GoPro is one of the top-rated companies in America that constantly pushes itself to be in the best position in the competitive market of technology. A GoPro SWOT analysis will help look at the strength of the company. The company additionally offers its items to explicit verticals in the US through merchants. It has a business presence in the US, Australia, Germany, Hong Kong, Japan, the Netherlands, the UK, France, China, Romania, and different nations in Asia and Europe. GoPro is settled in San Mateo, California, the US.
GoPro Inc. plans to create and advertise cameras, mounts, and extras. The company likewise offers work area applications, cloud-based membership administrations, and versatile applications to catch, oversee, and share content. It sells straightforwardly to autonomous-strength retailers, huge box retailers, and mid-market retailers in the US and Europe, as well as through its web-based business store, gopro.com in a SWOT analysis of GoPro.
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GoPro SWOT Analysis: At A Glance
| Company Name | GoPro, Inc |
| Industry | Videography, Consumer Electronics |
| Founded | 2004 |
| Founders | Nick Woodman |
| CEO | Nick Woodman |
| Headquarter | San Mateo, California, U.S. |
| Annual Revenue | $1.18 Billion (FY 2017) |
| Website | www.gopro.com |
GoPro SWOT Analysis
The estimation of the SWOT investigation can’t be emphasized enough. The value of SWOT examination is frequently reliant on the target understanding of those administration people who lead the SWOT investigation. If administration (or expert administration) can give evenhanded, applicable data for the examination, the outcomes are amazingly valuable for the company.
It is appropriately said, “Winners perceive their restrictions, however, center around their qualities; failures perceive their solidarity yet center around their impediments.” Positive reasoning is a strength, while negative reasoning is a weakness. A GoPro SWOT analysis will assist in determining the company’s current position as well as assessing its business prospects and future growth.
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GoPro SWOT Analysis Strengths
First off in the swot analysis chart, we should analyze the strengths of GoPro. The necessity of knowing a company’s strength is abundant. As one of the most reputed camera production companies, GoPro has some solid strengths:
Brand Awareness: The best promotion is still word of mouth. The consumers of GoPro express their satisfaction with the product highly which eventually increases the brand’s reputation. Hence, the GoPro team has successfully created positive brand awareness.
Competitive advantage: GoPro has the best live-action camera quality, which is why many filmmakers and athletes trust it. They’ve gained a lot of value through their services.
Strong alliances: They have another competitive advantage, which is called having strong partnerships. Their stronger associates give them an edge over other companies in the global market and put them in the top position.
GoPro SWOT Analysis Weaknesses
The weaknesses or areas to be improved are discussed next in the GoPro SWOT analysis. Improving the shortcoming can help them to have the high ground over their nemesis in the competitive market. For any company, it is crucial to focus on their shortcomings. Top-of-the-line brands like GoPro additionally have a few shortcomings and imperfections, and they prevent the company’s development to some extent.
Ineffective third-party integration: Their third-party coordination is ineffective, which has seriously affected their development.
Poor R&D Investment: GoPro needs to put more into its R&D to acquire new results of various reaches.
Poor Financial Arrangement: The company’s poor monetary planning prevents them from planning. The company spends more on its showcasing and arranging, which they might have spent on getting new items.
Price point hazard: GoPro items are more expensive than other comparable camera items. Even though the cameras’ quality is satisfactory, the brand’s opponents sell a similar-quality camera at a lower price. It is driving a few clients to contenders.
GoPro SWOT Analysis Opportunities
GoPro swot analysis offers the brightest part of the opportunities offered by GoPro.For huge companies like GoPro, it is simpler to distinguish and utilize these chances for their development. They can utilize these chances for their turn of events. Perceiving the chances that line up with the company’s development is a huge piece of its essential planning. Since they have a few numbers to focus on, it is easy for them to think about the chances. Let’s look at them:
Gain Momentum: In a GoPro SWOT analysis, GoPro is now working for certain associates; they can likewise hold hands, forming non-benefit coalitions to acquire momentum.
Expanding to the world of games: Since numerous competitors and sports filmmakers trust the brand, they can utilize the developing business sector in the game world. It will essentially add to their development.
Taking Advantage of Brand Awareness: The brand has a generally high level of brand awareness, and henceforth, the development of actual stores in South Asia markets will assist them with improving their business. They can likewise acquire clients through online stages.
Threats for GoPro in SWOT Analysis
Each swot analysis that has been considered helpful, comes with an extraordinary perspective for threat concern. At present, the business in the technology sector is changing quite frequently. For this, companies with strong R&D teams are pulling all the stops to improve their service. In this situation, stagnation and no improvement can be frightening for any company. There are specific threats for GoPro, but proper planning can help them to survive the situation. Some of the threats for GoPro are listed below:
Customer Care indifference: The client base of the company is restricted, and less sincere customer care can affect their global deals.
Dependency on Area: The company is profoundly reliant on the North American market. The risk laws in various states and nations can hamper their development. In addition, explicit guidelines concerning the climate and these issues can likewise function as dangers to the company.
Lack of Specialists: The company needs gifted specialists who will buckle down for the development of the company.
Scope of Replacement: The presentation of new advancements in the market can influence their interest. Great quality cell phones can likewise substitute the cameras, which is a critical danger to the company.
GoPro SWOT Analysis Overview Template
Conclusion and Recommendations for GoPro
In regards to the recent situation, GoPro SWOT analysis exposes the fact that GoPro, while strengthening its present important sectors, also has the need to use its opportunities. Through strategic planning and expelling its obvious flaws, they can work on the threats with renowned vigor for improvement. Based on the GoPro SWOT analysis, here are some recommendations for the company:
- Its online service of GoPro is in dire need of improvement. The company service can be expanded to Asian lands. As a result, it will disrupt their natural codependency in the North American business fields.
- To surpass the high-end smartphones, the company without a doubt should bring in various more products that can rival those.
- The customer service for this particular company needs serious improvement. They need workers who are dedicated and excel at their work to ensure that the public gets great after-service. Good customer service will inevitably turn more heads.
FAQs for GoPro SWOT Analysis
1. What are the weaknesses of GoPro?
GoPro’s weaknesses include a high product price point, a limited market due to niche product focus, competition from smartphones with advanced camera features, and a dependency on the action sports market which limits broader audience appeal.
2. What is the main target market of GoPro?
GoPro primarily targets adventure sports enthusiasts and professionals who seek high-quality, durable cameras for capturing action-packed footage. This includes surfers, skiers, cyclists, and extreme sports athletes who value the brand’s robust and portable camera technology.
3. Why did GoPro fail?
GoPro faced challenges due to market saturation, increased competition from smartphones with improving camera capabilities, and a narrow product line that struggled to appeal beyond its core market. These factors, combined with strategic missteps in marketing and product diversification, contributed to its struggles.
