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Strategic Brand Management

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The paper discusses the strategic brand management of Eastman Kodak, tracing its evolution from the invention of flexible roll film to its significant market presence by the late 20th century. It highlights key innovations, the impact of consumer behavior on brand loyalty, and the challenges faced by Kodak in adapting to digital technology, ultimately leading to a decline in traditional product demand. Recommendations for strengthening brand equity in the face of competition and technological changes are also presented.

Table of Contents Introduction 1 History of Photography 1 Eastman Kodak Company 2 Downturn of Eastman Kodak Company 3 Kodak Brand Awareness 5 Brand loyalty 6 Brand Association 7 Perceived Quality 8 Proprietary Brand Assets 9 Conclusion 10 Recommendations 10 Appendices 11 Appendix A 11 Works Cited 13 Introduction Industrial Overview Photography is one form of art; early existence is believed to be in the 18th century. In the year 1826 to be exact, an inventor named Joseph Nicéphore Niépce from Le Gras of east central France created the first photograph; portraying a view outside his workroom window’s with the size of 8x6.5-inch (Harry Ransom Center, 2007). It was developed on a pewter plate. After the first photograph, efforts were made in redefining and improving the quality of photograph; through the invention of the first glass negative by mathematician Sir John Herschel. Nevertheless, photography has only been publicly recognised after the invention of flexible roll film by George Eastman, the founder of Eastman Kodak Company. Company Background Kodak has been a strong and recognizable brand since the birth of its first simple camera in the year 1888. George Eastman’s brilliant invention marked a new era for the photography world; creating easier processes in developing photographs and thus made it accessible to almost everyone. Figure SEQ Figure \* ARABIC 1: Eastman Kodak Company logo (Source: christopher.veronda@kodak.com) George Eastman’s invention of the flexible roll film in 1889:- an emulsion coated on a cellulose nitrate film base has made the box camera a sensation and mass-produced afterward. Since then, Eastman Kodak Company has led the photography industry with new products. The new invention makes photography a simpler task, more useful and more enjoyable. Kodak expanded the company’s product and services not only for photographs but for images used in a variety of leisure, medical, business, entertainment and scientific applications as well. Its reach increasingly involves in info-imaging; a technology that combine images and information, creating a new medium in businesses communication. Info-imaging affects almost all markets and industries in some forms or another; similar to the impact and creation of range of markets worldwide through the existence of the automobile industry. Eastman’s goal in making photography “as convenient as the pencil,” somehow manages to touch people's daily lives and continues to reach people all over the world over time. Kodak’s strategy of expanding the range of its products’ eventually widen the market categories to venture in and as a result; the company ranks as a premier multinational corporation, a brand recognized in virtually every country around the world. Theory of innovation Eastman Kodak Co. has been a strong domination of the photography industry and is the name that popularized photographs at the beginning of the 20th century. Kodak is a trusted leader in conventional and digital technologies that serve the commercial, packaging, and functional printing markets (Kodak, 2010). It holds a staggering 90 percent domination of its category of the film and camera in the US (Farrell, 2012) market by mid-70 and continues to dominate the household brands up to the end of the 20th century. According to a blog site named Branding Insider, Kodak remained passive in until mid-90’s when they started to invest in digital imaging. Kodak’s big step to move into the digital business by developing and manufacturing digital cameras and digital printers however was not able to save the company from the technology cosmic downturn. Although the products are good, but it is already too late as the digital camera category has been dominated by Kodak’s major competitors. Kodak has great brand equity, but due to the shifting interest from film to digital has led to brand erosion. The company started to struggle and facing the danger toward the end of the century; first with Japanese competition and later its failure to reinvent itself in the digital age. Modern economic models and global competition have caused several giant companies to closure, but it is the digital technology that has been a destructive typhoon that crippled every aspect of Kodak’s business completely irrelevant. Among the obvious causes of the downturn of the company were; Film photographs market reach its maturity stage in terms of life cycle; Failure to recognize the potential mass-market of the digital camera; Increased competitors in the industry and provide lower price films compares to the one of Kodak; Similar qualities to that of the different brands; failure to keep up with other camera companies, such as Canon, Nikon etc.; the invention of smartphones that came along with camera; consumer demand for Kodak's traditional products has evaporated; dependency on outdated distribution technologies, no developments on competitive technologies; Consumers point of view - film as a normal commodity and purchase often on price alone; Influenced by Eastman legacy causes the company to bind up with nostalgia, glorious past. Impact of innovation towards entrepreneurship Branding is vital to distinguish products from different sellers (Aaker,1991) whereas brand awareness is a gauge of brand knowledge; the likelihood of Effectiveness of Innovation Brand loyalty is the key component of brand equity. In the efforts of a brand to earn its loyalty, consumers should be committed to the brand, making repeat and consistent purchases over time. Consumers’ behaviour resulted to a brand loyalty often affected by a person’s preferences. Brand Association oog Recommendations Conclusion It is concluded that Kodak brand has high brand equity with loyal consumers that are so familiar with the household brand name after an outstanding 100- Appendices Appendix A Works Cited Strategic Brand Management 8