SWOT Analysis on Fitbit Inc
This is the detailed SWOT Analysis of FITBIT which covers the internal and external audits of company based on the important key factors such as market share, brand value, customer satisfaction, financial position, marketing strategy, competitors, economic conditions and others.
Fitbit is the US based company, which is manufacturing the product, fitbit tracker to measure the walking distance, quality of sleep and various other personal matters. This is the wireless enabled wearable device, which is providing in different models. The client can pay the premium amount at the fixed rate and they can download data analysis from this website. This device is used to promote healthy lifestyle and gives awareness to the clients about their healthy activities.
The newly introduced products and the services can face the increasing risks of finances and with the diversification; the risks over the products can be reduced. The company can get the diversification potential and it can minimize the risks over the product. The SWOT analysis can help the clients to understand the strength, weaknesses, opportunities and threats, which are faced to the products and SWOY analysis of Fitbit provides the advantage over its competition.
• Having less weight and easily portable
• Very comfortable to use
• Maintain attractive web page
• Wireless device, which is easy to portable
• Use for different purposes like measuring number of steps, clients walk
• Use for measuring deep sleep
• Having barrier of entry in the market
• Convenient access in the domestic market
• Enjoy high growth rate of product in the market
• Added with experienced business units
• Provided with current distribution and sales networks
• Having plain design, which is unattractive and fail to get attention of other clients
• Plain display, which do not have enough information for the clients and they fee difficulty in getting appropriate and complete information
• It is not available on Windows Phone Platform and it is needed to be displayed on various other windows phone
• Having small business units
• Look for good growth rate and profitability of the product in the market
• Look for the venture capital
• Search for new markets to enhance sale of products
• Provision of global markets
• Added with new acquisitions of the market for exhibition of product
• Let it recognize on international level and look for international and emerging market to enhance its sale
• Enhance its capability and use it for some other personal metrics
• Use it in the health science to find health parameters with its use
• Changes in tax ratio
• Unequal cash flow
• Some impending technological problems for device
• Face tight competition of product and have less profitability
• Having some external business risks
When we do analysis of the SWOT of the product, then we need to check the financial and strategic analysis, history of product, business and financial structure, strategy of corporate sector, management and operations. It is also provided with the detail SWOT report including key competitors, products and services of the products, detail of financial information and provision of data entirely or in the parts, which can help the clients to understand the nature and function of the product.