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Melissa Godar

MKTG 531

Listening to the Market Analysis

9/27/15

Capture

See Appendix 1.

Identification

The focal product in the captured tweet is the GoPro camera.

Source

The captured tweet originates from a travel writer named Arnette RTW’s Twitter page

(https://twitter.com/RTWgirl_), but I found it as a retweet on Travel Oregon’s Twitter page

(https://twitter.com/TravelOregon). RTWgirl shared a photo of Haystack Rock shot on her

GoPro from her trip to the Oregon coast. She tagged GoPro and Travel Oregon in her post.

Travel Oregon retweeted the post on their Twitter page.

Author

I found the retweet on Travel Oregon’s Twitter feed. Travel Oregon is “The official guide to

Oregon travel and tourism information.” (http://traveloregon.com/). Travel Oregon’s Twitter

has 68,445 followers and are following 8,693 people. They have posted 9,008 tweets, 713

photos and videos, and have 2,953 favorites on their Twitter feed. Travel Oregon’s official

website has many ways for consumers or fans to connect on social media.

Identify the Product/Service

The product featured in the tweet is the GoPro camera, which, according to the company, is

“the world's most versatile camera.” (http://gopro.com/about-us/). It is a small, durable,

professional quality camera that can be attached to various mounts and has a reputation for

being used to capture sporting activities and travel. See Appendix 2 for image.

Target Market Analysis

GoPro cameras are purchased by consumers who want a professional quality camera to capture

(or inspire) their adventures. A 2012 article in Bloomberg Business noted that while GoPro

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camera’s started out as an accessory for surfers, skiers, and skydivers it has widened its

audience as people are using the cameras at weddings, in schools, and even for businesses

purposes. (http://www.bloomberg.com/bw/articles/2012-10-17/gopro-widens-the-view-of-its-

customer-base#p1) Fire departments, marine biologists, and the U.S. Army were cited to use

the cameras in training and research. GoPro’s 2014 Annual Report echoed these observations

stating that, “We feel we’ve only scratched the surface of our total addressable market. We’re

expanding operations in Europe, Asia and Latin America. We’re expanding into new consumer

markets including family, science, education, league sports and more.”

(http://files.shareholder.com/downloads/AMDA-2QSTB3/787563281x0x824053/DBEC2B54-

8ECA-4415-86DB-732253775098/GoPro_2014_Annual_Report.pdf). A July 2015 article on

Forbes.com confirmed that, “More than half of GoPro’s revenue in the quarter came from

outside the U.S., with GoPro cameras now sold in more than 40,000 stores worldwide. China is

now a top ten revenue-generating country.”

(http://www.forbes.com/sites/laurengensler/2015/07/21/gopro-second-quarter-earnings/).

Wired.com produced an article in June 2014 describing why GoPro cameras have spread

beyond the original target market of extreme athletes; GoPro cameras are less about the

camera itself and more about the camera being a way to identify oneself as having an active,

adventurous lifestyle. (http://www.wired.com/2014/06/gopro/). This idea was echoed in an

August 2015 article on Investor’s Business Daily calling the GoPro a "’consumer lifestyle

capture’ brand”. (http://news.investors.com/technology-click/081415-766601-gpro-gopro-

expanding-market-for-action-cameras.htm). Analyst Robert Stone predicts that GoPro’s user

base will reach 46 million people by 2019 with 21 million of those users being from the U.S.

While GoPro’s market is expanding, the target market remains active, adventurous

adults around the world. The following consumer demographics, psychographics, and

consumption constellations were obtained from a 2007 report entitled “Fit Consumers in the

U.S.: Tapping into the Active Lifestyles of Sports and Fitness Participants.”

(http://academic.marketresearch.com.ezproxy2.library.arizona.edu/product/display.asp?produ

ctid=1534650&curl=&surl=%2Fsearch%2Fresults%2Easp%3Fprid%3D1023069248%26query%3D

fit%26categoryid%3D70%26cmdgo%3DGo&view=toc&prid=1023069248).

Demographics of Fit Consumers

According to a MarketResearch.com report, there are 50 million adults in the U.S. that

fall into the fit consumer category. Sixty percent of fit consumers had a household income of

over $50,000 per year with the average annual household income being $87,000. At the time of

the report, 23% of fit consumers were between 18-29 years old, 20% were 30-39, and 21%

were 40-49. Fit consumers were 49% male, 51% female, and 74% non-Hispanic white. Thirty-

seven percent had a college degree, 58% were employed full-time, 69% owned a house, 28%

were never married, 58% were married, 74% had two to four people in their household, 41%

had children under 18. Fifty-seven percent lived within the top 100 largest metropolitan cities

with the highest concentrations in the Northeast and Pacific regions.

