![]() One of the most important factors that must be taken into consideration when launching this product is the level of competitive rivalry among the existing players in the industry. The figure below shows the five forces that must be taken into consideration when using the model. This model explains forces in an industry that may affect operations of a firm directly or indirectly. Porters Five Forces will, therefore, be used to identify the industry forces and how this company can deal with them appropriately. Having a framework that analyzes competition levels within the industry and business strategy needed of the firm is critical for the firm to achieve success (Lannoye, 2015). The forces within the industry have direct impact on the performance of this new product as soon as it is launched in the market. As such, a detailed analysis of the industry will be critical at this stage to help the board understand how this new product will perform in the market once it is launched. It is normal that the directors will need information about forces in the industry within which this firm operates. ![]() GoPro Karma drone is about to be launched and the approval of the board of directors will be needed. The report provides a detailed analysis of the planned launch of the new product that will help the board of directors make informed decisions. It will help the firm to avoid deadweight loss 1 by improving economic efficiency in the firm’s operations (Samuelson & Marks, 2012). The management has put systems and structures in place to ensure that equilibrium for this new product is achievable as soon as it is launched. The initial tests show that it is easy to control and it can cover great distance, which is in line with the expectations of the customers. The new product has been developed and the team has already tested it. It enables its users to take aerial photos and videos with ease. It was developed following the feedback that the company has been receiving from its customers in the recent years. The new product is expected to deliver a high value to the company’s customers because of its unique features. It is on this background that the management of this company made a decision to come up with GoPro Karma. It must understand the changing tastes and preferences of its customers and be able to develop new products that exceed customers’ expectations to ensure that they are always thrilled (Samuelson & Marks, 2012). Its sustainability depends on its ability to deliver quality products to the customers in a profitable manner. ![]() The market is highly competitive and this firm is under great pressure to find ways of becoming profitable again. In the financial statements released for the year ending 2015, both the operating income and profit for the company dropped. In the recent past, GoPro has experienced a number of challenges in its operations which have affected its profitability in the market. The report ends by looking at ethical and legal considerations that must be observed by the firm when launching the product. The report then focuses on the project itself, looking at its benefits to the firm, how it should be implemented, and possible challenges. It then narrows down to company analysis in order to outline its capacity to undertake this project. After a brief introduction, the report provides a detailed analysis of the industry in which the firm operates. The report provides a detailed analysis of the project in a way that will help inform the board of directors when making the decision of either approving or rejecting the project. Otherwise, the latest 2.5 firmware update is from September 2018.Karma drone project aims at launching a new product, GoPro Karma drone camera, into the global market. In January 2018, GoPro decided to discontinue the Karma and told existing customers that they would continue to support/update it. Also, Karma faced some serious issues like in-flight power loss, which led to 2500 drone recalls. While the idea was not bad, the drone market is dominated by severe contenders like DJI, who came out with their superior Mavic Pro drone shortly after the Karma. The concept behind it is that you could attach your GoPro and GoPro Gimbal directly to the drone. If you never heard of this drone, let’s rewind to 2016, when the action camera company introduced this UAV to the world. To date, it is one of the biggest fails in GoPro’s history. The GoPro Karma is the brand’s only UAV that was discontinued two years ago, when hundreds of people were let go. Let’s take a closer look at why Karma drones are grounded right now. ![]() GoPro is investigating the issue and should hopefully fix the problem pretty soon. GoPro Karma users are reporting a GPS bug that makes their drones unable to take off. ![]()
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