Swot Analysis Of Fitbit
Fitbit has taken physical activity tracking to the next level. Their business model and understanding of consumer needs has led this company to flourish. Fitbit knows the importance of marketing and strategically plans all of the various aspects of its marketing to assure that it will satisfy the consumer. The purpose of this project is to analyze the marketing aspects of the Fitbit organization as well as to make a recommendation for potential changes that could better the overall marketing of Fitbit products.
Description and Brief History of Fitbit James Park and Eric Friedman founded Fitbit, a wearable product company- headquartered in San Francisco, in 2007 (Fitbit, 2016). Park and Friedman saw the potential …show more content…
Fitbit offers a specialized product line of activity trackers, primarily worn on the wrist, to track the steps, heart rate, stairs climbed, and even the number of hours and quality of sleep each night for its users. Fitbit products sync to mobile devices and to computers via a Bluetooth connection associated with the Fitbit application, which utilizes a dashboard so that users can track their daily activities and even their food and water intake. The company does not try to produce products that stray from their purpose of providing a product that can be integrated into the daily life of a user while making fitness more fun and easier to track (Felker, …show more content…
While there are many activity-tracking devices that can be utilized like a Fitbit, many of them are not accessible by Android users due to technological incompatibility. However, Fitbit has become the first company of its kind to offer an activity-tracking product that can be synced to the Android operating system as well as offering Bluetooth 4.0 syncing on all compatible devices so that users can see their progress in real time on their mobile devices (“Fitbit,” 2013). Fitbit products are available in many retail stores all over the world.
The New 4 P's In such a competitive and customer driven market, marketing has become a very complex field that requires more attention now than ever. With this new complexity comes a new, modern look on marketing that is imperative to keep the success of Fitbit going. This new look on marketing consists of updating the old 4 P’s of marketing with the new 4 P’s of marketing: people, processes, programs, and performance (Kotler & Keller, 2015).
People. Fitbit knows that for its success, its employees need to understand the product, and that means living the product. At the headquarters, Fitbit provides healthy snacks for its employees. Fitbit provides work out equipment, as well as work out classes, to encourage its employees to live a healthier life (Truong, 2015). Fitbit cares for its employees because “marketing will only be as good as the people inside the organization” (Kotler & Keller,