MNG91002 - Entrepreneurship: GoPro Case Study Report and Analysis

This report analyzes the GoPro case study, focusing on the entrepreneurial journey of Nick Woodman and the company's success. Part A delves into the 'dark side' of entrepreneurship, discussing the emotional and physical toll, isolation, and the potential for failure. The report then examines how GoPro's success contradicts Peter Drucker's teachings, highlighting the importance of timing and innovative thinking. Part B explores GoPro's marketing strategies, comparing them to competitors like Sony and conducting a SWOT analysis to identify strengths and weaknesses, specifically focusing on its sturdy grip design. The report also addresses potential areas for improvement, such as compatibility with telecast mediums and image processing software, and suggests strategies for future growth. The analysis is supported by references to academic sources.

Running Head: AN OUTLINE FOR THE ANSWERS BASED ON THE GO PRO CASE STUDY

Running Head: AN OUTLINE FOR THE ANSWERS BASED ON THE GO PRO CASE STUDY
Part A
Outline for Question 1 (Entrepreneurship)
Introduction (100 words): Entrepreneurs often finds it difficult to handle the pressure of
failure. In the present case, the entrepreneur Nick Goodman postponed his plans for four
years. These four years were the toughest years for his life because of three factors; these
factors can be termed as the dark side of being an entrepreneur.
The dark side of being an Entrepreneur
Factor 1: The emotional and physical toxins created by constant pressure and stress:
Clinical studies have presented evidence that the community of the entrepreneur often fall for
the trap of stress and this stress gives rise to many negative biological and psychological
conditions.
Factor 2: Isolation from the fraternity and economic crisis because of the idling period:
Bill Gates, Thomas Elva Edison, and Leonardo Da Vinci belongs to different eras however,
they felt the same pang of economic crisis because the world was not ready to accept their
ideas. As an entrepreneur, it is the toughest time or the darkest period right before the arrival
of the limelight and success (Morgan, 2015).
Factor 3: Middle age crisis and point of no return: Scientist Nicolai Tesla promoted the
concept of electromagnetic waves, however, during that period technology was not smart
enough to accommodate his ideas. He lived a life of misery and died in poverty.
In the present world, right from the mobile phone to satellite communication, everything is
taking the support of the same concept. An absolute failure of an idea can ruin the life of an
entrepreneur. They should know the exit point if they are not succeeding.

Running Head: AN OUTLINE FOR THE ANSWERS BASED ON THE GO PRO CASE STUDY
Question 2
The case study of Go Pro completely denies the teaching of the “Peter Drucker." Nick
Goodman never attended any college. There are five pieces of evidence in this success story
that tells us about the right timing of the Nick, for instance, Nick Promoted Go pro as a
Cinema Grade point of view camera. The truth is this that in the present time's everybody is
seeking for HD grade cameras that can be telecasted on internet. Nick's intentions were
something else; however, the market received it in a different vein.
We cannot study entrepreneurship in colleges and other places because they promote out of
the box ideas. We can also understand this fact with the help of big data facilities. If the
processing of the data can create an entrepreneur then big data facilities have all the good
reasons to rule the future markets (Donnelly, 2018).
Part B
Question 3
Marketing and strategic planning
When we have a look at the marketing innovations and initiatives of the Go Pro, in context
with the present day strategies of the rivals like Sony and others, we find that Go-Pro focused
more on the inherent quality of the product, which was the grip of the product, they came up
with a line of variants to support various types of surfaces and grips. The other companies
like Sony tried to add features in their camera. This variation created a niche segment for Go-
Pro products. When we do a SWOT analysis, we find that the biggest strength of Go-Pro is
associated with its sturdy grip designed for adventure activities and heavy duty stuff. Rest of
the players are focusing more on picture quality and softer aspects. This distinction is

Running Head: AN OUTLINE FOR THE ANSWERS BASED ON THE GO PRO CASE STUDY
working well for the company because the demand for these products is always on a rise and
Go-Pro has a loyal customer base.
Question 4
Compatibility with the telecast mediums and image processing software is an area where Go-
Pro may fail. Most of the players in the market of Camera are now developing a complete
suite where an individual can process a film or a video clip in an end to end fashion. Go pro
is lagging behind in this area because they are not developing ancillary technologies to
support their main offering. This is creating a gap between customer expectations and the
offerings of the product. Ideally, Go-Pro should try to develop a support system for their
products, Kodak once faced the same problem, in order to negate this problem they went for
above the line operations and along with the camera they started producing the raw materials
for the camera and came up with printing presses to develop the final products.
References
Donnelly, C. (2018). Digital loyalty card ‘big data’ and small business marketing: Formal
versus informal or complementary? International Small Business Journal , (Online)
Available At: https://journals.sagepub.com/doi/full/10.1177/0266242613502691. (Accessed
20-5-19)
Morgan, T. (2015). The dark side of the entrepreneurial orientation and market orientation
interplay: A new product development perspective. International Small Business journal ,
(Online) Available at : https://journals.sagepub.com/doi/10.1177/0266242614521054.
(Accessed 20-5-19)

Running Head: AN OUTLINE FOR THE ANSWERS BASED ON THE GO PRO CASE STUDY