Garmin faces increased competition from brands including Nike, Apple, and Fitbit. An opportunity lies in product innovation for a differentiated target audience (65+) that will benefit from fall-monitoring techonology. The 65+ demographic encompasses a vast amount of consumer buying power.
Competitive Analysis
Garmin should diversify its wearable technology with “an improved accelerometer and gyroscope able to detect if someone has fallen,” specifically for the estimated ~74.1 million seniors living alone and in assisted living facilities. Seniors have considerable consumer buying power in the U.S. market.
*course project