Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of Garmin analyses the brand by its strengths, weaknesses, opportunities & threats. In Garmin SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Garmin to benchmark its business & performance as compared to the competitors. Garmin is one of the leading brands in the telecom service providers sector.
The article below lists the Garmin SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Garmin SWOT Analysis:
For Garmin, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
The strengths of Garmin looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Garmin :
1. 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
2. Provides efficient after sales services and superior customer support in areas like repairs, technical support and warranties services
3. Manufacturing their products in-house reduces mishaps and ensures quality products
4. The company owns its manufacturing facilities in Taiwan and receives tax incentives from the Taiwanese government.
5.Cheap labor allows the company to keep its operating costs low
6.Garmin produces quality products that are ISO certified and further approved for use in aviation by the FAA
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Garmin SWOT Analysis:
1.GPS satellites are monitored and controlled by the U.S Department of Defense, potentially limiting sales to certain clients
2. Endures a low sales cycle
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Garmin SWOT Analysis:
1.Brand awareness drive to increase visibility
2. The use of GPS technology within varying age groups is rising
3. Garmin could capitalize/invest in the technology of applications such as Google-Maps
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Garmin are as mentioned:
1.Increase of new entrants offering personal navigation devices
2. GPS satellites maybecome inoperable due to decaying gravity
3. There is a risk of market saturation of GPS devices
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Garmin:
1.TomTom 2.L-3 Avionics Systems 3.Rockwell Collins
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.
Products in aviation, marine, outdoor, fitness, automatic, mobile, and OEM markets
Telecom Companies, IT firms, Construction companies, Internet service providers , Consumer electronics, mobile telephony services
Creating navigation and communication devices that enrich their customer’s lives
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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