Eastman Kodak Company is known as Kodak. It is an American technology company focused on imaging solutions and services for businesses. Eastman’s first camera, the Detective, was created in 1886. Soon after in 1888, Eastman created a superior model, the Eastman Kodak camera to replace his poorly selling Detective.

Kodak was once a leader and legendary brand in the photographic film industry. It used the catchy slogan “You press the button, we do the rest” to successfully market its digital camera products.

Kodak began to struggle financially in the late 1990s as a result of the decline in sales of photographic film and its slowness in transforming to digital photography. Kodak was under intense pressure to survive in the digital imaging business. Kodak lost 90 percent of it’s market value and is facing the threat of extinction.

Kodak has tried to transform itself from an aged old film technology business into a fast and digital cultured business but has failed as a result of decline in sales in the United States. It is still trying to play catch-up with rivals such as Canon, Sony and HP. Its current products and services span across digital cameras, inkjet printers, sensors, retail kiosks, workflow and business process services and software through to consumer, professional photographic film, paper processing chemicals and industrial materials such as films for printed circuit boards. Its main business segments are Digital Printing & Enterprise and Graphics, Entertainment & Commercial Films. Kodak is best known for photographic film products. During most of the 20th century Kodak held a dominant position in photographic film.

Kodak has superior brand recognition as compared to rival brands. Its brand was supported by its massive worldwide distribution presence through retail photography stores, film processors and professional photographers which provided Kodak with the competitive advantage. Kodak leads in the higher-end photo quality camera segment where it launched its major innovations in imaging. Traditionally, Kodak has strengths in photofinishing services and consumables such as paper, ink and chemical technology. This is derived from a rich portfolio of 11,000 patents derived from a strong R&D investment.

                                          

                                               CHANGES OF LOGO

Recommendation:

In order for Kodak to sustain a competitive advantage, it needs to strategically transform its entire business model around to capture new and unique growth opportunities. There are several options which Kodak can explore to achieve this strategy. Kodak needs to strategically transform its entire business model around to capture new and unique growth opportunities. It is recommended to improve efficiency and simplify the organization. Kodak should have leadership to communicate and influence vision and change to capture new business models and better match user needs and economic value.

References 

http://articles.businessinsider.com/2011-10-05/strategy/30246134_1_eastman-kodak-photography-icon-john-larish

http://www.nytimes.com/2004/04/19/business/technology-advice-to-help-kodak-compete-in-the-new-world-of-digital-photography.html?pagewanted=print&src=pm

http://www.kodak.com/US/plugins/acrobat/en/corp/HSE/issuesandchallenges.pdf

http://www.guardian.co.uk/business/2012/jan/19/kodak-bankruptcy-protection

http://www.kodak.com/US/en/corp/researchDevelopment/whatWeDo/development/designUsability/history.shtml