Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of Fitbit analyses the brand by its strengths, weaknesses, opportunities & threats. In Fitbit SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Fitbit to benchmark its business & performance as compared to the competitors. Fitbit is one of the leading brands in the consumer electronics sector.
The article below lists the Fitbit SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Fitbit SWOT Analysis:
For Fitbit, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
The strengths of Fitbit looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Fitbit :
1. Fitbit is the 3rd largest wearable fitness company in the world
2. Fitbit produces different types of products targeted at different segments
3. It has watches, trackers and accessories to offer
4. Fitbit offers apps and dashboard to track and analyse the data for the user which can help over a longer period of time
5. Fitbit partnered with Adidas to produce branded device
6. Fitbit devices are focused on various aspects like weight, walking, running, sleep, vitals etc.
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Fitbit SWOT Analysis:
1. Fitbit is limited to one segment of the market i.e. wearable fitness devices
2. Similar devices are being launched at cheaper prices
3. Smartphone companies are launching smart apps and accompanying devices which are giving serious competition to fitbit
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Fitbit SWOT Analysis:
1. Fitbit can look into mobile handset market to launch a fitness focused smartphone
2. Partnership with sports teams or athletes can help boost brand image
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Fitbit are as mentioned:
1. Competition is growing in the fitness and health technology space
2. There is no strong evidence to support link between fitness devices and actual fitness improvement
There are several brands in the market which are competing for the same set of customers. Below are the top 11 competitors of Fitbit:
People in middle income group and young demographics
Fitness Device which you can help you lose weight and become fit
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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