Kodak believed their dominance and customer loyalty would continue to carry them as new competitors entered the market and as film prices were beginning to fall. 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. With a good example of Kodak fighting to maintain its top position in the U. The purpose of this paper was to try and explain the various aspects of marketing in acquiring and maintaining market share. This late response resulted in a rapid loss of market share. Accordingly, the star products Gold Plus and Royal Gold would be funded and, ultimately, further promoted. Get access to our huge, continuously updated knowledge base The next update will be in:.
They planned to introduce Funtime film, an economy brand film, which targeted the price sensitive consumer. The fact that the top six films sampled got almost the same quality scores could mean they are of nearly the same quality. Kodak launches the Royal Gold and the Funtime film with the hope of capturing new markets. Film had become a commodity product to most consumers, and there was little customer loyalty to any particular camera film brand. There are several retail outlets that carry Kodak products so purchasing the new line will not be difficult or hard to find. 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. Funtime was the only film in this brand tier to be offered only at off-peak film use times and only packaged in value packs.
Accordingly, the star products Gold Plus and Royal Gold would be funded and, ultimately, further promoted. How about make it original? Whereas people may not need to buy films during these particular seasons, Kodak will lure them to buy through the cheaper brand on offer.
Eastman Kodak: Funtime Film by Tí Con on Prezi
It seemed that the economy line was introduced too late to recover the shares that were lost. Eastman Kodak — Strategy Vault. It faces stiff vuntime from other players in the market providing jodak same commodity. It seemed as if Kodak believed that people would not buy another film other than Kodak. Moreover, in the case study, we are told that Kodak offered three types of films: However, Konica director of marketing called it a desperate move to regain market share and not to make the industry profitable.
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An emulsion technology would be used and three films would be offered. By partnering with Costco, for example, Kodak could become its exclusive film partner.
The Funtime strategy was a last chance effort to regain market share and compete with private label brands. Wholesale retailers, like Costco, are extremely popular and well-trusted.
tuntime By selling within these types of stores, companies were more likely to succeed because this was a retail niche that was evolving, and would give particular brands and products more consumer recognition.
There is need to understand that all customers are not the same both financially and in term of their tastes and preferences. The average number of rolls bought per year was 15 with different households differing in film usage rates.
Harvard Review Case Study: Eastman Kodak Company: Funtime Film Essay Sample
All Materials are Cataloged Well. It would be offered in the two most popular speeds ISO and get no advertising support and would be available in limited quantities.
The distribution will be allocated in amounts that will maximize profitability and will be attractive to customers who are selective in where they buy film. Kodak believed their dominance and customer loyalty would continue to carry them as new competitors entered the market and as film prices were beginning to fall. Choose an optimal rate and be sure to get the unlimited number of samples immediately without having to wait in the waiting list.
With the correct promotional strategy, the education will be suited for the target market, resulting in a satisfied consumer. This is partly because most consumers do not buy as much from the middle segment. Sorry, but copying text is forbidden on this website.
Kodak Case Study Solution – 454826
Often times, dog products should be divested. Promotion In order to regain market share, it is important for Kodak to advertise the benefits of Royal Gold and Gold Plus film. The reality was that the film industry was slowly declining, people viewed photography as a commodity and they were just on the cusp of Kodak 5 the digital era.
In this strategy, Kodak would offer 3 lines of film superpremium, premium and economy. Alternative Solution 5 We believe that a combination of Alternative Solutions 2 and 3 would be an effective solution for Kodak.
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Kodak was reluctant to come to terms with this new reality. Apart from selling within wholesale retail locations, another way to regain lost market share is to better educate consumers regarding camera film.
In turn, customers will purchase Kodak film and avoid post-purchase dissonance. Royal Gold will be available for purchase in a variety of forms. Whichever the product in question is, there are a combination of factors eatsman be put on the table for consideration. To solve its main problem, not foreseeing and adapting to market changes, we propose five alternative solutions: A commercial representing Royal Gold as well as Gold Plus is necessary to show the perk of each product.