Marketing Strategy Plan Firm Chosen  Term Paper

  • Length: 7 pages
  • Subject: Business
  • Type: Term Paper
  • Paper: #72002294

Excerpt from Term Paper :

Those proposals included broadening its vital presence, and strong growth, in commercial markets and health imaging, refocusing research and development dollars; speeding investments in commercial markets; and taking over other companies and technologies to enlarge Kodak's portfolio of digital products and services.

On the force of its taking over Kodak Versamark and NexPress, Kodak's Graphic Communication Group is piling a portfolio of major variable-date printing equipment providers. Kodak's Digital and Film Imaging Systems business persists to prove its success in digital markets. In 2003, Kodak's share of the consumer digital camera market went up to No. 4 across the world, making the strong acceptance of the Kodak Easyshare range of cameras. Kodak the sole company coming in the Top 5 also ranks No. 2 in digital camera sales in America. Following just 8 months after entering the snapshot printer market in April 2003, Kodak claimed the top slot and persists to extend its march, driven by the popularity of the Kodak Easyshare range of printer docks. Kodak even occupies the apex position for photo kiosk, which allows consumers to print pictures at retail level, as also being the top ranking company in the market for online photo services. (Kodak Reports Significant Progress in Digital Growth Strategies)

Environmental Analysis:

The vision at Kodak is to undertake quantifiable enhancements in the health, safety, and environmental aspects of the products, services and operations and to perform it in a continuous manner. In order to realize this vision, every Kodak operations and employees across the world collaborate to safeguard the quality of the environment and the health and safety of the employees, customers and neighbors. As a strategic framework to maintain the company on the path of the goals, it has established a company Health Safety and Environmental Policy and Guiding Principles founded on a series of Corporate Social Responsibility. The policy of the company is to perform its business activities in a way in keeping with the proper health, security, and environmental management practices and to abide by the applicable health, safety and environmental laws and regulations. Proper stewardship of health safety and environment is central to Kodak's core values, and the policies, organization, and management systems are entrenched within them. (Vision and Strategy)

Opportunities:

The dynamic external environment gives Kodak Company a lot of appealing opportunities. Even though in a mature state, Kodak has the ability to capitalize on the goodwill of the brand to enter into untapped overseas market. The setting up a division in China implicitly reveals Kodak's initial step to tap on new markets. Kodak is also presented with underdeveloped market segments which gives opportunities for growth and success. These segments constitute in health imaging and infoimaging. The comparatively nascent and underdeveloped market for single use cameras or SUCs is one more sphere which Kodak can focus on. This is obviously evidenced by the reality that sales on these products have shown a rising trend since 1989. The finding of the digital technology also gives the company an inroad to expand into product lines through initiatives in scanners, cameras without films and similarly those products. In the advancement of computer technology, opportunities on including imaging facilities like software, scanners and printers in computer system are witnessed. With this, the availability of the strategic alliance and JVs is increasing. This might be above all evidenced with the present inclusion of Kodak's color management standards in Microsoft Windows. Of course the inflow of technology gives endless scope in store for Kodak. (Eastman Kodak)

Threats:-

The coming into being of the latest technology in the imaging business is witnessed as a threat to Kodak's use of silver halide. Across the industry it is stated that scope for growth in the silver halide industry has reached a dead end. This informs us that the company is capable to perform as much in tapping the silver halide in the maturity stage. As a result, the competition within the industry is coming to be stiffer as at the time of maturity stage, rival companies are taking recourse to strategies which are targeted at roping in customers of their competitors. For instance, Japan-based Fuji, the archrival of Kodak, is trying to corner more market share in the U.S. The market share of Kodak in the U.S. has seen a slide in the recent years due to the presence of Fuji. The advancement and development of other technologies like digital cameras has appealed big as well as small companies to enter the industry. As the digital camera industry is in its nascent phase, Kodak is expected to experience increasing competition in the forthcoming future.

Apart from this, increasingly, substitute products are arriving in the market, which in the long-term might make a transition from films to memory cards as the medium for taking pictures which is used in digital cameras. In the event of this happening, the core business of the company has to be reinvented from scratch. The threat posed by the substitute products, Kodak's industry is at present faced with increasingly higher levels of competition which specialize in specific segments. Thus the market even for new products became saturated in a short lag of time. Strategic Alternatives:- in spite if the immense market coverage that includes the U.S. And majority of Europe, capacity expansion is still possible to cater untapped overseas markets in majority of the Asian nations like China, Taiwan, and Hong Kong, that have the capability to be key photographic markets. This particularly holds good for China which constitutes a fifth of the world's total population. (Eastman Kodak)

References

Eastman Kodak. http://www.coursework.info/i/51664.html. Retrieved from Accessed on 4 June, 2005

Health, Safety, and Environment 2004 Annual Report: Employee Training an Important Practice at Kodak. Eastman Kodak Company. Retrieved at http://wwwcaen.kodak.com/U.S./plugins/acrobat/en/corp/environment/04CorpEnviroRpt/HSE2004AnnualReport.pdf. Accessed on 4 June, 2005

Introduction. Retrieved at http://www.kodak.com/U.S./en/corp/kodakHistory/index.shtml. Accessed on 4 June, 2005

Kodak Reports Significant Progress in Digital Growth Strategies. 22 September, 2004. Retrieved at http://www.cdrinfo.com/Sections/News/Details.aspx?NewsId=10658Accessed on 4 June, 2005

Kodak's strategy for the pro-imaging market. Retrieved at http://www.peimag.com/pdf/pei02/pei0708_02/bitstreampei0708_02.pdf. Accessed on 4 June, 2005

Peters, Mark. Kodak Shipped the Most digital cameras in the U.S.A. 18 May, 2005. Retrieved at http://www.letsgodigital.org/en/news/articles/story_3259.html. Accessed on 4 June, 2005

Peters, Mark. Sandra Morris Vice President Kodak Imaging Service. 25 May, 2005. Retrieved at http://www.letsgodigital.org/en/news/articles/story_3333.html. Accessed on 4 June, 2005

Vision and Strategy. Retrieved at http://wwwcaen.kodak.com/U.S./en/corp/HSE/VisionStrategy.jhtml-pq-path=2879/7196/7285Accessed on 4 June, 2005

Cite This Term Paper:

"Marketing Strategy Plan Firm Chosen " (2005, June 05) Retrieved January 18, 2017, from
http://www.paperdue.com/essay/marketing-strategy-plan-firm-chosen-65107

"Marketing Strategy Plan Firm Chosen " 05 June 2005. Web.18 January. 2017. <
http://www.paperdue.com/essay/marketing-strategy-plan-firm-chosen-65107>

"Marketing Strategy Plan Firm Chosen ", 05 June 2005, Accessed.18 January. 2017,
http://www.paperdue.com/essay/marketing-strategy-plan-firm-chosen-65107