which was originally targeted to professionals, adds confusion to the average photographer, assuming the consumer must be a professional to purchase the product. Prior to this strategy, Kodak offered only two product lines, Ektar, their superpremium line, and Royal Gold, their premium line. The Funtime strategy was a last chance effort to regain market share and compete with private label brands.
This paper examines the various aspects of factors affecting consumer decision that are significant in the case study. Because perception is reality, it is important for Kodak to position its brand as a product of high value. The biggest disadvantage in implementing this, however, would be the risk of product failure. Kodak was used to the large profit margins on film and could not rationalize cannibalizing their own profits by lowering costs due to their rigid management before the whole industry lowered prices.
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Because of the recent upward trend with consumers buying in stydy, wholesale retailers were gaining more loyal customers on a daily basis. Royal Gold particularly could attract more customers due to its distinctive picture quality. We will write a custom sample essay on Kodak Major Case specifically for you.
Hi, I am Sara from Studymoose Hi there, would you like to get such a paper? Click to learn more https: Your Answer is very helpful for Us Thank you a kodakk 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.
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