Dyson Market Plan

1.0 Executive Summary The continued innovation of the vacuum cleaner by Dyson, a U.K-based business, remains an entrepreneurial narrative that continues to attract a lot of interest from current investment research. This paper investigates and reports the latest findings on the company’s current finance situation, business strategy, industry and environmental forces that affect their productivity locally, and in the overseas markets. Dyson conceived the idea to develop a vacuum cleaner in the 1970s, but it was until 1983 that he produced the first prototype “G-Force sing the idea of cyclonic separation, after producing an estimated 5100 prototypes. In recent decades, the company has developed a strong brand that is recognized globally for innovating affordable, yet quality vacuum cleaners. Dyson thrives in the current dynamic global economy, commanding over 30% of the $14.6 billion vacuum cleaners European market. The company boats more than a $1 billion annual revenue. In 2017, its annual turnover grew by 40% to $4.8 billion, whilst profits grew by 27% to $1.1 billion in the same period. As part of its expansion strategy, Dyson will invest $454.23 million into various perspective markets such as Singapore and Indonesia in 2018. Progressively, the company continues to expand into prospective overseas market, where preliminary insights inform that its competitive competencies may warrant success. The internal and external markets that the company operates in support their success in almost equal measure, as there is massive competition from home appliance producing global companies and compliance requirements that necessitate constant review of marketing strategies. Nevertheless, the company’s marketing plan suggests that its internal competencies such as product branding, stakeholder management, and operational organization continue to position it as a market leader in Europe and potentially in the future global market. 2.0 Situation Analysis Company Overview At the time of establishment of the company, James Dyson was the sole owner during the establishment (Marsh, 2003). Just after James set up the company, Dyson Appliances released the DC01 design (Dyson, 2011). The DC on the design stands for Dual Cyclone. Two years later, the design took to stage as the best-selling vacuum cleaner in the United Kingdom. In one month, the Dyson premium priced up right vacuum cleaner recorded 8 million sales, a new record beating both Electrolux and Hoover. By the turn of the century, the model’s sales stood at 200 million. In 2013, the company moved its headquarters from Malmesbury to Malaysia, with an aim to reduce manufacturing cost. After the move, the company’s operating profit increased by pound 22.8 million based on an increase in the sales volume (Artherton, 2013). Seven years later, the company’s sales volume hit 35.5 million. In 2011, the company recorded revenue past the 1 billion mark, in pounds, with a profit of over pounds 300 million (Khadem, 2013). Based on the above statistics, Dyson has shown tremendous growth, with an appetite to explore the vacuum cleaning market. Dyson has ventured into the United States and Australia as one of the leading vacuum cleaner manufacturers (Guthrie & Roberts, 2010). Vision The vision for the company is to continuously provide a conducive environment that meets the customer needs and one that caters for the company’s products (Kathuris M, 2013). Mission The mission for the company is being the best in the world by selling the number one vacuum cleaners, with the help of the ever developing technology (Kathuris M, 2013). Marketing Objectives Short-term objectives 1. Increase sales: the correlation between improved sales and higher profitability is a basic concept in the business world. Dyson short term marketing strategies are aimed at increase sales in the current markets through aggressive product promotion efforts and additional consumer incentives. The target is to increase the current average $1 billion turnover to at least $1.5 in half a calendar year. This represents an approximately 35% increase, which is substancvial considering the current market forces. 2. Digital marketing: progressively, digital marketing emerges as a powerful campaign tool especially for local investors. Part of Dyson’s short term marketing objectives is to build their digital marketing competencies as a competitive advantage against rivals who rely on traditional models of product marketing. Long-term Objectives 1. Increase brand awareness: Dyson is in its formative years of growth. Its presence in the global market is challenged by global market leaders in the home appliances market. Increased brand awareness is one of the company’s long-term marketing objectives. It aims to have a global presence in at least 100 countries, which should be a remarkable improvement from the current 45. 2. Venture into emerging markets: Dyson considers horizontal integration (expansion into new markets with the same product or with dismal differentiation) as another long-term market strategy as it affords them the opportunity to broaden their presence in the global market. Current research suggests that prospective markets in developing regions such as Asia, South America, and Africa present global businesses with opportunities for expansion. 