Fujifilm, Kodak, Japanese market
Kodak was founded in the late 1880s by Eastman George. Its original name was Eastman Kodak Company. The company is credited for launching its revolutionary camera that made the process of taking photos simpler (Stuart, 2005). Kodak focused on imaging and photography that entailed production of photography equipment used in filming, color and paper chemicals. After one hundred years of operation, the market share for Kodak was at 90%. In 1975, Kodak had an idea to develop a basic technology associated with digital cameras, but due to fear that this would threaten the film business, it was dropped. The executives at Kodak did not want to abandon the traditional film. They did not realize how digital cameras would become common within a short time. Since there was a slow transition of traditional to digital technology and competition from other companies, Kodak lost a considerable market share globally. By early 2012, Kodak filed for Chapter 11 bankruptcy protection which was approved by the court for financing. Kodak was able to sell its patents to various companies like Google, Apple and Microsoft among others (Stuart, 2005).
Fujifilm was started in 1934 and like Kodak, focused on imaging and photography. The company was at the top of the Japanese market and ranked the second best in film usage after the United States (Nakamura, 2000). Fujifilm entered the global market and made use of aggressive marketing with low prices. The company's breakthrough was in 1984 when it chosen to be the official film of the Los Angeles Olympics. Fujifilm took its place in the global market permanently. This made it overtake Kodak's market share since they offered similar products at a cheaper price. Fujifilm was fast to widen its business scope to printers, digital cameras, optical devices and photocopier. In addition, Fujifilm engaged its services into the health sector by producing medical equipments and machines such as x-ray imaging and chemicals (Nakamura, 2000).
[...] The companies should build an environment that encourages feedback in order to improve its services and products. Long term planning Companies should not only respond to fads, trends and quarterly numbers nut also look much farther and come up with products that have the ability to resonate for a long time. Many efforts should be focused in monitoring the possible market changes and come up with products that will be able to stay strong regardless of the changes (Grunig & Kuhn, 2005). [...]
[...] Fujifilm, on the other hand, was quick to note the upcoming changes in the photography technology and made efforts to implement them (Baron, 1997). They capitalized in film photography ad used the revenues to implement digital technology. Its photography segment remained powerful in the market regardless of the changes. Fujifilm ventured into maintaining high levels of profits in case there was a decline of its main business in film photography. As a result of the in-house expertise and products, Fujifilm's diversity experienced a smooth and stable transition to the market conditions that were experiencing changes. [...]
[...] Fujifilm was started in 1934 and like Kodak, focused on imaging and photography. The company was at the top of the Japanese market and ranked the second best in film usage after the United States (Nakamura, 2000). Fujifilm entered the global market and made use of aggressive marketing with low prices. The company's breakthrough was in 1984 when it chosen to be the official film of the Los Angeles Olympics. Fujifilm took its place in the global market permanently. This made it overtake Kodak's market share since they offered similar products at a cheaper price. [...]
[...] In the early 2000's, Kodak was acknowledged by Business Ethics Magazine for laying down some anti-discriminative policies that addressed employees' sexuality and fair treatment of women and minorities. These efforts made Kodak reputation and image come out as a conscientious and trustworthy company hence attracting a strong and loyal base of customers. Fujifilm is also committed to ethics and social responsibility. They set high standards that their employees observed and comply with that include top-level management. By doing this, these values and measures are integrated all through the activities and procedures to increase efficiency and productivity. [...]
[...] References Baron, D. P. (September 06, 1997). Integrated Strategy and International Trade Disputes: The Kodak-Fujifilm Case. Journal of Economics & Management Strategy 291-346. Eastman Kodak Company SWOT Analysis. (2003). Datamonitor Plc. Grünig, R., & Kühn, R. (2005). Successful decision making: A systematic approach to complex problems. Berlin: Springer. [...]
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