Marketing Written Report - GoPro Section I The key findings of our paper included the loss of net income in 2015 was the result of the company investing in outside companies to improve their camera quality. This quick decline came on the heels of a record breaking 2014 year that saw GoPro’s highest sales with the release of their GoPro Hero 4. Another notable finding in our paper is the movement in the stock price of GoPro. After the IPO in 2014 the stock shot up to nearly fifty dollars a share with the low that year rounding out at about forty-five dollars a share. In 2015 they saw a somewhat increase in their stock price as GoPro went from fifty dollars to around fifty-three dollars a share as their high and fifty-one being their low for the year of 2015. The year of 2016 was not kind to GoPro and resulted in a sharp decrease of the stock. The cost of the stock plummeted to about ten dollars for the high and low of 2016. This drop off is due to new releases in the smartphone industry. As well as the hyper competition of the smartphone industry caused consumers and investors to rethink their purchase on gopro. They thought why would they pay for a expensive camera when they already have a smartphone in their pocket that has great resolution already. Recommendations for the company include broadening the demographic of GoPro users by dipping into other markets such as American sports rather than just extreme sports which is where the GoPro niche primarily exists. GoPro has actually done worked on this recently by implementing GoPro’s into the NHL by attaching the cameras to the refs to show spectators up close and personal views of the game that would otherwise be impossible to see. Another recommendation would include the worldwide promotion of GoPro to underdeveloped countries. This would have the potential to bring new technology to places that haven’t made it out of being many years behind other developed countries. This is similar to what Facebook plans to initiate soon with solar powered drones that bring the internet to underdeveloped countries. GoPro also could team up with big brands such as Nike and Adidas and their athletes. This could potentially increase sales through new outlets and also result in sponsorships for GoPro and GoPro athletes.
Section II The GoPro was a revolutionary invention that developed into a prosperous company. It was started by Nick Woodman in 2002 with a start up of only 10,000 dollars. The idea came to him when he was surfing and discovered the problem that there was no way to get up-close footage of action sports. GoPro’s original purpose was to solve this problem and capture this exclusive and personal footage. Woodman built and destroyed two companies prior to the development of GoPro, but his previous failure is what gave him the drive and determination to make GoPro a success.The first aspect of a basic camera he decided to enhance was the camera strap. His thought was that in order to
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