MNG91002: GoPro's Marketing and Entrepreneurship Strategies Report

This report provides a comprehensive analysis of GoPro's marketing strategies and entrepreneurial journey, focusing on the company's founder, Nick Woodman, and its innovative approach to the action camera market. The report begins with an executive summary outlining GoPro's establishment, its unique features, and its successful marketing strategies. Part A delves into the 'dark side' of entrepreneurship, discussing key traits like dedication, passion, and resilience, and how these are exemplified by Woodman's journey. It also explores Peter Drucker's views on entrepreneurship and how they apply to GoPro's success. Part B examines GoPro's marketing strategies, including content marketing, social media engagement, and competitive advantages. A SWOT analysis is presented to assess the company's strengths, weaknesses, opportunities, and threats. The report concludes with recommendations for GoPro to maintain its competitive edge and continue its growth in the market. References are provided to support the analysis.

Running Head: Go 0
Entrepreneurship
5/22/2019

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Executive summary
The following report discusses the GoPro marketing strategies, which has remained attractive
from the beginning until now. GoPro has established by Nick Woodman in 2002, which is the
most international handy action camera. It is recognized as their smallest & light camera,
high-resolution recording with waterproof and rugged functions. It was intended to serve the
extreme support and commitment towards the professional athlete and sports enthusiast.
Therefore, in order to reach the customers, they found a way to connect with them in an
effective manner. GoPro allows the customers to share a memorable and special experience
with the whole world. In the following, an effort has been made to discuss the traits, which
are related to the dark side of entrepreneurship. In addition, in which manner, GoPro
maintains a competitive edge from their marketing procedures.

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Table of Contents
Executive summary....................................................................................................................1
Introduction................................................................................................................................3
Part A.........................................................................................................................................3
Part-B.........................................................................................................................................5
Recommendation....................................................................................................................7
Conclusion..................................................................................................................................8
References..................................................................................................................................9

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Introduction
GoPro is a privately owned organization that specializes in creating strong compact cameras,
software, and accessories, which target sports enthusiasts. Nick Woodman has established
GoPro in 2004, as he came up with the idea to capture high-resolution pictures and videos
while surfing. GoPro continues to diversify by maintaining an international partnership with
Asia-Pacific nations, and other countries involving Africa, Europe, and the Middle East
where they now have 44,000 retail outlets. They held 30% of the camera market share by
putting ahead main competitors HTC, Nikon, and Sony (Forbes.com, 2019). They have
offered customers free desktop software that permits them to edit their videos and share with
the help of social networking. This motivates incentives for customers, especially in social
media, sports, and entertainment business so that they purchase the GoPro and share it with
other people. This also enhanced brand engagement and serve as an extensive marketing tool
that needs no additional expenditure. GoPro has sold their first camera i.e. 35mm Hero at San
Diego Action Sports event. It is the main leader in the action camera industry, which was
utilized breakthrough and innovative technology to achieve better results in the industry. It is
also the international leader in the main action camera pioneer (Pisani and van den Dolder,
2018).
Part A
Q.1
Ans1. The force’s features have offered an instance of realization story of Nick Woodman
who was a surfing fan and revolving into a business entrepreneur. It is stated that he has made
his name in international prominent billionaires’ entrepreneur, motivated to build a product,
and directed by fear of failure. They have the perfect idea so that they can take picture and
videos by tie band to the wrist efficiently. They have depicted several attributes and
capability to generate a tremendous drive in aiming predictability and affordability. The first
attribute is determined as the capability to follow his creativity and determination. He has a
great conviction to recognize the need of several people as they are facing difficulty in taking
perfect photographs. The second attribute is determined as the ability to deal with
disappointment and attain success. He has established outlier of the tremendous success and

