I may be dating myself, but I can remember Kodak well. It was a behemoth of industry, and everyone…every
audience looked at Kodak as not just but an important brand, but one that affected
peoples’ lives. Kodak was not just a
product, but it was an integral part of our lives. After all it cataloged out lives. And, that was huge. Kodak was almost like a
family member. Then here comes to tech
boom.
As high as Kodak rose, it failed with even a harder
bump. How could such a phenomenon such
as Kodak be reduced to basically a relic with little importance to the daily
lives of consumers today? Simple…they
did not navigate through the treacherous waters of the digital age. Even though they brought the world the first
digital camera, they still were swept up in the tech boom under current.
Much smaller business can find themselves falling down the
slippery slope just as Kodak.. They consistently produce a product or offer a
service, but fail to understand the growing and ever-changing values of their
audience. Many small businesses, like Kodak, fail understand their consumers’
needs in this ever changing world. Millions of businesses fail because they do
not strategically market to targets that will help them grow and succeed. Like Kodak, small business will try to rely
on their name and their current customer-base until those same consumers realize
your marketing shelf life has expired and eventually make your business a thing of
the past.
You do not have to look far to see examples of businesses
that listen to customers, respond to their needs, and employee the marketing
tactics to keep, capture and engage their audiences. Does Google ring a bell?
You may never be as big as Google, but your
strategic marketing can incorporate the principles of success employed by
Google, and avoid the pitfalls of companies like Kodak.
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