Edwin Land and George Wheelwright III founded Polaroid Corporation in 1936. The interlocking rings of Polaroid filters have been the emblems of the Polaroid Corporation for over sixty years. Edwin H. Land first demonstrated one-step photography at a meeting of the Optical Society of America on February 21, 1947. Following that, the first one-step camera with color film was invented in 1963. Since then, the company has come a long way. In 1998, the Polaroid Corporation expanded distribution to over 150 countries worldwide. They are currently manufacturing in China, India, Mexico, Netherlands, and Scotland.
Today, Polaroid has thirty-five marketing and manufacturing subsidiaries all over the world. Polaroid offers a variety of audio and visual products. Some of these products include digital cameras, projectors, film, digital photo printers, scanners and software. But, the product that made Polaroid into the worldwide corporation it is today is the handheld instant camera. The Business Edition was Polaroid’s strategy for product development. First introduced in the seventies, the Business Edition model was a new product in an existing market.
Accepted immediately into the homes of thousands of Americans, this product dominated the camera industry for almost a decade. The hand held instant camera is the all-time best selling product for Polaroid. The appeal of the product was both the convenience and the simplicity of its use. Then, inexplicably the instant camera disappeared in the 1990’s. The Business Edition 600 is the workhorse for the Polaroid line of cameras. The camera’s faster shutter speed as well as its built-in close-up lens and built-in strobe, made it the most appealing of the line of instant cameras.
In addition, Polaroid offers more high-end advanced instant cameras such as the Spectra, SpectraPro, and the Polaroid 680. However, these models are more expensive and do not necessarily offer the simplicity of use that the Business Edition and Polaroid One-Step Express posses. The Polaroid One-Step Express is basically the Business Edition of the ninety’s. This camera offers all of the same features except in an updated new style. The product to be remarketed is the Polaroid OneStep Express. As a little known commodity in the Polaroid line of cameras, the OneStep Express is an easy to use, point and shoot instant camera.
Also, it offers a fixed-focus lens with a 2 to 4 feet close up adapter. Presently, the camera’s appearance is green with yellow accents and is bundled in a tote bag for travel. In addition to a new contemporary design with adjustable handstrap, it also has other cosmetic and ergonomic updates. Its new appearance and design makes it more appealing than the 600 model of old. The new target for the OneStep Express would be teenagers and older children. Presently, the current target is undifferentiated by Polaroid. Originally, Polaroid marketed the OneStep to photographers in general.
The main disadvantage to this approach is that the competitors of Polaroid may identify and target segments of the market that may be more profitable. Currently, Polaroid is saving money in production and marketing costs by not targeting the OneStep to a specific market. However, the product is also not earning market share and dollars to its potential. This target is chosen over adults and senior citizens because they have already experienced hand held instant cameras and are familiar with the pros and cons of them. This product will be totally new to many teenagers and almost unheard of by children.
The change to target a specific segment would be an excellent marketing strategy for Polaroid because teenagers and children have not experienced the pleasure and lucidity of instant handheld photography offered by the OneStep. Teenagers especially would take more photographs if they could experience the results immediately. Most teenagers would rather spend a few extra dollars for film for instant pictures rather than go through the hassle of dropping off used film at the film developer’s and the inconvenience of returning a few days later to pick it up.
Teenagers are in a constant hurry to have results right now. For example, it us a perfect solution for persons age 7 – 15 years of age because they are unable to drive a car to the film developer. Therefore, the OneStep is perfect for the life style that teenagers live. The OneStep will be marketed to children as a toy. There are all kinds of possibilities for the OneStep as a toy. The camera is extremely durable and is remarkably simple to use. For a middle class child it is a perfect toy. Therefore, the OneStep Express is ideal for the lifestyle of the teenager and older child market.
The major environmental force behind the remarketing of the OneStep is lifestyle. Teenagers live a different life style now than that of the teenagers when the camera was first introduced. Two decades ago, there was one camera per household. Moreover, this camera was to be only used by adults. Teens would rarely be allowed to take the camera to a high school dance, a gathering, or athletic event because the camera was too valuable. Also, there were restrictions on its usage. In the ninety’s, everybody has a camera and people of all ages use photography.
Teenagers would love to have a picture instantly with the touch of a button. The cost of the camera is extremely affordable. Instant handheld camera’s, when first introduced, were priced like a lot of the new technology of the time such as VCR’s. They were expensive when the product was first introduced and then prices eventually fell. Today, the price is affordable to relatively everyone. The benefits of the OneStep Express are both tangible and intangible. The tangible benefit would be a high quality photograph instantly with a push of a button.
The primary intangible benefit would be psychological, the pleasure of viewing the photograph almost instantly. A secondary intangible benefit would be the fact that a person knows how the picture turns out before experiencing the possible disappointment of a bad picture. Also, if doubles or even triples of an image are desired, it can be made available right there on the spot. Often times a person wants doubles of just one or two pictures out of a role of twenty-five pictures. With the OneStep a consumer does not have to pay for a whole new set of extra pictures that will go to waste.
