PESTEL is a strategic analytical tool used to assess external factors affecting businesses. This can result in greater scrutiny of environmental standards for GoPro Inc in United States. A PESTEL analysis is a tool that allows organizations to discover and evaluate the factors that may affect the business in the present and in the future. Within PESTEL analysis, political factors exert a strong influence on the long-term sustainability and profitability of GoPro Inc. It stands for Political, Economic, Social and Technological analysis that describes the framework of macro-environmental factors. However, PESTEL analysis is a tool that helps in analysing these factors. High GDP also signals the consumers ability to spend more on offered products. For instance, extreme weather conditions can increase the cost of operations and compel the GoPro Inc. to make the value chain more flexible. Solution, Assignment Writing GoPro SWOT Analysis: Final Word Strengths of GoPro Strengths are the strong points of an organization that helps it in competing with other organizations. To solve environmental issues many technology companies have come forward to take part in corporate social responsibility initiatives in the form of recycling and preserving environment with e-waste management. Lets take a look at what opportunities are present for GoPro. Strong Brand Value GameStop Revenue : $ 5.090 billion - FY ending 30th January 2021 (y-o-y growth -21.3%) $ 6.466 billion - FY ending 1st February 2020 Competitive Analysis of GameStop SWOT !-Keith GrencherBirmingham Business School. The action camera brand announced going public in 2014. Moreover, GoPro has a lot of experience in the camera space. Excessive resource depletion by GoPro Inc. can draw the negative response from media, environment protection groups, customers and the general public. Read more about PESTLE analysis here. However, weaknesses must be converted into strengths if a brand wants to grow. In 2019, GoPro was the most popular consumer electronics brand in the US, with 93.8 million cross-platform actions on social media brand content, leaving PlayStation behind. With software and hardware upgrades such as 5G and powerful IoT cameras, older camera systems are soon expected to be junked by consumers; this has created a huge impact on natures ecosystem. - Empowerment of supply chain partners Technology has shortened the product life cycle and it has enabled suppliers to quickly develop new products. SWOT Analysis (short for strengths, weaknesses, opportunities, threats) is a business strategy tool to assess how an organization compares to its competition. Looking at this trend, along with many brands, GoPro also established its online store. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing. Lastly, GoPro Inc. should study the consumers leisure interests and should focus more on enhancing the customer experience if customers prefer experiential products over traditional product offerings. There is no universally-accepted creator. Copyright 2023. Today, new products are developed quickly, and supply chain partners have also gained more power. GoPro has been leading portable camera market with its camera offerings. GoPro makes a 3-way mount, suction cup, chest brace, jaws-type flexible clamp, dog harness, surfing mount, and other mounting accessories for its cameras. Moreover, if the government of the country under consideration is not serious about protecting the intellectual property rights of business organizations, it will deter the entrepreneurs from investing in organizations due to high risk of ideas being stolen. The advent of social media and e-commerce has encouraged online shopping behavior among customers. [online] Available at: https://www.swotandpestle.com/gopro/ [Accessed 01 Mar, 2023]. On the other hand, GoPro is operating in the camera industry, where its sales revenue is constantly falling. - Efficiency of financial markets in United States GoPro Inc can access vibrant financial markets and easy availability of liquidity in the equity market of United States to expand further globally. This section will analyze some of the threats faced by GoPro. Moreover, there are laws to set the maximum price, ensure a certain quality standard and protect consumers from fraudulent marketing claims. Entering in mature industries can be more challenging due to market saturation than industries at the growth stage. The strengths and weaknesses address the internal factors of the company, opportunities and threats are the macro challenges that GoPro Inc is facing in United States and other international markets that it operates in. The company has its headquarters in San Mateo, California, U. S. In 2002, Nick Woodman, a surfer, skier, and motorsports enthusiast, created GoPro in search of a better way to film himself and his friends surfing. Are these norms consistent with international institutions such as World Trading Organization, European Union etc. Any brand would try to have a strong brand value because it leads to higher revenue and increased profit margins. The growing environmental pollution coupled with technological advancement has compelled business organizations to adopt innovative recycling and waste management practices. This report is shared in order to give you an idea of what the complete Porter's Five Forces Analysis Report will cover after purchase. - Skill level of workforce in United States market The skill level of human resources in United States is moderate to high in the Consumer Cyclical sector. