Garmin

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GARMIN – Follow the Leader

Garmin Global Positioning System’s (GPS), began as a brainstorming session between a few engineers playing a game of cards and has grown into a global technological phenomenon since its inception in 1989. Starting with only a handful of employees, Garmin has expanded its work force consisting of more than 7000 employees by 2007, all dedicated 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 select a company or product 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 innovator in the GPS market and doing a study based on a well known, high quality product, provided interest between our groups.

Garmin focuses on embracing lifestyles of their consumers, whether it be Automotive; helping people reach their destination with ease, Marine; supplying essential charts and data, Aviation, Fitness, Outdoor Recreation, to the ever evolving Wireless Smart Phone Applications, first time users quickly realize the cache of having a compact and portable unit, making their journey, wherever it may be more enjoyable.

Market Segmentation

Garmin is making strong progress in gaining the opportunity to serve a wide range of people in many different situations, whether it be driving across country on vacation, going for hike in a remote Mountain Park, setting Sail on the Pacific Ocean, or even going for a nice bike ride through a park. The diversity of the GPS system has really 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 have reviewed (Demographic, Geographic, Psychographic, and Behavioral) we can determine how Garmin Markets their broad range of products in the open market.

Demographic...
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