Capitalizing on traditional advertising, content marketing and social media, GOP built a ritualistic fan base in sports enthusiasts, professional athletes, and media production professionals. Goop’s professional line of wearable and mountable cameras are now becoming the most used camera in the market today, making it one of the most innovative and successful cameras in the world. An evaluation of the company’s internal strengths, weaknesses, opportunities and threats paints a nice picture of where GOP is and where GOP could be at as a company.
Some of the greatest design features of the GOP are the size, durability, and recitalist of the camera and the outer protective casing enabling it to be worn and carried virtually anywhere. GOP focuses on outperforming its competition while at the same time capitalizing on the quality of their product. Goop’s advertising and brand promotion has successfully targeted and acquired professional attention from a multitude of industry leaders. However, these past marketing strategies left a large portion of the average consumer Feb.
With timing being the essence of success, GOP recently filed for and initial public offering set in the second quarter of 2014. The timing of this PIP creates a crucial opportunity to transition the average consumer into a GOP user and acquire more market share. New advertising messages and integrated brand promotions will be utilized to target the travel, leisure and recreation sectors. External Environment A. Market Analysis Goop’s past marketing efforts have identified two solid markets. The primary market is active adults’ ages be;en 21 and 45 and a secondary market of teens and young adults between ages 12 and 18.
Along with this age segmentation GOP has also focused its marketing towards consumers who re into extreme sport lifestyle. Additionally GOP targets consumers who tend to take two or three vacations a year. These active consumers tend to love travel, willing to document their goals, aspirations, travels and hobbies over social media. GOP loves this demographic because they seem to be easy decision-makers, brand loyal and favor quality over price. The third group which is young adults between ages 18 and 21 tend to travel with their friends on short social outings and trips that fit their hobbies and interests.
This group is the highest group of social media users. This group spends on average of 29 or more hours per week online distributing and consuming media. B. Competitive Analysis Goop’s main competitors are Sony, Contour, and Camembert. GOP make! Up 84% of the action camera market share, following next is Sony with 7%, then Contour with 8& and Camembert with 1%. Sony is a viable competitor because it’s unmatched image quality. Other competitor’s closely match Goop’s design, mounting and protection of the camera. Other competitors such as the Contour feature laser alignment and GAPS tracking.
These feature: are key in developing professional quality videos. The GAPS feature lets users rack and remember where videos were taken. Still GOP dominates the market because they are the most well know brand and are leading the edge of portable action cameras. GOP has a global industry scope. More than half Of all GOP sales are outside of the US. The outlook for action sports cameras in my opinion will not go out of style anytime soon and is an attractive fad for young adults. Internal Environment A. Company Profile I.
History In 2002, Nicholas Woodman created the idea of the wearable camera. The evolution occurred when the camera was moved from the writs to an apparatus that can be attached to any device. GOP became the first company that solved the issue of how do you captured images and video when people are in their moments Of excitement where it is just too inconvenient to hold the camera. The key feature of GOP systems would be the outer protective shell which- has the ability to rotate upon itself, creating a durable camera that is water and shock proof and can be mounted to anything.
The evolution enabled people around the world to state document their everyday lives. From sports to scientific research these innovative cameras captured it all. Ii. Employment GOP employs hundreds of people. GOP looks for independent, creative thinkers to join their team. GOP employs people in many different sectors. From firmware and hardware development to finance, legal and marketing. Go pro has a job for you. Locations of employment include San Mateo and San Francisco California, New York City, Munich Germany, Sheehan China, Hong Kong and Amsterdam Netherlands. Ii. Product Lines The first GOP was introduced to the market in 2004. The GOP camera has evolved from HAD Hero to HAD Hero 4. The new HAD Hero 4 includes key features such as ultra-high definition resolution, shooting PM photos at 30 frames per second. Goop’s feature super wide angle lenses that operate at extreme low lighting conditions. All Goop’s are light weight and are versatile and customizable. The editing software included is a powerful enough to handle your toughest footage. Iv. Quality GOP Quality is second to none.