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Brand management project gopro camera
- 1. Presented by: Eki Lau Hardy Ou Stella Chen Xizhu Xiao
- 2. Fun Strategic Result Driven
- 3. Introduction
- 4. Objectives To define the brand positioning of GoPro in order to identify areas of success and recommendations for long-term growth.
- 5. What is GoPro? GoPro is a brand of wearable cameras, such as helmet and wrist cameras, that allow users to capture their adrenaline-pumping action with high-definition video/photography.
- 6. Brand Background Mission: To make it possible for people to capture and share professional-quality footage of their most exciting, meaningful moments with others. 2002 – Founded by Nick Woodman
- 8. Brand Elements Name: GoPro Tagline: Be a Hero. Slogan: Wear it. Mount it. Love it. Logo: Evaluation Memorable Meaningful Likable Transferable Adaptable
- 9. • Active, young and love traveling Consumer Analysis Blah Sports/ Extreme Sports • Thrill seekers • Professional athletes Entertainment Family • Filmmakers • Journalists • Gadget fans
- 10. Competitors Analysis Direct Competitors Indirect Competitors Substitutes
- 11. Brand Exploratory Compared to direct competitors • Basic feature of a wearable camera (portability, waterproof, shockproof) • Wi-Fi plug-in • Reasonable price Compared to indirect competitors • Basic features of a camera (picture/video caption, high definition)
- 12. Brand Exploratory Compared to direct competitors • Community engagement • Lightweight • Durability • User-friendly software and app • High quality Compared to indirect competitors • Reasonably priced (compared to professional cameras) • Wi-Fi plug-in • Extreme-sport friendly (higher quality action capture, waterproof, wearable)
- 13. CBBE Resonance Empower fans Active engagement Judgments Feelings Excitement Social approval High quality Unique Performance Imagery Most durable Adventurous Salience Strong brand recognition and recall Top of the hierarchy structure Stays relevant in the market
- 14. Brand Planning
- 15. Product Strategy Perceived Quality (Tangible) • Reasonable price • High performance (quality, durability, reliability) • Sleek design • Premium mounting accessories • Cutting edge technology (3D feature) • Varying satisfaction among customers Perceived Quality (Intangible) • A cool and extreme lifestyle (abstract product imagery) • A sense of belonging to a “professional and adventurous” community
- 16. Product Strategy After marketing • Complementary products • Great customer service • Helpful online support forum • Opt-in newsletter • Community engagement
- 17. Pricing Strategy • Affordable price • Similar to its competitors in the digital cameras market • Not trying to compete in the professional market Price Segmentation Competitive pricing • $199/$299/$399 • Price varies by products’ capability and accessories Sell Complementary Products • Mounting accessories and cameras
- 18. Channel Strategy Indirect Channels • E-commerce • Retail stores • Specialty stores Information Entertainment Global buyers Relevant buyers Partnerships Brand ambassadors No standard service Direct Channels
- 19. Marcom New Media Advertising Promotion Events Social Media PR/Publicity • TV ad - Super Bowl ad - 2013 Dubstep Baby - 2014 Space Freefall • Place advertising - Man in the Wild - Virgin America • Point-of-purchase - Best Buy • Trade Promotion - GoPro trade shows • Consumer Promotion - daily giveaways - photo contests • Sport events - X Games - Olympics • User-generated content • Buzz marketing • High community engagement • Media interview • Earned media - CEO storytelling • Celebrity endorsement - skateboarder Ryan Sheckler
- 20. Personalized Marketing Experiential Relationship Permission • Sensory videos (from music to 3D footages) • Problem-solving (document action sports) • Promote the extreme sport lifestyle • Connecting consumers in the “hero community” • Brand ambassadors • Permitted customers’ videos • Opt-in newsletters
- 21. Recommendations
- 22. Recommendations Increase GoPro’s brand relevance in the family segment • Add family-focused accessories • Add family-focused core products (i.e. GoProKids) • Increase family users’ engagement in social media
- 23. Recommendations Further strengthen community loyalty • Establish a social platform on the website • Add new social elements • Launch a reciprocal program • Involve the customers in cause marketing campaign - e.g. The Chive Community
- 24. Recommendations Improve and personalize customers’ experience • Sampling • Open retail stores/booths at unique places • Personalize products • Offer online chats and one-on-one video-editing workshops
- 25. Recommendations Differentiate GoPro through pricing • Position itself as the market leader through premium pricing • Offer bundle pricing to encourage purchase
