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GoPro’s Wearable Camera

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These slides use concepts from my (Jeff Funk) course entitled Biz Models for Hi-Tech Products to analyze the business model for GoPro’s Wearable Camera. GoPro offers a wearable computer for extreme sports that is much more durable than other cameras. This camera is useful for board, kite, and wind surfers, skiers, scuba and sky divers, other extreme sports enthusiasts, drones, and the military. GoPro is building a community of users, online videos, and complementary products that is expanding GoPro’s methods of value capture. This presentation also discusses other aspects of the business model such as scope of activities, and method of strategic control.

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GoPro’s Wearable Camera

  1. 1. Business Model ForJohn Allen Ray –A0094079UWenjingQi –A0119658RDouglas Gong Chun –A0034283LWang Hao–A0110225ATan GeokBin Andrew –A0110245Y
  2. 2. •Introduction•Customer Selection•Value Proposition•Value Capture•Scope of Activities•Strategic ControlOutline
  3. 3. The WEARABLE HD CAMERA that started a revolution. Impossibly small Impressively high performance Incredibly versatile It all adds up to a camera that makes it easy for anyone, anywhere, to capture stunning photos and video of their life’s most meaningful experiences. ` Introduction http://www.youtube.com/embed/1NLeuTNsQss?rel=0&start=03&end=25&autoplay=1
  4. 4. The Sky is not the limit –near edge earth stratosphere*, extreme temperature, low pressure, sun radiation exposure, speed & friction GOPRO–EXTREME HD PHOTO-VIDEO AT WORLD’S ENDSIn the depth of the ocean– Capturing at 40m below sea level , extreme high pressure & low temperature https://www.youtube.com/watch?v=wPQpdYcZ23k#t=0m50sGoProAll TerrainAll WeatherAll ExtremitiesHD CAMERA
  5. 5. Introduction From Analog Camera to Wearable HD Wireless Camera Technology -GoPro Analog camera & video cam Digital camera Digital video cam Wearable HD wireless Cam cum video cam -GoPro Mobile &Smart phones Performance Effort DIGITAL ERA ANALOG ERA WEARABLE DIGITAL ERA
  6. 6. Wearable Revolution From Analog Camera to Wearable HD Wireless Camera Technology -GoPro
  7. 7. ACTION CAMERA MARKET PROJECTION Wearable action camera forecast 37% cagr, demand rising as a result of growing extreme sports market
  8. 8. Customer SelectionGoProfor the young, active extreme sport enthusiastsWanting to Share their stunts and wild experiencesAdrenaline Junkies, AdventurersSky divers, Snow SportsScuba Divers, Surfers GoProis much more than these niche markets
  9. 9. Customer Selection GoProembeddedtosoldiershelmets Wirelesslive-streamingofvideosandimagestomilitarynetworkviasmartphoneshelptoaidsoldiersintheirtourofduty DARPA -Defense Advanced Research Projects Agency to use wireless cameras embedded on US soldiers helmets that stream live to the network via smartphones Global defense annual spending : USS$1.7 trillionGoPro in the world Military Organizations
  10. 10. Customer SelectionGoProin marine ROV manufacturers Undersea ROV for marine biology research, Undersea search and rescue Offshore Oilfield exploration & subsea maintenance for marine oil and gas industry Seabed surveys for marine geologists, seismotologist The World ROV Market Report 2010-2014 identifies 2009 expenditure on ROV on the global work-class market at $1.7 billion. The report forecasts rapid expenditure from a 2009 low, growing to $3.2 billion by 2014.
