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. Estimate the current stage in product life cycle and its implications for marketing decisions for the product. Untapped market sizes and barriers to both enter the market and serving the customers. Market potential of Eastman Kodak Co.: Funtime Film case study written by Robert J. Leave your email and we will send you an example after 24 hours
Coupons create brand recognition and make customers feel like they, personally, are receiving a great deal. Instead, we will drop prices once or twice a month over the course of a year. Sorry, but copying text is not allowed on this site.
Eastman Kodak Co.: Funtime Film Marketing Strategy Analysis & Solution
They introduced the Funtime Strategy. We make the greatest data analywis. Gold Plus has already experienced its peak times of sales during the introduction and growth stages. Film, at this point, had not been sold in larger wholesale packs, and was being sold primarily in smaller groupings, at general retail facilities. Prior to this strategy, Kodak offered only two product lines, Ektar, their superpremium line, and Royal Gold, their premium line. Untapped market sizes and barriers to both enter the market and serving the customers.
Accordingly, this education needs to be aided by proper market analysis, so that Kodak is able to foresee market trends, and is able to react accordingly. This strategy does not solve their problem of competing with their competitors.
This helps is building a narrative that analywis customer can identify with.
This would turn the product into a dog, and over time, would be fully liquidated. In this strategy, Kodak would offer 3 lines of film superpremium, premium and economy.
Apart from selling within wholesale retail locations, another way to regain lost market share is to better educate consumers regarding camera film. The case presents Kodak’s proposal to launch a new economy brand of cxse to kodka these rivals. In doing so, this would be a great way for Kodak to tap into market share that had not yet been touched.
Kodak Major Case Essay Example for Free – Sample words
Leave your email and we will send you an example after 24 hours Therefore, we want to enter a more profitable market segment. Because Kodak was only selling this product during the off seasons, Funtime could never become a cash cow. By educating customers and anticipating future market trends, not only is Kodak able to retain its loyal analysiz, but positively position themselves in the minds of non-Kodak-loyal film consumers, anapysis well.
Moreover, investing its time Kodak 10 and money on proper product development and analysis will allow Kodak to grow within the developing market. Some foreseeable cons with this solution would be the costs incurred from holding inventory and phasing out a product.
By selling within these types of stores, kocak were more likely to succeed because this was a retail niche that was evolving, and would give particular brands and products more consumer recognition.
Developing a positioning and launching strategy. However, we cannot go about this by simply dropping the price of Gold Plus immediately.
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. Their competition capitalized on the market changes and private film companies began offering lower cost film of comparable quality.
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.
Your Answer is very helpful for Us Thank you a lot! Although the market was searching for a product from Kodak that would be introduced in the economy brand, Funtime was unsuccessful. The consumer was not educated in the differentiation between the superpremium Royal Gold, premium Gold Plus, and economy Funtime.
This way, both products will be positioned better, in that we will be competitive in both areas. 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.
Sorry, but copying text is forbidden on this website! 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. Pinpointing the idea that the average picture taker can take a picture like a professional, without being targeted to professionals.