No customer has same needs and motivation to use a particular product. So it’s very crucial for marketers to classify market segments and create target strategy around it. Major wearable device market has been divided into different segments which are described below: The first segment is of health cautious people, who want to adopt a healthier life and ready to pay price in seek of their health. The wearable device helps them to keep a track of their daily activities and sleep patterns. They generally set their daily goals and share it with their social circle that keeps them motivated. Athletes, they have to be physically fit in order to remain in the competition. So they use these products for tracking training routines, sleep …show more content…
Young age men and women (age 16-30) can be potential customers of Fitbit that can be targeted with the promotion of their products in high school, college. Fitbit new collaboration with Tony Burch, American fashion designer is another effort from company to target customers who along with healthy lifestyle are seeking for a trendy and fashionable option which can give a fashionable appearance to their clothes. Similarly, fashion brands like Fossil have also tried to acquire this new market segment with the introduction of Misfit brand, people are becoming more aware of their appearance. Tech Savvy(Technology Lover), Brand cautious and people with above-average income are also potential customers for Fitbit. Positioning: The positioning of a company depends on various factors like price, place, and promotion, as it directly affects the sales of the product. Talking about Fitbit, target audience perceives that brand as a frontrunner in the fitness tracking industry whose main aim is to provide the healthier lifestyle to its customers with their various products. Fitbit is considered to be a one-stop solution for customers where they can use it as a lifestyle wearable, fitness trackers and also for Health purpose with the support of various …show more content…
Whereas Garmin Vivoactive has positioned themselves as a brand which provides best notifications, people find Microsoft band very uncomfortable apart from its capability to track accurate readings for running. As one single mistake can ruin the company reputation and will give other competitors chance to grow their market share. Customers filed skin irritation problems with the purchase of Fitbit Force, as a result, the company stopped their production line of this product as they know customers trust in their brand can be shaken. Another example is Jawbone which is considered to be a simple, great looking tracker with accurate readings but laid off its employees count twice in a row as their marketing strategy was not aligned to their customer’s