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The article deals with the story of the rise and fall of Kodak, one of the most innovative companies of all time failed to keep in pace with digital revolution. Even though the company was first to invent a digital camera in 1975, majority of its revenues were coming from traditional business of film development and printing rather than digital cameras. The article tries to analyse the root cause of this failure of Kodaks camera business and its inability to change with changing trends.
Introduction The digital product market today, is highly complex and susceptible to rapid changes. The definition of carrying out business is changing every day. Most of the traditional and lifeline products are losing their importance. Today, most of us no longer write letter or buy a news paper, in fact we seldom carry a hardcovered book. Everything is available digitally. Analog technologies are more of a symbol of nostalgia for most of us. In such a dynamically changing market it becomes important for a company to keep itself agile and anticipate the market changes in advance. Infact a market leader like Kodak should have not just anticipated the advent of digital technology but should have developed a strategy to utilize this change to its maximum potential. The Rise of Kodak The 133 year pioneer of the then photographic industry was Apple of its of time. From invention of first photographic film stored in form of a roll to inventing first digital camera, Kodak stood as a market leader and innovator for about a century. Instead of inventing new technologies, it was known to simplify technology and market it to the consumers in innovative ways. Its founder George Eastman Kodak had a vision, to make camera as convenient as a pencil. He almost made his vision to reality by making easy to use camera, away from the complication involved in professional cameras, making photography available to almost everyone who wanted to take photographs. Its not been very long when we have seen the commercial of Kodak Moments aired on channels, targeting its cameras as a part of anyone everyday routine, opening photography to the masses. Way back in 1975, it invented the first digital camera. Till 1976, Kodak had a 90% share in US film market, while 85% of camera market. There was a phase in the history of photographic industry that the brand became synonymous with the product camera, just like Xerox did for photocopying. With the advent of rapid change in technologies and its acceptance by the consumers, Kodak dropped the film making 35mm colour film after 74 years of production. By 2005, it became the highest seller of digital cameras in the US, but that
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