Wearable technology is one of the latest technology trends. Fitbit has revolutionized the way people view health and fitness. In 2007, Fitbit founders “Eric and James, realized that sensors and wireless technology had advanced to a point where they could bring amazing experiences to fitness and health. They embarked on a journey to create a wearable product that would change the way we move,” (Who We Are, 2015). Although Fitbit was started in 2007, the founders planned to launch by Christmas 2008 and ran into problems and couldn’t officially launch until 2009. They ran into difficulties starting a hardware product from scratch and the building process. Founders partnered with New Deal Design to help develop the original Fitbit (Fitbit Wellness …show more content…
“In September 2008, they got a great reception from a presentation at the TechCrunch 50 conference, getting about 2,000 pre-orders by the end of the day, ” (Hof, 2014). Fitbit received great support early on even though the product launch was delayed a full year after TechCrunch 2008. In 2009, “ Fitbit was named an honoree and also named the best in the Health and Wellness category. Fitbit was displayed at the 2009 Consumer Electronics Show, which is run by the Consumer Electronics Associations and is the world’s largest consumer electronics tradeshow,” (Fitbit named 2009 CES best, 2008). Once Fitbit was available, 25,000 orders were made partly because it was “the right product at the right time at the right price point” (Hof, …show more content…
Fitbit utilizes Facebook, Twitter, Instagram, Pinterest, YouTube, and Google+. Fitbit focuses their social media energy on promoting a healthy lifestyle, motivating people to get active, and interacting with current Fitbit users. They also profile normal Fitbit users with success stories and follow famous athletes who utilize Fitbit as part of their fitness routine. Fitbit’s optimistic tone of voice encourages Fitbit users and non-users to get active with subtle hints about the product such as product placement within their pictures and stories of real-life Fitbit
Market Analysis Summary The global sports and fitness clothing market is expected to soon reach over $125 billion dollars (PR Newswire, 2015, June 26) and individuals across the U.S. are becoming more active (Institute for Health Metric and Evaluation, 2013, Jul 10). The breadth of the overall market covers many subsets of products and consumer groups. Target segment. There are two primary segments in the market; sports apparel and fitness clothing.
The unique feature about the company is that it collects data such as skin conductivity and heart rate variability while tracking
Lululemon Athletica Inc., also referred to as Lululemon, is an athletic apparel retailer from Canada. You can find them on Nasdaq with the ticker code LULU, as they are a publicly traded company. Lululemon was founded by Chip Wilson in Vancouver, in 1998. It didn’t take long time for Lululemon to become a wide-spread sensation throughout the United States. As of October 2015, Lululemon had over 354 stores worldwide. With growing popularity of the brand, it is not a surprise how successful the company itself has become. According to many, their products still maintain to be unique within the massive athletic-wear industry. Today, Lululemon produces outfits and gear for many different types of sports
All humans want to live long and happy lives, and one of the main things we must maintain to achieve these goals is our health. To stay healthy, we have to get plenty of sleep, exercise, and the correct nutrition. To help us reach these goals fitness smartwatches, such as the Fitbit and Apple Watch, have been invited to assist us in tracking our activity. While the Fitbit and Apple Watch are both smartwatches, they do have some differences.
With much success expanding into a global market, Lululemon’s vision was to evaluate the world from mediocrity to greatness. To achieve this vision, a strategy was developed with a network of leaders and established three different kinds of calculated sales programs in the hope of increasing love for yoga and improving the level of health within their communities. These are opportunities missed by the company, with the potential to provide the company with financial growth and further brand recognition. Increasing the products they offer to all genders and ages is only going to create more product awareness and consumer loyalty.
Companies like Under Armour and Nike are investing a lot of money in big data wearables. This line of products allows consumers to track their physical performance throughout their day or throughout their workouts. Under Armour provides their consumers with bigger company’s like
Fitbit was founded in 2007 by James Park and Eric Friedman with the purpose of using wireless technology to improve a person’s fitness and health according to the About Us page in Fitbit.com. Fitbit would fall within the digital technology industry that focuses on improving health and wellness of individuals. I would also classify Fitbit as an Internet of Things (IoT) device because it is Internet-enabled and shares and captures data without human involvement. Fitbit’s competitive advantages include being the first to market with a wearable technology that is widely accepted by general consumers. Fitbit was able to increase their market share significantly due to their first-mover advantage. Another competitive advantage for Fitbit includes
Fitbit has its headquarter in California, which is the most renowned state in the U.S. for innovation. California’s fame for the development of innovative technology supports Fitbit in maintaining its current market share and in attracting additional potential customers. Fitbit currently does not have any physical store of its own and is therefore dependent on retailers and its online shop to sell all of its products.
Nike has found a way to make smart phones work with a bracelet to track all of your physical activity each and every day. Now that is sweet, not is Nike making great sporting and everyday clothes, but they now have found a way to make your phone ...
Apple launched the Watch in Los Angeles, London, Tokyo, Milan, and Berlin, with pre-orders reaching 7 million before the launch date (Harding, 2015). Since Apple designed the Watch to reach multiple market segments, the market reach as seen in the pre-order numbers before the product launch is extensive. The introduction of the EDITION model has allowed Apple to extend into the luxury watch market, likely increasing its performance and widening the gap between itself and other companies in the smart watch market.
With existing products such as the ‘Fitbit’ watch already in the market, Fitbit could pose a threat to ‘FAHSSK’ if they were to create a similar product, and other competitors could potentially enter the market if the product receives a higher demand. However, with ‘Fitbit’ proving there is a market for health devices and no specific health device targeted towards the aged care industry, there is an opportunity for profit. While ‘FAHSSK LLP’ suffers from the weakness of all new companies, which is being obscure, the strength of the ‘WatchCare’ lies in that there is an untapped market for this product. Not all elderly people suffering from heart conditions can afford or desire 24/7 care in aged care facilities, creating a demand for alternative methods for monitoring their health without frequent visits to their GP. However, for those suffering from dementia, while the GPS function of the ‘WatchCare’ would be beneficial, established products designed specifically for those suffering from dementia and aged care facilities threaten ‘WatchCare’s’ success in that
Related Articles Another Swiss Watch Company Jumps On The Activity Tracker Train Swiss Watch Makers Announce An Activity Tracking System Designed To Hide Inside Fancy Watches Smartwatches Decimated Traditional Watch Sales Last Month Ultimately the Swiss watch industry is in a downturn because it has long been full of benighted rich people with no vision for the future. The great manufacturers have sat on their hands for the past decade, raising prices and aiming their unattainable marketing message in the fashion world.
Like most things surrounding us today, Under Armour started with an idea. Kevin Plank was a 23-year-old college student when he decided to do. In 1996 he had an idea that stemmed from his life experiences: playing football. Back when he played football, he was tired of always having to change out of his sweaty gear, which was made of cotton.
There are more and more fitness elements in the digital media. For example, new workout clothing brand Taiger, nutrition company AP-Nutrition, new gym GoJi Studio and even movie "Unbeatable" ...... . Since then, it attracts more people get involved
Joan and Julie also talked about timing. Timing is one factor that affect a product. When market is ready, no matter how good is your product, it will not gain a big market share. For example, if someone launched iWatch twenty years ago, I do not think people want to buy it. The product is too advanced for them. People do not need it back in that time. Compare to now, we need that kind of product and people are familiar to use electronic advices. People have desire for those product, so iWatch has a much larger market now.