Sending coupons to customers is another way to help Kodak gain back market share in the decreasing market. This is partly because most consumers do not buy as much from the middle segment. A commercial representing Royal Gold as well as Gold Plus is necessary to show the perk of each product. Hi there, would you like to get such a paper? This, however, only speaks to part of its main problem. Developing a positioning and launching strategy.
Click to learn more https: Instead of only focusing on repositioning their film, they should have also tried to advance the technology of their cameras. How to cite this page Choose cite format: The market share for lower quality film was not growing and did not generate much cash. How about receiving a customized one?
Gold Plus has already experienced its peak times of sales during the introduction and growth stages.
Educating consumers, promoting benefits of Kodak and showing the attributes important in the Gold Plus as eastmqn as the Royal Gold film will lead consumers to the correct product. A commercial representing Royal Gold as well as Gold Plus is necessary to show the perk of each product.
Kodak Major Case Essay Example for Free – Sample words
Your Answer is very helpful for Us Thank you a lot! Royal Gold will be available for purchase in a variety of forms. Product differentiation is often based on building on a analsyis niche that a firm believes that is very important to the customer. Let aside, this would not address the problem of having been unadaptive, at its core. 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.
Eastman Kodak Co.: Funtime Film
They are just awesome. Now that Gold Plus has been on the market for a while, it is now in the maturity stage of its life cycle, as sales have begun to stabilize. As a result of consumers being uneducated in the film market, the general hesitation of purchasing film will come from being unaware of the benefits each film easman. It will require not only distribution channel analysis but also promotion mix for the product. Other companies, such as Fuji and Polaroid, had dog products, and were funntime to become cash cow products.
Developing segment priorities and positioning the product based on the product need fit developed by the firm. Funtime Film products various on factors such as —. 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.
This strategy does not solve their problem of competing with their competitors.
filj Sorry, but copying text is not allowed on this site. To the average consumer, Gold Plus and Royal Gold are far too similar in name, and give off the impression that they are of the same quality. They should have immediately started discussion strategies on repositioning themselves to avoid the competition absorbing their market.
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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.
Kodak had dominated the photo film market for most of the s until competitors like Fuji began taking market share from Kodak in Kodak should have quickly determined whether the Funtime Film Kodak 9 would develop into a cash cow or dog. Funtime became a question mark product, liquidating revenues made by the existing cash cows. 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.
Promotion In order to regain market share, it is important for Kodak to advertise the benefits of Royal Gold and Gold Plus film.
By educating customers, Kodak is able to both lock-in the loyalty of current customers, sustain its competitive advantage, and find additional ways eaastman attract more new customers. We’ll occasionally send you account related and promo emails. 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.
Kodak confused its customers in regards to the value of its product.