GradesFixer. Moreover, we will look at GoPro’s future strategies and discuss potential challenges it might face with its new marketing strategy. Want us to write one just for you? In this market buyers are price sensitive as there is low differentiation among devices and a lack of diversity of choice. 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. From the company’s S-1 filing they describe a YouTube marketing strategy as the Virtuous Cycle: The company now has more than 7.2 million “likes” on Facebook, more than 2 million Instagram followers, and more than 1.8 million subscribers on YouTube, where the company is ranked as the No. This report provides the last five years property, plant & equipment (PP&E;) investment analysis of GoPro, Inc. (GPRO) from 2012 to 2016. 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 … adam October 3, 2015 Electronic No Comments. Keep the GoPro reputation for innovation Invest resources into developing a new product to enter a new market The more notable and substantial solution Successfully transition to new market through choosing similar markets GoPro’s marketing strategy incorporates social media platforms. Porter Five Forces Analysis is a strategic management tool to analyze industry and understand underlying levers of profitability in a given industry. 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. GoPro generated a total of $1.2 billion revenues during 2016. Samsung Electronics also manufacture cameras to stream live like Smart Camera with Wi-Fi connectivity (Samsung Yahoo Finance, 2015). SWOT analysis is a vital strategic planning tool that can be used by GoPro, Inc. managers to do a situational analysis of the firm . However this threat can quickly evolve stronger, especially coming from consumer electronic giants. 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. GoPro Inc Marketing Strategy development requires a comprehensive market analysis. A HERO line of capture instruments including top accessories and cameras are offered by the company. GoPro Inc – Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. Identify a competitor company that belongs to the same industry and occupies similar position in the industry. Are you interested in getting a customized paper? Evaluate growth potential of the company: discuss how the company’s sustain their strategic advantages and explain risks associated with the company’s business model. The essay presents a strategic analysis on GoPro, Inc., an American leading technology company that specializes in the manufacture of eponymous action cameras and … Share By facilitating the capture, management and editing of engaging photos and videos, GoPro is ultimately helping our consumers share more compelling personal content. GoPro, Inc. managers can use Porter Five Forces to understand how the five competitive forces influence profitability and develop a strategy for enhancing GoPro, Inc. competitive advantage and long term profitability in Photographic Equipment & Supplies … The products of GoPro are marketed and sold through the retailers and wholesalers along with their official Website in United States and globally. The early stages of the content management platform strategy are GoPro Studio and GoPro App. 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). How did GoPro benefit from its marketing? 2.3.1. explain the company’s business model: focus on how the company creates value. GoPro has also stated that it wants to be profitable and is planning to reduce its capital expenditure to below $600 million. Development of their desktop application, GoPro Studio, and their mobile application GoPro App represent their early foray into the strategy of content management. 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. Sections. On social media platforms GoPro can promote their tagline “The world’s most versatile camera” (2016a). Suppliers – There is a high depend on third party suppliers, due to the limited amount of suppliers that offer capable electronics that are rare and exclusive, particularly in this area the power of suppliers is high. News; Analysis. This is not an example of the work written by professional essay writers. using the SWOT technique by comparing GoPro with its main brand and product competitors. Contour Cameras produces cameras that empowers contemporary time explorers, sportsmen and women, voyagers, specialists and amateurs to record their video story of adventure, travel and action (Contour Yahoo Finance, 2015). 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. The power of suppliers will diminish as this market segment matures. GoPro brand strategy / positioning case study If you want to get access to GoPro brand strategy analysis including brand essence, brand values, brand character, brand archetype and expert commentary register or log in. The Return on Assets ratio gives an idea as to how efficiently management is at using its … We can custom edit this essay into an original, 100% plagiarism free essay. The GoPro marketing strategy team searches the web for the best and coolest videos shot with their cameras. PESTEL analysis is critical to understand the external threats & opportunities arising because of the macro environment developments. Unique accessories also open up a new channel for content generation. Single shot panoramic imaging front-runner is EyeSee360 for both the videography and still images (Bloomberg Business, 2015). The technology factors that affect this industry is moderately affected since the commoditization of the action camera market has caught up with GoPro as the leading company. It is a handy technique to map out the present Strengths (S), Weakness (W), Opportunities (O) & Threats (T) GoPro, Inc. is facing in its current business environment. Please refer to and follow the guidelines contained in this document when analyzing a case study. GoPro was supposed to be a great growth stock just a few years ago, but strategic missteps have cost the company hundreds of millions of dollars and are leaving it … This means that GoPro is the best in their industry, when it comes to turning their assets into sales. The early stages of the content management platform strategy are GoPro Studio and GoPro App. Investor Relations. "A l’époque, les seules options étaient d’utiliser un appareil jetable étanche et de le mettre en place de faço… GoPro (GPRO) is the front runner in the case of market share of i.e. Team D - GoPro External Internal Analysis 1. 