3. Improve stakeholder relations: Dyson acknowledges that success in the overseas markets is hugely reliant on relations with the consumers, suppliers, and authorities, which often differ from market to market. Thus, proper stakeholder relations in these prospective markets is earmarked as a major marketing objective upon which long-term and sustainable productivity is founded. Market Overview Currently, the vacuum cleaner market is divided into four main categories, which include cylinder, upright, handheld, and multifunctional. Dyson dominates the upright vacuum cleaner market, opening a big gap difference to its competitors (Dyson, 1999). In 2009, Dyson recorded a 22% market share compared to the next competitor Vax at 14% (Cuneo, 2004). However, Dyson recorded a 9.1% decrease over the last two years. On the other hand, market share increased over the period. The above case is due to an overall decrease in sales volume, which was caused by recession. Vacuum cleaners play an essential role in most house hold set ups, since they help ease the daily chores. Through new technology, the homes are cleaner with the production of efficient vacuum cleaners. Drawing from Kuang (2012), Dyson dominates the upright vacuums market, and the company’s technology on the same is unmatched. One of its major competitive advantages is their capacity for innovation, which is drawn from the company’s vast, yet diverse staff base. Marsh (2003) opines that the company’s differentiated recruitment policy for stores in various market is one of the precursor to its capacity for innovation and subsequently, cost effective marketing. In this view, the company leverages its innovative capacity to produce quality vacuum cleaners at a favorable cost. Technology-based industries are dynamic as innovation remains their greatest competitive advantage. Kelion (2014) explains that Dyson uses HEPA filtration technology on the upright vacuum cleaner models. The technology helps the company produce vacuums with no bags, hence reduces the consumer’s extra cost. He further highlights that producing 160 air watts, Dyson’s upright and cylinder vacuum cleaner produce the highest suction, twice as much as its competitors. They are also the only vacuum cleaners to utilize ball technology. The technology allows the vacuum cleaner to turn and access areas non-reachable with competitor vacuum cleaners (Quick, 2013). This is an added advantage to Dyson product users. Dyson offers consumer incentives to promote consumer loyalty and increase its brand awareness. According to Marsh (2003), the company offers a 5-year warranty on parts and labor together with a lifetime of customer support. Alternately, although, the prices for Dyson products are relatively high, the products are we’ll worth based on performance and the company support that the client enjoys. Currently, Dyson leads in two vacuum cleaner markets, which are cylinder and upright vacuum cleaner. Black and decker dominates the handheld market, while Vax dominated the multifunctional market. Dyson holds a huge advantage over its competitors in the upright and cylinder market (Kuang, 2012). It is the same case with VAX and black and decker dominance in multifunctional and hand-held markets respectively. Internal Analysis SWOT Analysis Strength One of Dyson’s strength is that it leads in the upright and cylinder vacuum markets. Another strength is the use of ball technology, which is an added advantage over its competitors. The technology involves a turning wrist, which helps the user access a large surface area. Dyson’s products use root cyclone technology, which instead of integrating bags, the vacuum cleaner utilizes centrifugal force to push the dust straight to the trash. Stevenson (2012) explains that the company’s vacuum cleaner generates high air watts and do not lose suction. The consumer does not incur an extra cost for bags. The company offer L’s great customer services. The company’s products are efficient on energy consumption. In addition, they are the only vacuum cleaners in the United Kingdoms to receive a British Allergy Foundation approval. The products are also environmental friendly due to environmentally responsible engineering adopted by the company. The company enjoys a strong market orientation. The company is dedicated to product detail as it is evident with their use of cameras and large-scale prototyping. The company is also committed to the research and development department, which enhance innovation (Antherton, 2013). The company focuses on corporates social responsibilities as it is evident with the production of special vacuum cleaners, which helped the company raise 1.7 billion with an aim to create awareness on breast cancer (Aldersley-Williams, 1996) Such actions create a strong position in the customer’s mind. On the other hand, there are Dyson’s innovative designs in the museums. They play an important role in establishing a strong brand position for the company (Clark & McNelly, 2004). In addition, Dyson safeguards inventions with the help of biometrics, such as facial scanners and thumb scanners (Marsh, 2003). Weaknesses Dyson products are costly. The company produces high end products, thus the high price. The reason why this factor is a weakness is because there is a huge price difference between Dyson’s products and those of its major competitors, as there will be a huge purchasing power for the buyer (Marsh, 2003). Dyson products suffer from recession, which is the same case for its competitors. In the current market hand held vacuum cleaners are gaining popularity over the other three markets. Black and decker dominates the above