Marketing Kodak Blue FZ51, Essay Example

Marketing Environment Factor Analysis

With the rise of the availability of built-in cameras in smartphones today, it could be realized how the drop of sales in digital cameras has also become a trend of failure for businesses producing such items made available in the market.

Demographic: The age bracket that is to be targeted by the product could be adjusted to 50 years old onwards. These individuals are most likely the ones to want to use less-complicated gadgets like the Kodak Blue FZ51. They are also the most memory-dependent individuals who give high value to the worth of photographs that they are able to capture in their small cameras. In this case, this particular factor entails to create a definite distinction on how both the demographic and psychographic elements of marketing could actually be put together as a strategic condition of considering modern marketing options available for the company to fully embrace.

Culture: With regards the function of the product, the current marketing environment it has to give attention to is directed towards feeding the desires of at least 65% of major users of cameras to make their photographs available in social media networks as immediate as possible. This means that the competition lays strong on how particular gadgets [of different forms] boast a great indication of features relatively assumed to have an impact on internet connectivity. Since Kodak Blue FZ51 does not fit this description, the company ought to focus more on the features it does offer [especially the ones that cannot be fully provided by other products].

Economic: This issue raises the possibilities and opportunities opened for the business to embrace especially for the sake of representing the product at a much more interesting manner that could get the attention of the buyers in the market being targeted by the business as it offers the item in a relatively manageable and reasonable pricing. Through studying the current environment that products [categorized under the same pattern of function] follow especially in marketing to the new and modern users, Kodak Blue FZ51 could take on a new sense of distinction on how marketing the product could take on a better sense of control on the target market and how their attention could be directed towards making successful purchases of the product.

Natural: it is the dedicated function of these items that make them rather more practical for some who are enthusiasts of creating photographs that can be easily edited and/or fashioned to the liking of the users. Hence, in relation to this situation, it is obvious how the marketing of Kodak Blue FZ51 ought to be faced by distributors in the current market of target buyers. The marketing strategy ought not to involve only that of the attention towards direct competitors; the fact is the larger scope of marketing focus ought to be directed to facing the challenge of marketing against the presentations of the smartphones as they highlight their camera-features.

Political: Competition is a distinct element of directive to the overall function of the industry of digital cameras thus creating a mark on how the products are to make a relatively strong mark on the thinking and the reactions of the targeted market sector to be served by the established product[s].

Technological: Among the best features of the product include its featured photograph management applications all included within a small package that fits the pocket of any particular photo-enthusiast. Basic as the functions are, reviews about this product reveal that Kodak has provided its consumers with a lasting impression on creating high quality photographs right at the fingertips of the users [working on such memories like a pro] without necessarily being burdened to carry n heavy cameras (such as DLSRs). Not to mention, the product’s dedicated function makes it easier to handle compared to dealing with high-end smartphones that might have limited camera-features due to the multi-dedication of memory and RAM that the gadget uses.

Analysis of Measure of Prevalence

The current trend of product usage in the market [considering the function of cameras] creates a more definite insistence on how he said gadgets follow the identity and categorization of being pocket-friendly. People on the go would of course choose to get gadgets that are easy to carry and are functional enough to provide what they expect to get from the said items as promised by the creators.

Product Function is one aspect of concentration that Kodak Blue FZ51 ought to be given attention to. Basing from the point of awareness, interest, trial and action; it is seen how the current marketing approach of the item ought to be handled [especially for the sake of creating a feature on how these functions are actually able to set the product in par with other items it is in competition with]. Getting the interest of the target market could be established accordingly through making it easier for them to understand the real value of the product [especially for those having problems with regards using a smartphone or other modern gadgets that they may not be fully familiar with].  From this point of development, it could be noted how the marketing approaches are able to make a definite form of action that basically gives them a better understanding on how they are to engage in transaction especially towards purchasing the item itself (Abela, 2007).

In this case, it could be realized how important it is to take note of the change in the characterization of the target market that the business hopes to serve. While a large number of individuals in the market would surely go for smartphones [and other digital gadgets], there are still others who would opt for the basics of camera function [especially for those who have a hard time engaging in the use of modern applications installed within such specialized gadgets]. These individuals take the option of making use of the basics that gives them the best chance to y the actual function they want to engage in which is simply taking good photographs and keeping these memories for themselves and others to simply enjoy.

Target Market Segment

The behavioral aspects of marketing would actually make a definite impact on how the primary targeted market sector in the public are able to recognize the real value of the gadget and how they are to make the best use of the item especially in taking good memories whenever they want without having the need to deal with complicated instructions and procedures dedicated to making the whole system work.

Positioning Statement for Kodak

The market positioning of the product should be further established to have an impacting effect on how the targeted individuals are able to mandate a better form of understanding on how beneficial the product ought to be for their needs and their expectations [especially in consideration to the function that the camera is expected to follow through] (Rust, 2009). Measuring the behavior and psychographic elements of defining the market could actually mandate a better sense of how Kodak Blue FZ51 could create an interesting picture for the targeted demographics of the market sector being hoped to be served.

Marketing Mix- 4 Ps

Product: The product itself is simple, basic and functional. The consideration over how the market would react to it is expected to be based on the element of functionality and simplicity all at the same time. This means that the point of functionality is given high value while the measure of the item’s practicality is also given high regard.

Price: Since it is very basic, Kodak Blue FZ51 is expected to be presented at a much reasonable pricing option. Relatively, for those who are photograph enthusiasts, but are less able to make use of complicated applications, the Kodak Blue features and price would actually fit the picture and expectations perfectly.

Place: The internet is one primary location wherein the marketing of the product is to be handled accordingly. The creation of connection in social network sites is also expected to improve public familiarity over the said product as it makes it to the distribution areas in the physical stores around the market.

Promotion: Promotion of the product shall be handled accordingly through putting in freebies to the packages released for the distribution in physical stores and in the internet all at the same time.

Conclusion

The marketing approach towards the release of Kodak Blue FZ51 creates a more definite insistence on how the features of the camera itself are given higher concern and attention. The changing and adjustment of the targeted demographics in the market creates a more definite path for the marketing approach to be handled by the company. Basing from these particular factors of concentration, the capacity of the company to offer the product at the most comprehensive approach that would be highly appreciated by the market [thus mandating a better course of sales-advancement for the product itself] could be measured accordingly and be realized to have a great impact on the organization’s growth for further reference (Goi, 2009).

References

Abela, A. (2007). Marketing with integrity: ethics and the service-dominant logic for marketing. Journal of Academic Marketing. http://www.ethicsbasedmarketing.net/articles/artices19_8_2008/marketing%20with%20integrity.pdf. (Retrieved on October 3, 2015

Goi, C.L. A (2009). Review of Marketing Mix: 4Ps or More? International Journal of Marketing Studies. http://www.ccsenet.org/journal/index.php/ijms/article/viewFile/97/1552%3Forigin%3Dpublication_detail. (Retrieved on October 3, 2015).

Rust, R.T. (2009). Rethinking Marketing. Harvard Business Review. https://faculty.fuqua.duke.edu/~moorman/Publications/Rethinking%20Marketing.pdf. .(Retrieved on October 3, 2015).