{"id":117482,"date":"2012-01-20T09:04:00","date_gmt":"2012-01-20T14:04:00","guid":{"rendered":"https:\/\/www.dacgroup.com\/what-kodaks-demise-can-teach-us-about-advertising\/"},"modified":"2024-12-21T05:51:39","modified_gmt":"2024-12-21T10:51:39","slug":"what-kodaks-demise-can-teach-us-about-advertising","status":"publish","type":"post","link":"https:\/\/www.dacgroup.com\/en-ca\/insights\/blog\/strategy\/what-kodaks-demise-can-teach-us-about-advertising\/","title":{"rendered":"What Kodak\u2019s Demise Can Teach Us About Advertising"},"content":{"rendered":"<p>Kodak&#8217;s long, slow demise reached its logical conclusion today. Scratch the surface and there is a critical lesson. Kodak did not end up filing for bankruptcy protection because it was not an innovator. After all, Kodak created one of the first digital cameras back in 1975. Was today&#8217;s endgame inevitable from that point on?<\/p>\n<p>Not at all. As Kodak has declined, it&#8217;s traditional rival Fujifilm has thrived in the digital environment. <a href=\"http:\/\/www.economist.com\/node\/21542796\" target=\"_blank\" rel=\"noopener\">The Economist<\/a> analyzes this reversal of fortune as a result of the fact that &#8220;Kodak acted like a stereotypical change-resistant Japanese firm, while Fujifilm acted like a flexible American one&#8221;.<\/p>\n<p>The article goes on to explain that the culture within Kodak did not help. &#8220;Despite its strengths\u2014hefty investment in research, a rigorous approach to manufacturing and good relations with its local community\u2014Kodak had become a complacent monopolist&#8230;.Another reason why Kodak was slow to change was that its executives \u201csuffered from a mentality of perfect products, rather than the high-tech mindset of make it, launch it, fix it,\u201d says Rosabeth Moss Kanter of Harvard Business School, who has advised the firm.<\/p>\n<p>The combination of a sense of complacency and resistance to change in the face of new technology and shifting consumer tastes <em>in spite of being a leading edge innovator<\/em> doomed Kodak.<\/p>\n<section data-role=\"forward-email-subscription-container\" class=\"full-width w-100 d-flex justify-content-center align-items-center bg-c7f2b3\">\n    \n    <div class=\"max-w-1400 w-100 form\">\n        <div class=\"text-content-container\">\n            <h2>\n                Stay Forward            <\/h2>\n            <p class=\"subtitle\">\n                Get exclusive insights into digital <br class=\"d-none d-lg-block\">media's top-trending topics delivered<br class=\"d-none d-lg-block\"> directly to your inbox.            <\/p>\n        <\/div>\n\n        <div data-role=\"form-group\">\n            <div class=\"d-flex flex-column w-100\">\n                <form data-forward-email-form class='custom-hubspot-form' id='hubspot_form_69fd252e242e2'>\n    <div class='d-flex input'>\n        <input type='email' class='form-control me-2 input' placeholder='Email address' aria-label='Email' name='email' required>\n        <button type='submit' class='btn_primary-filled_white'>Submit\n<\/button>\n    <\/div>\n    <p class='hubspot-status'><\/p>\n<\/form>\n<script>\njQuery(document).ready(function($) {\n    var form = $('#hubspot_form_69fd252e242e2');\n    form.on('submit', function(event) {\n        event.preventDefault();\n\n        \/\/ Get email input value\n        var emailInput = form.find('input[name=\"email\"]');\n        var email = emailInput.val().trim();\n\n        \/\/ Required HubSpot fields\n        var portalId = '5408011';\n        var formId = '0c9a9cec-eb1c-44ac-920f-687ce0230830';\n\n        \/\/ Prepare the data payload\n        var data = {\n            fields: [\n                {\n                    name: 'email',\n                    value: email\n                }\n            ],\n            context: {\n                pageUri: window.location.href,\n                pageName: document.title\n            },\n            submittedAt: new Date().getTime()\n        };\n\n        \/\/ Get the status element for this form\n        var statusElement = form.siblings('.forward-email-status-container');\n\n        \/\/ Send the data to HubSpot\n        fetch('https:\/\/api.hsforms.com\/submissions\/v3\/integration\/submit\/5408011\/0c9a9cec-eb1c-44ac-920f-687ce0230830', {\n            method: 'POST',\n            headers: {\n                'Content-Type': 'application\/json'\n            },\n            body: JSON.stringify(data)\n        })\n        .then(response => {\n            if (response.ok) {\n                if(statusElement) {\n                    statusElement.text('Thanks for Subscribing!');\n                    statusElement.css('color', 'green');\n                }\n\n                var userInfo = JSON.parse(localStorage.getItem('userInfo'));\n                if (userInfo) {\n                    userInfo.event = 'Form_submit';\n                    userInfo.email = email;\n                    userInfo.form_name = 'Newsletter';\n                    window.dataLayer = window.dataLayer || [];\n                    window.dataLayer.push(userInfo);\n                }\n\n                emailInput.val(''); 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We see this every day within the advertising industry. Traditional media publishers and agencies, built in a monopolistic environment have grown slow and resistant to change in spite of having no shortage of exceptional ideas and innovations. These ideas are either buried deep within their organizations or are brought to market too slowly to capitalize on the opportunity at hand. Fear of the shifting environment leads these entities either to try to buy in talent through acquisitions, often to the detriment of the acquired new kid (AOL, MySpace, etc..) or to raise the barricades (that <u style=\"text-decoration: none; color: #337ab7;\">SOPA<\/u> thing sure worked out well, didn&#8217;t it?). These approaches do not work.<\/p>\n<p>The traditional powerhouses in this industry can win in the digital environment, but this requires real change &#8211; cultural change. That means understanding that it is not business as usual, that the old rules no longer apply. We operate in an environment where the consumer is in the driving seat, not the advertiser. This is an environment where sometimes you don&#8217;t have to be the smartest, you just have to be the most willing to change. The breakneck development of technology and the fragmentation of the industry requires a flexibility and embrace of change that most traditional media companies simply aren&#8217;t equipped to deal with. Unless that changes, like Kodak, they too will be gone in a flash.<\/p>\n<p><a href=\"\/get-in-touch\/\">Contact us today<\/a> to find out more on the importance of flexibility in the <a href=\"\/services\/digital-media\/\">digital media<\/a> industry!<\/p>\n<p>Nasser Sahlool, VP Client Strategy<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kodak&#8217;s long, slow demise reached its logical conclusion today. Scratch the surface and there is a critical lesson. Kodak did not end up filing for bankruptcy protection because it was not an innovator. After all, Kodak created one of the first digital cameras back in 1975. Was today&#8217;s endgame inevitable from that point on? Not [&hellip;]<\/p>\n","protected":false},"author":33,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","reading_level":"Strategic","reading_level_confidence":0.72,"reading_level_needs_review":"0","footnotes":""},"categories":[2903],"tags":[],"class_list":["post-117482","post","type-post","status-publish","format-standard","hentry","category-strategy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What Kodak&#039;s Demise Can Teach Us About Advertising | DAC<\/title>\n<meta name=\"description\" content=\"Once a pioneer in the photography space, Kodak is proof that when big brands refuse to adapt to new technologies, they will go the way of the dinosaurs...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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