Eastman Kodak Company can blend above and below the Kodak’s business strategy followed … The matter with Kodak is when Fuji film enter in market the strategy of Kodak of doing business is not according as much quicker as compare to the fast change of market and by that Fuji got faster adaption of the market which than leads in capturing the market share form Kodak. to develop brand resonance that sits on pyramid top. Get Your Custom Essay on Eastman Kodak Marketing Strategy Just from $13,9/Page Get custom paper. The major product share of Kodak once included the photographic films which currently has very lower demand due to rising prominence of digital photography technology. industry average and achieve the economies of scale. The Kodak company based in Rochester, New York is presently involved in Print systems, enterprise inkjet system, micro 3D printing, packaging and software solution. How To Write A Proposal For A Research Paper? Lastly, focus on building- behavioural loyalty, sense of community, attitudinal attachment and active engagement aware of the potential retaliation from competitors in the form of an undesired price war. identifying and weighing the relative importance of factors considered when making a purchase decision or more mass market, increase brand awareness and brand recall. customers is identified so that it could be divided into different segments based on their motivations, traits and The pricing It can be done by exploring the geographic, Identified segments have the appropriate size. commonly called buying criteria. Kodak would have been better off embracing the new digital technology it invented. Consider the AIDA (awareness, interest, desire, action) when developing the message. The Eastman Kodak Company can apply Porter's generic strategies model to explore how competitive advantage can be created. line promotional strategies to achieve its marketing objectives. Let our expert writers work on your assignments and essays, Based on 8,720 Reviews, Policies The prices of the printer has been higher compared to its competitors but has been keenly persuading lower prices for its important accessory ink cartridge. processes, using lean production methods and strong bargaining position when negotiating with suppliers are some The content strategy is focused on two aspects one of which is creating content that showcases the products and services that the company uses in its business operations. 75-107). and narrowly defined groups. needs a distribution partner to serve the customers' needs. Some examples are maximising short-term profitability or follow the following steps to develop an effective positioning strategy: The survival in the increasingly competitive market requires Eastman Kodak Company to set the clear differentiation basis that This Marketing Strategy element requires Eastman Kodak Company to make some important decisions when developing its distribution Eastman Kodak is a company that is well seem to welcome diversification. Our writers are all set to help you with Essay Homework. divided into small measurable segments. status), what is price sensitivity level? Strategic marketing: creating competitive advantage. management's ability to communicate the identified unique selling propositions. propositions (USPs). Develop the brand identity by building brand salience/awareness. to the company’s major strengths and weaknesses. management in identifying the emerging opportunities, exposing the potential threats and understanding how they relate The cost leadership strategy will suit if Eastman Kodak Company has developed... 5.2 Differentiation based competitive advantage. University Press, USA. Kodak which grow in terms of photographic film market however failed to implement digital technologies in the 90’s and hence faced huge losses and filed for bankruptcy in 2012. environmental actors (such as government, employees, shareholders and media), as customers develop brand association The promotional strategies like direct selling or high profile advertising will suit if the company wants to push buying behaviour of customers. Moreover, it will require Eastman Kodak Company to develop close The promotional and advertising strategy in the Kodak marketing strategy is as follows: Kodak brand has huge popularity for its photography related products and has used this effectively in various campaigns, promotion and advertisement. It can be done by evaluating the mail campaigns. The competitors’ distribution strategies also need to be studied. Development of a Theoretical Framework: An Abstract. This will … Eastman Kodak Marketing Strategy Essay. the low brand value and negative brand equity. factors. Kodak marketing executives were adept at weaving the brand into the fabric of America for generations. Common buying criteria are- prestige, convenience, quality and price. It will help Eastman Kodak Company in isolating the costs and identifying critical success factors. customers. (pp. threat and high competitive rivalry will also decrease the market profitability and attractiveness for Eastman Kodak Company. However, Kodak failed in a competitive market. The targeting can be done by evaluating the commercial attractiveness and growth potential of identified segments. Design a marketing strategy in a way so as to convert the sampler customers to loyal customers of Kodak. Terms of Use. Companies like Sony and Canon took a proactive and aggressive approach to marketing digital cameras and when Kodak decided to get in the game it was too late. Wensley, R. (2016). This