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Case Study: Matrices Assignment
Chris LaFontsee
School of Business, Liberty University
BUSI 690: Policy and Strategy in Global Competition
Dr. Elizabeth Koss
September 21, 2025
Introduction
The home fitness industry underwent a transformation through Peloton's innovative
approach which combines modern technology with interactive workout content delivered straight
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to customers' home spaces. The company Peloton emerged as a pioneering force in connected
fitness when John Foley established it in 2012. The world needed the innovative combination of
premium equipment with streaming workout classes that Peloton delivered to market. The home
fitness market surge during COVID-19 lockdowns found Peloton perfectly positioned for
success. The company achieved its first quarterly profit during fiscal 2020 when sales increased
by an astonishing 172% (Valinsky 2020). However, Peloton’s rapid growth proved to be
unstainable. As pandemic restrictions lifted and gyms reopened, Peloton saw a shift in consumer
behavior forcing Peloton to experience a dramatic fallout. Their equipment sales rapidly
declined, and stock values plummeted forcing Peloton to make essential strategic changes to
remain operational. Despite its challenges, Peloton remains a major force in the wellness
industry due to its innovative approaches, introduction of new products and partnerships which
help the company weather market changes.
Mission Statement
Mission statements serve as the foundational cornerstone of an organization’s purpose. It
communicates the organization's present purpose and answers who they are, what they do and
why they are here (Thompson, 2025). These statements serve to help organizations create their
unique identity while establishing market distinction and uniting all employees, partners, and
customers through a common vision.
Existing Mission, Objectives and Strategies
The current mission of Peloton is to bring immersive and challenging workouts into
people's lives in a more accessible, affordable and efficient way, while using a combination of
technology, content and best-in-class instructors to empower our million-strong community
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through fitness (Peloton, 2025). This mission emphasizes the company's commitment to
transforming the fitness landscape by providing expert instruction and world-class content to
create impactful and entertaining workout experiences for members at any stage in their journey,
fostering social connections and global engagement.
Recently appointed CEO Peter Stern outlined four key objectives to drive Peloton’s
sustainable growth and member retention. The first objective is to improve member outcomes by
delivering better equipment, software and instructions for members. Secondly, meeting members
everywhere, including where they shop and workout, to reach new members. Thirdly, creating
members for life by deepening connections with and among members. Lastly, operating with
business excellence, specifically optimizing pricing and promotions (SGB Media, 2025).
To achieve and maintain these objectives, Peloton is implementing a three-phase
turnaround strategy emphasizing cost alignment, sustainable operations, and profitable growth
per Citi’s 2025 Global Technology, Medica and Telecommunications Conference (Investing.com,
2025). With new leadership roles established in marketing, communications, operations and
information technology, Peloton is projecting enhancements to both its efficiency and
engagement. Phase one of Peloton’s turnaround strategy is focused on cost alignment and
restructuring, shifting from a higher fixed cost operation model to a variable model,
appropriately reflecting the size of their business. This included a $1.35 billion dollar debt
refinancing. Phase two is centered around sustainable operations with investments in growth.
Phase three seeks a return to growth with a derisked balance sheet that aims to maximize
shareholder value. Peloton is seeing a consumer shift from focus on lifespan, to a focus on health
span. In delivering shareholder value, Peloton plans to deepen their connection with consumers
by expanding into areas such as strength training, sleep, nutrition and mental well-being.
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New Mission Statement
At Peloton, we’re passionate about providing innovative technology-based fitness
solutions for (1) fitness enthusiasts, health focused individuals and community-oriented members
(3) across the world (2) through connected fitness equipment, streaming workouts and digital
content. Our company provides world-class exercise experiences through (4) advanced AI
technology and interactive platforms which deliver personalized workouts for physical and
mental wellness. The company (5) pursues sustainable growth and financial stability (6) through
its core values (8) of inclusivity and passion and excellence while maintaining ethical
community engagement. The company (7) builds active fitness communities through its
exceptional content and user-friendly interface which represents its main competitive advantage.
The company dedicates itself to social responsibility through health equity promotion and
environmental awareness while (9) recognizing employees as vital forces for innovation and
member satisfaction.