- 27. KPIs Platforms Quantitative KPIs Qualitative KPIs Tracking/Frequency Advertising - TV commercials - Billboards • Household coverage • Impression/exposure/conversion rates • Gross Advertising sales • Awareness of publication • Advertising value (ROMI) • On project base • Monthly Promotions - Trade shows - Bundle Pricing • Website Traffic/Landing Pages • New Members/ # of conversions • Referrals/Recommendation • Coupon conversion percentage, activity, # of clicks and orders • Sales revenue, Conversion rates • Social Media Buzz (# of posts, likes, etc.) • Perceived value of products • Awareness of promotions • On project base • Monthly Event Marketing and Sponsorship • PSA Inserts (TV, radio, print) • # of attendance @ events • Website traffic/landing pages • New members/# of conversions • Response rates to sponsorship/event-related promotions and ads • Product sales • Perception of products and services • Awareness of brands/events/sponsorships • Degree of brand associations • On project base • Monthly Public Relations • Coverage (news releases, media stratification, blog mentions, analyst mentions) • Exposure of the brand and key messages • Response rate • Social media buzz • Key messages perception analysis • Favorability of brand and products • Placements analysis • On project base • Hire PR firm • Track different categories of media
- 28. KPIs Platforms Quantitative KPIs Qualitative KPIs Tracking/Frequency Personal Selling - Retail stores - Themed stores • In-store revenue • Repeat sales • Frequency of customers coming to the stores for help • Time it takes to help a customer • Perception of products and services • Advertising value (ROMI) • Satisfaction rate of customer service (call center/website live chat/in-store help desk) • Cover all touch points • Weekly Social Media • # of visitors to website • Time spent on website • Frequency of adding new content to website • # of Facebook and Twitter followers • # of video views • # of Facebook and Twitter posts • # of shares and likes • # of comments posted • Engagement of existing and potential customers • Content of posts: positive or negative • Feedback received from community and supporters • Marketing effort and budget adjustment • Testimonials from customers • Internal digital marketing team • Internal and external cooperation • On a monthly base Customer Insight • Customer satisfaction scorecard • New vs. returning customers • Lifetime value • Likelihood to recommend the product and services • Perceptions about GoPro and key competitors • Performance evaluations of the company’s products and services • Annually
- 29. Wrap it up 2002 2014 2004 Current achievements • From 35mm film cameras > the fastest growing camera company • Strives to provide the best capturing tool • An engaging community of avid loyalists • Immensely successful with our brand Going forward … • Expansion to new markets • Deepen community loyalty • Improve customers’ experience • Differentiate itself from ordinary cameras • Become a successful global brand
- 30. Future Growth Go Global Other Considerations • Timing: mature US market • Resources • Cost • Risk: - Control of marketing communication - Cooperation with distributors or local retailers - Investment
- 31. Hire US. We are fun, and we reach GOALS.
Hinweis der Redaktion
- As the name suggests, GoPro stands for “go professional”. The name and tagline are memorable, meaningful, and likable to its target consumers because they sync with the audiences’ desires to “GoPro” and “Be a Hero” in their field of interest. Also the name, tagline, and logo are made transferable since consumers of different professions can relate their aspirations with GoPro. GoPro’s logo appropriately uses 4 boxes of different color shades to demonstrate different uses for its product.
- Sports/Extreme sports Who: Thrill seekers (Skydivers, mountain bikers, motorcyclists) Professional athletes (snowboarders, surfers, Olympians) Characteristics: active, outdoorsy, leaders, love traveling Need: Capture and share their adventurous moments on the Internet They want to be recognized as a hero in their community Entertainment Who: Filmmakers, journalist and adget fans Characteristics: creative, innovative product explorers Need: They want to use GoPro to capture creative moment from special angles and add them into their work. Family Who: Active and outgoing family Characteristics: social media junkie, fun, outdoorsy, like travelling Need: They want to document and share epic moments of their family. We noted that family is a blue ocean market for wearable camera and GoPro has already tried to step into that market. For example, your 2013 Super Bowl commercial: Dubstep Baby was trying to create resonance with the family market. We will talk more about that into details in the recommendation section.