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profitability and after starting GoPro; he has faced many failures and not failed to follow his
determination, will, and desire (Chalfen, 2014).
He has productively taken initiative in establishing and implementation of GoPro as the last
attribute is stated as a market in which people are generating more interest in developing
more products. He has attained immense success and profitability, which is due to hard work
and passion. He has taken extreme effort at the age of 26 involving the majority of
individuals’ i.e. young people searching for a job and fresh graduates. It also has been
recognized by distinct characteristics of an entrepreneur involving dedication, passion, and
Resilience (Judge, Piccolo and Kosalka, 2009). It is further described and associated with the
founder of GoPro.
 Dedication- It is one of the most attributes for any professor in the world, especially
for the entrepreneur. He has successfully launch GoPro, which is due to the dedication
and hard work so that they can attain their target. It is stated that every entrepreneur
needs to work hard at the initial stage, and dedication will motivate him to face all the
obstacles so that they can follow the dream (Johnson, Madole and Freeman, 2018).
 Passion- It is also the significant feature of every successful entrepreneur as it is stated
that this trait is majorly present in Nick Woodman. It improves the capability to
convince others regarding their dreams. It assists the entrepreneur so that they can
stay concentrated on the objective and attain success. In producing GoPro, Nick was
so passionate about his dream in order to turn an idea into reality.
 Resilience- It is a significant aspect of achieving success and growth. It is stated that
Nick explores into many places for advertising and promotion, which can be done
through utilizing social media sites such as Instagram, which is very popular among
several people (Schmidt and Rzhanov, 2012).
Q2.
Ans2. It is stated that entrepreneurship has been developed from the French language that
defined an individual who is undertaking something. It is stated from the provided case that
Nick is the individual who takes the full initiative to establish the interest so that they can
develop reality and undertake a business that can lead to growth. Nick Woodman is been
determined as an entrepreneur who assumes the risk of business, opportunity taker,
undertaker, and flexible. He has transformed the idea into reality in the manner of generating
a strong sense of realization, determination, and strong support of another employee in

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making GoPro. Peter Drucker has been determined as the management consultant who has
well-defined entrepreneurship as a discipline (Landström and Harirchi, 2018). He has said
that the entrepreneurial mystique? It is not magic, it is not mysterious, and it has nothing with
the genes. It is a discipline, which can only be learned. It has provided enlightenment that the
aspect of entrepreneurship has been encompassing towards several sorts of organization,
which are broadly utilized by different writers. Drucker explained that entrepreneurship is not
just the aspect without a foundation where any individual take initiative in managing risks,
gather resources, and diversifying trend in the market. He has given an instructive, surprising,
and historical approach to illustrate entrepreneurship. He has depicted several concepts of the
entrepreneur where the people frequently came across potential opportunities and generate
successful business because of the unavailability of their concept in the marketplace. It has
also been found that Nick has not been fitting appropriate to the engineering field but then
also he has shown immense dedication and attained success in producing his first camera
(Minchin and Alpert, 2017).
He has also concentrated on intangible characteristics of the entrepreneur, not by genes. He
determined them as personalities with inquisitional nature, innovative with energetic state of
presence, determination, open-minded approach, and risk takers (Bizzotto et al., 2014).
Part-B
Q1.
Ans1. GoPro is stated as small as well as compact, which takes attractive pictures and HD
quality movies. They have utilized a content marketing strategy that has concentrated on the
content that can be captured and shared in the effort to utilize this type of marketing strategy.
They have utilized content marketing instance similar to Red Bull. They have utilized athletes
as their productivity management in adventure and sports. GoPro has lined up a great content
i.e. sports equipment that assists to take pictures and share these wonderful experiences with
other people. GoPro has been produced so that customers can get a quick snapshot of record
something that is happening to them. It is stated that in order to get the word of mouth and
market skimming strategy of advertising; GoPro has generated a video channel on YouTube
where individuals can take pictures and videos that motivates prospective clients to purchase
GoPro. This can progressively grab the attention of people who love hilarious stunts and

