Summary
Fitbit smart sense watch has led to the success of the company due to its upgraded features. The smartwatch tracks blood oxygen, stress, temperature, and sleep. The gadget has helped fight against the current COVID-19 pandemic since individuals can easily monitor their temperatures. Moreover, it helps the user keep track of health metrics, including heart rate, breathing rate, blood oxygen level (SpO2), and indicates a fever. Thus, these records can help individuals during this pandemic as they can track their body changes. The goal of the sense in the health sector is to guarantee that diseases can be detected before the user experiences more health complications. An electrocardiogram (ECG) was installed in the Fitbit in 2020, which has enabled people to monitor their health effectively. Thus, a marketing plan can be used to attract more users of the Fitbit smart sense and increase the company’s sales.
Market Situation of Fitbit Smart Sense Watch
Features such as accessing Google assistant are more advanced in Fitbit smart sense than in Fitbit versa 2 since Fitbit smart sense has a faster processor. Consequently, many people are attracted to the products since it is more advanced. However, there is a lag in apps’ opening as it takes around 30 seconds to launch the features (Miropolsky et al., 2020). The charging station of the sensor has been improved. Instead of using the alligator-style clips, unlike earlier Fitbit, it uses a magnetic charger that easily attaches to the back of the watch. Sense uses sweat through the electrodermal (EDA) to track stress, and the process takes two minutes (Miropolsky et al., 2020). In the fitness track, not much has changed since Fitbit has brought back GPS, where people can track their movement (Gaudet, 2021). Therefore, individuals do not necessarily have to use their phones while training. Moreover, many people are using the products in various countries, which has led to the business’s competitive advantage.
The target market for the approach is the athletes since they largely focus on the changes in their bodies. Moreover, sports involve the use of strength, and individuals should be mentally and physically fit. Another major target involves people living with various conditions. For instance, patients with diabetes and hypertension will be encouraged to purchase the product and ensure that they monitor the changes in their bodies. The current pandemic has also led to the increased demand for healthcare products. Thus, the general population will also be a target, whereby the public will be educated about the importance of tracking their temperatures using the Fitbit sense smartwatch. The target market strategy will involve advertising on TV and radio channels, social media platforms, and billboards.
Competitive Analysis
Competitive analysis is essential during a marketing plan since it helps individuals develop strategies to limit competition. Furthermore, business rivalry is inevitable, and managers should guarantee that they design strategic plans to increase their market share. Modern technology has led to many changes in companies that manufacture accessories since many people focus on gadgets that have been developed using modern technology. Thus, firms are focusing on ways to advance their products to attract and retain more users.
Fitbit has more relevant data collection techniques than its competitors. It has benefited more due to its appropriate data and network effect, which has attracted more users. Continuous innovation has been one of the factors leading to the success of Fitbit products. Over the years, the company has improved its products’ technology. For instance, Fitbit sense has the firm’s market share due to the increased sales despite facing competition from other companies. Fitbit has become generic in the fitness track, although it faces rivalry from Samsung, Huawei, and Apple Inc.
Due to the competition from companies that already have their smartphones, Fitbit has been able to add features that do not exist in the phones to attract more customers. Although companies such as Samsung and Apple have developed various gadgets to attract more customers, Fitbit has become competitive due to its focus on people’s health (Casselman et al., 2017). The increased cases of diseases such as diabetes and cardiovascular illness have led to more people focusing on their health. Hence, the Fitbit smartwatch sense is popular as it focuses on a crucial aspect that impacts all individuals. However, the company should focus more on innovating the health diagnostic capabilities to increase its market share.
In the health sector, large technology companies such as Apple are also focusing on improving the lifestyles of individuals. Companies have introduced gadgets that can monitor glucose levels and calories. Hence, Fitbit’s sense capabilities should be improved to ensure that these aspects are available to warrant that the business remains competitive. Fitbit should research more on clinical capabilities and improve the abilities of the products.
Digital healthcare has attracted many significant players who are developing different applications to solve the problem. Companies such as Apple and Huawei are also developing ways to improve medical service by manufacturing improved gadgets with multiple features (Balbim et al., 2021). Technology has become a major aspect of the contemporary world. Thus, all smartwatch companies aim at developing their accessories to fit modern society. Consequently, different sensors should be added by Fitbit to ensure that it does not experience decreased sales due to competition.
