I believe the new GoPro Hero4 Session is an incremental innovation. The customer need in this situation is the ability to conveniently record video and take pictures wherever they might be, including underwater. This need means that the customer must have a device that is portable, small and easy to use. This customer need is not new as people have been documenting their lives and developing technology to take pictures since the 1800s. There have been very many inventions over time that allows people to take video and photographs and over the years, the inventions have gained new features and gotten smaller and easier to use. With that being said, the technology is old and this GoPro is just a step up from older technology that has already been developed. By creating a new version of the existing product, GoPro is making slight changes to their original technology development that would justify an incremental innovation within the market. Nick Woodman, CEO of GoPro, speaks about moving toward making drones, which would be considered a technology breakthrough as drones are an existing technology, however, it would be a new customer base and want of GoPro customers.
I believe that GoPro was able to penetrate the market so quickly because they were the first to develop a product of this kind that allows customers to have a durable, quality camera and video device that can go with them anywhere. The very first version of GoPro could be considered a technology breakthrough because there were not any other products that could do all the functions that a GoPro could. This technology breakthrough peaked immediate interest of consumers because there were no other major competitors in the market and GoPro was able to gain a wide market b...
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...nd special deals on existing products. With all the new models of GoPro that are coming out, the company could offer deals on their less current models in order to get new customers to dip their toes in the water and begin a relationship with GoPro. Although offering a sale on products would decrease the overall profit, it would increase the unit sales and have an impact on the size of the consumer market, which would be beneficial in the long run. Finally, GoPro could continue to utilize market development, or the market extension strategy that includes taking existing products into a new market, such as other countries. GoPro has already had success with selling their products in other major countries such as China, however, they could continue to market and promote their products in countries they haven’t explored yet. This would increase sales and profit as well.
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