Whoop

Marketing strategy to target a new demographic with Whoop

Transcript

1. Blake Doman, Sean Gilles, Lauren Montes, Gavin Schurr, Emma White
2. WHAT IS WHOOP? a wearable fitness tracker monitors physiological metrics 24/7 data collection & analysis to give your body recommendations
3. What does WHOOP track? Strain Recovery Sleep Wake Events Blood Pressure Heart Screener Respiratory Rate Measures HRV
4. External Environment Economic: Increasing disposable income among 45+ individuals. Technical: Demographic: Regulatory: Political: Wearable sensor accuracy improving 15% yearly. 70% of older users report willingness to use health tech devices. Compliance with HIPAA would essential for wearable data management. Aging population health prioritized in many government policies worldwide.
6. Market Analysis Customer: Fitness & Athletic Community Competition Collaborators: Context: Oura Ring Garmen Subscription Apple Watch based FitBit Biostrap Michael Phelps Rory McIlroy ND Athletics Tracking Health Metrics Company:
7. Key Ethical Focus: Data Privacy Older users are sensitive about their health data What WHOOP is doing: WHOOP gives users full control over their health data. Data is encrypted, not sold. Transparency continues to improve with clear policies.
8. Strengths Weaknesses Opportunities Threats Complex health tracking & data No display Wearable battery New markets beyond fitness Increased consumer diversity Room for new features/designs Higher price range Subscription based Competitive market (Fitbit, Apple, etc.) Concerns over privacy Inflation
9. WHAT’S NEXT? Preserve your power.
10. Business Objectives Market Share: Capture 10% premium wearble health device market by end of ‘26 Strategic Plan: Partner with healthcare providers Marketing: Shift messaging to support healthy aging by utilizing targeted campaigns
11. Business Objectives R&D: Improve user experience by understanding their value perception Rate of Growth: Increase subscribtions by 15% for end of ‘26 and increase sales by 10% in the new market Finance: Achieve 10% revenue growth (with 45+) and Improve profitabilty through subscription retention by end of ‘26. (5%)
12. How will WHOOP gain traction ? Promote on TV Retired athletes Facebook
13. ECONOMIC RISK Market Adoption Uncertainty Increased Support Costs Brand Dilution
14. Preserve your power.
16. References Whoop. (2021, August 30). Whoop raises $200 million at $3.6 billion valuation. WHOOP. https://www.whoop.com/us/en/press-center/200-million-financing-3-6-billion-valuation/ Ocain, P. byArt. (2022, January 21). Demographics as a personal factor for consumer behavior. Art Ocain: Leader. https://artocain.com/2022/01/21/demographics-as-a-personal-factor-for-consumer-behavior/ Schaumburg, F., Becker, K., & Gatermann, S. G. (2018, March 16). Guidelines for interpretation required. Deutsches Arzteblatt international. https://pmc.ncbi.nlm.nih.gov/articles/PMC5913585/ Health | OECD. (n.d.). https://www.oecd.org/en/topics/health.html World Health Organization. (n.d.). Who’s work on the UN Decade of Healthy Ageing (2021-2030). World Health Organization. https://www.who.int/initiatives/decade-of-healthy-ageing Unlock human performance & healthspan. WHOOP. (n.d.). https://www.whoop.com/us/en/