Competitors such as Huawei, Apple, and Samsung promote their products by advertising on social media platforms and TV and Radio channels. For instance, Huawei has used YouTube ads to promote its goods, which has helped the company attract more customers. The companies have also lowered prices due to competition, whereby companies such as Samsung and Huawei are offering discounts. Distribution of the goods by the companies has also been exercised to ensure that people can purchase the gadgets in different areas. Samsung, Apple, and Huawei have partnered with firms such as Alibaba, DHL, and Amazon to ensure that they can ship products to various destinations. Modern technology has also been used to improve the performance of the products. For instance, Huawei watches fit features include a colorful AMOLED display, ten days battery life, fashion design, and a sleep and heart rate monitoring app.
SWOT Analysis
Many organizations have used SWOT analysis to determine ways that can be exercised to improve their performance. Strengths are examined by businesses to help them become more competitive by investing in their strengths. Weaknesses are also analyzed to guarantee that approaches are implemented to limit the flaws and turn them into strengths. Opportunities are also available in many sectors, whereby managers ensure that their organizations can introduce their products and services in markets and existing markets. For instance, the Fitbit smartwatch can be introduced in different countries to help people monitor various conditions. Threats in businesses are also a major issue that can impact the performance of a corporation. For instance, new entrants are the major threats in many sectors. Thus, Fitbit’s SWOT analysis can be examined to guarantee that the company improves its sales despite facing various challenges such as competition.
Strengths
One of the strengths is that Fitbit has maintained a strong position among other competitors in the industry. The new Fitbit has health features that have created strong brand awareness (Frue, 2019). Its health and fitness technology has improved and has stabilized the company since it involves modern technology. Another pro of the Fitbit smartwatch is its capability to monitor different body changes (Miropolsky et al., 2020). In this case, the sensor can detect oxygen in the blood, check the temperature, and monitor sugar levels, which are major aspects of testing multiple conditions.
The company has expanded its market share, which is also a major strength. In this case, the number of users of the Fitbit sense watch has increased due to the corporation’s technology. Fitbit has one of the largest fitness apps on Google, whereby the app allows users to connect to different devices in various sectors. For instance, sports tracking apps and the health sector have largely helped the company to remain competitive (Miropolsky et al., 2020). Google is the parent company of Fitbit, which has also helped Fitbit to attract more customers due to Google’s recognized brand. Moreover, Google’s research supports Fitbit, making more technological adjustments, and creating a more competitive advantage.
Many people have also used the Fitbit sense smartwatch during the current pandemic. Doctors have encouraged people to focus on changes in body temperatures since the virus largely impacts one’s temperatures (Gaudet, 2021). Moreover, physicians have argued that the virus requires individuals to keep track of their breathing patterns and overall body fitness. Therefore, Fitbit can monitor these aspects, which have led to the attraction of many clients subscribing to their Fitbit premium. Fitbit Company also directly connects with its users; hence it ensures that people can learn how to use the devices effectively. Thus, the approach has helped the company attract users in many countries since it maintains a great relationship and creates a strong bond with its clients. The strengths are essential since they can be used in the marketing plan to ensure that more people are attracted by the Fitbit sense smartwatch.
Weaknesses
Weaknesses can also be analyzed since they can impact the marketing plan of the organization. For instance, Fitbit has limited value since fitness and health are the only features it has, and products that have less functionality last for a short time. Devices that are likely to offer advanced applications such as Fitbit will be more successful because customers upgrade their devices when new models are available. Moreover, the Fitbit metrics are inaccurate, and many people have criticized them for offering estimated figures instead of actual statistics. This view has shown why some people may not go for their products for their health; research has shown that the heart rate can miscalculate by 20 beats per minute (Miropolsky et al., 2020). Therefore, this has largely impacted the sales of the Fitbit sense smartwatches.
Additionally, Fitbit should improve and focus on calorie intake and body mass index. Another weakness is that Fitbit has failed to adapt to more innovative features, leading its competitors such as Apple companies leading in the market (Gaudet, 2021). Cheaper competitors with more features than Fitbit show that it can be hard for the company to expand its market share. More affordable products from different companies with the same functionality have led to low market share. Companies such as Huawei, and Xiaomi are some of the companies that offer wearable fitness products at lower prices.
Similarly, many handset manufacturers offer products with greater functionality than Fitbit products. The smartphone companies provide the same features as Fitbit. Some wearable device companies have more advanced features than Fitbit, which helps them to be more competitive. All the companies offering the same services tend to look for ways to improve their services to their clients. These weaknesses should be analyzed and minimized in the marketing plan to help the organization remain competitive. Innovation can also be encouraged to guarantee that workers develop more apps in the Fitbit sense smartwatch to attract more users.
