Polaroid Corporation

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 & whole brand within its category 1982 Edwin Land left the company early 90s introduction of digital cameras Oct 2001 couldnt compete with digital cameras & filed a bankrupcy Consumer Centric selling 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 intersection is not good Consumer Centric Marketing Why Polaroid failed? 3 Polaroid Contextualizing Competitive payoff competitiveness level market orientation sales orientation carrefour orientation production orientation until mid 80s run demand supply = demand supply demand 4 innovative excellence first factor cult status brand identity Consumer Centric Marketing Why Polaroid failed? Polaroid Changes in the mar ket competitiveness level market orientation mid 80s in front 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 magnetic discReaction 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 digi tal camera competitors Polaroid nowadays perceived as artsy & retro Consumer Centric Marketing Why Polaroid failed? 7 Polaroid Way Around It & ConclusionPolaroid could have mark 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 assess rather than products & technology Keep up with the market trends Anticipate future changes & implications Satisfy a need camera should go beyond amusement and temper making to become a continuous partner of most human beings a new eye, a second memory. (Land) Consumer Centric Marketing Why Polaroid failed? 8 Polaroid Sources Arvidson, Erik, Polaroid History, 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? , 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