For example Kiosks that could print image directly from mobile phone.• In case of expanding service/online service Kodak acquiring companies like Ofodo to boost Kodak Easy Share Gallery. Shaw, E. H. (2012). importance to personalised services and prefer shopping from traditional stores rather than online channels and firm Post author By Joseph; Post date November 29, 2019; Q1. going to trade shows, browsing public documents, asking customers, playing secret shopper technique and tapping the There are wide number of top retailers and distributors for Kodak products which also includes the niche market of typical printers and films. on multifaceted factors- like: By using the segmentation technique, Eastman Kodak Company can narrow down the large, diversified target audience into specific The company had a turnover strategy in which they have started focusing in developing competence in terms of digital technology. The customers' experiences and perceptions determine the brand Dibb, S. (2010). The company can use one or more of these segmentation strategies to choose the right market segments and develop an Kodak after venturing into digital photography segment have always been market follower due to increased competition by established players in the same sector. strength of the brand that reflects the brand equity. Amount of extra sales volume generated compared to other branded and non-branded competitors. interaction with Eastman Kodak Company’s employees, price points, advertisements, WOM, celebrity associations and publicity in Marketing Mix of Kodak analyses the brand/company which covers 4Ps (Product, Price, Place, Promotion) and explains the Kodak marketing strategy. Lastly, consider the budget constraints and allocate budget to chosen promotional strategies according to their investment after identifying the stars in its product lines. Eastman Kodak Company should continuously evaluate its brand equity to ensure the It has lost major market share since digital adoption. Routledge. 63-82). The cost leadership strategy will suit if Eastman Kodak Company has developed... 5.2 Differentiation based competitive advantage. Common buying criteria are- prestige, convenience, quality and price. High entry barriers show that there will be lesser new entrants in the market. Lastly, Eastman Kodak Company should analyse how it’s offered product/service serves the needs of different groups and which channel and comparison with own resources and capabilities will help Eastman Kodak Company develop an effective distribution Marketing strategy forms an integral part of the marketing planning. Firstly, clearly define the target market. Kodak's ink strategy rejected the razor and blades business model used by dominant market leader Hewlett-Packard in that Kodak's printers were expensive but the ink was cheaper. company in determining the current lifecycle stage of the industry. could be addressed with targeted positioning message. Answers to these questions will yield enough information to develop a positioning statement. needs a distribution partner to serve the customers' needs. After dividing the large diversified customer market into smaller groups with homogeneous characteristics, Eastman Kodak Company This information will reveal the Summarize the market characteristics and trends. status), what is price sensitivity level? like usage frequency, benefits sought, usage occasions and brand loyalty. High substitute product strengths and weaknesses of their products with their product offerings. (2017). Springer, Cham. investing in R&D for long-term growth. High brand awareness shows that the The marketing-mix model is applied to discuss the Marketing Strategy of Eastman Kodak Company. with customers, develop a personalised relationship and manage e-WOM to get better results. Journal of Business Research, 65(11), Use the above information to analyse competitors’ strengths, weaknesses and core capabilities. However, management should be distribution channels will require Eastman Kodak Company to: This is one of the most important elements of Eastman Kodak Company Marketing Strategy. following brand equity components: Brand awareness provides the basis for brand equity development process. Kodak has developed a planned strategy known as the content strategy that is used in its overall marketing strategy. competitive analysis is done to understand the relative positioning and market share of the company's direct and long-term survival in an increasingly complex and competitive customer market. plan. The products can be classified into the following categories: The high number of stars and cash cows will indicate good performance, whereas, a high number of question marks and Eastman Kodak Company can choose one or more segments depending on the segments’ characteristics and the company's resources, The strategy will help Kodak to minimize the power of the suppliers and buyers by having the control of the entire supply chain. personas are: Demographic information (e.g. After understanding the unique buying behaviour of customers and getting the required information through surveys, it is different from available alternatives. Involving various middlemen to distribute perishable products will The pricing The market potential includes Develop the brand identity by building brand salience/awareness. Eastman Kodak Company can take information from different sources to accurately determine the market For example, the selection of TV advertising as a promotional strategy will allow the company to target the Eastman Kodak Company can follow three steps to conduct customer analysis: Eastman Kodak Company can consider following factors when developing the customer profiles: The customer analysis and development of segmentation strategies run in parallel. releases, promotional campaigns, hiring practices, acquisitions and mergers. like- gender, age, income and ethnicity. A detailed competitor analysis can be categorised into the following parts: Eastman Kodak Company Marketing Strategy development requires a comprehensive market analysis. With a new management philosophy and marketing strategy, Kodak realized the need to adjust its consumables. This strategy continued even though, in 1986, Kodak’s research labs developed the first mega-pixel camera, one of the milestones that Barabba’s study had … Khan, M. T. (2014). to develop brand resonance that sits on pyramid top. Difference between the price charged by Eastman Kodak Company due to its brand name and price charged by similar unbranded Wensley, R. (2016). The customer analysis must identify the total market size including current and potential customers that could be Kodak's Resource and Capabilities For Kodak, identifying its resources and capabilities is critical to redefine its sustainable competitive advantages in this technologically fast-moving field. Jaworski, B. J. Eastman Kodak Company can use the information Our experts specialize in dissertation editing, so let us finalize your paper or have us write it for you. can measure brand awareness by conducting brand recall surveys. (performance) and emotional/psychological needs (imagery). Marketing Management, 34(1-2), 63-70. From skate to streetwear: Kodak plans to bring back its consumer brand in a ‘big way’ 130 years since it was established, camera giant Kodak has a new strategy for success focused on entrepreneurial marketing, cool collaborations and leveraging the brand’s vintage assets to tap into the ‘new nostalgia’. 1612-1617. It can be done by quantitatively the offered product. Eastman Kodak Company should increase the Kodak is currently having a stiff competition in all the product segments and needs to innovate for differentiation to move ahead in market share. The promotional strategies like direct selling or high profile advertising will suit if the company wants to push The Kodak company based in Rochester, New York is presently involved in Print systems, enterprise inkjet system, micro 3D printing, packaging and software solution. 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