Opportunities
Fitbit has built a strong interest in the health sector due to the developing innovation and upcoming new technologies. Due to the Fitbit gadget’s exceptional features such as target sensors, large datasets, and learning algorithms, it can ensure that it markets its products in various areas (Frue, 2019). With the development of the Fitbit sense watch, the industry has been ranked among the best in its contribution to healthcare. Consequently, this is an opportunity for the company to increase its sales by encouraging more customers to purchase the products. Sports are also common in the modern world, and health is a major factor in various games. Moreover, athletes should ensure that they are physically fit to perform well in the competitions. Hence, the company can seize the opportunities available in various sports by motivating athletes to use the Fitbit sense smartwatch.
Research has also revealed that the Fitbit sense smartwatch can largely benefit people during the pandemic by monitoring temperatures. The partnership of the Feinstein institute of medical research shows that some diseases such as COVID-19 can be identified with 50% accuracy (Miropolsky et al., 2020). Fitbit sense is focused on advancing the health sector and has ensured that it helps deal with the current pandemic, an effective approach. Fitbit’s sense capability to identify a health problem can help the company attract more customers during the pandemic.
More apps are also needed, whereby Apple Company, one of the Fitbit competitors, has more apps, making it more competitive. Therefore Fitbit can focus on new apps that can involve issues such as nutrition to attract more customers. Fitbit has improved the sports industry, whereby sports sensors are becoming more critical for professionals. This has made training and tracking easier since the device is wearable, and it helps check if one has met the target. However, only a few people are aware of the apps available. Therefore, marketing can be practiced using social media platforms and TV and radio channels to attract more clubs to purchase the products.
Fitbit should research the different ways that other companies use to keep up with the market. Companies such as Samsung and Apple with smartphone apps have enabled Fitbit to grow. Thus, the company can focus on smartphone capabilities to improve its services and attract more clients. Fitbit can enrich its wearable devices with more diversified sensors. For the company to be more competitive, it should focus on the latest technology since many people are being attracted by devices that are simple to use and can offer various services by implementing modern technology. The presence of sensors in Fitbit in wearable technology provides excellent opportunities for the company to sell its products to people with different conditions. For instance, Fitbit released a blood oxygen saturation sensor that helps diagnose some diseases, such as sleep Apnea, whereby millions suffer from it (Haghayegh et al., 2020). Thus, the opportunities can be analyzed by the organization to ensure that it meets the customer needs and that more people can use its products in various sectors.
Threats
One of the threats is that the organization largely depends on Google. Fitbit being under Google might be challenging with Google’s data policies and its corporate environment. Speculation is that Google might absorb Fitbit and use the data collected over the years to advertise its products. Other assumptions are that Google might use the valuable aspects of Fitbit and use it to develop its products. Fitbit has been doing great in the market with its health-tracking devices. Nonetheless, some people claim that Google can largely impact the development of Fitbit since it primarily benefits from Google’s recognized brand.
Due to health technology demand, more companies are focused on developing the sectors with different innovations. This is a threat to the Fitbit Company since some of these corporations have more advanced smartwatches and are already in the market (Casselman et al., 2017). Such firms have a grand vision of taking over the market, which can impact Fitbit’s sales. Unlike giant companies such as Apple, Huawei, and Samsung, the Fitbit Company is not much known in the smartwatch industry. Hence, their improvement in the health sector would be a threat to Fitbit. Fitbit should also focus on the accuracy of its products. An intelligent sense fitness tracker is not accurate since it calculates the steps and not the calories gained or lost.
Technology is changing, and Fitbit needs to keep up with the changing times. Different brands improve their products due to the clients’ demand to move to more advanced technological devices. Thus, Fitbit needs to advance its products for them to be competitive and increase its market share. The established brands in athletics attract more users, which is also a threat to the company. In this case, companies such as Samsung and Apple have partnered with the sports sector, making it difficult for Fitbit to acquire more users in sports. Competition from the brands with the same features, such as Samsung and Apple, has also limited the company’s sales, which is a major threat. New entrants can also impact the performance of the organization since competition will increase. Moreover, many companies are focusing on opportunities available in the healthcare sector, introducing new products at lower prices. Thus these threats can largely impact the sales of Fitbit, and approaches to limit the threats can be implemented by the organization.
