Polaroid Strategy

For quite some time, Polaroids telephoner decoct was bit cameras. They were a hit, as many could see their pictures immediately. Further, the catchy song lyrics Shake it like a Polaroid Picture helped spread the brand name to multiple populations. As digital cameras became popular over time, Polaroid confounded concentration on their main selling point instant photography. However, Polaroid believes that this wise decade is the time to bet their instant cameras with a revised mission and fresh set of values and visions.Current Mission To come in the latest cutting edge technology in the peoples hands and give them the king to use it comfortably, affordablyand in an instant. Polaroids mission has always revolved slightly node convenience and peacefulness of technology. Their forte, instant film, remains a legacy in the company. By associating their products with reasonable prices, comfort, and mainly dynamically uninterrupted innovations, Polaroid has been ingrained as a top brand in the eyes of their customers, especially amateurs.However, in lieu of current market trends, it is now time for Polaroid to revise this mission to include the following aspects and values * see to it More than just a product, the new Polaroid cameras allow for serve as an experience to its customers. Through instant gratification and social networking movements, the company opens up to allow the redefined PIC-1000 model to include multiple features. * Compatibility Polaroids new plan emphasizes consistency with their old models. The new PIC-1000 will be compatible with traditional film.Retro-Futurism The company attempts to abuse back in time and bring back an old, vintage styled camera with a modern twist. * Enthusiasts Polaroid is expanding their steer market to more than just the amateur. They plan to spice things up with Creative Director, Lady Gaga, and attract to the passion-driven enthusiasts in the art and fashion communities who unequivocally want the Polar oid experience back. Vision Polaroids vision serves as the model for their marketing plan and guides every aspect of their business by describing what they need to accomplish in hallow to achieve sustainable, quality growth.This includes focusing on the needs of their customers, consumers, and partners. In addition, this improved vision pinpoints the following company values leadership, diversity, quality, passion, accountability, integrity, and collaboration. Goals An overall goal includes expanding Polaroids market to younger photographers, while also appealing to honest-to-god generations with more familiarity with the companys cameras.The following are specific short and long-term goals Short-term go far new markets, specifically the art and fashion communities * Reduce postage costs with more distribution centers around the world * Present the new technology at consumer electronic shows * Publicize innovative products in discordant advertising media, for example Engadget a nd Popular Science magazines * Widely distribute products in many retail stores for lenient access to customers* Regain participation in community promotions, such as in the corporate sponsorship of motorsports long-run Gain a large percentage of the niche photography market * Re-establish their iconic instant imagination * Create a legacy * Form licensing deals to extend the brand into new market segments * Provide customer satisfaction and fulfillment * Be a top-ranked player in the photography industry * Maximize put on and return to shareowners while being aware of responsibilities * Offer a social networking Movement for consumers to share and honor Core Competencies and Competitive AdvantageAs a pioneer of instant photography, Polaroid has a leg up on other competitors. They have a patent that allows for product protection and brand equity. Through oftentimes research, development, and devotion, these so-called purists have created a unique image and legacy that has stoo d the test of time. Some points of differentiation to split up Polaroids products from the masses are its vintage quality, ease of use, instant gratification, and retro niche appeal.The companys competitive advantage in instant imaging is made possible through its partners and supporting industries, the handiness of skilled researchers, and the current demand for artistic products in the marketplace. Polaroid will work to form strong bonds and relationships with distributors and suppliers, which will in turn satisfy their customers needs most fully.