The purpose of this paper was to try and explain the various aspects of marketing in acquiring and maintaining market share. Funtime would come in Value packs of two types: Systems, where I helped integrate digital imaging solutions for law enforcement. Of all the companies supplying film products, there comes out a distinctive goal: More than half of picture takers know little or nothing about photography hence view film as a commodity, often buying on price alone. No marketing costs are involved in this strategy and therefore it does no cost the company much.
Or if you need this sample for free, we can send it to you via email. By partnering with Costco, for example, Kodak could become its exclusive film partner. Kodak has not offered a private or economy film line like many other competitors have. Sending coupons to customers is another way to help Kodak gain back market share in the decreasing market. It faces stiff competition from other players in the market providing the same commodity. Gold Plus is the dependable film for irresistible times thereafter when the baby is constantly photographed. Making coupons available to customers helps Kodak keep their value.
Competition brings in the issue of consumer behavior: Educating consumers, promoting benefits of Kodak and showing the attributes important in the Gold Plus as well as the Royal Gold film will lead consumers to the correct product. Market research is extremely important in knowing what next steps a company should take, and how to create a strategic business plan. Customers were becoming confused due to the similarity between these two names.
Choose a Membership Plan. Therefore, we want to enter a more profitable market segment. Choose a Membership Plan I agree to wait a whole day. If Kodak 6 Kodak were to partner successfully with retailers 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.
Whereas people may not need to buy films during these particular seasons, Kodak will lure them to buy through the cheaper brand on offer.
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If you need this or any other sample, we can send it to you via email. Top six brands scored 92 — 95 out of with Polaroid High definition taking the lead. Due to their lack of capitalization and overconfident mindset, Kodak lost a vast amount of their market. Had Kodak responded to this with more immediacy, its market share would not have dropped so significantly.
It would be wise of Kodak to track the profits where the film is distributed within the first few months after repricing Gold Plus, gauge consumer demand and produce and distribute enough film in order to satisfy the market.
Price While trying to implement an economy brand, Kodak failed when releasing Funtime film.
Apart from selling within wholesale retail locations, another way to regain lost market share is to better educate consumers regarding camera film. In the eyes of the consumers, offering dtudy different product only at certain times of the year, with a lower price, brought down the value associated with Kodak film.
Harvard Review Case Study: Eastman Kodak Company: Funtime Film Essay Sample
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.
No marketing costs are involved in this strategy and therefore it does no cost the company much.
However, considering its change in strategy, dedication to marketing and advancement in technology, Kodak should continue giving its competitors a very hard task. Kodak ignored the new threats until the late s, relying on their market dominance.
S market being the most preferred choice of film.
Kodak has many ways to differentiate themselves from all of these competitors. The fact that the Funtime film comes packaged in Value packs will ensure quick sales since customers will have to purchase at least two rolls at a go. Solution for Perimeter Ocmpany at Eastman Kodak.
Can’t find What you were Looking for? Promotion will help Kodak educate, along with create brand recognition. Kodak still has a challenging task in keeping its position as the leading company in film supplies. Advertisement acts as the means by which a company presents its eastma as the best to buy. Kodak strategy — SlideShare 7 Aug Kodak strategy.
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Moreover, in the case study, we are told that Kodak offered three types of films: Film, at this point, had not been sold in larger wholesale packs, and was being cuntime primarily in smaller groupings, at general retail facilities. Because of the recent upward trend with consumers buying compnay bulk, wholesale retailers were gaining more loyal customers on a daily basis.
Kodak can gain a larger market share by informing the customer what they are gaining from purchasing Kodak film before even entering the store. Gold Plus is the dependable film for irresistible times thereafter when the baby is constantly photographed. This would studt cut into company revenues, making it more difficult to return from a decline in stock price.
Royal Gold particularly could attract more customers due to its distinctive picture quality.