";s:4:"text";s:9294:"The BrandGuide section covers SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP of more than 2800 brands from over 20 industry sectors. 1. The ecosystem that Fitbit offers has become very popular with its users, enjoying great success. Becoming part of Google will help Fitbit retain its market position, if Google chooses to keep it alive. Competition is growing in the fitness and health technology space, 2. SWOT Analysis of Fitbits: Strengths and Weaknesses in Wearable Tech Strengths of Fitbits. Fitbit devices are focused on various aspects like weight, walking, running, sleep, vitals etc. Existing brands with existing customers are absorbing market share by selling devices that supplement their primary products as well as compete with Fitbit’s competencies. SWOT Analysis on Fitbit (Based on the last 18 months): Eventually, this is a marketing strategy, and at its center, we have ‘ customer and customer behaviour ’ in mind . Companies like Huawei, Xiaomi, and, to a certain extent, Samsung, have products with similar functionality at lower prices. Smartphone companies are launching smart apps and accompanying devices which are giving serious competition to fitbit. Apple maintains 55% of the smartwatch market with 7.6 million units shipped worldwide. Garmin sales are up 37%, awarding the tech giant with 8% of the smartwatch market. Similar analysis has also been done for the competitors of the company belonging to the same category, sector or industry. Creately diagrams can be exported and added to Word, PPT (powerpoint), Excel, Visio or any other document. Weaknesses of Fitbits. Next. SWOT analysis of Fitbit analyses the brand/company with its strengths, weaknesses, opportunities & threats. 8 . 6. (Statista). Although activity is seen as an imperative to improve an individual’s health, Fitbit places too much emphasis on steps and does not consider important metrics such as body mass index or calorie intake. SWOT analysis of Fitbit An important tool that helps in addressing the central issue of the case and coming up with Fitbit HBR case solution is the SWOT analysis. Devices that have been able to transcend into smart devices that offer enriched features and connectivity are more successful in the marketplace and see more customers upgrading when new models become available. Similar devices are being launched at cheaper prices, 3. 21 Jun, 2020 Fitbit SWOT Analysis. Page 1 of 50 - About 500 essays. The Fitbit metrics have been criticized for being inaccurate. You can edit this template and create your own diagram. Fitbit’s share price dropped 18% in the months after the announcement of the merger with Google. SWOT for Fitbit is a powerful tool of analysis as it provide a thought to uncover and exploit the opportunities that can be used to increase and enhance company’s operations. 14SOURCES: FITBIT FINANCIAL ANALYSIS: RISING REVENUE Q3 REVENUE GROWTH YTD REVENUE GROWTH $409.3 $503.8 $0 $100 $200 $300 $400 $500 $600 Q3' 2015 Q3' 2016 $1,146.4 $1,595.7 $0 $300 $600 $900 $1,200 $1,500 $1,800 9 Months' 2015 9 Months' 2016 23% Increase 39% Increase REVENUE ANALYSIS DEVICES SOLD (M) 2.3 5.3 3.9 4.5 4.8 … PESTEL stands for - Political, Economic, Social, Technological, Environmental & Legal factors that impact the macro environment of Fitbit, Inc.. Volkswagen SWOT Analysis. Fitbit’s electrocardiogram (ECG) algorithm was able to detect 98.7% of atrial fibrillation cases in a multi-site clinical trial. (Wired). Google has been fined $230 million during 2019 due to data breach activities. 2. It is the topofmind name in this fitness tracker market and there is good evidence that it will remain the sales leader (McNew, 2015). 5. Due to Fitbit’s constant health monitoring of its userbase, its access to data is second to none. Wearables and sports sensors are becoming more important in professional sports for monitoring and tracking. Worldwide investment in wearables increased from $218 million in 2015 to $6.3 billion in 2020. The brand names and other brand information used in the BrandGuide section are properties of their respective companies. Fitbit Harvard Case Solution & Analysis. 2. 21 Jun, 2020 Need Help? 22 Jun, 2020 Volkswagen SWOT Analysis. It has managed to maintain a healthy market share, dictate the direction of an industry, and cement its name as a synonym for its industry. Fitbit’s sales peaked in 2017 with 25.4 million sales, then dropping to 16 million sales in 2019. Fitbit has attracted over 500,000 subscribers to Fitbit Premium. It is designed through great technology. (CBC Radio-Canada). 