Market Analysis - Fitness Band

Name Roll #

Alok Kashyap EGMP57004

Madhur Raj N EGMP57034

Manish Kumar EGMP57035

Naresh Reddy Tallapureddy EGMP57039

Vishnupriya Hymavathi Bhaskara EGMP57075

Market Analysis Pulz : Fitness Band

TABLE OF CONTENTS

TABLE OF CONTENTS ....................................................................................................................................................................... 1

INTRODUCTION .............................................................................................................................................................................. 2

EXECUTIVE SUMMARY ................................................................................................................................................................................. 2

Overview of Fitness BAnds ................................................................................................................................................................ 2
Value Proposition of Fitness band ..................................................................................................................................................... 2
LITERATURE REVIEW ....................................................................................................................................................................... 3
MARKETING MIX: ...................................................................................................................................................................................... 3
Price: ................................................................................................................................................................................................. 3
Product:............................................................................................................................................................................................. 3
Place:................................................................................................................................................................................................. 3
Promotion: ........................................................................................................................................................................................ 3
MARKET NEEDS ......................................................................................................................................................................................... 4
SWOT ANALYSIS ....................................................................................................................................................................................... 5
PEST ANALYSIS: ........................................................................................................................................................................................ 5
FINANCIAL OBJECTIVE ................................................................................................................................................................................. 5
METHODOLOGY ........................................................................................................................................................................ 6
DATA REQUIREMENT .................................................................................................................................................................................. 6
The Functional Utility. ....................................................................................................................................................................... 6
Fitness Band Brand ............................................................................................................................................................................ 6
Pricing of the Fitness Band ................................................................................................................................................................ 6
DATA COLLECTION ..................................................................................................................................................................................... 7
Demography ...................................................................................................................................................................................... 7
CONSUMER VALUE: BRAND/PRICE/USABILITY ................................................................................................................................................. 8

SYNTHESIS AND INTERPRETATION .................................................................................................................................................. 9

PRODUCT SPECIFICATION ............................................................................................................................................................................. 9
MARKET ATTRACTIVENESS AND MARKET GROWTH ......................................................................................................................................... 9
KEY MARKET SEGMENTS ........................................................................................................................................................................... 10
COMPATIBILITY SEGMENT............................................................................................................................................................... 10
DEVICE SEGMENT ............................................................................................................................................................................ 10
DISTRIBUTION SEGMENT ................................................................................................................................................................ 11
TARGETING ............................................................................................................................................................................................. 11
POSITIONING ........................................................................................................................................................................................... 12
PERCEPTUAL MAPS : ................................................................................................................................................................................. 12
MARKET SIZE .......................................................................................................................................................................................... 12
CONCLUSION ................................................................................................................................................................................ 13
REFERENCES.................................................................................................................................................................................. 14
APPENDIX ..................................................................................................................................................................................... 15

Market Trends (Google trends, Twitter trends Data, growth factors, and opportunities) ............................................................. 15
FITBIT SWOT ANALYSIS ............................................................................................................................................................................ 16

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Market Analysis Pulz : Fitness Band

INTRODUCTION
A fitness band is a device with multi-purpose capability which helps us to monitor various daily physical activities. The
activities such as the distance covered while walking or jogging, and monitoring of heartbeat, SPO2 levels, sleeping patterns,
etc. Fitness bands are wirelessly connected to mobiles, tabs, laptops, or personal computers for long-term storage of data.
Smart Watches use Mobile Operating systems such as Android Wear or Apple WatchOS. The OS is specifically fine-tuned
to run applications such as organizers, music players, social media, Calendars, Maps, etc. Smart watches in modern times
have a touchscreen and also come with communication technology such as Wifi, Bluetooth, and commercial telecom such
as LTE, 5G. The Smart Watch can connect to private devices such as watch or to internet.
The objective of the report is to provide an in-depth analysis of the fitness band market specifically to Indian market noting
the learnings from global market. The analysis covers all the essential aspects of the industry including the current and
historical market trends, market segmentation, and market drivers and challenges. The analysis is done to help us to
understand and address numerous market challenges, identify the budding opportunities in fitness band and subsequently
help us to assist in the strategic decision.

EXECUTIVE SUMMARY

OVERVIEW OF FITNESS BANDS

The technology advancement, fitness consciousness, and increase in young population contribute to the market growth of
Fitness Bands. The data security is becoming a prime reason.

