The company’s market-oriented mission statement might be unique, and it can also be integrated with the company’s aims and objectives. The company’s goal statement is to uncover under-appreciated items and improve them via creativity and innovation to increase consumer appreciation visibility. Customer satisfaction may be used to illustrate the company’s principal goal (Hodgson, 2021). The corporation is committed to engaging customers and making the benefits or advantages readily apparent for daily items, resulting in increased customer loyalty. To produce the necessary outputs in a competitive market, the company must identify and address a variety of product-related issues. It is worth mentioning that the company’s mission statement is prompted by the competitive market (Hodgson, 2021). For example, when a company satisfies its customers, responsiveness increases, which has a favorable impact on sales and market share. Putting Dyson’s products in the spotlight in the market is in the company’s best interests if it wants to maintain a strong market position.
In a competitive market, Dyson’s management plans to set goals that will ensure the company’s long-term viability. For example, the company’s aims and goals are all tied to market and client demands. In the face of an enormous range of alternatives, the company’s initial goal is to enhance its financial position by increasing the sales of various items on the market (Hodgson, 2021). To be profitable in the market, the company plans to increase revenue and turn it into various income streams. Another objective of the corporation is to grow the business by introducing new products (Scott, 2017). For example, rather than focusing on everyday items for consumers, the corporation would like to respond to the demand for fans, hand dryers, washing machines, and other bathroom equipment.
How Dyson Differentiates and Possessions Their Product Offerings
Dyson wants its devices to work better than its competitors, so the company is not afraid to spend millions of dollars developing a truly unique product that will eventually become a favorite of users. Even if it is not valid, pricing a company’s goods or services considerably below the typical cost might make people believe that the offering is not as excellent as the competitors’ (Scott, 2017). According to studies, consumers are more likely to find a product entertaining and even great just because it is more costly. The Dyson hairdryer is far more costly than its competitors, ranging in price from $400 to $500. The majority of high-end hair dryers, such as those made by T3, cost approximately $200 (Hodgson, 2021). Consumers believe that the more expensive product must be superior in terms of technology and features because of the higher price point. Customers with larger budgets who are prepared to pay more for a premium product will be turned off by high pricing. However, buyers with smaller budgets who are willing to spend more on a quality product will be attracted.
Continuous innovation is necessary to ensure the longevity of Dyson’s technologies and the brand’s strength. The organization employs a primary but successful method of creating brand identification and enabling marketing novel and creative marketing. On the other hand, Dyson’s method is risky because they have always been the first to use untested ideas, and the success of their goods is unclear until they hit the market (Hodgson, 2021). Each Dyson device also undergoes thorough laboratory testing for wear so that in the end, the user receives not only a high-quality but also a durable device that will last him for many years. To achieve this, Dyson uses innovative design and geometry, making it possible to make products solid and durable without increasing the volume of materials used (Scott, 2017). The company conducts finite element analysis to predict how the device will behave in real-world conditions. This allows the company to make plastic cases thin and compact but at the same time very durable.
The Role of Marketing Research
Marketing is an organizational function and a set of processes for creating, promoting, and providing a product or service to customers and managing relationships with them for the benefit of the organization. In a broad sense, the objectives of marketing are to identify and satisfy human and social needs. It is worth noting that marketing research is an urgent need for every modern firm. Knowledge of the peculiarities of the external and internal environment, characteristic of modern organizations, gives great opportunities to develop, adjust and improve the quality of activities, both in the domestic and foreign markets (Hodgson, 2021). Thus, by tracing the activities of Dyson, certain characteristics can be identified (Scott, 2017). They, in turn, allow people to determine how a company interacts with its consumers. The main feature of Dyson is how they present its innovative solutions to the general public.
Dyson is also characterized by the fact that all products of this company have an inflated price. Even though all their innovations are determined precisely in the field of design and convenience (Scott, 2017). Thus, determining how a company creates its brand image is of particular interest. People buy technology for a higher price, which is often not conditioned by anything. However, the most important thing is how Dyson appears as an example of a company that skillfully presents its products and features to many consumers.
Product Characteristics That Influence the Adoption Rate
Relative Advantage
The Dyson Air Multiplier is a bladeless fan that provides continuous breeze-like airflow. It has a futuristic design that sets it apart from ordinary fans, and it also operates differently, as research discovered (Cong, 2020). The air multiplier uses a brushless electric motor to rotate the nine asymmetrically aligned blades in addition to the blades on the pedestal platform. This allows for fine fan speed control while being reasonably quiet in comparison to brushed motors. The pedal motor boosts the fast-moving air and propels it into the fan’s ring section (Cong, 2020). Traditional fans circulate air directly via built-in blades to create a direct air stream. While these spinning blades assist in ventilating the area, they also can disperse dust. These unusual air circulators employ modern technology to produce a delightful breath of cold air instead of dust-collecting fan blades.
Compatibility
It should be noted that this hair dryer from the manufacturer practically does not differ in functionality from ordinary hair dryers.
Thus, an important factor is that people do not need to get used to using Dyson air multiplayer (Cong, 2020). Consequently, this hair dryer wins over its competitors in the field of design and improved performance, which is the main advantage. Unlike other floor fans, which use an inconvenient latch for height adjustment, a special spring mechanism is used in the presented model. It greatly facilitates the same height adjustment, as well as the direction of operation of the fan.
Complexity
It is not difficult to guess that the absence of blades means a complete absence of vibration. It should also be noted that standard fans are quite noisy and can also cause many difficulties in the field of operation. On the other hand, there are no blades — there is no danger for those who may accidentally put a hand or an object between them (Cong, 2020). Especially this moment concerns children and pets, that is, using Dyson Air Multiplier, adults can be calm for the latter. Finally, the simplicity of the design gives an advantage in operation — it is very easy to take care of bladed fans since no special knowledge is required.
Divisibility
An essential factor is that the prices of Dyson products are always much higher than those of their competitors. On the one hand, this plays a particular role in the fact that in this way, a specific brand image is created, thanks to which the consumer determines the quality. However, when it comes to introducing this technology into widespread use, such prices have a negative impact. This is because Dyson hairdryers practically do not differ in functionality from the traditional type of hair dryers, but their cost is much higher (Cong, 2020). Consequently, the average consumer will prefer not to overpay and will purchase a product similar in functionality but at a lower price.
Communicability
At this point, it is necessary to go back and pay attention to the fact that Dyson technologies are quite simple. This is determined by the fact that they do not develop a radically new vision of how the device should function. The company primarily works in terms of design and transforms devices familiar to humans in a certain way. All this is aimed precisely at creating comfort for customers. Thus, the primary advantage is that people can easily explain how this device functions. Consequently, the number of users will certainly increase due to the simplicity and clarity of the technology.
References
Cong, R. (2020). How does the Dyson air multiplier work? Jameco. Web.
Hodgson, S. (2021). Quintessentially British brands: How the Dyson brand cleans up on marketing. Fabrik. Web.
Scott, M. (2017). Dyson is the apple of appliances (and just as secretive). The New York Times. Web.
