The GoPro Camera Company: Marketing Approaches and Entrepreneurship

Entrepreneurship 1
THE GOPRO CAMERA COMPANY
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Entrepreneurship 2
EXECUTIVE SUMMARY
This is a report concerning the structure of marketing approaches the GoPro Company
employs in selling its cameras. A detailed analysis based on the SWOT approached has also been
touched. The report also includes characteristics of entrepreneurship and the recommendations
that will aid the company stay in the market according to its weaknesses and threats from the
SWOT analysis.
INTRODUCTION
Individuals especially several sports persons would want to capture some of their
exploits. Athletes would always want to show their friends some of the moments during a
specific event. This necessitated the need to invent super cameras that would capture such
moments of action. GoPro, a camera company, initially known as Woodman Labs was founded
in 2002 by Nick Woodman an athlete and a surfer (Mac 2013). While in Australia, the
photographers had poor and cheap equipment that could not capture Woodman surfing
(Hamamura, Pentax Corp, 2006).
Starting as Woodman Labs, GoPro has grown into a big company manufacturing digital
cameras, developing apps and building software. Its progress is growing annually with its gross
revenues increasing each year. Currently, Nick Woodman is a proud founder and a billionaire
joining other billionaires in the globe having started as a small company. At first, Nick
Woodman was not sure whether his innovation could grow into such a big company. It took him
four years to develop the idea. GoPro cameras can be attached helmets, surfboards, bicycles, etc.
PART A
Question 1
Entrepreneurship does not require light-hearted individuals. A person with an idea of a
particular business has to consider both the negative and the positive side of the company. Will
the business grow? Will it realize profits with time? How will the idea be welcomed in the
market? What will other people say about the business? These are some of the questions that run
in the mind of any entrepreneur. Clearly, entrepreneurship has ups and downs. Therefore, dark

Entrepreneurship 3
sides to entrepreneurship exist and some people are associated with this. The dark traits of
entrepreneurship are as follows; -
Self-Belief.
As mentioned earlier, entrepreneurship has both positive and the negative part of it. One has
to possess a self-belief personality. One needs a lot of self-confidence and must be willing to
take the risk. A successful business does not achieve instant success (McGee, Peterson, Mueller,
and Sequeira, 2009). The entrepreneurs behind the company must be patient, take the risk to
undertake the business no matter the outcome. Nick Woodman was well aware that any business
may either fail or succeed. Therefore, with this trait, he was confident that in the long run, the
business idea could be successful. He, therefore, gave himself four years to develop the concept.
 The Desire for Applause.
Every person would wish to be applauded for any achievement made. Entrepreneurs also
would want to be praised for their rise to prominence through a successful business idea.
However, they have an enormous amount of tension that may be their breakthrough would not
last. From the GoPro case study, Nick Woodman took 4 years to ensure that he achieves lasting
success. He wanted to show other entrepreneurs that they also mean something, and they cannot
be ignored.
When an entrepreneur does not receive any applause, they tend to feel insignificant. Such a
feeling is an inner voice that tries to convince them that they will not mount anything. But one
who becomes defiant to such voice will never retire. They will fight through the feeling and
prove to the world that indeed they amount to something. In the end, the entrepreneur will find a
way to overcome their fears and ride to the top to receive applause.
 Sense of Distrust
Sense of distrust is a trait which can be linked to the dark side of entrepreneurship. There is
always a sense of suspicion towards other people and the world around them. This is one trait
that many entrepreneurs possess. Entrepreneurs live in panic of being abused for their business
ideas; thereby they want to be ready if anything happens. Most of them have a great feeling when