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adventure utilized to grab the attention of individuals searching something interesting
(Joachimsthaler, Blanchon-Ehrsam and Zinnbauer, 2019).
This is a great illustration of social media marketing, as GoPro not only offers photos but also
replies towards the customer's comment and videos. It is stated that despite having thousands
of videos, GoPro executives pick up suitable photos and video and highlight them. They also
respond and comment regarding the feedback of the customer and take full effort to satisfy
the emotional expectation and client needs & preferences. In addition, consumer spreads
GoPro marketing pattern by sharing cool photographs and other stuff. It is quite evident that
social media marketing and content-based marketing of GoPro has justified significant
factors in profitability and growth along with the technological improvement of their market
productivity. The technological part of GoPro has delivered the conviction of maintaining
new products from the feedback of the client and responses leads to the advancement of the
Hero Black edition of the camera. This has also delivered the best resolution in respect of
camcorders and effective extent of waterproof characteristics (Martins et al., 2016).
It is stated that to generate a competitive edge, GoPro has offered an effective framework that
has permitted them to establish a strategic partnership and discover new markets. This has
been an extensive conviction to seek treaties with medical and filling divisions, law
enforcement, as well as the traveling department. GoPro has also delivered a safe platform of
evidence, which assists forensic experts and police officers to record them and serve the
public. It is stated that GoPro choices of marketing utilizing appropriate attention and focus,
which has remained the strength of the company (Kindt, 2011).
Therefore, it has generated a deep commitment to sizeable investment and product
development. This has permitted GoPro so that they can generate a better quality of the
product and generates effective operations. This has aimed at efficient supply chain
operations and needs to resolve possible barriers in advancement such as research &
development, raw material, and labour costs so that the content has been studied (Stein,
2017).
Q2.
Ans2. It is stated that the market-driven performance has continued as the standpoint and
established the product depending upon the feedback of the client. This has also offered
several variations so that GoPro can sustain in the market. Therefore, there are several

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concerns that GoPro camera can form into the market regarding the threats of the
marketplace. In the following, SWOT analysis has been provided, which assist the company
so that they can maintain a positive image in the minds of the clients (Ball, 2017).
Strength
 High quality and versatile camera
 High resolution and definition video
 Waterproof characteristic
 Vibration resistance nature
 The strong opponent in the market
 Generates brand awareness
 The diversified scale of product
 Utilization of sports athletes as
brand ambassadors
Weakness
 Lack of research and development
 Lack of strategy to contend with
competitors
 Higher price as compared to other
camera producing company
 Incapable to switch the lens
 Small target market
 Utilizes wide lens only
Opportunities
 Can increase safety and security
upon the camera
 Can generate more varieties of the
camera like fisheye and telephoto
 Expanding market
 Global population
 Can generate a new and improved
new system
 Can improve compilation with the
law enforcement
 Can also provide traveling and
medical packs
Threats
 Low entry barriers and price is
constantly rising
 Services and goods taxes are high
 Strong competitors with rivals
 Strong competition form waterproof
smartphones, which are significantly
utilized in daily use
 Need to improve privacy laws
 Responsiveness needs to be improved
(Dobni, Klassen and Sands, 2016)
Recommendation
It is stated that GoPro has been depicted as a strong foundation in order to capture and share
photos on social media marketing. They have generated several types of planned cooperation
with their shareholders. GoPro camera has remained not only as an aspect of storytelling but

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also as an inventive tool to capture and share memories with the whole world. Customers
need to be provided with a mounted camera so that they can capture the whole world. GoPro
has plans to implement different versions so that they maintain a positive image in the
professional market. They are facing severe threat from major rivals such as Sony, Nikon,
and Canon. It is been recommended that GoPro should be more technically advanced so that
they can serve consumer and professional film cameras in the media industry. This is quite
evident that this step is missing and it is suggested to develop motivation in the professional
camera in the future (Bartel, Baldi and Dukerich, 2016).
Conclusion
In conclusion, it is stated that GoPro is an action camera with affordable prices so youngsters
and other sportspersons can manage that so that they can capture amazing experiences with
HD quality. It is stated that it has also coned when people take the photos and videos with
GoPro camera and get sick to the watch because of length and large size of the video. This
also incorporates that people are getting tired of viewing the same things over the time by
taking photos from the same angle. Therefore, GoPro needs to put extra effort to generate this
professional camera into an attractive and interesting thing. They can achieve success and
profitability by maintaining marketing strategies for implementing and selling as an aspect of
the marketing mix.

