Nfluenced by the key skills and attributes of the working marketer in its curriculum design, Principles of Marketing requires you, the student, to work on a Marketing Plan for a chosen company from the first to the last session. You will develop an innovative product/service for a company of your choice which operates within the global healthcare industry. Your forward- looking written report must be based on credible research describing the recommended marketing activities for the chosen company in relation to the innovative product/service

Fitbit Health Navigator Student Full Name Institutional Affiliation Course Full Title Instructor Full Name Due date Fitbit Health Navigator Fitbit, which operates worldwide in the health and fitness industry under Google, is quite famous. Founded in 2007, since then, the company has tried its best to be the pioneer of wearables and smartwatches with features that trace the health metrics of an individual, including heart rate, sleep patterns and physical activity. The company aims to ensure its users live healthier and more active lives by providing insights and user data to track fitness level improvement. Product Idea: Fitbit Health Navigator Product Description and Specifications: The Fitbit Health Navigator is a cutting-edge Wearable Device for Proactive Health Management and Telemedicine. This advanced smartwatch goes beyond traditional fitness tracking to bring a suite of medical-grade sensors backed up with telehealth features to support proactive health management. Key Features: Continuous Glucose Monitoring (CGM): This includes integrated non-invasive sensors that run to monitor blood glucose levels and provide real-time valuable data to diabetic patients and health-conscious people (Miller, 2020). ECG: Improved functions of ECG that measure heart conditions, including atrial fibrillation, with a professional level of accuracy. Blood Pressure Measurement: Small but very accurate blood pressure measurement for monitoring cardiovascular health. Telemedicine Integration: In-app video and chat communication functionalities with healthcare providers will make healthcare access available anytime from anywhere. AI-Based Health Assistant: AI-powered personalized insights and recommendations on health that enable informed decisions regarding their health. Medication Management: Allow the setting of reminders and alarms to adhere to prescriptions; coordinate and communicate with pharmacy services to make it easy to refill prescriptions. Emergency Alerts: Automatic fall and emergency detection with instant alerts to emergency contacts and medical services. Justification: Fitbit Health Navigator is an innovation that resonates strongly with the current demand in the global health industry: easily accessed real-time health monitoring and telemedicine services. For instance, there is a growing popularity in the continuance of chronic diseases such as diabetes and illnesses related to the heart, which are highly demanding for sustainable health monitoring solutions (Hodgson et al., 2021). The product will leverage Fitbit's existing wearable technology with expertise in health data analytics and incorporate new medical-grade features for a comprehensive health management system. Internal (Micro) Analysis: Customer, Competitor and Company Customers Fitbit can use a variety of Customer Relationship Management (CRM) approaches to manage customer relationships successfully. For example, Fitbit can use personalized communication with customers by using their contact information to make recommendations and offers based on personal preferences and health goals (Baashar et al., 2020). It could be targeted email campaigns, in-app messages, show specials according to purchase history, or fitness activity. Another CRM approach is for Fitbit to engage with clients on social media. Being active in answering customer questions, feedback, and reviews on social media sites like Twitter, Facebook, and Instagram builds a community and shows a customer-oriented business. Competitors Significant competitors in the health and fitness wearable segment include Apple Samsung's Galaxy Watch series, and Garmin's fitness trackers. It strengthens such competitors' brand recognition, technological innovation, and ecosystem integration (Sarhaddi et al., 2022). The Apple ecosystem, for instance, supports very tight integration with their other devices; Samsung has the Galaxy Watch, which is sleek in design and full of features; finally, Garmin provides its long heritage of robust fitness tracking functionality. Fitbit has the following strengths: first, proven experience in developing wearable devices; second, it has a good brand reputation with its reliable and innovative devices; and third, it offers health-specific features such as continuous glucose monitoring and telemedicine integration. Weaknesses are data privacy concerns, given that Google acquired the company, questions from time to time on product accuracy, and the need to be innovative to stay ahead of competitors. External (Macro) Analysis: PESTEL Table: 1 Macro Analysis Factor Description Impact on Fitbit MedMonitor Political The country has a stable political environment with supportive healthcare policies. There are government initiatives to promote digital health solutions. The supportive political environment encourages the adoption of innovative healthcare technologies like Fitbit Health Navigator. Economic People in the region have moderate to high spending power, with a growing middle class. There is an increasing trend towards investing in personal health and wellness. Higher spending power enables more people to afford advanced health monitoring devices like the Fitbit Health Navigator (Kang & Exworthy, 2022). Social The population has a positive attitude towards using healthcare electronics, viewing them as tools for proactive health management and disease prevention. Favorable social attitudes towards healthcare electronics create a receptive market for the Fitbit Health Navigator (Kang & Exworthy, 2022). Technological The population is technologically savvy, with widespread smartphone access and a high level of comfort with digital devices. High technological literacy facilitates adopting and using advanced wearable devices like the Fitbit Health Navigator (Kang & Exworthy, 2022). Legal There are regulations in place regarding data privacy and medical device standards. Compliance with these laws is essential for market entry and operation. Compliance with legal regulations ensures the Fitbit Health Navigator meets data privacy and medical device standards (McGraw & Mandl, 2021). Environmental The population is increasingly environmentally conscious, with a preference for eco-friendly products and sustainable practices. The Fitbit Health Navigator should be designed using environmentally friendly materials and sustainable manufacturing practices to improve its attractiveness (Kang & Exworthy, 2022). SWOT Analysis for Fitbit Health Navigator Table 2: Strengths (Internal) and Weaknesses (Internal) Strengths (Internal) Weaknesses (Internal) 1. Proven experience in developing wearable devices. 1. Data privacy concerns post-Google acquisition. 2. Strong brand reputation for reliability and innovation. 2. Questions regarding product accuracy. 3. Effective customer relationship management strategies. 3. Limited ecosystem integration compared to competitors. 4. Innovative technology and user-friendly designs. 4. Relatively more minor product range compared to competitors. 5. Established presence in global markets. 5. Challenges in maintaining user engagement over time. Table 3: Opportunities (External) and Threats (External) Opportunities (External) Threats (External) 1. Supportive political environment and government initiatives for digital health solutions. 1. Compliance with legal regulations regarding data privacy and medical device standards. 2. Increasing middle-class spending power and growing market for advanced health monitoring devices. 2. Intense competition from established brands like Apple, Samsung, and Garmin. 3. Positive social attitudes towards healthcare electronics and proactive health management. 3. Economic issues affect consumer spending on non-essential products. 4. Populace that is well-versed in technology and heavily uses smartphones. 4. Technological barriers and digital illiteracy hindering market adoption. 5. Opportunities for collaborations and subsidies through government initiatives. 5. Over competitiveness leading to challenges in market penetration. 6. Expanding consumer demand for sustainable practices and environmentally friendly items. 6. Potential backlash from eco-conscious consumers for overlooking eco-friendly features. Summary With its strength i...