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Fitbit Marketing Plan

Consumer Behavior Final Project

Jen Guerrero

on 18 May 2015

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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
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
Link to Instagram, Facebook, Twitter
Include more personalizing options
More color options for bands
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
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
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