VALUE PROPOSITION OF FITNESS BAND

The value of fitness band is assessed based on the functionalities one provides based on the pricing and the brand. The
purchase satisfaction factor is attributed to the perceived value of the item. The combination of value perceived through
the utility value of the fitness band and derived social value from the branded fitness bands consolidates the fitness band
value.
Fitness trackers are utility devices for recording and measurement for fitness activity such as distance covered walking and
running, heartbeat monitoring, sleep pattern tracking, etc. A rise in disposable income and increased fitness consciousness
have led to a surge in demand for fitness trackers—an increase in youth population and technological advancement fuels
this market growth. The risk of data theft is leading to a decline in the sale of existing fitness trackers; thus, to cope up,
fitness tracker manufacturers are focusing on operating systems of these devices to increase data security. Manufacturers
are coming up with fitness trackers with customizable and widely compatible operating systems for these devices, which
are expected to drive market growth soon. The Fitness band segment is expected to dominate the fitness trackers market
during the forecast period of five years. However, the fitness bands segment is expected to gain significant attention from
highly fitness concerned consumers. The growing adoption of fitness trackers in fitness centers is anticipated to drive the
growth of the fitness trackers market over the forecast period. Online sales are one of the significant factors that propel
fitness tracker's market growth, as this channel makes products available to consumers across various regions.
Correspondingly, an offline sales platform provides a tangible demonstration of the product, augmenting promotion and
product awareness.

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Market Analysis Pulz : Fitness Band

LITERATURE REVIEW

MARKETING MIX:

The marketing mix refers to the set of activities followed by the companies to promote their brand or product in the mar-
ket. The typical marketing mix combines 4Ps' - Price, Product, Promotion, and Place. However, in the recent studies, we
can also observe that the marketing mix includes other Ps' like Packaging, Positioning, People, and even Politics as essen-
tial mix elements.
The following 4 Ps' describe the PULZ – The Fitness Band:

PRICE:
The fitness band is competitively priced at Rs. 3,500/- keeping in mind the Indian middle-class consumers.

PRODUCT:
The fitness band is a superior fitness band and a health-tracking and data maintenance device, which gives the total analy-
sis about the data collected from the customer through monitoring the pulse rate and GPS tracking to enable their location
to nearby healthcare centers. It is a small wrist band per the product specification. It has a health data analyzer, a unique
feature added in the band. Pulz can get up to 20 days battery life, while the other brand, on average with ten days battery
backup.

PLACE:
The fitness band will be available in both online and offline mode. It would be available on all the electronic outlets like
Reliance Mart, Croma and e-commerce platforms like Amazon and Flipkart.

PROMOTION:
Pulz is a new entrant in the market. To create the image of the brand in the mind of the consumers, the company is plan-
ning to tie up with Cult and local fitness centers in the metro cities. This would give it access to the customer base of these
fitness centers. Also, it would sponsor road-running competitions across multiple cities. In addition, sponsoring Indian
athletes, and upcoming sports personalities will help the company build the brand image. The promotions will also be
done through more traditional channels like advertising in newspapers, TV channels, and FM radio channels. The other
promotion plan is to reach out to corporate offices and provide the product at a discounted price. The company is also
planning to partner with insurance companies, and in turn, the insurance companies can offer their policyholders PULZ at
a subsidized cost.

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Market Analysis Pulz : Fitness Band

MARKET NEEDS

Inspire consumers to live a healthier, more active life; PULZ the fitness band, has been designed to fit seamlessly into
consumer life to achieve their health and fitness goals, whatever they may be.

The different factors which can influence the consumers from point of differentiation perspectives are competitive ad-
vantage of the PULZ in comparison to other fitness tracker, availability of the PULZ to all the consumers, suitable for the
consumers from the uses, and value-based pricing.

COMPETITIVE ADVANTAGE INFLUENCING FACTORS

Well-differentiated product can create significant While the focus is Indian market for PULZ the fitness band, The
competitive advantages. here differentiation include effective factors such as feeling, emotions, cultural appeal
from features, conformance quality, durability with associated with the products would have been the driving force
respect to battery life, reliability, repairability, and style. behind the acceptance of PULZ as the most suitable fitness band
PULZ the fitness band has been designed considering all in context of Indian Market.
the above-mentioned features which would help
positioning PULZ at better position in comparison to
other fitness tracker in Indian Market context
AVAILABILITY OF PRODUCT COST OF PODUCT
PULZ the fitness band will be available online on In order to target the mass penetration PULZ has been priced at
Flipcart, Amazon, eBay, Myntra, Snapdeal and other affordable range with value for money. It has the price which can
online shopping website. It will be also available on easily influence the middle class Indian consumers.
Indian stores such as Croma, Next, Reliance Digital,
So, The cost is directly proportional to the perceived value users
Staples, and others.
will gain from the usage of PULZ the fitness band.

