Situational Analysis
Product Description
The owlet baby monitor is a small wireless adjustable sock that can fit any size baby foot. The purpose of the sock monitor is to monitor the heart rate and the oxygen levels of the infant while the baby sleeps to prevent signs sudden infant death syndrome. The sock communicates by sending live vital signs about the baby to a base station or smart phone. When the baby vital sign falls below a certain rate the device alerts the base station or the app with an alarm. This device gives parents a peace of mind in knowing that their child is being monitored while their baby is sleeping.
Company Description The company name is Owlet Baby Care LLC and was started in 2012 by founders Kurt Workman, Jordan …show more content…
Sales history is composed of the company’s revenue from the sales of the product or service for a given time period. Sale history is mainly used to predict future sales of the product or service to predict the volume of future sales. Knowing the sales history of a product or service can aide in sale trends of consumer buying behavior and coming up with a budget. Trends in sales can range from the type of product, region, season of the year and/or demographic of the customers. Since Owlet is fairly new and private therefore the company’s sale history is not that extensive as other companies in the market. However, in October of 2015 the company’s revenue for that period was 1.40 million dollars. Later on, within a 7 months’ time frame in May of 2016, Owlets revenue increased 66% to 2.06 million. Market share. Market share is defined as the percentage of a business sales that is earned over a certain time period. The business market share is the portion of the company’s total sales in relation to other companies alike. The company that holds the larger portion of the market share has market power. Market power is the firm’s ability to manipulate the price of a product in the market by manipulating the supply, demand or both (). In the case of Owlet, compared to their competitors, their market share is 10.51%. Market dominance is given to the product Baby Vida, whose market share is 71.46% of the …show more content…
In addition, Owlet device tries to mimic the hospital grade monitors by adding an alarm that signals off alerts (). Owlet is working on achieving the same level of pulse oximetry readings from newborn infants as hospital monitors are (). The disadvantages to this device are there “no mention of privacy and hacker concerns” (). Political/Legal Currently, the device is not FDA approved and is not appropriate for clinical use as of yet. The company is working closely with researchers and clinicians to be approved and cleared to be used in the hospital. Another limitation that the device doesn’t have the ability to be set to appropriate heart rate and alarm thresholds as medical monitors. Social/Cultural The social influence would be the importance of safety. Unlike, their competitors, Owlet is very fashionable and comfortable. The device is not complicated to assemble or to wash. Since, the device is more modern looking it fit in with the lifestyle of the middle and high class population.
Product Description
The owlet baby monitor is a small wireless adjustable sock that can fit any size baby foot. The purpose of the sock monitor is to monitor the heart rate and the oxygen levels of the infant while the baby sleeps to prevent signs sudden infant death syndrome. The sock communicates by sending live vital signs about the baby to a base station or smart phone. When the baby vital sign falls below a certain rate the device alerts the base station or the app with an alarm. This device gives parents a peace of mind in knowing that their child is being monitored while their baby is sleeping.
Company Description The company name is Owlet Baby Care LLC and was started in 2012 by founders Kurt Workman, Jordan …show more content…
Sales history is composed of the company’s revenue from the sales of the product or service for a given time period. Sale history is mainly used to predict future sales of the product or service to predict the volume of future sales. Knowing the sales history of a product or service can aide in sale trends of consumer buying behavior and coming up with a budget. Trends in sales can range from the type of product, region, season of the year and/or demographic of the customers. Since Owlet is fairly new and private therefore the company’s sale history is not that extensive as other companies in the market. However, in October of 2015 the company’s revenue for that period was 1.40 million dollars. Later on, within a 7 months’ time frame in May of 2016, Owlets revenue increased 66% to 2.06 million. Market share. Market share is defined as the percentage of a business sales that is earned over a certain time period. The business market share is the portion of the company’s total sales in relation to other companies alike. The company that holds the larger portion of the market share has market power. Market power is the firm’s ability to manipulate the price of a product in the market by manipulating the supply, demand or both (). In the case of Owlet, compared to their competitors, their market share is 10.51%. Market dominance is given to the product Baby Vida, whose market share is 71.46% of the …show more content…
In addition, Owlet device tries to mimic the hospital grade monitors by adding an alarm that signals off alerts (). Owlet is working on achieving the same level of pulse oximetry readings from newborn infants as hospital monitors are (). The disadvantages to this device are there “no mention of privacy and hacker concerns” (). Political/Legal Currently, the device is not FDA approved and is not appropriate for clinical use as of yet. The company is working closely with researchers and clinicians to be approved and cleared to be used in the hospital. Another limitation that the device doesn’t have the ability to be set to appropriate heart rate and alarm thresholds as medical monitors. Social/Cultural The social influence would be the importance of safety. Unlike, their competitors, Owlet is very fashionable and comfortable. The device is not complicated to assemble or to wash. Since, the device is more modern looking it fit in with the lifestyle of the middle and high class population.