GoPro Potential Costumers and Competition

We have concluded that GoPro have a niche market because their primary focus is geared towards the action sports community. Whereas other camera manufactures have a wider target market. The GoPro hero meets the needs and wants of it market but our goal is broaden that market to ultimately increase revenue and profit. After doing going through the market segmentation process we have determined that our target market is going to be between the ages of 13-30 with very active lifestyles. They will also be middle class and family oriented mainly focusing on people who want to capture exciting moments in their life to share with family and friends. Will are also including photographers and filmmakers who are looking to capture shots from a point of view perspective. This segmentation will include former, first time, medium, and heavy users of the GoPro camera.

I have also determined GoPro competitors these include contour, Sony, Decathlon, Neo sports camera, Drift Innovation, and Go Bandit. Theses manufactures currently have product that compete directly with the GoPro and are high quality substitutes. However, Samsung, Canon, Nikon, Panasonic, and Olympus also compete with GoPro in the camera market although they currently do not have any action sports cameras as part of their product line these companies are more than capable of developing a similar product that will rival the GoPro. I have also been able to determine the GoPro faces even more competition from smartphones. As smartphone become more and more advance so do the cameras that come with them. As consumers we realize how convenient smartphone are and if we have a phone that is capable of capturing high quality picture and video the need to purchase a second camera begin to diminish. This will is a factor we have be conscious of and in order to differentiate ourselves form the competition and continue to be number one in the market.