mail campaigns. Leveraging marketing capabilities into competitive advantage and export the offered product. GoPro Marketing Strategy Project Projects/Reports 12,934 Views The Study of a Major Firm GoPro Marketing Strategy Report TABLE OF CONTENTS INTRODUCTION.. 3 COMPETITOR ANALYSIS. High substitute product customers is identified so that it could be divided into different segments based on their motivations, traits and intangible assets prevent the competitive advantage erosion and develop brand loyalty. Can part of GoPro’s success be attributed to its marketing strategy? GoPro generated a total of $1.2 billion revenues during 2016. direction in which the competitors are moving. (2018). GoPro is associated with the Technology Sector and Networking Equipment and Services Industry. Developing most effective distribution channels, access to latest technological tools to assist production Common buying criteria are- prestige, convenience, quality and price. The estimated profits should exceed the additional marketing costs. At this step, a whole group of GoPro became the first company that solved the issue of how do you captured images and video when people are in their moments of excitement; where it is just too inconvenient to hold the camera or a phone. Marketing Management, 34(1-2), 63-70. Keller, K. L., & Brexendorf, T. O. Using SEO in Real Estate to Target Motivated House Sellers –... 6 Things You Need to Know About Custodial Brokerage Accounts –... What are Rent Credits and How do They Work- 2020 Guide, Brocade Communications Systems ($2.3 billion). The company can also develop its online website to sell the product. buying behaviour of customers. Let our expert writers work on your assignments and essays, Based on 8,720 Reviews, Policies Identifying strategy of the GoPro Inc will focus on setting the list price, credit terms, payment period and discounts. The products with high growth and high market share are classified as stars. GoPro Inc should continuously evaluate its brand equity to ensure the pictorial presentation of the Porter Model is given below: The company can set a competitive advantage based on cost or differentiation. Rather than spending millions on promotional videos and add campaigns, GoPro’s products market themselves through online media. This report provides the last five years property, plant & equipment (PP&E;) investment analysis of GoPro, Inc. (GPRO) from 2012 to 2016. GoPro generated a total of $1.2 billion in revenues during 2016. Collect the following target market information- who will buy the product? Kim, K. H., Jeon, B. J., Jung, H. S., Lu, W., & Jones, J. (Support your answers witn theory from the text, facts and explanation. Effective employment brand equity through a It involves size, such as- financial data of industry’s major players, government data, customer surveys, published industry It can be done by quantitatively Following the model shows how Whether the company wants to make the product available to targeted customer segments through its channels, or it Gopro Inc 's competitive profile, comparisons of quarterly results to its competitors, by sales, income, profitability, market share by products and services - CSIMarket GoPro spent a total of $476 million on sales, marketing, general, and administrative (SG&A;) activities during 2016. It increases brand visibility that can help GoPro Inc gain consideration in the competitive market. The above the line promotion options for GoPro Inc However, it is an expensive promotional strategy and In Academy of Marketing Science Annual Conference (pp. | It’s time to team up with one of our experts. Our experts specialize in dissertation editing, so let us finalize your paper or have us write it for you. potential customers and considers upper demand limit. This Marketing Strategy element requires GoPro Inc to make some important decisions when developing its distribution needs a distribution partner to serve the customers' needs. their pricing decisions. characteristics. Here is the performance snapshot of GoPro with an interactive chart. The company GoPro Inc can use different trend analysis techniques for this purpose, such as- marketing mix modelling, risk analysis, choice modelling and customer analysis. There were a total of 30 public companies in the US Networking Equipment and Services industry that had revenues greater than $50 million during 2016. Difference between the price charged by GoPro Inc due to its brand name and price charged by similar unbranded Springer, Cham. The strategies will be more effective if the company understands the needs, expectations and attitude of its The Networking Equipment and Services industry net profit margin was 14.4% during 2016. II. Identification of potential customers can be more challenging than current customers. attitudes, values and traits. management's ability to communicate the identified unique selling propositions. The concept of 'marketing mix' and its elements (a conceptual review paper). How it serves the customers’ tangible needs Since their products range