Case Study: Integrated Marketing of the Garmin Fenix 6 Smartwatch

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This case study provides a comprehensive marketing analysis of the Garmin Fenix 6 smartwatch. It begins with an introduction emphasizing the importance of marketing concepts like target market identification, positioning, and the marketing mix. The analysis includes a detailed market segmentation, focusing on the 15-39 age group in Australia with a high-income bracket, and a discussion of perceptual positioning, using a perceptual map to illustrate the product's market position. The product section highlights key features like solar charging and customizable battery modes. Pricing strategy is analyzed as premium, and place strategy focuses on both physical and online distribution channels. The promotional strategies, including social media presence and e-newsletters, are also examined. The study concludes by summarizing the alignment of the marketing actions with the product's positioning and the effectiveness of the marketing mix in making the Garmin Fenix 6 a successful product. The analysis is supported by academic references and data from various sources.
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Running head: MARKETING
Marketing
Name of the Student
Name of the University
Author Note
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Table of Contents
Introduction:...............................................................................................................................3
Market Segmentation and construction of profile:.....................................................................3
Profile:........................................................................................................................................4
Perceptual Positioning:...............................................................................................................5
Product:......................................................................................................................................7
Price:..........................................................................................................................................7
Place:..........................................................................................................................................8
Promotions:................................................................................................................................9
Conclusion:................................................................................................................................9
References:...............................................................................................................................11
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Introduction:
The significance of different marketing concepts such as the target market,
positioning or the marketing mix in ensuring the scientific management of the business
execution, is observed to be notably high in the modern world of business. According to the
esteemed opinion of Gartzen, Brambring and Basse (2016), the success of the companies in
introducing a new product in the business market, is largely dependent on their ability in
identifying the target market. The identification of the target market ensures that the company
has achieved the information regarding the needs of the customers who are most suitable to
purchase their product. At the same time, it helps the company in positioning their products
in such a manner that it attracts the customers of their target market (Camilleri 2018). Apart
from this, the marketing mix is considered to be important for the company as it includes the
framed strategies from the part of the company regarding the pricing of the products, the
promotional tactics for their products, the place strategies for their products along with the
product strategies that they intend to apply for the introduction of the products (Abril and
Rodriguez-Cánovas 2016). Considering the product, Garmin Fenix 6 (Smartwatch) is
considered to be one of the best multi- sport smart watch with the services of GPS enabled
mapping system (Kollat 2020). The watch has the capability to track almost each and every
outdoor activities that one can think of. Having said that, the product is considered to be one
of the costliest items available in the watches section available in the modern business
market.
Market Segmentation and construction of profile:
As per the comments of Venter, Wright and Dibb (2015), the Market Segmentation is
considered to be a broad marketing strategy that is effectively used by the companies for the
strategic aggregation of the prospective clients on the basis of their same sort of
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requirements. At the same time, majority of the modern companies are observed to have the
tendency of segmenting their market on the basis of the response of the customers towards a
particular marketing action. According to the comments of Dolnicar, Grün and Leisch (2018),
the market segmentation has the ability to enable the companies in targeting different
segment of the customers who have the usual tendency of perceiving full value of specified
services and products.
Profile:
(Information: Share of people tracking their health or fitness via apps, fitness bands or
smartwatches in Australia in 2016, by age group)
(Information Courtesy: Statista.com 2020)
With a look at the above mentioned information, it is understandable that the main
segment of the market that effectively uses such products, belong to the age group of 15 years
to 39 years (Statista.com 2020). From the above mentioned statistics, it is evident that the
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citizens belonging to the mentioned age group, are the ones that have either used these sort
smart watch previously or currently uses. Having said that, the pricing of the product places it
be to be in the list of costly products. As a result, the purchase of these sort of products
require a stable income for their customers. Considering such an obligation, the company has
the necessity to target the customers who earn more than 120000 US dollars. Other than this,
the consumption characteristics of the wearable products in Australia precisely educate the
business companies regarding the increasing awareness amongst the male and female citizens
regarding the practice of these products for maintaining their health. As a result, the target
market profile for the company is required to include the participation of both male and
female customers. Apart from this, the general customers that have a certain level of
preferences towards these sorts of products are seen to be apt in handling the technology and
the technological advancement. In such situation, the company is expected to have a tendency
of targeting the customers that uses the social media platforms and online domains in an
extensive manner.
