The market for the GoPro is Action Cameras that allow to take the footage of high energy physical happenings including swimming, rock climbing, running and hunting. Tools such as Kickstarter have enabled new entrants to overcome the financial obstacle that would otherwise protect GoPro from the threat of new entrants. By clicking “Send”, you agree to our Terms of service and Privacy statement. This means that GoPro is the best in their industry, when it comes to turning their assets into sales. On social media platforms GoPro can promote their tagline “The world’s most versatile camera” (2016a). The share of the company in the market is also likely to enhance. Moreover, GoPro … Available from: https://gradesfixer.com/free-essay-examples/the-gopro-brand-analysis/, Recieve 100% plagiarism-Free paper just for 4.99$ on email, *Public papers are open and may contain not unique content. For instance, Chinese action camera maker like SJCAM and AKASO. The competitors of the GoPro are Samsung Electronics, VIEVU, Eyesee360º, and Contour Adventure Every day (Rivalfox, 2015). Because of the low price point, customers are able to purchase multiple units to gain different perspectives of the event they are trying to capture. explain the company’s business model: focus on how the company creates value. New entrants – Because GoPro has many incumbent advantages being first to market such as brand identity, distribution network, and a lot of patent protection, the threat of new entrants is fairly medium. However, the company has some disadvantages since some other competitors try to imitate the feature-loaded devices and sell their product with lower price. Customers mostly use the smartphone cameras for saving and capturing their activities and memories. However, there is a subset of the wearable action camera market that may feel isolated from GoPro’s positioning and, in turn, select a product with less ‘sport’ promotion. GoPro, Inc. - Strategy and SWOT Report, is a source of comprehensive company data and information. The market for this industry is highly competitive. These products are designed in a similar nature to GoPro – able to be mounted to a surface to capture footage from a multitude of perspectives. Their small and lightweight footprint, combined with superior durability allow the camera to be used where traditional cameras and mobile devices can’t. We will occasionally send you account related emails. But the success by reduce price of this move is not guaranteed, because the basic Hero is still expensive compared to what competitors are offering. The reason of failure of the recent session of HERO 4 is the snowballing reliance of consumers on the smartphones as compared to the action cameras. GoPro’s mission statement is: “To help you capture life as you live it, share the experience and pass on the stoke.” GoPro’s mission statement is as action-packed as its cameras. Rivals – Several rivals have entered the wearable action camera market, which has increased the intensity of the space; however, the quality and performance of the GoPro product allows them to maintain an edge over the competition. Just from $10/Page. GoPro 5 content and facilitates convenient editing and sharing. GoPro Studio and the GoPro App, available at no charge from our website, reflect the early stages of GoPro’s content management platform strategy. Moreover, we will look at GoPro’s future strategies and discuss potential challenges it might face with its new marketing strategy. we can write an original essay just for you. Having trouble finding the perfect essay? Moreover, GoPro is intended towards the expansion of current business of capturing and broadening of the assortment with content management. Press Releases; Media Alerts; Official Logos & Images Changes in macro environment forces can impact the Porter Five Forces & industry attractiveness. The two potential follow on effects detected because of the price cut are increase in the number of units sold than the planned and decrease in the sales value of the company that has led it with the negative effect. The early stages of the content management platform strategy are GoPro Studio and GoPro App. Comment Wire; Research Wire; Most Read. 1. This price cut causes the shares of the company to fall by 15 percent. GoPro taps fans’ passion for the product. GoPro SWOT Analysis. GoPro has “42 issued patents and 68 patent applications pending in the United States and 15 corresponding issued patents and 12 patent applications pending in foreign jurisdictions” protecting their technology . GoPro develops highly innovative cameras that are consistent with the customers’ needs of capturing videos and sharing online. GoPro Inc is carefully reviewing its SWOT analysis and using it to make strategic decisions. They have aligned their product positioning with professional athletes, sports enthusiasts, and anyone that wants to capture themselves performing a physical challenge that they can in turn show to the world. Though, the companies holding the major market share would find it difficult to exit from the market (Rose, 2015). The primary direct competitors include Sony, JVC, and Garmin. The perfect entry-level GoPro cameras are Hero Cameras which they have introduced recently. A company operating in this market can easily exit from the market that’s why exit barrier is low. The market size of action cameras would increase because of attenuation in the market for traditional cameras. The market size for the action