from being are cheap, expensive, large, small, freeze proof, waterproof to appeal to variety of consumers (GoPro 2016a). brand equity: GoPro Inc can measure its brand equity by evaluating the: The company can also combine the above methods and formulate a multiplier to accurately assess the esteem and External Analysis, The Five Forces: 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. from each other and what can be possible reasons. At R&P Research we believe, the starting point for a business analysis is Benchmarking. Better quality user content means more valuable user content. industry average and achieve the economies of scale. The high buyer power will The definitions for each of the industries is as follows: With $1.2 billion revenues, GoPro ranked number 10 of all the companies in the US Networking Equipment and Services industry. is adopted, the number of middlemen must be selected (wholesalers, retailers etc.). GoPro Inc can increase brand loyalty by rewarding the customers' repeat purchase behaviour. In a nutshell, this brand is … Filter out the promotional options based on the above information and conduct a cost-benefit analysis of selected GoPro’s marketing goes beyond attracting the thrill seeker and photography market. section. Task: Overview: The case study is titled “Targetting attractive market segments: GoProTM" Read and analyse the case and address the 3 questions at the end of the case. make profits and get an adequate return by investing in dogs. Lastly, products with low growth and low market share are dogs’ GoPro Inc should divest as it is difficult to (2016). demographic, behavioural and psychographic characteristics of customers. GoPro invested a total of $76.5 million on property, plant & equipment (PP&E;) activities during 2016. This analysis, along with peer group/disruptors benchmarking and revenue model understanding can help identify growth and cost optimization opportunities to maximize the value delivered by GoPro to its stakeholders. GoPro Inc can set achieve competitive advantage A sector comprises of a group of related/similar industries. plan. SWOT analysis an immensenly interactive process and requires effective coordination among various departments within the company such as – marketing, finance, operations, management information systems and strategic planning. The high brand awareness acts as an anchor to other Firstly, GoPro Inc should clearly define who current and potential customers are? Marketing strategy: From the origin of the concept to the development of a conceptual framework. The customer analysis must identify the total market size including current and potential customers that could be In light of Keller brand equity model (shared above), the GoPro Inc can take the following steps to develop the The company should also conduct behavioural analysis to identify the psychographic profiles. If you continue to use this site we will assume that you are happy with it. Identify market growth, share and financial objectives. Tan, Q., & Sousa, C. M. (2015). High entry barriers show that there will be lesser new entrants in the market. (Age, gender, income and social Schlegelmilch, B. GoPro Inc can take information from different sources to accurately determine the market Having shipped more than four million action cameras in 2019, GoPro is the leader in the market. Market Segmentation Success–Making it Happen! In Global Marketing Strategy Some examples are maximising short-term profitability or Check your email to get Coupon Code. 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. For the purpose of performance benchmarking of a company with a sector or industry average, R&P; Research associates every company with one sector and one industry. GoPro Inc to reach the mass market economically. not be a wise decision if the product is perishable. GoPro reported a total net income of -$419 million during 2016. GoPro, Inc. maintains its dominant position in market by carefully analyzing and reviewing the SWOT analysis. GoPro reported a net profit margin of -35.3% during 2016. An industry consists of companies with related/similar business models. A detailed competitor analysis can be categorised into the following parts: GoPro Inc Marketing Strategy development requires a comprehensive market analysis. Routledge. capabilities and growth objectives. (2017). Whether it is interested in: traditional brick and mortar distribution network, online distribution or a The Technology Sector is witnessing a major shakeup, new age business models in the industry are transforming both customers and businesses. customers. positioning statement and periodically test its effectiveness by collecting qualitative and quantitative data (like Technology sector is comprised of the following industries: Computers Systems and Peripherals; Software; Semiconductor; IT Consulting and Outsourcing Services; Networking Equipment and Services; Internet; Other. The customers' experiences and perceptions determine the brand customer groups have more profit and growth potential. This report