Entrepreneurship and Marketing Strategies: A GoPro Case Study Report

This report provides a comprehensive analysis of the GoPro case study, focusing on the entrepreneurial journey of Nick Woodman and the company's marketing and strategic planning efforts. The report begins by examining the dark side of entrepreneurship, including failure, emotional challenges, and personal life compromises, using the GoPro case as a prime example. It then explores the importance of discipline and confidence in entrepreneurial success, referencing Peter Drucker's insights. The second part of the report delves into GoPro's marketing strategies, highlighting the benefits of effective marketing, such as tapping into consumer passion and leveraging social media. Finally, it assesses potential threats to GoPro's business, including increased competition, changing consumer preferences, and the need for a skilled workforce, offering insights into how the company can maintain its competitive advantage through strategic planning.

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Individual Assignment

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Executive Summary
Entrepreneurship is an activity facilitate by a person to organise end results “enterprise”.
Entrepreneurship has identify different activities with a dark side. Dark side mainly include
failure, compromise with life etc. All of these has made a significant influence on a person
and might enforce an individual to drop idea. An entrepreneur is require to maintain
discipline in the work so that idea become successful and different from others. With all such
efforts, another essential frame which support an entrepreneur is strategic and marketing
effort. Appropriate planning makes an idea successful and execute all associated activities
properly. Social media technique has analysed as major factor in the success of any company.

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Contents
Executive Summary...................................................................................................................2
Contents......................................................................................................................................3
Introduction................................................................................................................................4
Part A: Entrepreneurship............................................................................................................4
Question 1..............................................................................................................................4
Question 2..............................................................................................................................5
Part B: Marketing and strategic planning...................................................................................6
Question 1..............................................................................................................................6
Question 2..............................................................................................................................7
Conclusion..................................................................................................................................8
References..................................................................................................................................9

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Introduction
Entrepreneurship needs effective and efficient planning so that an idea leads to getting
success in the keen competitive market. It is really essential to focus on the idea and prepare a
plan with some relevant strategies. Strategic planning is a core factor of any entrepreneur to
get success and heights in the business (Bryson, 2018). This assessment is all about
assessment of a case of Go Pro, the leading camera of its time and invention by Woodman.
This report will be focused on entrepreneurship which includes major traits and the dark side
of entrepreneurship. Another section will be stated about strategic planning and marketing of
products and services to become successful.
Part A: Entrepreneurship
Question 1
Entrepreneurship is all about innovation and brings a new idea for the society to manage
lifestyle and contribute some positive aspect as well. Entrepreneurship is all about indulging
in a good idea and execute it with good aspect and attribute. An entrepreneur includes
different traits and skills which enable it to make idea appropriate and successful. This sort of
aspect is analyzed similarly in the case study of Go Pro by Nick Woodman. He puts all of his
efforts to make a camera and major innovation just to capture every single moment of life.
The idea execution was not absolute and involve a dark side of entrepreneurship as well.
Following are the three major traits which indicate the dark side of entrepreneurship in order
to understand the concept more properly and effectively:
 Failure: A dark side of entrepreneurship includes failure in the work. Failure is
identified as an inevitable part of an entrepreneurship which either boosts or led down
a person badly (Demers, 2019). An ability to get overcome from failure makes a
person perfect and able to take responsibility of an entrepreneur. Nick Woodman has
dropped the idea much time and joins the workplace. This is facilitated due to failure
of idea many of the times.
 Emotion: A person might go into depression due to failure. It is another dark side of
failure which really need investigation (Klotz and Neubaum, 2016). Emotions lead a
person towards inappropriate judgment which makes life worse and discouraged a
person badly. This dark side is also entitled to the success of every entrepreneur. Like
Nick Woodman works for more than four years to invent the camera to capture every

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moment but get failed many of the times. This section leads an emotional disruption
in him but he has overcome from it and become a leading entrepreneur in the world
with a famous Go pro company.
 Problems in personal life: An entrepreneur mainly suffer from struggle in its initial
days and compromise in personal life aspects as well (Miller, 2016). Many of the
problems lead to undertaking by an individual include financials, working on ideas,
the next step to becoming competitive from rivalry, etc. Hence, all such things lead to
compromise in personal life as well. Nick Woodman personal life also lead to getting
hamper as he worked on the camera idea for more than four years. It was a really hard
time as he always indulges in it at home. Thus, his personal life suffered as well
which create some more problems. This is another side of entrepreneurship which
required to assess by an individual before starting any project.
All these are some mentioned dark side which hampers an individual life (Spain, et. al.,
2016). These are required to assess properly so that the entrepreneur can prepare strategies to
overcome them. If a person does not understand these sides then it influences personal
opinion and aspect as well. These factors/ traits are not controllable. Thus, such dark sides are
lead to analyze with case assessment of Go Pro camera and critical assessment of the life of
Nicholas Woodman.
Question 2
A famous scholar once said, "Most of what you hear about entrepreneurship is all wrong. It's
not magic; it's not mysterious, and it has nothing to do with genes. It's a discipline and like
any discipline, it can be learned". This statement is completely true and appropriate in nature.
None of a person can become successful in its life without discipline. An entrepreneur is
required to learn such discipline about work, policies, enthusiasm, targets, objectives, etc.
This discipline leads to learning with a pass of time and life (Neck and Corbett, 2018).
As per the case study of Go Pro, Nicholas Woodman was not a scholar or a topper of the
class. He was disciplined about the idea where he always put his efforts primary. He was
confident that his idea leads to success in the market and make him one of a great successful
person in the world (Jain, 2018). He thinks about the work first and later on other aspects.
This sort of discipline, confidence is required in every person which make a person
successful and distinct from others. Entrepreneurship is not a magic but results of a true
devotion towards work and idea which a person wants to initiate in life. The efforts of

