Attached case study guidelines & initial version of the case study. Should be improved according to the feedback.
Incomplete work, descriptive. Some parts are out of focus. Point 3 missing the application of Roger’s model to the case. Point 4 is not complete. Point 5 missing the application to the case. Point 6 missing.
MKTG765 – Marketing New Products
GoPro, Inc. is an American tech company that makes and sells cameras, drones, and mountable and wearable ruffle the world over. The company was once known as Woodman Labs, Inc. besides, changed its name to GoPro, Inc. in February 2014. GoPro, Inc. was set up in 2004 and is gotten comfortable San Mateo, California.
GoPro offers cloud related HERO7 Silver, HERO7 Black, and HERO8 Black waterproof cameras; MAX, a 360-degree waterproof camera; GoPro Plus, a cloud-based limit game plan that engages endorsers of access, modify, and share content; Quik, a work region changing application; and GoPro App, an adaptable application that moves a customer’s GoPro photos and video catches to a phone, similarly as grants customers to mix and match channels for a movable adjusting experience. It moreover offers mounts and embellishments including gear based mounts involving defensive cap, handlebar, move bar, and stand mounts that enable purchasers to wear the mount on their bodies, for instance, wrist lodgings, chest outfits, and head lashes; and concealed camera sleeves, spare batteries, bounce channels, and charging enhancements and connections. GoPro, Inc. markets and sells its things through retailers and wholesalers, similarly as through its Website.
For the a half year completed 30 June 2020, GoPro Inc wages lessened 53% to $253.6M. Overal shortfall extended from $35.7M to $114.5M. Salaries reflect Americas partition decrease of 45% to $139.9M, Europe, Middle East and Africa (EMEA) segment reducing of 58% to $64.6M. Higher overal deficiency reflects Restructuring Charges increase from $314K to $7.2M (cost), Restructuring Charges increase from $556K to $2.5M (cost).
Gopro Business Model Canvas
GoPro is a disruptive innovation. By collecting existing innovation in another manner, Woodman built up a little, compact and flexible camera with the innovation capacity to catch proficient quality film into rewindable recollections. The indestructible hardware and science behind it built up another market as a troublesome development for existing camera makers like Polaroid and Sony. The wearable and conservative camera immediately developed into a faction following of experience searchers.
Woodman’s business range of abilities formed into an unmistakable plan of action which added a substance advertising part to GoPro’s stand-apart beginning. Public video locales and web-based media outlets gave individuals a stage to pick up exposure and acknowledgment by others, and GoPro made such substance (Dwesar and Singh, 2019). GoPro supported creation and sharable encounters, cooperating with their clients by using channels like YouTube for the GoPro people group to arrange novel real factors. GoPro’s web-based media adroitness turned into an amazing promoter with little cost, that before long dispatched GoPro video features, grants for uncommon client substance, and associations with proficient competitors and classes.
GoPro has introduced a new product to the market and also a new service for its users. Innovation is behind almost everything GoPro has designed. The improvement of the materials already donated, the creativity and the originality of the product directly follow the definition of “innovation”. By analyzing the products, it follows that GoPro has made both an evolution of the product, an evolution of the design as well as a technological evolution.
The first phase of experimentation for GoPro was carried out primarily by its CEO Nick Woodman and his closest staff. In this “fluid phase”, as one might call from section I under “Production phase”, the first model of the GoPro was very straightforward. He used a 35mm film that can be wrapped around the wrist, it was a lightweight camera that had immediate success, with discreet photo resolution and excellent underwater performance. Testing continued and the ambition of the Gopro team brought the company into the “transition phase” where it emerged as a dominant design for the company.
The big transition for GoPro has certainly been the switch to digital cameras, which has created a unified compact camera and opened the door to the internet and social community.
Like every product/service, Gopro also went through the product lifecycle. Below is the analysis of how GOpro evolved overtime from entering the market to decline stage.
The GoPro has undergone some serious evolutions since its inception in 2004. And it has, in recent times, picked up a few nifty upgrades to continue impressing enthusiasts and adventurers the world over. So let’s take a trip down memory lane and recall the past versions of the GoPro:
GoPro Hero 35 MM
The first GoPro was actually a 35mm film camera dubbed the GoPro Hero. It was an underwater camera that came with a wristband attachment and a sturdy polycarbonate housing. Depth-tested to reach 15 feet or 4.57 meters, it also had a free ISO 400 roll of film good for 24 exposures.
GoPro Digital Hero
Convinced by his friends to go digital, GoPro founder Nick Woodman went to work on his next product, the GoPro Digital Hero. The camera, released in 2006, can shoot 10-second VGA videos in 10-second bursts. Unfortunately, it had no audio recording capabilities, which resulted in mixed reviews from users.