PULZ – The Fitness Band is an economy friendly fitness device and customer segmentation is an important process. The
following table shows the customer segments of new product.

Geographic Segments Psychographic Segments

Geographically, PULZ campaign will be targeted nationwide Psychographic, PULZ targets lower and middle class who
initially followed by worldwide. We specifically target those are travel enthuse, interested in using latest technology
who are residents of second cities and the suburban and and athletic lifestyles.
metropolitan areas of large cities.

Behavioural Segments Demographic Segments

PULZ will target those who seek not just a healthy lifestyle,
Demographically, the target audience of our campaign
but a trendy and fashionable one as well. More specifically,
both male and female population of ages 18-65 with
PULZ will provide “value for money” product with cost
lower-mid income levels. Occupation consideration as
attractiveness and differentiating other fitness products. In
college students, employees and business
terms of user status, PULZ will target Nonuser, potential
professionals. These genders targeted currently are in the
user, regular users, and first users that would meet their
young and single , newlyweds, married couples, adults, old
trend and fashion standards. PULZ targeted for Ambitious,
age people.
health-conscious, and easy going personalities. PULZ
targeted consumers are undivided loyalty to one brand and
with divided loyalty between two or more brands.

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Market Analysis Pulz : Fitness Band

SWOT ANALYSIS

SWOT (Strengths, Weaknesses, Opportuni- Strength Weakness

ties, and Threat) analysis is a technique used to
• Robust design with a titanium • Lack of brand awareness
access an organization or its product to iden-
casing and scratch-resistant • Not compatible with iOS
tify the Strengths, Weaknesses, Opportunities,
glass
and threats in the market. This is also called
• Long battery life
situational analysis.
• Pricing
The device has several powerful strengths on • Integrated GPS
which to build, but the major weakness is the • Contactless payment
lack of brand awareness. The significant op-
portunity is the demand for a multifunction fit- Opportunities Threats
ness band. That delivers several valuable ben- • Growing demand for the fitness • Increased competition
efits at a much lower cost compared to the band • Downward pricing pres-
other competitive products available in the • Lower technology cost sure
market. Also, the "Make in India" initiative by
• Government promotion to set
the government of India provides a window of
up a manufacturing facility
opportunity to backward integrate and manu-
facture the fitness band in India. However, we
face the threat of ever-higher competition and
downward pricing pressure.

PEST ANALYSIS:

A scan of the external environment in which the firm operates can be expressed in PEST (Political, Economic,
Social, Technology) analysis.

Political: As the Indian government provides many incentives to Economic: As a result of a mass market that is largely
firms to have a manufacturing facility within the country, it presents untapped in the Indian context, the firm could leverage it
an opportunity for firms operating in the fitness band market to take to achieve economies of scale and provide consumers with
advantage and develop the low-cost band. affordable fitness bands.

Social: In the last two years since the pandemic hit the world, there Technology: With technological advancement, it has be-
has been a lot of focus on personal monitoring health. There is an in- come much easier to monitor health statistics with a high
crease in health awareness among all the sections of society. This degree of accuracy.
presents an opportunity for the fitness band marketer to cater to the
growing demand to the affluent class and the middle class and lower
class to a certain extent.

FINANCIAL OBJECTIVE
• The near-term objective (1-year goal) is to create brand awareness about the PULZ fitness band and sell at least
10,000 units.
• The long-term objective (3-year goal) is to sell one million units by focusing on athletes, exercise enthusiasts, and
health-conscious individuals aged 18-65 years.

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Market Analysis Pulz : Fitness Band

METHODOLOGY

This section describes the data collection methodology and framework designed to collect the data. The survey data is
captured based on the three fundamental categories in this segment. The survey data also captures the demographic data.

DATA REQUIREMENT

The survey data collection requirement is based on the following features of the smartwatch.

THE FUNCTIONAL UTILITY.

The functional utility is assessed from connectivity, the information provided to the user, historical data, chronological
data, and features provided as for the health and quick utilities like paying bills, calendar reminders, and preferences.

