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New 4 Ps – People, Processes, Programs, PerformancePeople. Kotler and Keller (2012) describe the people of the 4 Ps as “internal marketing and the fact that employees are critical to marketing success. Marketing will only be as good as the people inside the organization” (p 25). The people of the GoPro camera made a vision become a reality and helped to market the product line to consumers. One of the main people
MMGP – BACKGROUND7that helped to elevate GoPro to its current level is the Company’s Vice President of Marketing, Paul Crandell. He helped tap into the action-camera market and GoPro has around half of the market. “GoPro is more ‘now’ than any company in its category- the Red Bull of video equipment if you will. That the band has undergone this transformation is testament to a truly impressive product, and an equally impressive marketing chief” (Heine, 2014).Processes. Kotler and Keller (2012) describe the processes of the new 4 Ps that it “reflects all the creativity, discipline, and structure brought to marketing management. Marketersmust avoid ad hoc planning and decision making and ensure that state-of-the-art marketing ideas and concepts play an appropriate role in all they do” (p. 25). GoPro uses the Internet and their YouTube channel to boost their presence on the Internet. They currently have more than two million subscribers to their channel, and that does not include the users who just watch their videos. They also have over 7.6 million Facebook fans. The marketing team has ensured that they involve consumers by engaging them on social media and the Internet. They make their videos available to a generation that is constantly on the go. Their marketing ploy helps make the videos available to everyone, everywhere, just as their cameras can be used by everyone, everywhere. Programs. Kotler and Keller (2012) say programs, from the new 4 Ps, reflect “all the firm’s consumer-directed activities” (p. 25). GoPro’s marketing approach is very simple – user-generated content. By handing their wearable camera to an athlete and letting them generate “advertising and marketing gold,” they have been able to more than double their revenue in the past four years twice while spending less than 0.2% of the increase in revenue in marketing costs(Bobowski, 2014). In addition, regular users have been more than happy to post their videos on
MMGP – BACKGROUND8YouTube and social media creating even more of a buzz at no additional cost to the company. The simplicity of the program is genius - instead of spending the company’s hard earned money to promote the device, let the end user do it for them. Performance. Performance of the new 4 Ps is looking at how well a product is doing from a financial and non-financial standpoint. This includes checking the impact on the businessand society that the product has had (Kotler & Keller, 2012). The GoPro brand has become increasingly popular with consumers since they are able to use it in almost every way possible.