Executive Summary This case study will provide strategic information on the San Mateo, California company: GoPro, Inc. As a percentage of revenues, GoPro invested 15.2% of its total revenues on intangible assets during 2016. In the last two decades, women have been built to conform to what society wants them to be. Smartphone technology is becoming more of a competitor. Limitations of SWOT Analysis for GoPro, Inc. The case analysis should also include an introduction and a conclusion. (SGB Media). This is one of the major limitations of SWOT analysis. For example in United States Texas and Florida have different liability clauses in case of mishaps or environmental disaster. 2. Well before the introduction of its Karma Drone, GoPRO conducted a thorough environmental scan and discovered a substantial increase in the number of consumers engaging in aerial drone photography. Marketing in a Digital World is one of the most popular courses on Coursera with over 500,000 learners and is rated by Class Central as one of . GoPro reported revenue growth of -26.8% year-over-year during 2016. (2017). 1. As the established leader in versatile camera equipment for extreme sports, GoPro has established its unique position. . Some societies encourage entrepreneurship while some dont. 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 tomorrows generation today. Retrieved 6 June 2017, from http://expresscolour.sg/4-lessons-from-gopro-about-creating-a-strong-brand-image/, Are You A Hero? When it came to positioning their cameras, it was not hard for GoPro as they implemented the usage of smart marketing strategy to assist in doing so. You can get your custom paper by one of our expert writers. Offline connection: Recognizing the . Apples iPhone 11 features a camera capable of shooting video footage in 4k High Definition, with a 12-megapixel, wide-angle camera capable of slow-motion footage. The major success in GoPro's content marketing strategy is the way it so naturally and effortlessly marries its content to its product. 5. Answer the following questions: 1. In most cases, GoPro has focused on creating a product that will allow people to obtain their armature, personal and professional experiences in a manner that is versatile and unique. GoPro has become synonymous with high-action, extreme sports. The modern GoPro camera is quite decent and this makes it more recommendable than the Nikon or Canon DSLR action cameras. There are many camera manufacturers out there, with their speciality for the market share competition. 808 certified writers online. 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). Diversification into smartphones offers the company an easy expansion route. Starting just $19. Both components should be scrutinized to identify factors influencing organizations and guiding decision-making. Brand born out of massive user generated content. (Shorty Awards LLC). Our professional writers can rewrite it and get you a unique paper. Hoboken: Taylor and Francis. (adsbygoogle = window.adsbygoogle || []).push({}); The Macro environment factors such as inflation rate, savings rate, interest rate, foreign exchange rate and economic cycle determine the aggregate demand and aggregate investment in an economy. (Cision US Inc.). Entrepreneurship(1st ed.). Marketing Strategy Of GoPro Inc GoPro Inc Case Solution Ansoff Matrix of GoPro Inc . Furthermore, its watermarking from editing software ensured the presence of the brand across amateur users as well. The R&D; spending numbers are for the fiscal year ending in December. GoPro invested a total of $205 million on accounts payable during 2016. Stage 2: The Matching Stage Grand Strategy Matrix 4. One of the competitive advantages GoPro has its competitors lack brand loyalty. GoPro (GPRO) is the front runner in the case of market share of i.e. 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. It is reported that 54% of the action camera owners own the cameras of GoPro, Inc. Are you interested in getting a customized paper? Exclusive partnership with sports brands for co-branding. (Statista). GoPro invested a total of $180 million on Intangible assets during 2016. GoPro shipped more than 2.8 million units in 2020. . GoPro's aggressive marketing and social media strategy accompanied by constant innovation has made the company a great success by putting it in the right place at the right time. It was the first company to bring first-person perspective and POV action to viewers across the globe with its near-indestructible mini cameras. Just like Jacuzzi, Hoover and Tupperware, the cameras brand name (GoPro) is synonymous with the gadget it facilitated popularize. GoPro generated a total of $1.2 billion revenues during 2016. Executive Summary This case study will provide strategic information on the San Mateo, California company: GoPro, Inc. Available from: https://gradesfixer.com/free-essay-examples/the-gopro-brand-analysis/. He was motivated by a surfing trip in 2002 in Australia where he was hoping to capture quality action photos but could not do it because some of the photographers could not get close enough to take the shot or buy higher quality equipment at reasonable prices. GoPro marketing strategy was a success and recognized by the entire world as they recorded high profits. GoPro is the name that became synonymous with high-action, extreme sports. The accounts receivable numbers are for the fiscal year ending in December. GoPro is still controlled by its founder, Nick Woodman. GoPro generated a total of $1.2 billion in revenues during 2016. This framework can be used by any professional aspiring to take up a leadership role to better understand the businesss challenges, articulate growth strategy, and monitor the business improvement requirements for the organization. Certain capabilities or factors of an organization can be both a strength and weakness at the same time. The wearable cameras have become increasingly popular, and increased the number of competitors in the space. 