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing. United States is a young country and growing. Political factors are often related to the level of intervention and nature of intervention of the local and national government in the business and economic environment. PESTEL has recently evolved from PEST analysis once intensifying forces of globalization and intensifying forces of competition in the marketplace coupled with other set of factors . Proposal, Question Step 1/3. Every brand has some weaknesses that keep it from achieving its true potential. 1. It was the first company to bring first-person perspective and POV action to viewers across the globe with its near-indestructible mini cameras. It requires GoPro Inc. to prioritize and focus on marketing the eco-friendly nature of their products over customary value propositions. However, it now has an opportunity to increase its R&D expenditure. Segmentation, Targeting and Positioning (STP) Analysis Report. What are the strategically relevant factors in GoPro's macro environment? Operation in a developing economy will cut down the costs of GoPro. Attention to Results : SOAR Analysis Guide and Template 3 . Make Pestel Analysis Diagram Now. GoPro Inc. cannot enter a new market without studying in detail the legal environment and regulatory structure of the new consumer market. GoPro: Independent Internet Strategy Analysis Michelle Lach, MSIMC 2.4k views Gopro presentation Ludovic Jolly 15.8k views Business communication presentation about Go pro company Jamiur Rahman Choudhury 863 views Gpro investor presentation september 2017 v f investorsgopro 8k views Marketing Proposal Final - GoPro Mary Jane Boscia GoPro has been successful in leveraging social media to drive traffic and create brand awareness. GoPro Hero 9 Black brings dual-display, 5K videos, & more: Price, features - https://www.business-standard.com/article/technology/gopro-hero-9-black-brings-dual-display-5k-videos-more-price-features-120091700901_1.html Whirlpool Corporation SWOT & PESTLE Analysis, Helix Energy Solutions Group Inc. SWOT & PESTLE Analysis, Cox Communications SWOT & PESTLE Analysis, American Axle & Manufacturing Holdings (AAM) SWOT & PESTLE Analysis, 1. Key Performance Indicators (KPI's) Report. Organization study business environment to identify can help in improving the sustainability of the company. The detailed complete set of references are available on request in the 'Complete report' on purchase. It is important to note that the GoPro Inc PESTEL Analysis will be market specific, and the implications of the factors change for a company when the market changes. 2. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing. Check out EdrawMax's guide to discuss pestle analysis of the retail industry to find out various macro-environmental factors that can impact retail businesses. Help, Academic In some societies, consuming the offered product is considered a status symbol, while, some people use the same products for functional aspects. inspiration, guidance, and understanding. Strengths are the strong points of an organization that helps it in competing with other organizations. GoPro Inc. can benefit from it and invest in renewable technologies to ensure long-term sustainability. The PESTLE Analysis highlights the different extrinsic scenarios which impact the business of the brand. Attention to Gaps . Before We See PESTLE Analysis Examples, Let's Recap on the Basics. Moreover, adopting efficient waste management practices in organizational units that are located in or near urban areas is highly crucial for GoPro Inc. This report is shared in order to give you an idea of what the complete Digital Marketing and Social Media Strategy Analysis Report will cover after purchase. Entering in countries with high taxation level will directly influence the profitability of GoPro Inc. High taxation affects international trade and prevents exports. - Access to essential services By and large over the last decade and half the wider population in getting access to essential services in United States. The GoPro range of action cameras is wide and varied. When labor markets are flexible, GoPro Inc. can take advantage of higher labor productivity. A PESTEL analysis or more recently named PESTELE is a framework or tool used by marketers to analyse and monitor the macro-environmental (external marketing environment) factors that have an impact on an organisation. Section 1: Competitive Analysis of GoPro's global market In the light of recent events, where GoPro has faced issues with financial performance due to a stagnating growth, we are evaluating its marketing strategies through a competitive analysis using the SWOT technique by comparing GoPro with its main brand and product competitors. GoPro Inc has to make plans to adhere to regulations and expectations in the Consumer Cyclical sector. You can use the following in your reference section in order to give credit to the source. The high interest rate will encourage the attitude towards investment and increase growth opportunities for GoPro Inc. Economic factors includes inflation rate, interest rate, taxation rate, consumer disposable income, the stage of economy of countryname, economic performance of countryname, exchange rate, labor market conditions etc. Micro as well macro elements of environment of Puma will be elaborated in this study. Studying the demographic characteristics can help GoPro Inc. in choosing the right market segment/segments with high growth potential. PESTEL stands for Political, Social, Economic, Technological, Environmental and Legal factors that impact the macro environment of the enterprise