We named Fitbit a Most Innovative Company in the Fitness category for leading the pack for full-body personal activity trackers, with 67% of the market in 2013. The Hard Sell “At the time we were starting Fitbit, there were really very few hardware-based startups,” says Friedman.
What does fitfitbit do?
Fitbit is an American consumer electronics and fitness company. It produces wireless -enabled wearable technology, physical fitness monitors and activity trackers such as smartwatches, pedometers and monitors for heart rate, quality of sleep, and stairs climbed as well as related software.
Why do people like Fitbit so much?
When you get a FitBit you set up your health and fitness goals. Your goals are adjustable and you can change them at anytime. The FitBit cheers you on (and tells you when you’re getting close to certain goals for the day. The reason this works is a matter of psychology. People don’t like leaving things incomplete. We like progress bars.
How Fitbit is leveraging purpose to drive business growth?
A company doing an excellent job leveraging purpose to drive business growth is Fitbit. The health and fitness brand is actively leveraging its company and mission to have a bigger impact and pivot its business model in shifting markets. Fitbit’s core business was built around wearable fitness trackers.
Why fitfitbit is a trusted brand?
Fitbit built a trusted brand platform based on easy and fun fitness tracking, which gives them a natural segue into providing deeper, more meaningful health insights. Furthermore, their open API enables them to continue expanding their partnerships with software and hardware providers.
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What kind of innovation is Fitbit?
Fitbits are another example of incremental innovation. Created in 2007, the Fitbit device allows users to track their health by wearing a wristband that records personal data such as steps taken, heart rate, and overall sleep.
What are the benefits of using a Fitbit?
Depending on the specific model of Fitbit, a person may also use it for:tracking their sleeping patterns.monitoring and tracking their heart rate.keeping track of the level of oxygen in their blood.GPS tracking during exercise.storing and listening to music.receiving call and text notifications.More items...
What is Fitbit's strategy?
Strategic Focus: Fitbit's strategic focus is and should stay different from competitors such as Apple. The Fitbit firm aims to encourage users to become healthier and more active, whether this is through Fitbit devices, software or services. The social aspect of the product is the key drive for Fitbit's growth.
How was the idea of the Fitbit developed?
In 2007, our 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.
Why do people love Fitbit?
Fitbit tracks every part of your day—including activity, exercise, food, weight and sleep—to help you find your fit, stay motivated, and see how small steps make a big impact.
What competitive advantage does Fitbit possess?
The competitive advantages Fitbit possess against other wearable device companies like Apple and Samsung is its leading market position and global brand recognition. Fitbit maintains its key strength and is synonymous with the connected fitness market.
Who is Fitbit's biggest competitor?
Here is the full list and in-depth analysis of Fitbit's top competitors and alternatives:Xiaomi Mi band. Year founded: 2010. ... Garmin. Year founded: 1989. ... Samsung Gear Fit. Year founded: 2014. ... Apple Watch. Year founded: 1976. ... Huawei Band. Year founded: 1987. ... Whoop Strap. Year founded: 2012. ... Amazfit. Year founded: 2015. ... Moov.More items...
What is Fitbit's target market?
As defined in the previous assignments, Fitbit's target customers are working professionals aged 25-40, with a medium income and a good level of education. People from this consumer group are often too busy to engage in regular exercise.
How does Fitbit use gamification?
The same is true of gamification. Fitbit introduces elements of fun through competition, through interesting challenges, such as virtually walking around a city, and through the clever use of copy (like the email above).
When did Fitbit become popular?
June 2015Fitbit went public in June 2015, surging from a $4 billion company to $9.7 billion by 2015. This was the height of wearable hype, as Apple launched the first Watch and Pebble launched a second Kickstarter, reaching $20 million.
How does Fitbit market their products?
In addition to carving a niche within the medical industry, Fitbit's marketing strategy relies on community-building. Its online presence reflects this: Their website content provides users with ideas and inspiration for improving wellness, along with virtual and local fitness activities to encourage participation.
Is Fitbit or Apple Watch better?
Get the Apple Watch 7 if you already own an iPhone and want to blend productivity and general fitness. The Fitbit Sense is for those who want deep health and fitness data and aren't inexorably tied into the Apple ecosystem.
Is wearing a Fitbit worth it?
In short: If you don't care exactly how many steps you've taken today or want to measure your heart rate over time, a Fitbit probably isn't worth it for you.
Is having a Fitbit worth it?
I highly recommend it to others who like data as much as I do as well. The metrics have been super helpful for me to gauge my activity levels and what I'm doing well and what I can improve upon. At the end of the day, however, a Fitbit is a luxury and it is more than possible to track your fitness levels without one.
