Polaroid's Competitive Strategy: Porter's Five Forces & Improvement

This report provides a business strategy analysis of Polaroid Plc, focusing on Porter's Five Forces to evaluate the company's competitive environment. It examines competition within the industry, the potential for new entrants, the bargaining power of suppliers and customers, and the threat of substitutes. The analysis suggests strategies Polaroid can implement to improve its competitive edge and market position, including charging more, adopting new technologies, enhancing customer satisfaction, differentiating products, ensuring cost-effectiveness, investing in customer relationships, and identifying competitors. The report concludes by summarizing the key findings and emphasizing the importance of strategic adaptation for Polaroid's continued success.

Business strategy

TABLE OF CONTENT
 INTRODUCTION
 Porter's five forces analysis
 Appropriate strategies to improve competitive edge and market positions
 CONCLUSION
 REFERENCES

INTRODUCTION
 Business strategy is the set of the competitive moves and the actions that the organization use to
attract the customers, compete in the market, strengthening the performance and to achieve the
organizational goals.
 This used to outline the strategies that should be carried out by the business in order to reach the
desired goals.
 The presentation is based on the Polaroid Plc. Which is one of the America's original high- tech
success stories.
 This presentation will outline the Porter's five forces analysis.
 Further this report will outline the appropriate strategies for the company order to improve the
competitive edge and have the good market position.

PORTER'S FIVE FORCES ANALYSIS
 Porter five forces is the framework which helps in analysing the company's competitive
environment.
 The porters five forces analysis foe the organization is as follows:
1. Competition in the industry
2. Potential of new entrants into an industry
3. Bargaining power of suppliers
4. Bargaining power of customers
5. Threat of substitutes

CONTINUED..
 Competition in the industry: Polaroid is actually engaged in order to supply the
services in more that 90 countries across the globe.
This used to increase in the demand of the products they use the media and
media service provide.
 Potential of new entrants into an industry: There is basically the high cost in order to
enter the media and entertainment industry.
The entertainment industry used to require the high capital so the entrants of the
new firms are less in this industry.

CONTINUED
 Bargaining power of customers: The customers are the base of the profitability of the
company, so they have to maintain the prices in order to have the targeted customers.
 Bargaining power of suppliers: By having the large number of suppliers provides and
opportunity to the company to switch when the suppliers are charging more from them.
The size of the organization matters in order to determine the bargaining power of the
suppliers.

CONTINUED
 Threat of substitutes: By the increased in the technology including the 3M, Sony,
Xerox and other digital technologies are the substitutes of the company.
This may affect the profitability of the organization as the threat of substitutes are
high in this industry.

APPROPRIATE STRATEGIES TO
IMPROVE COMPETITIVE EDGE AND
MARKET POSITIONS
 Polaroid can gain the competitive advantage and market position by using the
following strategies:
1. Charge more
2. Adopt new technology
3. Delight with the customers
4. Have differentiated products
5. Cost- effective
6. Invest in customer relationships
7. Must identify competitors

CONCLUSION
 The above presentation is based on the given case study of the Polaroid which is one of
the America's original high- tech success stories.
 This presentation has evaluated about the Porter's five forces analysis for the cited
organization.
 Further this report has evaluated the appropriate strategies for the company in order to
improve the competitive edge and have the good market position.

REFERENCES
 Baxter, G., 2019. A strategic analysis of Cargolux Airlines International position in the
global air cargo supply chain using Porter’s Five Forces Model. Infrastructure. 4(1). p.6.
 Boafo, N. D., Kraa, J. J. and Webu, C. G., 2018. Porter’s Five Forces Impact on the
Performance of Companies in the Banking Industry In Ghana.
 Caballero-Morales, S. O., 2021. Innovation as recovery strategy for SMEs in emerging
economies during the COVID-19 pandemic. Research in international business and
finance. 57. p.101396.
 Hole, Y., Snehal, P. and Bhaskar, M., 2019. Porter's five forces model: gives you a
competitive advantage. Journal of Advanced Research in Dynamical and Control Syste.
11(4). pp.1436-1448.
 Irfan, M. and et.al., 2019. Competitive assessment of Indian wind power industry: A five
forces model. Journal of Renewable and Sustainable Energy. 11(6). p.063301.