Some common variables associated with segmentation are geographic, demographic, behavioral, and psychographic. Segmentation allows a company to be efficient and effective by meeting the needs of the customer while having the developed understanding of the customers’ needs; these needs may be satisfied with the product, price, place, and promotion. Change ), You are commenting using your Facebook account.
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Following is the distribution strategy of Kodak: Kodak has a very strong distribution network across the globe and has a very distinctive bran image due to its popularity in photographic segment. The content on MBA Skool has been created for educational & academic purpose only. They luckily have held on by a thread and have evolved into digital market. Kodak has also ventured into the digital camera market due to rising competition from 2000. It segments customers and audiences into groups that share similar characteristics such as demographics, interests, needs, or location. Change ), Marketing Role in the Company’s Strategic Planning, http://academic.brooklyn.cuny.edu/economic/friedman/mmmarketsegmentation.htm, Marketing role in the company’s strategic planning, Marketing Role in the Company’s Strategic Planning. This article elaborates the product, pricing, advertising & distribution strategies used by Kodak. Faraci will focus on the Commercial Segment and the company’s sales and regional operations, and Quatela will focus on the Consumer Segment and certain corporate functions.
Kodak is one of the most famous and oldest erstwhile technology company that is involved in aspects of photography, digital imaging and mobile devices. • Psychographic variables include social class, lifestyle, and personality.
Kodak is also aiming to grow in some of the emerging markets like China and India which is expected to show increased demand for digital cameras and printers due to increased consumption of consumer electronic goods and appliances. “Step 1: Market segmentation – divide the market into relatively homogeneous segments of customers; each of these groups, to be fully satisfied, needs its own marketing mix or product. (Market segmentation is dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs. Market segmentation is the process of dividing a target market into smaller, more defined categories. The target market is a subgroup of customers, which the company chooses and develops specific offerings for. Change ), You are commenting using your Twitter account. Founded by George Eastman and Henry A Strong the company was a dominant leader in 20th century in terms of photographic film. The target market should include only those segments of a market that are both profitable to serve and likely to be receptive to the products a company provides.