GoPro Digital Hero 3
Listening to the demands of the GoPro fanbase, Woodman released the next generation of waterproof Hero cameras in 2007. The GoPro Digital Hero 3 upped the ante in terms of video and audio quality. It now featured a 3-megapixel camera with a video output of 640×480.
GoPro Digital Hero 5
2008 marked the beginnings of the next phase of the GoPro’s evolution. The company released the Digital Hero 5, the first GoPro model with a wide-angle lens. It was also the first GoPro that allowed users to mount the camera on various surfaces for different activities. This gave rise to a plethora of online videos featuring panoramic shots of people skiing, diving, or cycling. Other exciting features for the Digital Hero 5 included a 3-frame burst mode, the ability to capture 54 minutes of video with sound, and a 5-megapixel sensor with glass lens.
GoPro Hero HD
And then came the GoPro Hero HD. It pushed the envelope for action cameras, as it was able to produce 1080P video using a 127° wide-angle lens. It’s then no surprise that the 2010 was one of the biggest years for the company, as they closed the year with a revenue of $64 million.
GoPro Hero 2
Fresh from their success in 2010, Woodman and the rest of his team released the GoPro Hero 2 in 2011. This camera is an improved version of the GoPro Hero HD, boasting of a camera capable of capturing 11-megapixel stills and 1080P videos at 30 frames-per-second. The biggest difference, however, is addition of a new feature: the ability to capture video in low-light conditions.
GoPro Hero 3
The company once again wanted to test the boundaries. Hence, in 2012, they released the lighter GoPro Hero 3. This action camera offers users various camera modes, with a video output of 1080P at 30fps, 960P at 48 fps, 720P at 60 fps, and WVGA at 240 fps. The Hero 3 also comes with a waterproof housing rated for 197 feet, built-in Wi-Fi connectivity, and more.
GoPro Hero 3+
In 2013, GoPro made a few changes to the Hero 3 and re-released it in the form of the GoPro Hero 3+. This action camera retained all the improvements of the Hero 3, and came with an improved waterproof enclosure that’s 15% smaller and 20% lighter than the previous generation. It also featured better battery life and a wind noise reduction system, which helped in recording crystal-clear audio. Consumers also got to choose between the Black version or the Silver version, each with better specs than their predecessors.
GoPro Hero 4
In September 2014, GoPro introduced the Hero 4, which came in Black and Silver editions. Both versions retained the previous model’s 12-megapixel camera, but gained some nifty upgrades. These included a f/2.8 fixed maximum aperture function, Bluetooth connectivity, a mono microphone, and an even better low-light setting. The Hero 4 Black edition also boasted of 4k video output, with frame rates ranging from 24, 25 and 30 fps. Meanwhile, the Silver edition had a touchscreen for better user control.
GoPro Hero+ LCD
To match the times, GoPro’s 2015 release—an upgrade of the original Hero HD—also added touchscreen functionality. The GoPro Hero+ LCD lets users record videos or take photos at a higher resolution, with a video output of 1080P at 60 fps. Meanwhile, photos are taken with its 8-megapixel camera and can be previewed using the touchscreen. The LCD touchscreen also lets you edit photos instantly, which comes in handy when outdoors.
While there were reports of dropping sales for the GoPro cameras, the company is not slowing down. Innovations are on the way, such as the GoPro Karma Drone, which is slated for release this 2016. As you can see, there’s a lot of development from the first GoPro that used traditional film to the ones that we have today. And with new models still slated to be released in the coming months, there’s still a lot to look forward to.
Proposal in Innovation Process:
Gopro once innovated the action camera and re-shaped the industry of photography for professional or leisure athletes, travellers and other adventurers. However, for a company like GoPro to sustain in todays fast paced economy, it should keep innovating continuously to be the leader in that segment. Currently there is a rise in competition to overcome. Below are the few cases that I believe GoPro should concentrate on
- Cannibalisation of its own products with cheaper cameras and not able to keep in pace with the demand of the consumer requirements in terms of software and other updates.
- While trying to diversify, Gopro missed the market as it was not able to launch or relaunch the products on time. For example – the Karma drone design fault took time to rectify and failed to catch the market.
- Gopro should focus on the future of photography, future of the cameras rather than sticking to todays innovation.
- The process of innovation at GoPro should be well managed by using prototyping or other methodologies.
- GoPro should adapt to the drastic change in the market place by bringing more mobile integrations and better software solutions.
- By creating a simple user friendly product and its related software helps GoPro to recapture the market.