Business Strategy - Go pro

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[...] Strategy Prioritization • Prioritize strategy to achieve a strong and stable financial base. Diversity their product lines and gain commercial competitiveness Go Pro Evaluation Internal Analysis Current Key Issues & Challenges Strategic Conclusion Recommendation 2 Situation Go Pro Ecosystem • Little integration between their hardware and software • Offerings act as standalone components • Results in low utilisation of the GoPro app and a loss of monetization opportunities. Overview of Integrated Platform To tackle this issue, we propose that GoPro designs an application which acts as a one-stop platform that meets all of users' needs to capture, manage, edit, store and share videos. [...]

[...] of cameras sold (‘000) Nick Woodman Founder & CEO Methodolo 2017 Revenue ‘000) △ No. of cameras sold Key Management (YoY) 34.6% Hypothesis Overview 2016 Corporate Product Service Brian McGee CFO Our 27.1% -27.7% Sharon Zezima SVP, Business Development Competitor - George Brown SVP, Corp Comm & Govt Affairs Recommendati High Cost Leadership Broad Differentiation Focused Cost Leadership Focused Differentiation Low Competitive Scope Business Level Strategy Cost Hypothesis Overview Methodolo Corporate Strategic Position Product Differentiation Service Our Competitor Recommendati Strategic Group Mapping of GoPro Hypothesis Overview Methodolo Corporate Product Service Our Competitor Recommendati U.S. [...]

[...] Submit yours here – we'll pick our favourites and share them with the world. You might even win Video of the day GET STARTED > Go ProPoster – CaptureExternal GoPro's The New Perspective Internal Analysis • Utilizing core competencies of GoPro User Generated Content Marketing (Global) • Attract millennials and drive the sales of the newly collaborated phone • Targeted at millennials who are not extreme sports enthusiastic but are adventurous and craves for social media engagement • Tap on GoPro's 38 million social media followers across platforms • Showcase new functionality of the collaborated smartphone User Generated Content Marketing (China) • Partner up with China social media company Overall Aim - Boost the sales of the new product and convert non-action cameras to potential GoPro's action camera by showcasing the GoPro's expertise in image stabilizing and lens technology Current Key Issues & Challenges Strategic Conclusion Risk Management Strategic Alliance with a smartphone manufacturer MR1 - Partners engaging in activities outside of the scope Mitigation • Form joint management team from executive levels • Set intermedia KPIs and Goals • Joint team to provide timely update MR 1 MR 2 Impact MR3 Probability Go Pro External Internal Analysis MR2 -Partner withholding key technologies Mitigation • Conducting due diligence during partner selection • Bad records of stealing proprietary technologies to be avoided MR3 – Tensions from clashing of cultures Mitigation • Conflict channel to be set up by joint management team • Ensure to be resolved promptly Conclusion Current Keyconflicts Issues & Challenges Strategic Contingency Plan Creating an Integrated Ecosystem The GoPro Ecosystem Capturing Hardware Smartphone Managing & Editing Mobile Applications Video Editing Managing Data Go Pro Sharing External Social Media Go Pro Community Internal Analysis Current • Propose to follow recommendation of creating an integrated ecosystem • Second highest scoring on our decision matrix • Ease of Implementation by utilizing core competencies • Resolve overreliance on hardware sales • Enhance values to the users by creating user stickiness to the system Key Issues & Challenges Strategic Conclusion Thank You Appendix - Competitor Analysis Action Camera Product Feature & Pricing Comparison GoPro HERO6 Black Garmin Virb Ultra30 Sony HDR-AS300 Action Cam Drift Ghost 4K YI Technology 4K Action Cam Megapixels 12MP 12MP 12MP 12MP 12MP Resolution 4K 4K 4K 4K 4K Video Stabilization Wifi & Bluetooth Touch Screen (Remote Control) Voice Control  (Limited) Component Manufacturers Qualcomm, Ambarella, Socionext, Zeiss, Sony N.A. [...]

[...] Need to take into consideration during the design process to prevent potential infringement Key Issues & Challenges Strategic Conclusion U.S. Action Camera Industry Porter's 5 Forces Model Analysis Bargaining Power of Buyers Moderate Buyer Power High Threat Of Substitutes Rivalry among Existing Competito rs Bargaini ng Power of Supplier s Competitors provide a vast range of products at different price points Price and feature comparisons Switching costs between different action camera Brand loyalty Moderate Supplier Power Threat of Substitut es Threat of New Entrants Overall Attractiveness of Action Camera Industry is LOW – MODERDATE. [...]

[...] Disposable personal income has been increasing as well – Boost consumer confidence and encourage spending Fed has cut interest rate to the range of 1.75% – 2.00% - Lower cost of financing for companies Internal Analysis Current The rise of social media penetration has fuelled the population's desire to engage in extreme sports. Positive for action camera players. Growth in need for people to share their content through social media platform to garner attention and validation. [...]