Go Pro Case Study Essay Example | Topics and Well Written Essays - 750 words

Go Pro Case Study - Essay Example During a surfing activity with camera in his palm he got his business idea. The future wife of the Woodman, Woodman’s mother and Woodman’s father gave the startup capital to do the business. Arrangement of money, creation of the team and the arrangement of several other resources were the main challenges in front of the Nick Woodman. Learning the market and the customer were also initial challenges for Woodman. Currently the business of the GoPro is significantly successful. In the year 2013 the revenue of the organization increased by 87% and the total revenue was $985 million. The company is certainly profitable in nature. Net income almost doubled in the year of 2013. It became $61 million in 2013 in compare to $32 million of 2012. All these facts are clearly articulating its profitability. Both revenue and the net income have increased which are clear indications of profitability. Sony action cam and CENTR cam are the competitions for the GoPro. The company went for initial public offering in the month of June 2014. Almost $100 million capital was raised from the sale of stocks. The stock was traded in between the range of $21 to $24. Being an US company in NASDAQ the stock is being traded. Code of the stock in NASDAQ is GPRO. Ten years full of slogs, dedicated and committed management, business understanding and the innovation of products are the driving forces for the growth of the company. GoPro sales High Definition personal cameras mainly for the purpose of the extreme and action related video photography. Targeted customers of the GoPro are active teenagers, athletes; people who are involved with deep water surfing and enjoy different expeditions, adventures and mountaineering (Solomon). Marketing campaigns of the GoPro are intoxicating in nature. The organization knows very well how to amaze the people. The organization allows its users to make commercials of the company. All these created such a strong brand identity. Nick Woodman and his