There have been many articles posted on the internet about the filing of Bankruptcy by Kodak, I have read a few and here are some of my comments:
WHY?
- too iconic, “Kodak” was always associated with photographic film technology, at least to the average consumer.
- businesses that don’t take into account the value of internet feedback and it’s ability to bypass the word of mouth recommendations to buy a product. For instance a purchase decision influenced by online reviews rather a recommendation of a friend or family member. The ability through on-line social networking to get the opinions of experts and many users to weigh a decision BOTH on a purchase and a business practice (bank fees)
- Realize that if a current product, a sale, or a service can be digitized, (audio,video, text) and accessed by a internet connection,creation and/or distribution can be radically altered and time lines shrunk. Example : books, E-readers, personal publishing, movie streaming, downloading audio. The On-demand generation ?
In the same realm, here an article about big box retailers:
Will the following increase, decrease, or remain the same?
- Ordering or receiving a product to your door by the internet (or even by mail order or phone) vs. a Brick and Mortar purchase.
- A consumer custom designs a product or service to his/her preference via computer and internet.
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