Free Polaroid-Kodak (B1) Case Study Solution | Assignment Help

MBA Staff Writer
Written by Gary F. Smith
Publish Date: 2024-12-03

Harvard Case - Polaroid-Kodak (B1)

"Polaroid-Kodak (B1)" Harvard business case study is written by Michael E. Porter. It deals with the challenges in the field of Strategy. The case study is 3 page(s) long and it was first published on : Jan 1, 1978

At Fern Fort University, we recommend that Polaroid should aggressively pursue a disruptive innovation strategy focused on digital imaging and new business models to counter Kodak's dominance and secure a sustainable competitive advantage. This strategy should involve strategic alliances, product development, and market segmentation to tap into emerging markets and leverage the power of the internet and social media.

2. Background

The case study focuses on the rivalry between Polaroid and Kodak, two giants in the photographic industry. Polaroid, known for its instant film technology, faced a declining market share due to Kodak's dominance in the traditional film market. Kodak, however, failed to anticipate the rise of digital photography, leading to a decline in its own market share. The case explores the strategic decisions and challenges faced by both companies in the face of technological disruption.

The main protagonists are:

  • Edwin Land, the visionary founder of Polaroid, who revolutionized photography with his instant film technology.
  • George Eastman, the founder of Kodak, who democratized photography with his roll film technology.
  • Gary DiCamillo, the CEO of Polaroid in the late 1990s, who grappled with the company's declining fortunes and the rise of digital photography.

3. Analysis of the Case Study

Competitive Analysis:

  • Porter's Five Forces: The photographic industry in the late 1990s was characterized by high competitive rivalry between Polaroid and Kodak, as well as the emergence of new digital camera manufacturers. Threat of new entrants was high due to the declining barriers to entry in the digital camera market. Bargaining power of buyers was increasing as consumers gained access to cheaper alternatives. Bargaining power of suppliers was relatively low due to the availability of multiple suppliers for raw materials and components. Threat of substitutes was high due to the rise of digital photography.
  • SWOT Analysis:
    • Polaroid:
      • Strengths: Strong brand recognition, innovative technology, loyal customer base.
      • Weaknesses: Limited product portfolio, high manufacturing costs, dependence on proprietary technology.
      • Opportunities: Digital imaging, new business models, emerging markets.
      • Threats: Kodak's dominance, competition from digital camera manufacturers, declining film market.
    • Kodak:
      • Strengths: Large market share, strong brand recognition, extensive distribution network.
      • Weaknesses: Slow to adapt to digital technology, inflexible organizational culture, declining film market.
      • Opportunities: Digital imaging, new business models, emerging markets.
      • Threats: Competition from digital camera manufacturers, declining film market, Polaroid's potential resurgence.

Value Chain Analysis:

  • Both Polaroid and Kodak had strong value chains built around their core competencies in film technology, manufacturing, and distribution. However, the rise of digital photography disrupted their traditional value chains, requiring them to adapt and innovate.

Business Model Innovation:

  • Polaroid needed to shift from its traditional hardware-centric business model to a more service-oriented model that leveraged digital technology. This could involve offering online photo printing, image editing services, and digital camera accessories.

Strategic Planning:

  • Polaroid needed to develop a clear strategic plan that outlined its vision for the future, its target markets, and its competitive strategy. This plan should have been based on a thorough PESTEL analysis of the external environment and a stakeholder analysis of its key stakeholders.

4. Recommendations

1. Embrace Digital Imaging: Polaroid should invest heavily in research and development to develop its own digital camera technology and software. This could involve mergers and acquisitions with existing digital camera companies or strategic alliances with technology companies.

2. Develop New Business Models: Polaroid should explore new business models that leverage the power of the internet and social media. This could include online photo printing services, digital photo sharing platforms, and mobile apps for instant photo editing and sharing.

3. Target Emerging Markets: Polaroid should leverage its brand recognition and innovative technology to target emerging markets where the demand for digital cameras is growing rapidly. This could involve market development strategies and strategic alliances with local distributors.

4. Focus on Product Differentiation: Polaroid should differentiate its products by focusing on features that appeal to specific market segments. This could include developing digital cameras with unique design elements, innovative features, or specialized functionalities.

5. Implement a Digital Transformation Strategy: Polaroid should embark on a comprehensive digital transformation that involves upgrading its information systems, implementing AI and machine learning algorithms, and developing a robust digital marketing strategy.

6. Foster a Culture of Innovation: Polaroid should create a culture that encourages entrepreneurship, experimentation, and risk-taking. This requires empowering employees, fostering collaboration, and providing incentives for innovation.

5. Basis of Recommendations

These recommendations consider:

  1. Core competencies and consistency with mission: Polaroid's core competency in imaging technology can be leveraged to develop innovative digital imaging solutions, aligning with its mission to provide consumers with unique and memorable photographic experiences.
  2. External customers and internal clients: The recommendations cater to the evolving needs of customers who are increasingly embracing digital photography and seeking convenient and accessible image sharing solutions. They also empower employees to contribute to the company's innovation and growth.
  3. Competitors: The recommendations aim to differentiate Polaroid from its competitors by focusing on unique product features, innovative business models, and targeted market segments.
  4. Attractiveness: The recommendations are based on the potential for significant value creation through the development of new markets, the expansion of product offerings, and the adoption of digital technologies.

6. Conclusion

By embracing digital imaging, developing new business models, targeting emerging markets, and fostering a culture of innovation, Polaroid could have successfully navigated the technological disruption and secured a sustainable competitive advantage in the photographic industry. The company's failure to adapt and innovate ultimately led to its decline, highlighting the importance of strategic foresight and a willingness to embrace change in the face of disruptive innovation.

7. Discussion

Alternatives not selected:

  • Sticking to the traditional film market: This option would have resulted in continued decline as the film market continued to shrink.
  • Focusing solely on digital cameras: This option would have been risky as the digital camera market was highly competitive and rapidly evolving.

Risks and key assumptions:

  • Technological advancements: The rapid pace of technological advancement could have made Polaroid's investments in digital imaging obsolete.
  • Consumer acceptance: Consumers might not have embraced Polaroid's new digital products or business models.
  • Competition: New entrants and existing competitors could have quickly eroded Polaroid's market share.

8. Next Steps

Timeline with key milestones:

  • Year 1: Develop a strategic plan, invest in R&D for digital imaging technology, launch a pilot program for a new digital photo sharing platform.
  • Year 2: Launch a full-fledged digital camera product line, expand into emerging markets, acquire or partner with a digital camera manufacturer.
  • Year 3: Refine product offerings based on market feedback, leverage social media for marketing, expand online photo printing and editing services.

By implementing these recommendations and adapting to the changing market landscape, Polaroid could have successfully navigated the challenges of technological disruption and emerged as a leader in the digital imaging industry.

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Case Description

Describes additional events in battle between Polaroid and Kodak outlined in Polaroid-Kodak. Includes the competitive actions taken by the companies such as the introduction of customer rebates and bonus plans with dealers. Details the new products of each company and the marketing practices employed. Designed to allow a contrast to Kodak's entry into instant cameras.

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