Posted by Stephanie Startz on October 30, 2009 10:10 AM
Launching their first brand campaign since 2005, Kodak is trying to cheer up consumers worried about the ailing economy.
Starting tomorrow, Kodak will inform consumers that "It's Time to Smile" in a series of television and print advertisements.
The branding campaign is a response the challenging economic climate. Eastman Kodak Company commissioned a report, the “Future of Reconnectivity,” which found that during "tough times, people have a common desire to reconnect with loved ones, in part, by sharing photos."
Besides traditional media buys, Kodak has begun to harness Web 2.0 marketing tools. This summer the company tapped two college students from Purdue University, the "Compliment Guys," as their brand ambassadors on Facebook. "The Compliment Guys" share a similar outlook as Kodak's "It's Time to Smile" campaign, seeking to lift spirits amidst the worst economy since the Great Depression.
Kodak could use some cheering up of its own, announcing Thursday a $111 million dollar third quarter loss, the company's fourth quarterly loss.
Kodak was late to embrace digital camera technology, and has long lagged behind competitors. Perception of the brand's technical prowess suffers, and it is still heavily identified with film.
Branding positivity is gaining in popularity, and consumers are increasingly receptive to such campaigns. But Kodak needs to counter its public perception as a second-rate digital brand if it expects to turn a profit.