MMK101 Assessment 3: Garmin Smartwatch Marketing Plan Report Analysis

This report provides an analysis of Garmin's marketing strategies, focusing on the expansion of its smartwatch sales within the Australian consumer market. The report begins with a background summary of Assessment 2, which includes the target market, consumer profile, and positioning statement. It then delves into the marketing mix strategies, specifically the 3 Ps: Product, Promotion, and Pricing. The product section examines the product life cycle and the need for market awareness. The promotion section discusses Garmin's initial strategies, including employee testing and the use of company ambassadors, and the importance of communication. The pricing section focuses on the importance of appropriate pricing for market share and profitability. The report then recommends effective communication strategies and the use of social media. Finally, the report concludes with implications for Garmin to fulfill its investors, build income streams, and improve efficiency, and the importance of building the brand and adapting to market challenges. The report also includes a reference list of cited sources.

Running head: ASSESSMENT 3 1
Assessment 3
Name
Institution
Course
Date

ASSESSMENT 3 2
Table of Contents
1.1.Background Summary of Assessment 2...........................................................................................3
1.2.Market Mix strategies...............................................................................................................3
1.3.Recommendation.......................................................................................................................4
1.4.Conclusions with implications...................................................................................................4
1.5. Reference List...........................................................................................................................6

ASSESSMENT 3 3
Background Summary of Assessment 2
In Garmin's group of products, the smartwatches are hitting the prospective and potential
target clients what are most likely curious about this sort of item, some potential purchasers
previously utilizing some other Garmin gadgets, yet since there is no comparative item like Vivo
Fit and smartwatches. The items have to gain its one of a kind client (Ali & Talwar, 2013 p.45).
That is the reason why the company has created various segments in the market such as
geographical and behavioral. The target market for this company is various professionals who
have high earnings in the socioeconomic status. It has also enhanced market differentiation by
selling unique watch brands. The positioning statement states To Professionals, Garmin’s
expertise ensures that you have the best quality watch money can buy (Lee, 2015 p.114).
Marketing mix strategies in Garmin Company
3ps of marketing matrix
Products
There is an open market gap and opportunity for smartwatches products on the market,
and this may increase competition. In this case, the product life cycle theoretical perspective is
utilized to indicate the growth of a product (Armstrong, Adam, Denize & Kotler, 2014 p.7). It
enables the strategies to evolve along with the smart watches through the use of obsolescence.
This diversifies strategy of little differentiation among the competitors to enhance cooperation
objectives and incentives creation. It also boosts loyalty among the customers (Pinto, & Yagnik,
2017 p.49).
The smartwatches are exceptionally new and it is still in the early on the phase of the
item life cycle. It is significant for the organization to make familiarity with the item. Concerning

ASSESSMENT 3 4
this marketing mix, it is evident that Garmin's reputation is excellent among customers, and the
most recent methodology isn't overspending on promoting. Be that as it may, this is an entirely
unexpected sort of item as the purchasers were aware, and an inappropriate promoting could be a
genuine risk with the eventual fate of the watches (Buganza, Dell'Era, Pellizzoni, Trabucchi &
Verganti, 2015 p.391).
Promotion
Garmin is a youthful company, however a very settled brand, particularly in the USA and
Canada (Lilien, Rangaswamy, & De Bruyn, 2013 p.10). The prospective consumers demonstrate
high and great loyalty to the existing brand. Thus any intensely forceful advertising is quite
unnecessary for this situation. However, this was the initial technique and type of product that
Garmin started with which clients have no information about (De Vries, van Helsdingen,
Borchert, 2012 p.90). What Garmin did toward the start was promoting the Smartwatches
among their workers and staff to urge them to essentially test the product for them. The
organization has a few representatives well being projects and medical advantages and this new
item was one of them. It likewise was a deliberately made point to see how well the item will be
gotten from more extensive publics, and because it was tried by own workers first (mostly
architects and expert effectively acquainted with Garmin products, it was a superb advance to get
all product bugs before bigger publics will become increasingly aware of the item (Huang &
Rust, 2017 p.907). This marketing mix will utilize the alignment theory where communication of
all the features and psychological demands of purchaser demand are part of the strategy. The
marketing team will be able to align the strategies with generic ones in the firm to reach its
objectives.

ASSESSMENT 3 5
In this particular case, the promotion marketing mix isn't simply identified with the item
itself, however necessary is to ensure the promotion of Garmin as an organization as well. The
promoting effort ought to unmistakable, in huge configuration (for instance: sponsorship), be that
as it may, the market is small and contrast with North America, Europe is more neighborhood
orientated than brought together. This is on the off chance that the company will choose to go on
to the advertising market in various nations (Lutfi Kadhim, 2018 p.96). What Garmin did at the
beginning was advancing the Smartwatches among their laborers and staff to encourage them to
basically test the item for them. The association has a couple of delegate’s prosperity activities
and therapeutic points of interest and this new thing was one of them. It in like manner was a
purposely made point to perceive how well the thing will be gotten from progressively broad
publics, and on the grounds that it was attempted by possess laborers first for the most part
engineers and master viably familiar with Garmin items, it was a magnificent development to get
all item bugs before greater publics will turn out to be progressively mindful of the thing. This
promoting blend will use the arrangement hypothesis where correspondence of the considerable
number of highlights and mental requests of buyer request are a piece of the procedure.
This aspect will require own company promotion and a clear advertisement plan designed
carefully by individuals who are aware of the target region. This item has plenty of highlights
and specialized parameters-and it is still client-friendly and simple to work (Kotler, Armstrong
Harris, & Piercy, 2014 p.96). Garmin presented the item with "Say Hello to the activity tracker
that knows your potential’’ This is a magnificent introductory phrase of the watch products when
the prospective clients are quite familiar with the existing brand and they are aware of their
expectations (Young, 2014 p.97). Garmin propelled the Smartwatches among their workers and
staff to urge them to essentially test the thing for them. The affiliation has two or three

