...Marketing Analysis Project INDEX Introduction 1. Fitbit, Inc Background 2. Market Analysis 3. Positioning, Competition and Branding 4. Services and Pricing 5. Promotions and Marketing Conclusions Introduction This project will cover research done on the Fitbit Ultra, a fitness aid device design to help ambulatory people track their wellness and fitness. The report will open with a brief background and history of Fitbit, Inc and introduce the device features. The second section will cover a Market Analysis of the Fitbit Ultra. Research done on the demographic trends and economic trends that currently impact marketability of the Fitbit Ultra will be discussed. Additionally, consumer’s tastes and preferences, along with cultural factors that influence consumer purchasing of the device will also be covered in this report. Aspects of product positioning, to include social factors, personal factors, psychological factors, and other behavior that would influence a consumer to purchase the Fitbit Ultra will help identify more specific marketing strategies. The next section is devoted to research of the competition. This will include a SWOT analysis and a synopsis of the most competitive brands vying for market share with Fitbit Ultra. Analyzing the target markets and their potential for best customer impact is explored as well. The report will explore branding and services regarding the Fitbit Ultra and the website Fitbit.com. Pricing is a vital...
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...Product Overview Fitbit was founded by James Park and Eric Friedman in 2007 since then Fitbit has grown into one of the most popular wireless activity trackers. Fitbit’s mission is to inspire people to live a healthier and more active lifestyle. Fitbit Flex is “a wristband that makes fitness fashionable.” Fitbit uses wireless technology to track all-day activity such as, how many steps you have taken, the distance you have traveled, how many calories you have burned, how many minutes you were active, and a sleep monitor to tell you how long and well you slept. Fitbit Flex comes with two band sizes, small and large made from a flexible material that provides all day comfort; the bands are interchangeable and come in different colors. Fitbit currently has six different types of wireless activity trackers you can buy, along with a “wi-fi smart” scale for continuous tracking of your weight loss. Consumers can track their activity through an app that is downloadable on any smart phone to keep track of how many steps are being taken, calories in and out, and tracking what foods they consume. As well as tracking on your smart phone you can also track your activity through a dashboard online to see what your latest statistics for the day are. Industry/Business Fitbit is currently sold in over 50 countries and is being sold in over 45,000 retail outlets. “Fitbit can be synced with over 150 mobile devices and currently boasts the largest community of connected...
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...Are you wearing a Fitbit? If so, you are helping the trend thrive even more than what it already has. At this point in the diffusion of innovation chart the Fitbit is starting to reach the end of early majority and the beginning of late majority. Not sure what a Fitbit is, well it is a watch/fitness tracker. It counts your steps, tracks your heart rate, miles you have walked, calories burned, and many more features. At the end of each day you sync all of the data onto the app or computer.This allows you to see and reflect off the data that has been made based on your everyday lifestyle. The Fitbit has been a trending product since January of 2012(google trends). Within that time period it has times where the trend increases and times where...
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...Advertising Suggestions on Fitbit, Inc Advertising is an important part of marketing, it helps to sell goods, the good advertising can improve the visibility and the sales of product. The types of advertisements are varied, they are above-the-line advertising, below-the-line advertising and audio-visual advertising, etc. Improve the quality and creativity of advertising and attract the consumers’ attention, now is the main research of many brands. The first advertisement may have been a sign painted on a wall of a building. The early outdoor-advertising competitors were town criers employed by merchants to praise their goods. It was Gutenberg's invention of the moveable-type printing press in 1450 that resulted in the mass production of posters...
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...Health and fitness virtually everyone is interested in some fitness and/or diet plan and is attempting to practice the healthiest existence conceivable; with this amplified consciousness arrives a proportionate intensification in requirement for health and fitness products and apps. 1. Describe the product and its associated industry. Fitbit Surge, according to Fitbit, 2015, is the ultimate super watch; constructed with eight-sensor technology and best-in-class battery life, Surge transitions flawlessly from work to workouts; tracking real-time stats like steps, distance, heart rate, active minutes, calories burned and more, to keep you in the know, on the go. (Fitbit, 2015) With multi-sport functionality, Surge allows you track every characteristic...
