Motiv Ring Situation Analysis: Market, SWOT and Competitors

This report provides a comprehensive situation analysis of the Motiv Ring, a stylish fitness tracker. It begins with background information on the company and its product, followed by a detailed market analysis, including demographics, market needs, and competitor analysis. The report also includes a SWOT analysis, evaluating the strengths, weaknesses, opportunities, and threats associated with the Motiv Ring. The strengths include its hands-free design and convenience, while weaknesses include high prices and low-profit margins. Opportunities include the growth of the internet of things and the increasing demand for wearable devices. Threats include security and privacy issues. The report concludes that the development opportunities outweigh the threats, emphasizing the importance of capitalizing on market opportunities to ensure the success of the Motiv Ring. The analysis is supported by references to relevant literature and industry reports.

MOTIV RING SITUATION ANALYSIS
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Background information
Motiv is a company that makes and produces small
lightweight fitness trackers (Motiv, n.d). The company
was founded by Curt von Badinski, Peter Twiss, Mike
Strasser and Eric Strasser and established headquarter
at 179 11th Street San Francisco, CA. 94103 USA.
Together they designed and produced a motiv ring
which one of its kind stylish fitness tracker that is unlike
the traditional wearable fitness gadgets, it fit in a ring.

Situation analysis
 Market Analysis of Motiv ring
 Motiv ring is a new device in the market
and therefore a strategic plan needs to
be adapted for market penetration. A
better understanding of the market is the
key to popularizing the product. Under
market analysis much on customers will
be addressed as well as competition
(Höller, Boyle, Karnouskos, Avesand, Mulligan, &
Tsiatsis, 2014).

Market Analysis of Motiv
ring
Market demographics
The customer profile for Motiv ring consists
of the following geographic, demographic,
and behavior factors.
 Geographic factors
 Demographic
 Behavior Factors

Market Needs
Motiv Company provides its customers with a health care cost
management program for employees that increase employee
productivity and decrease overall business costs (Chester, 2017).
Motive seeks to offer the following benefits that are important to
their customers:
 Convenience – the company have realized how convenience
affects consumption, and therefore, it makes motiv ring
convenient to customers the best way possible.
 Result-oriented service – Motiv is working to improve the
market strategy in order to increase and maintain it,
customers. The company strives to address the customers’
needs to gain much-needed customer loyalty hence attract
more market (Kumar, & Bhimasingu, 2015).
 Customization – the motiv ring is customized to fit the needs
and requirements of customers (Kumar, & Bhimasingu, 2015)

Competitors
The main competitors for Motiv ring are:
 YMCA – this Motiv rival market to the low-income people
who are looking for affordable fitness devices
 Basic fit – is a large company in Europe where it is a
market leader. Its model is to offer affordable fitness
services to the clients by use of membership plans.
 RedBrick Health – offers health management services to
its clients. It focuses on managing the wellness of their
customers by offering health initiatives that fit them.
 Huami – is the biometric and data-driven company the
offer services in smart wearable devices. Has branded
itself in the market with own devices which directly
compete with Motiv ring.

SWOT Analysis
This is one of the widely used concepts for
analyzing a company and a product. In
case, motiv requires market and product
analysis. The analysis is used to evaluate
the strengths, weaknesses, opportunities,
and threats in the company and the
product.
 Strengths
 Weaknesses
 Opportunities
 Threats

Strengths
These are features of Motiv that are advantageous
over the other products. The Motiv ring has the
advantage of being hands-free, environmentally
friendly, and convenient. Other advantages include:
 They are small and wearable as a ring
 They offer better experience via an internet
connection with mobile devices
 The devices are scientific and accurate on the
data sent to the users
 They help the users with the training and fitness
program

Weaknesses
Although a groundbreaking device in the market of
wearable devices, Motiv ring has weaknesses
which are a deterrent to their market (Austen,
2015).
These concerns reflect the wearable fitness
equipment are affected by several inherent
downsides
 High prices – the high-tech and customization of
Motiv make it cost high prices limiting
affordability and hence demand in the market
(Kalinauckas, 2015).

Weaknesses
 Low profits margins – the market for
wearable is at an infant stage. The
wearable technology is still in the
development stage and most are in the
conception and development stages. This
lower trust from the customers thus
reducing the market and profits (Carner,
2014).
 They have low market coverage – the
high prices of Motiv because of high
technology used, make it have low
market coverage and sales. It does not

Opportunities
These are the areas that the company can
exploit for the growth of the product. The
advantages come from external forces
which include the political, economic,
social, and cultural environment.
 The dynamic and rapid change in the
internet of things is revolutionizing the
interconnectedness of various devices in
the internet infrastructure.

Opportunities
 The developments in the sports industry
are also contributing to the growth in the
market for wearable devices (Size, & Wire,
2018)).
 There is a domestic social shift which has
increased the market for wearable sports
equipment. People have personal gyms in
their house and they acquire such
devices to track their body reaction to
exercises (Walker, & Roshan, 2018).

Opportunities
 Most people have changed their lifestyle
significantly. The realization of health
issues is a factor that has contributed to
the development of fitness groups (Park,
Kim & Kwon, 2016).

Threats
 Security issues
 Use of energy
 Privacy issues

Conclusion
The development opportunities of Motiv
ring are better than the threats facing it.
The advantages to Motiv ring outweigh the
disadvantages. The disadvantages cannot
be ignored. Therefore, Motiv Company
should seize the opportunities for
development that will increase the success
of the motiv ring in the market.

References
Austen, K. (2015). The trouble with wearables. Nature, 525(7567), 23-24.
Chester, J. (2017). Health wearable devices pose new consumer and privacy risks. Center for Digital
Democracy. Washington, DC: American University.
Motiv. (n.d). Fitness tracker, sleep tracker & heart rate monito. Retrieved from https://mymotiv.com/
Garner, C. (2014). American health care's temporal order. SSRN Electronic Journal. doi:
10.2139/ssrn.2385780
Höller, J., Boyle, D., Karnouskos, S., Avesand, S., Mulligan, C., & Tsiatsis, V. (2014). From machine-to-
machine to the internet of things. Amsterdam: Academic Press.
Endeavour Partners – Medium. (2014). Inside wearables Part 2. Retrieved from
https://blog.endeavour.partners/inside-wearables-part-2-july-2014-ef301d425cdd
Kumar, Y., & Bhimasingu, R. (2015). Key Aspects of smart grid design for distribution system automation:
Architecture and Responsibilities. Procedia Technology, 21, 352-359. doi:
10.1016/j.protcy.2015.10.047
Kalinauckas, A. (2015). Wearable technology. Engineering & Technology, 10(4), 36-43. doi:
10.1049/et.2015.0416
Park, E., Kim, K., & Kwon, S. (2016). Understanding the emergence of wearable devices as next-generation
tools for health communication. Information Technology & People, 29(4), 717-732. doi:
10.1108/itp-04-2015-0096
Kumar, Y., & Bhimasingu, R. (2015). How safe is your quantified self? Symantec. Retrieved from
https://www.symantec.com/content/dam/symantec/docs/white-papers/how-safe-is-your-quantified-
self-en.pdf
Size, F., Size, F., & Wire, B. (2018). Global stretchable conductive materials market 2018-202: Increasing
demand for wearable devices to boost growth. Technavio. Retrieved from
https://www.businesswire.com/news/home/20180704005227/en/Global-Stretchable-Conductive-
Materials-Market-2018-2022-Increasing
Walker, S., & Roshan, R. (2018). The small revolution is making big waves. Wearable technology. Retrieved