Home > Free Essays > Business > Company Analysis > Fitbit Incorporation: Market and Product Objectives

Fitbit Incorporation: Market and Product Objectives Case Study

Exclusively available on IvyPanda Available only on IvyPanda
Updated: May 13th, 2020

Headquartered in San Francisco, Fitbit Incorporation is “one of the leading marketers of devices that can measure various human metrics” (Ferguson et al. 46). Such “fitness trackers measure data such as quality of sleep, steps walked, and distance covered” (“Fitbit Official Site for Activity Trackers & More” par. 3). The company’s objective is to ensure more people have healthy lifestyles. The major products marketed by the company include “Fitbit Tracker, Fitbit Ultra, Fitbit Charge, Fitbit Charge HR, Fitbit One, Fitbit Surge, and Fitbit Flex” (“Asia’s Wearable Device Market Shows Great Potential” par. 5). This essay discusses how Fitbit Incorporation can market its new products in the United States.

Current Market

Fitbit Inc. has many customers in the United States. The market is characterized by individuals who want to monitor their daily activities and exercises. The company’s devices have “the potential to track steps taken, activity intensity, sleep quality, and calories burned” (“Asia’s Wearable Device Market Shows Great Potential” par. 2). This fact explains why more people have been purchasing the company’s devices. The firm produces upgraded devices and apps for its growing number of customers. Statistics show that the company’s market has been increasing steadily. Its website makes it possible for every user to calculate his or her Body Mass Index (BMI), heart rate, distance walked, food intake, weight, and blood pressure. The company targets casual exercisers and other fanatics who might be interested in its superior devices (Sweo and Pate 37). However, new efforts have been identified in order to ensure the company markets more products.

New Markets

Fitbit Incorporation is currently focusing on a powerful marketing strategy. For instance, the company has launched improved devices that can address the changing expectations of many sportspeople. For example, devices such as Fitbit Charge, Fitbit Charge HR, and Fitbit Surge have become useful to many sportspeople. The company’s website “shows people how to use various devices to make progress in their respective sporting activities” (Ferguson et al. 44). The versatility of the firm’s products makes it possible for many users to get the best results (Sweo and Pate 48). The devices are also easy to use thus making them appropriate for different people. This fact shows how Fitbit Inc. will benefit from the increasing number of potential customers.

New markets are “also emerging in different parts of the world” (Ferguson et al. 44). New competitors have also emerged in the industry thus making it appropriate for Fitbit to identify better entrepreneurial strategies. The company has launched a new marketing strategy in order to increase its presence across the globe. The company is also producing new products in order to have a successful marketing strategy. The company is also using several videos to sensitize more people about its superior products (“Fitbit Official Site for Activity Trackers & More” par. 2). The important goal is to increase awareness and ensure more people are purchasing the company’s products.

Fitbit’s New Product

Fitbit Incorporation can introduce a new product in order to emerge successful. This goal can be achieved by producing a superior device that can fulfill the changing needs of every targeted customer. The proposed new product is Fitbit Super Charge. This product can be “designed to work with different smartphones such as the iPhone 6” (Fitbit Official Site for Activity Trackers & More” par. 5). The product should also have various features that will make it superior and easy to use. The company’s device should also come in different colors.

The proposed Fitbit Super Charge will make it possible for the company to deal with competition. The proposed product will deliver the best features to the targeted customers. The new device will also be easy to use. The firm can also ensure the device resembles a smart-watch in order to make it more admirable. More customers will therefore be willing to purchase these new devices (Kotler and Armstrong 76). The proposed device should also be able to track a person’s fitness information and data. The new device should have a powerful heart-rate monitor. This aspect will make it more convenient for different people. The new device will “come with an inbuilt GPS thus making it possible to track distance, elevation, and pace” (Ferguson et al. 47).

The proposed Fitbit Super Charge will also have a calorie counter and a heart-rate monitor. The product will have a textured armband in order to make it more comfortable. It will also come in different colors such as blue, tangerine, plum, and black. The device’s band clasp can be similar to that of a traditional watch. These superior features will make it more favorable and appropriate for many customers (Ferguson et al. 44). The proposed fitness device will continue to make Fitbit Incorporation successful.

Target Markets

It is agreeable that fitness trackers have become popular in different western countries. That being the case, Fitbit should identify new markets for its new Fitbit Super Charge. The first target market should be characterized by athletes and other sportspeople. Fitbit’s new devices should have the potential to address the changing needs of many customers across the world. The company can also focus on various people who engage in different sporting activities. This segment includes footballers, boxers, athletes, and celebrities (Kotler and Armstrong 62). Companies such as Nike and Apple have produced powerful fitness trackers for their customers. This development shows that the sector might become very competitive in the future.