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...ever thought about purchasing a FitBit? I recently purchased the FitBit Charge. I can’t live without having a FitBit! It has cool additional features that are more than you have to bargain for. The FitBit is a mobile device that can be put on your wrist or clipped on your hip (depending on model). Depending on the model, it can track steps, distance, calories burned, sleep, be a GPS, receive call and text notifications of a synced mobile device, control songs on your mobile playlist and more! There’s an app where you can access day to day data, workout summaries, make friends and challenge them, and check your sleep patterns. When it is charged, it will last five to ten plus days (except for Zip model which has 6 month watch battery). If you don’t have a FitBit, you need to buy one. They have so many interesting features and are easy to use. Challenges and competitions on the app are insane. The FitBit is an amazing product. The FitBit has great additional features. From the cheapest model, the Zip, being able to track not only steps, but distance, calories burned, active minutes, and being water...
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...FITBIT CHARGE 2 Let me introduce you into the world of Fitbit. There are different models available for purchase however I am going to demonstrate the Fitbit Charge 2. Reasons for buying an activity tracker vary however the most common reason is to help obtain a healthy lifestyle. There are so many features packed in a wristband such as: monitoring your heart rate, monitoring your activity, monitoring your sleep, multi-sport monitoring, and it also provides you with notifications from your smartphone. Let’s Take a Look The Fitbit Charge 2 is a model that runs in between some of the more expensive models and the lesser expensive models. It also considered one of the slimmer designs than some of the other models although there are other slimmer...
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...The third suggestion for Fitbit Inc. is using professional cyber security product such as Rustuing Unternehmen Aktiengensellschaft (RUAG) to improve customer data security (RUAG, 2014). . Every company should evaluate themselves if they have enough technologies to control their customer’s data, how well they can do to protect their customer information from different kinds of cyber-attack. Customer data privacy threat is a problem that need to pay lots of attention and effort but still extremely hard to eliminate. Although Fitbit Inc. is just medium-sized company that have limit resource. Fitbit Inc. still need to put most resources on aspects that can help company growing, so introduce professional cyber security product to improve data privacy...
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...The first action Fitbit Inc. needs to do is establish an internal comprehensive security platform, This has two aspects, one is to enhance encryption practices, another aspect is improve the company’s security culture to educate and train all Fitbit Inc.’s employees about the importance and risk of customer data security (Toubba, 2006). Encryption is a security approach that can help users to scramble all content of systems and documents. In this case, only authorized viewers who have key can read the protected information. Using professional IT security activities to improve company’s data encryption is important. This is an essential approach that every company should take, however, if the company fail to follow the encryption practices...
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...desire. Fitbit Aria smart scale is a great fitness and weight product with exceptional functions that will help you lose weight, carefully keep track of every step and achieve your fitness goals. It is a bathroom scale that can match any type of bathroom because it is well designed. This top designed scale is durable and it deserved all the attentions it’s getting. Fitbit Aria tracks your body fat percentage and weight rather than how much you move about. A look at the scale capabilities shows that it is very easy to use because it can connect to Wi-Fi at your home. Whenever you step on Fitbit Aria, it records your information and syncs it automatically to your Fitbit online account. With fitbit app, setting up the fitbit aria is very simple. This scale measures your weight, your body mass and the percentage of your body fat. Fitbit Aria can handle weights of up to 350 pounds and the great news about it is that, it remembers your previous weight so that you can know the level of your progress in weight loss. Fitbit Aria has a great memory and can store up to eight individual profiles, therefore you can get all your family members involved in...
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...Fitbit Jawbone Misfit Runtastic Introduction Fitbit predominantly manufactures electronic activity trackers which place an emphasis on health, exercise, and weight loss. In the past, Jawbone has focused on portable audio devices, such as speakers or headsets, but as of 2011, the company also creates activity trackers similar to Fitbit's. Invent and manufacture wearable and smart home products. Runtastic offers products and services that all focus on gathering and managing sports data in order to motivate people to do sports and to link like-minded people. What Is Tracked Fitbit Flex and Fitbit One: steps, distance, calories burned, sleep, exercise workouts. Only Fitbit One tracks stair climbing. Both devices allow users to keep a food diary. Both UP24 and UP track steps, distance, calories burned, sleep, and exercise workouts. Both devices...
