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Dyson: Solving Customer Problems in Ways They Never Imagined
Transcript of Dyson: Solving Customer Problems in Ways They Never Imagined
"I like going for unglamorous products and making them a pleasure to use."
Dyson: an overview
James Dyson's Career
Originally an engineer
Moved into vacuums without planning to do so
Pitched new vacuum to appliance-makers and catalogs
Dyson's Development Model
1. Take an everyday product
2. Focus on its shortcomings
3. Improve it to the point of reinvention
Customer-centered new product development:
New Product Development Approach
Focuses on finding new ways to solve customer problems and create more satisfying customer experiences
Solve major customer problem
Compelling customer value proposition
Twice the return on assets
Triple the growth on operating income
Identify most obvious shortcomings of everyday products
Find a way to improve
Test prototypes with consumers
Standard method of focus groups would not be effective.
Dyson's Business Portfolio
Market Growth Rate
Relative Market Share
Will eventually slow down
Established and successful
Holds market share with less investment
Require lots of money
Build into star or phase out?
Not large source of cash
Could help reach Dyson's goal of doubling annual $1.5 billion revenues
Dyson DC 40
Dyson's Marketing Mix
The set of tactical marketing tools that the firm blends to produce the response it wants in the target market.
Goods and services
"There is only one word that's banned in our company: brand"
Avoided industry cliches
Avoided standard ways of communicating
Email campaigns: scarce, targeted, timed
What are Dyson's goals and objectives?
What might Dyson's mission statement be?
"A statement of the organization's purpose- what it wants to accomplish in the larger environment."
Here's what James Dyson thinks...
Improving the world
High price point
Worth it for quality
Hundreds of retailers
Also available online
Service centers in 12 states
Mission and Objectives