Dyson Marketing Plan MBA640.docx - Dyson Marketing PlanL...

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Dyson Marketing Plan L Contents 1. Executive Summary ................................................................................................................... 3 2. The Business Challenge ............................................................................................................. 4 New Product Idea ................................................................................................................... 4 Value Propositionuc6 3. The Market ................................................................................................................................. 6 Consumer Analysis Report ..................................................................................................... 6 What needs are being met by the product purchase? .............................................................. 7 Who is involved in the purchase process? Who are influencers, buyers, and users? ............. 8 Where are the products sold? .................................................................................................. 8 How often are the products purchased? Is there seasonality to sales? ................................... 8 Segmenting ............................................................................................................................. 9 Targeting ............................................................................................................................... 10 Positioning ............................................................................................................................ 11 SWOT Analysis .................................................................................................................... 12 Porter’s Five Forces Analysis ............................................................................................... 13
2 PESTEL Analysis ................................................................................................................. 15 4. The Strategy ............................................................................................................................. 17 Marketing Strategy ............................................................................................................... 17 Pricing Strategy .................................................................................................................... 17 Branding Strategy ................................................................................................................. 19 Integrated Marketing Communication .................................................................................. 20 Distribution and Supply Chain Strategy ............................................................................... 21 5. Budget ...................................................................................................................................... 23 6. Conclusion ............................................................................................................................... 25 Reference ....................................................................................................................................... 26
3 1. Executive Summary As Dyson’s CEO James Dyson seeks to research the feasibility of creating a cordless vacuum cleaner that works for one hour on a single charge that will be primarily used in the home while being able to adapt for light commercial use, it was imperative that research be conducted to ensure that there was a market for such a product. To do so, an internal analysis of Dyson and an environmental scan for the new vacuum cleaner was conducted. Research into identifying potential marketing opportunities, the residential and commercial vacuum cleaner industry, market trends, and Dyson's global competition was also conducted. The research also conducted a financial analysis and took a look into a proposed schedule of implementation and internal controls that could be put into place to ensure that a successful product is launched.
4 2. The Business Challenge New Product Idea To creating a cordless vacuum cleaner with a swappable battery back that works for one hour on a single charge built to be primarily used in the home, but may be easily and cheaply adaptable for light commercial use. A value proposition is the means by which an organization is able to clearly and succinctly list the benefits of their product or service [CITATION Ray121 \l 1033 ]. The value proposition serves as an integral part of the marketing strategy as it gives the consumer a clear picture as to why they should buy a particular good or service [ CITATION Ray121 \l 1033 ]. The value proposition is also used by management if it becomes necessary to reposition an existing product in the market [ CITATION Wal17 \l 1033 ]. The seven steps generally used to develop a new product are idea generation, idea screening, narrowing down the product’s features, product development, product testing, launching or commercialization and evaluation [CITATION Placeholder5 \l 1033 ]. While ideas can come from just about anywhere, organizations may look to their employees, customers and suppliers for new concepts that can be developed [CITATION Placeholder5 \l 1033 ]. Dyson is careful to hire and train persons who are not afraid to think outside the box when it comes to the development of new technology and products [ CITATION dys172 \l 1033 ]. Dyson is also mindful of the competition and listens closely to the wants and needs of their clients as they seek to develop the new cordless vacuum cleaner with a longer battery life that may be used residentially as well as commercially.

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