FITNESS BAND BRAND

The brand loyalty is always influenced from the customer satisfaction to given brand. Customers adopt to new Products
from the same brand as opposed to new product from the different brands. Most of the FitnessBands have similar features
in the market. The survey results captured details about brand loyalty.

PRICING OF THE FITNESS BAND

Given the functional utility and brand for a
smartwatch market, it must position rightly Functionality
with the market price. Higher prices reduce
customers' willingness to buy unless fitness
band is highly customized to a given cus- Fitness Pricing Customer Value
tomer.

Fitness Brand

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Market Analysis Pulz : Fitness Band

DATA COLLECTION

This section captures the data about the statistics collected for the analysis of fitness market segment based on
demographic parameters.

DEMOGRAPHY

Adults Demography:Age
30
25
25
20 20

15 15
10
10
5
5 0
Indian Survey 2021 US Survey 2021
0
Indian Survey 2021 US Survey 2021 18-49 50+

Demography - Gender Demography : Education

30 30
25 25
20 20
15 15
10 10
5 5
0 0
Indian Survey 2021 US Survey 2021 High School or less Some College Degree+

Men Women Indian Survey US Survey

Demography : Income Demography:Region

40 30
30
20
20
10
10
0 0
<5 lacs c<x<20 lac 20lac + Indian Survey 2021 US Survey 2021

Indian Survey US Survey Urban Rural

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Market Analysis Pulz : Fitness Band

CONSUMER VALUE: BRAND/PRICE/USABILITY

This section shows the data share with respect to brand, price, feature and usability associated with the fitness tracking across the
globe.

Brand PRICE
45000+
1000-5000
Others 11% 12%
Samsung10% AppleWatch
Gear 25000-
34% 45000
16% 5000-
28% 15000- 15000
25000 39%
Mi Band
40% 10%

1000-5000 5000-15000 15000-25000

AppleWatch Mi Band Samsung Gear Others 25000-45000 45000+

Feature Utility USABILITY

Calorie
Walking
Telephon CHART
Sleepe Counter
Distance
3%
Others 4% 3%
Analysis
Social
5%
10% Media Notificati
Welness
monitor 5%
Pedomete on
Reminders 28% r 36%
19%
5%
Heart
Rate
Navigation
18%
5%
Working
25%
Reminder
FitnessTra
14%
Welness monitor Navigation Working Reminders Others cker
20%

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Market Analysis Pulz : Fitness Band

SYNTHESIS AND INTERPRETATION

PRODUCT SPECIFICATION

Price-- INR 3500/-

Brand-- PULZ
Design -- Dual-tone. Design with full touch color display
Dimensions-- 31 mm tall x 8.6 mm wide
Reliability -- Robust design with titanium casing and scratch resistant glass
Compatibility-- Only Android devices
Supported Application-- Weather, Find my phone, Reminders, Contactless payment, HR monitor, Pedometer, Integrated GPS

Connector type-- Wireless/Bluetooth

Battery life-- 20days with Always-on display

MARKET ATTRACTIVENESS AND MARKET GROWTH

Current Population of India in 2021 = 1.38 billion as of December 12, 2021
Total population of India in the age group of 25+ = 0.5 *1.38 =0.69 billion
Total population of India in the age group of 25+ and who lives in towns and urban agglomerations
= 0.69 *0.278 = 0.19182 billion = 191.82 million
Out of 191.82 million population, 29.4 % of population falls under middle class. So, the total middle-class population in
towns and urban agglomerations = 0.294*191.82 = 56.4 million
So, the available market for PULZ – The fitness band in India is 56.4 million population
The Potential market will also be the same as the available market in this scenario as all these consumers would have interest
in fitness band product.
The market is expected to grow at a CAGR of 15.4% during the forecast period (2021-2028). This then will lead to a higher
share in the market for all the potential competitors and thus will lead to higher profit margins.
The top investment mar-
kets of the global fitness
tracker market are analyzed
High

across various regions. In-

dia is expected to grow at India
the highest rate during the
Middle
forecast period, owing to
Market Growth

East Asia
East
the increase in fitness
awareness in this region. Africa
Low

Low Market Attractiveness developing regions High pg. 9

Market Analysis Pulz : Fitness Band

KEY MARKET SEGMENTS

COMPATIBILITY SEGMENT
Broadly the Fitness bands come with following compatible operat-
ing systems.
a. iOS
b. Android
c. Windows
d. Tizen
e. Others.
The Segment diagram shows the distribution of the compatible seg-
ment and corresponding current market share.