  11. 11. Customer SelectionConsumer, professional & military drones market Consumer drones for social photography, videography & hobbyist thrills Professional drones for search and rescue, disaster area reconnaissance, aerial mappings, movie making, scientific research etc Military drones for aerial reconnaissance & silent attack behind enemy lines
  12. 12. Customer SelectionProfessional Drones Market
  13. 13. Customer SelectionProfessional Drones Market
  14. 14. Customer SelectionCAR Manufacturers using GoPro Solutions Car Infotainment system installed with GoPro enabled solutions forowners to remotely operate GoPro Hero Cameras Total In-Car Infotainment (ICI) Market is expected to touch $14.4 billion by 2016 at a CAGR of 12.1% from 2011 to 2016
  15. 15. “The value proposition that we're trying to deliver to our customers is to remove all of the pain points in capturing and sharing immersive and engaging personal content that other people actually want to watch.” –Nick Woodman, CEO & Founder, GoProValue Proposition
  16. 16. Value PropositionExtremely rugged camera designShockproof, waterproofMountable anywhere GoPromounts (26 options) or compatible mountsSmall size and low weightEasy to wear/attach anywhereHigh resolution video capable4K videoWireless connectivity for control via app/remoteWaterproof RemoteEasily create and share contentFacebook, Twitter, YouTube, Instagram
  17. 17. Value PropositionExtremely rugged camera designShockproof, waterproofMountable anywhere GoPromounts (26 options) or compatible mountsSmall size and low weightEasy to wear/attach anywhereEasily create and share contentFacebook, Twitter, YouTube, Instagram Adrenaline Junkie Adventurer
  18. 18. Value PropositionExtremely rugged camera designShockproof, waterproofMountable anywhere GoPromounts (26 options) or compatible mountsSmall size and low weightEasy to wear/attach anywhereHigh resolution video capable4K videoEasily create and share contentFacebook, Twitter, YouTube, Instagram Sky Diver Snow Sports
  19. 19. Value PropositionExtremely rugged camera designShockproof, waterproofMountable anywhere GoPromounts (26 options) or compatible mountsSmall size and low weightEasy to wear/attach anywhereHigh resolution video capable4K videoWireless connectivity for control via app/remoteWaterproof Remote Scuba Diver Surfer
  20. 20. Value PropositionExtremely rugged camera designShockproof, waterproofMountable anywhere GoPromounts (26 options) or compatible mountsSmall size and low weightEasy to wear/attach anywhereWireless connectivity for control via app/remoteWaterproof Remote Military
  21. 21. Value PropositionExtremely rugged camera designShockproof, waterproofMountable anywhere GoPromounts (26 options) or compatible mountsSmall size and low weightEasy to wear/attach anywhereHigh resolution video capable4K video Marine ROV
  22. 22. Value PropositionExtremely rugged camera designShockproof, waterproofMountable anywhere GoPromounts (26 options) or compatible mountsSmall size and low weightEasy to wear/attach anywhereHigh resolution video capable4K videoWireless connectivity for control via app/remoteWaterproof Remote Drone
  23. 23. Value PropositionExtremely rugged camera designShockproof, waterproofMountable anywhere GoPromounts (26 options) or compatible mountsSmall size and low weightEasy to wear/attach anywhereFirst Category
  24. 24. Value PropositionHigh resolution video capable4K videoSecond Category
  25. 25. Value PropositionWireless connectivity for control via app/remoteWaterproof RemoteEasily create and share contentFacebook, Twitter, YouTube, InstagramThird Category
  26. 26. Value Proposition
  27. 27. Value Proposition
  28. 28. Value Proposition
  29. 29. Value Proposition http://www.slideshare.net/nicolasleonard986/gopro-brand-audit PERCEPTUA L M A PPING Traditional Leisure High Quality Low Quality Actio n High Quality Low Quality Tradition al
  30. 30. Value CaptureExisting Revenue StreamTransformationVSN: Create Value from Brands and AdvertisersVSN: Create Value from Members
  31. 31. Markup Revenue Model Sale of action cameras Sale of variety of mounts and accessories Mounts and Accessories Cameras Cameras Mounts AccessoriesEXISTING REVENUE STREAM
