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Dyson: Solving Customer Problems in Ways They Never Imagined

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Elizabeth J

on 18 July 2014

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Transcript of Dyson: Solving Customer Problems in Ways They Never Imagined

: Solving Customer Problems in Ways They Never Imagined
Elizabeth Juran
"I like going for unglamorous products and making them a pleasure to use."
-James Dyson
Dyson: an overview
James Dyson's Career
Originally an engineer
Moved into vacuums without planning to do so
15; 5,127
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
#5
Focuses on finding new ways to solve customer problems and create more satisfying customer experiences

Differentiated
Solve major customer problem
Compelling customer value proposition
Study #1
Twice the return on assets
Triple the growth on operating income
Study #2
"Interrogating Products"
1.
Identify most obvious shortcomings of everyday products
2.
Find a way to improve
3.
Test prototypes with consumers
Air Multiplier
Standard method of focus groups would not be effective.
Dyson's Business Portfolio
Market Growth Rate
(HIGH)
(LOW)
Relative Market Share
(LOW)
(HIGH)
Star
High-growth
High-share
Heavy investments
Will eventually slow down
Cash Cow
Low-growth
High-share
Established and successful
Holds market share with less investment
Question Mark
Low-share
High-growth market
Require lots of money
Build into star or phase out?
Dog
Low-growth
Low-share
Not large source of cash
Could help reach Dyson's goal of doubling annual $1.5 billion revenues
Dyson DC 40
#3
Dyson's Marketing Mix
The set of tactical marketing tools that the firm blends to produce the response it wants in the target market.
Product
Goods and services
Price
Promotion
"There is only one word that's banned in our company: brand"
TV advertisements
Avoided industry cliches
Avoided standard ways of communicating
Email campaigns: scarce, targeted, timed
Product reviews
Online reviews
Tweets
Place
THINK:
What are Dyson's goals and objectives?
Good!
I said...
THINK:
What might Dyson's mission statement be?
Reminder...
"A statement of the organization's purpose- what it wants to accomplish in the larger environment."
Nice job!
Here's what James Dyson thinks...
#2
Ingenuity
Groundbreaking technology
Sharp-looking products
Non-conformist
Environmental awareness
Improving the world
#1
http://www.dyson.com.au/community/about-james-dyson.aspx
High price point
Worth it for quality
Hundreds of retailers
Also available online
Service centers in 12 states
#4
Mission and Objectives
Full transcript