Garmin SWOT Analysis
Here is a detailed SWOT analysis of Garmin covering strengths, weaknesses, opportunities and threats.
Garmin Strengths
- Core competency of Garmin is its ability to leverage GPS technologies and in-house manufacturing to create trendy but useful products for high growth markets
- Provides efficient after sales services and superior customer support in areas like repairs, technical support and warranties services
- Manufacturing their products in-house reduces mishaps and ensures quality products
- The company owns its manufacturing facilities in Taiwan and receives tax incentives from the Taiwanese government.
- Cheap labor allows the company to keep its operating costs low
- Garmin produces quality products that are ISO certified and further approved for use in aviation by the FAA
Above are the strengths in the SWOT Analysis of Garmin. The strengths of Garmin looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
Garmin Weaknesses
- GPS satellites are monitored and controlled by the U.S Department of Defense, potentially limiting sales to certain clients
- Endures a low sales cycle
These were the weaknesses in the Garmin SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
Garmin Opportunities
- Brand awareness drive to increase visibility
- The use of GPS technology within varying age groups is rising
- Garmin could capitalize/invest in the technology of applications such as Google-Maps
Above we covered the opportunities in Garmin SWOT Analysis. The opportunities for any brand can include prospects of future growth.
Read more about Garmin
Garmin Threats
- Increase of new entrants offering personal navigation devices
- GPS satellites maybecome inoperable due to decaying gravity
- There is a risk of market saturation of GPS devices
The threats in the SWOT Analysis of Garmin are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
Hence this concludes the Garmin SWOT analysis.
About Garmin
The table below gives the brand overview along with its target market, segmentation, positioning & USP
| Garmin Overview | |
|---|---|
| Parent Company |
Garmin Incorporated |
| Category |
Communication Equipment |
| Sector | |
| Tagline/ Slogan |
You will be lost without it |
| USP |
Garmin’s focus on continual innovation, along with a desire to meet their loyal customer’s expectations, has fueled an ever-growing list of products. |
| Garmin STP | |
| Segmentation |
Products in aviation, marine, outdoor, fitness, automatic, mobile, and OEM markets |
| Target Market |
Telecom Companies, IT firms, Construction companies, Internet service providers , Consumer electronics, mobile telephony services |
| Positioning |
Creating navigation and communication devices that enrich their customer’s lives |
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