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Psychographics of Fit Consumers

Descriptors of fit consumers included: optimist, risk-taker, adventurous, value in looking

attractive and youthful, interested in arts and other cultures, concerned about environmental

issues, like to learn new things and be well-informed, important to have close and lasting

relationships, important to spend time with family. Over 60% value faith/spirituality. Fit

consumers tend to be conservative with spending. Over 40% prefer to shop alone.

Consumption Constellation of Fit Consumers

Travel, adventure, health, and appearance are important to fit consumers. The following

products fit into their consumption constellation: personal care products such as makeup, hair

products, lotion, and perfume/cologne, and sunscreen; 69% take vitamins/minerals; more likely

to buy organic or natural food than other consumers; 57% like to try new food products;

clothes; leisure activities include listening to music, dining out, and reading books; travel and

sporting goods such as coolers, bicycles, fishing supplies, camping supplies, etc.; car (42% go on

long car trips for vacation).

Usage Behavior

According to their annual report, GoPro shipped 5.2 million capture devices in 2014. Consumers

can buy from a retailer both online and in-store or directly from GoPro either online or via

telephone. (http://files.shareholder.com/downloads/AMDA-

2QSTB3/787563281x0x824053/DBEC2B54-8ECA-4415-86DB-

732253775098/GoPro_2014_Annual_Report.pdf). While known for its durability, the launch of

newer, better versions of the GoPro camera can influence consumers to upgrade. CEO Nick

Woodman stated in a July 2015 article that GoPro launched five new cameras in the previous 10

months. (http://www.forbes.com/sites/laurengensler/2015/07/21/gopro-second-quarter-

earnings/). Important attributes that set the GoPro camera apart are its durability, portability,

wear-ability, ease of use, and professional quality image capture.

(http://files.shareholder.com/downloads/AMDA-2QSTB3/787563281x0x824053/DBEC2B54-

8ECA-4415-86DB-732253775098/GoPro_2014_Annual_Report.pdf). As previously discussed,

uses for GoPro cameras are expanding beyond capturing extreme sports. Researchers,

teachers, families, and businesses are using GoPro cameras as training tools or to replace their

digital cameras.

Social Media Engaged Users

Social media is a vital component in GoPro’s brand and marketing strategy. As described in their

2014 Annual Report, user generated content has spread rapidly over the Internet acting as the

most important source of brand advocacy. On a daily basis, customers share thousands of

images and videos captured on their GoPro camera. “The volume and quality of their shared

GoPro content, coupled with their enthusiasm for our brand, are virally driving awareness and

demand for our products.” (http://files.shareholder.com/downloads/AMDA-

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2QSTB3/787563281x0x824053/DBEC2B54-8ECA-4415-86DB-

732253775098/GoPro_2014_Annual_Report.pdf). GoPro encourages consumers to share their

content on social media and makes it easy with their software. According to a Wired.com

article, “In 2013 alone, GoPro customers uploaded 2.8-years worth of video featuring GoPro in

the title. In the first quarter of 2014, people watched over 50 million hours of videos with

GoPro somewhere in the title, filename, tag, or description.”

(http://www.wired.com/2014/06/gopro/). The target market of fit consumers was described in

a 2007 report: 85% own a personal computer, 22% went online at home more than 20 times

within 7 days, and 28% had Internet access on their cell phone.

(http://academic.marketresearch.com.ezproxy2.library.arizona.edu/product/display.asp?produ

ctid=1534650&curl=&surl=%2Fsearch%2Fresults%2Easp%3Fprid%3D1023069248%26query%3D

fit%26categoryid%3D70%26cmdgo%3DGo&view=toc&prid=1023069248) These numbers are

outdated and have no doubt increased with the growth of technology and social media over the

eight years. According to the lecture one slides, there are over 100 million social network users

within the 18-49 age range with ages 25-34 being the highest users.

(https://blackboard.eller.arizona.edu/bbcswebdav/pid-638733-dt-content-rid-

5069501_1/courses/MKTG531-001-154-DYN/OMBA-MKTG-531E-Overview-of-Social-Media-

Part-1.pdf). The younger end of the target market is more likely to engage in extreme or

adventurous sports as well as more likely to actively engage in social media.

Crystal Ball

According to GoPro’s 2014 Annual Report, camera sales are not increasing as rapidly, which is

to be expected after a decade in business. Because they are highly dependent on camera sales,

they will continue to advertise in all avenues and attempt to expand to new markets as well as

grow vertically within established markets. With their focus on becoming a media brand and

developing software that makes capturing, editing, and sharing media easier, GoPro has the

potential to become a household item replacing the family video camera. As described in

several articles, GoPro is really less about the camera and more about the content, which I

believe has the potential to make GoPro an iconic brand. The popularity of GoPro content on

YouTube and the professional quality video from such a small device might only be hindered by

the price.

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Appendix 1: Capture of Product Specific Post

Source: https://twitter.com/TravelOregon

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Appendix 2: Capture of Product

Source: http://shop.gopro.com/cameras