Revitalizing and Sustaining the Comeback of Kodak: A Comprehensive Brand Analysis
You are an intern at the firm that has your selected comeback brand. The company learned its lesson. It must continually analyze the current situation of the brand and determine if adjustments need to be made. You have been asked to provide the senior leadership of the company with an analysis of the brand’s current situation that includes a situation analysis (5’C’s), marketing strategies (STP), tactical plan (4P’s), and significant trends.
Use the brand that you selected and researched for the three case studies and the week 4 discussion post. You will use the information from the sources you researched during the term as a foundation.
Submit a title page with the name of the company, your name, and the title of this course. (APA format)
The paper will have five parts and they will be Level one headings that are centered and boldfaced. The paper should be double spaced, 12 point Times New Roman font. Please upload your paper as a Word Document.
Executive Summary
Situation Analysis (5C’s)
Market Analysis and Strategies (STP)
Tactical Plan (4P’s)
Significant Trends and Future Recommendations
Provide a separate reference page with at least 7 references. References are double spaced in alphabetical order and APA format. The first line of a reference is aligned left and subsequent lines are indented five spaces. All references must be cited within the paper in order to count as a reference.
Address the following in your analysis.
Provide the company’s mission statement and a short introduction to the company. Please include the comeback story of the brand.
Identify the internal strengths and weaknesses of the company you chose. This is the internal part of a SWOT analysis.
Assess the opportunities and threats (legal, technological, social, and economic) facing the company. Does the company cope with these issues well? (This is the external part of a SWOT analysis and the context that the brand lives in, the state of their relationship with collaborators, any threats from competitors).
Discuss the company’s competitors and their strengths and weaknesses.
Determine your company’s marketing strategy and how it compares to the closest competitor. This includes segmentation, target marketing, and positioning of the brand and its closest competitor, as well as a discussion of the brand’s customers and the brand’s customers)
Explain whether the company’s intention is to be a leader or follower within the industry.
Identify the most significant trend you think will impact the business in the future and discuss how the company intends to minimize or capitalize on this trend.
Support your marketing plan with a minimum of 7 references that are cited in your analysis and sourced from either the text or outside sources.
This paper is to be submitted as a Word document in Week 4. The suggested length is a minimum of 8 pages not including the title and reference pages. There is no maximum.
Title: Revitalizing and Sustaining the Comeback of Kodak: A Comprehensive Brand Analysis
Executive Summary
Kodak, a renowned American imaging technology company, has a rich history of innovation and market leadership. However, the company faced significant challenges in adapting to the digital revolution, leading to bankruptcy in 2012. In recent years, Kodak has repositioned itself as a key player in digital imaging and printing solutions, aiming to revitalize its brand and recapture market share. This analysis provides an in-depth assessment of Kodak's current situation, including a 5C's analysis, STP strategies, 4P's tactical plan, and significant trends shaping the industry. The analysis also delves into Kodak's internal strengths and weaknesses, opportunities and threats in the external environment, competitive landscape, marketing strategy, and future recommendations.
Situation Analysis (5C’s)
Company: Eastman Kodak Company
Mission Statement: "Kodak is committed to providing innovative and sustainable imaging solutions that meet the evolving needs of businesses and consumers globally."
Introduction: Founded in 1888, Kodak revolutionized the photography industry with its film-based cameras and products. However, the company struggled to adapt to the digital era and faced bankruptcy in 2012. In recent years, Kodak has refocused its efforts on digital imaging, printing, and advanced materials, striving to regain its position as an industry innovator.
Internal Analysis (SWOT):
Strengths:
Strong brand legacy and global recognition
Technological expertise in imaging and printing solutions
Diversified product portfolio
Weaknesses:
Legacy cost structure and debt burden
Limited market presence in emerging economies
Previous brand image challenges
External Analysis (SWOT):
Opportunities:
Growing demand for digital printing solutions
Advancements in digital imaging technologies
Threats:
Intense competition from established players and new entrants
Rapid technological obsolescence
Market Analysis and Strategies (STP)
Market Segmentation:
Kodak segments its market based on customer needs, focusing on professional printing solutions, digital imaging for businesses, and consumer photography products.
Target Marketing:
The company targets businesses and consumers seeking high-quality imaging and printing solutions, emphasizing reliability, innovation, and environmental sustainability.
Positioning:
Kodak positions itself as a trusted provider of advanced imaging technologies that combine quality, efficiency, and environmental responsibility.
Competitor Comparison:
Kodak's closest competitor, Fujifilm, shares a similar focus on imaging and printing solutions. However, Kodak differentiates itself through a stronger emphasis on digital innovation and sustainability.
Tactical Plan (4P’s)
Product:
Continued development of advanced digital printing technologies and solutions
Expansion of consumer-friendly digital imaging products
Partnerships with industry leaders to enhance product offerings
Price:
Competitive pricing strategies to capture market share
Value-added pricing for premium products and services
Promotion:
Integrated marketing campaigns highlighting Kodak's digital innovation and environmental stewardship
Partnerships with key influencers and organizations to enhance brand visibility
Place:
Expansion of distribution channels to reach new markets and demographics
Investment in online sales platforms to cater to evolving consumer preferences
Significant Trends and Future Recommendations
Trend Impact:
The rise of 3D printing technology presents both opportunities and threats for Kodak. While it opens new avenues for innovation, it also intensifies competition in the printing industry.
Mitigation Strategy:
Kodak aims to capitalize on the 3D printing trend by leveraging its expertise in materials science and additive manufacturing. The company plans to collaborate with industry leaders to develop cutting-edge 3D printing solutions while continuously innovating its existing product lines.
Conclusion
In conclusion, Kodak has made significant strides in revitalizing its brand and reestablishing its position as an industry leader in digital imaging and printing solutions. By leveraging its strengths, addressing weaknesses, capitalizing on market opportunities, and mitigating threats, Kodak is poised for sustained growth and innovation. The company's strategic focus on customer-centric solutions, digital innovation, and environmental sustainability will continue to drive its success in a rapidly evolving industry.