1. Consumer
and Stakeholder
a.
Current
consumer characteristics
GoPro
is known for its ability to capture amazing images in action. Scenes that appear
in the latest action movies; a surfer catching a huge wave; coming face to face
with a Siberian tiger; or little Billy’s swing at his little league game. The
genre of video that GoPro has been used to capture goes to show that their
consumers are anything but average. Their commonalities are just as extreme as
the videos they capture. “GoPro cameras allow action-sports enthusiasts to take
professional quality videos; however, many were purchased by consumers who
don’t have thrill seeking on their minds” (Burrows, 2012). GoPro cameras are
becoming lighter, easier to use, and offering exciting new features such as HD
and slower slow motion capabilities. As more and more consumers look to capture
practically their whole lives and the lives of others on video, GoPro has bridged
the gap from enthusiasts to stay at home moms.
b.
Demographics
GoPro
has a commitment to the extreme sports community and a younger, active
generation. Price is directly related to what each of the 3 versions of camera
offer the consumer. The GoPro Hero 2 comes in three varieties: Outdoor,
Motorsports, and Surf editions (Branded with Fire). These options clearly show
GoPro’s commitment to the extreme sports community and demographic (Loboda,
2012).
c.
Psychographics
GoPro
consumers are more than just extremists living on the wild side. Most of the
users of GoPro, even those who favor the videos but are not owners of the
device, all share some common interest. Images that are captured from the
user’s point of view helps the audience connect with that event almost as
closely as they could if they were there themselves. GoPro users enjoy the
beauty that can be seen when the waves are crashing down or the look on a
child’s face when they’re reconnected with their father home from war. Consumers
of GoPro also share in the awareness of some of the images that were recorded.
A tiger being released into the wild or a South African Zookeeper kissing an
endangered species captured in the wild. GoPro has something for everyone so it
is important to understand that if it can be recorded, others can connect with
it.
d.
Stakeholder’s
Characteristics
Anyone
who has an interest in GoPro, wants to have an impact on the company, can stand
to lose or gain on their investment.
e.
Primary
Shareholders,
Managers and Employees, Customers, Suppliers
f.
Secondary
Local
Residents, Funding Organizations, Community
Video: GoPro CEO Nick Woodman discusses investment opportunities and GoPro going public on NASDAQ
2. Strategic
Target Audience
a.
Proposed
Primary Target Audience
The
proposed primary target audience would be the experiencers. According to VALS,
“Experiencers quickly become enthusiastic about new possibilities but are
equally quick to cool. They seek variety and excitement, savoring the new, the
offbeat, and the risky. Their energy finds an outlet in exercise, sports,
outdoor recreation, and social activities” (VALS, 2015). Advertising,
marketing, and integrated brand promotions should be targeted at both male and
female, ages 18-35 that are active, seek out adventurous travels. “Our customers include some of the world’s
most active and passionate people” (GoPro, 2015). These consumers tends to be early adapters of
new technology, enjoy traveling and discovering new destinations, are willing
to spend their income, and are willing to document their goals, travels
and hobbies and share them on social
media. These consumers are also easy decision-makers, brand loyal, and favor
quality over price.
b.
Proposed
Secondary Target Audience
The Proposed Secondary Target Audience would be
Strivers. This is the young adult category between the ages of 18-21. “Strivers
are trendy and fun loving. Strivers are concerned about the opinions and
approval of others. Money defines success for Strivers, who do not have enough of
it to meet their desires. They favor stylish products that emulate the
purchases of people with greater material wealth” (VALS, 2010). They tend to
travel with their friends and companions on trips that fit their hobbies and
interests. This group typically uses social media more and shares their life
online. This secondary group does not typically have the income that
experiencers do, so in order to win over the secondary market GoPro would need
to show them why purchasing their camera will be beneficial.
References
Burrows,
P. October 19, 2012. GoPro Widens the View of Its Consumer Base. Bloomberg. Retrieved from http://www.bloomberg.com/bw/articles/2012-10-17/gopro-widens-the-view-of-its-customer-base
GoPro.
(2015). About Us. Retrieved April 27, 2015, from http://gopro.com/about-us/
Loboda,
S. December 5, 2012. GoPro’s Analysis of the Internal Environment- Market
Strategies and Financial Performance. Marketing
Talk. Retrieved from https://marketingtalkblog.wordpress.com/2012/12/05/gopros-analysis-of-the-internal-environment-market-strategies-and-financial-performance/
VALS.
(2010, February). Young Adults and the financial crisis. In Strategic Business
Insights. Retrieved April 26, 2015, from
http://www.strategicbusinessinsights.com/vals/free/2010-02yngadultsfincrisis.pdf
VALS.
(2015). VALS Types. In Strategic Business Insights. Retrieved April 27, 2015,
from http://www.strategicbusinessinsights.com/vals/ustypes/experiencers.shtml
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