Existing Business Model
Peloton operates a hybrid business model centered around premium connected fitness
equipment, such as bikes and treadmills, and subscription-based digital content (Johnston, 2023).
The company generates revenue from one-time hardware sales which accounted for 33% of Q4
FY2025 revenue at $198.6 million and from subscription services which generated 67% of
revenue at $408.3 million through All-Access $39.99/monthly and Digital $12.99/monthly
membership plans (Peloton, 2025). The company serves fitness enthusiasts and professionals
through its platform which provides instructor-led cycling, running and yoga classes with AI-
powered features and community tools that include leaderboards. The company generated $2.49
billion in revenue during FY2025 while achieving Q4 profitability of $21.6 million net income
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and producing $320 million in free cash flow through cost optimization and inventory
management (Peloton, 2025). Under new CEO Peter Stern, appointed in January 2025, Peloton
continues to develop its holistic wellness platform by adding strength, sleep and recovery
content. Peloton distributes its equipment and products through their website, showrooms, and
third-party retailers, while operating a secondary refurbished marketplace. The company
maintains strong brand loyalty and high subscription margins at 71.9% but faces difficulties from
subscriber decline at 6% (2.80 million connected fitness users) with expensive equipment costs
and market competition from gyms and new startups (Peloton, 2025). Growth opportunities
which include global market entry, corporate partnerships and virtual reality technology
integration but faces two main risks from economic conditions and regulatory compliance.
Peloton maintains growth potential through subscription-based services, cost optimization and
innovative content delivery, provided it handles market competition and economic challenges
successfully.
SWOT Matrix and Analysis
Strengths
The strength of an organization is described as something the organization is good that
enhances its competitiveness in the marketplace (Thompson, 2025). In a SWOT analysis,
strengths are the internal, positive attributes and capabilities that give an organization a
competitive advantage in its marketplace.
Peloton operates through a solid subscription-based system for its product offerings. The
company depends on its strong subscription revenue to achieve financial longevity over time.
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The company experienced a minor revenue drop from $1708.7 million in 2024 to $1673.7
million in 2025, but its consumer retention rate remains at 92% (Gurufocus, 2025).
Peloton continues to dominate the interactive fitness market through its position. The
company provides users with customized workout experience through its innovative technology
platform which includes Peloton Bike and Bike+ products. The core value of innovation drives
Peloton's brand identity and shapes the development of new products (Gurufocus, 2025).
Peloton continues to demonstrate a strong brand loyalty and community engagement with
over 6.4 million members enrolled on their platform. Of these, 3 million people are subscribed to
Peloton’s connected fitness membership resulting in a quarterly revenue of $743.6 million (Dean,
2025).
Peloton maintains a diversified revenue stream. Revenue is generated from various
sources such as equipment sales, subscription fees and apparel sales. This diversification ensures
financial stability and helps mitigate risk (Strategystory, 2024).
Peloton’s tiered membership platform offers access to both live and on-demand classes,
offering flexibility to meet its user’s diverse needs. This dual offering provides a community
driven experience tailored to its members’ preferences (Peloton, 2025).
Peloton maintains a strong presence in key markets outside of the United States in the
United Kingdom, Germany and Australia. International revenue accounted for $247.8 million in
2023 (Peloton, 2024).
Peloton products can be purchased through its 123 showrooms worldwide and emerging
micro-store showrooms or online via the Peloton website and through Amazon’s storefront for
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delivery. Additionally, consumers can purchase “Peloton Repowered” through the secondary
marketplace for certified pre-owned equipment at reduced prices (Weicher, 2025).
Peloton’s corporate wellness partnerships drive growth by providing subsidized access to
its platform and equipment for employees of enrolled organizations. Enrolled employees
reported an 87% improvement in meeting personal goals and 65% better mental health outcomes.
These collaborations generated $62.3 million in revenue in 2023, thus contributing to revenue
stability (Peloton, 2025).