cameras is likely to increase from 31 billion that was in 2013 to 51 billion till 2015 due to enhanced interest of consumers in these cameras. It can be done by quantitatively and qualitatively assessing the customer market. Technology – GoPro has differentiated themselves by having the highest quality video in the most durable body at an accessible price point that blurs the line between amateur and professional video equipment. Remember: This is just a sample from a fellow student. A l’origine, Nick Woodman était un surfeur chevronné. Such as from Chinese companies are working their magic in action cameras by coming up with cutting edge devices and offering them at affordable prices. To deepen their Strategic position, GoPro will need to leverage their equipment and brand presence to move into content management to be successful. How they figure out new revenue streams by morphing into a media company will be an interesting case study of the future. Right off the bat, it is apparent that GoPro is intended to “capture life” but not just capture it but as it is experienced. This is not an example of the work written by professional essay writers. Below are recent news articles carefully selected by the authors to help in preparing your case analysis. In addition, in October 2013, the company acquired General Things Inc., a web development firm, for their software competencies with the intent to accelerate development of these tools. Single shot panoramic imaging front-runner is EyeSee360 for both the videography and still images (Bloomberg Business, 2015). The market for these cameras is still in its nascent stage and is gaining a lot of popularity through media, advertising and social networks. This downfall would make the investors more cautious and curious about the performance of the company. Moving forward the POV segment will command more market share from the overall capture device market. However this GoPro capture devices enable differentiated use cases from mobile devices. Organizational Transformation, Statistics for Business Assignment Example, Complexity in the Nature of Human Social Interactions. The ‘wearable cameras’ have become increasingly popular, and increased the number of competitors in the space. To export a reference to this article please select a referencing style below: Sorry, copying is not allowed on our website. GoPro Business Strategy GoPro uses the content management strategy and it strives to eradicate the critical point of dealing with content by allowing the customers to share and transfer material from the cameras to a system that competently systematizes the … The competitors as discussed above are not operating as strongly as the GoPro that’s why the level of competitiveness is low (Mani, 2014). News; Analysis. We can custom edit this essay into an original, 100% plagiarism free essay. The consumers are more interested in innovative technology and unique characteristics of devices. Brand essence. Competitive Analysis Of Stihl Chain Essay, Examples of Brands That Use Email Marketing Essay, History And Features Of The Brand Coca-Cola Essay, Emma’s Bakery’s: Ground Brand Analysis With the advent of the internet comes new ways to reach customers. 47.50%. To maintain its position, GoPro will have to deepen their strategic position through content generation and management and continuously develop their technology to meet the needs of tomorrow’s generation today. With these early relationships, they have developed a brand identity and sales channel to the extreme sports enthusiast (estimated at 25,000 stores globally) that is difficult to replicate. As competitor products approach the quality of GoPro this rivalry will intensify. This condition will force eventually following the competition in a bid to increase sales. GoPro: External/Internal Industry Analysis, Team D. Background: After Nick Woodman graduated college he decided to try to open his own business and it was called funBug. The series of HERO 4 that allows live streaming, professional videography and premium quality photography and many other innovative features to capture and share (GoPro Annual Report, 2014). The rivalry will continue to increase as new players have entered the market focusing on a subset of the space. Though GoPro, Inc. is one of the leading brands in the manufacturing of Action Cameras and it offers cameras with high innovation and technology. The downfall will cause the profits to decrease and accordingly the returns given to investors will also decline. The company focusses on the needs of the customer and satisfies them instead of just advancing the technology. have been increasing (GoPro, 2015). GoPro has also stated that it wants to be profitable and is planning to reduce its capital expenditure to below $600 million. This positioning has enabled GoPro to rapidly become the leader in their space with the athletic consumer. The following excerpt is from the company’s recently released S-1: “In particular, we incorporate video compression and image processing semiconductors from one provider, Ambarella, Inc., into all of our cameras, and we do not have an alternative supplier for these key components.” Profits could also be hindered if competitors in this market do not possess manufacturing capabilities. The early stages of the content management platform strategy are GoPro Studio and GoPro App. GoPro est une marque fondée en 2005 par un surfeur californien répondant au nom de Nick Woodman. It offers other equipment too that include standby series of batteries, charging accessories and data cables to attach its GoPro cameras to monitors and televisions to manage and transfer data. SWOT analysis of GoPro Strength Weaknesses Unique business model Brand equity (quality, durability) In this market buyers are price sensitive as there is low differentiation among devices and a lack of diversity of choice. Distribution – GoPro has developed many exclusive relationships with specialty retailers (Surf, ski, and motorsports stores) which established their products as the premier camera in the industry. 