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 & only brand within its category 1982 | Edwin Land left the company early 90s | introduction of digital cameras Oct 2001 | couldn‘t compete with digital cameras & filed a bankrupcy Consumer Centric Marketing | 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 product is not good† Consumer Centric Marketing | Why Polaroid failed? 3 Polaroid | Contextualizing Competitive Advantage competitiveness level market orientation sales orientation product orientation production orientation until mid 80s supply < demand supply = demand supply > demand 4 innovative excellence first mover cult status brand identity Consumer Centric Marketing | Why Polaroid failed? Polaroi d | Changes in the market competitiveness level market orientation mid 80s onwards 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 recordâ€Å"Reaction 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 digital camera competitors Polaroid nowadays perceived as ‚artsy‘ & ‚retro‘ Consumer Centric Marketing | Why Polaroid failed? 7 Polaroid | Way Around It & ConclusionPolaroid could have branded 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 value rather than products & technology Keep up with the market trends Anticipate future changes & implications Satisfy a need â€Å"camera should go beyond amusement and record making to become a continuous partner of most human beings†¦ a new eye, a second memory. â€Å" (Land) Consumer Centric Marketing | Why Polaroid failed? 8 Polaroid | Sources Arvidson, Erik, „Polaroid Historyâ€Å", 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? â€Å", 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