3. What are the alternatives? What do you do if you're a CEO and realize that your...
Question:
3. What are the alternatives? What do you do if you're a CEO and realize that your company's bread and butter product- the one that provided the bulk of its sales and profits over the last 115 years-has begun to lose market share? And what do you do when you realize that not only is the flagship product losing market share but also will be as obsolete as the buggy whip in a few short years? Well, if you're Antonio Perez, the CEO of Eastman Kodak, you start developing innovative new products real fast and hope-no pray-that the sales decline in your basic product, film for point-and-click cameras, doesn't leave you without enough money to invest in new technologies that will keep Kodak from going the way of the dodo bird and become extinct. Until recently, Kodak was a company that operated its business by its 1888 advertising slogan, which was "you press the button, we do the rest." While Kodak produced cameras, the company made money from its film business, from processing film and from selling film processing supplies, like paper and the chemicals needed to develop pictures. However, Kodak's business model changed in a big way when digital technology arrived on the scene.
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Marketing Real People Real Choices
ISBN: 9780132299206
5th Edition
Authors: Michael R. Solomon, Greg W. Marshall, Elnora W. Stuart