As an assistant in the product development division of Kodak, I have to be aware of the product range of my company. My company Kodak develop so many products i.e. from films to motion cameras and from digital printers to inkjet cartridges.
Now my company have a lot of products in the market and we are the leader in the photograpy industry and our product range is very vast so we have to be very careful to advertise our products. We have so many challenges in the market and the competition is getting tougher and tougher day by day. Kodak produces the following products and services to the customers.Product Range Of Kodak.
Following is the product range of Kodak
Kodak is the largest supplier of photographic films in the world.
Kodak is a principal producer of silver halide (AgX) paper used for printing from film and digital images .
Kodak made an announcement On January 13, 2004 it would stop marketing traditional film cameras (apart from disposable cameras) in the United States, Canada and Western Europe, but will keep doing to sell film cameras in India, Latin America, Eastern Europe and China.
Digital picture frames
Kodak first start the Kodak Smart Picture Frame on the QVC shopping channel in the fourth quarter of 2000, at a time when the most of the consumers didn't know about or understand this new category.Instant cameras
After losing a patent battle with Polaroid Corporation, Kodak left the instant camera business on January 9, 1986. The Kodak instant camera included models known as the Kodamatic and the Colorburst.Digital cameras
Kodak became well-known for the Kodak DCS DSLR camera series, including the first commercial DSLR Kodak DCS 100 which was Nikon based.Image sensors
As part of its move toward higher end products, Kodak declare on September 15, 2006 that the new Leica M8 camera would assimilate Kodak's KAF-10500 image sensor. This was the second partnership between Kodak and the German optical Giant.Motion picture and TV production
The Kodak company grips a crucial role in the invention and maturation of the motion picture industry. Many cinema and TV productions are shot on Kodak film stocks.Document Imaging
In a historical manner this industry began when George Eastman partnered with banks to image checks in the 1920's. Since then Kodak provides document imaging solutions and is the leader of document imaging.Technical Support
Besides technical phone support for its products, Our company offers onsite service for other companies devices such as document scanners, optical storage systems, printers, microfilm / microfiche equipment, photo kiosks and photocopiers, for which Kodak dispatch technicians who make repairs in the field.Inkjet printers and ink cartridges
Kodak take part into consumer inkjet photo printers in a collaboration with manufacturer Lexmark in 1999 with the Kodak Personal Picture Maker. In February 2007, Kodak re-entered the market with a new product line of All-In-One (AiO) inkjet printers, which activate or use Kodacolor Technology.Bundle of Benefits
In marketing, a product is anything that can be offered to a market that would satisfy a want or need. However the product is much more than just a physical object. It is the complete bundle of benefits or gratification that buyers sense they will obtain if they purchase that product. It is the sum of all physical, psychological, symbolic, and service attributes. We can say that customers buy benefits not products they don't buy any product if they don't know the benefits of that product which they will get after using it, they only buy a product which they know will benefit them in return. Every customer knows the value of his/her money and they don't buy any product which they can't use or which has less usage in their life. An easy example is All in one Printers which can copy scan and print documents so there is no need to buy a scanner copier and printer separately this all in one printer can do all and satisfy the customer's needs.
So according to this definition of bundle of benefits my product should be physically strong and stylish as compare to its competitors. The good look and the strength of a product attract the customers towards it. The product should be reliable and should last longer which also results the good name and popularity of the company and the customer recommends it to other customers and it also benefits the other products of the company. Our digital cameras is an example of it for example the Kodak EasyShare C913 camera is very stylish and cheap camera as compare to its other competitors and it has all the qualities which other cameras have but the price and the quality of photos is superb. In this today's financial crisis Kodak EasyShare C913 is the perfect option for holidays or nights out due to its ease of use and pocket ability. The stylish design the low price and the ease of use and the superior quality pictures are the qualities which satisfies the customer needs and delivers the bundle of benefits. You can achieve psychological satisfaction of the customer only when you describe and advertise your product in such a manner which directly or indirectly act on customer's mind.
"There is a difference between messages and copy. A message is an idea or thought that you express to a target audience through a number of activities. Copy is the articulation of the message for a particular activity.
For example, a message or idea may be "Ease of Use." Look at the impressive memorable Copy "It's so easy, even a caveman could do it." The message is ease of use, but the copy is very creative, clever and easy to remember. The copy transport the idea and may or may not use the specific words." (42 Rules Of Marketing by Laura Lowell).
