Marketing Essay - Gopro
Master of International Business International Marketing Individual Assignment 2012
ESSAY
GoPro - HD wearable camcorder
Margarida Martinho Strand Cohort
Introduction When GoPro, which introduced the first wearable sports cameras, launched its first product, there was nothing like this camera. This product has become a success since it was introduced in the market. What makes it so different from the others that satisfy the same needs? Further analysis about the product is needed to understand the means of differentiation that have the most impact on decision-making. Constructing a sustainable competitive advantage through differentiation strategy is one method, although there are other strategies such as cost leadership, innovation, operational effectiveness, or customer orientation. Differentiation in a product, brand, or service is a crucial factor for a buyer when deciding what to buy. The same product is offered under different competing brands, products that fulfil the same need typically have similar features. Every marketer needs to be aware of what is happening in the market, in order to stay aware of the need to adjust features of a product or to introduce a new one if a gap occurs. In this last case, innovation is the key to differentiation — launching new goods with new features that take into consideration the customer´s needs. The differentiation of goods through key features and minor details is extremely important to increase profits and protect company prices from falling. Products can be differentiated in form, features, customization, performance quality, conformance quality, durability, reliability, reparability, and style. GoPro is a market leader brand and has the advantage of being the first mover. Nowadays, there are some brands that have released HD wearable camcorders – Samsung, Countour, Drift, and Sony. My analysis considers the comparative advantages of GoPro
ESSAY
GoPro - HD wearable camcorder
Margarida Martinho Strand Cohort
Introduction When GoPro, which introduced the first wearable sports cameras, launched its first product, there was nothing like this camera. This product has become a success since it was introduced in the market. What makes it so different from the others that satisfy the same needs? Further analysis about the product is needed to understand the means of differentiation that have the most impact on decision-making. Constructing a sustainable competitive advantage through differentiation strategy is one method, although there are other strategies such as cost leadership, innovation, operational effectiveness, or customer orientation. Differentiation in a product, brand, or service is a crucial factor for a buyer when deciding what to buy. The same product is offered under different competing brands, products that fulfil the same need typically have similar features. Every marketer needs to be aware of what is happening in the market, in order to stay aware of the need to adjust features of a product or to introduce a new one if a gap occurs. In this last case, innovation is the key to differentiation — launching new goods with new features that take into consideration the customer´s needs. The differentiation of goods through key features and minor details is extremely important to increase profits and protect company prices from falling. Products can be differentiated in form, features, customization, performance quality, conformance quality, durability, reliability, reparability, and style. GoPro is a market leader brand and has the advantage of being the first mover. Nowadays, there are some brands that have released HD wearable camcorders – Samsung, Countour, Drift, and Sony. My analysis considers the comparative advantages of GoPro
Cited: 23, 2012). 23, 2012).