GARMIN

about company
OVERVIEW about product
Garmin Ltd. provides
navigation,communication Garmin watches are known for
and information devices or their smart connectivity paired
application that are enabled with rugged features like GPS
by global positioning system tracking, water resistance, and
technology. The company fitness tracking.
operates through the five
segments: Automotive &
Mobile, Aviation, Marine,
Outdoor and Fitness.

GROUP 5
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1. S (Strengths ) : swot
1.The company:
+ Automation of activities.
+ Leverage GPS technologies and in-house manufacturing.
+ Quality products that are ISO certified and further approved for use in aviation.
+ Diverse Revenue models.
2.Suppliers:
+ Access to the suppliers that offer raw material at a low cost.
3.Marketing intermediaries:
+ Garmin Ltd has a strong presence on some famous social media platforms.
4.Competitors:
+ High margins compare to Communications Equipment industry's competitors.
+ Wide geographic presence.
+ Strong brand recognition.
5.Public:
+ Receives tax incentives from the Taiwanese government.
+ Cheap labor.
+ Highly skilled workforce.
6.Customers:
+ Consumers are gradually switching from traditional analog watches to smart watches.
+ The customer reviews left by Internet users are very positive.
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2. W ( Weakness ) :
1. The company:
+ Garmin Ltd has a higher employee turnover rate compared to competitors.
2.Marketing Intermediaries:
+ Insufficient budget for the marketing and promotion activities.
3. Suppliers:
+ Loyalty among suppliers is low.
4. Customers:
+ Garmin has a lower returning customer rate than the industry average.
5. Competitors:
+ Some of the competitors of Garmin are known to have greater financial, technical and
marketing sources, such as Apple, Samsung, and Tom Tom etc.
6. Publics:
+ Poor waste management practices and inability to integrate sustainability in business
operations -> Receive criticism from the environmentalists.
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3. O ( Opportunities ) : 1.Demographic:
- Growing population -> an increase in the number of potential customers.
2.Economic:
- Lower inflation rate : more stability in the market.
- Lower interest rate: expansion projects with loans at a cheaper interest rate.
3.Natural:
- Land: for hosting production units, warehouse or packaging purposes.
- Materials: tangible, easily accessed.
- Decreasing cost of transportation.
4.Technological:
- E-commerce: investing into the web platform, employing big data analytics,
opening online stores and making sales.
- Social media: promote its products, interact with customers and collect
feedback.
- Invest in the technology of applications such as Google-Maps.
5.Political:
- Tax policy: the governments’ reduction in tax rates.
- A subsidy on the sale of environmentally friendly goods in this sector.
- Trade barriers have been reduced on the import of goods.
6.Cultural
- Customers migrate to higher-end products.
- Customer preferences are fast changing.
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4. T ( Threats ) : swot
1.Demographic:
+ The new generation are less brand loyal and more open to experimentation.
2.Economic:
+ The exchange rate keeps fluctuating and this affects Garmin Ltd.
+ The rise in inflation increases the cost of production.
3.Natural:
+ The growing environmental sustainability trends act as a major threat when offered
products/services are not environment friendly.
+ The rise in prices of fuel has increased in the input costs.
4.Technological:
+ Technological developments by competitors; the presence of substitute products, which are
present via the applications of smartphones (Apple, Samsung,..) and other mobile devices.
5.Political:
+ Garmin must refer to the laws and regulations in force in each of the countries.
+ Trade Relation between US and China can affect Garmin growth plans.
6.Cultural:
+ Globalization pushes the organization to cross national boundaries and deal with cultural diversity.