Reflection: Polaroid (1937 to 2001)

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Polaroid (1937 to 2001)

Polaroid was established in 1937, and is well recognized for its instant Polaroid picture and lenses. Polaroid was incapable to forecast the impact that digital cameras would have on its film industry following its initial success in securing a market which had few rivals. Ignoring emerging technological advancement and considering its historical success in the film industry to be as a permanent success, Polaroid ignored the need to seek new areas and improve their long-term competitiveness and sustainability. In 2001, the Polaroid Corporation went for bankruptcy, and it sold off the brand and all its properties. In May 2017, the Polaroid Corporation’s logo and copyright properties was purchased by the biggest owner of the Impossible Project, which first launched development of new instant films for Polaroid cameras and then in September 2017, the new brand name i.e. Polaroid Originals came into being. As digital photography entered the market, Polaroid executives were turned off by the substantial hit to margins they would be taking. While possessing the technology, Polaroid had no marketing plan for the product, and no intention to unrestraint a business model's cash cow (Db (n.d.).

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