December 21, 2012

If you are like millions of Americans, capturing holiday memories – “Kodak Moments” (from the firm’s legendary ad campaign) – were an important part of any family gathering. Today, most people capture those holiday moments with their smartphones and instantly send them to everyone they know.

In my book, I point out the importance of reaching the future before your customers do. I used Eastman Kodak as an example. How could a company that practically invented photography miss the digital revolution? Now in bankruptcy, Kodak has just sold the company’s patents for $525 million. Last month, Kodak arranged with creditors for $830 million in loans. It now continues its fight to emerge from Chapter 11 as a much smaller company focusing on computer printers and commercial imaging technologies.

Very sad, because this didn’t have to happen, if the company had embraced change and new technologies back in the 80’s when they were at the top of their game with more than 145,000 employees worldwide. A question for your next marketing meeting: What new technologies and innovative marketing ideas are you planning to launch in 2013? If the answer is none, please re-read this post.

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