Applying the 4P´s of Marketing Mix to GoPro

When creating a marketing mix for a product, the company needs to look at the 4Ps: product, place, price and promotion (Eugene McCarthy, 1960). “When considering the 4 P’s of the GoPro, it is clear that the company’s success has been due in large to such great marketing.” (Suki Chan, 2013)[1].

· Product- GoPro primarily creates cameras, but it also offers mounting accessories and other additional accessories such as camera cases and spare batteries to use as well.

· Price- the prices depend on the quality of the camera. The cheapest is the Hero 3 White Edition at £199.99, and the most expensive is the Hero 3+ Black Edition at £359.99. They offer free shipping around Christmas time to encourage sales. (GoPro website)

· Place- GoPro is available to buy online, however you can purchase some of the accessories in stores such as John Lewis in the UK. There are locations available all over the world though such as Australia, New York and Austria.

· Promotion- In our essay we will be focusing fundamentally on the promotion side of the marketing mix.

Swot Analysis

Strengths

· Unique Products- there is nothing that functions quite like GoPro in the media world

· Technology- GoPro has been able to produce a digital waterproof camera which is relatively advanced compared to others

· Use of social media for promotion- word of mouth and social media help to get the message across and promote the product efficiently

Weaknesses

· Lack of market- GoPro’s target audience is small as it primarily directs sports enthusiasts who are in real need of the product

· Expensive- the price is very high so the product is not likely to be bought on the whim

· Slow at carrying out research- compared to Sony...

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...social media to promote their cause. They use home videos and unprofessional shots for their adverts, which gives them a personal touch.

Reinforce- making the most of their 1,547,934 YouTube subscribers and their 6,800,000 Facebook likes, GoPro do video and photo of the day, which keeps their followers interested. It also keeps it fresh in their memory that GoPro is still proactive in promoting their product.

Inform- these daily videos and pictures are easy to share amongst friends and others, therefore spreading the word even more. They can also be used to inform when there are new models of the GoPro and also informs in ways how you can use it to create unique imagery from different viewpoints

Persuade- through all of their followers on social media, they can easily encourage them to share the videos and photos posted as well as asking them to post their own