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BENCHMARK WELLNESS CHALLENGE- FITBIT
16
BEATRIZ MARQUES 221039 ** MARIANA INFANTE 221203
TIAGO GOMES 221586 ** DIELLZA ASLLANI 222567
RAONI COELHO 221226 ** AMANBEK UULU 222157
BENCHMARK- FITBIT INC.
Index
INDEX
OVERVIEW OF COMPANY
1
Background, Timeline & SWOT Analysis.
2
PRODUCTS & SERVICES
3
HIGHLIGHTS & BEST-PRACTICES
COMPETITOR COMPARISON
4
iFit, Athos, Misfit Wearables,
Fossil Group & Vessel Health.
BIBLIOGRAPHY
5
Sources, websites, links, etc.
Overview of company
Source: Business Wire (Google Images)
Overview of company
Background
FOUNDERS
COMPANY NAME
5
1
James Park and Eric Freidman
Fitbit Inc.
ANNUAL REVENUE (2019)
INDUSTRY
2
6
$ 1.42 billion
Technology & Communications
OPERATING COUNTRIES
FOUNDED
3
7
2007, March 26
USA, Ireland, Hong Kong, China, Korea, Belarus, India, Japan, and Singapore, etc.
HEADQUARTERS
4
San Fransisco, California, United States
Development timeline
TIMELINE OF FITBIT
2017:
Fitbit partnered with Adidas.
2007:
The foundation of the company
2015:
The company began trading with the 'F.I.T.' symbol.
2016:
The company’s stock fell by more than 50%.
2021:
The company was acquired by Google & it absorbed into its hardware division.
2018:
The revenue of the company reached US$1 billion.
2019:
Adidas branded Fitbit iconic was released. Blue Cross Blue Shield Association partnered with Fitbit.
SWOT
Analysis
SWOT ANALYSIS OF FITBIT
Source: www.edrawmax.com (Google Images)
Products & Services
Source: www.fitbit.com
Products
Fitness tracker
Smart watches
Accessories
Scales
Services
Fitbit Inc.'s Services
1
Daily Readiness Score
2
Premium Challenge
3
Stress Management Score
4
Health & Fitness Status
www.sprinter.com (Google Images)
Fitbit Inc.'s Services
5
Basic Insights
9
Mindfullness Sessions
6
Report
10
7
Skills Temperature
- Fitbit Premium Membership Monthly Subscription: €8.99
- Fitbit Premium Membership Anual Subscription: €79.99 (save 30%)
8
Workout Plans
Source: www.canadianreviewer.com (Google Images)
Highlights & Best practices
Highlights
Highlights
2008
1
TechCrunch50 runner-up award.
2009
2
'Innovation honoree' award & 'best in the health & wellness' category at C.E.S.
2016
3
ranked 37th out of the 50 most innovative companies of the year.
Best Practices
Best Practices
"Don't satisfy customers. Delight them!"
"Make the important tasks effortless"
"Tailor your product to basic human needs and behaviors."
With an amazing customer service, Fitbit has managed to over-deliver in a cost-effective way.
Fitbit has created their product based on two common human behaviors:
-competitivety: fitbits' leaderboard, that let's you check the progress of friends & family.
-sense of reward: badges, challenges & positive feedback.
The company designed their products in order to be of quick learning and easy use, which reduces time costs for the consumer, increasing its value.
Competitor Comparison
**Fitbit Inc. shows a greater amount of operating locations than the competitors:
Locations
- + touchpoints,
- + visibility/brand awareness,
- better customer service.
**Having more funding raised can open doors to new possibilities and overall growth of the company.
Funding
**Altough Fitbit has more followers on social media platforms such as Twitter, the company doesn't engage in an effective way with the customer, (lacking marketing communication skills) leaving both Fossil Group & Misfit Wearables with more possibility of creating loyal customers.
Customer engagement
Bibliography
Bibliography
Sources, websites, links, etc.
- https://www.edrawmax.com/article/fitbit-swot-analysis.html
- https://www.globaldata.com/company-profile/fitbit-inc/
- https://www.fitbit.com/global/eu/home
- https://www.emergingtechbrew.com/stories/2022/10/18/fitbit-expands-enterprise-ambitions-with-google-cloud-powered-software-platform?utm_campaign=etb&utm_medium=newsletter&utm_source=morning_brew&mid=4eacec3c9a66b39e23693fe9f04fd6e0
- https://www.inc.com/amy-buckner-chowdhry/user-experience-best-practices-how-fitbit-gets-it-right.html
- https://craft.co/fitbit/competitors?competitors=fitbit%2Cifit-health-and-fitness%2Cathos%2Cvessel-health%2Cmisfit-wearables