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Transcript of Dyson
Researched and presented to you by Chris Gallacher.
Marketing and orginisational objectives
Marketing objectives link to organisational objectivies in the way that they both link to making money. Marketing is about establishing the customer needs and the business is about satisfying these profitably.
SWOT is used to to identify the strengths, weaknesses, opportunities and threats. This is done both internally and externally. Strengths and weaknesses are internal. Opportunities and threats are external ways of looking at your business.
Product life cycle identifies the different stages of growth and decline in a business. It maps the life span of a product and how fast it is projected to grow and after what time the product will then start to decline.
Product life cycle
The 7 P’s are a marketing technique used to better understand the customer of a business or product and are crucial when thinking of deals or offers from the business. There are seven different areas in the 7 P's.
Segmentation is splitting your customers up into more specific areas and being able to address their problems more specially. This can be done by different types of advertising, different range of products or simply different packaging.
A target market is a group of people that a business is going to focus and try to sell their product or service to. A clear target market is the first step to having a marketing plan. It also makes it easy for the business as they know who they are going to target and how to sell to them.
The brand is one of the first things a customer will remember about your business. It lets people know who you are straight away. Branding is very important as it will leave a lasting impression on a person’s mind and if they like it or not. Some world wide brands that are most recognisable are Coca Cola, Apple and Nike.
Strengths- Attractive design, High quality products, high service, durable
Weaknesses- Hard floors, massive competition, not in RDC's ie China and India
Opportunities- They are moving into new markets ie fans. Still have the chance to expand into new markets and countries
Threats- Less people are wanting carpets, imitation of product but of poor quality.
Founded in 1993 by Sir James Dyson. It is a company that makes vacuum cleaners, bladeless fans and heaters. Dyson are know well for their design, innovation and high quality products
Dyson had two main competitors. Vax and Hoover. However Dyson has maintained it's standing as the leading seller and what most people would view as the best company to buy from. Dyson is constantly innovating and improving designs to keep it ahead of the competition.
Product life cycle
Dyson is constantly innovating and bringing out new products all year round. This is so that when one product goes into decline or is not getting used anymore another one has just started it's life cycle and that too will be replaced very shortly. Dyson has a number of different types of products so a new model or make is never far away.
Dyson target group are adults that deal with the running of a house or home. They are for both genders and for all types of flooring. So this is a large percentage of the UK population. They would be targeting people of working age between 30-50 that take pride in their home's appearance.
Primary research involves collecting data first hand. This can take many forms, the main ones being interviewed, questionnaires, panels and observation. Secondary research involves collecting data which already exists. This includes using information from reports, publications, Internet research and company files. Primary research can be costly, time consuming and not always feasible. Secondary research can be general and vague, the data may be old and out of date, information may not be accurate.
Primary and secondary research
External Sources of information are outside the company used to compile market research as a basis for marketing decisions. Internal Sources of information are within the company, used to compile market research as a basis for marketing decisions. Limitations of external sources is that it comes from somewhere else so there is no way of proving it 100%. Limitations of internal sources are that it comes from inside the company so it may be biased information.
External and internal sources
Quantitative research is all about numbers. It gathers information that can be displayed in charts these require fairly closed response questions. Qualitative is all about preferences and opinions. It relates to more intensive methods involving small samples such as focus groups who come together to discuss their feelings about a particular product or service. Quantitative limitations are it only shows what something is rather than explaining why, it can lack reliability and validity if the sample is too small. Qualitative limitations are it is expensive and requires skilled personnel to compose questions and interpret answers. Therefore usually conducted on a small scale, which can lead to bias or unrepresentative opinions.
Quantitative and Qualitative Data
Sampling methods are used to select a sample from within a general population. Proper sampling methods are important for eliminating bias in the selection process.it is the most common way to gather field data. Limitations are that it takes a lot of time to do, it involves taking a census of small sector of the population.
Branding is one of Dyson's biggest tools. Dyson have made their product desirable just by their branding. They marketed their self so well by being transparent and offering quarantines.
They also branded themselves as the most efficient choice and over took their competitors, Hoover, and are now taking over the vacuum cleaner market.
Is a method used to evaluate the Strengths, Weaknesses, Opportunities and Threats of an idea or business. It looks at a business or an idea from an external and internal point of view.
What is SWOT?
It stands for Political, Economical, Sociological, Technological, Legal and Environmental. This method is used to examine the effects or influences the outside may have on the performance of a company.
Is looking at the businesses which are in direct opposition to you and seeing what they have as strengths and weaknesses and comparing to your own. Looking at competitors is a good way of seeing in what area you need to improve and in general just getting your business tighter and sharper.
The marketplace is where business is done and sales are made. Developing the local marketplace can be a number of different things from employing local people, to using local materials and just giving the native economy a boost.
Development of local marketplace