Perceptual Positioning:
With a precise look at concept of the perceptual positioning, Yumusak, Yilmaz and
Gungordu (2016) claimed that the importance of the perceptual positioning amongst the
strategic decision makers of the business is notably high as it provides a graphic presentation
of the perception of the customers in relation to the product characteristics. According to the
comments of Prasetya and Iskandar (2014), the perceptual maps help the individuals in
understanding the consideration of the customers regarding a particular product with a precise
look at the characteristics of the products in comparison to the characteristics of the products
of other categories. On other hand, Prinsloo, Groenewald and Pelser (2014) claimed that the
perceptual mapping of the products help the companies in effectively understanding the ideal
points of the customers which has the ability to reflect the ideal combination of their product
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Manufacturing and
Industrial
P
R
I
C
E
Healthcare Technology
Garmin
Huami
Fitbit
Trimble
GoPro
Honeywell
characteristics. With a precise look at the broad concept of the perceptual map, it is
understandable that it requires the marketer’s knowledge regarding a particular industry
rather than a market research. Hence, it becomes important for the companies to develop the
perceptual positioning map for finding out the spaces that are not currently occupied by their
competitor organizations but at the same time, it experiences a high level of customer desire.
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(Information: Perceptual Map [Parameters: Price vs Manufacturing and Industrial/ Healthcare
Technology])
(Created by Author)
Considering the dynamics of the business actions of the company, it is evident that the
company applies premium pricing policy for their products and at the same time, the selected
product, Garmin Fenix 6 (Smartwatch) is observed to be perfectly designed for using in
various purposes such as the sporting activities, healthcare activities and in manufacturing or
industrial purposes.
Product:
With a precise look at the product, it is evident that the company is able to incorporate
the power glass solar charging lens in their products. The large 1.4” display which is 36%
larger than the previous products of Fenix model, is one of the unique selling proposition of
the product. In addition to this, the company is able to design their product in a unique
manner for getting charged from solar energy. Apart from this, the Fenix 6 series products are
seen to have long battery services with the help of efficient service from the Power Manager.
One of the significant attractions of the product is the customizable battery saver mode which
is designed with the application of a real time calculator. Other than this, the incorporation of
the services such as the Maps and Ski Trials, Pace Pro, Pulse OX along with the provision of
calculating the heart rate and kinematics during running, are considered to be substantial for
the success of the company in increasing the attraction level of their products in the
mentioned series (Garmin.co.en 2020).
Price:
With a precise look at the pricing of the product, it is understandable that the company
has the expertise of applying premium pricing policy for their customers which is visible with
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the price tags that they have set. In addition to this, it is visible that the products of Fenix 6
series, are priced with precise application of the premium level of pricing for incorporating
the technologically advanced features in the products of Fenix 6 series (Garmin.co.en 2020).
Along with that, the application of such pricing policy from the part of the company enables
it to provide the desired customer value to their customers through meeting their needs with
the help of technological advancements and innovative solutions. Hence, the application of
the premium pricing policy helps the company in increasing their brand reputation and the
value of their products amongst the customers.
Place:
The company is observed to be based in United States. However, the organization
operates across the globe with strong reputation of being one of the top most companies in
developing wearable products with the inclusion of the technology and innovation. The
company is observed to have strong presence in the form of store outlets in various nations
such as India, Australia, Switzerland and United States. Apart from the physical store outlets,
the company is observed to have an efficient presence in the online business domain as well
and that is evident with their association with the online retailers such as the Amazon, PayTM
Mall, Helios, Flipkart and TATA CLiQ (Garmin.co.en 2020). The customers of the company
have the scope to purchase original products of different series of Garmin from these
mentioned channels. The expansion of the business activities of the company through these
online retailers provides great ease to the sales team of the company in ensuring high sales of
the company. At the same time, the company has the possibility of achieving increased
flexibility in managing their business actions through the usage of these channels. With a
precise look at the sales characteristics of the company, it is understandable that a major share
of the products that get sold, are through these online channels and the preferences towards
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the customers with sufficient usage of the online and social media, cited in the target market
profile section, helps the company in increasing their sales through the online channels.
