marketing100-fitbit

[marketing100-fitbit]

Post 12: Promotion

As I have mentioned in previous posts, FitBit has a large social media presence, and their mobile app even doubles as a social networking platform that allows consumers to communicate with one another about ideas and activities related to staying fit and healthy.

Not to mention, they do have a very active Facebook and Twitter presence with users taking advantage of their fast response times, the micro-blogging site has become a tool for FitBit to interact with its customers as well as for customers to gain access to any technical support or problems with their devices, quickly, efficiently, and happily.

FitBit’s social progress does not stop there. In 2016, FitBit took a big marketing step and put an advertisment out during the SuperBowl. While much of FitBit’s advertising strategies are more traditional, their ad got lots of bodies moving...literally! TV advertising is a great and cost effective way to reach the target audience, and then some, quickly and massively. by launching a SuperBowl ad.

http://www.adweek.com/brand-marketing/fitbit-users-are-sassy-and-sweaty-brands-first-super-bowl-spot-169464/

Pressman, A. (2017, January 08). Fitbit Adds Social Feed and Personalized Workouts. Retrieved May 08, 2017, from http://fortune.com/2017/01/05/fitbit-social-feed-motivated/

P. (2015, September 21). Why Tech Rebels Like Uber, Jet and Fitbit Are Embracing Traditional Advertising. Retrieved May 08, 2017, from http://www.adweek.com/brand-marketing/why-tech-rebels-uber-jet-and-fitbit-are-embracing-traditional-advertising-167005/

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Post 11: Distribution

FitBit uses an Exclusive Distribution strategy to effectively get its product into consumers’ hands. On their website, they have provided a list of authorized retailers (including through their online store) that sell FitBit products to ensure that every customer is greeted with only the best products and true to the FitBit name. 

Many people like to create ‘knock off’ versions of Fitbit products and market them as FitBit brand, so by providing consumers with a list of where to get ACTUAL FitBit products, helps eliminate any confusion. The company wants its customers to be 100% satisifed, and they believe that having an exclusive distribution deal is the best way to keep customers happy while maintaining their positive reputation as the top wearable tracking brand. “Fitbit has strict quality control and design requirements to ensure product integrity and maximum functionality. These measures are implemented globally and include manufacturing-based testing for compliance with international electronic and consumer safety and security standards.“

FitBit makes it a point that the ONLY place you can buy their products is through their authorized retailers, and any “FitBit” bought somewhere beside those dealers, are not authentic FitBit products and may have function and quality compromised.

Designer. (2016, October 03). Retrieved May, 2017, from https://www.fitbit.com/in/legal/authorized-retailers?utm_source=TWITTER&utm_medium=social&utm_campaign=SAPAC_81937_605999838_20161003061713_Fitbit News & Product Information_Product News & Updates&linkId=29455054

Hobbs, T., Ritson, M., Smith, N., Roderick, L., Woollen, P., & Joy, S. (2016, March 10). Why Fitbit is shifting focus from fitness to fashion. Retrieved May, 2017, from https://www.marketingweek.com/2016/02/17/why-fitbit-is-shifting-focus-from-fitness-to-fashion/

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Post 10: Trends/Pricing

Fit, B. (n.d.). Designer. Retrieved April 20, 2017, from https://www.fitbit.com/compare As of Feb 1, 2017 the market for wearable activity trackers was stagnant. Unfortunately, all markets hit that peak, but that just means it presents an opportunity for the company to refocus or develop a new product to shake up the market a bit. Fitbit’s struggle in the marketplace does not reflect their validity as a great company with great products, it shows that the market itself is growing very little. FitBit is still the dominating influence in the market for wearables.

With any indication, it seems that FitBit’s solution to reignite the marketplace, may be to lower their prices.

Currently, their pricing is fairly decent. Considering the product itself, its reliability and what you’re actually getting with the purchase of a FitBit, it’s a steal.

Intelligence, B. (2017, January 31). Fitbit's struggles show that the wearables market is stagnant. Retrieved April 20, 2017, from http://www.businessinsider.com/fitbit-struggles-show-stagnant-wearables-market-2017-1

Fit, B. (n.d.). Designer. Retrieved April 20, 2017, from https://www.fitbit.com/compare

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Post 9: Services

With FitBit, you aren’t getting just a product and that’s that.

With every FitBit product, you have access to it’s online community that offers support, from other customers, as well as FitBit staff. Within their website, if troubleshooting becomes necessary, FitBit offers a LIVE Chat everyday from 4am-9pm PT,  Email and Phone Support, and a social media presence that can also be used as customer support. Or if you feel like having a chat with the FitBit team. 

FitBit will also team up with your business to promote Health and Wellness within your own company. By visiting their website or contacting their support department by phone, you can learn about ways to better yourself and your colleagues in a fun way. 

If you need a little extra motivation, FitBit is there for you. If you have access to the app (which is FREE, whether or not you have your own product), there is a community sections chock full of different ways to get you up and moving on your way to wellness, As well as an opprotunity to connect with other FitBit users if you need a little extra inspiration. You can add friends and challenge eachother to different activities to reach and go beyond your personal or group set goals!

http://www.fitbit.com/group-health

http://help.fitbit.com/?cu=1

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Post 8: Brand

FitBit has established their brand presence in today’s market by using a few different ways to distinguish and feature themselves as a legitimate competitor. Their logo makes the brand easily identifiable to those who are familiar with it the industry. And even if someone isn’t, the logo is a simple tool for people to associate and remember the FitBit brand. In addition to their logo, the have a very easy-to-use web presence and since their products are mobile, the brand has established a relationship with mobile phones to create an app compatibility on all smartphone brands, regardless of if a consumer has a FitBit product of their own. 