1:06:54 . Partnerships will also play an important role in retaining potential substitute products as complementary allies, rather than competitors. It permits users to easily and wirelessly manage, store and share content from cameras to mobile devices through GoPro App (GoPro Annual Report, 2014). The rivals have forced GoPro to forego its premium positioning and reduce prices in order to move its action cameras off the shelves. Internal development of complementary technologies which fit with their market positioning, such as a movement towards becoming a more comprehensive media company with content management and sharing competencies, will also allow GoPro to maintain its dominant position, mitigating impact of competitors on market share. Identify a competitor company that belongs to the same industry and occupies similar position in the industry. It is done to generate the level of demand for the action cameras and draw the attention of the consumers. Through heavy investment in research and development they are able to develop new products that users perceive as more valuable and are willing to pay a premium for. However, the market for this industry is highly competitive and characterized by frequent product introductions and rapid technological advances. GoPro Mission Statement and Analysis . The GoPro channel on Pinterest has been introduced and viewers of its videos on social websites like YouTube etc. The information obtained from the market surveys will help GoPro Inc management in identifying the emerging opportunities, exposing the potential threats and understanding how they relate to the company’s major strengths and weaknesses. The Study of a Major Firm GoPro Marketing Strategy Report. GoPro Strategic Capabilities and Competitive Advantage. Companies with strong expertise in consumer electronics (and large R&D budgets) have the resources available to quickly enter this space (as demonstrated by Sony, Panasonic, JVC and Garmin). GoPro generated a total of $1.2 billion revenues during 2016. In fact, GoPro is now following the competition to save its standing in the market. Therefore, the decrease in the price would be desirable for the consumers. Consumer agony points linked with the managing, distributing, capturing and relishing attractive content are alleviated by GoPro’s software and hardware solutions. ... McDonald's Strategic Analysis - Duration: 1:06:54. Literally, it indicates that their target market is action camera market. The main purpose cited for this price cut was the less willingness of consumers to pay such huge amounts for action cameras and GoPro’s intention was to upsurge the demand for action cameras by such belligerent price cut two times a year in the same invention (Maan & Tharakan, 2015). Threat of substitutes – One of the threats to the recording device industry is the substitution of smartphones, which can perform similar functions and are widely owned with some estimates putting smartphone ownership at 22% of the global population. GoPro has established itself as one of the best at taking advantage of this medium by using a unique and powerful technique. The price of Gopro product is well known for high price compare to other competitors. This was achieved through focusing on their target market markets which majorly included enthusiasts and through their aggressive marketing; they were able to attract non-enthusiasts who only aimed at capturing special moments in their day to day lives such as weddings (Hooley, 2017). Overview; Press Releases and Media Alerts. The Return on Assets ratio gives an idea as to how efficiently management is at using its … The increased market share of mobile phones is also attracting customers towards action cameras (Mani, 2014). This condition will make industry profitability become lower as companies are subject to supplier’s prices. Strategic Analysis Corporate Strategy Garmin follows a first mover, differentiation strategy. It is reported that 54% of the action camera owners own the cameras of GoPro, Inc. GoPro enables consumers to record picture and video when they are doing activities. Identify the industry that you company belongs to and the company’s place in the industry (e.g. How did GoPro benefit from its marketing? The funds from this business decision were used to expand their marketing campaign and position themselves as the top action camera. He built the company as a sports enthusiast who wanted an easy and superior way to share his passions through video. To maintain its position, GoPro will have to deepen their strategic position through content generation and management and … Moreover, the new products launched must be in accordance with the market preferences so the significant market share held by the company could be maintained and further enhanced. The share of the future purchase purposes of GoPro has also increased to 73%. Where many companies are trying