Polaroid Corporation Free Essays

Polaroid | Why Polaroid failed Polaroid | Background Information 1937 | founded by Edwin Land first to switch to colored dyes 1948 | launch of instant film cameras first only brand within its category 1982 | Edwin Land left the company early 90s | introduction of digital cameras Oct 2001 | couldn‘t compete with digital cameras filed a bankrupcy Consumer Centric Marketing | Why Polaroid failed? 2 Polaroid | Edwin Land Factory of innovation 535 patents Block-buster creator House Genius Edwin Land centric company Product-oriented Showman Marketing is what you do when your product is not good† Consumer Centric Marketing | Why Polaroid failed? 3 Polaroid | Contextualizing Competitive Advantage competitiveness level market orientation sales orientation product orientation production orientation until mid 80s supply demand supply = demand supply demand 4 innovative excellence first mover cult status brand identity Consumer Centric Marketing | Why Polaroid failed? Polaroid | Changes in the market competitiveness level market orientation mid 80s onwards sales orientation product orientation production orientation rices for conventional cameras drop 1-hour-photo shops emerge home computers digital cameras supply demand 5 supply demand supply = demand Consumer Centric Marketing | Why Polaroid failed? Polaroid | Reactions Cause of Failure Polaroid stayed product-centric Failed to anticipate market changes implications Ignored opportunity despite having technological expertise fixated on Polaroids „As electronic imaging becomes more prevalent, there remains a basic human need for a permanent visual recordâ€Å" Reaction to changes too slow Loss of key brand asset competitive advantages Consumer Centric Marketing | Why Polaroid failed? 6 Polaroid | Loss of Competitive Advantage limited interactivity (social network etc. ) lack of convenience (10 pics at a time) expensive compared to digital cameras emergence of instant printing shops. brand identity adopted by digital camera competitors Polaroid nowadays perceived as ‚artsy‘ ‚retro‘ Consumer Centric Marketing | Why Polaroid failed? 7 Polaroid | Way Around It Conclusion Polaroid could have branded digital products as a logical extensions of its instant range if they had anticipated the changes early enough and reacted accordingly Concentrate on product brand value rather than products technology Keep up with the market trends Anticipate future changes implications Satisfy a need â€Å"camera should go beyond amusement and record making to become a continuous partner of most human beings†¦ a new eye, a second memory. We will write a custom essay sample on Polaroid Corporation or any similar topic only for you Order Now â€Å" (Land) Consumer Centric Marketing | Why Polaroid failed? 8 Polaroid | Sources Arvidson, Erik, „Polaroid Historyâ€Å", retrieved from http://www. how. com/info_8730013_polaroidhistory. html Camerapedia. wikia. com, http://camerapedia. wikia. com/wiki/Polaroid, viewed Oct 6th 2012 Haig, Matt (2011), „Brand Failures: The Truth About the 100 Biggest Branding Mistakes of All Time† Polaroid. com, http://www. polaroid. com/about-us, viewed Oct 7th 2012 Smith, Andrea Nagy (November 2009), „What was Polaroid thining? â€Å", in: Behavioral Research, A publication of the Yale School Of Management, retrieved from http://qn. som. yale. edu/content/what-waspolaroid-thinking Consumer Centric Marketing | Why Polaroid failed? 9 How to cite Polaroid Corporation, Essay examples