1. GET BEST GRADES. The company was the first to bring first-person perspective and point-of-view action to viewers worldwide with their near-indestructible little cameras. GoPro invested a total of $167.2 million on inventories during 2016. However, this isnt a sustainable strategy as GoPro has to continue improving their every move while continuously innovate their product. 3. In-depth business analysis is a valuable resource to identify and articulate the need for a business model change. By integrating Yotpo into their online platform, GoPro was able to build a customer community and reach an entirely new online audience with the incredible amount of reviews they were able to generate. A firm should not only do technological analysis of the industry but also the speed at which technology disrupts that industry. GoPro has been able to grow its sales and popularity as years pass safeguarding its future (Kinsley, 2016). The purpose of this paper is to provide an in-depth, formal case analysis that utilizes the . GoPro was less profitable than the industry during 2016. There is also a more improved WI-FI radio inside the camera that triples the transfer speeds unlike the last generation Hero so you can transfer images/videos in and out more quickly. The strategy will ensure that clients' perception of this new product in shaped in a way that will benefit it. The price of Gopro product is well known for high price compare to other competitors. GoPro, a video camera brand that wants everyone to capture every moment of life, and inspire others to do the same. The brand name Adidas came about by combining elements of the founders name Adi Dassler. To be in a position of achieving this, GoPro ensures that their cameras are affordable, attainable and at the same time adaptable. Abportal.blogspot.com. The market for these cameras is still in its nascent stage and is gaining a lot of popularity through media, advertising and social networks. Content generation GoPros 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. GoPro, as one of the best . As GoPro has positioned itself as a premium brand, it has all but neglected the more cost-conscious consumer base. GoPro invested a total of $164.6 million on accounts receivable during 2016. Similarly a lot of European countries give healthy tax breaks to companies that operate in the renewable sector. As a percentage of sales and without taking into account depreciation and amortization, the company has relatively low margins. Before GoPro, there never existed a wearable sports camera that could be mounted on almost anything. A huge part of developing a strategic plan is a reliable, in-depth strategic analysis. GoPro has not addressed Asian, European, and African markets. With this in mind, GoPro design their cameras as durable, lightweight and can be worn or mounted with ease. Read this report to know the top competitors of Mitel Networks and identify growth and cost optimization opportunities of Mitel Networks, Black Box Corp with $913 million revenues in the year 2016 was the number 13 Networking Equipment and Services company. 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. Although online sales have picked up recently, it should focus more on these channels. (Are You A Hero? Ever since it was founded, GoPro has majorly focused on product specialization to help them meet their audience needs. From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors, GoPro SWOT Analysis for 2021: 24 Big Strengths and Weaknesses, Fitbit SWOT Analysis for 2021: 25 Biggest Strengths, BMW SWOT Analysis Matrix: Opportunities and Weaknesses, "From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors. The most conspicuous and outstanding feature of the GoPro cameras is the fact that they are the first compact and extremely high quality HD cameras ever produced. GoPro products are cheaper, waterproof, provide highly quality videos and are shockproof. Anti-trust law in Photographic Equipment & Supplies industry and overall in the country. Because of their companys connection with its customers on so many social media platforms like YouTube, Facebook, etc. Students who find writing to be a difficult task. Its unique features have led to the emergence of imitations and clones. This report provides the last five years Accounts Payable (A/P) analysis of GoPro, Inc. (GPRO) from 2012 to 2016. When compared to what the market competitors offered, GoPro was able to capture a large fan base. Ask an Expert. Journal Of Access Services, 13(1), 7-23. The achieve success in such a dynamic Photographic Equipment & Supplies industry across various countries is to diversify the systematic risks of political environment. GoPro. The main focus of the company is on livestock products in addition with water and breakfast cereal products. The Networking Equipment and Services industry net profit margin was 14.4% during 2016. Class structure, hierarchy and power structure in the society. 