Strategic management: External Analysis

Introduction

George Eastman made and sold the first ever camera for consumers to use during the twilight of the 1800 's . His slogan : You press the button we do the rest ' pertains to its commitment to its clients who find film processing very complicated , which he turned into an opportunity by taking the film processing to new heights , and making it accessible as well as affordable for consumers . Undoubtedly , Kodak is considered the Coke of the photography industry . It spearheaded the emergence of new innovative photography products . Each innovation they come up

with made photography seem easy and useful for both ordinary consumers and photography connoisseurs alike . Kodak has transcended the conventional trends of the photography industry they provide technical aids for fields like : entertainment , medical , business , and scientific applications . The company has augmented such fields with their innovations in the field of photography . Innovations like infoimaging ' have surfaced in to enhance movies and the like It combines images and information , which generates the notion of bridging people 's differences through better communication . It changed how businesses and consumers respond to each other . Kodak itself is an icon , which touched almost everyone 's lives with memories displayed in pictures . George Eastman always strives to make photography innovation His empire continues to thrive to this date , when digital photography has emerged , and has a massive following . Kodak had foreseen this trend and is always ready to ride the waves of change in the photography industry (Kodak , 2008 . Since the early '90 's , Kodak has foreseen that the photography industry will be augmented as technology progresses . In 1990 , Kodak launched its first photo CD system . The photo CD system allows users to play images on TV screens , and proposed a worldwide standard for augmenting color definition in the digital world of computers

Porter 's Five Forces Model Analysis

Buyer Power

The buyer power is very strong in the photography industry . Their buyer power is crucial , and has a deliberate impact on the industry itself Kodak and its consumers have a discreet mutual arrangement regarding the aspect of buyer power . The company itself empowers its consumers to augment their buyer power due to the fact that Kodak makes its products aptly priced and affordable for all classes of people . The photography industry has a market condition , in which the buyer has a say on the price . This relative as well for a company like Kodak , which also opines for the price of raw materials it acquires from its suppliers . However there a handful of discrepancies , which contribute to the asymmetry between the buyer and the manufacturing industry . This is evident from the notion that buyers are concentrated , yet producers hinder forward integration (Kodak , 2008

Supplier Power

The photography industry is considered a technology industry . With this in mind , Kodak is required to have suppliers , which will make raw materials available in to produce and develop their products Supplier power is one aspect , which is a requisite in shaping a manufacturing company...