- Direct competitors Our direct competitors are Sony, Drift and Polaroid. These companies offer high- definition and action-based capture feature cameras as well. However, GoPro kills them and dominate the wearable camera market by having over 90% of the market share. Indirect competitors This segment includes non-action cameras that are moderately priced and possess the basic feature of a camera. Consumers who may not recognize and recall GoPro’s product may use this as an alternative, yet the functionality of these cameras may not support extreme sports activities. Substitutes The likely competitors of GoPro are Apple Samsung and HTC because some customers just think that smartphone camera is enough for them.
- We think POPs and PODs of a company are not absolute but relative. That’s why we created POPs and PODs compared to GoPro’S direct and indirect competitors.
- Community engagement We define GoPro as a social business instead of a social media company. The differences between them is that social media company just post stuff on social media and promote their brand. But social business creates two way communications, and encourage user generated contents. Also everyone, not just the marketing team, in social business is responsible for the conversations with customers. That’s what exactly GoPro is doing right now. And the rest of the PODs are lightweight, durability, user- friendly software and app and high quality. Comepared to indirect competitors, the PODs of GoPro are We have a reasonalbe price compered to professional cameras that cause average over 1000 dollars of each Extreme- sport friendly (GoPro is compatible with a lot of sports accessories, such as ski helmet)
- Customers don’t always know what they want. So it is hard for trend setter, like GoPro to convince them that there is a need for wearable camera. How do they raise the brand awareness and foster the brand knowledge in customers’ mindsets. (1) Strong brand recognition and recall GoPro grows its brand recognition and recall through various channels such as viral videos promoted through social media, word of mouth, event sponsorship (i.e. X games) and product placement in BestBuy, Walmart, Amazon and more than 100 countries. (2) Top of the hierarchy structure GoPro develops strong brand awareness by introducing a new category—wearable, action-based camera—in the hierarchy product structure and becoming the brand champion of that category. There were only two camera categories: professional and regular digital camera. Therefore, GoPro becomes the first product that comes to people’minds when they think of wearable cameras. (3) Staying relevant in the market GoPro stays relevant in the market by inventing various accessories and encouraging user-generated contents on social media to promote different usage situations. For example, I thought it might be only used for skiing and snowboarding. After watching some YouTube videos posted by GoPro customers, I know that it can be used for various usage situation as well. For the Resonance, I would only say, there are only two companies that are good at engagement. The first one is GoPro, the other is Red Bull.
- Perceived quality (tangible) Reasonable price - Consumers consider GoPro’s camera as an affordable alternative to professional cameras to document extreme sport footage (i.e. Professional cameras generally cost more than $1000, which makes users perceive the price of GoPro’s products as reasonable). High performance - With the positive feedback from word of mouth and professional technologists, most consumers perceive GoPro’s cameras as high performance products that are extremely reliable and durable. Premium mounting accessories - GoPro’s offer of premium mounting accessories gives it a competitive edge, with customizable functions that can be used with a variety of extreme sports. Cutting-edge technology - GoPro’s continuous innovation is one of its strongest strengths over its competitors. It stays relevant to customers’ fast changing needs. For example: the new 3D Hero system that allows users to put 2 GoPro cameras into one shell to take 3D video Varying product satisfaction among customers - Although many users are extremely satisfied with the high quality footage of GoPro camera, some users are not as content because they are unable to make videos that are as cool as GoPro’s official videos shown on its website or TV. Some customers may have high expectation to get high quality footage prior to purchase, but get disappointed with the shooting outcome because of different levels of shooting and editing skills or a lack of understanding on how to effectively use GoPro camera. It is important to note that this may not be a quality problem of GoPro per se, but it does leave room for improvement. *Note: Our suggestion to this challenge will be discussed in the following section. Perceived quality (intangible) A cool and extreme lifestyle (abstract product imagery) - Using GoPro is a sign that you have a fun and cool lifestyle that enables you to document and share all the exciting moments you have experienced. A sense of belonging to a “professional and adventurous” community - If you are a GoPro user, the first impression of others is that you are probably a snowboarder or extreme motorist. Using a GoPro camera means to consumers that they belong to an active, outdoorsy community that shares the same dream.