Last Updated 12 May 2020

Marketing Plan: Garmin

Category Marketing Plan
Essay type Research
Words 1004 (4 pages)
Views 334

Garaging will position itself as the premier Global Positioning System (GAPS) Company. Garaging will achieve this position by incorporating new technology 3. 5 Positioning that its competition does not possess. The GAPS device will be marketed to Businesses, insurance companies, and for personal use. Garaging will be delivering a superior product which will benefit their customers in their daily activities. Garaging is the best source for selection and price of GAPS technology equipment and services.

Customers will be impressed with, and return for, the great existing and new genealogy being incorporated into the devices, value-oriented pricing, quality, ease of use, and excellent customer service. With the unstable economy and consistently rising gas prices, German's GAPS will direct customers to their desired location, while eliminating traffic congestion spots saving costumers time and money and realize the greater value for the dollars they invest. 3. Strategies The single object is to position Garaging as the premier source for Global Positioning Systems (GAPS) technology in the domestic market as well as the international market, maintaining and increasing the majority of the market share. The market strategy will seek to first create customer awareness regarding the products and services offered, develop that customer base, establish connections with targeted markets and work toward building customer loyalty and referrals. Garaging will communicate their marketing strategy through their in-house advertising agency.

Gamin's three main marketing strategies are: 1. Increase awareness and image. 2. Leverage existing customer base. 3. Create new customer base. One of German's main marketing strategies is to increase awareness and image by informing those not yet aware of what Garaging has to offer. This can be accomplished through a referral program that offers discounts and services for each referral. Garaging can build a relationship with different companies consisting of but not limiting to logistic companies, insurance companies, and rental car companies.

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Garaging can also expand its image by building organizational relationships. They can co-sponsor fund raising activities and host charitable events and benefits. Another of Germans main market strategy is to leverage its existing customer base to secure its sales in the future with a loyal customer following. This will be achieved wrought sales promotions, exceptional customer service, and follow up contact with questions or concerns, and shopping support in stores and on line. Garaging can also hold demonstrations for all customers to show case all technology incorporated in their products.

The third main marketing strategy is to gain a new customer base. Garaging will introduce new technology, monitor the quality of service and products, and create new advertisements, otter promotions, and support local charity events Garaging will also need to pay attention to pricing, and channel distribution for product availability and prompt delivery. . 7 Marketing Mix In brief, German's marketing mix is comprised of pricing, distribution, advertising promotion, and customer service.

Garaging Leverages Cockpit Expertise For Car Systems. Lessons learned from building highly integrated avionics suites for aircraft could soon help Garaging gain the pole position in the emerging market for integrated "infotainment" systems for automobiles. The avionics maker, which has made a rapid climb into the flight decks off growing number of piston aircraft, business Jets and even unmanned aircraft, revealed this month at the Consumer Electronics Show in Lass Vegas that it has developed a glass cockpit for automobiles.

Called K, the system integrates the functions that are becoming standard with today's cars--displays, voice control, infrared buttons and smartened access--in a way that parallels information management on a flight deck. Garaging is serious about the potential, with a "very large percentage" of its 1,000 automotive sector engineers working on the project, says Bill Stone, avionics product manager for the company. "It's a large strategic move for us at this point. One of the founding principles at Garaging is to service multiple markets and benefit from the synergy of staying in different markets with common technologies. Pricing of the new Garaging will be based on a per-product retail price. Since, Garaging will be the only GAPS Company with this new technology German's goal price will be slightly higher But not more than 5% above its competitor's price without this technology. This will ensure competitive pricing with technology advantage. This pricing strategy is based on the value to the customers compared to other closely related products. Looking at current pricing, of the Garaging nevi ALMIGHTY at $349. 9, then the new product line will start around $379. 99.

Distribution will include direct to customers from on line sales and retailers. Garaging deals with a number of distributors to sell its products. Much of German's sales come from networking with retailers such as Best Buy, Target, Wall-Mart, Sears, and Cost. Garaging also has a wide range of strategic alliances with on line distributors such as Amazon. Com. Advertising and promotions will be driven through their in house advertising agency. Garaging will also use its distributors as a strategic competitive advantage in marketing by using its strictures as an indirect source of marketing in localized segments.

Garaging will offer life time map updates and coupons to promote the sale of their new products. Customer service is an important aspect in the way Garaging does business. German's customer service and technical support include order processing and answering customer questions, concerns, and claims. Customers will be able to contact Garaging through its website, telephone, e-mail, and other electronic forms. German's customer service and technical support is a free service to customers and potential customers. 3. 8 Marketing Research Garaging uses an in house advertising agency that also conducts its own marketing research.

In conducting their research Garaging will continually shop stores carrying competitors' products and view competitors web sites for competitive information. They will monitor customer complaints and questions . Garaging will need to measure and analyze customer response and attitudes towards competitor's products. Garaging will need to insure that retail stores carrying their product are knowledgeable about Garaging products and provide a friendly atmosphere. Garaging will need to conduct market test and surveys to determine if consumers are willing o pay for the value of the new product line.

Marketing Plan: Garmin essay

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Marketing Plan: Garmin. (2018, Feb 01). Retrieved from https://phdessay.com/marketing-plan-garmin/

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