So when we plan to introduce a product in the market we will study the market, the price of other similar products the quality and services of the competitors then after that we will create a strategy to launch our product. A product is not only a physical object which a customer buy, it is much more then that. A customer want to satisfy all his/her need and don't want any disturbance or headache using that product. Value of money is another thing which a customer want i.e. when a customer buy a product he/she considers that the product will fulfil all their needs and will be a good and satisfactory use of their hard earning money. Here i have another great example of Value for Money, our All In One Printers Kodak ESP 5 All-in-One Inkjet Printer is the best example of value for money and it delivers a complete bundle of benefits to the customers, the price is about 80 and it has all the features which a customer needs. The Kodak advertising message for customers is given below which is very attractive and which defines the printer superbly to customers.
" Kodak welcomes you to an easier way to print, copy, and scan photos and documents for less. With the KODAK ESP 5 All-in-One Printer you can save up to 50 percent on everything you print, compared to similar consumer inkjet printers. No matter how you choose to use it, now you can print, copy, and scan even more for less."
The price and the low cost cartages and the best results of ESP 5 are the qualities which a user want and we can say our product is a complete Bundle Of Benefits. Whatever a customer want from an all in one printer our ESP 5 has all and it is the best product for a customer and is a complete bundle of benefits.Why it is important for the firm to introduce new products
When a firm introduce a product in the market it gets the full share of the market and enjoys the benefits of being a leader in the market. The price of the product is higher to cover the cost of research and development and also include the price of the idea behind the product. After some time some other company make the same type of product and the profit divides. After some time more companies come in market and the market share divide further which is resulting in tighter situation. If that firm relays on the same product for a long time and stop further research and development of new products the firm will be die in no time.
There is a well know saying "Innovate or die" which means if a firm don't introduce new products it will be very hard and almost impossible to survive in the market. New product development is the need of today's changing world and is essential for a firm to survive.
"Everyone in industry knows that new products are essential for feasibility (viability) : If we don't continue to grow, we die. To grow, a company must continue to learn (research) and to make a difference in its industry (pioneer)....... Business, whether it sells waste management or interstellar communications, janitorial services or gene-splicing, lives through new growthnot through clones of the past." ( George Gruenwald New Product Development: Responding to Market Demand.)
Kodak company is the leader of digital printing and cameras. George Eastman introduced the first easy to use camera in 1888 and till now Kodak produce many more products in the market. If Kodak relayed on that camera the company should be died earlier and we would never know the name of Kodak but they knew that without the development of new products they can never be survive they introduced new products like films, digital cameras, film cameras, digital photo frames, motion cameras, image sensors, printers and instant cameras etc time to time to survive and grow its share in the market. Today Kodak is one of the largest multinational company having branches almost in every country because of its new product development and its continues research. Kodak have achieved the goal "you press the button, we do the rest," but can not stop their research because they have to survive and lead the photograpy industry and without new product development they can not lead the industry and can not survive with their legacy product for long time.
So a firm or a company can not relay on one product because it is almost impossible to survive in the market with only one product. We have so many examples of the company which change its products time by time and their research never stops. Without new product development
Here is some pictures of Kodak Cameras and the changes in its technology.
Identify five factors in the international environment that influence the marketing of Kodak
As the leader in photography industry Kodak faces great challenges from its competitors like Nikon in Cameras and HP in photo printing, here i will identify the 5 main factors which influence the marketing of Kodak.
Product is the main thing you want to sell it should be the services you offer or the physical product you wanna sell. Your product should be reliable and cheap and offer the great services for customers. Kodak products are well known all over the world and enjoy a big share in market. The new technology and development and research are the main characteristics of Kodak products. Good product results great benefits for the company.
Pricing is another big and great factor for a customer to buy a product. In today's world a customer can get the latest information about your product and your competitors and can decide what to buy so if your product have all the qualities and has less price then it's competitors then it should benefits your product. The price of Kodak Cameras and printing papers and printers is very low as compare to its competitors which is a great advantage for Kodak.
Product placement is very important for a firm and it plays very important role. Now a days we have huge superstores all over the world which contains all most all top products that all modern homes needed. Your product should be available everywhere in order to reach the customers on time. Here in the UK we have Curries, PC World and Agros which have all the electronic and electric products. Your product should be available in all the stores to reach the customers. You should have a good channel to deliver your product on time in the market whenever your customers need.
Promotion means how you promote your product to the world and your targeted audience or customers, it also include the advertising of the product the promotion you give to your customers. There are two ways to place your product to the world.
Direct Placement Or Advertising:
It includes the tv ads radio ads or other media advertising like internet billboards and hording. For this type of placement you have to pay to the ads agency.
Indirect Placement Or Advertising:
This includes the indirect advertising like sponsorship of the product, placement of product, support, promotion, merchandising, direct mail, selling, public relations, trading shows.People:
People means the workers of your firm how they look how they respond to the customers queries and their complains. How they help the customers. The more skilful and cooperative your workers are the more satisfy will be your customers, resulting the great influence on your firm.