GoPro Marketing Channels and Brand Strategy for Diverse Markets
Promotional Campaigns: Reaching Diverse Target Markets
Promotional campaigns leverage a variety of channels to reach designated customer groups. Consider two distinct target markets and compare the channels you might use to reach each, highlighting their differences and the underlying rationale. Thorough research is essential for a concrete answer.
For GoPro, two primary customer segments can be identified:
- Sportsmen and Adventurers
- The Average Consumer
Target Market 1: Sportsmen and Adventurers
The first group, comprised of sportsmen and adventurers, seeks to be surrounded by the thrills and enthusiasm of their wildest adventures. For some, the product is utilized to satisfy curiosity about unknown events. GoPro customers in this segment, often referred to as GoPro evangelists, have many different ideas on how to use their valuable product, how to work with it to raise its value, and how to achieve the most desired results. These evangelists focus not only on performing ordinary outdoor activities but also on achieving peak performance, as their product can capture it all. For this group, advertising in extreme sports events such as the X-Games, Olympics, or surf competitions should be implemented to reach the highest number of people.
Target Market 2: The Average Consumer
Second, the average consumer of GoPro products wants to capture self-made action-adventure videos and upload their captures to share with colleagues, family, followers, and friends. They can also enhance their experience by using many accessories, which are also sold by the company. These accessories fit their needs and ensure they can utilize the technology in any environment and setting. For this group, social media channels such as Instagram and YouTube are optimal for promoting the product as an everyday-use camera.
Brand Definition and Market Relationship Building
Define ‘brand’ and explain the role that brands play in developing a relationship with a consumer market, a business-to-business (B2B) market, and a business-to-government (B2G) market.
GoPro is actively developing its consumer and B2B markets.
Brand’s Role in the Consumer Market
A brand is a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers. In the consumer market, a strong brand fosters trust, loyalty, and emotional connection. While many companies now produce wearable cameras, GoPro was the first to enter this market. To maintain this advantage, new innovative ideas should be implemented, such as:
- Integrating cameras with new applications.
- Forming partnerships with companies that produce cameras, accessories, or even mobile phones.
Unfortunately, competitors like DJI have successfully launched drone projects with high-resolution cameras, where GoPro has faced challenges. The company should also target families and ordinary people, not solely professionals, by providing a new line of cameras with more affordable options that meet their diverse needs.
Brand’s Role in the B2B Market
In the B2B market, a brand’s role extends to establishing credibility, reliability, and a reputation for delivering value to other businesses. This often involves demonstrating expertise, providing robust support, and fostering long-term partnerships.
GoPro’s B2B Journey and Strategic Partnerships
Historically, GoPro has engaged in various corporate activities that touch upon its B2B presence. In 2009, GoPro was reportedly acquired by Cisco for $590 million, though this venture was shut down after two years. Later, Foxconn invested $200 million in the company, which contributed to Nick Woodman becoming a billionaire by December 2012. In 2011, GoPro acquired CineForm Inc., a specialized software company. The company subsequently filed for an Initial Public Offering (IPO) with the US Securities and Exchange Commission to become a publicly-traded company.
Building B2B Relationships Through Technology and Service
GoPro should actively seek strategic partnerships, especially in information technology. If the company aims to focus primarily on professionals while neglecting other customer segments, then strategic IT partnerships are crucial. GoPro has started using services such as beta firmware and Adobe plugins to enhance its new FUSION line. However, numerous complaints have been issued concerning reviews on social media and purchase websites like Amazon, threatening the company’s reputation. While GoPro desires customer-friendly services, this remains a challenge because IT is not currently the primary concern within the company’s core operations, impacting its B2B brand perception and relationships.