These 2 examples alone are features that add to Value branding, making something easily accessible and recognizable, builds a reputation for them as a great brand thus adding more value by establishing and maintaining customer loyalty, making it harder for them to stray towards other brands. 

[marketing100-fitbit]

Post 7: Packaging

FitBit’s packaging is very clean, crisp, and easy to spot. Opening the product packaging is very easy and doesn’t make a mess. If you are the kind of person who likes to keep the boxes, or if you need to return it for whatever reason, putting the item back in its original packaging is simple and painless.

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Post 6: Competition

FitBit has a few key competitors that complicate their dominance of the market

Here is a list of the top 5 of FitBit’s top competitors:

- Garmin

- Withings

- Misfit

- Jawbone

- Samsung Gear

*FitBit is affordable, stylish, versatile, and comfortable

It is currently the leader in market share at 23% which is 11% over year growth.

Miller, T. C. (2016, October 26). Top 10 Best Alternatives to Fitbit Fitness Trackers. Retrieved March 12, 2017, from http://heavy.com/tech/2015/02/top-best-alternatives-fitbit-fitness-tracker-withings-jaybird-jawbone-pebble-garmin/

Stables, J. (2017, March 07). Best fitness trackers 2017: Fitbit, Garmin, Misfit, Withings and more. Retrieved March 12, 2017, from https://www.wareable.com/fitness-trackers/the-best-fitness-tracker

Ubrani, J. (2016, December 05). Fitness Trackers in the Lead as Wearables Market Grows 3.1% in the Third Quarter, According to IDC. Retrieved March 12, 2017, from http://www.idc.com/getdoc.jsp?containerId=prUS41996116

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Post 5: Target Market

When FitBit first started up, its target market was aimed at athletes and those who wanted a way to track their activity throughout the day hassle-free.

In recent times, FitBit has shifted its target market to virtually everyone but more specifically, the fashion market. Each new device released comes in different colors, customizable deigns and patterns, and more.

The company has added the appeal to consumers’ emotion to gain sales and a reliable reputation among the fitness-community by releasing new products that look nice and that would make people WANT to wear them 24/7.

FitBit is a product that everyone can use. Men, women, boys, and girls. 

Hobbs, T. (2016, March 10). Why Fitbit is shifting focus from fitness to fashion. Retrieved March 05, 2017, from https://www.marketingweek.com/2016/02/17/why-fitbit-is-shifting-focus-from-fitness-to-fashion/

Writer, S. (2017, March 05). Fitbit Inc (FIT) Has Found Its Own Fit In The Market. Retrieved March 05, 2017, from http://www.businessfinancenews.com/25410-fitbit-inc-fit-has-found-its-own-fit-in-the-market/

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Post 4: SWOT

Strengths:

Easy to use

High customer loyalty

Cutting-edge technology 

Wireless device, lightweight and easily portable.

Weaknesses:

Wireless app not available for Windows phones

People need high motivation to wear the device regularly

Lack of fitness/health credibility

Plain display on bigger devices, or no display on more sleek ones

Opportunities

Snag position as a leader in health and wellness

Search for emergence in the international market to enhance sale

Create more options for customization available to consumers

Partner with new companies or brands to increase revenue

Threats:

New tech start up companies (more competition)

Upkeep with always changing technology (Technological problems could arise)

Limited financial capacity

Less profitability due to growing competition

Moorhead, P. (2013, November 21). Nike, FitBit, Or Jawbone: Who Is Best Positioned To Win In Fitness Wearables? Retrieved March 04, 2017, from https://www.forbes.com/sites/patrickmoorhead/2013/11/19/nike-fitbit-or-jawbone-who-is-best-positioned-to-win-in-fitness-wearables/#76be04cb427e

A. (2015, October 04). SWOT Analysis on FitBit Inc. Retrieved March 04, 2017, from http://www.freeswotanalysis.com/electronic/723-swot-analysis-on-fitbit-inc.html

[marketing100-fitbit]

Post 3: Strategy

FitBit is an affordable, innovative line of producst that has a sleek comfortable design, and can be found at almost all major retail outlets, as well as online. The technology behind the FitBit makes this brand the leading company for wearable activity trackers. CEO James Park has added value to each tracker by setting the standard for its key differentiator being the new SmartTrack update to each fitbit. SmartTrack technology makes each device able to automatically detect when its user has started exercising/working out, and to take it a step further, it has the capability to even identify the exact sport/activity. Previous version of the software made it so the user had to activate exercise mode by the press of a button. 

With the new updates to the technology and the comfortable and stylish design, FitBit has an undeniable sustainable competitive advantage. Back when I was doing my own personal search for a product that tracks my steps, FitBit was the only product that offered that and much more. That and being so available, and affordable, FitBit is a great product.

[marketing100-fitbit]

Post 2: Brand

FitBit is a wireless, wearable activity tracker.

Mission Statement: “ 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.”

FitBit employs 33 corporate members with their public Headquarter Location based at:  

 405 HOWARD STREET SUITE 550 SAN FRANCISCO, CA 94105

FitBit’s annual sales as of the start of 2017 is $504Million (3rd quarter/2016), which is a 23% growth rate from previous quarter.

Designer. (n.d.). Retrieved February 19, 2017, from https://www.fitbit.com/about

Fitbit Reports Third Quarter Revenue Growth of 23% to $504M, GAAP Diluted EPS of $0.11, and Non-GAAP Diluted EPS of $0.19. (2016, November 02). Retrieved February 19, 2017, from https://investor.fitbit.com/press/press-releases/press-release-details/2016/Fitbit-Reports-Third-Quarter-Revenue-Growth-of-23-to-504M-GAAP-Diluted-EPS-of-011-and-Non-GAAP-Diluted-EPS-of-019/default.aspx