Dyson Vacuum Cleaners Company Marketing Plan
Document Type:Business Plan
The Dyson vacuum cleaner is an example of a company that has incorporated technology into its operations as well as the development of various products. The main products that are produced by this company are the vacuum cleaners. The Vacuum cleaners that are being developed rely entirely on the new technology. With new technology in place, the company has developed a vacuum cleaner that is cordless. This element means that it does not use electricity. Situation Analysis The marketing environment of the Dyson Vacuum Cleaners Company represents a wide range of opportunities (Weathers, Swain, & Grover, 2015). The company believes that there are various challenges in the market which it can successfully meet. Different goals have been set by the company to help it succeed in its operations.
One of the goals is to acquire adequate financing so that it can expand its manufacturing capabilities, increase the distribution of its products, and to introduce new products into the market. The second goal is to increase its revenue by 50% annually. The competitive environment of this company is generally lower. Most companies have not employed the technique of developing vacuum cleaners that use swappable batteries with a longer life. The companies that have embraced this technology produce vacuum cleaners whose battery life runs out within a short time or still rely on electricity (Kim, & Mauborgne 2014). As a result, the Dyson Vacuum cleaners Company will gain a competitive advantage over these companies. Mission Statement According to Grant (2016), the mission statement of the Dyson Company is to inspire a new era of engineers.
This element will prevent the vacuum cleaner from using other batteries which do not match the specifications lead to its damage. Consumer Buyer Behavior The purchase of this product will meet the various needs of the consumers. The manifest motives is to ensure that consumers obtain vacuum cleaners with low cost of maintenance due to the cheap swappable batteries (Kim, & Mauborgne 2014). The second need is to provide comfortable vacuum cleaners. The latent motive is that it will help in reducing the amount spent in the pay the electrical bills. Personal factors such as preferences will make an individual to buy the product or not. The fourth factor is psychological issues. The psychological issues affect the decision process, and it may involve perception, attitude, and beliefs.
These issues will make one consider buying the product or not. Marketing Analysis Market analysis refers to the study of the dynamism that pertains to a particular market. The health-conscious individuals pay close to their health. They will only acquire the equipment if it does not have any danger towards their health. The last group of people are the individualist. Individualists are people who prefer their ability to control their surroundings without depending on a larger group. Under the marketing strategy, the company will select its consumer market whereby it will focus its marketing efforts. 2 billion USD. The growth of the Dyson Vacuum cleaners is projected to increase in the coming years. Many people are still embracing the use of vacuum cleaners.
Furthermore, technology has driven most people to have the desire to acquire new types of vacuum cleaners. The growth rate of the vacuum cleaner is 4. Market Segments The Dyson vacuum cleaner intends to venture of a particular market segment that will be the potential consumers of the product. The segments that the Dyson vacuum cleaner will develop its operation are health conscious individuals, individualists, lifestyle users, and technology aficionados as stated in the Harvard Business Review. These groups of consumers will easily purchase the Dyson vacuum cleaners as it suits all their needs. Positioning Strategy According to the Forbes magazine, Dyson vacuum cleaners has been successful in its activities due to the way it has positioned itself. The positioning strategy that Dyson has used is that it has focused on technology and design.
The 4Ps are also known as the marketing mix. When there is a slight change in one of the components, there will be a significant effect on the other three elements. Promotion (Marketing Objectives) The company has the desire of reaching to a large consumer group. Promotion has to be done so that the new target markets can be aware of the product being offered. Various techniques can conduct the promotion of the product. The other marketing objective is to ensure that the old consumers of the company are informed of a new outcome in place. Product The main product that is produced by Dyson are the vacuum cleaners. Most people desire to clean when they are comfortable so that they cannot get exhausted.
The presence of vacuum cleaners has enabled consumers to clean their homes or offices with a lot of ease. The new Dysons cordless stick vacuum cleaners have embraced the latest technology to make cleaning more effective. Providing the product at a lower price that these companies will help the Dyson Vacuum cleaners to gain a competitive advantage over them. The profits will also determine the pricing of the product that the company has gained. If the company has gained high benefits, the price of the product will be lower. Furthermore, when Dyson develops a new product, it will have to sell to the consumers at a lower price so that it can gain a large number of consumers. After that, the price of the product will be lowered.
The supply chain that will be employed by Dyson Vacuum cleaner will ensure there is reduced cost and increase customer relations. Integrating Marketing and Communication Strategy According to Wilson et al. (2012), marketing and communication strategy is the visible part of the marketing strategy. Dyson has focused on the marketing and communication strategy to make its products known to a large number of customers. The communication strategy that was used by Dyson entails some tools. Financial Projection Financial projection refers to the act of predicting the future financial outcome of the company. The financial project will be obtained by looking at the no of units produced annually, the average cost of each unit, the total annual cost, average unit prices, annual sales, and the breakeven analysis.
The total number of units that Dyson company produces in a year is currently at 20 000 units. The average cost of each unit produced by Dyson Company is $ 1200. This aspect means that the total annual cost will be $ 24 000 000. The technology that is used to develop the vacuum cleaner continues being expensive with the new developments. Also, other raw materials used to create the vacuum cleaners increased gradually. As a result of this, the expenses that the company will have to spend a lot of money on the expenses so that it can acquire the technology as well as other raw materials required to manufacture the vacuum cleaners. Implementations and Control Implementation Dyson will implement its new product through radical as well radical innovations.
In radical innovations, the company will develop a new product by combining the degree of newness as well as differentness. Completive Factors When the company is deciding on the innovations strategy, it should assess the competitive opportunities as well as threats. Other companies produce quality products, offer reliable customer care and innovation. Dyson Company should focus on these elements and try to improve beyond other companies so that it can gain a competitive advantage over them. Legal, Political and Social Factors Dyson Vacuum Cleaner has to assess how the legal, politician and social factors will influence their ability to innovate as well as compete. The company should understand whether the regulations in place and the customer demographics will positively affect the ability of the company to come up with innovations.
The organization has to make sure that it comes up with innovations that will meet the needs of these customers adequately. Globalization is the other issue that has contributed significantly to the customer's needs, wants as well as tastes. Controls Dyson Vacuum cleaners can use controls to improve its activities. One of the control is through the feedback from the customers. This information will enable the company to understand whether it is meeting the needs of the consumers or not. The third issue is the response which the company develops a way of responding to its competitors. In the case of Dyson Company, when the competitors increase the price of their product, it will still maintain it's to retain its customers.
The last issue under the contingency plan is to manage. After the company has identified the possible threats and how to respond to them, every member of the market team will be given his or her role in monitoring as well as managing the risks. Conclusion Concluding, Dyson Company is one of the leading producers of vacuum cleaners globally. Journal of cleaner production, 137, 762-776. Brexendorf, T. O. , Bayus, B. , & Keller, K. Contemporary strategy analysis: Text and cases edition. John Wiley & Sons. Harwig, J. L. , Jaworski, T. How brand awareness relates to the market outcome, brand equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp. Springer, New York, NY. Keller, K. L. , Gerbert, P. , Waldner, M. , Justus, J. , Engel, P.
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