Loading presentation...

Present Remotely

Send the link below via email or IM

Copy

Present to your audience

Start remote presentation

  • Invited audience members will follow you as you navigate and present
  • People invited to a presentation do not need a Prezi account
  • This link expires 10 minutes after you close the presentation
  • A maximum of 30 users can follow your presentation
  • Learn more about this feature in our knowledge base article

Do you really want to delete this prezi?

Neither you, nor the coeditors you shared it with will be able to recover it again.

DeleteCancel

Make your likes visible on Facebook?

Connect your Facebook account to Prezi and let your likes appear on your timeline.
You can change this under Settings & Account at any time.

No, thanks

Fitbit Marketing Plan

Consumer Behavior Final Project
by

Jen Guerrero

on 18 May 2015

Comments (0)

Please log in to add your comment.

Report abuse

Transcript of Fitbit Marketing Plan

Marketing Plan
Market Analysis
Fitness Wearables Market
Sales expected to shrink by $2 million this year
Smart wristband shipments expected to decline 15% this year
Market is moving toward smart watches
No app required
Band/screen function independently
Competitor Assessment
Marketing Strategy
Executive Summary
Fitbit sells fitness trackers that consumers wear on their wrist
Health & fitness is a growing trend
Social Media sharing is popular among the target market
Small adjustments to the product and a different promotion strategy could help Fitbit continue to grow and remain a market leader
The 4 Ps
Forecast & Budget
Jen Guerrero
Current Target Market
Primarily females 35-45 years old
Individuals with above average income
Tech-savvy individuals
Inactive people who need motivation
People wanting to get in shape
Athletic individuals who want to track data
http://www.werockyourweb.com/best-activity-tracker/
New Main Objectives
Increase awareness of the product and brand
Remain a market leader
Target new segment
Younger women 18-34
Include men 18-45
Add more features
Camera
Link to Instagram, Facebook, Twitter
Include more personalizing options
More color options for bands
Strengths
Weaknesses
Opportunities
Threats
Convenient band
Long battery life
Features consumers want to see
User-friendly interface
Minimal marketing and advertising
Limited personalizing options
Increasing interest in healthy lifestyle
Sharing events and accomplishments on social media
More interested in devices with multiple uses
Product & Price
Place
Promotion
No sales/discounts
No radio, TV, or print advertisements
Social Media advertising only
Relies on user word-of-mouth referral
Critical Success Factors
More people dedicated to living healthier lifestyle
Sharing accomplishments with friends via social media
Interactive motivation
Personalized messages
Upcoming Competitor
Apple Smart Watch
Distribution & Promotion
Pull strategy
Continue current positioning at retailers
Partner with gyms & fitness/nutritional stores
Provide employees with Fitbits
Train employees on benefits the product brings for fitness
Threat of new competitors: HIGH
Seasonality
Contingency Plan
Average marketing budget based on revenue: 12%

Revenue increased by at least 2.5x per year

Projected 2015 revenue: $1.8 million

Anticipated marketing & advertising budget: $216,000
Potential Problems
Increased expenses
Employees not recommending as well as expected
If it's not successful, might not justify increase in expenses
Action Plan
Be more selective with businesses to partner with
Incentives for employees to promote product
Full transcript