Royal Gold will be targeted to a broader customer base. Sorry, but copying text is forbidden on this website. Click to learn more https: Making coupons available to customers helps Kodak keep their value. Had Kodak responded to this with more immediacy, its market share would not have dropped so significantly. Funtime was the only film in this brand tier to be offered only at off-peak film use times and only packaged in value packs. 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.
Gold Plus has already experienced its peak times of sales during the introduction and growth stages. 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. Most wholesalers would not necessarily be likely to commit to an exclusive partnership to one particular brand in this case, Kodak , simply because they limit their own product availability, and therefore cut into their own sales. Instead, we will drop prices once or twice a month over the course of a year. Making coupons available to customers helps Kodak keep their value.
Their competition capitalized on the market changes and private film companies began offering lower cost film of comparable quality.
Eastman Kodak: Funtime Film by Tí Con on Prezi
It seemed as if Kodak believed that people would not buy another film other than Kodak. Kodak can gain a larger market share by informing the customer what they are gaining from purchasing Kodak film before even entering the store. The case presents Kodak’s proposal to launch a new economy brand of film to combat these rivals.
Funtime Film case study. 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.
However, we cannot go about this by simply dropping the price of Gold Plus immediately.
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. Every marketing case study solution varies based on the details and data provided in the case.
Eastman Kodak Co.: Funtime Film Marketing Strategy Analysis & Solution
Educating consumers would likely only work best when paired with another alternative solution. Understanding the different needs and relative value of your offering by segment.
Shortly after the economy film market began to form, Consumer Reports released a quality test of the top 6 films in the market. Leave your email and we will send funtome an example after 24 hours By educating consumers, they. 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 eashman in order to satisfy the market.
Market potential analysis comprises evaluating the overall market size of the related product that the firm is planning to launch.
Fungime, seeing in recent years that Costco has become a very common place for consumers to have their rolls of film developed, and frequently sells film rolls in value packs, it seems to be a one-stop-shop for families who are constantly on-the-go.
Hi there, would you like to get such a paper? Alternative Solution 5 We believe that a combination of Alternative Solutions 2 and 3 would be an effective solution for Kodak. Kodak believed their dominance and fuhtime loyalty would continue to carry them as new competitors entered the market and as film prices were beginning to fall. This, in turn, means greater long-run returns for the firm. Graphically displaying value differences for deeper understanding and better internal communication.
[Marketing Strategy]Eastman Kodak Co.: Funtime Film Case Study Analysis & Solution
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. Pinpointing the idea that the average picture taker can take a picture like a professional, without being targeted to professionals.
The lack of advertising sent a deceitful message. Kodak did not take time to distinguish themselves from this new competition but simply relied on their trusted brand name they had built in the years prior. Dolan will comprise following sections — Eastman Kodak Co.: Coupons create brand recognition and make customers feel like they, personally, are receiving a great deal.
Gold Plus no longer has the power of clmpany the price due to the lack of market share and position in the product life cycle. With the correct promotional strategy, the education will be suited for the target market, resulting in a satisfied consumer. Gold Plus, Royal Gold, and Cokpany. If Kodak 6 Kodak were to partner successfully with retailers like this, the company would be able to gain further market share and sales, because people would increase their recognition of this particular brand, and could become the go-to brand for most.
Amazing Business Data Maps. We point out in great detail which segments will be most lucrative for the company to enter. Product differentiation is often based on building on a value niche that a firm believes koxak is very important to the customer.