Case Analysis Of Funtime
Funtime
The idea of funtime is to have no advertisement support, offered in limited quantities at certain off peak season times and sold only in value packs.
Its availability will be the main concern and it will cause customers to get confused and retailers will be agitated by the confused customers.
Options Regarding Funtime
Launch Funtime time off peak season
The launch will definitely attract customers as buying a name brand at cheaper price is what most of the people are looking for.
But product availability for certain times of year will cause confusion among customers and will be a headache for retailers. Funtime is an innovative yet confusing idea and seems like a desperate move. It might make people stock on these items and sell for …show more content…
Cheaper quality and more like pretend play coming alive.
Make an underwater camera and launch a film that can be specified to use only with weather proof cameras
Night vision camera and films
Launch a portable phone with option of an inbuilt camera
Strategies
Kodak has to focus on getting its market share back from 70% to 76%. It will need to work hard otherwise it will be a slippery slope for Kodak. Fuji and Polaroid are furious competitors if no amends are made at this time these companies will take over.
As research has shown that in past couple years there has been a growth in film usage from 15% to 20% it means market is on growth track and customers can be attracted towards new products.
Priorities for Kodak
Kodak needs to come up with a product that will attract the samplers in becoming a permanent customer 20%- 30% of the customers from other companies should be converted to Kodak customers.
Kodak should introduce a Customer Reward card or loyalty program that will get the occasional customers to become regular customers.
Kodak should target the superpremium category buyers such as professional photographers for the most expensive and high tech …show more content…
Become innovative and technology leader
Start a customer reward program to attract “samplers”
Offer premium services and offers to superpremium customers only
Market research to have cutting edge technology as well as pricing
Not only develop new film segments but expand its horizons and make new designs for imaging and camera products.
Customer Loyalty Program Benefits for Kodak
There are many benefits of launching a customer loyalty program.
It gives the Kodak access to their customer’s purchasing pattern.
Helps retain the current customer by providing them with point system benefits or options to move to higher tiers and use their points towards next purchase to get discount
A loyalty program should help get new customers but it depends on how exciting and beneficial it is to the customers.
Loyalty programs can help target the customers who are not profitable (do more returns, shop only the discounted item)
It reduces the cost of advertising and promotions. Better targeted audience for advertisement/marketing by sending promotions/offers/coupons in
The idea of funtime is to have no advertisement support, offered in limited quantities at certain off peak season times and sold only in value packs.
Its availability will be the main concern and it will cause customers to get confused and retailers will be agitated by the confused customers.
Options Regarding Funtime
Launch Funtime time off peak season
The launch will definitely attract customers as buying a name brand at cheaper price is what most of the people are looking for.
But product availability for certain times of year will cause confusion among customers and will be a headache for retailers. Funtime is an innovative yet confusing idea and seems like a desperate move. It might make people stock on these items and sell for …show more content…
Cheaper quality and more like pretend play coming alive.
Make an underwater camera and launch a film that can be specified to use only with weather proof cameras
Night vision camera and films
Launch a portable phone with option of an inbuilt camera
Strategies
Kodak has to focus on getting its market share back from 70% to 76%. It will need to work hard otherwise it will be a slippery slope for Kodak. Fuji and Polaroid are furious competitors if no amends are made at this time these companies will take over.
As research has shown that in past couple years there has been a growth in film usage from 15% to 20% it means market is on growth track and customers can be attracted towards new products.
Priorities for Kodak
Kodak needs to come up with a product that will attract the samplers in becoming a permanent customer 20%- 30% of the customers from other companies should be converted to Kodak customers.
Kodak should introduce a Customer Reward card or loyalty program that will get the occasional customers to become regular customers.
Kodak should target the superpremium category buyers such as professional photographers for the most expensive and high tech …show more content…
Become innovative and technology leader
Start a customer reward program to attract “samplers”
Offer premium services and offers to superpremium customers only
Market research to have cutting edge technology as well as pricing
Not only develop new film segments but expand its horizons and make new designs for imaging and camera products.
Customer Loyalty Program Benefits for Kodak
There are many benefits of launching a customer loyalty program.
It gives the Kodak access to their customer’s purchasing pattern.
Helps retain the current customer by providing them with point system benefits or options to move to higher tiers and use their points towards next purchase to get discount
A loyalty program should help get new customers but it depends on how exciting and beneficial it is to the customers.
Loyalty programs can help target the customers who are not profitable (do more returns, shop only the discounted item)
It reduces the cost of advertising and promotions. Better targeted audience for advertisement/marketing by sending promotions/offers/coupons in