Weaknesses
A weakness is something a company is lacking, does poorly, or a condition that puts the
organization at a disadvantage within its marketplace (Thompson, 2025). In a SWOT analysis,
weaknesses are the internal limitations or shortcomings that hinder an organization’s
performance or competitiveness in its market.
Peloton has shown progress but continues to report net losses during the last three fiscal
years according to Gurufocus (2025). The company generated a net loss of $118.9 million during
2025. The company needs to implement more operational efficiencies to sustain its financial
stability after its financial restructuring efforts.
As of today, a new Peloton Bike+ retails at $2495 (Peloton, 2025). Amid the pandemics
repercussions and rising inflation, consumers are faced with economic uncertainty thus becoming
increasingly cautious over their financial spending. Peloton’s high equipment cost has led to a
reduction in equipment sales and subscriptions.
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Additionally, Peloton is faced with a declining subscriber base. Overall memberships
have declined by 8%, Paid Connect Fitness subscriptions have declined by 6% and paid app
subscribers have declined by 15% for their third quarter of fiscal 2025 (Tronco, 2025).
Peloton relies on a limited number of suppliers and manufacturers for its Connected
Fitness Products. Limited suppliers could lead to disruptions in production which could impact
Peloton’s ability to meet consumer demands (Gurufocus, 2025).
Peloton’s current core offerings are centered around cycling and running, with each
having the choice of two models. While Peloton offers a range of fitness disciplines, limited
equipment choices may not appeal to consumers seeking a comprehensive range of options
(Strategystory, 2024).
Peloton previously utilized fixed model structure no longer aligns with the current size of
its business. Peloton announced that it plans to reduce its annual run-rate expenses by more than
$200 million by end of fiscal year 2025 (Peloton, 2025). In doing so, Peloton’s global headcount
must be reduced by 15%, impacting the jobs of roughly 400 team members and retail showrooms
must continue to be reduced.
During the pandemic, Peloton faced significant inventory management challenges,
initially struggling to meet a surge in demand, followed by a dramatic post-COVID shift that left
it with a massive surplus. This oversupply has led to a shareholder lawsuit alleging that the
company misled investors about weakening consumer demand and its ballooning inventory, with
one court recently reviving certain claims in the case (Stempel, 2025).
Peloton experienced major executive changes between May 2024 and January 2025
which created strategic challenges for the organization during its essential restructuring phase.
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The company experienced leadership instability when CEO Barry McCarthy left in May 2024
followed by a brief co-CEO leadership before Peter Stern took over as permanent CEO in
January 2025 (Reuters, 2025).
Peloton operates its business across five different countries at present. The United States
recognizes Peloton as a well-known brand, but the company maintains minimal visibility across
other markets. The restricted global brand presence of Peloton makes it vulnerable to market
saturation in its home territory while reducing its ability to expand revenue streams.
Opportunities
Market opportunities play a pivotal role in shaping a company’s strategy (Thompson,
2025). In a SWOT analysis, opportunities are external factors or trends that an organization can
leverage to enhance its growth or competitive position in that market.
Peloton's strategy for expanding into adjacent Western European countries leverages
existing market knowledge and infrastructure from its operations in the UK and Germany. This is
being pursued as a growth opportunity byKutilizing partnerships with third-party retailers like
Amazon and Sport-Tiedje to efficiently distribute products (Weicher, 2023).
Peloton has expanded its product range beyond its core bikes and treadmills into
wearables and rowing machines. To further create immersive and interactive fitness experiences,
the company is also exploring AR/VR integrations, including gaming-inspired workouts
(Edrawsoft, 2025).
PelotonKhas an opportunity to secure corporate and hospitality partnerships by leveraging
the expanding enterprise wellness market. These partnerships can equip office and hotel gyms
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with Peloton hardware, offer employees and guests subsidized access to its digital content, and
provide custom marketing resources to promote the amenity (Rehfeldt, 2023).
Peloton has shifted its brand identity to become a wellness company which now provides
diverse content beyond its original focus on cardio machines. Peloton now focuses on strength
training and stress management and sleep and nutrition as part of its new strategy which targets
complete wellness instead of intense exercise (Pymnts, 2025).
