Eastman Kodak has been able to maintain business in a tough market that has changed dramatically fast. Kodak’s core competitive advantage was redundant with the new digital moves happening. The introduction of digital imaging has taken off beyond anyone’s belief. Eastman Kodak has acquiring other business in trying to gain a competitive advantage in markets they have never been in. Between 1985 and the early 1990’s, Eastman Kodak acquired several companies hoping to drive their sales and profits. In order to keep a competitive advantage in the market, Eastman Kodak will have to do several key things.
Eastman Kodak’s brand name speaks for its self. It is one of the most recognizable brand names in the country. Use this to the advantage of the company.
In a market that has changed so quickly, a company has to be able to come up with a strategic plan in order to make sure they will continue as a profitable business. Hiring has been a key strength for Kodak. Being able to bring in executives with experience and expertise has helped Kodak maintain their advantage. The role of the company now is to utilize those executives to continue to grow Kodak as a business.
Some of the products that Kodak has introduced have their competitors wondering how they can get that same advantage. The 2003 introduction of the EasyShare camera docks hit the market and Kodak gained immediate advantage. Due to it being the only product on the market at the time, Kodak found a product that no one else was producing creating scarcity. This R&D investment had paid off. Being the innovator of new products and services is important for Kodak to stay in business. With so many competitors out there, scarcity and differentiation is important.
Kodak’s was forced into a changing market. Being almost a monopoly for years in the film business, digital imaging was a huge step that Kodak had to figure out. In the early...