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References
Ball, R.J. (2017) The Proliferation of Unmanned Aerial Vehicles: Terrorist Use, Capability,
and Strategic Implications. Lawrence Livermore National Lab, 11(7), pp.434-546.
Bartel, C., Baldi, C. and Dukerich, J.M. (2016) Fostering stakeholder identification through
expressed organizational identities. The Oxford handbook of organizational identity, 43(6),
pp.474-493.
Bizzotto, N., Sandri, A., Lavini, F., Dall’Oca, C. and Regis, D. (2014) Video in operating
room: GoPro HERO3 camera on surgeon’s head to film operations—a test. Surgical
innovation, 21(3), pp.338-340.
Chalfen, R. (2014) ‘Your panopticon or mine?’Incorporating wearable technology’s Glass
and GoPro into visual social science. Visual Studies, 29(3), pp.299-310.
Dobni, C.B., Klassen, M. and Sands, D. (2016) Getting to clarity: new ways to think about
strategy. Journal of Business Strategy, 37(5), pp.12-21.
Forbes.com. (2019). The Mad Billionaire Behind GoPro: The World's Hottest Camera
Company. [online] Available at: https://www.forbes.com/sites/ryanmac/2013/03/04/the-mad-
billionaire-behind-gopro-the-worlds-hottest-camera-company/ [Accessed 20 May 2019].
Joachimsthaler, E., Blanchon-Ehrsam, A. and Zinnbauer, M. (2019) Hidden in Plain Sight:
How to Create Your Company’s Next Big Growth Strategy: 10 Years Later. In Marketing
Wisdom, 22, pp.61-80.
Johnson, S.L., Madole, J.W. and Freeman, M.A. (2018) Mania risk and entrepreneurship:
Overlapping personality traits. Academy of Management Perspectives, 32(2), pp.207-227.
Judge, T.A., Piccolo, R.F. and Kosalka, T. (2009) The bright and dark sides of leader traits: A
review and theoretical extension of the leader trait paradigm. The leadership quarterly, 20(6),
pp.855-875.
Kindt, D. (2011) Seeing through the eyes of the students: First impressions of recording in
the classroom with a GoPro® head-mounted camcorder. Nagoya University of Foreign
Studies Journal of the School of Contemporary International Studies, 7, pp.179-199.
Landström, H. and Harirchi, G. (2018) The social structure of entrepreneurship as a scientific
field. Research Policy, 47(3), pp.650-662.

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Martins, J., Gonçalves, R., Oliveira, T., Cota, M. and Branco, F. (2016) Understanding the
determinants of social network sites adoption at firm level: A mixed methodology
approach. Electronic Commerce Research and Applications, 18, pp.10-26.
Minchin, C. and Alpert, F. (2017) Realising Drucker and Kotler's Vision for a Strategic
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Pisani, N. and van den Dolder, P. (2018) GoPro, Inc.: Will Entry into the Drone Market Help
its Comeback?. SAGE Publications: U.S.A: SAGE Business Cases Originals.
Schmidt, V.E. and Rzhanov, Y. (2012) Measurement of micro-bathymetry with a GOPRO
underwater stereo camera pair. In 2012 Oceans, 21(5), pp. 1-6.
Stein, R.L. (2017) GoPro occupation: networked cameras, Israeli military rule, and the digital
promise. Current Anthropology, 58(15), pp.56-64.