DEVICE SEGMENT
In absence of device type market data in the Indian context,
we obtained the data from the US market. Based on device
type, the US market includes smartwatch, fitness bands,
smart glasses, smart clothing, and others. The market share
of the different devices in fitness tracker shows that the fit-
ness bands have the highest market share in comparison to
other devices in this category. The rising market share of fit-
ness bands is because of the increasing prevalence of chronic
lifestyle, along with rising health consciousness among indi-
viduals across the globe. The rising number of health clubs
and gyms is attracting consumers to join the health clubs and
gyms where they get high awareness of fitness tracker and
how to track physical activities using fitness bands. This
gives rise to huge demand for fitness bands and correspond-
ingly fitness band market growth.

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Market Analysis Pulz : Fitness Band

DISTRIBUTION SEGMENT
1) Selling product directly to consumers through own web-
site. Client can easily go to the site and make an order for a
given product. After making online payment, the firm will
make an arrangement for the delivery of the product.
2) Using other online retailers such as the [Link],
[Link], [Link], etc..
3) Retail stores such as Future Lifestyle Fashions, Decath-
lon, Spar, Spencer, Reliance, Shoppers Stop, Croma, etc.
These stores also stock products. Some of these large retail
stores such as listed above act as wholesalers for small dis- Figure showing sales of fitness devices based on
channel distribution for 2018. In the year 2021 due to
tribution agents across the country. Using this channel mix
pandemic the indirect channel % increased to 85%.
offers our product a variety of options in reaching out to the
customers. It ensures that the firm is able to reach both
online and brick-and-mortar customers.
The current distribution mix options have a number of benefits. One of main strength of this mix is reaching the clients in
different channels. Online customers can by the product from more popular website of [Link], [Link] who
cannot access the firm's website. Customers who prefer visiting brick-and-mortar stores can easily get the products at Croma
or Reliance stores. The strategy tries to ensure that both online and brick-and-mortar customers can have access to the
products of this firm. This strategy has a number of weaknesses despite its strengths discussed above. The main weakness
of the current channel situation is the possible conflict of interest. Our product is selling directly to the customers through
own website. This means that it is a direct market rival to online stores such as [Link], which stocks its products. It
may bring tension within these firms, which needs to coordinate closely. This strategy is also prone to confusion, unless the
firm employs specific people to manage its stall at retail outlets such as Croma and Reliance. The manner in which employ-
ees at Croma will explain the features and benefits of some of the firm's products may be different from what the employees
of Reliance will do. This may lead to confusion when a customer visits the two stores.
Our approach to marketing is eliminate own online stores and instead focus on 1) using online retailers to reach out to the
targeted customers, 2) Physical retail stores where the marketing management unit to coordinate with the management of
the major physical retail stores where its products are sold so that relevant employees responsible for these products can be
taken through short trainings about the product. It should consider establishing specialty shops in major urban centres. These
selected online and retail stores are already market leaders and gained customer trust to buy "value for money" products.
This strategy will also help to reach respective consumer segments to increase awareness, selling 10,000 units in first year
and subsequently reach 1 million units in 3 years.

TARGETING
PULZ – The Fitness Band targets diverse customers by offering a wide and diversified spectrum of products and services.
The major customers of this company include athletes, exercise enthusiasts, students, health-conscious and determined cus-
tomers willing to reduce their weight and improve their health outcomes through regular exercising and other physical
activities with continuous monitoring. The customers of the company mainly comprise people belonging to 18 to 65 years
of age. Also, the company targets students, employees, and business professionals by offering diversity in products and
services.

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Market Analysis Pulz : Fitness Band

POSITIONING
PULZ – The Fitness Band is positioned as a "value for money" offering high-quality products and services to buyers with
latest technology innovation as per listed specifications. Further, PULZ – The Fitness Band targeted to position as "value
for money" with technology innovation by offering differentiated, unique, and the best products to its customers

PERCEPTUAL MAPS :
Perceptual Mapping is a graphical representation of
the product positioning of the brand, product or ser-
vices in the markets along with the competitors. This
is also known as Positional Mapping.
To have a competitive position in the market, a firm
must 'define its target' in the market and study its
'competitive advantage.' To study the positioning
and competitive advantage of the product we have
created a framework that projects the different com-
petitors and their features with the below analysis.
The analysis is consisting of two attributes, that is
Price and Features, which is further categorised into
4 i.e., High Price, Low Price, Basic Features and Ad-
vance features.

