Founded by George Eastman and Henry A Strong the company was a dominant leader in 20th century in terms of photographic film. The Kodak company based in Rochester, New York is presently involved in Print systems, enterprise inkjet system, micro 3D printing, packaging and software solution. This helps the company be more efficient in terms of selling thoroughly by reaching the customer on the product and services instead of wasting money on consumers that will never buy their product. The Marketing Mix section covers 4Ps and 7Ps of more than 800 brands in 2 categories. Consumers can be grouped and served in various ways based on geographic, demographic, psychographic, and behavioral factors. “Step 1: Market segmentation – divide the market into relatively homogeneous segments of customers; each of these groups, to be fully satisfied, needs its own marketing mix or product. • Demographic segmentation includes basing the subgroups in reference to age, family size, gender, life cycle, education, nationality, religion, and income. Eastman Kodak announced the creation of a new and simpler business structure designed to increase productivity, reduce cost and accelerate its transformation into a digital company that delivers sustainable profitability and creates value for its stakeholders. Retrieved from Flexcel is the product utilised for flexography printing. Kodak Marketing Strategy comprises of not only its Marketing Mix, but also segmentation, targeting, positoning, competition and analysis like SWOT. Kodak Market Segmentation. For instance, suppose you introduce a new kind of granola bar. In Market Segmentation and Targeting, H.H. One of the major strategy implemented in terms of pricing has been razor and blade for its printers wherein the prices of the printer has been higher but the ink for the cartridge has been lower. Similarly, a new brand of cookie could be positioned using health, diet, or good taste.

Change ), You are commenting using your Google account. market Highly fragmented value chain Ripe for technology substitution Kodak well positioned to lead digitization and drive integration Attractive business case, but need to accelerate to scale Best segment-optimized digital solutions in the industry #1 market share worldwide in digital prepress Game-changing technology upsides (2011). Problem Analysis Kodak offered three product lines to target various market segments as a part of their Funtime strategy to regain market share. • Behavioral variables include; occasions, loyalty, attitude, and user rate. “This new structure simplifies the organization, focuses it more precisely on our consumer and commercial customers, and puts the right people in place to capitalize fully on the tremendous technological capabilities of Kodak. Eastman Kodak announced the creation of a new and simpler business structure designed to increase productivity, reduce cost and accelerate its transformation into a digital company that delivers sustainable profitability and creates value for its stakeholders.Under the new structure, Kodak has reduced its number of segments from three to two: Both report into a newly created Chief Operating Office led by Philip Faraci, who will continue to serve as Kodak’s president and chief operating officer, and by Laura Quatela, who was recently named, alongside Faraci, as president and chief operating officer. Representing market segments throughout the industry, the Digital Experience will offer over 100 world-class educational sessions and more than 40 product launches for everyone across all job functions to access, at no cost.

Friedman defines market segmentation and targeting as being part of a 3-step process. (Market segmentation is dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs.

( Log Out /  Let us start the Kodak Marketing Mix & Strategy: The product strategy and mix in Kodak marketing strategy can be explained as follows: Kodak is a leading brand which focuses on digital cameras, printer, imaging deivces etc. The traditional definition of market segmentation is the breaking up a market into smaller markets, subgroups, in order to understand who your target is. The organization has used all forms of media foe effectively communicating its promotional advertisement.

The promotional and advertising strategy in the Kodak marketing strategy is as follows: Kodak brand has huge popularity for its photography related products and has used this effectively in various campaigns, promotion and advertisement. Trends and Services in the In-plant Industry (2020), Innovative Wide-Format Printing Applications at In-plants, In-plant Forum Opening Keynote Focuses on Thriving After COVID-19, PRINTING United Digital Experience Enters Second Week with Special In-plant Forum Day, Today is In-plant Day at the PRINTING United Digital Experience, Canon Delivers 1,300 Printers to NYC Hospitals, Cal Poly Student In-plant Prints COVID Signage, From the Editor: Back to School, With a Twist, The Economics of Investing in an Inkjet Press, New Opportunities in Short-Run Digital Packaging. Segmentation and Targeting is just the beginning of the marketing perspective. The example I have come up with is Kodak. “As we complete Kodak’s transformation to a digital company, our future markets will be very different from our past, and we need to organize ourselves in keeping with that evolution,” Perez said. • Psychographic variables include social class, lifestyle, and personality. You can position it as a good-tasting candy bar, a relatively healthy bar or, possibly, a low-fat (“lite”) bar. The major product share of Kodak once included the photographic films which currently has very lower demand due to rising prominence of digital photography technology. They needed to segment the market and really learn to understand who their target was and what their needs were. They didn’t understand who their consumer was and what market they were in. Change ), Marketing Role in the Company’s Strategic Planning, http://academic.brooklyn.cuny.edu/economic/friedman/mmmarketsegmentation.htm, Marketing role in the company’s strategic planning, Marketing Role in the Company’s Strategic Planning. (H.H. These steps include: The target market is a subgroup of customers, which the company chooses and develops specific offerings for. )” (Kotler, 2012. p.g.51), As defined in Principles of Marketing (2012) by Kotler and Armstrong, “Market targeting is the process of evaluating each market segment’s attractiveness and selecting one or more segments to enter.Market targeting involves evaluating each market segment’s attractiveness and selecting one or more segments to enter. This article elaborates the product, pricing, advertising & distribution strategies used by Kodak.

We are confident that these changes will support our efforts to make the most of our opportunities.”. The names and other brand information used in the Marketing Mix section are properties of their respective companies. This revealing webinar lays out the power of direct mail when printed on a continuous web inkjet press. The company had a turnover strategy in which they have started focusing in developing competence in terms of digital technology.

Figure 3 Flow chart: Marketing segmentation and targeting. 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 target market should include only those segments of a market that are both profitable to serve and likely to be receptive to the products a company provides.

It has greater external visibility by associating with various film festivals and award functions thereby enabling the brand to leverage its position with greater awareness among the customers.

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