1. This has translated to a large uptake and adoption of Fitbit’s ecosystem, allowing for further market engagement and revenue potential. A report has shown that Fitbit devices can miscalculate heart rate by up to 20 beats per minute in the average workout. 6. (GSMArena). While the obvious use of a Fitbit device would be for fitness tracking, there are many apps developed by Fitbit and third parties that make use of the Fitbit sensor capabilities. Swatch is one of the leading brands in the lifestyle and retail sector. It has watches, trackers and accessories to offer 4. MBA Skool is a Knowledge Resource for Management Students & Professionals. From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors, Fitbit SWOT Analysis for 2021: 25 Biggest Strengths and Weaknesses, 29 Wearable Technology Industry Statistics, Trends &…, 16 Singapore Semiconductor Industry Statistics,…, Uber SWOT Analysis for 2021: 23 Major Strengths and…, Spotify SWOT Analysis for 2021: 26 Strengths and Weaknesses, "From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors. Fitbit Inc SWOT analysis lists down the strengths, weaknesses, opportunities and threats to any organisation, but does not tell management what can be done by these. There is a large range of Fitbit devices offered on the market. The company is leading the industry of sporting accessories and clothing. 3. SWOT Analysis stands for – Strengths, Weaknesses, Opportunities, and Threats that Fitbit 30.40 encounters both internally and in macro environment that it operates in. The fitness tracker/wearables market has seen a large influx of cheaper competition. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. There are Fitbit-orientated apps for activities beyond fitness. Fitbit is the second-largest health and fitness app on the Google Play Store worldwide with a revenue of $1.439 million. As the metrics such as heart rate, speed, and recovery times are developed and recorded against each activity that you have and uploaded to a common platform, it’s easy to compare … With stiff competition and an ever-changing environment that comes with many technology-based industries, maintaining market share has been no easy task. Fitbit maintains the health data of its vast userbase on servers within the company, which means that Google has access to this information. Combining Fitbit’s machine learning algorithms, exceptionally large dataset, and target sensors, Fitbit is able to offer medical screening devices that can focus on a range of ailments. Privacy issues with the Google merger sow doubt with users and anti-trust regulators. An example of this could be accelerometers to identify once a surfer has caught a wave and to measure what exactly that surfer does on each wave. An Over-reliance on steps. Browse marketing analysis of more brands and companies similar to Fitbit. (Medium). Fitbit may look at developing a fitness-orientated smartphone, but that would offer large challenges and seems unlikely. Since its inception, Fitbit has maintained roughly 3% market share. Lastly, the global market of Fitness and wellnessis getting saturated due to toomany playersentering in to the markets, easy market entry, low barriers to setup and also the presumably low cost of acquiring particular technology. More and more sensors and variables are becoming viable with wearable technology, especially when coupled with nearly constant internet access. The Fitbit name has become It has huge collections of devices and use to measure deep sleep. The logic suggests that this is a win-win scenario where individuals benefit from incentives offered, and the insurance companies benefit from individuals who live longer, therefore paying more premiums over their lifetime, with fewer claims due to preventable illness. Fitbit produces different types of products targeted at different segments 3. SWOT Analysis of Fitbit Strengths Strong brand power Big umbrella of loyal customers Profit making company Weaknesses Premium pricing strategy of the company, limits the customer base High competit view the full answer. There has been speculation that Google has the potential to strip out the valuable aspects of Fitbit and put those into Google’s own wearable products. This is one of... SWOT does not show how to achieve a competitive advantage, so it must not be an … With stiff competition and an ever-changing environment that comes with many technology-based industries, maintaining market share has been no easy task. ";s:7:"keyword";s:20:"fitbit swot analysis";s:5:"links";s:954:"Tokay Gecko Tank,
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