1879: George Eastman invented the dry plate process
1935: Introduced color film
1970: Major Sales growth for Kodak
1980: Fuji emerges as a competitor
January 2005: Kodak EasyShare was launched (world first Wi-Fi consumer digital camera capable of sending pictures by email)
December 2010: Kodak was removed from S&P 500 index
January 19, 2012: Filed for Chapter 11 Bankruptcy Protection Why it failed?!? Failed to recognize the potential of digital camera- developed in 1975 by its own engineer
Avoided developing new products- stuck to tried and tested formula of selling films
Failed to connect with the consumers
Ignored the new technology and tried to prolong the life of existing technology- film
Revenue and share prices In the fourth quarter of 2009, Kodak posted $137 million loss.
Kodaks total liabilities equalled $7.3 million compared with its total assets of $4.6 million.
Between 2009 and 2011, Kodak revenues declined from $7.6 to $6.0 million.
In 2010, Kodak only held 7 percent of the digital market and ranked seventh behind Sony, Canon, and Nikon. Kodaks share price has declined ever since digital cameras became mainstream Slogan You press the button, we do the rest Kodak Moment, Capturing photos that are as precious as your moments Rebranding Kodak Competitions Social Media Mobile App KODAK MOMENTS Kodak Moments Billboards:
Competition: people will share their Kodak moment a part of their Customer Relationship Management strategy- engaging customers special moments to be captured and shared almost effortlessly BILLBOARDS: at tourist spots and market areas Showing Kodaks contribution and future plans Peoples Kodak Moments Updating their Website and connecting with other social networking sites for people to browse through pictures uploaded by others under the name Kodak Moments which will have Kodak as the watermark, discussion forums in which people will describe their moments etc. shared on various social networking sites Mobile App: develop mobile application for various operating systems (windows, Ios, android, etc) people can participate by sharing photos taken directly from their mobile camera, tablet or any other gadget. Not a heritage brand only!! Virtual and physical imaging and photography museum in which their work towards the evolution of cameras will be displayed along with their upcoming work Along with projecting itself as a modern brand, Kodak can flaunt its over 100 years old history by establishing a museum. Also the museum will display its upcoming projects to create interest among customers
Museum The way ahead in technology New products and Innovation: Low price leader
Easy to use and easily available
Youth/ fun-loving and social brand
Enter into new market: Along with normal digital cameras Kodak have to enter in market of closed circuit and mobile camera market. As nowadays, more and more people are shifting towards mobile phone cameras due to change in technology and image clarity.