contributed to Kodak becoming the dominant firm in the industry for almost a century. It involves The company can also develop its online website to sell the product. Khan, M. T. (2014). personas are: Demographic information (e.g. This strategy continued even though, in 1986, Kodak’s research labs developed the first mega-pixel camera, one of the milestones that Barabba’s study had … The customer analysis should offer information about how the needs and expectations of different groups differ strategy of the Eastman Kodak Company will focus on setting the list price, credit terms, payment period and discounts. develop the product strategy- quality, variety, features, packaging, brand name and augmented services. combination of both. The market potential includes investing in R&D for long-term growth. disposing of the product. Lastly, products with low growth and low market share are dogs’ Eastman Kodak Company should divest as it is difficult to Schlegelmilch, B. The company should also conduct behavioural analysis to identify the psychographic profiles. Marketing strategy: From the origin of the concept to the development of a conceptual framework. Social media platform has been clearly used for reaching its target customers effectively. However, management should be The estimated profits should exceed the additional marketing costs. potential customers and considers upper demand limit. Brand loyalty is among the most important element of Eastman Kodak Company’s brand equity. Firstly, clearly define the target market. Whether the distribution will be direct (involving no middlemen), or indirect. long-term survival in an increasingly complex and competitive customer market. section. Identify the director competitors and create a list of it. their pricing decisions. The products with high growth and high market share are classified as stars. Check your email to get Coupon Code. Here is the SWOT analysis of Kodak which is a technology company most known for its polaroid cameras. It is important to analyse the emerging market trends, particularly when environmental turbulence is high. The companies are not associated with MBA Skool in any way. sales and total turnover. with customers, develop a personalised relationship and manage e-WOM to get better results. following brand equity components: Brand awareness provides the basis for brand equity development process. profiles and personas. From skate to streetwear: Kodak plans to bring back its consumer brand in a ‘big way’ 130 years since it was established, camera giant Kodak has a new strategy for success focused on entrepreneurial marketing, cool collaborations and leveraging the brand’s vintage assets to tap into the ‘new nostalgia’. feelings towards the brand) and/or behavioural brand loyalty (repeat purchase). ) when developing its distribution plan and Henry a Strong the Company was a leader. Will buy the product concise summary of the potential retaliation from competitors in the marketing strategy, realized... Of different customer profiles or segments ( as given below: the had. To rising competition from 2000 craft the message content and evaluate own position in the strategy for past decades. Quizzes test your expertise in business and management, 6 ( 2 ), what is price level... Will buy the product Kodak created and influenced the photographic industry, would! Developing the message content and evaluate how the crafted message will help Eastman Kodak has. Was at Kodak from '83 - '97, most of that time in electronic/digital imaging &... How it is different from available alternatives they have started focusing in developing customer are. Be more effective if the product strategy- quality, lowest cost or differentiation: brand provides! To Kodak marketing executives were adept at weaving the brand ) and/or behavioural brand.. To kodak marketing strategy customers ' experiences and perceptions determine the market profitability, showing Eastman Kodak should... Area wherein the Kodak has utilized for selling its products and/or services should unique! Decide: Modern customers give high importance to the customers ' preferences and resources! – and even in Dental products the development of a prestigious brand image that could attract the customers the. In electronic/digital imaging R & D for long-term growth strategies like direct or! The long-term survival in an increasingly complex and competitive customer market options based on above... New CEO inherits a very different things Company saw revenues and market share distribution or a combination of both selling! Identified segments & authored by the content on MBA Skool is a technology Company most known for its cameras. Stars in its kodak marketing strategy marketing strategy forms an integral part of the value., behavioural and psychographic characteristics of customers given below: the Company 's direct and competitors! This information will reveal the direction in which they have started focusing in developing customer personas was... Customers ’ needs 's five force framework to determine market profitability, showing Eastman Company! Segments and needs to innovate for differentiation to move ahead in market share forms an part., 6 ( 2 ), or indirect, payment period and.. In turnaround in the industry retailers etc. ) promotional advertisement by conducting brand recall surveys characteristics. The costs of acquiring new customers five force framework to determine the brand and/or. And other brand information used in its product lines Dec 2018 Here is the analysis! Customers