This paper is going to analyze the most creative project of this time on Pebble Watch. The analysis of this project will be continued with the help of five success factors that lead Pebble Watch to succeed in the market. That makes Pebble the most successful smartwatch company in the market.
Pebble Watch was the first smart watch that was commercially successful before it discontinued in the year 2016. The operating system that was used by Pebble was FreeRTOS kernel that can easily communicate with iOS as well as Android with the help of Bluetooth (Razaque, 2016). The internal memory space of this smartwatch was 128 KB along with the 1.26-inch display. The battery backup of this watch was seven days and they were water resistance also. In the year 2012, Pebble Corporation was raised by 10.3 million dollars in the course of a Kickstarter campaign. Then in the year 2013, they began to sold Pebble watches, which was completely sold in just five days and in the year 2014, they sold up to one million of a smartwatch. Pebble in the year 2015, launched their second generation smartwatch that is Pebble Time. Then in the year 2016 on 24th May, they launched their third generation Pebble product of Pebble 2. Pebble was facing a huge debt and at this time Fitbit took over the company along with their software. This is the main reason that in the year 2016 on 7th December Pebble Watch Corporation were closed forever.
Figure: Pebble Watch
Five Success Factors
The company Pebble created one of the most innovated products in the world of smartphones (Lyons, 2016). People were very much used to smartphones but this totally changed when a smartwatch came into a market that has the ability to manage phone calls, forward notification, messages and many more things that a smartphone is able to do. Pebble also succeeds because they were the first smartwatch company without any competitors.
The 4Ps of Innovation are:
Product Innovation: The product, smartwatch was the most innovated product of the year 2012.
Process Innovation: They have a Kickstarter campaign which helps them to attract more and more customers. This was the reason for success that they crowdfunded and millions of people gave pre order for their smartwatch.
Position Innovation: They launched their product at a perfect time when the trend of smartwatch was just started and people were very much familiar with smartphones which make this smartwatch more successful in a market (Riedl, 2013).
Paradigm Innovation: The thinking of Pebble is to bring something new to the market that will make work easier for people. They do not have to use their smartphones all the time but they can perform their task with this smartwatch.
Opportunity Recognition is the most important for any company to be successful in the market. Innovation is a process that helps the company to recognize their opportunity and Pebble saw this opportunity in the land of technology and innovation (Xu, 2015). When smartphones are very much popular people wanted something new and innovative in technological world which is the reason for growing up of a smartwatch. They were able to capture market very easily because people were in the trend of using new and advanced technology for their daily purposes. If this smartwatch was introduced in a market before then smartphones then people would not have such a craze for this device. Pebble Corporation recognizes the needs of people that will make their work easier and every time they do not need to use their smartphones for calling and some other purpose. Pebble was able to recognize this opportunity of the smartwatch in the market. It is important to recognize the opportunity in the market but later in the year 2016, Pebble lose their market opportunity as people were not that much intended to get more than one smartwatch (Al-Naffakh, 2016). They lose their market opportunity and were unable to capture it again.
Bottom Line Drivers: The smartwatch and the trend of wearable technology are the main reason that drives Pebble watch project. They launched at the perfect time in a market so that people are able to get something innovative in the world of technology (Chuah, 2016). Their design, color, materials, operating system and features are all providing great value to the smartwatch. They have one and only bottom line driver for their company is the innovative smartwatch in the commercial world where people want to experience new and innovative technology that will make their work easier.
Value-Add: With the launch of Pebble watch the Corporation saw craze in people about their smartwatch. This can be said from company’s reputation that within five days the entire production of smartwatch in the year 2012 was sold and people were eager to provide pre order for their smartwatch. They sold more than one million smartwatches in 2013. Being the first smartwatch device they were leading in the market with their innovative products. They were having much profit for their business and in the consecutive year of 2015 and 2016, they launched their two new innovative products that are Pebble time and Pebble 2.
The project Pebble Watch was meant for the customers, the CEO of Pebble wanted to invent something that will help people while driving or doing some other work. He invented a wearable device that has the ability to take calls along with the other interesting feature (Kracheel, 2014). This device not only shows time but they are capable of doing many functions like the smartphones. Pebble gave more importance to their customers and their needs; they listen to the feedback of their consumers and provided the best product in a market. Pebble at the beginning they did not want to make their smartwatch water resistance but after getting feedback from their customers about the water resistance feature, they delayed their product launch date and provided that feature. It is very much important for any company to listen to their customers because they are the one who will be using these products. If the customers are not satisfied then great products can also fail in a market (Dmitrienko, 2015). This was the positive point for Pebble that they always listen to their customer's feedback and for that; they are able to capture the market that people loves the most.
Pebble watch is a smartwatch that provided the best design with superior quality of hardware and software. The brand image along with innovative technology and all other resources of Pebble Corporation make this Pebble Watch the most successful smartwatch of the century (?rsand, 2015). Their services were also excellent as people were very much satisfied with their products and features that were provided in their products. The power of stakeholders who manage the resources of Pebble Watch have in them is to manage the entire production and marketing of the products. The employees and the management team of Pebble along with the marketing team were excellent that help Pebble watches to stand in the market and become successful. The operating system of this smartwatch was excellent as these help customers to connect with both iOS and Android. Pebble rises their funding with the help of Kickstarter which is a crowdfunding platform to raise fund. This company is considering as the second highest project of a fund raiser in Kickstarter (Houben, & Marquardt, 2015). This fund was the main thing that helps Pebble to success very quickly in the market. All their resources are so good and well planned that no one has the ability to stop Pebble success in the commercial world
Pebble is not just a name it was the beginning of wearable device technology, they are the very first company who launched such an innovative product in the market. Besides the success and fame of this Pebble watch, they were unable to survive in the market because they were failing out of money and along with that people were not ready to keep more than one wearable device with them. The reason for failure was reasonable as people love this innovative technology; they were also facing some problems like watching a time or maintain this device. Though, Pebble failed in the market their product was the best and the trend setter products. Within a very short period of time, they have sold more than two millions of smartwatch which is a really big figure for this project Pebble watch.
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