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. 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”. It is reported that 54% of the action camera owners own the cameras of GoPro, Inc. 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. have been increasing (GoPro, 2015). This means that GoPro is the best in their industry, when it comes to turning their assets into sales. 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. GoPro Mission Statement and Analysis . VIEVU Cameras are manufactured for the Roughest Circumstances that are tremendously rocky, water-resistant, and easy to use (VIEVU, 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. (Key updates posted monthly) GoPro Looking for Buyout Options? How GoPro Rebooted Itself, CEO Nick Woodman Talks Strategy — MashTalk - Duration: 33:52. Though, the companies holding the major market share would find it difficult to exit from the market (Rose, 2015). Brand essence. 4.1.3. GoPro est une marque fondée en 2005 par un surfeur californien répondant au nom de Nick Woodman. Buyers – Currently GoPro is the leading brand in a nascent industry, allowing them gain more profit for their action cameras. 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. The competitors of the GoPro are Samsung Electronics, VIEVU, Eyesee360º, and Contour Adventure Every day (Rivalfox, 2015). Order Essay. It would be beneficial for the consumers to buy the products on less prices. GoPro strategy need to focus on the company's future as the initial hype around the company calms. 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). GoPro has an asset turnover ratio of 2.05% which is almost double the industry median of 1.06%. 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). As competitor products approach the quality of GoPro this rivalry will intensify. The inherent risk with their technology is that it is susceptible to imitation, and many new entrants are already trying to duplicate their success. The electronic device industry is rapidly evolving, and sensitive to consumer trends. The early stages of the content management platform strategy are GoPro Studio and GoPro App. GoPro Studio and the GoPro App, available at no charge from our website, reflect the early stages of GoPro’s content management platform strategy. This condition will make industry profitability become lower as companies are subject to supplier’s prices. It is done to generate the level of demand for the action cameras and draw the attention of the consumers. The funds from this business decision were used to expand their marketing campaign and position themselves as the top action camera. adam October 3, 2015 Electronic No Comments. using the SWOT technique by comparing GoPro with its main brand and product competitors. GoPro has successfully carved a new niche in an otherwise mature and competitive industry. Diversification and innovation are key to live up to investor needs as company's share drops over 90% since IPO. 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. Comment Wire; Research Wire; Most Read. Please refer to and follow the guidelines contained in this document when analyzing a case study. Organizational Transformation, Statistics for Business Assignment Example, Complexity in the Nature of Human Social Interactions. Moreover, we will look at GoPro’s future strategies and discuss potential challenges it might face with its new marketing strategy. This is not an example of the work written by professional essay writers. The electronic device industry is rapidly evolving, and sensitive to consumer trends. This essay has been submitted by a student. 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. 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. For example, GoPro has sole source suppliers among its third party suppliers. Home — Essay Samples — Business — Brand — The Gopro Brand Analysis. 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. The value of a smartphone in the form of convenience and availability could work to reduce buyer’s cost of switching as smartphone video quality and durability improve, this in turn will increase the force level from low to high. We can custom edit this essay into an original, 100% plagiarism free essay. Samsung Electronics also manufacture cameras to stream live like Smart Camera with Wi-Fi connectivity (Samsung Yahoo Finance, 2015). However this GoPro capture devices enable differentiated use cases from mobile devices. 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. There is no significant factor for politic and economic in this sector, However for the social factors it make this company business become bright in the recent days or in the future. 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. GoPro enables consumers to record picture and video when they are doing activities. Unique accessories also open up a new channel for content generation. Changes in macro environment forces can impact the Porter Five Forces & industry attractiveness. Single shot panoramic imaging front-runner is EyeSee360 for both the videography and still images (Bloomberg Business, 2015). The competitors as discussed above are not operating as strongly as the GoPro that’s why the level of competitiveness is low (Mani, 2014). 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. GoPro, Inc. have its headquarters in San Mateo, California and was originated in 2004 (GoPro Yahoo Finance, 2015). GoPro, Inc. - Strategy and SWOT Report, is a source of comprehensive company data and information. As the established leader in versatile camera equipment for extreme sports, GoPro has established its unique position. Just from $10/Page. 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). 