Competitive Analysis

1601 Words7 Pages
Who are we and how did we get here? A lifelong triathlete, John Fixx has a passion for technology. John graduated from the California Institute of Technology receiving his Master’s degree in 1979 and upon graduation began work in the medical device industry. In 2003, John left his position as an electrical engineer to pursue his dream of making high tech training devices that are not only affordable, but also accurate and reliable. John founded Bedejajomi in 1994 with a number of like-minded engineers. After throwing everyone’s names into a pot and stirring a while, we got a name as unique as our products; Bedejajomi. Intensity, introduced in 2005, was the first wearable performance monitor available to the average consumer that…show more content…
The Bitfit needs to provide numerous applications and aids that replace multiple applications and recording devices making our product the easiest and most reliable health managing device within the market. Our advertising must justify our higher prices convincing consumers our product delivers the multiple tools monitoring health and wellness. We’ll need to provide various models from a basic Bitfit with the essentials to a deluxe version providing and replacing numerous applications providing the 24/7 accountability consumers are searching for. We need to establish demand then leverage our position with discounts on our higher end models but not lowering the overall price of all our products. Lowering price to meet surplus equilibrium will drive the demand down devaluing our product. Cost structure Establishing a cost structure requires understanding marketing, sales, materials, labor cost and overhead expenses is essential to determining the appropriate price to charge per unit. This cost structure is established by fixed and variable costs, understanding competition, as well as market environment. Variable manufacturing costs such as overhead and labor require continuous monitoring to ensure the production and laborers producing the product are proportional to the desired profit.
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