Submitted by: Fatima Malik Student ID:51128419 Submitted on:September 29, 2015
2[CASE STUDY # 1 – GOPRO]1. What customer value does GoPro provide? Did they create, or respond to the market? GoPro came up with a unique idea of filming live events of action during the action in high definition. Idea itself was prompted by a thought during a Surfing excursion by the company’s CEO. "I'm convinced that about half of what separates successful entrepreneurs from the non-successful ones is pure perseverance." – Steve Jobs As per Scott A. Shane (2008), business failure rate of entrepreneurial endeavors is as high as 70% - and off those which succeed, most startups gain momentum with a change in strategy and an initial loss. Similar was the fate of GoPro whose CEO came up with an idea of having cameras that could record adventure thrills though there were cameras available in the market that had the ability to take shots but none was available that was small, handy, and waterproof and comes with a mount for attaching it to any rugged surface. Camera technology second to none was present in the market but GoPro’s success did not owe purely to technological innovation. It was the idea that became the reason of success. The effortlessness and style, which helped capture and share moments of sporting adventures with family and friends. GoPro succeeded in not creating a brand but a trend. A trend that is followed by the young, energetic, and thrill-seeking individuals especially in the USA and expanding to Europe. GoPro gives adventure enthusiasts the opportunity to capture events of their action in their small cameras. They provide housing that protects it from rugged environments for terrains that attract sporting activities like rock climbing, cycling, and running. They are water resistant for people who enjoy water sports like swimming, surfing etc. A camera that could capture events live was the value that GoPro capitalized upon responding to a market that existed. With the access of social media like Facebook, Twitter, YouTube, Flicker or other video/photo sharing social media platforms people share life happenings with friend and family with only a click of a button. Catchy social profiles attract people from round the world their experiences and reviews draws enthusiasts to own a GoPro of their own. GoPro responded to a market by offering simplified video recording, editing, and sharing experience.
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