Gopro research

However, currently that growth has constantly slowed down because of many emerging market issues. One main issue that has really led to this sudden reduction in growth is competition. GroPro currently faces stiff competition from companies such as Sony, Garmin and Polaroid who offer substitute products at a low prices. Unpredicted customer’s needs and preferences is another emerging market issue facing GroPro Inc. Wilkenfeld GroPro Vice President of Integrity Brand asserts that “One of the biggest challenges of developing technology is getting ahead of consumer and developing things that you think they will need. Other market issues presented in the case are target market identification and product positioning or timing. Execution of new product development process at GoPro The success of an organization in countering competition highly depends on the methods it adopts.

Product development is one of the best ways of countering competition especially generic type of competition. Product development refers to the creation of new or different features which offer new or additional benefits to the consumer. It may involve the modification of an existing product or the designed and manufacture of entirely different product which fulfils newly defined consumers’ needs or market gap. The points of difference or unique attributes of GoPro Products. There are many points of difference, or unique attributes for GoPro products. These products are specifically designed to be hands free so you can focus on your "passion" rather than worrying about how the image or video looks on the screen. GoPro products are typically strapped to your wrist but can also be mounted unlike typical hand held cameras, some of their mountable products are the Helmet HERO, Motorsports HERO, and the Surf HERO.

GoPro products have other unique features that help them stand out from other products, features such as removable battery packs, video editing tools, a GoPro app, and Wi-Fi remote controls. The next step is screening and evaluation of ideas to determine if they are worth further time and effort. GoPro will assess a variety of quantitative requirements of new technologies and assess qualitative aspects of new ideas. Once an idea is approved, GoPro will start its business analysis step. The company must keep in consideration the possibility of cannibalizing sales of its own products. The amount of time needed to reach break-even points and the likely timing for competitors to respond to new products must also be considered. First, they avoided the failure reason "insignificant point difference".

GoPro has been very effective in making their products stand out from all the rest. GoPro has helped emphasize the unique features of their products, cameras that are able to be worn or mounted, as well as other features such as removable battery packs, video editing tools, a GoPro app, and Wi-Fi remote controls. The company has also avoided the cause of failure of "poor product quality". GoPro products go through numerous steps of quality control. Furthermore, they have avoided the failure reason "incomplete market and product protocol before product development starts. " GoPro specifically created their products knowing that there was a demand for this type of camera. They knew that this product could satisfy the needs of athletes who were not satisfied by other ordinary cameras.