This means that the camera will be able to create stunning slow motion videos

This means that the camera will be able to create

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This means that the camera will be able to create stunning slow-motion videos and overall better performance which leads to better video quality (“GoPro Competitors,” n.d.). Not only will the image and video quality be improved but the camera will be designed to mount accessories like LED lights, microphone and other accessories for improved recording quality (Fisher, 2018). Compared to other cameras, GoPro’s productsare smaller, lightweight and waterproof which creates more opportunities for customers to capture top-quality photos and videos (“GoPro,” n.d.).GoPro software capability allows the brand to differentiate from other brands and charge a premium price for the product (Fisher, 2018). Video stabilization is important with action cameras because the user is recording on the move (“GoPro Competitors,” n.d.). GoPro is working to improve the stabilization features by using a more efficient processor which can produce better quality photos and videos (“GoPro Competitors,” n.d.). A weakness of GoPro Hero 7 is the battery life which ranges between an hour and ahalf and 2 hours (Fisher, 2018). This is about the same as other cameras on the market butif GoPro wants to remain as the top brand then the battery life will need to improve for the Hero 8 (“GoPro Competitors,” n.d.). Additionally, sending files from the device through Wi-Fi can be time-consuming but GoPro is working to eliminate this problem through software improvements (Fisher, 2018). Overall, the GoPro Hero 8 is projected to be the best action video camera on the market as GoPro strives to maintain leadership in this industry (“GoPro Competitors,” n.d.).
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Q7Explain the organization’s market classification (leader, challenger, follower, ornicher). Select one and omit the others. JEANThe GoPro Hero product line is the market leader.It is well known that GoPro dominates the market with a majority share of 89% in the United States in the action
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camera category (GoPro, 2019, para 8).On average, In order to maintain its’ position as the market leader, GoPro must continue to expand its market through new consumer acquisition, product innovation, and continue to evaluate the market. GoPro invests approximately $160 million a year in research and development (GoPro, 2019, Table 1).GoPro is not classified as a market challenger, follower, or nicher. GoPro’s marketchallengers entered the market after they did and aggressively challenge GoPro through product price points and technology (Kotler & Keller, 2016). Some of the challengers in GoPro’s action camera market are DJI Osmo, Sony, and Akaso.Many of the market followers of GoPro use imitation as a means to maintain its market share (Kotler & Keller, 2016). Market followers take advantage of the opportunityto target specific consumers within the market.
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