The cost of buying double photographs would be eliminated. The product to be remarketed is the Polaroid OneStep. This product offers benefits both tangible and intangible benefits. Also, this is an old product in an old market that is going to appeal to a different segment of the market. The place for the product would be found in retail stores and on the Internet. For instance, the product will be on the shelves of mass merchandise retailers such as Wal-Mart and K-mart along with department stores such as Ames. In addition, catalog showroom stores like Service Merchandise will carry the product.
The channel of distribution in the case would start at the manufacturer, to the wholesaler next and then to the retailers. Currently, the OneStep is not offered in all these retailers. A grand majority of consumers will first look to these locations when first purchasing a camera. Finally, the place that will make the difference in hitting the target market will be in toy stores and departments. This will be effective in selling the OneStep to children because they will see it sitting next to all of their favorite toys.
Stores such as Toys R’ Us will carry the children’s version of the OneStep. First, the hot pink Polaroid Barbie Camera will be offered to girls. Most Barbie products are very attractive to this age group. Also, the camera version for young boys would be offered with a popular Professional Wresting logo or term on. This would definitely be successful with the current explosion in that form of entertainment. Obviously, selling the product in retail toy stores would definitely increase sales. In addition, the Internet is a growing and powerful for tool for purchasing by the consumer.
Polaroid through the Internet could offer the camera. Following that, a consumer could customize the product with the available options. For example, they could buy an OneStep with Hulk Hogan logo, “Hollywood”, with New World Order carrying case. In conclusion, the mass merchandising, catalog showroom, and specialty stores along with toy stores and the Internet would make the Polaroid OneStep extremely visible to any customer who is looking for a camera. The price of the product, $39. 99 for the Polaroid OneStep, would remain the same in retail stores.
This is extremely affordable to everybody in the market that is looking to purchase a camera of any kind. The price of the film is $8. 99 for ten exposures and $17. 99 for twenty exposures. This is remarkably competitive with the cost of buying a disposable camera, which are currently very popular. A disposable Kodak camera costs about $14. The cost of developing standard 4 by 6 prints is $7. Another reason why the OneStep is better than disposable are the intangible benefits, such as the satisfaction of knowing whether the picture turned out. The one time fee of $39. 9 for push button quality photographs is a steal. When comparing the cost of a disposable camera, which millions of people worldwide use every year, to the cost of the OneStep’s film and battery, the OneStep is the obvious choice for consumers. The cost of a camera over the Internet would be cheaper because both the wholesaler and retailer are eliminated. Buying directly from the manufacturer would allow the consumer more buy more accessories with the camera because of the savings. For example, they could order two sets of twenty exposures for half the price because they would have more money to spend.
Buying the OneStep direct would pass the savings on to the customer and would be appealing to the potential buyer. The promotion of the product is the most important ingredient of the marketing mix. Polaroid should implement a pull strategy. The ability to communicate with the consumers and potential buyers will determine the success of remarketing the Polaroid OneStep. Providing the information about the handiness and simplicity of the OneStep Express would be the central theme in promotion. Ultimately, television would be the most effective in delivering this theme to the consumer.
For example, in order to market the camera to children, the advertisements should be aired Saturday mornings and in the afternoon after school. Channels that would provide this would be Fox, USA, and Nickelodeon. A commercial that would be aired on these television networks during the time period starting at 2:30 P. M. and ending at 5:30 P. M. , would be highly visible to children. A more fitting time for young adults would be during prime time in the week. A possible network for targeting young adults would be the Warner Brothers Network. The WB Network almost exclusively targets teenagers with their television programming.
Magazines would be another great means of reaching out to the target. Popular magazines for teenagers and older children such as Teen, Seventeen, and Sports Illustrated for Kids would be effective in hitting the market segment. Specific promotional advertisements would be used in generating sales for the OneStep. Commercials during Professional Wrestling could show popular Wrestlers using the OneStep to promote the product. The wrestlers could be taking pictures of the high flying moves they are doing to one and other and enjoying them seconds later.
Polaroid could use popular hip-hop artist such as Big Dog Punisher and modify one of his songs for the theme, “I ain’t a photographer I just push a lot. ” In other words, “the push”, is the push of a button for an instant picture. In addition, Polaroid could also offer a mail in rebate of five to ten dollars with purchase of the OneStep. Obviously, the main promotional goal is to get the consumer to purchase the camera. Once this is taken care of, the price of film and accessories will generate a large portion of the OneStep’s profits. The Polaroid OneStep could be a potential gold mine for Polaroid Corporation.
The Business Edition model introduced in the 1970’s is proof of that. Targeting teenagers and children would be a strategic marketing idea. The idea of instant results with this camera along with the ease of its usage would be very tempting for their lifestyle. Also, the price as well as packaging of the camera is attractive to the target market. The availability through various media sources would guarantee maximum exposure to the potential consumers. In conclusion, remarketing to teenagers and children would boost the Polaroid OneStep Express to reach its full market potential.