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essay #2563

 

Topic:  Business Strategy


 
 
Type of paper: Essay
Subject area: Marketing
Academic level: College
Style: Harvard
Size: 34.0 kB
Word count:
1839 words/7 pages
Mark awarded:  
Author: Mandie Fleming
Date submitted: 2008-11-21 18:34:40
Rating/Votes count:
3.00 / 2
 
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Tags: research, business, question, strategy, operations, digital, kodak, discussion, Eastman Kodak, Canon, Chandler, Polaroid Corporation, Lived Experience, commend
Business strategy
Case study : conventional v digital cameras
Identify and explain how we might we evaluate and select strategies i .e .
substantive growth , limited or retrenchment
Strategy selection and evaluation are parts of a business planning
process . Strategy should be formulated considering the strengths ,
weaknesses , opportunities , and threats relevant for achieving specified
business objectives . The latter are best stated after a review of the
environment in which an enterprise operates . Strategy should leverage
company strengths to exploit identified opportunities . Strategy should
also protect a company from threats that arise either from the market
environment or from internal weaknesses .
Strategy evaluation revolves around sustainable competitive advantage
that a business is able to garner . Successful strategy will enable an
enterprise to achieve its profit , growth , and image objectives .
Declining market share and productivity are signs of strategic errors ,
though they may also arise because appropriate strategy has not been
effectively implemented .
Technological changes and indirect competition from other digital
devices and networks have buffeted the market for cameras . Strategies
for companies such as Canon and Kodak should enable them to retain their
shares in and cash flows from the business of cameras retailed to
consumers (Ohmae , 1991 . Both companies have substantial industrial
applications for their products and technologies , but the drivers of the
medical and other technical markets are so different from consumer
markets , that brand owners should not attempt to club the two sectors
together . One may call for growth , while the other requires
retrenchment . Companies such as Canon and Kodak cannot adopt a uniform
strategy for their entire portfolio of revenue lines . We are concerned
with the high growth potential of digital consumer cameras .
1 .2 Describe the resource issues that canon would need to consider when
implementing new strategies .
Internal Marketing elements of Services Marketing (Payne , 2002 ) will
help Canon transit from a technology led company to the realm of
consumer focus . The company cannot hope to use proprietary manufacturing
expertise of the past for sustained growth and profits in the 21st
century . Digital technologies tend to be egalitarian they will be
quickly copied by international competition . Canon cannot hope to
compete based on tangible product features in the market for cameras
used by amateur photographers . It has to confront the issue of its brand
share in the retail market being less than its position as a hardware
manufacturer . Canon must recruit new people or retrain existing
employees to excel in interactive marketing . It has to pay attention to
the process element of its marketing mix , so that it can remain in touch
with changing consumer needs and respond to new demands and
requirements .
Canon appears to be aware of this need (Web View World , 2005 . It has
made an admirable shift from merely showing its products , to offering a
consumer-friendly website rich with service features . However , Canon
still needs the cross-cultural skills to appeal to a global audience .
Parts of the website seem tuned to a Japanese audience . It would be
useful to provide links to separate pages...

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