Last week, while I was window shopping in Harvey Norman store, I came across this name DYSON.So, when I just started exploring, I saw a variety of products such as vacuum cleaners which are bag less, fans without blades with advanced function, I mean seriously I was shocked to see the development Dyson has. So to be brief, how did this word Dyson come? Through James Dyson who once got so frustrated with a way how his vacuum cleaner quickly lost suction.Now, many must be wondering how can a vacuum cleaner suddenly lose its suction? He started identifying that the vacuum bag had many holes.Then, through years of hard work, he invented the first ever Dual Cyclone bag-less vacuum cleaner which captures the tiniest of particles and the best part about this machine was that it never loses suction, I mean how convenient is that. From then started his innovation on variety of products which are easy to handle and safe for consumers. Now Dyson machines are present in more than 65 countries worldwide. Recently there was a news in the media regarding the progression of Dyson machines based on innovation. With this, we can find out how Dyson became successful in the market based on product, brand and new product.
A product is the core element which a company uses for marketing. The thought of a product comes from an idea, its main characteristics and the benefits it gives to a consumer. (Henrik Florén, Johan Frishammar,2012). Consumers purchase a product depending on how tangible the product is and the extent of variability it gives. Tangibility can be defined as the extent to which a product can provide a distinct picture to the customers before they proceed to buy (McDougall and Snetsinger,1990). Dyson excels in both these qualities by allowing the customer to feel and experience their products and provides value that ensures customer satisfaction. So, even though charged at a premium price, customers are ready to buy as Dyson has captured an image of security and quality in their minds. This dynamic strategy also enables them to stay ahead among their competitors.
A brand can provide a lot of benefits to the customers and enhance their loyalty with time. Talking about what Brand Equity is, it could be vague term but has been defined most often as the value a brand name that adds to the product(Farhquhar,1989).
Brand extensions is one of the most important tools to add value to the brand. Through this, the sellers would influence the people to purchase more products (Iacobucci,2013). A consumer’s perception about a brand depends on the quality of the parent brand and the proper linkage between the parent brand and the extended group (Aaker and Keller 1990; Bottomley and Holden 2001). This could be achieved by product category extensions and line extensions. Dyson has diversified itself in both these extensions.
DYSON PARENT BRAND(Vacuum Cleaner)
Product Category extensions of Dyson
Dyson fans LED lights Hair dryer
Line extensions of Dyson:Hand dryer
Air blade V Air blade dB Air blade tap
Introduction of a new product under the same company could be done to keep up with the superiority, to be constant with invention and to be loyal to existing buyers or draw new ones(Iacobucci,2013). They could draw customers through different approaches from which one of them is Top-down method-company brings their own new idea to develop a product and involves the customer in a later stage. Dyson follows the top down approach which focuses on idea generation, design and development and then commercialization. Dyson has recently launched its new Product-Dyson supersonic Hair Dryer which almost looks like a doughnut and used these 3 stages while introducing it to the market.
Idea generation: For a company to grow in the new market, one of the key tools they should use is innovation (Gunday et al,2016). Engineers in Dyson took the use of this tool and used a new digital motor -V9 which has a speed of 100,000rpm and fixed it in the handle of the hair dryers making it faster and lighter than other dryers.
Design and Development: Before launching a new product, companies make use of a functional prototype system that is an important theory of product development which is used in evaluating the form, suitability and purpose of the design before they invest a lot of cash on the product ( Ognen Tuteski, Atanas Kočov*, Taško Rizov ,2015). Dyson engineers follow prototyping and do a lot of experiments and demonstrations on the product before they launch as they pursue perfection.
Commercialization: Commercialization is defined as the advancement of a concept in a product, successful promotion and association with potential customers as the development of product concept, successful launch and interaction with potential buyers. (Jolly,1997; Pellika & Virtanen,2009). Dyson Involves the customers later after they finally launch it and attracts customers through advertisements, promotional events and social media.
We are all about invention and improvement !–JAMES DYSON
-Dawn Iacobucci,2013,Marketing Management 4
-Tracy Lien,2015,Los Angeles Times, http://www.latimes.com/business/technology/la-fi-tn-cutting-edge-dyson-20151120-story.ht
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