Eastman Kodak Company is known as Kodak. It is an
American technology company focused
on imaging solutions and services for businesses. Eastman’s first camera,
the Detective, was created in 1886. Soon after in 1888, Eastman created a
superior model, the Eastman Kodak camera to replace his poorly selling
Detective.
Kodak was once a leader and legendary brand in the
photographic film industry. It used the catchy slogan “You press the button, we
do the rest” to successfully market its digital camera products.
Kodak began to struggle financially in
the late 1990s as a result of the decline in sales of photographic film and its
slowness in transforming to digital
photography. Kodak was under intense pressure to survive in the digital imaging
business. Kodak lost 90 percent of it’s market value and is facing the threat
of extinction.
Kodak has tried to transform itself from an aged old film
technology business into a fast and digital cultured business but has failed as
a result of decline in sales in the United States. It is still trying to play
catch-up with rivals such as Canon, Sony and HP. Its current products and
services span across digital cameras, inkjet printers, sensors, retail kiosks,
workflow and business process services and software through to consumer,
professional photographic film, paper processing chemicals and industrial
materials such as films for printed circuit boards. Its main business segments are Digital Printing &
Enterprise and Graphics, Entertainment & Commercial Films. Kodak is best
known for photographic film products. During most of the 20th
century Kodak held a dominant position in photographic film.
Kodak has superior brand recognition as compared to rival
brands. Its brand was supported by its massive worldwide distribution presence
through retail photography stores, film processors and professional
photographers which provided Kodak with the competitive advantage. Kodak leads
in the higher-end photo quality camera segment where it launched its major
innovations in imaging. Traditionally, Kodak has strengths in photofinishing
services and consumables such as paper, ink and chemical technology. This is
derived from a rich portfolio of 11,000 patents derived from a strong R&D
investment.
CHANGES
OF LOGO
In order for Kodak to sustain a competitive advantage, it
needs to strategically transform its entire business model around to capture
new and unique growth opportunities. There are several options which Kodak can
explore to achieve this strategy. Kodak needs to strategically transform its
entire business model around to capture new and unique growth opportunities. It
is recommended to improve efficiency and simplify the organization. Kodak
should have leadership to communicate and influence vision and change to
capture new business models and better match user needs and economic value.
References
http://articles.businessinsider.com/2011-10-05/strategy/30246134_1_eastman-kodak-photography-icon-john-larish
http://www.nytimes.com/2004/04/19/business/technology-advice-to-help-kodak-compete-in-the-new-world-of-digital-photography.html?pagewanted=print&src=pm
http://www.kodak.com/US/plugins/acrobat/en/corp/HSE/issuesandchallenges.pdf
http://www.guardian.co.uk/business/2012/jan/19/kodak-bankruptcy-protection
http://www.kodak.com/US/en/corp/researchDevelopment/whatWeDo/development/designUsability/history.shtml
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