While developing Funtime would have been a great solution given normal circumstances, developing a new lower quality product amidst negative market rumors was a risky move. The market share for lower quality film was not growing and did not generate much cash. The better the insight more are the chances of connecting with the potential customers. Whenever you take a picture, Gold Plus is there for you, always dependable in any situation. 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.
Sorry, but copying text is forbidden on this website. If wholesalers were to commit exclusively to Kodak, per se, then they could lose out on potential sales from consumers who desire the competing film product. Kodak has many ways to differentiate themselves from all of these competitors. 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. This campaign, done through commercials, emphasizes the benefits of buying each Kodak product. Funtime Film products various on factors such as — Maturity of the market. Leave your email and we will send you an example after 24 hours
Eastman Kodak Co.: Funtime Film Marketing Strategy Analysis & Solution
This strategy does not solve their problem of competing with their competitors. Due to negative market rumors, the company intended on creating another cash cow, as to maintain its market share. However, we cannot go about this by simply dropping the price of Gold Plus immediately. If you contact us after hours, we’ll analysiss back to you in 24 hours or less.
Because many uneducated customers simply buy based off of price alone, Kodak needs to inform customers why they should pay the premium price, and what benefits come along with paying that premium.
This way, both products will be positioned better, in that we will be competitive in both analtsis. Because Kodak was only selling this product during the off seasons, Funtime could never become a cash cow. Dolan will comprise following sections —. Market research is extremely important in knowing what next steps a company should take, and how to create a strategic business plan.
Their competition capitalized on the market changes and private film companies began offering lower cost film of comparable quality. 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. Clearly, Kodak should have had a rapid response to this threat. New players have to go for market share strategies in marketing.
It is in the privately owned shops that single rolls of film will be purchased more frequently.
To solve its main problem, not foreseeing and adapting to market changes, we propose five alternative solutions: How about make it original? By educating consumers, they. Instead of allowing Gold Plus to completely diminish from the market, diffusing it into the economy tier will still give Gold Plus a competitive cas.
Kodak Major Case Essay Example for Free – Sample words
Had Kodak responded to this with more immediacy, its market share would not have dropped so significantly. Analgsis biggest disadvantage in implementing this solution, however, would be in securing a mutually-beneficial partnership with a wholesale retailer. Those wishing to potentially enlarge the photo will have a finished product that is so crisp they will have the peace of mind in knowing it will not jeopardize the integrity of the picture.
Funtime Film Market potential analysis comprises evaluating the overall market size of the related product that kodwk firm cxse planning to launch. They are just awesome. The key to a successful business is focusing on the present product, while spending time on researching and developing the future product.
Royal Gold will be targeted to a broader customer base.
Uncovering the current and untapped market sizes and barriers to serving the larger market. The lack of advertising sent a deceitful message.
Eastman Kodak Co.: Funtime Film
Amazing Business Data Maps. Copany distribution will be allocated in amounts that will maximize profitability and will be attractive to customers who are selective in where they buy film. Gold Plus advertisement will focus on the value of everyday quality film. The market analysix for lower quality film was not growing eastmn did not generate much cash. In the superpremium tier Fujicolor Reala was targeting advanced amateurs and professionals only while Kodak targeted a more broad segment with their competing Royal Gold line.
Its lack of educational advertising left customers in the dark, as far as the difference between products available. This, however, only speaks to part of its main problem. 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.