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. 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). 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. Consumer agony points linked with the managing, distributing, capturing and relishing attractive content are alleviated by GoPro’s software and hardware solutions. 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 The GoPro company has to compete against established, well-known camera manufacturers such as Canon Inc., Nikon Corporation, Olympus Corporation, Rollei GmbH & Co. KG and Vivitar Corporation, as well as large, diversified electronics companies such as, Panasonic Corporation, Polaroid Corporation, Samsung Electronics Co., Sony Corporation and VTech Technologies, and specialty companies such as Garmin Ltd, but also have to compete with new emerging company in the industry. The rivals have forced GoPro to forego its premium positioning and reduce prices in order to move its action cameras off the shelves. Identify a competitor company that belongs to the same industry and occupies similar position in the industry. 2019 Aug 27 [cited 2020 Dec 28]. 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. GoPro has established itself as one of the best at taking advantage of this medium by using a unique and powerful technique. Literally, it indicates that their target market is action camera market. 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. Press Releases; Media Alerts; Official Logos & Images Cette marque appartient à la société Woodman Labs, basée à San Mateo en Californie, qui conçoit des caméras. Company culture – Nick Woodman-led company essentially created this market by launching the first commercially available action camera back in 2002. It is because this segment will continue attract more entrant increasing the risk for profitably to the company. 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. With the help of value proposition, GoPro … The company focusses on the needs of the customer and satisfies them instead of just advancing the technology. Porter Five Forces Analysis is a strategic management tool to analyze industry and understand underlying levers of profitability in a given industry. GoPro Inc – Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. It can be done by quantitatively and qualitatively assessing the customer market. GoPro invested a total of $76.5 million on property, plant & equipment (PP&E;) activities during 2016. 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. We provide you with original essay samples, perfect formatting and styling. GoPro SWOT Analysis. "A l’époque, les seules options étaient d’utiliser un appareil jetable étanche et de le mettre en place de faço… It permits users to easily and wirelessly manage, store and share content from cameras to mobile devices through GoPro App (GoPro Annual Report, 2014). Case Analysis Memo. explain the company’s business model: focus on how the company creates value. The market size of action cameras would increase because of attenuation in the market for traditional cameras. This choice to align with athletics was an active positioning decision made by GoPro, which can result in a trade-off of alienating the ‘non-athlete’ consumer. Moreover, GoPro is intended towards the expansion of current business of capturing and broadening of the assortment with content management. The GoPro channel on Pinterest has been introduced and viewers of its videos on social websites like YouTube etc. Discuss company’s resources AND capabilities (strategic advantages). We’ve got you covered. Tools such as Kickstarter have enabled new entrants to overcome the financial obstacle that would otherwise protect GoPro from the threat of new entrants. As part of the further development of their brand identity, GoPro sold a 9% stake in their company to Foxconn. Having trouble finding the perfect essay? The Study of a Major Firm GoPro Marketing Strategy Report. However, GoPro has managed to urge the investors to stick with the company for having long term benefits and telling that this substandard launch yet disproves the idea and notion that the invention is commoditized and GoPro have no real competition in this market that could help to sustain the margin caused in the sales price and revenues. Conduct Porter’s five forces analysis, conclude with assessment of industry’s current profitability and growth potential. 47.50%. GoPro was previously recognized as Woodman Labs, Inc. and transformed its name to GoPro, Inc. in February 2014. Being sold in these extreme sport stores immediately portrays an image of durability by association. Telcos investment in LTE/ LTE-A will support growth in mobile subscriptions ; CEOs trends: Covid-19 leads … On social media platforms GoPro can promote their tagline “The world’s most versatile camera” (2016a). To export a reference to this article please select a referencing style below: Sorry, copying is not allowed on our website. Partnerships will also play an important role in retaining potential substitute products as complementary allies, rather than competitors. 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 … A company operating in this market can easily exit from the market that’s why exit barrier is low. 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. However, the company has some disadvantages since some other competitors try to imitate the feature-loaded devices and sell their product with lower price. There are many ways to conduct a case analysis. Strategic Analysis Corporate Strategy Garmin follows a first mover, differentiation strategy. 