Motiv Ring: SWOT Analysis, Market Segmentation, Pricing and Promotional Strategies

This article discusses the SWOT analysis, market segmentation, pricing and promotional strategies of Motiv Ring, a fitness gadget that helps to track the fitness level of the customer by providing data of their heart rate, blood pressure, calorie tracker, sleep tracker and measures the number of kilometres and individual have walked in a particular day.

Running head: DIGITAL COMMUNICATION
DIGITAL COMMUNICATION
Name of the Student
Name of the University
Author note

DIGITAL COMMUNICATION
Motiv ring is an electronic wearable device that is paired with the mobile phone to track
fitness level of an individual (Motiv, 2018). The rings are the size of atypical traditional ring and
it gives information about the calorie level, heart rate, and sleep tracker and also help to record
how many kilometres an individual have walked in a particular day. The Motiv ring is widely
used by the professional athletes and the trainers to record the fitness level of the individual.
Customers have become health conscious and leading towards a more healthy lifestyle.
Nowadays the youths have become proactive for increasing their fitness level. Motiv ring helps
them in keeping track of their fitness and helps them to work according to that. Motiv ring is
small and cheaper than the fitness watches, which also provide same services.
SWOT analysis
Internal analysis of the Motiv ring will help to understand the strengths and the
weaknesses of the organization and the external analysis will help to understand the
opportunities and the threats that are associated with the organization. SWOT analysis will help
to conduct the internal analysis of the company (Aithal,, Shailashree, & Kumar, 2016).
Strengths:
 Change in lifestyle: Customers are becoming health conscious and they are highly
focusing on their fitness level. Motiv ring helps them to track their fitness all the time.
 Application in sports: The competiveness in the game of sports has increased and the
athletes and the trainers are prioritizing the fitness of the athletes more than anything.
Motiv ring helps in continuously record the heartbeat, track the calorie and the heart beat
of the athletes.

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 Affordable: The motive rings costs way lesser than the smart fitness watches. The fitness
watch costs above 500 dollars whereas the Motiv ring costs 200 dollars.
 Gives space for the normal watch: Many customers do not like digital watches and they
want to have their normal watches instead of the smart watches. Motiv ring helps them to
get their wrist watch back and also helps them to track their sleep and fitness data.
Weaknesses:
 Lack of display: Motiv ring does not have any display like the smart watch which gives
the information. To get the data, Motiv ring uses the Smartphones.
 Overpriced: Though the Motiv ring is cheaper than the smart watches, the product is
overpriced. The ring does not have a display which is one of the key disadvantages and
the reason for being overprices.
Opportunities:
 Customer preference: The customer’s are becoming more health conscious and they are
spending a lot of money to increase their fitness level. They can use this opportunity and
bring more devices and market their product in a way that kit grabs the attention of the
customer.
 Collaboration: Motiv ring can emphasize on collaborating with other products like
smartphones. For example, Samsung releases its smart watches with their high range
smart phones. Motiv ring can collaborate with any of the smart phone brands. This will
help to increase their brand recognition and will also help them in gaining a customer
base.

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Threats:
 Substitute products: One of the major threats that Motiv Ring might face is the threat of
the substitute products. Substitute products fitness bands, smart watch possess a major
threat for Motiv ring.
 Rising competition: The rising level of competition in the market is a threat that Motiv
ring have to deal strategically. New organization and even the established organizations
like Xiaomi, Samsung, and Apple are also producing their own products and coming out
with extra features, which can prove to be a headache for the growing company like
Motiv Ring.
Market Segmentation/ Potential customer:
Market segmentation means segmenting the customer market according to their needs and
targeting the right customer base according to the nature of the products (Solomon et al.,
2014).
Motiv ring is a fitness gadget that helps to track the fitness level of the customer by
providing data of their heart rate, blood pressure, calorie tracker, sleep tracker and measures
the number of kilometres and individual have walked in a particular day.
The target customer of the Motiv ring should be the athletes and the young generation of
who are health and fitness conscious. The main target should be the customer whose age is
between 16-32 years. However, more than half of the population have become health
conscious and focusing on living a healthy life. Therefore, Motiv ring can also target
different age groups as well.

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Pricing strategy:
The pricing of the product should be kept in mind before launching the product in a new
market (Nagel & Muller, 2017). The organization should understand that their product is new in
the market and it needs some time to make good brand recognition in the market. The
organization needs to keep the price of their product lower than their rivalries and should focus
on gaining the customer base rather than incoming profit. The price of the product should be
$150-$200.
Promotional strategy:
Promotion is an important factor that the organization needs to plan effectively. Without
effective promotion the organization will not get proper recognition in the market, ultimately the
customer will not prefer the products. This will affect the organization in earning the sustainable
revenue in the market. Apart from this, Motiv ring is a new and growing organization in the
market for this the organization needs to promote their market effectively (Galician, 2013).
The promotional channels that the organization can use are:
 Television
 Sport magazines
 Newspaper
 Social media
 Hoardings

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PEST analysis:
PEST analysis will help to understand the Political, Economic, Social and technological
factors that will affect the Motiv ring industry (Gupta, 2013).
Political factors: The rules and the regulation of the government vary from country to
country. Motiv ring have to research the government policies, laws, the import and export rules
and all other important factors.
Economic factors: It consists of the factors such as the economic condition of the country, the
buying power of the customer. Motiv ring will release its product in the country where the
buying power of the consumer is high.
Social factors: Culture of the particular community affects the buying decision. Motiv ring
have to operate their product in the diverse culture and the marketing strategies will be highly
dependent on that.
Technological factors: Motiv ring have to be updated with the latest trends and the softwares
that is trending in the market.

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References:
Aithal, P. S., Shailashree, V., & Kumar, P. M. (2016). Application of ABCD Analysis
Framework on Private University System in India.
Galician, M. L. (2013). Handbook of product placement in the mass media: New strategies in
marketing theory, practice, trends, and ethics. Routledge.
Gupta, A. (2013). Environment & PEST analysis: an approach to external business
environment. International Journal of Modern Social Sciences, 2(1), 34-43.
Motiv. (2018). Fitness Tracker, Sleep Tracker & Heart Rate Monitor | Motiv Ring.
Retrieved from https://mymotiv.com/
Nagle, T. T., & Müller, G. (2017). The strategy and tactics of pricing: A guide to growing more
profitably. Routledge.
Solomon, M. R., Dahl, D. W., White, K., Zaichkowsky, J. L., & Polegato, R. (2014). Consumer
behavior: Buying, having, and being (Vol. 10). London: Pearson.