GARMIN Essay Example | Topics and Well Written Essays - 1500 words

GARMIN - Essay ExampleSales volume and high levels of customer demand point toward Garmins strengths in the GPS marketplace. In 2007, Garmin phoner denote that 75 cents per share dividends would be included for investors as a reward for the companys sales performance (Hough, 2008). Garmin has only recently paid dividends subsequently being in business for 20 years, which indicates sizeable growth in sales which can likely be attributed to consumer satisfaction regarding the product. One of the main strengths of a company is its ability to lure investors and use stock equities to boost capital. Garmins ability to pay handsome dividends and the companys commitment to investor relations range the firms largest strengths.Additionally, Garmin has recently signed a six-year agreement with NAVTEQ, the digital map supplier responsible for the majority of Garmins electronic GPS routes (Annual Report). NAVTEQ will come about to provide map assistance and upgrades, allowing the company to maintain focus on its brand and remain a leader in effective and accurate GPS technologies.The companys main weakness is an external issue involving the current economic climate across the United States. Consumer wealth is diminishing and it is relatively common noesis that customers are scaling back on purchases in order to sustain a quality lifestyle. This change is most noticeable with Garmins stock expense shift from nearly $100 to $19 in 2008 (Hough). The majority of Garmins products are designed for the consumer rather than on a B2B model (business-to-business) which creates a topographic point in which the company must understand its consumer and create products which will be in high demand in difficult economic climates.Garmins main opportunity lies in marketing and its ability to create effective sales and marketing promotions to build brand loyalty. With such a high volume of competitor in the GPS market, Garmin