The paper "Digital Marketing Plan of Polaroid Corporation" is a good example of a marketing case study. Due to the launch of new technologically-advanced digital camera products such as the social magic and Polaroid cube cameras by Polaroid Corporation, the paper presents a digital marketing strategy for the company for a period of 9 months following a contextual analysis of the company’ s financial background, current marketing strategy and consumer behavior. As such it details the company’ s digital strategy (market segmentation, targeting and positioning), marketing mix strategies, and implementation plan. It finalizes with appropriate control measures to determine the productivity of the plan. Digital Marketing Plan of Polaroid Corporation Introduction Polaroid Corporation is an American-based company specialized in the production of globally consumable eyewear and electronic devices.
Edwin H. Land founded the company on its flagship product of instant film cameras in 1937 (Fearis 1995, p. 4). The company strategically marketed instant film cameras until 2008 when it switched to the production of digital cameras. Although in 2009 the company ventured back into the production of instant cameras at a low scale, up to date the company’ s increasing camera market leadership and world recognition come from the intensive investment in digital electronic products such as smartwatches.
As such, to attract new customers, the company in 2014 launched technologically advanced cameras such as the socialmatic camera (an android-powered smart camera which prints photographs instantly) and the Polaroid cube (tiniest digital camera). However, the current camera market is characterized by stiff competition and with constant advances in technology; Polaroid requires a new digital marketing strategy. Purpose This paper seeks to present a digital marketing plan for Polaroid Corporation in the next 12 months.
In this regard, the company needs to use the plan to market the socialmatic camera and the Polaroid cube, among other advanced items to retain the existing customers and attract new customers in the United Kingdom (UK) market. Context analysis PESTEL analysis Polaroid is one of the major leading companies in the marketing of camera products. However, it is important to assess the surrounding factors that influence the growth of the company in the UK (Morgan, Pritchard & Pride 2011, p. 41). In the political context, UK is characterized with a strong democratic framework and a stable government; the country thrives on effectively formulated microeconomic policies; it shares good economic relationships with European and commonwealth countries; the government charges a low rate of VAT on-camera products and finally, the country is vulnerable to terrorist threats and attacks.
Economically, the UK takes the second-largest market in European Union (EU); the UK takes the fourth spot as the country with the largest economy in the world; its market merges with other European markets to form a free market trade region; the country thrives on strong channels of product distribution (Shankar et al.
2012, p. 303). However, the country struggles from currency depreciation and impacts of budget deficits. Socio-Economically, the UK is characterized by high standards of living, a high percentage of aging population, high rate of overseas immigration, and high rate of spending by youths. Technologically, the country takes interest in new technological products; it welcomes new innovative products that promote the sustainability of the environment; the UK consumers buy products that save energy; its government relies on the Waste Electrical and Electronic Equipment Directive Commission (WEEED) to safeguard the public from using hazardous technological products, and finally, the UK government commissioned the Restriction of Hazardous Substances (RoHS) and Packaging Waste commissions to determine the negative effects of using technologically-advanced devices.
Finally, in the legal context, the UK government protects the consumers from exploitation by the producers via the UK and EU regulations. Such regulations include the employment law, competition law and the data protection law (Shankar et al. 2012, p. 303).
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