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Polaroid

MBA 251 - Lena and Maame
by

Olena Gryn

on 14 September 2013

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Transcript of Polaroid

Background & Industry
What Happened?


Polaroid founded: 1937 by Edwin H. Land
Modern instant camera discovered in 1947
Compatible imitators: Keystone, Konica and Minolta
Incompatible imitator: Kodak. More recently - Fujifilm
Brand
First released in 1972
Extremely popular instant camera
Pricing
: Camera: $180 = $988 today’s dollars
Film: $6.90/pack = $35.26 today's dollars
OneStep SX-70 camera exceeded 1bn dollars in sales in 1977
1998 - OneStep is the world's best selling camera
SX-70 Camera
"What You See is What you Get"
SX-70 Camera
"What You See is What you Get"
Cultish, fun, frivolous, throwaway brand
Luxurious and optional product
Reified-functional brand
Key brand asset = instant photography+ speed (not quality)
Product leadership
Market Segments & Positioning
Primary market:
social people with high disposable income
Secondary market:
professionals (photographers, crimininal investigators, etc.) & collectors
Positioning:

- Fun and convenience
- Legitimate art for
m
Competition
Polaroid unwilling to share market

Canon (more quality)
Kodak (lawsuit)
Conventional 35mm cameras
One-hour photo shops (no need to wait for a week for a photo to be developed)
Digital cameras

Polaroid loosing its key brand asset (speed)
Why Yes?
1998 - Polaroid loosing market share
Polaroid running out of options
2001 - Polaroid files for bankruptcy
2005 - Polaroid brand name acquired by Petters Group
2007 - Polaroid stops the production of cameras
2009 - Polaroid stops the production of film
Why?
Disruptive technology stole Polaroid customers
Brand diluted
Association of Polaroid & instant photography proven too strong in consumers' minds
Incapable of entering other photography markets
Top management decisions
Solution 1
Expand to new markets by acquiring/merging with other brands in digital and conventional photography markets
Solution 2
Create a strong niche as an instant photography brand and appeal to right values
Solution 3
Focus on electronic imaging instead
of instant photography
Top Management

Gain market share, but
Brand dilution
Substantial cultural and financial cost
Satisfying changing customer desire, but
Too risky
Have to play catch up
Management did not adjust to new market
1985: CEO MacAllister Booth: customers will always want a hard print
1995 - 2001: CEO Gary DiCamillo and other executives continued to believe in the importance of paper print
Company culture had a bias against electronic photography
Instant film was core of the financial model
Sources
Polaroid Today
Why Not?
Why Not?
Absolute leader in instant photography
Potential as strong niche product
How?
Move brand from Reified-Functional to
Reified-Enacted
Change
Emotional Benefit
"Social lubricant"
Making memories tangible
1. Polaroid - same brand name, different companies own it
2. The Impossible Project
http://www.dollartimes.com/calculators/inflation.htm
http://en.wikipedia.org/wiki/Instant_camera
http://en.wikipedia.org/wiki/Instant_camera
http://books.google.com/books?id=fw-Hvq7wSpsC&pg=PA161&source=gbs_toc_r&cad=4#v=onepage&q&f=false
http://www.pacificeconomicsgroup.com/jad/Other%20Reports/2912.pdf
http://casestudy.co.in/wp-content/uploads/2009/11/Polaroid-A-tired-brand.pdf
http://cultureandcommunication.org/deadmedia/index.php/Polaroid_Camera
Full transcript