Competitors

Who?

Some of Fitbit's competitors are such as the Apple watch, Garmin Vivosmart, Nike Fuel Band, and  the Microsoft Band respectively.

Competitor Analysis (Apple)

Apple is the biggest competitor Fitbit is facing as Apple has an extremely recognised and well known brand worldwide. Moreover, Apple has a positive reputation. Hence, I will be focusing the competitor analysis mainly on Apple. Similar to Fitbit, Apple also has an application which has the ability to connect to the apple watch. 

Apple Health Application is available to assist its users to improve health condition in four categories namely Activity, Sleep, Mindfulness, nutrition and steps. The completion in each category will be used for the overall result obtained for track record. Moreover, with the professionals brought in place in the application, Apple customers are able to tap on this opportunity whereby their health information could be shared for consultation.

Strength (Apple Health Application):

There is a video in each category to show the importance of these factors in contributing to a healthy lifestyle. Users become more knowledgeable to the factors they have to attend to in order to care for their health. Hence, this will allow the users to understand deeper into a healthy lifestyle, and how the application can effectively aid in their progress to living healthier. This will in turn lead to the users to use and wear the Apple watches more often as there is a form of motivation created by the application. This hence also builds brand loyalty.

Weakness (Apple Health Application):

Although Apple Health Application has provided with the solutions to the common source of illnesses, the application does not allow the generation of food which are classified to be of a certain calorie. Users will not be able to track their calorie intake, which is a huge factor in healthy living as well as weigh loss, which is why a lot of the users are using the application. They will have to use separate applications to do so, which is inconvenient to do so to keep switching between applications.  

Opportunities to capitalize 

Firstly, the Apple watch's functions are not solely based for health and fitness, but also for many other purposes such as for receiving phone call, messages, emails and many other notifications that are connected to the iPhone or/and an Apple laptop. However on the flip side, Fitbit is specialized in health and fitness, and helping the users to lead a healthier lifestyle and achieving their fitness goals. 

Hence, with the specialization, Fitbit has a huge advantage as they have deeper knowledge and research on health and fitness, and the functions of the trackers and the application is more specific. This will enable the users to get better and more complete knowledge and understanding about it. 

SWOT Analysis

Strengths

Fitbit offers a variety of different products, not just trackers.
They have Fitbit flex 2 which comes in silver, 22k-plated gold and rose gold.
There are also multiple models for each product.

Easy and suitable to use for all ages.
Sleek designs
They also have Fitbit Labs which is a new initiative that develops cutting-edge products.

Weaknesses

Lack of brand awareness as Fitbit is a fairly new brand. (found in 2007)

Gaining trust of new customers may be challenging.
Fitbit is in a niche industry and has a very specific target market, which may be a disadvantage as competitors like Apple have so many more functions.

Opportunities

Many events that Fitbit can sponsor/partner with.

Fitbit products have more options for customization.

Chances for partnerships with new companies.

Becoming a leader in health and wellness technologies.

Threats

Many competitors offering similar products.

Some competitors have a well recognized brand name, unlike Fitbit.

Technology and trends are always changing, Fitbit has to constantly develop and upgrade it's products to meet consumer needs and wants.