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FitBit

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FitBit

  1. 1. Mike Rueffer Principles of Marketing November 30, 2015
  2. 2. Company Overview
  3. 3. Fitbit Overview  Founded in 2007  Headquartered in San Francisco, CA  8 other office locations  Boston, Dublin, Hong Kong, Shanghai, Seoul, Minsk, New Delhi, Tokyo  Fitbit retailers are located in 9 countries  Offering a range of products
  4. 4. Fitbit Overview Cont.  Around 1000 employees  Revenue growth of 258% in 2Q of 2015  Consumer Electronics  NYSE: FIT  Current Stock Price- $27.84
  5. 5. 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.
  6. 6. Vision Statement We’re a passionate team dedicated to health and fitness who are building products that help transform people’s lives. While health can be serious business, we fell it doesn’t have to be. We believe you’re more likely to reach your goals if you’re encouraged to have fun, smile, and feel empowered along the way.
  7. 7. Company Environment  “Keep employees happy, healthy and engaged by creating an effective wellness program with Fitbit.”  Active environment  Forbes: #1 hot company to work for in San Francisco
  8. 8. Employee Benefits
  9. 9. Situation Analysis
  10. 10. External Marketing Environment  Political- Privacy Laws  Selling your personal data.  1. We will only collect data that is useful to improving Fitbit products, services and your experience.  2.We will be transparent about our data practices and will explain them in clear language.  3.We will never sell your data, and will only share personally identifiable data when you direct us to (or under the circumstances outlined in our Privacy Policy).  4.We will always take the security of your data seriously
  11. 11. External Marketing Environment  Economic- Floating with the market  Extra Commodities
  12. 12. External Marketing Environment  Social/Cultural- Demands of the consumer  The product is universal for everyone  Specific products tailored to certain groups
  13. 13. External Marketing Environment  Technological- Technology Industry  Staying ahead of the competition  App to track progress
  14. 14. Industry Analysis  Projected 35% growth in wearable technology market next 5 years  Many major companies in the Industry
  15. 15. Competitive Environment  Competitors  Nike- FuelBand, Nike+ SportWatch GPS  Apple- Apple Watch  Jawbone- UP24  Garmin- Vivofit
  16. 16. Positioning Map
  17. 17. Global Analysis  8 other office locations  Boston, Dublin, Hong Kong, Shanghai, Seoul, Minsk, New Delhi, Tokyo  Fitbit carried in over 50 countries  “Fitbit intends to sell its products and services in new and existing international markets by expanding its distribution channels with retailers and by forming strategic partnerships”
  18. 18. SWOT Analysis Strengths • High Market Share • Global Expansion • Necessary components • Product Line • Growth in the market Weaknesses • Lack of brand Recognition • Higher price for limited upgrades • Limited Retailers Opportunities • Expansion Globally • High end products • Advertising Threats • Competitive Market • Consumer Interest • Aggressive pricing strategies • Technological Advancement
  19. 19. Marketing Strategy
  20. 20. Introduction  Fitbit retails their product to virtually anyone in the world.  Their name sells their product- “fit”  Target Market 1-  Physically active people  Target Market 2-  People who want to adopt a healthier lifestyle  Target Market 3-  Corporations and Enterprises  Target market 4-  Athletes
  21. 21. Product  Fitbit Trackers  Zip  One  Flex  Charge  Charge HR  Surge  Aria Competitive Advantage: Yes
  22. 22. Place  Distribution Channel  Logistics  Create great partnerships  Create facilities to lower costs Manufacturer Fitbit Retailers Consumer Competitive Advantage: Yes Manufacturer Fitbit Consumer
  23. 23. Place
  24. 24. Promotion  Advertising  $70 Million is 2Q of 2015  $13 Million in 2Q of 2014  Promote their brand not necessarily individual products  Promotes corporate usage Competitive Advantage: No
  25. 25. Promotional Mix  Television  https://www.youtube.com/watch?v=PY_zEa7hhy4
  26. 26. Promotional Mix  Magazine
  27. 27. Promotional Mix  Partnerships with famous people  Comedian Joel McHale
  28. 28. Price  At the Market Pricing Strategy  Lowest price at the market  Deals with corporations  No discounts unless big shopping day  The more the product does the higher the price Competitive Advantage: Yes
  29. 29. Concluding Remarks  Fitbit is in one of the fastest growing markets  Global expansion is huge  Expand their product line to premium products  Continues to use the at the market pricing strategy  Great Company to work at

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