Marketing Plan Tamir Filpo Roxanne Suder Tiffany Mehdizadeh

Marketing Plan Tamir Filpo Roxanne Suder Tiffany Mehdizadeh Jeremy Kirchmer

History of Polaroid S Founded in 1937 by Edwin H. Land S Jennifer Land asks her Dad “Why can’t I see them now? ” setting into motion the SX-70 project, which was Land’s original title for research into instant film S In 1986 Polaroid defeated Kodak in patent battle for the instant camera industry S Competition pulled out of instant film market

Polaroid SWOT Analysis Strengths Weaknesses §Intelligent product development § Core beliefs and operations §Diverse revenue streams § Damage brand name § Damage brand image § Technologically behind Opportunities Threats § Create new target markets § Advanced technological facilities § Digital technology § Major competition, extremely competitive market § New modern Trends

Polaroid Strengths S New modern products such as the Polaroid one and the Polaroid Po. Go S Restructuring operations in order to reduce debt and maximize profits S 35% of Polaroid revenue comes from out of the U. S giving room for international growth S Distinctive feel of Polaroid camera, instant accessibility to photos

Polaroid Weaknesses S Damaged brand name due to Polaroid's inability to keep up with trends and technology S Dependency on Wal-Mart S Lacks innovation in the digital camera industry S Hard to find information on company earnings no investment relations

Polaroid's Opportunities S New target market directed toward working use S Marketed as “the worlds fastest way to print digital photos” S Significant growth in the sales of digital technology S Japanese power houses such as Nikon and Canon are moving there production to china due to expense

Threats S Extremely competitive market S Competition ranging all over the world S Current trends against company strategy S Loss market relationship with consumers S No company recognition S Poor job keeping up with technology and trends

Camera Market Trends S Three Market Trends are taking place in the Camera Industry. Each at distant ends of the Market. S High quality cameras are lowering in price. S Less quality cameras are going for incredibly cheap prices. S The rising prevalence and quality of camera phones.

Top of the Market S D-SLR cameras have dropped dramatically in prices, while offering incredible quality and easy to use features. S Consumers who would typically be shopping for enthusiast or super zoom cameras- ranging from $500$800 - are springing for a D-SLR which cost a bit more with the sudden price drop across the board.

Bottom of the Market S The Bottom of the market has been flooded by incredibly cheap cameras going for $150 or less. S Generally don’t offer the very much in quality but online stores and big name manufactures such as Wal-mart, Target and Best Buy have taken on the role specialty camera stores, they are guiding purchases toward quality cameras.

Camera Phones S A rapid growing trend that is stirring up the market is the growth of camera phones. S Most camera phones typically ranging between 4 and 8 megapixels. S Highest Megapixel camera phone is Samsung's M 8910 Pixon 12 S -12 MP, comparable to a $150 camera.

Market Trend Conclusion S These trends are creating a tremendously competitive environment, with no room for mistakes. S With such low prices, profit margins are tight. S For consumers, it’s a great time to look for a camera, especially professional quality such as D-SLR. S Not the best market if you’re a camera manufacturer.

Camera Industry S Although the industry stagnated during the recession, the anticipated economic recovery will give it a boost, as demand for cameras, camera equipment and photography services recover. S Demand will increase from the retail sector as consumers resume their discretionary spending. S Professional photographers will also boost demand, as the market for wedding, school, and family portraits improves.

Key New Factor S New technology with instant uploading to the web S Until recently, the primary purpose of a digital camera was to imitate and emulate the film experience. Their intended use isn't just to produce static hardcopy prints and transparencies, but to be active visual communications devices. S Within minutes of recording a digital image, a photographer can print a picture locally, use it in a presentation, share it on the Web, and transmit it over the telephone.

Social Media Effect S Digital cameras will remain the industry’s main revenue driver, supported by the growing popularity of websites like Facebook that encourage digital uploads and sharing. S 99% of people who have a Facebook uploads photos S Adding up to be 2. 5 Million photos every month.

World Wide Market S Polaroid has manufacturing facilities in China, Mexico, the Netherlands, the United Kingdom, and the United States. S Wal-mart is their biggest distributor accounting for approximately 13% of sales. S 40% sales are generated outside of U. S.

Polaroid Cameras Competition S

Kodak S Polaroid’s biggest competitor is Eastman Kodak. S Polaroid sued Eastman Kodak for patent infringement and it was settled in 1991 with an award of $873 million. Polaroid sued Eastman Kodak because in 1976 Eastman Kodak made an instant camera that competed with Polaroid’s. S A combination of promotion and Kodak’s quality problems allowed Polaroid to maintain its standing in the market.

