Accessed February 23, There is not necessarily an inherent benefit for wholesalers with exclusivity. Because Kodak was only selling this product during the off seasons, Funtime could never become a cash cow. 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. 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. Other companies, such as Fuji and Polaroid, had dog products, and were fighting to become cash cow products.
They underestimated their competition and did not react soon enough. Kodak did not look far enough into the future of the market and were slow to react to competition which is why they failed to remain ahead of their competition and minimize any losses. Whenever you take a picture, Gold Plus is there for you, always dependable in any situation. Clearly, Kodak should have had a rapid response to this threat. Royal Gold will be targeted to a broader customer base. 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. Coupons create brand recognition and make customers feel like they, personally, are receiving a great deal. The biggest disadvantage in implementing this solution, however, would be in securing a mutually-beneficial partnership with a wholesale retailer.
Other companies, such as Fuji and Polaroid, had dog products, and were fighting to become cash cow products. Shortly after the economy film market began to form, Consumer Reports released a quality test of the top 6 films in the market. As Companh Gold is new to the market, more advertising must be focused to educate consumers about the product.
Kodak has many ways dastman differentiate themselves from all of these competitors. In the eyes of the consumers, offering a different product only at certain times of the year, with a lower price, brought down the value associated with Kodak film. The biggest disadvantage in implementing this solution, however, would be in securing a mutually-beneficial partnership with a wholesale retailer.
In order for a product to still succeed in the Kodak By partnering with Costco, for example, Kodak could become its exclusive film partner. The distribution will be allocated in amounts that will maximize profitability and will be attractive to customers who are selective in where they buy film.
Funtime became a question mark product, liquidating revenues made by the existing cash cows. Promotion will help Kodak educate, along with create brand recognition. Film, at this point, had not been sold in larger wholesale packs, and was being sold primarily in smaller groupings, at general retail facilities. Price While trying to implement an economy brand, Kodak failed when releasing Funtime film.
Case Discussion In Hematology -Case discussion in hematology. By educating consumers, they.
Eastman Kodak Company: Funtime Film by Ara Krikorian on Prezi
Therefore, we want to enter a more profitable market segment. Apart from selling within wholesale retail locations, another way to regain lost market share is to better educate consumers regarding camera film.
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.
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Due to negative market rumors, the company intended on creating another cash cow, as to maintain its market share.
To retain the market share fubtime already has, and since the Funtime product is already developed, though, Kodak should phase out its production. 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 flm picture.
Kodak should have quickly determined whether the Funtime Film Kodak 9 would develop into a cash cow or dog. Customers were becoming confused due to the similarity between these two names. It is in the privately owned shops that single rolls of film will be purchased more frequently.
Kodak Major Case Essay Example for Free – Sample words
As a result of consumers being uneducated in the film market, the general hesitation of purchasing film will easgman from being unaware of the benefits each film provides. Gold Plus no longer has the power of setting the price due to the lack of market share and position in the product life cycle. Accordingly, the star products Gold Plus and Royal Gold would be funded and, ultimately, further promoted. Funtime Film -Market evaluation:. This strategy does not solve their problem of competing with their competitors.
How about make it original? Eastman kodak company nyse: The market share for lower quality film was not growing and did not generate much cash. Sorry, solutoin copying text is forbidden on this website. Educating consumers, promoting benefits of Kodak and showing the attributes important in the Gold Plus as well as the Royal Gold film will lead consumers to the correct product.
Eastman Kodak Co.: Funtime Film
Eastman kodak company funtime film fred hwang egrmgmt marketing case study 1 september 8, overview possible solutions conclusion purchasing behavior customer breakdown gold plus. In asking the wrong questions, Kodak forged its own demise: In turn, customers will purchase Kodak film and avoid post-purchase dissonance. Pinpointing the idea that the average picture taker can take a picture like a professional, without being targeted to professionals. While solutio Funtime would have been a great solution given normal circumstances, developing a new lower quality product amidst negative market rumors was a risky solutoin.
This is partly because most consumers do not buy as much from the middle segment. Eastman kodak company, founded in by george eastman, was the prime manufacturer and distributor of easy-use cameras and films films being their main product of grandeur kodak stood out above all competitors by all means. This campaign, done through commercials, emphasizes the benefits of buying each Kodak product.