Camcorder market has an 8 share of the action camera

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camcorder market, has an 8% share of the action camera field.” In a more recent release of market share figures in June of 2019, GoPro held a market share of 41%. Over the course of 5 years GoPro has maintained its market share and remained the market leader. In terms of name recognition and share of mind, recently Sony released commercials comparing their camera to the GoPro Hero 7. The competitors put GoPro on a pedestal as the target product in the action camera market. Many people commonly refer to action camera’s as GoPro’s even when referring to competitors’ cameras. In this action camera market, people have continued to use the GoPro brand synonymously with action cameras. With the soon release of the GoPro Hero 8, it can be expected that GoPro continue to hold its top position in the action camera market. Q3. Discuss techniques of building brand equity. (Ch. 11) BREN HOG
One of the techniques used when building brand equity is using the Brand Asset Valuator which is “a proprietary brand assessment model developed by BAV Consulting, a subsidiary of Young & Rubicam. BAV surveys more than 16,000 US households to evaluate brands on a wide range of attributes. (Albuquerque, Durnev, & Koskinen, 2017) There are 4 main components that come along with this model which are Energized differentiation, Relevance, Esteem, and knowledge. Which all are used as a measure, to see how consumers view your product, the pricing point, loyalty to the product etc. This is a great tool to use because it surveys the consumers directly who uses the product and those who know of the product but don’t use it. Another great technique used is the Brand Resonance Model which like BAV” Views brand building as an ascending series of steps, from bottom to top: (1) ensuring customers identify the brand and associate it with a specific product class or need; (2) firmly establishing the brand meaning in customers’ minds by strategically linking a host of tangible and intangible brand associations; (3) eliciting the proper customer responses in terms of brand-related judgment and feelings; and (4) converting customers’ brand responses to intense, active loyalty”(Kottler&Keller,2016). This is one of the most complete techniques.it starts with a base. “Identity (who are you?), Meaning (what are you?), Response(what about you?), and Relationships(what about you and me?)” (Kottler&Keller,2016). This is a great technique for companies that have been around for some time to do. Maybe they got away from how they gained consumers in the from the beginning. And wanted to get back to the basics.

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