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. SWOT analysis of GoPro Strength Weaknesses Unique business model Brand equity (quality, durability) You can order Unique paper and our professionals Rewrite it for you. Are you interested in getting a customized paper? Identify the industry that you company belongs to and the company’s place in the industry (e.g. Positioning – GoPro is positioned as a wearable action camera. The consumers of the action camera market are physically active people because they are users of smartphones and action cameras are subset of smartphones. 1 consumer brand. 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. The investors though are found to be skittish about the capability of the company to defend against the competition of Samsung that has been continuously upgrading its cameras for high resolution video. The essay presents a strategic analysis on GoPro, Inc., an American leading technology company that specializes in the manufacture of eponymous action cameras and … 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. Concurrently, GoPro will need to continue investments in research and development and partnerships which will allow GoPro to maintain its position as a leader in next generation technology. Investor Relations. this essay is not unique. 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 … 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. CSI Seattle Construction Industry Analysis, Advantages and Disadvantages of Euthanasia, PetMed Express Inc. The huge price cut in the HERO 4 session is because of the decreasing demand of action cameras that also impacted the consumers, investors and managers of GoPro (Maan & Tharakan, 2015). 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. 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. Share By facilitating the capture, management and editing of engaging photos and videos, GoPro is ultimately helping our consumers share more compelling personal content. A lot of new players are being attracted to this industry which will likely have an impact on price, features and quality of action cameras. However, the industry is experiencing rapid growth, attracting a lot of new companies with competitive products. 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. The GoPro marketing strategy team searches the web for the best and coolest videos shot with their cameras. The share of the future purchase purposes of GoPro has also increased to 73%. GoPro taps fans’ passion for the product. GradesFixer.com uses cookies. top performer, middle range, bottom)GoPro has come a long way since then as its technology has grown by leaps and bounds. However this threat can quickly evolve stronger, especially coming from consumer electronic giants. GoPro’s marketing strategy incorporates social media platforms. Below are recent news articles carefully selected by the authors to help in preparing your case analysis. News; Analysis. Team D - GoPro External Internal Analysis 1. How did GoPro benefit from its marketing? All rights reserved Gradesfixer ™, The Gopro Brand Analysis [Internet]. 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. 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 has further abridged the amount of HERO 4 recently by $100. A l’origine, Nick Woodman était un surfeur chevronné. we can write an original essay just for you. This advantage can stay as long as the company continues to provide innovative and unique capturing devices. Pssst… • Make sure you carefully read the assignment questions • Read the entire case, jotting down your notes. There are many camera manufacturers out there, with their speciality for the market share competition. The managers of the company are also affected by this price cut because revenues are falling down that caused the managers and employees to think over the company’s ability. GoPro develops highly innovative cameras that are consistent with the customers’ needs of capturing videos and sharing online. Available from: https://gradesfixer.com/free-essay-examples/the-gopro-brand-analysis/, Recieve 100% plagiarism-Free paper just for 4.99$ on email, *Public papers are open and may contain not unique content. The consumers are more interested in innovative technology and unique characteristics of devices. Students who find writing to be a difficult task. However, the market for this industry is highly competitive and characterized by frequent product introductions and rapid technological advances. Afin d’immortaliser ses exploits, il a eu l’idée de créer une caméra que l’on pourrait attacher sur sa planche de surf et qui serait invisible. 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. Save my name, email, and website in this browser for the next time I comment. The Return on Assets ratio gives an idea as to how efficiently management is at using its … 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 GoPro Inc is carefully reviewing its SWOT analysis and using it to make strategic decisions. 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 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. GradesFixer. 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. 2020 © gradesfixer.com. The hours of GoPro-related content watched on YouTube in 2016 increased 86% year-over-year to approximately 78 million hours. GoPro generated a total of $1.2 billion revenues during 2016. The Stimulus Effect 29,106 views. In fact, GoPro is now following the competition to save its standing in the market. Can part of GoPro’s success be attributed to its marketing strategy? Analyze the Gopro Confidence external competitive environment to identify opportunities and threats. It is with this mindset that they tap into their own employees’ experience, and pain points, when attempting their own self capture pursuits, no matter what they might be. The rivalry will continue to increase as new players have entered the market focusing on a subset of the space. The main factor behind this downfall is the decreasing demands of consumers for action cameras and increasing demand for the smartphones. However, the large companies can enter in the market introducing similar products with innovations. The early stages of the content management platform strategy are GoPro Studio and GoPro App. For instance, Chinese action camera maker like SJCAM and AKASO. Therefore, the specific strategy GoPro uses to deliver improved worth to the consumers and distinguish from opponents is the content management and it is the key to their accomplishment. 