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). have been increasing (GoPro, 2015). A l’origine, Nick Woodman était un surfeur chevronné. 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). The consumers will tend to buy the product because of decrease in the price of recent products. Comment Wire; Research Wire; Most Read. Changes in macro environment forces can impact the Porter Five Forces & industry attractiveness. 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 The inherent risk with their technology is that it is susceptible to imitation, and many new entrants are already trying to duplicate their success. Essay, The Importance Of Brand Positioning: Wonder Juice Bar and Rush Bowls Essay, How successful was Abercrombie and Fitch’s rebranding of 2019 Essay, explain the company’s business model: focus on how the company creates value• discuss company’s resources AND capabilities (strategic advantages), Evaluate growth potential of the company: discuss how the company’s sustain their strategic advantages and explain risks associated with the company’s business model. 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. The company said that the price cut of $200 from original price of $400 was necessary to manage the demand for the cameras. GoPro invested a total of $76.5 million on property, plant & equipment (PP&E;) activities during 2016. The downfall will cause the profits to decrease and accordingly the returns given to investors will also decline. 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”. Even though, smartphones and tablets with photo and video functionality have significantly displaced traditional camera sales. GoPro Inc is carefully reviewing its SWOT analysis and using it to make strategic decisions. Home — Essay Samples — Business — Brand — The Gopro Brand Analysis. However, the company has some disadvantages since some other competitors try to imitate the feature-loaded devices and sell their product with lower price. 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. As part of the further development of their brand identity, GoPro sold a 9% stake in their company to Foxconn. The perfect entry-level GoPro cameras are Hero Cameras which they have introduced recently. 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. This positioning has enabled GoPro to rapidly become the leader in their space with the athletic consumer. With the advent of the internet comes new ways to reach customers. Organizational Transformation, Statistics for Business Assignment Example, Complexity in the Nature of Human Social Interactions. Company’s competitive and corporate strategy: Internal Analysis Summary, How activities fit together (or not fit together) The biggest challenge for this company is their capabilities interact with 5 forces with the threat of new entrants presenting the greatest potential to negatively impact GoPro’s market share, GoPro’s strategy of promoting a lifestyle, rather than just an electronic good, will contribute to GoPro’s sustainability as a premium product with dominant market share. The flagship product, HERO 4, has cut off by the GoPro by $100 after its launch. This is the detailed SWOT Analysis of GoPro which covers the internal and external audits of company based on the important key factors such as market share, brand value, customer satisfaction, financial position, marketing strategy, competitors, economic conditions and others. 1 consumer brand. GoPro has established itself as one of the best at taking advantage of this medium by using a unique and powerful technique. Additionally, smaller players are using Kickstarter (which is a popular crowdfunding source) as a means of obtaining the capital required to fund new companies that have breakthrough competitive potential (ex: 360 Camera by Giroptic). This downfall would make the investors more cautious and curious about the performance of the company. Can part of GoPro’s success be attributed to its marketing strategy? Press Releases; Media Alerts; Official Logos & Images GoPro taps fans’ passion for the product. For a SWOT analysis to be conducted of the firm, an interactive process needs to be undertaken by coordinating among all the departments of the firm such as finance, marketing, operations, human resource, logistics, strategic planning, management information systems etc. 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. The consumers are more interested in innovative technology and unique characteristics of devices. The share of the future purchase purposes of GoPro has also increased to 73%. Value Chain Analysis. ... McDonald's Strategic Analysis - Duration: 1:06:54. 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). 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 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. Buyers – Currently GoPro is the leading brand in a nascent industry, allowing them gain more profit for their action cameras. The report covers the company’s structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Below are recent news articles carefully selected by the authors to help in preparing your case analysis. GoPro 5 content and facilitates convenient editing and sharing. 1:06:54 . This is supported by current phenomena where more and more people use social media to express their daily life, therefore the need for an action camera is blooming. 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. they intend to further develop GoPro into a media company with content management a key pillar of this strategy. It can be done by quantitatively and qualitatively assessing the customer market. Overview; Press Releases and Media Alerts. Promoting the tagline is important because it positions itself from other competitors on the market. 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