1.0 SITUATION ANALYSIS (SWOT)
1.1 Current Marketing Situation
The United States is ranked the most obese nation in the world and the trend continues to grow. The Organisation for Economic Co-operation and Development projects that the obesity rate will reach nearly 50% by 2030. One of the most effective ways to reduce obesity is to promote regular exercise. The most popular form of exercise in the U.S. is walking, running, or jogging using a treadmill. Studies reveal that over 50% of consumers prefer to use their smartphone while working out. Today, many treadmills on the market include innovative features that sync between smart devices and allow fitness tracking, use of social networks, apps, and more. However, they do not have the
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It is ideal for families of all sizes and will be heavily marketed to the fitness industry with a focus on middle and upper class fitness clubs in large cities and urban areas. Due to Apple’s high price strategy and product quality, the iMove will target high income earners that are executives, professionals, and students willing to pay for leading-edge fitness products with advanced technological …show more content…
Existing relationships with strong network of distribution channels which include 3,000 retailers and 320 large distributions
· Weaknesses
High priced products that lead to limited sales targeting the middle-upper class
Limited knowledge about the design of workout equipment due to specialization in technology, software, and consumer electronics iMove will be incompatible with other operating systems in an effort to convert customers from competitors
· Opportunities
Create a new product line and expand growth in the fitness industry market
Gain more of a competitive advantage due to product differentiation and innovation
Meet the rising demand of customers for smartphone capable devices and technology with advanced capabilities and features
· Threats
Imitation and strong competition from existing competitors
New competition with established brands in the fitness industry
Copyright infringements for integrating code that already exist (According to Unified Patents, Apple is the most targeted company for patent infringements.)
Increased risk of data breach and more of an opportunity for criminals to obtain personal information stored on the machine
1.4 Competitive and Industry Analysis
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