What are the advantages and disadvantages of a Fitbit?
Pro: You've got options. ... Pro: User-friendly even for tech newbies. ... Pro: It really boosts your motivation. ... Con: can be a little uncomfortable. ... Pro: Most Fitbits are water-resistant. ... Pro: The charge lasts for days at a time. ... Con: they're slightly more expensive.
Does wearing a Fitbit help lose weight?
An activity tracker can be a great tool to help you lose weight. And your Fitbit weight loss plan can work. But you need to wear your Fitbit regularly, collect the most accurate data, and then use the information to make healthy long-term changes to your daily diet and exercise plan.
Why does Fitbit work?
The reason this works is a matter of psychology. People don’t like leaving things incomplete. We like progress bars. We like checking things off lists. The FitBit uses brightly coloured graphs and progress bars, and as you get closer to achieving a goal, the progress bar changes colour until it is eventually bright green.
Why is Fitbit important?
1. The FitBit Holds You Accountable. When you get a FitBit you set up your health and fitness goals. Your goals are adjustable and you can change them at anytime. The FitBit cheers you on (and tells you when you’re getting close to certain goals for the day. The reason this works is a matter of psychology.
What is Fitbit tracker?
But let me rewind a bit for the uninitiated. A FitBit is a health and fitness tracker that you wear while you go about your daily activities. The FitBit syncs to your smart phone via bluetooth, and computer via USB dongle. I wear it all day long, except when I’m in the shower.
Why do I like progress bars?
I like the psychological motivation that comes from completing my goals. I feel good about myself, and the progress bars reinforces my need to see things through.
Does Fitbit make you healthier?
The FitBit Will Make You Healthier. The FitBit isn’t a magic cure for all your ailments. The FitBit won’t make you kick your carb addiction, and it won’t make you shrink a dress size, but it does arm you with the information you need to make healthier decisions.
Does Fitbit help you sleep?
The FitBit Will Help You Sleep Better . This is a newer addition to the FitBit App: robust sleep stage tracking. While FitBits have tracked sleep for a long time, the device now can track different sleep stages. The app compiles the data into a Sleep Score that will enlighten you as to the quality of your sleep.
Does Fitbit make you drink more water?
The FitBit Makes You Drink More Water. I’m bad about drinking water. It’s always been a struggle of mine, even though I know I need to drink more water. I just don’t like doing it, and I hate having to pee all the time. But because the FitBit has a water log, it is more difficult to avoid drinking water.
Quo Vadis, Fitbit?
Fitbit’s position as an innovative and leading player in the fitness tracker business has become somewhat precarious over the course of the last year:
Expanding the Fitbit Ecosystem
Our team of three (Sam Sudberg, Mothusi Thusi and myself) decided to find a future for Fitbit’s trackers. How could we expand the functionality of their trackers and their Fitbit app?
Ideas resulting from Insights
Our research showed that users need help preparing healthy, highly personalized meals tailored to their individual weight goals and their individual health problems.
Platform
Why? In 2016 Quarter 3, Android dominated the market with a 86.8% share worldwide.
Potential Partner Companies
A world-wide meal planning and meal ingredient delivery business based in Berlin, Germany.
Personas
Based on our user interviews and user research, we created two main personas: Josh and Aurora.
Competitive Analysis
Below is a feature comparison between Fitbit’s app and its main competitors Garmin Connect, fossil Q, Apple Health and Samsung Health.
What is the first wireless fitness tracker?
That was the Ultra. The following year, the Fitbit One and the Fitbit Zip were the first wireless fitness trackers to use Bluetooth 4.0 / Bluetooth Smart, with the former tracking steps, distance, floors climbed, calories burned and sleep patterns while the more minimalist Zip tracked steps, distance and calories.
Why is Fitbit so successful?
One of the reasons for Fitbit's ongoing success is its investment in new models. The first tracker was pretty good, but in 2011 Fitbit improved it by adding an altimeter, a digital clock and a stopwatch. That was the Ultra.
What is Fitbit Blaze?
Fitbit Blaze (2016) was a first stab at a smartwatch. The Surge (right) was its 2016 running watch
Why was Fitbit Flex recalled?
The following year, Fitbit moved to the wrist with the Fitbit Flex and Fitbit Force, but it wasn't entirely successful: some Force customers reported that the band was irritating their skin, an issue that was most likely due to allergic reactions to nickel, and the product was recalled in early 2014.
When was Fitbit invented?
