GoPro - HD wearable camcorder
Introduction When GoPro, which introduced the first wearable sports cameras, launched its first product, there was nothing like this camera. This product has become a success since it was introduced in the market. What makes it so different from the others that satisfy the same needs? Further analysis about the product is needed to understand the means of differentiation that have the most impact on decision-making. Constructing a sustainable competitive advantage through differentiation strategy is one method, although there are other strategies such as cost leadership, innovation, operational effectiveness, or customer orientation. Differentiation in a product, brand, or service is a crucial factor for a buyer when deciding what to buy. The same product is offered under different competing brands, products that fulfil the same need typically have similar features. Every marketer needs to be aware of what is happening in the market, in order to stay aware of the need to adjust features of a product or to introduce a new one if a gap occurs. In this last case, innovation is the key to differentiation — launching new goods with new features that take into consideration the customer´s needs. The differentiation of goods through key features and minor details is extremely important to increase profits and protect company prices from falling. Products can be differentiated in form, features, customization, performance quality, conformance quality, durability, reliability, reparability, and style. GoPro is a market leader brand and has the advantage of being the first mover. Nowadays, there are some brands that have released HD wearable camcorders – Samsung, Countour, Drift, and Sony. My analysis considers the comparative advantages of GoPro over other waterproof wearable cameras.
GoPro Background Nicholas Woodman is the founder and inventor of GoPro. Woodman came up with this idea after discovered that he was not able to capture real life high definition photographs of himself while on a surfing expedition in Australia in 2002: “That trip is what fired me up to come home and finally start GoPro to create “the invisible camera”, a wearable camera so convenient that you forget you’ve got it on” (Q&A 2010). GoPro is a brand that sells the world’s most versatile camera, a small waterproof and shockproof camera. All of their products are in the development stage of their lifecycle; it is perhaps the world’s fastest-growing camera company. This camera has Margarida
something different compared to the other waterproof wearable cameras, which do not have enough technology to capture specific images at the exact moment they occur. Until the emergence of this camera, extreme sport lovers had trouble recording their adventures. Contracting a professional photographer is often too expensive and they are frequently not able to properly track athletes. Woodman had the idea of creating this product when he realized it was not there when he needed it most. He identified a need and he went further, he made it a reality.
Segmentation, Targeting and Positioning The formula “segmentation, targeting, positioning (STP)” is the essence of strategic marketing (Keller & Kotler 2011). Market segmentation is the process of dividing the total market into several smaller distinct groups of buyers. GoPro’s segmentation is done according to behavior of the customers. For instance, cameras are used by families, sport practitioners, and students. In order to satisfy their needs, GoPro designed various accessories and different cameras. The decision regarding choosing how many and which...
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