Kodak was the first traditional film maker with any competition. However, after the Fuji’s U.S market entering the photography market in 1972, this lead the Kodak’s market share was eroded. Kodak and Fujifilm play a key role in photography market. Both Kodak and Fujifilm focus on photography and imaging as their core business. Not only that, Fuji always prepare for the rapid changing demand in the market, the business scope of Fuji is wide which is include digital cameras, printers and photocopiers.
Moreover, Fuji also developed into the health sector, which is producing medical equipment that includes X-ray imaging and chemicals. They prepared for the switch to digital technology and developed new business lines. At the begining, they only started off their business as a photography and imaging company, then they diversified into different other products such as digital cameras and medical equipment.
For this reason, Fujifilm are able to achieve profits depending on the preferences of their various customer bases. After Fuji successful dominance in the Japanese photography market, Fujifilm realized the importance in venturing into the global market. Strategic alliances between Fuji Xerox Corporation which is a subsidiary of Fujifilm and Xerox Corporation of USA occurred when Fuji Xerox and Xerox created a joint venture in 1962. Based on the joint venture, Fuji Xerox can gain some powerful benefit by increasing the value of the company in the photography industry. Fuji Xerox and Xerox can combined funds equipped both companies with the capability for innovation, investments and research and development.Fujifilm spent around ten times more in advertisement compared to Kodak did in Japan.
This ensures that these measures and values are integrated in all company procedures. They also implemented a transparency policy to keep the government and customers aware of its business activities.Compared to Kodak. Fujifilm implemented its goals and ideas and the company’s fast reaction to change was an advantage over Kodak.
The success of Fujifilm can be mainly related to Management’s flexibility to be innovative and venture into new technology, which has put the company at the top of the photographic industry since its founding in 1934.