Gold Plus is the dependable film for irresistible times thereafter when the baby is constantly photographed. The Funtime strategy was a last chance effort to regain market share and compete with private label brands. The company must focus equally on both the present and the future. Because Kodak was only selling this product during the off seasons, Funtime could never become a cash cow. In mature markets the profitability is often stable but the market potential is less as most of the players have already taken market share based on the segment they are serving. Market potential of Eastman Kodak Co.:
The better the insight more are the chances of connecting with the potential customers. This way, both products will be positioned better, in that we will be competitive in both areas. Sorry, but copying text is forbidden on this website. This, in turn, means greater long-run returns for the firm. 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. In order for a product to still succeed in the Kodak However, had the company spent more time on researching the camera film industry, it might have noticed that developing another cash cow product was not intelligent.
To solve its main problem, not foreseeing and adapting to market changes, we propose five alternative solutions: If you contact us after hours, we’ll get back to you in 24 hours or less. Instead, we will drop prices once or twice a month over the course of a year. The crucial role of eqstman perceived value in acquiring and retaining profitable customers.
Kotler explains – Marketing is a process by which organizations can create value for its potential and current customers and build strong customer relationships in order to capture value in return.
Kodak Major Case Essay
Those wishing to potentially enlarge the photo will have a finished product that is so crisp they will have the peace of mind in compqny it will not jeopardize the integrity of the picture. Mailing out coupons is another great cass of advertising. How to cite this page Choose cite format: They wanted to keep their high quality image while competing in the low end of the market as well.
Still allowing Kodak to have a distinguished brand image over competitors in the economy brand, this would place Gold Plus as a premium brand competing with competitors of the economy level.
Eastman Kodak: Funtime Film by Tí Con on Prezi
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. Gold Plus advertisement will focus on the value of everyday quality film. This strategy does not solve their problem of competing with their competitors.
Pinpointing the idea that the average picture taker can take a picture like a professional, without being targeted to professionals. By phasing Gold Plus into the lower end, we can compete in both the high and low-end market. They planned to introduce Funtime film, an economy brand film, which targeted the price sensitive consumer.
This would further cut into company revenues, making it more difficult to return from a decline in stock price.
Film had become a commodity product to most consumers, and there was little customer loyalty to any particular camera film brand. In order for east,an product to still succeed in the Kodak Accessed May 22, 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 how they differentiated from their competition.
Kodak Major Case Essay Example for Free – Sample words
There is not necessarily an inherent benefit for wholesalers with exclusivity. By partnering with Costco, for example, Kodak could become its exclusive film partner.
Gold Plus no longer has csse power of setting the price due to the lack of market share and position in the product life cycle. 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.
Send your data or let us do the research. 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.
The Funtime strategy was a last chance effort to regain market share and compete with private label brands.
Sorry, but copying text is forbidden on this website! We are going to introduce Royal Gold to replace the current film, Ektar, in the high-end segment. Because Kodak was only selling this product during the off seasons, Funtime could never become a cash cow. Shortly after the economy aanalysis market began to form, Consumer Reports released a quality test of the top 6 films in the market.