Marketing Plan For A Marketing Strategy

1241 Words Sep 17th, 2015 5 Pages
long road ahead if they are to barge into the media market. However, their innovations and passion for their products leave no doubt in my mind, they will succeed.
Table 1
GoPro SWOT analysis
Strengths
Strong brand
Strong athlete endorsers
Viral Marketing
Innovation Products
Durability Weaknesses
Specific products
Expensive accessories and products
Increased competition
No flash

Opportunity
Global market is increasing
Content delivery technologies
Media hosting
Viral marketing Threats
Hardware company competition (Sony)
Media company competition (Facebook)
Note. The GoPro SWOT assessment of external and internal environmental elements.
5.0 Marketing Strategy and Goals
The goal of this marketing plan is to leverage existing social media
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By targeting the marketing efforts for GoPro’s market segments, the marketing efforts are focused on building consumer value.
GoPro’s demographic segment is targeted to sports enthusiasts with an above average income. The Psychographic segment is comprised of action sports enthusiasts that want to share their adventures with others, who are proud of their lifestyles and have a fun-loving self-image. Therefore, having social media and marketing materials that consist of fun, energetic and adventure filled content will appeal to people self-concepts, where the consumer wants to be like the people in the marketing material.
6.2 Targeting. The target market for GoPro with their expanding hardware and software product mix, opens the door to the global digital photography market. The market is projected to continue growing and reach $82.6 billion in 2016 (Transparency, 2015). Within the digital photography industry, action sports cameras are becoming more diverse and affordable. The latest GoPro Hero product is $149, targeting the lower income consumers. 6.3 Differentiation. The GoPro products offer the highest level of video quality and durability in action camera industry. GoPro is different from the competition because they only have action sports cameras. From a consumer’s perspective, purchasing a GoPro feels fulfilling, often motivating the consumer to take on adventures to
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