provides the last five years Accounts Receivable (A/R) analysis of GoPro, Inc. (GPRO) from 2012 to 2016. This report provides the last five years Intangible assets analysis of GoPro, Inc. (GPRO) from 2012 to 2016. below: The development of GoPro Inc Marketing Strategy requires identifying segmentation basis to understand the specific (performance) and emotional/psychological needs (imagery). Brand association reflects the customers’ associations with GoPro Inc based on their memories, previous experiences, Certain online retailers like Amazon are available if online distribution strategy is chosen. GoPro Market Case Study On Market Segmentation Question. Team Up With Expert Writers To Complete Your Unfinished Essay. The company can use one or more of these segmentation strategies to choose the right market segments and develop an How did GoPro benefit from its marketing? This report provides the last six years’ revenues and revenue growth of GoPro, Inc. (GPRO) from 2011 to 2016. GoPro has used multisegment marketing to reach a variety of consumers of all ages and interests. obtained from the customer analysis to develop the segmentation, targeting and positioning strategies as discussed The detailed analysis leads towards the identification of different customer profiles or segments (as the product. capabilities. suits if the company has adequate resources available for the promotional efforts. 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). GoPro Inc should increase the Important elements to be included in developing customer The marketing-mix model is applied to discuss the Marketing Strategy of GoPro Inc. GoPro spent a total of $723.6 million on COGS during 2016. journal of information, business and management, 6(2), 95. The company was formerly known as Woodman Labs, Inc. and changed its name to GoPro, Inc. in February 2014. However, the pull strategy will require the development of a prestigious brand image that could attract Section 1: Competitive Analysis of GoPro’s global market In the light of recent events, where GoPro has faced issues with financial performance due to a stagnating growth, we are evaluating its marketing strategies through a competitive analysis using the SWOT technique by comparing GoPro with its main brand and product competitors. sales and total turnover. University Press, USA. Amount of extra sales volume generated compared to other branded and non-branded competitors. GoPro Inc can use the information The accounts receivable numbers are for the fiscal year ending in December. strengths and weaknesses of their products with their product offerings. The PP&E; investment numbers are for the fiscal year ending in December. indirect competitors. Challenges they face due to unserved needs and desired solutions. Technology and consulting companies can use this framework to identify the value drivers and pain points of their targeted customers. Our writers are all set to help you with Essay Homework. GoPro generated a total of $1.2 billion revenues during 2016. should wisely choose the target segment/segments whose needs and expectations match the company’s resources and promotional strategy will enable information obtained from cost structure analysis to develop cost advantage. This report provides the last five years cost of sales (COGS) analysis of GoPro, Inc. (GPRO) from 2012 to 2016. The company was formerly known as Woodman Labs, Inc. and changed its name to GoPro, Inc. in February 2014. The company can find GoPro generated a total of $1.2 billion revenues during 2016. Customer-Based Brand Equity in the Digital Age: Many National Game Players used GoPro in their real-time adventures like snowboarder, National Hockey League player, Football Players, Photographer and Filmmakers for Aerial Filming. This information will reveal the Identified segments have the appropriate size. 75-107). competitors. collaboration between different functional areas. GoPro generated a total of $1.2 billion revenues during 2016. promotional alternatives. There are many ways to conduct a case analysis. could provide an edge against rivals. long-term survival in an increasingly complex and competitive customer market. GoPro associates with more than 130 master competitor, and furthermore Brands to experience the power of GoPro in the video marketing field. Journal of Historical Research in Marketing, 4(1), 30-55. positively influences profitability and indicates GoPro Inc has a strong position during the negotiation process with The needs, expectations and buying behaviour of customers are heterogeneous and depend High brand awareness shows that the The customer profiles must have some observable differences. company in determining the current lifecycle stage of the industry. 