Fitbit Marketing Plan

2545 words 11 pages
Marketing Plan
Marketing Plan

Executive Summary

FitBit is dedicated to helping people live healthier and more active lives. The company aims to create innovative, inspiring products and online services that combine the power of new technologies to make people more aware of their diets, daily activities and motivate them to do more exercises.
FitBit is a wireless health and sleep tracker. The company’s goal is to provide a unique product, rich features at a highly competitive price. Target segmentation includes athletes, students, professionals and other groups in Australia. The product will be distributed to most of the electronic specialty stores and online. The tiny device will help people taking advantage of their
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Threat of substitute products or services
Competitors within the industry could offer better designed devices with more functions. For example, IPod Nano can play radio and music.
Bargaining power of customers
FitBit buyer’s power is strong which they demand lower price and better service from the provider, knowing they can switch to another company.
Bargaining power of suppliers
Suppliers are most powerful when switching costs is high, especially when the products have few or no substitutes.
Intensity of competitive rivalry
FitBit has high competitive rivals in the retail industry such as Apple, Tech4O, Omron and so on. FitBit and its rivals compete among themselves on price, quality, product and place.

Analysis of competition
SWOT Analysis Strengths * Measures exercise & actual sleep * One button design * Wireless synchronization * Sleek design * Affordable pricing * Extensive battery life * Free membership | Weaknesses * Not waterproof * Lack of brand awareness * Limited display | Opportunities * Constant increase in demand for a healthy lifestyle * Sleek design can make the device a fashion accessory * Multi features combined into an affordable device can bring a wider target audience | Threats * Existing well known pedometer companies * More features of competitors’ products |
Value Chain Analysis Primary Activities