MARKETING RESEARCH

REVAMP OF KODAK DIGITAL CAMERA

GROUP 6:Mahesh Murugesh

Gokulnath K S

Milan Agarwal

Sriram K

Niharika Gupta

history of kodak

Kodak is an American company that produces imaging products with its historic basis on photography.

Its main business segments are Print Systems, Enterprise Inkjet Systems, Micro 3D Printing and Packaging, Software and Solutions, and Consumer and Film.

During most of the 20th century, Kodak held a dominant position in photographic film

Japanese competitor - Fujifilm Decline in sales of photographic film – 1990s Kodak sold many of its patents to Apple, Google, Facebook, Amazon, etc. Filed for bankruptcy protection - 2012

problem statement

KODAK’S FAILURE TO RECOGNISE ITS STRENGTH

Invention of digital photography It thought that its new digital technology would cannibalize its film business They don’t want to disturb revenue making film business Arrival of Sony and Canon – Kodak’s delay to capture market

Proposed Solution Despite declining customer needs on traditional Kodak Camera, we need to

devise a plan for Kodak for its successful launch of a DSLR product. We are going to evaluate Kodak Camera along with its competitors considering

all the factors like Megapixel, Price, Battery life,. etc. We can analyze with the data of people who are willing to buy and those who

are not willing to buy. On examining the people who are not willing to buy, we can get the exact

reasons which is preventing them to buy. With all these market research facts, we have an idea of creating our own

Kodak Model later.

Kodak and its competitors’ factorsFeatures Canon Nikon KodakMegapixel 18 24.2 21

Built-in Wi-Fi & NFC YES NO YES

Display (inches) 3 3 3.5

Video Resolution HD (1080 x 1920) (HD) 1920X1080 HD(1920X1080)

Storage Capacity (GB) 8 16 16

ISO Rating ISO 100 to 6400 ISO 100 to 12800 ISO 100 to 12800

Optical Zoom 3X 3X 4X

Shutter speed (1/4000) (1/4000) (1/3000)

Battery life 500 shots 700 shots 550 shots

Price (Rs.) 26999 25900 26000

Questionnaire What is your Monthly Income Range? Do you currently own a DSLR camera? How often do you use your video camera? Which buying medium do you prefer?

Offline or Online Among the above mentioned brands which will you choose based on

features? How much are you willing to pay for 3 brands (Canon, Nikon, Kodak)? If you are not choosing Kodak, then what will be the reasons for it?

Responses: 94

Questionnaire’s ResponseCustomer’s Brand Preference Age Group

Features considered for comparison

Regression Analysis

COEFFICIENTSA

Model

Unstandardized Coefficients

Standardized Coefficients t Sig.

95.0% Confidence Interval for B

B Std. Error Beta Lower Bound Upper Bound

(Constant) 22802.194 955.196 23.872 .000 20868.500 24735.888MegaPixel -261.333 1504.814 -.027 -.174 .04432 -3307.669 2785.003Price -2343.147 1671.412 -.223 -1.402 .03774 -5726.743 1040.449Battery 2613.465 1661.489 .249 1.573 .02103 -750.043 5976.973

a. Dependent Variable: Willingness to pay for Kodak

Dependent variable: Willingness to pay for Kodak (Y)Independent variable: Features like Mega Pixel, Price and Battery life (X1, X2, X3)

Inference from Regression P-value > 0.05

H0: There is no relationship between features and willingness to pay P-value < 0.05

H1: There is relationship between features and willingness to pay

The significance of all three factors are less than 0.05, which says that there is relationship and rejects null hypothesis.

Exploratory research is an important part of any marketing

or business strategy It is used for defining company issues, areas for potential growth and alternative courses of

action Text responses will give you richer quality information that can lead to the discovery of

new initiatives or problems that should be addressed.

Now we know the customer needs and we will concentrate on improving brand image We will offer complementary products like Tripod stand, Extra lenses, Spare battery,

Camera Bag, etc. to attract the market segments. Extended warranty period can be given compared to other competitors

Our proposed Solution

THANK YOU