They are the very first and most well known action camera company in the world

They are the very first and most well known action

This preview shows page 5 - 7 out of 8 pages.

themselves, GoPro really does not need to promote themselves as an action oriented company. They are the very first and most well known action camera company in the world. They need to shift their focus on promoting the “action sports” lifestyle that comes with product and start shifting on more of the features. Consumers already understand the company's culture and now desire a ad with more substance. As tech becomes more advanced and mainstream, our action
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oriented generation requires more information about the feature and tech. GoPro should ideally shift their focuses on promoting the brand and start focusing on improving their tech. Possibly shutting or down scaling their GoPro Network and making their number one priority to improve the quality and technology in their product. Strategy Two: Remain/Become Competitive with CompetitorsOur second suggestion for GoPro is start to become competitive. For a number of years, GoPro was the sole option for a first person camera that shot high-quality action videos and pictures. However, as technology has advanced over the past decade or so, many of the features seen dated to their target market; the “millennial”. Many cell phone and smart phone cameras currently have the same picture quality as a GoPro. A staggering 64% of americans own a smartphone of some kind indicating that almost everyone has access and are able to shoot video and photo at any given point of their day. Drones, a new budding form of tech, also offer an exciting new way to capture visuals from an aerial perspective. While a slightly different market,this is yet another option one could consider when considering capturing action videos and photos. Finally, competitors that essentially offer the same product as GoPro are selling cheaper and comparably as good quality of cameras. Strategy two essentially intertwines with strategy one; GoPro needs to remain and work to become competitive again. The best way to do this is offer new and exciting tech in their products, which ties back with strategy one. Strategy two, staying competitive, can only happen if they work to lower their prices on existing cameras and potentially discontinuing unpopular lines of cameras. GoPro needs a revamp, and should attempt to hop on to the “tech bandwagon”. This would help them gain back some of the market share among millennials that this product is geared towards. As of now their are too many other options in terms of a camera to shoot action shots, GoPro needs to create a new and exciting innovative product to help their company compete in the saturated market of tech.ConclusionGoPro still has potential to be a budding technology company. After examining GoPro: externally, internally, strategically and taking a look at their problems: we feel that GoPro still has potential to be a budding technology company. GoPro has a lot of market power due to beingthe first of its kind and a household name. GoPro is often the first brand that comes to a consumer's mind when thinking of this niche market of action sports cameras. We believe if GoPro reexamines their strategy they will remain a successful company for years to come.
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