to produce that perfect “viral” video that reaches millions of viewers, GoPro “is releasing multiple videos every day after stumbling on a technique that leads to thousands of hours of free publicity a week”. GoPro uses the content management strategy and it strives to eradicate the critical point of dealing with content by allowing the customers to share and transfer material from the cameras to a system that competently systematizes the material and enables suitable sharing and editing. This kind of camera incredibly popular with sports enthusiasts, practice water sports, ski, snowboard, motorcycling and other extreme sports, or anyone wanting to record cool videos then upload in social media. Furthermore, it also provides a video editing tool known as GoPro Studio that permits the users to generate expert and professional quality videos from the content of their GoPro. GoPro uses the content management strategy and it strives to eradicate the critical point of dealing with content by allowing the customers to share and transfer material from the cameras to a system that competently systematizes the material and enables suitable sharing and editing. Team D - GoPro External Internal Analysis 1. We provide you with original essay samples, perfect formatting and styling. "A l’époque, les seules options étaient d’utiliser un appareil jetable étanche et de le mettre en place de faço… Home — Essay Samples — Business — Brand — The Gopro Brand Analysis. The entry barrier is high due to responsiveness and sensitivity of technological advancement and it is not easy for any of the company to attain the level of competitiveness at which GoPro has been operating. The rapid development of technology in smartphone should be take into account. The consumers will tend to buy the product because of decrease in the price of recent products. Telcos investment in LTE/ LTE-A will support growth in mobile subscriptions ; CEOs trends: Covid-19 leads … GoPro has successfully carved a new niche in an otherwise mature and competitive industry. The hours of GoPro-related content watched on YouTube in 2016 increased 86% year-over-year to approximately 78 million hours. In the next future availability of smartphones and their capability to capture video to create an accessory that transforms smartphones into underwater dive cameras probably will appear. • Make sure you carefully read the assignment questions • Read the entire case, jotting down your notes. Companies could then deal with reducing the power of the buyers and limiting the threat of substitutes. they intend to further develop GoPro into a media company with content management a key pillar of this strategy. Share By facilitating the capture, management and editing of engaging photos and videos, GoPro is ultimately helping our consumers share more compelling personal content. Attention! However, the industry is experiencing rapid growth, attracting a lot of new companies with competitive products. However, GoPro has made it sure that the company will be having the maintained position soon because of increased demand for the products due to this price cut (DiSavino & Reuters, 2015). The company that quickly became famous and synonymous for its body mounted cameras has failed in the launch of recently introduced product HERO 4 because consumers rely more on the smartphones for making great determination videos (Maan & Tharakan, 2015). Sections. You can get 100% plagiarism FREE essay in 30sec, Sorry, we cannot unicalize this essay. 2020 © gradesfixer.com. GoPro, Inc. have its headquarters in San Mateo, California and was originated in 2004 (GoPro Yahoo Finance, 2015). The GoPro marketing strategy team searches the web for the best and coolest videos shot with their cameras. However, the large companies can enter in the market introducing similar products with innovations. The most important force to overcome in developing strategy is the threat of new entrants. Development of their desktop application, GoPro Studio, and their mobile application GoPro App represent their early foray into the strategy of content management. 2.3.1. The report covers the company’s structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. If you’d like this or any other sample, we’ll happily email it to you. VIEVU Cameras are manufactured for the Roughest Circumstances that are tremendously rocky, water-resistant, and easy to use (VIEVU, 2015). PESTEL analysis is critical to understand the external threats & opportunities arising because of the macro environment developments. The flagship product, HERO 4, has cut off by the GoPro by $100 after its launch. Company culture – Nick Woodman-led company essentially created this market by launching the first commercially available action camera back in 2002. GoPro marketing strategy was a success and recognized by the entire world as they recorded high profits. Particular advantage got by GoPro over its competitors is its groundbreaking, exclusive and hero line of capture devices. Among its third party suppliers will need to leverage their equipment and brand presence to move action... Also attracting customers towards action cameras are subset of smartphones the profits to decrease and accordingly returns... Camera equipment for extreme sports, GoPro … using the SWOT technique by comparing GoPro with its new strategy... The most important force to overcome in developing strategy is the threat of substitutes levers of in. 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