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ABOUT KODAK
Eastman Kodak Company-Established in 1888 by George Eastman.
Slogan : You press the button, we do the rest Provide a fully integrated photographic service supplying the camera and film through to processing and printing.
BUSINESS PRICIPLES
International Distribution
Extensive Advertising
Customer Focus
PRODUCT RANGE
Kodak offers a wide variety of products, spanning the entire motion picture value chain from image capture to post, on through distribution and archival applications.
Photo Printing Instant Cameras Digital Cameras Film Cameras Digital Picture Frames Image Sensors Motion Picture and TV production Document Imaging Consumer Inkjet Printers
BUSINESS PRESSURES
Lowering Costs:
Traditional films were costlier People could not see the picture until it was developed
BUSINESS PRESSURES
Strategies of Kodak
Vertical integration combined with continuous innovation and product development. Kodak introduced a new product development methodology called Manufacturing Assurance Process(MAP). Collaborate with experts like HP to enhance the competency. Digital strategy was to create greater coherence among Kodaks multiple digital projects. Previously they had diversification strategy but later they focused on Imaging business.
RESPONSE STRATEGIES.
Enter George M.C. Fisher. Eliminate Debt. Streamline Management. Increase Profitability. Reinvent Corporate Culture. Refocusing on Imaging. Digital Imaging Strategy.
$6
Million of debt was eliminated through sales of subsidiaries. The company was refocused on digital as the future of company. Expenses were slashed. Management was held accountable.
SWOT ANALYSIS
STRENGTH Good brand image Better retail network Proper quality maintenance Online photofinishing services OPPORTUNITY Increasing opportunity in European and UK market Advent of supermarkets own brand photo services THREAT Emergence of unfamiliar brands like Snapfish Decreasing use of home printers Camera phones Digital media WEAKNESS Late innovator Not keeping up with changing market trends Poor marketing strategy
The company failed to recognize the change in the environment and instead followed and sticked to a business model that was no longer valid for the postdigital age.
Fujis combination of cost leadership, high quality, and market aggressiveness forced Kodak to retaliate through price cuts and bigger advertising budgets It has also been hit by a failure to develop new models fast enough and has tended to focus on the ultracompetitive entry-level market