Topic > Fitbit Case Study - 725

With future revenues potentially reaching $53.2 billion by 2019, rival companies have developed comparable products (Juniper Research, 2014). Garmin, Nike, Jawbone, Polar and Mio have created similar personal wearable fitness products to enter and compete in this market. These products such as Garmin Vivofit, Nike SportWatch, Jawbone UP4, Polar Loop 2 and Mio Fuse fitness devices have step tracking, heart rate monitoring and other similar biofeedback technologies. These products also share comparable prices to attract first-time, prospective, and repeat users to capture their market shares. Each company markets their product's points of difference compared to Fitbit products in an effort to gain relevance and provide consistency to consumers. Points of parity between similar products are the common associations in each device offering varying degrees of real-time reporting of steps counted, heart rate tracking, calories burned, and global positioning system (GPS) tracking to meet user needs. With future revenues expected to reach $53 billion, companies want to gain market share by promoting brand awareness to increase consumer revenue. Fitbit and competing products deliberately target the market segment of consumers who are physically active, comfortable with technology and use social media. Furthermore, each of the