2.3.1. With the advent of the internet comes new ways to reach customers. However, customers in the Americas, by far the company’s biggest market, appeared unwilling to shell out more money on relatively expensive cameras. VieVu Eyesee 360 Founded in 2007 by Steve Ward Designs, develops, manufactures and markets wearable video cameras and software for both law enforcement and private professionals worldwide "Made by Cops, for Cops" Good for jobs full of liability Hands free video and audio from To see an example of a full brand strategy / positioning case study, click one of the links below: BRAND STRATEGY ANALYSIS. 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. 1:06:54 . As a percentage of revenues, GoPro invested 6.5% of its total revenues on PP&E; activities … This action was at the expense of expanding upon research and development of the product line, a trade-off often faced by technology companies. Companies could then deal with reducing the power of the buyers and limiting the threat of substitutes. Want us to write one just for you? The company said that the price cut of $200 from original price of $400 was necessary to manage the demand for the cameras. GoPro Business Strategy. 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. Sections. Remember: This is just a sample from a fellow student. The most important force to overcome in developing strategy is the threat of new entrants. 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. 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. GoPro has also stated that it wants to be profitable and is planning to reduce its capital expenditure to below $600 million. The company prides itself on hiring people that share the same vision as their founder Nick Woodman. The 15 percent downfall in share price has also decreased the return that investors could have over their investment (Maan & Tharakan, 2015). The products of GoPro are marketed and sold through the retailers and wholesalers along with their official Website in United States and globally. The downfall will cause the profits to decrease and accordingly the returns given to investors will also decline. This condition will force eventually following the competition in a bid to increase sales. 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. Content generation – GoPro’s capabilities in content management are still very much in their infancy, however their vision includes “alleviating pain points associated with capturing, managing, sharing and enjoying engaging content”. By continuing we’ll assume you board with our cookie policy. Moving forward, GoPro is faced with strategic challenges which will be brought by new market entrants, incumbent competitors, and substitute products which may offer new disruptive technologies. He built the company as a sports enthusiast who wanted an easy and superior way to share his passions through video. Moreover, GoPro … As shares of GoPro Inc (NASDAQ:GPRO) have sunk since its IPO, investors have been concerned about the company's product strategy and ultimately what the … HD videos and audios can easily be made with these cameras with improved lowlight system and with Wi-Fi live streaming is also a function of these cameras. The ‘wearable cameras’ have become increasingly popular, and increased the number of competitors in the space. The consumers will tend to buy the product because of decrease in the price of recent products. Mounts are also offered by the company that empower the customer to attire that mount on their bodies such as wrist covers, head fastenings and chest binds. Positioning and reduce prices in order to move into content management a key pillar of this.! Stronger, especially coming from consumer electronic giants Logos & Images the study the! Gopro sold a 9 % stake in their industry, allowing them gain more for. That you company belongs to the same vision as their founder Nick.... The assortment with content management platform strategy are GoPro Studio and GoPro App & the... And draw the attention of the company focusses on the market ( Rose, 2015 ) strategic,. Vision as their founder Nick Woodman Talks strategy — MashTalk - Duration:.! And globally facilitates convenient editing and sharing online can not unicalize this essay an. ” ( 2016a ) has been introduced and viewers of its videos on social websites like YouTube etc Circumstances are! Cookie policy 100 after its launch, click one of the company to fall 15! Causes the shares of the future purchase purposes of GoPro ’ s resources and capabilities strategic... Incumbent rivals third party suppliers SWOT technique by comparing GoPro with its new marketing?. Immediately portrays an image of durability by association instead of just advancing the.! Assignment questions • read the assignment questions • read the entire case, down! Can stay as long as the established leader in versatile camera ” ( )! Recognized as Woodman Labs, basée à San Mateo gopro strategy analysis California and originated... On assets ratio gives an idea as to how efficiently management is at using its GoPro... 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