Kodak Key Success Factors

504 Words3 Pages
In order for a company to be successful in any industry, it must adapt to its consumer tastes. The same applies in the photography industry, where companies like Kodak must be able to evolve with new consumer preferences. If a company does not offer the products and services that consumers demand then there is a high probability that consumers will shop elsewhere. In the photography field it is important that the products and services be not only user friendly, but offers a variety of features and easily transferable data. Some important features include zoom range, video recording, time between taking pictures (on digital cameras), and memory card and the length of time needed to transfer pictures. Companies in this industry must ensure that its products appeal to long time photographers, and are easy to learn for those who are new to the field. In addition, price and customer awareness are important. Cameras must be affordable, as consumers are becoming more and more price conscious. Also, in an industry where the printing of photos is decreasing, it is imperative for consumers to be made aware of the quality and affordability of professional printing in order to maintain market share and profit. If consumers believe it is expensive to print photos, they will be inclined not to print and store pictures on a disk or print at home with a low quality printer. Strategic position After conducting a thorough analysis of Kodak’s financial statement, it is evident that the assets owned by Kodak are not being used in an effective nor efficient manner (Refer to Appendix A). This is evident after taking a close look at the company’s returns on investment which were recorded between 1998 through 2000. This was recorded at just fewer than 10 percent. Another significant aspect that can be pointed out is reflected in 2003 with about 2 percent. This is indeed a
Open Document