Assignment - GoPro-2.pdf - Submitted by: Fatima Malik...

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Submitted by:Fatima MalikStudent ID:51128419Submitted 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 theaction in high definition. Idea itself was prompted by a thought during a Surfingexcursion by the company’s CEO."I'm convinced that about half of what separates successful entrepreneurs fromthe non-successful ones is pure perseverance." – Steve JobsAs per Scott A. Shane (2008), business failure rate of entrepreneurial endeavorsis as high as 70% - and off those which succeed, most startups gain momentumwith a change in strategy and an initial loss. Similar was the fate of GoProwhose CEO came up with an idea of having cameras that could recordadventure thrills though there were cameras available in the market that had theability to take shots but none was available that was small, handy, andwaterproof and comes with a mount for attaching it to any rugged surface.Camera technology second to none was present in the market but GoPro’ssuccess did not owe purely to technological innovation. It was the idea thatbecame the reason of success. The effortlessness and style, which helpedcapture 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 bythe young, energetic, and thrill-seeking individuals especially in the USA andexpanding to Europe.GoPro gives adventure enthusiasts the opportunity to capture events of theiraction in their small cameras. They provide housing that protects it from ruggedenvironments for terrains that attract sporting activities like rock climbing,cycling, and running. They are water resistant for people who enjoy water sportslike swimming, surfing etc.A camera that could capture events live was the value that GoPro capitalizedupon responding to a market that existed. With the access of social media likeFacebook, Twitter, YouTube, Flicker or other video/photo sharing social mediaplatforms people share life happenings with friend and family with only a click ofa button. Catchy social profiles attract people from round the world theirexperiences and reviews draws enthusiasts to own a GoPro of their own.GoPro responded to a market by offering simplified video recording, editing, andsharing experience.

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Term
Fall
Professor
N/A
Tags
Management, Digital camera, Digital single lens reflex camera

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