12 Pages. Every investor wants to achieve success, but unfortunately, not everyone knows how. 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. Their competitors, on the other hand, were focusing on the traditional mass market strategy in the electronic market. This is the case scenario with the Apples iPhones which tend to be more costly as compared to their android rivals since Apple can get away with the fact that Apple Brand is premium. However, the company has some disadvantages since some other competitors try to imitate the feature-loaded devices and sell their product with lower price. ", Alibaba SWOT Analysis for 2021: 24 Key Strengths and Weaknesses, 100 Best Side Hustles for Teens to Make Money, 10 Proven Psychological Pricing Strategies with Examples, 100 Office Etiquette Rules You Need to Know. They can impact individual firms competitive advantage or overall profitability levels of the Consumer Goods industry. The dominant strategy 9 will enable GoPro to achieve success in a highly competitive market environment. GoPro's marketing strategy: GoPro marketing strategy is quite unique because the way they do their ads have one thing in common: they were all make from User Generated Content. The GoPro brand is synonymous with action cameras as the Nick Woodman-led company essentially created this market by launching the first commercially available action camera back in 2002. There is increased competition for GoPros brick-and-mortar distribution model. Infrastructure quality in Photographic Equipment & Supplies industry. In 2004, the company sold its first camera, which uses 35 mm film. 1. 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. This has left little opportunity for the third-party manufacturers to create products that complement GoPros capabilities. This report provides the last five years research and development (R&D;) expenses of GoPro, Inc. (GPRO) from 2012 to 2016. With GoPros existing offerings, it should be straightforward to compete in this world. gopro.com's traffic has increased by 3.78% compared to last month (Desktop). Strong marketing strategies ensure a strong brand image. By creating a product that can connect with their consumers, GoPro has gained not only popularity but also profits. Cheaper competitors challenge GoPros market position. 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. The only downside to this product is the pricing which is around SGD$700 but for that price, everything else is good. Although its a good start (albeit a bit late), the company needs to expand on it. Let's fix your grades together! He built the company as a sports enthusiast who wanted an easy and superior way to share his passions through video. (adsbygoogle = window.adsbygoogle || []).push({}); PESTEL analysis provides great detail about operating challenges GoPro, Inc. will face in prevalent macro environment other than competitive forces. Try Cascade, the #1 Strategy Execution platform. GoPro is an American company founded in 2002 by Nick Woodman. Order Now - GoPro, Inc. PESTEL / PEST Analysis, Order Now - GoPro, Inc. Porter 5 Forces Analysis & Industry Analysis, GoPro, Inc. PESTEL and Environment Analysis, Foxconn Technology Group (B) case study solution, SkillsForTomorrow: A Management Team in Crisis case study solution, Taiwan's United Microelectronics Corp. (UMC) case study solution, Graphic Packaging Holding Company PESTEL & Environment Analysis, Canada Goose Holdings Inc. PESTEL & Environment Analysis, Gentex Corporation PESTEL & Environment Analysis, General Motors Company PESTEL & Environment Analysis, P. H. Glatfelter Company PESTEL & Environment Analysis, The Goodyear Tire & Rubber Company PESTEL & Environment Analysis, Hasbro, Inc. PESTEL & Environment Analysis, Hanesbrands Inc. PESTEL & Environment Analysis, Helen of Troy Limited PESTEL & Environment Analysis, Herbalife Ltd. PESTEL & Environment Analysis. As its primary function is to capture excellent footage in a wide range of environments and circumstances, GoPro has ensured that the quality of its camera sensors is top of the range. With its battery life staying for 2 to 3 hours depending on the rate of use, the camera can capture pictures with its 12MP sensors (Vannini & Stewart, 2017). However, GoPro has historically focused its sales channel on brick-and-mortar sales and neglected its online presence. Buy Professional PPT templates to impress your boss. Furthermore, its watermarking from editing software ensured the presence of the brand across amateur users as well. Please include original exhibits and carts as necessary to support your analysis. Order Now . GOPRO INC 2017: Failing With Initial Strategy or Just Poor Execution? This report provides the last five years inventory spending analysis of GoPro, Inc. (GPRO) from 2012 to 2016. Choose your writer among 300 professionals! The GoPro net profit margin was -35.3% during 2016. for only $11.00 $9.35/page. Vannini, P., & Stewart, L. (2017). Using social media, GoPro demonstrates product value and quality. Moreover, the dynamic analysis of this model can reveal important information. There is no significant factor for politic and economic in this sector, However for the social factors it make this company business . GoPro invested a total of $180 million on Intangible assets during 2016. With declining sales, and vulnerability from competitors, as well as new technology, GoPro has its work cut out for it. This strategy entailed introducing wearable sports camera to the sports enthusiasts who aspire to capture every memorable instance with high quality. Labor costs and productivity in the economy, Business cycle stage (e.g. The purpose of a strategic analysis is to analyze an organization's external and internal environment, assess current strategies, and generate and evaluate the most successful strategic alternatives. If they dont do this, other firms will better in time and undertake GoPro in the future. 