Fitbit Brand Extension Report: Principles of Marketing, MG412

This report analyzes Fitbit's potential brand extension into the mobile phone market. It begins with an overview of Fitbit, including its market share, sales trends, and existing brand values. The report then proposes a new product (a Fitbit mobile phone) and outlines a growth strategy using the Ansoff matrix, followed by a detailed STP (Segmentation, Targeting, and Positioning) analysis. A PESTLE analysis evaluates the political, economic, social, technological, legal, and environmental factors influencing the new product's success. The report also compares Fitbit's potential mobile phone with competitors like Apple and Samsung, including a visual representation. The conclusion highlights the importance of marketing principles in real-world applications and the significance of analyzing the company, its brand values, and external factors when innovating a new product.