Nikon S Nikon is a Japanese owned company. S As of March 31 st 2010 Nikons capital is 65, 475 Japanese Yen. S Nikons net sales is 785, 498 million Japanese Yen (for the year ended March 31, 2010) consolidated, and non-Consolidated 572, 972 million Japanese Yen (for the year ended March 31, 2010). S The head office is located in Tokyo.

Nikon S Known for high quality products S Establishes its marketing strategy with Ashton Kutcher as spokesperson S Ashton Kutcher gives Nikon a Company personality, -Young, smooth, and flashy

Canon S Canon is also another Japanese owned company. S As of December 31 st 2009, their common stock is 174, 762 million yen. S Their net sales consolidated is 3, 209, 201 million yen (2009) and non-consolidated is 2, 025, 546 million yen (2009). Their ordinary profit is 142, 684 million yen (2009). S Canons main headquarters is currently located in Tokyo.

Canon S Owns greatest percentage of market share S Great Brand loyalty amongst its consumers S Known for quality

Top digital camera brands market shares. 2007 Shipment s 2007 Share 2008 Shipment s 2008 Share % Change in Shipment s Canon 5, 000 18% 6, 068, 500 20% 21% Sony 4, 780, 000 17% 4, 940, 800 17% 3% Kodak 7, 050, 000 25% 4, 867, 000 16% -31% Nikon 2, 326, 000 8% 3, 045, 700 10% 31%

Indirect Competitors S Apple S General Electric S Xerox

Target Audience S

3, 881, 000 people ages 25 -54 own a Polaroid camera. S According to Simmons Study of Media and Markets, 3, 881, 000 people ages 25 -54 own a Polaroid camera. S This piece of information is helpful in our new marketing campaign because we now know the target age group that uses Polaroid. We will target individuals that range from a young age group to even Baby Boomers. This means we will need a wide range of marketing strategies.

57% of all Polaroid owners are female S According to Simmons Study of Media and Markets, 58% of all Polaroid owners are female. With this information we will focus on certain advertisements that specifically pertain to women. We also know to try and receive coverage at predominately feminine publications.

60% of all Polaroid owners are married S According to the Simmons Study of Media and Markets, 60% of all Polaroid owners are married. With this statistic, we know that a large percentage of our consumers are in committed relationships. We can use this by creating marketing campaigns that shine some light on family time and romance.

71% of Polaroid owners enjoy spending time with their families S According to Simmons Study of Media and Marketing, 71% of Polaroid owners enjoy spending time with their families. This piece of information along with the statistic regarding married Polaroid consumers reinforces that our marketing campaign should focus on traditional family time and maintain a sense of light heartedness.

MRI Results S Fall 2009 Media: Demographics. Households S Females ages 25 -34 S Total number of females surveyed: 116, 722, 000

Cable Networks S 29. 75% of women surveyed watch ABC Channel S ABC Channel would be a great network for Polaroid to advertise through because of their family oriented nature. We would use ABC sitcoms such as Modern Family to promote our products in a fun, catchy way

Publications S Polaroid would use publications that are not only geared towards women, but that also touch on a family lifestyle. S According to MRI the following publications are very popular among women ages 25 -34 S Better Homes and Gardens S Family Circle S Country Living S Bride’s

Polaroid publication demographics for women ages 20 -54 Index Horizontal Better Homes and Gardens 111 3. 98% Bride’s 289 10% Country Living 234 8. 38% Family Circle 136 4. 87%

Sample Customer #1 S Mary Smith S Age 32 S Real estate agent S Enjoys spending time with family S Loves having photos around the house S Busy Soccer mom

Mission to expand customer base S According to our Simmons research there is a very low index for consumers ages 18 -24 who own a polaroid camera. (Index 49) S As marketing researchers we view this demographic as an opportunity to expand our customer base towards the younger generation

Sample Customer #2 S Jonah Swanson S Age 22 S Attends NYU S Photography major S Listens to indie bands S Goes to trendy coffee shops and bars

Publications for age 18 -24 Index Horizontal Cosmopolitan 214 24. 2% GQ 200 22. 7% Maxim 157 17. 8%

MTV S According to MRI 18 -24 year olds have a high index of 174 when it comes to watching MTV S 35. 9% of people who watch MTV fall in the age range of 18 -24

Positioning People perceive Polaroid to be a camera company that was once great but hasn’t kept up with new technologies. When people think of Polaroid they think of the trademark print which is a square photo with a white boarder.