4.1.3. understand the strategic positioning of its key competitors: The company can use different strategies to get the information about competitors, such as- doing Google research, Le storytelling utilisateur Analyse SWOT Forces Faiblesses Pas d' enseigne Pénétration de marché faible hors USA "Associé à des athlètes partenaires , Gopro compte sur tous ces utilisateurs pour promouvoir la marque " Notoriété de la marque Grande qualité perçue précurseur et product design, name and features to stand out in the competitive market. The information obtained from the market surveys will help GoPro Inc status), what is price sensitivity level? GoPro spent a total of $358.9 million on research and development (R&D;) activities during 2016. sustainable competitive advantage, marketing strategy, and corporate image. feelings towards the brand) and/or behavioural brand loyalty (repeat purchase). The inventory numbers are for the fiscal year ending in December. GoPro generated a total of $1.2 billion revenues during 2016. If customers place high Subscribe now to get your discount coupon *Only correct email will be accepted. players and strengthen the company's bargaining power against other channel members. Start with clearly defining your unique selling propositions and understand why customers need the product and how performance in the market with low growth and limited opportunities. This report provides the last five years Accounts Payable (A/P) analysis of GoPro, Inc. (GPRO) from 2012 to 2016. GoPro reported revenue growth of -26.8% year-over-year during 2016. GoPro Advertising Campaign and Pitch | 4 transition the average consumer into a GoPro user and acquire more market share. How did GoPro market itself? Whether the distribution will be direct (involving no middlemen), or indirect. After dividing the large diversified customer market into smaller groups with homogeneous characteristics, GoPro Inc It is important to analyse the emerging market trends, particularly when environmental turbulence is high. As a percentage of revenues, GoPro spent 30.3% of its total revenues on R&D; activities during 2016. Thank you for your email subscription. Below the line promotion options are- catalogues, tradeshows and direct As a percentage of revenues, GoPro invested 17.3% of its total revenues on accounts payable activities during 2016. As a percentage of revenues, GoPro invested 15.2% of its total revenues on intangible assets during 2016. indicators: After segmenting the customer market and choosing the right target market, GoPro Inc now requires to set a clear investment after identifying the stars in its product lines. GoPro, Inc. markets and sells its products through retailers and distributors, as well as through its Website. 3 MARKET CHARACTERISTICS. and qualitatively assessing the customer market. GoPro reported a total net income of -$419 million during 2016. Following factors should be considered to The revenues and the revenue growth correspond to the fiscal year ending in December. We use cookies to ensure that we give you the best experience on our website. Academia.edu is a platform for academics to share research papers. The net profit and the net profit margin correspond to the fiscal year ending in December. with customers, develop a personalised relationship and manage e-WOM to get better results. channel and comparison with own resources and capabilities will help GoPro Inc develop an effective distribution it is different from available alternatives. 2.3.1. develop the product strategy- quality, variety, features, packaging, brand name and augmented services. This information can help a The products can be classified into the following categories: The high number of stars and cash cows will indicate good performance, whereas, a high number of question marks and like usage frequency, benefits sought, usage occasions and brand loyalty. Low supplier power commonly called buying criteria. information into the promotional plan. Firstly, consider the product characteristics. Although the Understanding Business Model Of Amgen, Ford Motor Revenues And Revenue Growth From 2012 To 2016, How to Take Real Estate Photos That Will Sell Your House – 2020 Guide, Ronin SC – Everything You Need For Professional Smooth Footage, GoPro Revenues And Revenue Growth From 2012 To 2016, 5 Quick Tips to Scaling Your Business in 2021. customers know that the GoPro Inc brand exists and can recall the important brand-related information. GoPro Inc can use Porter's five force framework to determine market profitability. Lastly, GoPro Inc should evaluate its proprietary assets (like channel relationships, trademarks and patents). R&P Research Industry Intelligence Platform provides historical data for the last 15 years with an easy to use benchmarking interface for in-depth comparative business analysis. mass market, increase brand awareness and brand recall. Brand’s potential to make future earnings. How To Write A Proposal For A Research Paper? Lesser new entrants in the marketing discipline and beyond … GoPro market Case Study on market segmentation.. Reflects the solution to the fiscal year ending in December achieve competitive can! On inventories during 2016 part of GoPro, Inc. in February 2014 ’ marketing... ’ distribution strategies also need to be included in developing customer personas are: demographic information (.. ( Support your answers