MRKT20052 Marketing Management and Digital Communications
1 Pages / 40 Words
Questions:Write the analysis of the competitors and evaluation of the context (i.e. environmental analysis including political, economic, societal, technological and legal aspects). Consider conducting:
a) Customer analysis
b) Competitor analysis
c) Other stakeholder analysis
d) SWOT analysis
e) Problem and opportunity statement
Motiv Rings are made with the concept of innovating the manner in which people might keep a track of the daily activities so as to monitor their fitness levels. The organization has developed the rings with the view of upholding the suitable and healthy lifestyle of the people.
The objective of the organization was to create simple devices that would be helpful for the people and ensure that proper tracking of the daily activities of the individuals can be maintained (mymotiv., 2018).
The headquarter of the organization is located in 179 11th Street San Francisco, CA. 94103 USA.
The continuous innovation approach of the organization has helped the same in creating the lightweight trackers as per the needs of the people to stay healthy and fit. The up gradation of the modern technologies and their implementation on the processes of creating the Motiv rings is undertaken by the organization through the identification of the healthy lifestyle needs of the people (Kroll, Boyd & Maslove, 2016).
The organization faces competition from different players in the international markets. HEXOSKIN and Oura are one of the topmost competitors of the business due to their wide product offerings. It has helped the organizations in grabbing over a huge share of the market over Motiv rings (Das et al., 2016).
Problem and Oppurtunity Statement
The different impositions that are made by the government bodies and the environmental controlling agencies has limited the growth and expansion of the businesses in the international markets.
However, the continuous innovation that is undertaken by the organization will be helping the same in maximizing its scope of expansion in the international economies.
Therefore, the continuous innovation in the product has helped the organization in targeting the fitness conscious young generation which has helped the business in expanding in the international markets.
Das, A. K., Pathak, P. H., Chuah, C. N., & Mohapatra, P. (2016, February). Uncovering privacy leakage in ble network traffic of wearable fitness trackers. In Proceedings of the 17th International Workshop on Mobile Computing Systems and Applications (pp. 99-104). ACM.
de Zambotti, M., Claudatos, S., Inkelis, S., Colrain, I. M., & Baker, F. C. (2015). Evaluation of a consumer fitness-tracking device to assess sleep in adults. Chronobiology international, 32(7), 1024-1028.
Kroll, R. R., Boyd, J. G., & Maslove, D. M. (2016). Accuracy of a wrist-worn wearable device for monitoring heart rates in hospital inpatients: a prospective observational study. Journal of medical Internet research, 18(9).
mymotiv. (2018). Fitness Tracker, Sleep Tracker & Heart Rate Monitor | Motiv Ring. Retrieved from https://mymotiv.com/
Pevnick, J. M., Fuller, G., Duncan, R., & Spiegel, B. M. (2016). A large-scale initiative inviting patients to share personal fitness tracker data with their providers: initial results. PloS one, 11(11), e0165908.
Phillips, S. G., & Nuovo, F. (2015). U.S. Patent Application No. 29/491,607.
Pinto, M. B., & Yagnik, A. (2017). Fit for life: A content analysis of fitness tracker brands use of Facebook in social media marketing. Journal of Brand Management, 24(1), 49-67.
Schmidt, B., Benchea, S., Eichin, R., & Meurisch, C. (2015, September). Fitness tracker or digital personal coach: how to personalize training. In Adjunct Proceedings of the 2015 ACM International Joint Conference on Pervasive and Ubiquitous Computing and Proceedings of the 2015 ACM International Symposium on Wearable Computers (pp. 1063-1067). ACM.
Wei, J. (2014). How Wearables Intersect with the Cloud and the Internet of Things: Considerations for the developers of wearables. IEEE Consumer Electronics Magazine, 3(3), 53-56.
Zhou, W., & Piramuthu, S. (2014, June). Security/privacy of wearable fitness tracking IoT devices. In Information Systems and Technologies (CISTI), 2014 9th Iberian Conference on(pp. 1-5). IEEE.
Talk to our expert to get the help with MRKT20052 Marketing Management and Digital Communications Answers to complete your assessment on time and boost your grades now