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MGMT - Garmin

Strategy analysis

Mj Chen

on 13 February 2013

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Transcript of MGMT - Garmin

External Analysis Internal Analysis Proposed Strategies ACS Staff Member Garmin's Current Strategies Conclusions Allow for increase in private funding
Another entity eligible for grants
tax deductible contributions Next Steps 2 3 Powered by
B.B.C. Consulting Group 4 Marketing - Developed testimonial videos for the website
- Developed mobile linkages to testimonial videos
- Attended trade shows with Allies in target areas
High threat of portable navigation device (PND) substitutes due to proliferation of GPS-enabled smartphones

Political factors are key: dependence on free access to the U.S. DoD GPS satellite system and the risks of basing major manufacturing operations in Taiwan

Emerging and high growth GPS device markets reward technological leadership Culture around continuous innovation and
IP development help ensure market leadership

Vertical integration allows for feedback loop between manufacturing and design to optimize cost savings, product design, and time to market

Reliance on third-party digital mapping data now owned by competitors
Remove reliance on third-party suppliers by acquisition of digital mapping firm(s) that can support Garmin's high-growth segments (e.g. Outdoor/Fitness)
Identify three possible takeover targets by 2015 and begin negotiating acquisition possibilities (USTrailmaps)

Aggressively invest in R&D capabilities to gain a significant
stake in the smartphone navigation industry
Create innovative smartphone app and grow to top 5 position
Investigate new pricing models to compete with competitors
(WO) Strategy - Acquired Garmap in Sept. 2011, a South African mapping and mobile applications provider
Reduces threat of third-party mapping suppliers and increases exposure to smartphone market

(ST) Strategy - Acquired NAVIGON AG in July 2011, a leader in the German PND and smartphone navigation app markets
Leverages existing R&D capabilities to speed development in growing smartphone app market Automotive Outdoor Fitness Aviation Marine Possible (WO) Strategy Garmin’s Strengths Garmin’s Weaknesses Industry Threats Industry Opportunities Possible (ST) Strategy Garmin is executing on their published strategies of:
- growth by acquisitions
- product innovation through R&D
- integration of manufacturing and design expertise

Garmin needs to dedicate more resources to developing a competitive position in the smartphone navigation market and continue market leadership in outdoor/fitness
2011 Mintel survey indicates 21% of respondents rely on smartphone for
vehicle navigation
21% annual growth rate of outdoor/fitness navigation segments through 2018 Actual Garmin (WO) Strategy Actual Garmin (ST) Strategy However...
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