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Essay / Applying the 4Ps of Marketing Mix to GoPro - 869
When creating a marketing mix for a product, the company must examine the 4Ps: product, place, price and promotion (Eugene McCarthy, 1960). “When we consider the 4 Ps of GoPro, it’s clear that the company’s success is due in large part to such effective marketing.” (Suki Chan, 2013)[1].· Product – GoPro primarily creates cameras, but also offers mounting accessories and other additional accessories such as camera cases and spare batteries to use as well. · Price - 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 delivery over the Christmas period to encourage sales. (GoPro website) · Place - GoPro is available to purchase online, but you can purchase some accessories from stores such as John Lewis in the UK. There are locations available all over the world, such as Australia, New York and Austria. · Promotion – In our essay, we will basically focus on the promotion side of the marketing mix. SWOT AnalysisStrengths· Unique products – there is nothing that quite works. like GoPro in the media world · Technology – GoPro has been able to produce a waterproof digital camera that is relatively advanced compared to others · Use of social media for promotion – word of mouth and social media helps spread the word message and promote the product effectively Weaknesses · Lack of market - GoPro's target audience is small as it mainly targets sports enthusiasts who actually need the product · Expensive - the price is very high, so the product is unlikely from being bought on a whim · Slow to achieve research - compared to Sony... middle of paper ...... social media to promote their cause. They use home videos and non-professional shots for their ads, which gives them a personal touch. Strengthen - making the most of its 1,547,934 YouTube subscribers and 6,800,000 Facebook likes, GoPro produces videos and photos of the day, which keep its subscribers engaged. This also keeps in their minds that GoPro is always proactive in promoting their product. Inform: These daily videos and photos are easy to share with friends and others, spreading the word even more. They can also be used to notify when there are new GoPro models and also tell you how you can use them to create unique images from different viewpoints. Persuade - thanks to all their followers on social networks, they can easily encourage them to share the videos and photos posted and ask them to post theirs