that it operates in. A framework for PEST analysis based on fuzzy decision maps. Marketing and human resource strategies in a traditional, patriarchal society with clearly distinguished gender roles will be different from societies with low gender stereotypes. Daidj, N. 24-27). You can adapt the PESTEL framework to choose the elements most relevant to your business. Developing strategic business models and competitive advantage in the digital sector. In case of political instability, GoPro operations will suffer since it might lose customers from a region. Moreover, the business performance of GoPro Inc. is also influenced by the extent to which the host country government has spent on core infrastructure development. T - Technological. The observation of social class stratification is also important for GoPro Inc. Offering luxury products at premium prices to a market where the high-end market is considerably small in number will require GoPro Inc. to adopt the niche marketing strategies. GoPro's Current Position Industry Analysis (PESTEL Framework, Porter's 5 Forces) Company Analysis (General Info, SWOT) The Recommended Solution Conclusion Invest heavily in R&D (stay ahead of the technology curve) Find other larger market (other than action sports) Create a new, lower price product Partner with company (synergy) A careful evaluation of legal aspects is required to avoid getting into some serious trouble. Research and development activities are highly important in an environment characterized by creative disruption. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing. If GoPro Inc. decides to enter in markets with the corrupt economic, political system, it will threaten the organization's sustainable development by destabilizing the society, harming justice system and endangering the rule of law. The results of a SWOT analysis help us make future policies by looking at the factors that affect an organizations operations. This report is shared in order to give you an idea of what the complete VRIO Analysis Report will cover after purchase. Check your email These factors are used for environmental scanning in strategic management. The high fluctuation on local currency can be a cause of serious concern for GoPro Inc. - Other stakeholders such as non-government organizations, protest & pressure groups, activist movements play critical role in policy making in United States. - Political stability in the existing markets GoPro Inc operates in numerous countries so it has to make policies each country based on the Photography industry specific requirements. It makes its presence felt in the industry by offering attractive packages. GoPro Inc. should carefully analyze the protests by pressure groups, social/environment activists and worker unions as such protests play an important role in the policy making process. GoPro is the name that became synonymous with high-action, extreme sports. Business always prospers in political stability. 5. gopro partners with major brands to create original entertainment series - https://gopro.com/en/us/news/GoPro-Partners-with-Some-of-the-World%27s-Most-Recognized-Brands They helped me with my custom research and delivered before time! Question 2 What is your assessment of GoPro's business model and competitive strategy? Political Factors. Moreover, considering the development and maturity level of technology in the respective market is also important. Cuts down my effort to surf through heaps of redundant data.-Alexandra MookiMajor in Business Administration, Carnegie Mellon University, This website has an amazing support team. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing. Lets have a look at what strengths GoPro Possesses. Regulatory bodies emphasis on ensuring compliance with environmental norms is altering the product innovation priorities. This has been a result of increasing investment in public services. The PESTEL analysis is a tool used by marketers to evaluate the macro-environmental factors that impact the business or its particular industry. United States is providing subsidies to invest in the renewable sector. - Regular scrutiny by environmental agencies is also adding to the cost of operations of the GoPro Inc. - Recycling is fast emerging as a norm rather than a good thing to do in United States economy. O. E. Williamson, Markets and Hierarchies(New York: Free Press, 1975) Focus on Analysis - Planning . On March 16, 2021, the company launched its mobile app and named it Quik, which makes it fast and simple for users to get the most out of their favourite images and videos, regardless of which phone or camera they are using. Its software capabilities are also incredibly powerful. Innovation is very important for all businesses because thats what differentiates the product of one business from the other. In some countries, recycling has almost become a business norm. Let's start with the impact of political factors on Twitter's performance. The basic premise of PESTLE analysis is that you analyze a chosen organization from six different perspectives: Political, Economic, Sociocultural, Technological, Legal, and Environmental. - Business Laws The business laws procedure that United States follows. A PESTLE analysis is a simple tool that helps businesses succeed because it allows business owners to gain an understanding of the wider market in which they are operating in. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing. Political, Economic, Social and Technological analysis that describes the framework of factors. 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