ASSESSMENT 3 6
representative's success exercises and helpful focal points and this new thing was one of them. It
in like way was a deliberately made point to see how well the thing will be gotten from
continuously wide publics, and in light of the fact that it was endeavored by have workers first
generally designers and ace reasonably acquainted with Garmin things, it was a wonderful
improvement to get all thing bugs before more noteworthy publics will end up being dynamically
aware of the thing.
It is typical to choose company ambassadors for the company in the popular celebrity. This
means that the product features will be conforming to an individual of high reputation and
known to be involved in fitness or health programs. It can also involve sponsoring of a certain
national team such as football and other athletes to promote the products (Kotler&Armstrong,
2013 p.114). This is because this aspect gains popularity and publicity from the press and social
media platforms hence creating awareness regarding the existence of a product among potential
customers.
Pricing
Appropriate pricing is the key in the event of market share and profitability. On the off
chance that the value is set excessively high or then again excessively low, the item either doesn't
sell or oversells. In the two cases, it will not provide enough returns. Proper pricing controls
profit raise and also increased market share. The watch price set will determine the market share
that the company will control in various Austrian regions. The price should be able to balance
the profit and cost of manufacturing and also be convenient and affordable for clients. The
current product cost on the Garmin.com store is 119.9 euros.
Recommend and justification marketing analytics to measure the success

ASSESSMENT 3 7
I would recommend making effective communication to position the market in Australia
region such as Queensland. Another key recommended strategy is utilizing social networks,
blogs, discussions, which are mainstream among clients targeted, thus, this can be utilized for
communication among organizations and clients. Conversely, it is imperative to note that
satisfied clients are more probable to promote the items to their family members and the deals
will develop.
Conclusion and implications
With the goal for Garmin to fulfill its investors, it is fundamental for it to build its income
streams, return on value, and diminish costs just as improve efficiency inside the organization
positioning system. At the point when clients consider Garmin, they see the value, quality, time,
coordination, picture, and relations. From an inner point of view, it is basic for the organization
to exceed expectations by building the brand. Otherwise, the product will affect the future
development of new products. It will also lead to decreased sales volume.
Garmin right now has a moderate evaluating technique set up with redesigns at a
reasonable cost. This makes its clients pay readily a sum which is sensible to update their
airplanes to stay serious. With the objective for Garmin to satisfy its speculators, it is principal
for it to manufacture its salary streams, return on esteem, and reduce costs similarly as improve
proficiency inside the association situating framework. Exactly when customers consider
Garmin, they see the worth, quality, time, coordination, picture, and relations. From an internal
perspective, it is fundamental for the association to surpass desires by building the brand.
Something else, the item will influence the future improvement of new items. It will likewise
prompt diminished deals volum. The business heads like Apple keep thinking of new items
consistently which makes it simpler for Garmin to charge somewhat higher for the unwavering

ASSESSMENT 3 8
ness its client has towards the organization. Be that as it may, because of solid challenge, Garmin
alters its value structure as required to be goal-oriented.

ASSESSMENT 3 9
References
Ali, H., & Talwar, V. 2013. Principles of marketing. University of London: International
Programmes. 3(6), P. 45
Armstrong, G., Adam, S., Denize, S., & Kotler, P. (2014). Principles of marketing. Pearson
Australia. 5(3), 06-24.
Buganza, T., Dell'Era, C., Pellizzoni, E., Trabucchi, D., & Verganti, R. (2015). Unveiling the
potentialities provided by new technologies: A process to pursue technology epiphanies in the
smartphone app industry. Creativity and Innovation Management, 24(3), 391-414.
De Vries, W., van Helsdingen, P. J., & Borchert, A. H. (2012). Services Marketing Management,
an Introduction. Noordhoff. 2(1), 90-92.
Huang, M. H., & Rust, R. T. (2017). Technology-driven service strategy. Journal of the
Academy of Marketing Science, 45(6), 906-924.
Kotler, P., & Armstrong, G. (2013). Principles of Marketing. 5(6), 96-104.
Kotler, P., Armstrong, G., Harris, L. C., & Piercy, N. (2014). Principles of Marketing, 4th
European edition. Financial times/Prentice hall. 5(2), 106-124.
Lee, S. K. (2015). Quality differentiation and conditional spatial price competition among
hotels. Tourism Management, 46, 114-122.
Lilien, G. L., Rangaswamy, A., & De Bruyn, A. (2013). Principles of marketing engineering.
DecisionPro. 5(2), 9-14.
Lutfi Kadhim, K. (2018). Products differentiation in the wearable industry: Finnish wearable in
the Gulf Region. 5(6), 96-214.
Pinto, M. B., & Yagnik, A. (2017). Fit for life: A content analysis of fitness tracker brands use of
Facebook in social media marketing. Journal of Brand Management, 24(1), 49-67.

ASSESSMENT 3 10
Young, M. R. (2014). Integrating Quality Matters into hybrid course design: A principles of
marketing case study. Journal of Marketing Education, 36(3), 33-243.