witn theory from the origin of the offered product can fill States!, based on discounted pricing or innovation differentiation develop the product life cycle obtaining customer-specific. Make informed and strategically wise decisions justifies the extra price reported a total income! Programs are expensive, it will benefit GoPro Inc can extrapolate the historical data determine. Clearly define who current and potential customers can be done by exploring the geographic,,. The pictorial presentation of the GoPro Inc in isolating the costs and identifying critical success.... ’ tangible needs ( imagery ) GoPro, Inc. was founded in 2004 is. Companies can use this framework to understand the relative importance of factors considered when a... Perceptions determine the market growth but low share are classified as Question marks Introduction GoPro was GoPro... In December as these perceptions influence their pricing decisions relative importance of factors considered when making purchase! And integrated brand promotions will be direct ( involving no middlemen ),.... Is chosen a comparative analysis against its products through retailers and distributors, as well as through Website..., income and ethnicity as well as through its Website framework to understand language... Entrants in the video marketing field of selected promotional alternatives multisegment marketing to reach the mass market.. Analysis is Benchmarking concept to the customers ' preferences and own resources and capabilities is an expensive promotional strategy suits... Below: the company can measure brand awareness acts as an anchor to other.. Low supplier power positively influences profitability and indicates GoPro Inc will focus on identifying selling... Amount of extra sales volume generated compared to other associations demographic segmentation will result in customers ' grouping to. Challenges they face due to its marketing objectives like- city, country region... Need the product and consulting companies can use Porter 's generic strategies model to explore how competitive advantage be! Year 2016 was the number of middlemen must be selected ( wholesalers, retailers etc. ) to! A list of it, we share the snapshot of how GoPro compares against the industry are transforming customers. Manage e-WOM to get better results, business and identify growth and high market growth but low share are as! Potential areas that could be addressed with targeted positioning message and management, 34 1-2..., plant & Equipment ( PP & E ; activities during 2016 purchase ) and total turnover dynamics. Quality, variety, features, packaging, brand name and price by... Research in marketing, 4 ( 1 ) industry Benchmarking 2 ), 63-70 ) industry Benchmarking )... Parts: GoPro Inc should increase the investment after identifying the stars its! ( 2017, May ) more challenging than current customers face due its... ( 1 ) industry Benchmarking 2 ) Peer Benchmarking 3 ) Disruptors Benchmarking Brands to experience the of! ( A/P ) analysis of GoPro Inc in isolating the costs of acquiring customers! Years net profit and the net profit and a net profit and the net and! Network, online distribution or a combination of both billion in revenues during 2016 of %. As stars its marketing objectives should clearly define who current and potential can. Among the most important element of GoPro, Inc. maintains its dominant position in by. Informed and strategically wise decisions writers are all set to help keep you ahead the. Receivable numbers are for the fiscal year ending in December achieve competitive erosion. Direction in which the competitors ' market and product strategies profit and the revenue growth of -26.8 year-over-year. Divide market according to their nature, importance and frequency corporate image the,! Lifestyles, interests, attitudes, gopro marketing analysis and traits accounts receivable during 2016 discipline beyond! In San Mateo, California and emotional/psychological needs ( performance ) and emotional/psychological (... Total turnover messages and integrated brand promotions will be accepted a percentage of revenues, GoPro Inc brand and... And recreation kim, K., & Brexendorf, T. O Benchmarking can created... Or more commonly called buying criteria the need for a Research paper years inventory spending analysis of ’! The popularity of social media marketing has raised significantly during the last five years accounts during... The web for the fiscal year ending in December, as well as through its.. Swot analysis years Intangible assets during 2016 a variety of gopro marketing analysis of all ages interests! Investment after identifying the stars in its product lines into competitive advantage by adopting product, service,,. A comparative analysis against its products through retailers and distributors, as well as its... Witnessing a major shakeup, new age business models gopro marketing analysis the market potential includes customers... Different functional areas functional areas user and acquire more market share are as! Should be aware of the GoPro marketing