Wednesday, January 16, 2019
GARMIN Follow the Leader Garmin Global spot Systems (GPS), began as a brainstorming session between a hardly a(prenominal) engineers playing a game of cards and has grown into a b exclusively-shaped technological phenomenon since its inception in 1989. Starting with only a fistful of employees, Garmin has expanded its work force consisting of more than 7000 employees by 2007, all consecrated to the same objective To create navigation and communication devices that can enrich our customers lives.As a group, the decision to choose Garmin was rather easy. We wanted to subscribe to a company or yield that is relatively new in the consumers eye that can provide a distinct need in a market that is not over saturated by competitors. Garmin is considered an trailblazer in the GPS market and doing a study based on a well known, high quality product, provided interest between our groups.Garmin focuses on comprehend lifestyles of their consumers, whether it be Automotive helping people reach their destination with ease, leatherneck supplying essential charts and data, Aviation, Fitness, Outdoor Recreation, to the ever evolving Wireless Smart strait Applications, first time drug users readily realize the cache of having a bundle up and portable unit, making their journey, wherever it may be more enjoyable. grocery store sh atomic number 18ation Garmin is making strong progress in gaining the opportunity to come a wide range of people in many antithetical situations, whether it be driving across country on vacation, going for bring up in a remote Mountain Park, setting Sail on the Pacific Ocean, or even going for a nice cps ride through a park.The diversity of the GPS system has in reality taken off in the past few years with the advancement of technology, which has really benefited Garmin in targeting Whom we serve Looking at the Segmentation Basis we move over reviewed (demographic, Geographic, Psychographic, and Behavioral) we can determine how Garm in Markets their broad range of products in the open market. Demographic As a company, Garmin has a fairly broad Demographic Segment because of their multiple products.Garmin would segment its buyers into a non gender bias, over the age of 16, with all family life cycles included, with an average income, focusing on the baby boomers and the Y propagation because of its Technological advancement. Geographic Garmin markets itself in definite regions around the world. These regions are conglutination America, Europe, Australia/New Zealand, Asia, and the Middle East. Garmin has a process which they call vertical integration, which allows Garmin to aver a high level of quality and respond more quickly to the ever-changing marketplace.This is especially important in their Company Offices located in Kansas City, USA, Southampton, UK, and Sijhih, Taiwan. Psychographic When trying to divide itself into different market groups, there are certain classes, lifestyles, and personalities G armin would generally market. As a Social Class, Middle Class and up would be the main target, Lifestyles Achievers would be the group that generally uses the Garmin product, due to their challenging personalities.Behavioural The behavioural segment basis is probably the most pertinent when looking at whom to market their product to. Convenience is a ray of light that helps Garmin sell their product to provide them with accurate, thorough learning, providing customer loyalty and systematic use. A Garmin user would have a positive attitude toward the product as it is making there busy lives easier. Garmin is a leading, worldwide supplier of navigation, communications and information devices, most of which are enabled by Global Positioning System (GPS) technology.Garmin designs, develops, manufactures and markets a diverse family of hand-held, portable and fixed-mount GPS-enabled products and other navigation, communications and information products for the automotive/mobile, o utdoor/fitness, marine, and general aviation markets. Garmin 2007 Annual Report to Shareholders. This narrative proves that the R &038 D department for Garmin is on the right track, assuring the Shareholders they are targeting the correct markets in todays world. Garmin has developed a singular style that takes a systematic approach to R&038D.This helps them close the creation gap with its competitors. They have been able to do this by partnering their manufacturing and engineering teams, and consolidation their product development teams in a multidisciplinary fashion to work on newly approved designs. Garmin has achieved a market position and a register of consistent growth in revenues and profits by offering ergonomically designed, user friendly products with innovative features and designs covering a range of applications and price points.