Market Segmentation |
Go Pro |
Kyle Moore |
Marketing 571 |
GoPro Inc. is an American company that manufactures and markets high definition cameras that have become very popular in extreme video action photography but it doesn’t stop there. Gopro’s products have been flying off the shelf and for good reason. The founder and CEO, Nicholas Woodman came up with the idea while he was on a surfing trip and could not get the video he wanted because the armature photographers simply could not get close enough. This sparked a product that would forever change the way we take personal videos. “We dream. We have passionate ideas about what’s possible in ...view middle of the document...
These markets included surfers, snowboarders, motocross riders, and others of that nature. What Woodman didn’t realize is how applicable this product would soon become. After realizing the potential for this product he soon found himself wondering why he should limit his marketing efforts towards only the sports world when the simplistic function of the product can be used by anyone who wants to capture video. The real promise that this product shows is that fact that is the smallest most mobile video camera of its kind that can be mounted to almost anything or anyone. Once the organization realized the potential use for this the market segmentation didn’t just grow but exploded.
I decided to go with Go Pro simply because there is no defined target market which made this assignment very interesting. I believe that the different aspects such as demographics, psychographics, geographic, and behavioral characteristics of the company are always changing. The core values of this organization are set in the belief that individuals should have the opportunity to their experiences on a day to day basis. From the demographic standpoint the organization does not strictly define a certain age, family size, gender, or nationality which makes this product very beneficial for a marketing strategy. Although a large numbers of the consumers that purchase this product falls into certain demographic it is not limited to it. Males between the ages of 16 and 25 make up a large portion of the market segment. I believe that this is due to the activity level and more applicable experiences one might have use for this product. For example a 22 year old male may enjoy surfing, hiking, bike riding more than 65 year old female which gives him the opportunity to record more video of activities he would wish to save and share. On the other hand the 65 year old female may enjoy sailing, gardening, and spending time with her family all of which are moments that can be perfect for the use of the Go Pro. The difference comes in each individuals want to capture these moments. In an age where social media has taken over a large population of today’s youth, the ability to take these videos and share them with friends has become a major aspect of this product. I believe this has a direct correlation with the demographic set for this company.
When it comes to geographic characteristics there are no limitation to the company. Even though they are established in the U.S. this product quickly spread world-wide. There is no specific region or city that Go Pro is more effective which is why this product has become so popular. It is waterproof and weatherproof which gives it the ability to go anywhere. When it comes to the different aspect of market segmentation geography is the most non-factors. The only limitation that this product would have would be the ability to charge the batteries.
The psychographic traits paint a different picture than the geographic aspect. The...