Fitbit Business Environment Analysis

The FitBit is a piece of wearable technology with a mission to inspire healthier, active lives with the help of an easy-to-use product to achieve one’s fitness goals. As this product is manufactured and sold to consumers, its marketing strategies are strongly influenced by outside forces, or its external environment. These external forces affect the marketing environment which may include its political-legal, sociocultural, technological, economic, and/or competitive environment. The FitBit’s marketing is affected by all of these environments except political-legal. The sociocultural environment consists of changing social values. Recently, many people are becoming conscious of their activity levels and are working to become more fit. The
The FitBit is a form of technology that uses sensors and is also connected to an app on your phone. This advanced technology is what many of the marketing schemes are centered around; people are intrigued by its functions and abilities. The FitBit is able to count steps, has settings for different forms of activities, a GPS system, and receives notifications from your phone. Marketing strategies center around these functions to attract customers living in this age of new technologies. For economic environment, the Fitbit company is aware of consumers’ spending patterns, which affect the product’s pricing and promotional strategies. They have created numerous variations of the FitBit with varying prices, including the FitBit Zip, which can be purchased for the lowest price, and the most advanced version is the FitBit Surge. Some ads promote the least expensive variation of the product to attract as many people as they can. On the other hand, some promotional videos are aimed at higher-end athletes who are able and will use more complex
In the case of FitBit, substitute products that may seem different but can fulfill the same need include diet programs and gym equipment. Therefore, their marketing strategy to outsell these products include promoting the accessibility and ease of wearable technology. There is also a rising level of brand competition between similar products, such as the Gear 2 and the Apple Watch. Therefore, FitBit aims to promote their affordable prices as well as their advanced fitness technology to attract more customers. Furthermore, this product is available globally, giving them a competitive edge. The FitBit has dominated the wearable technology market; the marketing strategies are affected by sociocultural, technological, economic, and competitive environments. As these environments change through time, so must the product’s marketing in order to keep their customers and continue to