Promotions:
With a precise look at the promotional strategy of the company, it is apparent that the
company has robust presence in the social media platforms such as Facebook, Twitter,
YouTube, Pinterest and Instagram (Garmin.co.en 2020). The company is considered to be
efficient in communicating to their customers regarding the products or about the features of
the products, discounts and offers through the infrastructure of Facebook, Twitter and
Instagram. Along with this, them mentioned services provide greater flexibility to the
company in handling the customers grievances in a professional manner. Other than this, the
company has the capability of streaming the promotional videos on their products through the
utilizing the efficient infrastructure of the Instagram, YouTube and Facebook and that will be
of great significance for the company in providing sufficient amount of market limelight to
their products. In addition to this, the company maintains an attractive business website
which helps the organization in managing their business actions. Other than this, the
company follows the practice of creating E- newsletters for communicating to their customers
regarding the products, offers and discounts on their products and regarding their company as
well (Garmin.co.en 2020). Other than this, the company utilizes the services of email
subscription for managing the customer interaction in a professional manner.
Conclusion:
On an ending note, it can be said that the marketing actions of the company are
perfectly in alignment with the company’s perceptual positioning. The product elements
make the product accurately designed for getting used in different purposes such as the
sporting activities, healthcare activities and in manufacturing or industrial actions. The
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company’s approach in applying premium level pricing is accurate in ensuring the high cost
of the product and in ensuring the incorporation of the modern technology and features.
Hence, it is understandable that the marketing mix applied by the company is perfectly
aligned with the objective of converting the products of Garmin Fenix 6 as bestseller
products.
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References:
Abril, C. and Rodriguez-Cánovas, B., 2016. Marketing mix effects on private labels brand
equity. European Journal of Management and Business Economics, 25(3), pp.168-175.
Camilleri, M.A., 2018. Market segmentation, targeting and positioning. In Travel marketing,
tourism economics and the airline product (pp. 69-83). Springer, Cham.
Dolnicar, S., Grün, B. and Leisch, F., 2018. Market segmentation analysis. In Market
Segmentation Analysis (pp. 11-22). Springer, Singapore.
Garmin.co.en 2020. fēnix 6X Pro Solar | Wearables | Products | Garmin Home. [online]
Garmin. Available at: https://www.garmin.co.en/products/wearables/fenix-6x-ti-carbon-gray/
Garmin.co.en 2020. Shop » Online Store | Garmin | Home. [online] Garmin Available at:
https://www.garmin.co.in/buy/online/
Gartzen, T., Brambring, F. and Basse, F., 2016. Target-oriented prototyping in highly
iterative product development. Procedia CIRP, 51(1), pp.19-23.
Kollat, M. (2020). Garmin Fenix 6 Pro review: a solid update to the Garmin Fenix 5 Plus
with excellent battery life and great build quality. [online] T3. Available at:
https://www.t3.com/reviews/garmin-fenix-6-pro-review
Prasetya, C. and Iskandar, B.P., 2014. Perceptual Map of Online Fashion Store. Journal of
Business and Management, 3(4), pp.432-439.
Prinsloo, H., Groenewald, A. and Pelser, T., 2014. Market positioning of branded meat
products: A case of the feedlot industry in South Africa. Mediterranean Journal of Social
Sciences, 5(1), pp.129-129.
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Statista.com 2020. Australia - tracking health via apps, bands or smartwatches by age 2016 I
Statistic | Statista. [online] Available at: https://www.statista.com/statistics/662868/australia-
tracking-health-via-apps-bands-or-smartwatches-by-age/
Venter, P., Wright, A. and Dibb, S., 2015. Performing market segmentation: a performative
perspective. Journal of Marketing Management, 31(1-2), pp.62-83.
Yumusak, T.U.B.A., Yilmaz, K.G. and Gungordu, A.Y.B.E.G.U.M., 2016. Perceptual maps
of smart phones with multi-dimensional scaling analysis. International Journal of Research In
Social Sciences, 6(5), pp.40-44.
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