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...Product/Service Environment Fitbit Fitness Tracking Introduction Fitbit Inc. is an American company based in San Francisco, California. It was founded by James Park and Eric Friedman. According to the company’s website, their mission is to inspire people to live healthier and active lives. Their well-known products carry the same name as the company which produce a range of exercise and activity trackers. The products, that are worn on the user's wrists or clothing, collects and measures data including the quality and pattern of sleep, the intensity of exercises, and other personal metrics. The fitbit range has proven its significance through the growing demand for a healthier lifestyle and a product that can accurately measure that process. This report will analysis the macro-environment and the micro-environment of Fitbit Inc. and its products. Macro-Environment Political/Legal - Recently facing accusations of ‘inaccurate heartbeat monitoring’ and facing a class action lawsuit in the USA. - In a world that is dominated by cyber activity, users have been gradually aware of their sensitive personal data being uploaded online. In the case of fitbit, the company was criticised for automatically uploading personal information including their sexual activity. Economical - Due to the release of the new smartwatch Blaze, the share price of fitbit has fallen 20% due to inconfidence within the investors. They sense the strength of...
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...The two stocks I chose for the sell-side analyst are Fitbit Inc. (FIT) and CB Richard Ellis Group, Inc. (CBG). Through intensive research and evaluation of the two stocks I strongly believe that FIT will underperform the S&P 500 and CBG will outperform the S&P 500. I believe that CBG will outperform the S&P 500 in the coming fiscal year based on the firm’s strong background, prior history, and comparative advantage. I believe that FIT will underperform the S&P 500 in the coming fiscal year due to its recent stock decline, lack of innovation, and the credibility of its well-known competitors. CB Richard Ellis Group Inc., or simply CBRE, is a worldwide real estate services & investment firm that serves real estate owners, investors, and occupiers throughout the world. In short, CBRE offers strategic and execution advice for a multitude of real estate properties and investments. According to CBRE’s website, “CBRE consists of 70,000 professionals whom provide outcomes for clients in 60+ countries”, based off this information it is clear that CBRE is an enormous firm that is continually expanding and improving. According to CBRE’s official website it had substantial revenues of around $10.9 billion. Based on the company’s recent history it’s quite evident that CBRE is one of the most dominant firms in its field for numerous reasons. For one, its size, CBRE Group, Inc. is the world’s largest commercial and real estate services and investment firms. Not only is this firms size quite...
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...energetically work towards the attainment of the organization goals. The important relationship between motivation and economics lies within—human needs, the goals people seek to attain, the characteristics of people that influence the motivational process, and the influence of rewards. The term motivation is a state of mind, desire, energy or interest that translates into action (Nahavandi et al., pg 144). An organization must continuously provide the right climate and opportunities to motivate their employees. The organization mission, the culture, the management style, and goal all provide the environment setting. In 2007, the founders of Fitbit (James Park and Eric Friedman) recognized the advanced development of wireless technology and created and designed a wearable product that changing the way we moved. The mission of Fitbit is (Fitbit, Inc. 2016): “To empower and inspire you to live a healthier, more active life. We design products and experiences that fit seamlessly into your life so you can achieve your health and fitness goals, whatever they may be.” The organization is a passionate team dedicated to health and fitness that develops products to help transform people’s lives. Encouraging people to have fun, smile, and feel empowered during the journey to becoming...
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...Contents PIC and target market summary 3 Chartering for Ideation 4 Top 5 Ideas 4 Concept Ideation process 7 Controlled Convergence 8 Positioning statement 10 Product concept 11 Competitive comparison 11 Perceptual map 12 Product design 13 Pricing Strategy 16 Costs 16 Sales Forecast 16 Sales Forecast 17 Profit and Loss Statement 17 Table: Profit and Loss Statement 18 Sensitivity Analysis 18 Margins 18 Break-even Analysis 19 Payback Period 19 Net Present Value of Future Cash Flows 19 Unique selling proposition 20 Launch 20 Fitbit advertisements 20 YouTube Viral video 20 Reebok: Crossfit Games 21 In store/ on ground- gym facilities and sporting events 21 Digital social media 21 Website traffic 21 Google Ad words 22 Feedback 22 Media schedule and messaging 22 Electronic direct mail 22 Stock sale and monitoring 22 Sales statistics 22 Gant media schedule 23 Potholes 24 Call to Action 24 Appendices 1 26 Brainstorming Method 26 The Worst Idea Method 26 Relationship Analysis Method - Multi-dimensional / morphological matrix 27 Problem based approach using Voice of Customer through product reviews 27 Highs 28 Lows 28 Highs 31 Lows 31 Market based ideation 32 Problem Analysis of workout market 32 Attribute ideation Method 33 Appendices 2 34 Appendices 3 36 Executive Summary PIC and target market summary Health is opening up a new revolutionary advances within the industry of wearable...
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