Peloton has expanded beyond its original cycling focus, with strength training now the
second-most popular content category among users. In running,Kpartnerships with major events
like the New York City Marathon have helped boost participation through immersive scenic runs
and specialized training content (Weicher, 2024.)
The strategic plan of Peloton to increase in-person events tenfold until 2027 will enable
the company to establish community ties while generating additional revenue. The company has
already started its path toward this goal by increasing event numbers threefold in 2025 to create
instructor-led connections which enhance user engagement and lead to new app and equipment
sales (Weicher, 2025).
The AI capabilities of Peloton enable users to receive customized workout plans and
recommendation services that enhance their commitment to the platform through personalized
content delivery. The Pace Target classes within Peloton show this capability through their speed
range adjustments which match individual fitness levels to create more effective workouts
(Peloton, 2025).
The successful restructuring of Peloton generated more than $320 million in free cash
flow during fiscal year 2025 which the company used to support its strategic growth plans. The
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company achieved operational efficiency through cost reduction which allowed it to redirect
funds toward marketing initiatives and physical store expansion from one to ten micro-store
locations (Peloton, 2025).
Peloton should leverage the growing interest in health by developing its platform into a
complete wellness system which adds strength training and sleep and nutrition content. The
company can reach new customers through its hybrid fitness approach which provides
customized on-demand workouts accessible through the app for users who want to exercise at
home and in the gym or outdoors (Peloton, 2025).
Threats
Threats are external factors that can inhibit an organization’s ability to gain profit or
competitive well-being (Thompson, 2025). These factors can stem from lower cost competitors,
better technology or unfavorable market shifts. In a SWOT analysis, threats enable organizations
to proactively develop strategies to help mitigate negative impacts.
The market position of Peloton faces danger because Echelon and iFit provide lower-cost
alternatives that compete directly with their products. The lower prices of their equipment and
subscription services enable these competitors to challenge Peloton's high-end pricing structure
and diminish its market leadership in connected fitness (Investing.com, 2025).
The economic decline poses a threat to Peloton because its high-end exercise equipment
falls under non-essential or discretionary spending which people tend to delay or cancel when
facing financial difficulties. The company faces equipment sales and subscriber base reductions
which have led Peloton to implement major cost reduction strategies through employee
dismissals and business process optimization (Investing.com, 2025).
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The business model of Peloton faces substantial danger because consumers have started
to move back to physical gyms after the pandemic while adopting hybrid fitness approaches. The
shift in consumer behavior toward physical gyms endangers Peloton's equipment sales and
membership growth which reached its peak during lockdowns when gyms remained shut (Khan
& Bangera, 2024).
Peloton's historical dependence on overseas manufacturing bases in Taiwan created
substantial supply chain risks because it limited their production capabilities. The COVID-19
pandemic revealed these weaknesses because worldwide shipping delays and factory closures
caused major production holdups and price increases which harmed Peloton's ability to fulfill its
rapidly expanding customer base (Elting, 2022).
The security risks of Peloton devices stem from two main vulnerabilities which include
the enabled USB debugging feature that enables attackers to install malware and access user data
when they gain physical access to the device. The unauthorized access enables attackers to steal
sensitive user information while also allowing them to monitor users through the device's camera
and microphone (Arghire, 2023).
The Tread+ treadmill from Peloton became the subject of major regulatory investigations
because it caused 39 reported incidents and resulted in a child fatality. The company's initial non-
cooperation with the U.S. Consumer Product Safety Commission (CPSC) and delayed recall
process created a major regulatory crisis that endangered consumer trust (BBC, 2021).
The fitness technology market advances at a fast pace which threatens Peloton because
new VR competitors could make its current high-end equipment outdated. The market transition
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toward affordable and dynamic virtual reality experiences threatens to make Peloton's high-end
stationary equipment less appealing to users (Fernfort, 2025).
Peloton's IP has been weakened by both litigation and successful challenges to its patents,
which has invited copycat products from rivals. For example, after Peloton lost a patent battle
against Echelon, its on-demand fitness class patents were deemed "obvious inventions," leaving
that technology vulnerable to duplication (EdrawMax, 2025).
