Essay on Digital Transformation Beyond The Digital Age
Ask any millennial about Kodak and they will struggle to tell you more about what it does. For many of us however, Kodak was a household brand and a former heavyweight in the analog film business. Kodak not only missed the boat on digital but also acutely misunderstood the ways consumers wanted to be engaged, interact with their photos and the technologies involved. As a result, Kodak filed for bankruptcy in 2012.
For companies like Kodak, to stay in business, they are forced to make desperate cost cutting measures starting with employee layoffs. Often, these layoffs start from traditional cost centres like IT, Human Resources and Marketing. During layoffs planning, the company looks at departments that are unable to prove return on investment (ROI) and are adding to the cost of running a company.
When the marketing department gets downsized, it can be difficult for marketers like us to accept. After all, marketing has always been in charge of bringing the product to market. The reality for most marketing departments is that they have a long list of complex strategies influenced by a mix of internal and…