Fitbit American Company

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Company: A Fitbit American Company founded by James Park and Eric Friedman in early 2007. They established the first product "Fitbit Tracker" in 2009. The idea of the product is to measure different activity aspect of such as time, distance and calories burned. It also can follow your sleep quality. They have achieved great successes, their profit exceeded $116 million. All of that because of they deliver the right product at the right time at appropriate price. "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."
Competitors:
Technologies become part of our life. Nowadays companies …show more content…
Fitbit use technology to help people live a healthier. The trackers can be synced to smart devices via Bluetooth or uploaded to a computer running. (Fitbit, n.d.). Fitbit has stayed ahead in giving consumers what they want. It established Blaze smartwatch with more features such as it includes GPS, heart-rate monitor and receive smartphone notifications. Moreover, Fitbit offered more high-tech option. Fitbit faces competition from companies such as Apple, Garmin and Jawbone. After Fitbit introduced its smartwatch, Apple launched a new Watch and that was a challenge for Fitbit because Apple watch features appeared to reduce those of Fitbit’s product. But, Fitbit work hard to differentia its product and make its devices more valuable, so it is working to launch continuous glucose monitor. This product has not been launched yet.
Economic environment:
Economic environment consists of factors that affect the buying behavior of consumers and institutions. It’s cheaper to produce Fitbit product in china than the United States (bmgt495 , n.d.). The high growth rates and plenty of market potential help Fitbit to grow. Fitbit revenue increase from 5.18 million U.S. dollars in 2010 to 1615.52 million U.S. dollars in 2017 (Fitbit Inc. revenue , n.d.). America’s corporate motivate its employees to take better care of themselves because healthy employees are more productive and provide major …show more content…
First of all, the antenna device didn’t work correctly. Secondly, they focus more on software development regardless of hardware development which makes less to attract the costumer. Also, it doesn’t benefit swimmers because it’s not waterproof. Fitbit has limited features like limited display on the tracker itself.
Opportunities:
The company has many opportunities that’s if they tack advantage of it they will make more revenue. For example, the company received a lot of calls to order the Fitbit. Moreover, the device was used in wellness program. In addition, Fitbit started partnership with health center to diagnose diseases.
Threats:
Competition is a key threat for Fitbit. Apple Watch represent the biggest competitor for them because it has unlimited app in their watches. Other threats is the disabilities people, they can not use this device. As the technology creates new ways to gather and share information, the privacy issues was created and become as a threat for Fitbit. In wellness program, some participants cheated while they used Fitbit, they put the Fitbit in dogs, so steps are almost twice the steps of person.
Strategic
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