Peloton is facing the threat of market saturation in its core business, as sales growth slows
after the surge in demand during the COVID-19 pandemic. As the initial wave of high-end
consumer demand for its bikes and treadmills has been largely met, the company is experiencing
declining hardware sales and a shrinking base of connected fitness subscribers (Investing.com,
2025).
TOWS Matrix
The TOWS matrix serves as a strategic planning instrument which builds upon SWOT
analysis by uniting organizational internal elements with external market factors to create
implementable strategies. The TOWS matrix goes beyond SWOT analysis by developing
strategic combinations which link organizational strengths to external opportunities (SO
strategies) and organizational weaknesses to external threats (WT strategies) for better decision-
making. The TOWS matrix enables organizations to transform SWOT analysis findings into
operational strategies which help Peloton and other companies link their internal strengths to
market opportunities while managing external threats and risks.
The TOWS matrix enables Peloton to use its Strength-Opportunity (SO) strategies by
leveraging brand loyalty and technological capabilities for digital fitness market expansion. The
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company should use its AI personalization capabilities and strong brand identity to create
wellness applications that combine mental health support with nutrition guidance because
consumers increasingly want complete fitness solutions. The company can use multilingual AI
features and localized subscription models to expand globally into Canada and emerging markets
while building on its technological leadership position. The company achieves market leadership
through its price-sensitive consumer acquisition strategy which includes Peloton Repowered and
app-only subscriptions with social features that maintain user engagement.
The TOWS matrix enables Peloton to use its Strength-Threat (ST) strategies for external
risk management through its powerful brand and technological capabilities and financial
capabilities. The company maintains financial stability through its $324 million free cash flow
while focusing on high-margin subscription services instead of hardware sales to protect against
economic challenges like tariffs and inflation. The implementation of advanced technology for
safety and compliance protocol enhancement reduces regulatory threats and product recall risks
which safeguard the brand image. The combination of physical community activities with digital
content helps Peloton fight against gym membership trends while keeping members active and
defending its market position against competition.
Peloton can use its Weakness-Opportunity (WO) strategies in the TOWS matrix to tackle
internal problems while seizing external market opportunities. The company can reduce
hardware sales decline and lower customer departure through its plan to expand app-only
subscriptions which reached 552,000 paid users in FY2025 while generating new revenue
streams. The company uses its $200 million annual cost savings to create affordable fitness
solutions through Peloton Repowered and micro-stores which makes exercise accessible to more
people. The company creates new revenue streams through its low-cost running and strength
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programs which operate on the app platform to serve event-based users and minimize customer
turnover while meeting the expanding market need for budget-friendly fitness options. The
company uses these strategies to convert its equipment cost dependency into business
development opportunities that enhance market stability.
Peloton should implement Weakness-Threat (WT) strategies from the TOWS matrix to
defend against external threats while minimizing its existing vulnerabilities in the evolving
fitness industry. The company can reduce legal risks in its new markets by implementing strong
data protection and safety protocols which will help it comply with regulations. The company
should allocate resources to develop scalable software platforms that integrate AI and VR/AR
technology to protect against emerging technology threats and decrease dependence on
expensive hardware products. The combination of flexible app-based content with in-person
community events through hybrid models enables Peloton to maintain member retention and
fight against customer defects to traditional fitness centers thus enhancing its market position.
Group Map
The strategic management tool known as a group map helps organizations visualize and
study industry competitors by placing similar businesses with shared models and characteristics
into two-dimensional clusters for competitive analysis. The tool enables organizations to gain
practical industry insights through competitor benchmarking and market gap identification and
strategy barrier assessment and rivalry intensity measurement for better positioning and risk
management.
The Group Map evaluates Peloton Interactive Inc. as a single entity because its business
model unites its fitness equipment products with digital content subscriptions and commercial
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solutions through Precor under one strategic framework for complete fitness immersion. The
analysis of the entire company structure reveals how its different components work together to
create the market position of Peloton. The Group Map uses Price Accessibility (x-axis: low to
high) to show customer entry barriers because Peloton operates at premium prices yet offers
Peloton Repowered as an affordable option. The y-axis evaluates Technology/Content
Sophistication through measurements of both technological advancement and content excellence
including AI personalization and live classes and community features which define the
competitive fitness industry. The September 2025 market position of Peloton becomes clear
through the placement of its main competitors on this map.
