Question

how Investing in Advancing Technologies and Resources will help Fitbits to be on top of its competitors? pros and cons?

Answer 1

Fitbits is a company that produces technology and innovation driven health products. In this regard, it is very important for the Fitbits company to stay ahead of the competitors and hold a competitive advantage. It is only possible when Fitbits invest in advanced technologies. With such investments, Fitbits can find new innovative findings and products that can serve the needs of the health conscious target audience. These products will be patented and copyrighted under the name of the Fitbits. As a result, most of the audience will start buying the Fitbits products and develop high value for the Fitbits products. It makes Fitbits to be the industry leader and it only happens with investments in advanced technologies.

The pros are building a competitive advantage in the market, attracting and serving audience with latest products and creating value and creating a blue ocean strategy and market for itself. The cons are high investment as a sunk cost, finding products that may not be suitable for the existing audience hence creation of dis-economy of scale as well as technological environment of the market not complimenting the products produced by the company.