Fitbit Incorporation should also focus on fitness fanatics in different states across the nation. These fanatics include individuals who want to monitor their weights and have healthy lifestyles (“Asia’s Wearable Device Market Shows Great Potential” par. 2). Certain health complications such as cancer are encouraging more people to exercise regularly. The availability of devices such as the Fitbit Super Charge will ensure more people get the best health outcomes. Fitbit should also focus on the youth because they engage in various sporting activities. Such youths will eventually support the company’s business goals. The targeted customers can also be found in different parts of the world. That being the case, a powerful marketing approach will make it possible for Fitbit Incorporation to become a leading player in the industry.

Points of Difference

The new product will have specific strengths thus making it superior. For instance, the device can be used with different smartphones. Many people in the above segments have smartphones thus making the product appropriate for them. As well, the product will measure a person’s heart-rate. The customer will make the best selection because the device is offered in different colors. It also has a calorie counter thus making it appropriate for many users (Ferguson et al. 49).

These differences explain why the devices will attract more customers and eventually make the firm successful. The proposed Fitbit Super Charge will also have a superior activity tracker. This tracker will make it possible for users to monitor their activities. The device will also track distance and elevation. It will have an inbuilt GPS that tracks the user’s pace. These features will ensure Fitbit Inc. realizes its potentials.

Positioning: Perceptual Map

A powerful positioning strategy is needed in order to market the proposed Fitbit Super Charge. The sector is characterized by different competing products from companies such as Fitbit, Nike, and Apple. Different attributes should be used in order to support the firm’s marketing strategy. Some of these attributes include accuracy and comfort. The perceptual map presented below shows clearly that Fitbit’s products can succeed in the market. The targeted customers should therefore be informed about the appropriateness, suitability, and accuracy of these devices (Kotler and Keller 94). The approach will eventually make it possible for the company to achieve its potentials.

Perceptual map for Fitbit Incorporation.
Fig 1: Perceptual map for Fitbit Incorporation.

Fitbit’s new product has powerful attributes that will definitely make them successful. The proposed device will be very accurate. Its battery will also last longer (Ferguson et al. 44). The device will be comfortable to wear thus encouraging more people to use it whenever engaging in various sporting activities. The targeted positioning and marketing strategies should therefore inform more customers about the strengths of this new device (Kotler and Keller 74). The company should also use its website to inform more people about this fitness device. The approach will eventually make the product successful in the market.

Works Cited

Asia’s Wearable Device Market Shows Great Potential 2015. Web.

Ferguson, Ty, Alex Rowlands, Tim Olds and Carol Maher. “The validity of consumer-level, activity monitors in healthy adults worn in free-living conditions: a cross-sectional study.” International Journal of Behavioral Nutrition 12.1 (2015): 42-51. Print.

2015. Web.

Kotler, Phil, and Kevin Keller. Marketing Management, Upper-Saddle River, NJ: Prentice Hall, 2008. Print.

Kotler, Philip, and Gary Armstrong. Principles of Marketing, Upper-Saddle River, NJ: Prentice Hall, 2009. Print.

Sweo, Robert, and Sandra Pate. International Business: A Practical Approach, New York: CreateSpace Independent Publishing Platform, 2014. Print.

This case study on Fitbit Incorporation: Market and Product Objectives was written and submitted by your fellow student. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly.
Removal Request
If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda.
Request the removal

Need a custom Case Study sample written from scratch by
professional specifically for you?

801 certified writers online

Cite This paper
Select a referencing style:

Reference

IvyPanda. (2020, May 13). Fitbit Incorporation: Market and Product Objectives. https://ivypanda.com/essays/fitbit-incorporation-market-and-product-objectives/

Reference

IvyPanda. (2020, May 13). Fitbit Incorporation: Market and Product Objectives. Retrieved from https://ivypanda.com/essays/fitbit-incorporation-market-and-product-objectives/

Work Cited

"Fitbit Incorporation: Market and Product Objectives." IvyPanda, 13 May 2020, ivypanda.com/essays/fitbit-incorporation-market-and-product-objectives/.

1. IvyPanda. "Fitbit Incorporation: Market and Product Objectives." May 13, 2020. https://ivypanda.com/essays/fitbit-incorporation-market-and-product-objectives/.


Bibliography


IvyPanda. "Fitbit Incorporation: Market and Product Objectives." May 13, 2020. https://ivypanda.com/essays/fitbit-incorporation-market-and-product-objectives/.

References

IvyPanda. 2020. "Fitbit Incorporation: Market and Product Objectives." May 13, 2020. https://ivypanda.com/essays/fitbit-incorporation-market-and-product-objectives/.

References

IvyPanda. (2020) 'Fitbit Incorporation: Market and Product Objectives'. 13 May.

Powered by CiteTotal, cite machine
More related papers