Kodak made four strategic errors: becoming complacent as a monopolist, failing to reinvent itself, having an inconsistent marketing and distribution strategy, and trying to squeeze too much money from the film business. It also made some positive moves, like using differentiation strategy and the 5 P's of marketing. However, the major lesson is that every business must adapt to changes in both external and internal factors, and Kodak's inability to adapt led to its decline.
Kodak made four strategic errors: becoming complacent as a monopolist, failing to reinvent itself, having an inconsistent marketing and distribution strategy, and trying to squeeze too much money from the film business. It also made some positive moves, like using differentiation strategy and the 5 P's of marketing. However, the major lesson is that every business must adapt to changes in both external and internal factors, and Kodak's inability to adapt led to its decline.
Kodak made four strategic errors: becoming complacent as a monopolist, failing to reinvent itself, having an inconsistent marketing and distribution strategy, and trying to squeeze too much money from the film business. It also made some positive moves, like using differentiation strategy and the 5 P's of marketing. However, the major lesson is that every business must adapt to changes in both external and internal factors, and Kodak's inability to adapt led to its decline.
Let’s START. Introduction Identify four (4) errors in strategy that Kodak made
Identify four (4) positive strategic moves that
Kodak made
What is the major lesson we can take away
from this case study • Kodak had become complacent monopolist • Failed to reinvent itself
• Marketing &, distribution strategy
• Leadership is inconsistent. • They tried to squeeze, as much money out of the film business as possible • They also had good management resources, first- rate technology, sound financial footing a reputable brand and excellence in its diverse workforce.
• Using the 5 P’s marketing
• They used differentiation strategy "The most important lesson we can gather from this case study is for every business' ability to adapt. Adaptation comes from the possibility of change, and change affects both the external and internal factors of the business." Thank you