BUSINESS ANALYSIS - GARMIN LTD.

Business Analysis - Garmin Ltd

form of technological advancement of current competitors or in the form of new entrants. However, as Garmin is producing products in four different segments, its competitors are different for different product lines. The competitors are listed below separately for each segment: Automotive Products Competitors PND Competitors Tom, Magellan, Mio, Neman and Navigant Original Equipment Manufacturer (OEM) Competitors Alpine, Delphi, Harman and Blauupunkt Mobile Competitors Apple, Nokia, LG, Samsung, RIMM, Palm, HTC, Elena and NIM Outdoor and Fitness Products Competitors Outdoor Products Competitors Magellan, Cobra and Bushnell Fitness Products Competitors Nike and Polar Aviation Products Competitors Honeywell, Avidness and Rockwell Collins Marine Products Competitors Furan, Ray marine, Sired/Lawrence and Neman/North star Capturing a market share is a very tough task requiring quality products, reasonable pricing, intelligent placement and an enticing promotion. Garmin has come up as a strong, stable and superior organization in the market of GPS. The market share of the organization has also been on the rise in the past few years. Garmin has established itself as a renowned organization in the market of Global Positioning Systems. Despite the fact that competition prevailing in the market of GPS is on the rise, which is getting tougher with the technological advancements and new entrants, Garmin has successfully kept its growth on the positive scales. The Figure 3 (next page) portrays the market share of Garmin and its competitors in the market over ranging years. Figure 3: Market Share Comparison Garmin started with a very low market share in the beginning and managed to attain a market share of 21% in the year 2006. Since then, Garmin's market share has been on the rise. The most striking factor here is that Garmin has successfully left behind its main competitor, Tom-tom. The difference between market shares of the two has become considerable. Teammates Analysis Garmin is facing intense competition in the market and has to cope with the challenges put up. However, a complete list of teammates that Garmin has built assists it in handling the competition and enables it to excel in the market. Garmin is supported by a lot of organizations that work together to enhance not just Garmin's market position but also are benefitted in return. The operations of Garmin and these other organizations not only support each other in the market, but also ensure the growth of all. Garmin's production is divided into four segments as discussed earlier. It is supported by different organizations for different segments. The various organizations that support Garmin in one way or the other are listed below: Automotive Products Teammates OEM Partners Suzuki, Chrysler, BMW, Ford and Nissan Distributers Best Buy, Wal-Mart, Target and amanzon.com Outdoor and Fitness Teammates Sponsorships Distributers REI, Cabala's, Dick's and Bass Pro Shop Marine Products Teammates OEM Partners Edgewater, Airline and Gulf Craft Distribution West Marine, Cabala's and Bass Pro Shop Aviation Products Teammates OEM Partners Edgewater, Airline and Gulf Craft Distribution West Marine, Cabala's and Bass Pro Shop Strategic Evaluation ...