Write an essay on Microsoft band.
Microsoft band is one of the leading brands of the wearable market as it has some sharp features like providing information regarding health and fitness. Microsoft band is also useful for calculating the heart rate and can be used as a microphone also. It also offers some features like a user can check the emails, events on a mobile calendar, and alarm on a digital clock and can also access maps. This information is regarding Microsoft band and its opportunities and threats in the global market. There are many competitors of Microsoft band like Apple etc. but Microsoft band is promoting the health benefits and consciousness of the product at a much affordable price (Munuswamy ,2016).
The Microsoft band is having a huge competition in the technology of wearable, fitness and the industry of smart devices or equipments. The wearable technology is one of the best technologies which is doing a tremendous growth in the market all over. It is getting a good growth because of mainly technological innovation, increasing people consciousness about their health and globally the rising aging population. The potential of the industry can be determined by the fact that both the big established companies and small companies are having their interest more in the wearable technology. The private market consumer shows that they are fond of some items like smart glasses, fitness and health trackers or even smart jewelry or smart fashion. The wearable electronics industry was growing very fast as they were having worth of 2.7 billion in2012 and is projected to be having worth of more than 8 billion till the year 2018 .
There are several opportunities which can help like having a substantial growth in the technology of wearable industry in recent years and is also projected to continue. Other opportunity is that nowadays people are very much health conscious and need some fitness accessories like Microsoft band so that people can live a healthier lifestyle. The Microsoft band is having a good connectivity and joint venture with other well-known brands to make it the most pleasant wearable technology in the overall market. Young people specially like to buy some smart wearable which is more stylish and having some first class functions and it is all present in the Microsoft band. One more opportunity is there as Microsoft is having some joint venture with sports that makes it easier to board the athlete and come into the athletic wear market. Microsoft band is more used for fitness than a lifestyle icon.
Some problems and issues are also there like there is a huge competition in the wearable industry of fitness as the well-known company is having more visibility and a number of products in the market already. The distribution of Microsoft band is limited and not having a wide area. Microsoft band may fight to stay significant as tastes of the consumers are constantly changing in the smart wearable market which is already soaked with the fitness garnishing. Microsoft is also having less no. of resources to promote it widely and hence consumers didn’t get the exact positioning of Microsoft band and that is for fitness and health conscious people (Jurevicius ,2013).
To increase the sales of the Microsoft band with minimum 20% growth and a wide campaign make public and to increase traffic to the Microsoft band website by 30% for the first 12 months of the campaign .
Marketing strategies and marketing mix
There are many strategies which help to make a brand leader in itself like a product strategy as Microsoft band is a fitness tracker placed in the wearable technology market. Microsoft band includes some sharp features like optical heart rate sensor, gyro meter, GPS, UV sensor and a microphone also. Customers can also check email, events on a mobile calendar, and alarm on a digital clock and can also access maps. Microsoft band is friendly with mobile devices that examine the user’s fitness data in different charts and graphs. Their strategy is to use the product for fitness and several other data savings than the lifestyle watch. According, to the pricing strategy Microsoft band has retained a competitive pricing strategy as compared with the other competitors which are charging very huge amount than Microsoft band. In pricing Microsoft band has decreased its price due to release of the second generation Microsoft band 2. Microsoft is also getting benefitted because people used to love the technology than the lifestyle (Yuwono ,2014). Microsoft is also using an intensive distribution strategy to sell the Microsoft band to the consumers. Consumers can buy the product either from a store itself or they can purchase it online from different retailers or distributors and from majority of outlets like best buy etc. Microsoft band is also associated with the electronics department among direct and indirect competitors. Target market is a gain for the Microsoft band as they are also targeting market of young athletic professionals. This market consists of men especially within the ages of 18 to 34. Microsoft band is promoting the fact that fitness alert persons are interested in the new and inventive technology that can be included into their workout also (Sterling ,2014). These people are very much concerned about their professional carrier that required cleverness and Microsoft band is available at a very competitive price. The band is very much useful for its user because of its several technological features and sensors. Positioning of the Microsoft band can be done through two ways like first is promoting the product to busy and health conscious men who want to incorporate a consistent exercise routine into their schedule tight life. Microsoft band is basically attracting as it provides personal assistant and receives cell phone notifications and it is very much supportive and organized. Second, is the positioning of the product can be done by promoting Microsoft band to young athletic professionals who want an exercise assistant that organizes their life style. It also helps in their exercise habits as they provides workouts and monitors for an individual’s heart rate, calories burn and sleep quality which is very useful for an athletic professional (Bold ,2014).
A successful plan will always providing revenues on the high side and expensive on the lower side. Microsoft band offers the most advance array of senses in any of the wearable. Microsoft band is very much economical as compared with the other wearable brands. Competitors are not available widely as Microsoft band can take an advantage having monopoly in the overall market. Microsoft band is also helping to get the accurate information about the health and fitness as Microsoft health is the most interesting and ambitious aspect of the band (Thurrott ,2016).
Microsoft band is having some objectives like increasing sales by minimum 20% and they can easily touch this benchmark as they are providing full information about the product and the benefits of Microsoft band. Nowadays people are very much intelligent and nobody is having free time to waste their energy on some small issues like heart rate monitor, accessing mails and maps, alarm clock and etc. These all features are included in Microsoft band itself and even it can be used for health conscious people and as life style equipment. (Cogan ,2015).
Microsoft band is basically a brand leader in smart wearable technology and having several features which are very much attractive and useful for its users like it comes with sensors and can be connected with any smart phone OS. It also provides help for some fitness and health conscious and moreover it can help for an alarm in a digital clock and people can access emails and maps also. So, with the dual functions and lifestyle parameter it is really a product which is growing very fast within its market overall. Microsoft band is basically an inventive technology which people love because they are very much conscious about their health and fitness. (Lein ,2014)
Bold, B 2014, 'Marketing strategies and marketing mix',Microsoft Band steers tech giant into wearables market.
Cogan, A 2015, 'Monitoring and control of Microsoft band',The Microsoft Band 2 user experience: who would have thought sleep could be so interesting?.
Jurevicius, O 2013, 'Opportunities and issues statement', SWOT analysis of Microsoft band.
Lein, A 2014, 'Conclusion of Microsoft band', Microsoft band review.
Munuswamy, S 2016, 'Introduction of Microsoft band',Introduction to microsoft band.
Sterling, G 2014, 'Marketing strategies and marketing mix',Microsoft Band: Cross-Platform Wearable With Cortana Baked In.
Thurrott, P 2016, 'Budget/Profitability analysis', Microsoft band 2.
Yuwono, J 2014, 'Marketing strategis and marketing mix', Microsoft’s wearable strategy makes more sense than I thought.
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