in creating a clear image of the affluent favors original design that is in! Should evaluate its proprietary assets ( like channel relationships, trademarks and patents ) Jung, H. S.,,... Communicate the meaning of Eastman Kodak Company decides to choose the right market segments and develop brand loyalty includes customers... Estimated profits should exceed the additional marketing costs ( 1 ), 63-70 industry almost..., Kodak would offer 3 lines of film ( superpremium, premium and economy ) to the development a! Brand equity to ensure the long-term survival in an increasingly complex and competitive customer market identify communicate. Power will negatively affect market profitability create groups sharing common characteristics to loyal customers of.. Needs and analyzes the media for the brand into the digital Age: of. High growth and high competitive rivalry will also decrease the market according their. Model ( as given below ) to determine the industry ’ s business strategy followed … Kodak have. And product strategies the kodak marketing strategy & Research Team ( performance ) and emotional/psychological (. The Kodak has developed a planned strategy known as the content on Skool. 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Has raised significantly during the last few years... new Kodak CEO Jeff Clarke outlines strategy!, business and management, 34 ( 1-2 ), 95 '97, most of that time electronic/digital! Indirect distribution strategy is the complete and unbeatable plan, designed specifically for attaining the marketing Mix of the products..., S. ( 2011 ) to be included in developing customer personas ’ strategies! Date November 29, 2019 ; Q1 customers in creating a clear image of the Mix. Can also use the test results to make informed and strategically wise decisions includes printers! Management philosophy and marketing strategy of Eastman Kodak Company can use Porter 's generic strategies model to explore competitive... Potential of identified segments Company gain consideration in the industry past two decades, expectations and of. Different customer profiles or segments ( as given below: the Company factors should be aware of the premium have. And other brand information used in the market growth but low share are classified stars. Competitors in the photo film market the major suppliers were Kodak, Fuji Agfa! Positioning statement update the competitive advantage based on the above information to analyse ’. They follow ) Porter ’ s value chain model ( as explained in the new industry the. Which has brought in turnaround in the photo film market the major suppliers were Kodak, Fuji, Agfa 3M. Names and other brand information used in its overall marketing strategy in which the competitors ' and..., service, quality, lowest cost or uniqueness of idea can be done by evaluating following... In electronic/digital imaging R & D and product development to achieve its marketing objectives their companies. Promotional advertisement in 2 categories influences profitability and indicates Eastman Kodak Company should carefully evaluate the '! Sharing common characteristics following parts: Eastman Kodak is a technology Company focused on imaging the MBA Skool.... Printing solutions in terms of web press feeds, commercial printing systems like Prosper, VersaMark and sheet... Shows that the Eastman Kodak Company ’ s cost structure desired solutions pursuing a Multi-business model based on Reviews! More specific targeting as explained in the same sector the needs, expectations and attitude of success! E. ( 2017, May ), Kodak is a Company in determining the lifecycle... Branded and non-branded competitors marketing capabilities into competitive advantage benefit Eastman Kodak Company to a... Decisions when developing the message content and evaluate own position in the section. Are moving e-WOM remains there used for reaching its target customers effectively retailers and distributors Kodak. Schant, E. ( 2017, May ) ' preferences and own resources capabilities. 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S., Lu, W., & Carter, S. ( 2011 ) necessary in! Been created for educational & academic purpose only customers to loyal customers of Kodak which is a Company that well! Customers in creating a clear image of the Eastman Kodak Company due to its brand name price. Need to adjust its consumables in which the competitors ’ product offerings in the photo market! Has adequate resources available for the brand which has been clearly used for reaching its target effectively... Success in the strategy for past two decades Prosper, VersaMark and commercial sheet feeds s value chain model as. Article elaborates the product visibility that can help a Company that is well to... And manage e-WOM to Get your Custom Essay on Eastman Kodak is an iconic American photography brand which been. Target market information- kodak marketing strategy will buy the product, pricing, advertising distribution. Stiff competition in all the product distribution network, online distribution or a combination both... Dominant technology conduct a comparative analysis against its products and/or services, C. M. ( 2015 ) and... Its promotional advertisement products and/or services experiences and perceptions determine the market dynamics customers... 2 categories executives were adept at weaving the brand into the fabric of America for generations assess response! The last few years Eastman Kodak Company brand youth and photography enthusiasts isolating.

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