Survey Says… Would you enjoy having your photos instantly printed for immediate viewing? The majority want to have instant photos which is only provided by Polaroid. No 20% Yes 80%

Do you print your own photos at home? The majority do not print their photos at home due to the hassle. Although in the previous chart 80% of people want instant Yes 15% No 85%

Transformation New Polaroid Vs. Old Modern and Sleek Classic Polaroid

Polaroid Pogo S The Polaroid Po. Go™ Instant Digital Camera is the first digital camera and printer combination that is small enough to take on-the-go. S The digital version of the Polaroid iconic instant camera, the Polaroid Po. Go™ Instant Digital Camera is a fullfeature digital camera with an integrated printer.

How we will deal with Competition We will re-establish our own identity. We are Polaroid and instant photos is what we do. All other camera companies are similar but there is no one else in the instant photo market. We plan to keep up with technology in our own way by constantly surveying and integrating up to date research with Polaroid’s unique style.

The 4 C’s Consumer: Cost: The consumer wants to have the accessibility of printing their photos as they happen or whenever they want with the touch of a button Relatively inexpensive and comes with all accessories needed for camera use. Convenience: Communication: The product can be bought at any local electronics store with the added convenience that you don’t need to go out of the way to develop photos. Indulge in target market relatable commercials, TV shows, artist signings, and billboard in Times Square.

Media Plan

The New Polaroid

Slogan S Creating memories as they happen. - This slogan is aimed to target our older family oriented target audience S “Pho-Instants” - This slogan is aimed to our younger hip and trendy target audience.

Magazines Target Audience #1 Better Homes and Gardens Family Circle Country Living Bride’s We chose these magazines to target the more family oriented market. The following are some ads for these magazines

If You Framed Your Memories, What Would We See? Fill in the Blank.

Creating memories as they happen…

Magazines Target Audience #2 S Cosmopolitan S GQ S Maxim S We choose these magazines to target the 18 -24 year olds S The following are some ads we will publish for these magazines

“Pho- Instants” the photo your boss can’t see. You decide who the Real social network is with

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Relive the glory days with

Polaroid Owners marketing preference S Polaroid owners who find TV advertising interesting have a high index of 187 S Polaroid owners who often notice ads on billboards have a high index of 150 S We plan to use these to means of advertising for our marketing plan

TV advertisement S We plan on showing our advertisements for “creating memories as they happen” on ABC during Modern Family S For our “pho-instants” slogan we plan on showing commercials during shows on MTV primetime.

“Creating memories as they happen” concept commercial S Begins with women in her late 20’s takes a photo with her Polaroid Pogo. She instantly prints the photo and throws it in the air S The scene then jumps into that picture. S The scene happens multiple times in different places S At the end the slogan would appear

“Pho-Instance” Concept Commercial S Commercial starts with funny voice saying “Pho-Instants” S At same time camera moves to college party scene S Voice over says “Pho-Instants, show your friend what beer goggles and confidence could do”

Artist Fair S We plan to have an artist fair sponsored by Polaroid. S Opportunity to take a picture with the artist using the Polaroid Pogo. S All Proceeds will benefit an inner city school of arts program.

Our Spokesperson Lady Ga. Ga, being the head designer of Polaroid, as well as being known for her style and trendy impact, will appeal to our younger hip demographic.

Times Square Billboard S Create a billboard resembling the old fashioned Polaroid photo with camera installed. S As people pass by they can see themselves on the billboard with a camera on street level. S It will create a memory base for tourists and New Yorkers alike. S Following is a concept of what it would look like.

Works Cited S http: //jonathankadis. com/index_files/SWOT%20 Analysis%20 for%20 Polaro id%20 Incorporated. pdf S http: //web. ebscohost. com. rlib. pace. edu/bsi/pdf? vid=12&hid=12&sid=3 f 646 119 -1 d 80 -432 f-ad 04 -0 a 969 ffb 19 d 2%40 sessionmgr 13 S http: //www. scribd. com/doc/2370873/Digital-camera-industry-analysis S http: //blog. facebook. com/blog. php? topic_id=185341929641 S http: //freshcrop. com/blog/industry-news/us-digital-camera-sales-andmarket-share-for-2006/