1.6.5 Post-Strategies of COVID-19. With the help of value proposition, GoPro was able to establish a firm brand loyalty while still capturing a significant market presence. Nobody get fired for buying our Business Reports Templates. This is the most strategic decision since GoPro already has established a presence on social media while users have gotten used to its current battery . 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. 9.4 Market profitability analysis for developing Marketing Strategy of GoPro Inc As a percentage of revenues, GoPro invested 17.3% of its total revenues on accounts payable activities during 2016. The top-10 companies in the US Networking Equipment and Services industry by revenues during 2016 were: We use the following framework to assess the business model of a company. GoPros company sells the idea of personal heroism. From robust Action Cameras capable of submersion in water and being thrown down a rocky cliff, or capturing the first-person view of a building demolition from the rooftop, to high-tech drone equipment and image stabilizing gear, GoPros hardware range is extensive. - Leading Creative Strategy, Research & Analysis, Creative . Starting from the workplace with cute dresses and subtle makeup, to the house with cooking, [], Marketing has been described by many businessmen and experts as the backbone of any business activity or idea. Read this report to know the top competitors of Black Box and identify growth and cost optimization opportunities of Black Box. This connection via its user-centered marketing strategy and a product which has a compact design, easy to bring around everywhere you go, is customizable and it is user-friendly is what makes GoPro to be one of the most successful camera companies in the history. GoPro For A Cause has reached 66 million people worldwide. Success for GoPro did not come immediately and the charismatic creator of the company, Nicholas Woodman . 6. Actions include a $100 million reduction to 2020 operating expenses including a workforce . Related diversification Drone cameras 360 GoPro 1. It is because this segment will continue attract more entrant increasing the risk for profitably to the company. The report has also provided a detailed analysis of the implementation strategy, especially marketing approaches that will . This report provides the last five years cost of sales (COGS) analysis of GoPro, Inc. (GPRO) from 2012 to 2016. This report provides the last five years sales, marketing, general & administrative (SG&A;) expenses of GoPro, Inc. (GPRO) from 2012 to 2016. Being sold in these extreme sport stores immediately portrays an image of durability by association. Through this, the videos captured are of high quality and also clear. 3. With an expected P/E ratio at 56.35 and 17.16 respectively for both the current and next fiscal years, the company operates with high earnings multiples. He was an absolute wonderful writer and had a great amount of patience with me as well as following all directions very accordingly. Discuss Nicholas Woodman's role in making GoPro a market leader. GoPros immersive editing software and virtual reality capabilities offer the company the chance to compete in the Gaming Industry. The SWOT analysis for GoPro is presented below in a matrix followed by the detailed analysis report. GoPro generated a total of $1.2 billion revenues during 2016. Buyers Currently GoPro is the leading brand in a nascent industry, allowing them gain more profit for their action cameras. This bolsters the companys cash flow, which is vital for research and development. Open Document. The market for this industry is highly competitive. Altogether, the strategic analysis of GoPro shows that the brand enjoys a stable position in the market. GoPro generated a total of $1.2 billion revenues during 2016. (Barber, Kristen, 2017) The commercial intended to catch men's consideration through ladies. Loyalty to the nation is also a critical aspect of Army leadership, and soldiers are expected to support and defend the Constitution of the United States and obey orders given. (2017). An industry consists of companies with related/similar business models. This patent gauge gives a good indication of a companys research and development department. 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. Don't use plagiarized sources. The GoPro brand is synonymous with action cameras as the Nick Woodman-led company essentially created this market by launching the first commercially available action camera back in 2002. 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