This report provides a comprehensive marketing mix analysis of the Garmin Finix 6 smartwatch, examining its product strategy, pricing strategy, distribution strategy, and promotion strategy. The product strategy focuses on the quality of the watch, utilizing Corning Gorilla Glass. The pricing strategy is value-based, setting the price at US$599.99. Distribution employs an Omni-channel approach, including online sales, brick-and-mortar stores, and wholesalers. Promotion leverages social media and traditional marketing tools with an estimated budget of US$40,000. The report includes recommendations for improvement, such as clear product descriptions, budget adherence, and strong wholesaler relationships. The report references Griffith, O'Connell and Smith (2017), Garmin.com (2020), Nadanyiova, Gajanova and Moravcikova (2018), and Prabhuram et al. (2020) to support its analysis. The assignment addresses the key elements of a marketing mix, offering insights into how Garmin positions and promotes its product in the competitive smartwatch market. The report also covers the product life cycle stage, branding strategies, and competitive differentiation.
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