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¶ … marketing -- Test marketing is a way to take a specific group and test the viability of a product or service for that group. This may be done in many ways, through focus groups, home use, trials, short or long tests. There are numerous advantages and disadvantages to test markets. For our purposes, three disadvantages are:
Lack of broad enough test -- the product may be a prototype and not mature enough at the point of testing to give the company viable information. Or, the information gleaned may not be applicable after the test.
Group not indicative of users -- the demographics and/or psychographics of the test group are not really indicative of the prime potential user(s) of the actual product; or the audience may be inappropriate.
Risk vs. time -- test marketing may give the competition an edge, and...
Some examples are: 1) product complexity -- usually gadgets, for instance, universal remote controllers for entertainment centers (TV, cable, stereo, dvd, etc.) that must be programmed by the end user; 2) trialability -- it is far easier for certain low-price products such as food (cereal, candy bars, snacks, etc.) to be sampled and tried out before purchasing than major ticket items; 3) compatibility -- is the degree to which products are consistent with the area or culture; why would certain air conditioning products be popular in cold climates,…
Kodak and Fujifilm The history and core business of Kodak and Fujifilm Kodak and Fujifilm have been the most popular companies in the history of U.S. And world photography industry. Little is known about the history and the existing rivalry between the two companies over the years. Both companies have intriguing historical backgrounds; how they began and how they continue to grow and challenge one another in the industry. Fujifilm was set
It is common sense for a company to lower their costs when they are aware of the upcoming losses from the market. Unfortunately, Kodak was slow to realize that where Fujifilm adapted to it quite quickly, After many power changes, the eventual leader Shigetaka Komori put the company on the right path. The restructuring and the remodeling plan that he started, he basically went onto lay off people and cut down
Kodak's Digital Strategy It is very notable to mention how Kodak experienced a downfall with the emergence of digital imaging. Kodak's stock fell from about 80 USD to 3 USD within a period of less than ten years. The number of employees also declined. In 1988, the company employed about 140,000 employees but currently it has employees of not more than 20,000. This was as an unavoidable challenge and Kodak used
The company finds itself having to try to attract talented people, but without the cash or desirable location (sorry, Rochester) to attract the best talent. Further, there is perpetual uncertainty about the future of the company. Thus, reinventing itself as an innovator has proven to be a much greater challenge for Kodak than it has been for Fujifilm. Part of the problem was the conservative culture at Kodak, and
Kodak, long dominant in the photography business, has struggled with the transition to digital technology. Beginning in the 1980s, the company saw a number of strategic shifts. The company is now faced with four potential paths ahead, each one representing a different strategic view of the company and the industry. This paper will first present some historical context to Kodak's current situation, and then discuss the different strategic options in
" (Tully, 2004 p. 61) Though die hard print photography lovers, mostly professional photographers who do much of their own developing, may complain about the rapid advances of digital technology, as they are still set in the abilities of the print film technology to do things digital cannot yet the decision made in 2004 proved wise. There may be a time in the future when some of these changes can