Intro
To us, the GoPro is the ultimate tech product; however GoPro started small, developed from research and development in an amateur entrepreneur’s garage, not in a multi-national’s lab. Started with 10,000 dollars in bootstrapped cash, Nick Woodman, an aspiring entrepreneur started off selling bead and shell belts to raise the cash to sell the product that is now part of America 's fastest-growing camera company. It was while selling bead and shell belts out of his van that Nick Woodman had envisioned the idea of a better film strap for cameras, as the common film straps on the market weren’t particularly durable and broke easily. Do not be mistaken though, GoPro was not his first entrepreneurial idea. Woodman went through building and …show more content…
is so successful in this industry is due to many factors: One of their biggest advantages is that they are so diverse and ahead of their competitors in this field. GoPro has multiple competitive advantages that make them this successful. Their biggest advantage is that this camera can be mounted on almost anything makes it very possible to record any kind of video their consumers please. On most cameras, it is very difficult to get the perfect angle while not holding on to it and recording it at the same time. The GoPro allows for this to happen. Many Companies try and replicate this style of action camera. Some of these companies include Sony and Xiaomi. As these companies try and keep up with GoPro’s advanced technologies, GoPro is always thinking ahead and implementing new effects and improvements to their product, putting their competition behind them in the market. Another advantage is that GoPro has created their own community for people to post blogs and videos of them using their GoPros in action to share their experience for everyone to see. What makes this company so unique is that they are targeting a whole different kind of consumers who are looking for action and quality in their video …show more content…
Being the first to create wearable camera technology, it has allowed become the leading name in the market of action and wearable cameras. Not only has GoPro integrated innovative features and increased qualities to their action cameras to keep up with, if not surpass the advancing camera and video technologies of modern times, but also continuously expanding its line of products. GoPro focuses on differentiation through innovation, an essential key to this company by designing their own hardware, such as custom sensors. GoPro strives to differentiate itself also through its unique marketing techniques. The company effectively showcases the quality of their products through a video-enabled point of purchase to showcase the product in retail stores, which is seldom used by other companies.
Gopro’s competitive situation is rigorous. Firstly, consumers spend less on cameras. Relative to other camera, GoPro is more expensive. However, with the progress of the Smartphone, consumers do not need to pay more on cameras. So, pricing is a big issue of Gopro’s competition situation. Secondly, consumers are looking for the higher cost-efficiency cameras. There are a lot of new active camera product has been unveiled, they are built with similar configuration or more advanced. GoPro will lose in the competition situation gradually, if it is keeping status
To us, the GoPro is the ultimate tech product; however GoPro started small, developed from research and development in an amateur entrepreneur’s garage, not in a multi-national’s lab. Started with 10,000 dollars in bootstrapped cash, Nick Woodman, an aspiring entrepreneur started off selling bead and shell belts to raise the cash to sell the product that is now part of America 's fastest-growing camera company. It was while selling bead and shell belts out of his van that Nick Woodman had envisioned the idea of a better film strap for cameras, as the common film straps on the market weren’t particularly durable and broke easily. Do not be mistaken though, GoPro was not his first entrepreneurial idea. Woodman went through building and …show more content…
is so successful in this industry is due to many factors: One of their biggest advantages is that they are so diverse and ahead of their competitors in this field. GoPro has multiple competitive advantages that make them this successful. Their biggest advantage is that this camera can be mounted on almost anything makes it very possible to record any kind of video their consumers please. On most cameras, it is very difficult to get the perfect angle while not holding on to it and recording it at the same time. The GoPro allows for this to happen. Many Companies try and replicate this style of action camera. Some of these companies include Sony and Xiaomi. As these companies try and keep up with GoPro’s advanced technologies, GoPro is always thinking ahead and implementing new effects and improvements to their product, putting their competition behind them in the market. Another advantage is that GoPro has created their own community for people to post blogs and videos of them using their GoPros in action to share their experience for everyone to see. What makes this company so unique is that they are targeting a whole different kind of consumers who are looking for action and quality in their video …show more content…
Being the first to create wearable camera technology, it has allowed become the leading name in the market of action and wearable cameras. Not only has GoPro integrated innovative features and increased qualities to their action cameras to keep up with, if not surpass the advancing camera and video technologies of modern times, but also continuously expanding its line of products. GoPro focuses on differentiation through innovation, an essential key to this company by designing their own hardware, such as custom sensors. GoPro strives to differentiate itself also through its unique marketing techniques. The company effectively showcases the quality of their products through a video-enabled point of purchase to showcase the product in retail stores, which is seldom used by other companies.
Gopro’s competitive situation is rigorous. Firstly, consumers spend less on cameras. Relative to other camera, GoPro is more expensive. However, with the progress of the Smartphone, consumers do not need to pay more on cameras. So, pricing is a big issue of Gopro’s competition situation. Secondly, consumers are looking for the higher cost-efficiency cameras. There are a lot of new active camera product has been unveiled, they are built with similar configuration or more advanced. GoPro will lose in the competition situation gradually, if it is keeping status