Marketing Strategies
Every organization should implement a marketing approach that can advance it performance and increase sales. Moreover, the approaches are developed to ensure that expenditures are limited and revenues are increased. Fitbit smarts sense is one of the most ambitious and suitable watches to use in the contemporary world. It helps a person take steps towards a better life by enhancing fitness and wellbeing. The Fitbit costs around 348 dollars and the clients are given six months of free trials without paying the premiums. The ECG app, which was activated in 2020, has led to the attraction of more customers (Miropolsky et al., 2020). Thus, the marketing strategy can involve advertising these features to ensure that more people are attracted to the products.
Fitbit has expanded its market through adverts; this has promoted the new product reaching a higher audience. Fitbit’s sense of contribution to the health and fitness sectors has led to more people interested in the product. The Fitbit technology has made it more competitive since the new high-tech enhancements attract people. Consequently, the technology applied in the Fitbit sense smartwatch can be promoted by the company by ensuring that people are informed about the products in various sports and health workshops.
Marketing mix has also been used in many companies to help them develop their sales, whereby 4Ps are used. Product is one of the Ps used in the approach, whereby it involves the goods that accompany intends to sell. In this case, the product that will be marketed is the Fitbit smartwatch sense. Promotion of the products can also involve the four Ps that many businesses exercise. Pricing is one of the aspects involved in 4Ps since it impacts the sales of the products. In this case, the company can ensure that the Fitbit sense smartwatch is affordable to attract more customers. Moreover, the elasticity of demand can be considered when pricing the product to guarantee that people do not choose substitutes. Prices should also involve offering discounts to people who buy a particular quantity. This approach can help the company attract other companies that would like to buy the products for their workers. Moreover, clubs can be attracted since it can be cheap to buy the products for their players. Healthcare facilities can also buy many Fitbit sense smartwatches when offered discounts by the company.
Promotion is also encouraged in 4Ps and can be used in marketing strategy. In this case, promotion can be exercised by the marketing team, whereby managers can ensure that different platforms are used to promote the products. The place where the products will be sold is also a factor to consider in a marketing mix. In this case, the products can be shipped to all countries since they involve healthcare which is a major issue globally. Promotions can also be encouraged in these countries to create awareness of the products.
The use of blogs has helped many organizations to reach more clients. Therefore, the organization can use the approach to promote the Fitbit sense smartwatch and increase its sales. Moreover, creating awareness through blogs can lead to many customers and sponsors such as athletic brands using the Fitbit sense smartwatch. Many people in the modern world are focusing on tending issues. Thus, the company can encourage bloggers to advertise the Fitbit sense smartwatch to guarantee that it trends to attract more users.
In conclusion, the Fitbit sense watch has helped in the provision of good healthcare because of its features. Consequently, the company can ensure that it markets its products to attract more clients concerned with their health. Additionally, conducting a SWOT analysis can help organizations to determine ways that can be implemented to increase sales. In this case, the approach can help Fitbit sell its smartwatches in different countries as it can focus on the opportunities available. Strengths are also analyzed in SWOT analysis, which can help the organization become more competitive and increase its sales. Competitive analysis can also be analyzed during the marketing plans to guarantee that plans to increase competitive advantage are implemented. In essence, the Fitbit sense smartwatch can focus on the marketing plan to improve its performance.
References
Balbim, G. M., Marques, I. G., Marquez, D. X., Patel, D., Sharp, L. K., Kitsiou, S., & Nyenhuis, S. M. (2021). Using Fitbit as an mHealth intervention tool to promote physical activity: Potential challenges and solutions. JMIR mHealth and uHealth, 9(3), 25289. Web.
Casselman, J., Onopa, N., & Khansa, L. (2017). Wearable healthcare: Lessons from the past and a peek into the future. Telematics and Informatics, 34(7), 1011-1023. Web.
Frue, K. (2019). SWOT Analysis of Fitbits: Strengths and weaknesses in wearable tech. Kikao 64. Web.
Gaudet, L. (2021). The piety of optimization: The rhetoric of health awareness in participation and Fitbit. Health, 4(13), 1-17. Web.
Haghayegh, S., Khoshnevis, S., Smolensky, M. H., Diller, K. R., & Castriotta, R. J. (2020). Performance assessment of new-generation Fitbit technology in deriving sleep parameters and stages. Chronobiology International, 37(1), 47-59. Web.
Miropolsky, E. M., Scott Baker, K., Abbey-Lambertz, M., Syrjala, K., Chow, E. J., Ceballos, R., & Mendoza, J. A. (2020). Participant perceptions on a Fitbit and Facebook intervention for young adult cancer survivors: a qualitative study. Journal of Adolescent and Young Adult Oncology, 9(3), 410-417. Web.
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