MARKET SIZE

Fitness and being healthy has become common need for in-
dividual and has huge advantage for healthcare industry. As
an example, an individual using Fitness bands has a benefit
of reducing emergency cost, re-admission cost, hospitaliza-
tion cost, prediction of health and advance consultations. In-
surance company like Philips providing the devices and mon-
itoring the health of individual insurers in real-time. The mar-
ket of Fitness Bands/Apps expected to grow USD 13,016.77
Million by the end of 2025 with 26% of Compound Annual
Growth Rate (CAGR).

Huge rise in the fitness app market size was due to the out-
break of the COVID-19 pandemic. Individuals were unable
to attend gyms and wellness facilities to do physical activity.
This market's growth has been supported by the growing
need for consumers to lose weight and remain healthy while
sustaining their lifestyles. Indian Healthtech market is posi-
tioned to be $21B by 2025 which also includes great ad-
vantage for Healthcare Fitness devices as PULZ – The Fit-
ness Band.

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Market Analysis Pulz : Fitness Band

CONCLUSION
In the Indian context, the tech giants in fitness sector like Apple, Fitbit (acquired by Google), GOQii, Xiaomi, Samsung
cannot afford to simply imitate what has worked in the western hemisphere and expect it to be an overnight success in the
Indian market.
PULZ has been developed by considering a deep understanding of the usage and how to assess the data results captured by
the device and what are the best ways to make sure that the consumer can capture value the device creates.
The devices which enable the user to multi-task, are particularly robust and can endure prolonged usage with minimum
maintenance, can't be lost easily, and intuitive to the average Indian consumer will be the ones who capture the major market
share amongst the current incumbent players. At the same time, devices which are very expensive, uncomfortable to use
and not ergonomically efficient, causing discomfort to the user thus dissuading continuous usage will result in the product
not being able to catch on in the Indian context
PULZ has been created to differentiate it from other fitness bands by focussing on the Indian environment and understanding
why Indians make the choices that they do, and then designing a high-quality, high-value fitness band around that concept.

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Market Analysis Pulz : Fitness Band

REFERENCES

[1]. Hypothesis for fundamental determinants of user acceptance, available at [Link]

ble/249008?origin=crossref&seq=1#page_scan_tab_contents
[2]. A Theoretical Extension of the Technology Acceptance Model: Four Longitudinal Field Studies, avail-
able at [Link]
[3]. TAM details, available at [Link]
Market attractiveness points, available at [Link]
Fitness Tracker market share by device type, available at [Link]
ness-tracker-market-103358

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Market Analysis Pulz : Fitness Band

APPENDIX

MARKET TRENDS (GOOGLE TRENDS, TWITTER TRENDS DATA, GROWTH FACTORS, AND OPPORTUNITIES)
This Section we post the interest growth in SmartWatch and Fitness band.

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Market Analysis Pulz : Fitness Band

FITBIT SWOT ANALYSIS

Analysed different available fitness bands and respective SWOT analysis like Fitbit, Xiaomi, Samsung, Wyze,
etc.. while making this product as "value for money" with technology innovation.

Marketing Gaps

The devices which can be worn for an extended period of time enhancing customer satisfaction by delivering the
value it has promised can be achieved by the following means. These devices should be smart and be connected
to the internet to provide a seamless experience along with a basic independent processing power which enables
it to present information in an ambient way. The key is to create value on the basis of daily usage and the users
should not be interrupted in the implementation of his tasks. Feedback should be subtle and least obstructive to
make it easier and convenient for the user to process the data at his own leisure. Fitness Tracker have the additional
benefit of having the sensory data to determine what is the user's overall state of mind – if he is stressed or relaxed,
and can provide the most appropriate response accordingly. It should also provide as many delighters as possible
to ensure customer loyalty. The fitness and healthcare sector, where the Fitness Tracker tracks and provides the
data points regarding the health of the user, there is a lot of scope for innovation in the existing product line –
such as gamification, introducing social incentives to encourage community / group adoption as well as building
an augmented product by providing a comprehensive set of services and charging based on usage.
To encourage consumer adoption, we recommend to target enterprises rather than the end consumer, as the user
will be more willing to adopt a new tech if their employer pays for it, while the company can fund the purchase
of fitness band to enhance productivity and accountability amongst its employees.

pg. 16