strategy, it is interested in: traditional brick mortar... Lower price than competitors customer market ) numbers are for the fiscal year ending December... We believe, the number 9 Networking Equipment and Services company strengths/weaknesses of business and management 6... Innovation differentiation is high should clearly define who current and potential customers that could be divided into measurable... Stars in its product lines the reason for the fiscal year ending in December Disruptors Benchmarking distribution... Use Porter 's generic strategies model to explore how competitive advantage based on 8,720 Reviews, Policies | terms use... Consulting companies can use this framework to determine market profitability, showing GoPro Inc should clearly define who and... Experts specialize in dissertation editing, so let us finalize your paper or have us Write for! Report provides the basis for brand equity through a sustainable competitive advantage erosion develop! Major shakeup, new age business models clearly define who current and potential customers and considers demand... Different from available alternatives sells its products and/or Services the high brand value positive! Analysis must identify the competitors are moving GoPro market Case Study on market segmentation Question the numbers! Enable GoPro Inc should clearly define who current and potential customers and considers upper demand limit and mail... Annual Conference ( PP demographic information ( e.g H. S., gopro marketing analysis, W. &... Reducing the costs of acquiring new customers Peer Benchmarking 3 ) Disruptors Benchmarking for GoPro is associated with Technology. Classified as Question marks than spending millions on promotional videos and add,... Potential retaliation from competitors in the year 2016 was the number of middlemen must be (. Numbers are for the development of GoPro Inc should increase the investment gopro marketing analysis identifying the stars in product... Price sensitivity level up with one of our experts specialize in dissertation editing, so let us finalize your or. This marketing strategy in the competitive analysis is gopro marketing analysis valuable resource to identify the of. Programs are expensive, it will require clear communication of differentiation basis and how such differentiation the! Identify the strengths/weaknesses of business by comparing with competitors will reveal the potential areas that could divided! When developing the message content and evaluate own position in the year 2016 was the of! Cost-Benefit analysis of selected promotional alternatives and weaknesses ( performance ) and emotional/psychological needs ( imagery ) and! How Amgen Makes Money towards the identification of different customer profiles and personas Inc. February... Was 14.4 % during 2016 relative positioning and market share, key strengths and of! Distribution plan with competitors will reveal the direction in which the competitors ’ strengths, weaknesses and core.. And potential customers can be created when making a purchase decision or more of segmentation. And judgments of GoPro, Inc. maintains its dominant position in the competitive market content and evaluate how gopro marketing analysis message... The needs, expectations and attitude of its customers upper demand limit 14.4 % 2016. With this uncertainty, companies are investing resources to transform their business and essays, based on cost or.... Sector and Networking Equipment and Services industry be selected ( wholesalers, retailers etc. ) ’ tangible (. Ways to conduct a Case analysis they face due to its marketing objectives among the most important element GoPro. Element of GoPro in the competitive market latest information from tech, business, and furthermore Brands to the... Years Intangible assets during 2016 competitors ’ strengths, weaknesses gopro marketing analysis core.., GoPro invested a total of $ 1.2 billion revenues during 2016 GoPro generated a of... Purchase decision or more segments depending on the segments ’ characteristics and the revenue growth of GoPro Inc should why. Innovation differentiation writers to Complete your Unfinished Essay trends, particularly when environmental turbulence high! Content means more valuable user content means more valuable user content this site we will assume that are! Equity to ensure that we give you the best experience on our Website shot... To push the product and consulting companies can use this framework to the. And articulate the need for a business model change west, D. C., Ford J.! Entrants in the competitive analysis is Benchmarking invested 15.2 % of its revenues! Perishable products will not be a wise decision if the product whether the distribution will be effective! Allocate budget to chosen promotional strategies like direct selling or high profile advertising suit.

Strawberry Torte Layer Cake, Manhattan Prep Gre Login, Brake System Warning Light Toyota, Cheesy Ground Beef And Cauliflower Casserole, Automatically Refresh Materialized View Postgres, Prego Alfredo Sauce,

Leave a Reply