Case study chapter $2$

Case study: Dyson

Dyson started out as so many storybook success stories do$-$by one person, in a garage, tinkering away at a product idea. In this case, it took James Dyson over $15$ years and $5,000$ prototypes to come up with his first product. Dyson quickly became known as an innovative vacuum cleaner company. But this story quickly reveals that Dyson is about much more than making vacuums. At its core, Dyson is a technology company that seeks to develop new and innovative versions of everyday products that wow customers. With this as its mission, Dyson has not limited itself to vacuums.

it deals with different products for the customers in the market. Instead of focusing on the vacuum cleaner, the company has come up with different products such as hand dryers, bathroom faucets, and washing machines. Interestingly, the intentions towards the expansion and business portfolio are good, but the company has faced trouble in getting the product in the loop. For Instance, after the first Introduction of washing machines, the management had to recall the product due to impaired sales and less response from the customers. Obviously, there were some quality issues as compared to the substitutes for the customers available on the market. Concerning the new products, the business portfolio of this company seems strong, as several quality issues have been eliminated. The business portfolio is a result of the different needs of the customers, and success can be justified through quality and differentiation. To make the business portfolio successful in the competitive market, the company uses the traditional media channels to position in the minds of the customers. The management, to justify the new brand portfolio, is also adopting new techniques such as E$-$mail marketing to introduce or depict the diversity in the products.

The main intention of the company can be depicted through customer satisfaction. For everyday products, the company is determined to engage the customers and make the benefits or advantage quite visible, which creates a positive impact on customer satisfaction. It is necessary for the company to identify the different issues which are related to the products and resolve them to come up with pertinent outputs in the competitive market. The mission statement of the company is triggered by the competitive market. For Instance, when the company satisfies the customers, the responsiveness increases, and ultimately a$,$ it has a good impact on sales and market share.

The first objective of the company is to strengthen the financial position through doubling the sales of different products in the market in the presence of an immense range of substitutes. $($to double the annual revenues of $$1\mathrm{.}5$ billion "quite quickly$).$ The company intends to boost the revenue and convert it into the different revenue streams to be lucrative in the market.

The products of the company contain higher quality due to modern technology considerations. Interestingly, the company depends on the manufactured products. To improve the products with the passage of time, the company focuses on the research and development process. For Instance, the recent development of a new motor, running at $110,000$ revolutions per minute is an example of quality, research, and technology focus. The top products are motors, vacuum cleaners, washing machines, bathroom faucets, hand dryers, and many other home electronic

appliances. It depicts the care for the customers, as customers demanded the small machines with less noise.

The company is using the skimming pricing strategy in the market. The aim is to come up with high$-$quality products at higher prices. High prices lead towards higher revenues, which are used in improving the product quality and modifications. Also, the skimming pricing strategy is also a different trait to make the difference in the market.Dyson's products are sold in more than $50$ global markets. The company maintains relations with different retail stores in different parts of the world. Recently, The Company has initiated the online sales process, which depicts the modern approach regarding placement.

The company is promoting the products on traditional media channels such as TV$,$ Newspaper and other business magazines. The intentions towards modern media channels are comparatively low. The advertisement is straightforward, as there are not any creative traits to demonstrate better positioning. The big reason to make the straightforward advertisement is to make the brand or products appealing. Public relations are used as the promotional medium to promote the products.

Questions:

Write a market$-$oriented mission statement for Dyson.

What are Dyson's goals and objectives?

Does Dyson have a business portfolio? Explain.

Is Dyson a customer$-$centered company? Explain.

Discuss Dyson's marketing mix techniques and how they fit within the context of its business and marketing strategy?