Competitive Forces Analysis
The PESTEL analysis serves as a strategic tool which helps organizations evaluate the
importance of six major macro-environmental elements. The PESTEL framework consists of six
elements which include Political factors and Economic elements and Social aspects and
Technological developments and Environmental considerations and Legal/Regulatory elements
(Thompson, 2025). The systematic evaluation of these factors helps Peloton and similar
businesses discover digital fitness opportunities through technology while managing regulatory
requirements and economic challenges including inflation. The analysis provides organizations
with the ability to make strategic decisions in advance which helps them detect market patterns
and adjust to changing circumstances while staying competitive in fast-moving markets.
The main political elements affecting Peloton stem from trade regulations backed by
governments which impact supply chain operations and market entry opportunities. The new
U.S. tariffs which started in 2025 have the potential to decrease cash flow and make hardware
production more expensive because of international sourcing. It is reported that more than two-
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thirds of companies are actively preparing for the impact of tariffs (Mehta, 2025). While Peloton
produces some of their Precor products locally, many of their products are produced in Taiwan
and China making Peloton subject to the 50% tariff on aluminum content (Weicher, 2025). It is
estimated that Peloton’s tariff exposure is estimated to be $65 million, but Peloton remains
committed to achieving $200 in free cash flow for fiscal year 2026 (Weicher, 2025).
The hardware sales of Peloton face ongoing challenges from economic conditions, but its
subscription service maintains high profitability. The United States experienced 2.9% inflation
during 2025 which has reduced consumer spending power. Despite inflation, Peloton achieved
$2.8 billion in connected fitness subscriptions and paid app subscriptions reached 552,000 users,
both figures marked ahead of target (Rehfeldt, 2025).
The changing social values regarding wellness and life balance create new business
opportunities for Peloton through its community-based approach. Peloton’s Wellbeing for Life
initiative has reached more than 400,000 individuals since its adoption in 2021 (Peloton, 2024).
Peloton presently supports 16 community partners, hoping to further bridge the gap of inequities
in health and wellness.
The competitive advantage of Peloton depends heavily on its technological progress, but
this also makes the company more vulnerable to disruptions from competitors. Peloton is focused
on leveraging AI to provide its consumers with personalized experience, already enrolling
600,000 subscribers in personalized fitness plans. Peloton has already made strides to connect its
users with existing fitness platforms such as Google Fitbit, Apple Health and Garmin (Smith,
2025). Peloton analyzes this information to understand its consumers’ specific trends and adjust
its recommendations tailoring a unique experience for everyone.
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The growing importance of sustainability affects Peloton because customers and
regulatory bodies now expect environmentally friendly practices which impact both brand
reputation and operational methods. Peloton has joined the Science Based Targets initiative to
meet its 2025 emission targets and expanded its circularity efforts through refurbished product
programs and repair services to extend product lifecycles (Peloton, 2025).
The digital expansion of Peloton faces continuous legal threats which stem from
intellectual property disputes, consumer safety concerns and data protection violations. In 2020,
Peloton was sued by various music publishers over songs included within their workout videos.
Significant efforts must be made to ensure Peloton stays current on securing its sync rights given
they utilize music based upon popularity (Durkin, 2020). The company maintains essential
product recall procedures and safety protocols to meet new market regulations while
implementing stronger compliance system requirements.
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QAAAKAQbGZFvO1kvphvXFfyy_FezMNRIHlkdXKj61oNdjsPMwdykagI3hrGQkEpn5QNQo
poNr32NTXasrswDx9oOM-34TGv3boOqDQ0tf95vBaIRL9Wsdy8bd0eTwqmWL-
UQiw8Y8lwFl6iAKa9wd6xY7G4Yv6jMDIWe3O91_Yfv9MQ
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Appendix A
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Appendix B
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Appendix C
