For 40 years, you couldn’t walk through Grand Central Station in New York without admiring the Kodak Coloramas. These 18×60 foot photographs showcased the Kodak brand to commuters, highlighting the creativity of great photography in a series of “Kodak moments.” Kodak marketing executives were adept at weaving the brand into the fabric of America for generations. In fact, at its peak, Kodak captured 90% of the US film market and was one of the world’s most valuable brands.
Immensely successful companies can become myopic and product oriented instead of focusing on consumers’ needs. Kodak’s story of failing has its roots in its success, which made it resistant to change. Its insular corporate culture believed that its strength was in its brand and marketing, and it underestimated the threat of digital.
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