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Kodak The Rebirth Of An Iconic Brand Case Solution
Macro-segmentation refers to the classification of a market using broad variables. It helps in getting to know about the overall market scenario that can be used by the company to target its desired audience. In the case of Kodak, reference markets can be understood by segmenting the market in terms of its main end-users. Reference markets can be businesses using material science and image sensing services. Moreover, in the case of film product, it can be young and creative film makers.
Following questions are answered in this case study solution
Macro-segmentation: Draw the reference market(s) for KODAK
What are the segmentation criteria applied by the brand after its re-launch? What is the target? What is the targeting strategy?
Make a SWOT analysis for KODAK in 2014.
What type of Porter’s generic strategy is used by KODAK? Justify.
Positioning: What is the positioning of the brand?
Make the identity prism for KODAK after 2014.
What is the brand image before its re-launch? And after the relaunch?
Evaluate the brand element choice criteria of KODAK
How does KODAK differentiates its products from the competition?
What is the pricing objective of KODAK when it re-launched?
Do you think KODAK made a right choice in pricing? Explain with the help of the three major considerations that need to be taken into account in pricing?
What are the media channels used by KODAK? Classify them following the POEM model
Where can the Kodak brand go next? How can it go beyond film? How can the “cool” cache the brand has developed be translated into sustainable brand value? What products should Kodak introduce or re-introduce? Should they move into digital platforms such as Instagram – if so, how?
Case Analysis for Kodak The Rebirth Of An Iconic Brand
2. What are the segmentation criteria applied by the brand after its re-launch? What is the target? What is the targeting strategy?
Post-2014, Kodak decided to rediscover its brand and focused a great deal on its film heritage. For this purpose, it reached out to the creative people who are more interested in authenticity rather than fast based modern media. The target base was creative youngsters (in search of class and exclusivity), and the best targeting strategy in this regard was to leverage the power of social media and to develop a brand relationship with groups or individuals who can influence their behaviours.
3. Make a SWOT analysis for KODAK in 2014.
Strength: Kodak has the service of well-experienced executives to implement strategic initiatives. It also has an old and strong brand name associated with the film industry.
Weakness: Kodak has a limited market budget to implement such initiatives. Apart from this, due to a major decline in business over the years, morale is also down.
Opportunity: A vast set of opportunities is available in terms of the evolving socio-cultural dynamics, as a young and sophisticated lot of people are more interested in creative works, made possible by film rather than digital.
Threat: Rapid technological developments in digital media is a threat to look for.
4. What type of Porter’s generic strategy is used by KODAK? Justify.
Four porter generic strategies are cost leadership, cost focus, differentiation leadership, and differentiation focus. In this case, Kodak can choose differentiation focus, as it is capitalizing on a particular nice market, young creative lot, by its unique product offering.
5. Positioning: What is the positioning of the brand?
Brand positioning is the process of creating an association of a brand in the mind of the customer that helps him in differentiating that brand with others. In this case, respect for the authentic and creative product is the main positioning that Kodak is trying to make in the mind of its customers.
6. Make the identity prism for KODAK after 2014.
Following are components of an identity prism for Kodak:
Physique: Quality-oriented, Variety of different camera models, and Licensed products
Relationship: Personalization and exclusive
Reflection: A product that can help let creative juices flow.
Personality: Exclusive, creative, and authentic
Culture: Commitment and Class-Oriented.
Self-Image: Classy, and apart from the masses.
7. What is the brand image before its re-launch? And after the relaunch?
The brand image of Kodak before the launch was that of a product that was more suited to a mass audience. Kodak failed to compete effectively in the market for digital cameras due to its inability to come up with innovative features. However, after the launch, the price of the camera rose a lot high, signifying that it is targeting a particular kind of audience rather than the mass market.
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