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Nicholas Woodman makes the sale of Go Pro double every year and increase the annual
worth of a company. Thus, all such aspects are found as a result of discipline which leads to
learning after the work on the idea, not at the workplace.
Part B: Marketing and strategic planning
Question 1
Marketing plays an important role in the success of any business organization. A company is
required to use appropriate steps so that they can compete in the keen competitive
environment world (McDONALD, 2016). A new idea requires proper marketing so that
consumer becomes aware of products and services so that they can facilitate position in a
desirable market world. Such arguments lead to support with the case study on Go Pro. They
have used the marketing process and signify some aspects like capture every moment of life
whether to climb a mountain or go diving. US military is also using such cameras in their
training session. The major reason for success and high sales and profitability is operations
and marketing process of a company. Some of the benefits which lead to analyze with the
assistance of marketing are indicated as follow (Cooke, 2019):
 The company taps passion for the product: Marketing team of company research
about the market and develop best-suited content for their consumers so that they lead
to get attach with product emotionally (Patrutiu-Baltes, 2016). Thus, one of the
reasons for the success of Go Pro marketing was too impactful and emotional content
development for the fan base and customers. They indicate that the user can use the
camera anywhere to capture their moment of life. This marketing is helpful and makes
business successful and different from others.
 Social media: The marketing team of Go Pro is using social media technique to make
their product information available to users and attract them with the assistance of
visual content. Moreover, the company provides an option to share it on social media
which boost engagement and commitment towards products and services. Thus,
another aspect which supports the business to gain an advantage is social media
presence.
 Ultimate storyteller: An ultimate aspect behind the success of a company is
storytelling (Mathewsonand Moran, 2016). Many consumers prefer such products
which state story about the entire experience of users. A good content marketing is
one which defines every single phase of the story to the people. Go Pro becomes

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successful with marketing efforts as they use their content and experience of the user
to build a story. Thus, it helps them to maintain their position in the market and
become a leading camera company in the market.
Marketing is helpful for a business to become successful and compete against with rivalries.
Thus, this sort of phase is really required in the firms to develop their strategic plan and focus
on content marketing more rather than other frames. This factor is a key to the success of Go
Pro from which other organizations need to understand. A creative content marketing was a
major reason for the success of Go pro which indicates different reasons for success to get the
achievement and competitive advantage. Thus, such aspects are required to assess by other
companies as well so that they can facilitate success and competitive advantage as well like
Go Pro.
Question 2
The threat is identified as potential harm for a business which restricts their growth and
ability to compete at the market place (Garrett, 2017). A company like Go Pro is using some
effective marketing strategy to lead the market and maintain their position as well. Thus, in
its initial days, management and Nick Woodman has been drafted some of the threat for a
company which needs clear evaluation and understanding. These threats need to consider by
a company so that they can manage a competitive position (Kangand Song, 2017). Below is a
threat analysis for Go Pro so that management can develop some effective strategies to
compete at desire market world:
 One of a great threat for Go Pro would be high competition. Many of the competitors
have been developed a smartphone with high-quality camera feature with class clicks.
This is a major threat for Go Pro which restricts them to operate properly and harm
business ability in a future context as well. It is a major threat for a company which
hurdles its operations and create a lot of difference in operations (GoPro, Inc. SWOT
Analysis / Matrix, 2019). Thus, new technological development analyses as a major
threat for Go Pro in 2019.
 The demand for cameras lead to decrease in the future as people start using the cell
phone to click pictures (GoPro, Inc. SWOT Analysis / Matrix, 2019). Moreover, a
feature of water-resistant gives a specific angle to the cell phone where people can
easily click pictures in the deep sea water. Thus, decrease of demand for cameras in
the future considered as another threat for a company which needs effective

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evaluation by management of a company. Currently, Chinese companies like Oppo,
Vivo, and Apple with some other companies like Samsung, Techno create a great
difference in the gadgets business environment. Thus, such aspects have developed a
great threat for a business which needs effective assessment.
 Skilled workforce with changing buyer preference has been analyzed as more threat
aspect for the company(GoPro, Inc. SWOT Analysis / Matrix, 2019). It is hard for Go
Pro to find a skilled workforce in such a competitive environment as many companies
hire an individual at an appropriate wage level. Moreover, users are now purchasing
products with online medium rather than physical infrastructure supply chain (Park,
et. al., 2018, January). Thus, it is really hard for a company to maintain its position in
the longer duration and manage their profit ratio. This is another determined threat for
Go pro in the year 2019 and beyond. Thus, management needs to draft some effective
strategies to deal with such issues and problems.
Conclusion
It gets concluded from the project that entrepreneurship and strategic marketing plan enables
a firm to compete in a desirable market world. Emotion, personal life has considered under
the dark side of entrepreneurship which influences easily. Moreover, content marketing has
supported a business to grow and get a competitive edge from others. It mainly provides
support to the business to make it different from others. Entrepreneurship has required some
discipline as well so that individual can implement a new idea properly and make valid
justification at the market place.

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References
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Cooke, R., 2019. Go Big Or GoPro: How The GoPro Marketing Strategy Defines Content
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https://www.business2community.com/content-marketing/go-big-gopro-gopro-marketing-
strategy-defines-content-marketing-01055894. [Accessed on: 10th May 2019].
Demers, J., 2019. 7 Dark Truths About Entrepreneurship. [Online] Entrepreneur. Available
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