Fitbit was founded in early 2007 by James Park and Eric Friedman, who saw the potential for using sensors in small, wearable devices. They raised $400,000 but soon realised that that wasn't enough, so they did the rounds of potential investors with little more than a circuit board in a wooden box.
When did Fitbit start?
Fitbit launched its tracker at the end of 2009, shipping around 5,000 units with a further 20,000 orders on the books.
Did Schumer demand that Fitbit be regulated?
Schumer demanded that the US Federal Trade Commission regulate fitness trackers, although in its response Fitbit pointed out that the firm didn't sell data to third parties and said it would "welcome the opportunity to work with Senator Schumer on this important issue .".
What is Fitbit's brand?
The FitBit Brand: The Fitbit name has become synonymous with the fitness tracking market, making it a valuable resource that helps the company neutralize the threat of new entrants. Due to its first mover advantage, the company is a leading brand for fitness tracking wearables. The Fitbit brand instills pride in its users ...
Why did Fitbit stock drop?
However, since Fitbit’s last reported results in 2015, its stock price has fallen significantly from a high of $51.64 in August 2015 to a low of $5.96 in February 2017. Analysts attribute this decline to concerns about smartwatch competition (Saintvilus, 2017). A recent stock decline is also attributable to news that Q3 2016 earnings fell behind forecast, causing Fitbit to adjust expectations for the remainder of the year. (Vielma, 2016). This suggests that Fitbit is reaching a limit on potential growth from its current strategy.
Why is the fitness tracker industry so saturated?
The global fitness tracker industry is becoming saturated with new entrants due to relatively low barriers to entry, an attractive market, and non-proprietary technology.
What is an open API?
Platform Openness/Open API: Fitbit’s commitment to an open API (Applications Program Interface ) has more breadth than most of its competitors. Open API provides third party developers’ programmatic access to create health and fitness apps to interact with the Fitbit platform.
When was Fitbit founded?
Fitbit is a relatively new company (founded in 2007) that has already established a strong brand name and has positioned itself as a frontrunner in the fitness tracking industry. Although basic pedometers have been around for many years, Fitbit saw an opportunity to revolutionize this idea by creating a product that is social, interactive, ...
What are the resources of Fitbit?
An analysis of its top three key resources are as follows: Hardware & Software Technology: Fitbit designs both hardware and software technologies for their products.
What is the strategy of Fitbit?
Their current strategy is to pursue a premium, differentiating positing in the U.S. market, by offering quality products that increase their customers’ willingness to pay. However, competitors are working hard to gain market share.
What is Fitbit Care?
Currently only available for institutions and their employees or networks, Fitbit Care is a membership service that addresses individual wellness with virtual coaching, online medical care, smart wearable devices and self-monitoring.
What charities does Fitbit support?
Instead of buying ad impressions, Fitbit held a competition in support of three national charities: The American Diabetes Association, The American Heart Association and National Multiple Sclerosis Society. To participate, consumers logged in or signed up for a Fitbit account, then selected a charity they wanted to support. Instead of donating money, consumers got the opportunity to walk or run for the charity of their choice. Fitbit tallied up all the steps taken between November 9th, 2018 and November 20th, 2018, then ranked the charities based on the number of steps taken in their name; first place received $500,000, second place got $350,000 and third place was awarded $150,000.
Why is purpose important?
From a business standpoint, purpose is essential to gaining market share, strengthening brand reputation, and connecting with consumers in authentic ways. In fact, a recent Edelman study found that roughly two thirds of global consumers make purchase decisions based on whether they feel a brand is aligned with their beliefs.
What is a purposeful B2B partnership?
Purposeful B2B partnerships: Purpose-driven business to business products and services are an excellent way to secure large orders, reduce direct to consumer marketing costs, and scale the impact and reach of your initiatives.
Is Fitbit a B2B company?
Essentially, by offering solutions to issues that large organizations are facing, Fitbit is finding a niche that’s allowing it to expand its B2B business and progress its mission to help individuals live fit and healthy lives. In the future, there could be opportunities for Fitbit to offer similar programs to individuals as well.
Does Fitbit have a relationship with Google?
Fitbit plans on leveraging its relationship with Twine Health and Google Cloud to provide consumers with more information and professional care without having to physically go anywhere.
Does Fitbit have a Blue Cross Blue Shield?
Fitbit recently partnered with the Blue Cross Blue Shield (BCBS) Association to give its Blue365 program members access to its wearable fitness trackers. Via the partnership, over 60 million BCBS cardholders will have access to an exclusive offer on Fitbit’s smartwatches and other devices.