  32. 32. TRANSFORMATION—PHYSICAL GOODS TO DIGITAL MEDIA Advertising Enable end users to edit and share videos through GOPRO Channel on YouTube, Virgin America and Xbox Live Fostering a community that has large potential advertising value Vertical Social Networking Customer Customer Online and offline interactions GoPro Expose to target consumers Sell Analytics and Digital Content Community Brands Software and App GoProchannel
  33. 33. VSN: Create Value from Brands and AdvertisersMarketing solutionsAdvertising & contentTargeted audienceInfluencer identification Influencer contractingSponsorship, PromotionLead GenerationPlatform SolutionsCo-branded platform functionsAPIs and embeddable widgets3rdParty shoppingResearch/analytics PackagesCustomized reports for brands and vendors
  34. 34. VSN: Create Value from MembersMembershipEnable sharing and interactionsMake friends onlineEngage in adventures offlinePremium SubscriptionAccess to premium features, APIsad-freePremium offline services
  35. 35. Scope of ActivitiesR & DManufacturingDistribution ChannelMarketing Strategies Vertical (Dis)integration
  36. 36. R & D 100 3 200 0 50 100 150 200 250 300 350 Before 2011 2011 onwards # of Specialists Hardware Software2/3 Hardware Design Look Functionalities1/3 SoftwareContent Management& Platform-based software: GoProStudio GoproApp GoProNetworks Out of Total 800 employees
  37. 37. R & D Total revenue 2014 $244.6 million
  38. 38. ManufacturingAmbarella, Inc. SoCTechnology (System-on-a-chip) Integrating Capabilities onto one chip•HD video-processing•Image-processing•Audio-processingTo capture high-quality content at extremely power-efficient levelChiconyElectronics Co., Ltd. Buys Ambarella’schipAssemble into GoPro’scamera “go to”
  39. 39. Distribution Channel GoProWebsite > 100 Countries Worldwide Specialty Retailers (Surf, Bike, Dive) Sporting-goods Retailers (Authority) CE Retailers (Best Buy, Target, Challenger) CUSTOMERS Authorized Resellers /Dealers
  40. 40. Marketing Strategies Current •Good –Better –Best •Mountings, Gadgets & Gears •GoProChannel & Community Future Media Company
  41. 41. Vertical (Dis)integrationIn HouseOutsourcing R&D ✓ Manufacturing Ambarella, Chicony Marketing GoProChannel Youtube, Red Bull (Content providers) Sales & Distribution Online Website Worldwide Retailers & Resellers After Sales Support ✓ Worldwide Retailers & Resellers
  42. 42. R&D Design Merchandising Subcontracting Manufacturing Logistic Marketing Licensing BrandValue Chain Value Added GoProSmile Curve
  43. 43. Strategic ControlsBest in class product designEmotional connection with GoProownersBecome content provider
  44. 44. Best DesignChoice of configurationsCompatible with IOS, Android and Windowslow weight and long battery life
  45. 45. Emotional ConnectionPartner with BMW, Red Bull to build brand image Mutual endorsement and expand customer baseExpand GoPro’sinstall base and user communityFeatured GoProathletes to use the camera
  46. 46. User Generated ContentUser-generated content is self-evangelizing and saves GoPromarketing cost. Deeper connection with audience as opposed to PPC. First-person videoTechnology advance Enpowersusers to create captivating content as compelling as profession ads.
  47. 47. IP management of UGCGoProdoes not own the content (copyright) GoProobtains licensefrom authorsGoProbuild an enormous media database to exploit on YouTube and GoProwebsite YoutubeChannel GoProWebsite
  48. 48. Encourage CreationFulfilling fantasy: Be a hero and be part of the GoProStory, inspired by GoProathletes, exciting videos produced by power users. (GoProprogramming) Mounts, GoProStudio, GoProapps (vertical integration) Openness and compatibility with other social mediaReward authors with money, status and privilegesAdopt Creative Commons with power users
  49. 49. ConclusionRobust product design and quality are the cornerstone of GoPro’ssuccessEffective marketing through UGC accelerates GoPro’ssuccessBuilding up ecosystem demonstrates future potential

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