market, and while the sale volume for upright and cylinder vacuum have been dropping overtime, Dyson competitors may outdo the company in the future. Hence, this is an urgent importance to venture into the hand-held market as soon as possible. On the other hand, the sale volume for the multifunctional cleaners have also risen compared to the upright and cylinder vacuum cleaners. Opportunities In the vacuum cleaners market, Dyson has great potential to shape up the direction the market takes in the future. However, the company has to consider some of the expected future trends and aspects. Dyson should integrate them to its traditions in the best way possible. First, the people aged between 25 and 35years old are the most likely to purchase new vacuum cleaners (Gov.UK, 2013). This age group considers performance before other aspects while purchasing a product and also can pay the high prices to acquire a performing product. On the other hand, 45- 54 year olds consider energy efficiency while purchasing a vacuum cleaner. Secondly, the number of people living in one household has been increasing over the past five years. The company may consider marketing through social media sites while targeting the youngsters and single households. On the above group of people, the company should focus on small, colorable models (Marsh, 2003). Younger people are more performance oriented and environmental conscious. The company should focus more on the low aged category because it will set a strong position in their minds, which will mean more purchases from the younger group. According to Dyson’s objectives, the company products match with the younger category demands. Similarly, Dyson should consider more of trade and sale promotions and one stop shops similar to the company’s coupons programs. For the older age group, the company may focus on hygiene, energy efficiency, and time saving vacuum cleaners. With the people’s preference being easy shopping, the company should use catalogues and brochure marketing strategies. The brochures and catalogues should contain the product’s image and detailed information (Antherton, 2013). Another opportunity is the market shift to superstores and e-marketing. Therefore, Dyson should look to exploit this opportunity as people do not consider electrical shops nowadays. Catalogue showrooms have also proven to be more popular over the past few years. Threats The company is facing limitations, which may prove to be a big threat in Dyson’s development. For instance, the bag less technology offered by Dyson is now available at a lower price. The competitors have aped it and are providing the service at a lower cost. Another competitor, Bissel, have innovated a vacuum cleaner using power roller technology to deep clean for a shorter period of time. The technology helps in saving time, which is an aspect considered by the consumers (Antherton, 2013). At the moment, the vacuum cleaner categories at Dyson are at different phases. The upright and cylinder vacuum cleaners are more advanced and mature as they account to the majority source of revenue. As stated under the weaknesses, this category may decline in popularity overtime, posing a threat. However, given the innovation capability for Dyson, the company may utilize the strength to extend the two categories popularity instead of venturing into new categories that the competitors have already dominated. During the recession the customer’s focus has turned to hand held vacuum cleaners. For the case of Dyson the hand-held category is way much ahead and requires acceleration as the category is yet to mature. Positioning statement Given the innovation capabilities for the company, the company’s vacuum cleaners can beat the competitors through performance-oriented approach. Moreover, the company’s customer-oriented approaches together with an improved approach on the growing categories are an added advantage over its competitors (Chandler, 2013). In addition, age grouporiented marketing strategies may prove to be efficient in the race to maintain first position in the vacuum cleaner market. More importantly, the company should target age groups to improve sales volume on upright and cylinder vacuum cleaners as well as putting more emphasis on handheld and multifunctional vacuum cleaners with an aim to curb the competitor’s dominance. The above position will be essential in ensuring that Dyson is the number one vacuum cleaner company for years to come. 3.0 Environmental Scan External Analysis PEST Analysis Political Factors The political environment affects the performance of a given business. Dyson is a multinational company; therefore, the company is affected by political factors beyond the United Kingdoms. Dyson’s local market is the UK, and the political factors around have been easier for the company to handle (Aldersley-Williams, 1996). Political factors translate to laws, which include tax related laws. Recently, the country is the putting up strategies to revise previous law, which could affect Dyson’s sales volume and the cost of production (Chandler, 2013). With the government revising the unstable conditions, factors such as supply chain may affect the performance for Dyson. In other countries, various political factors such as unstable currencies, political instability, trade and import barriers, and strict trade rules may affect Dyson’s activities. An effect on international business affects Dyson as a company. Economic Factors Different markets create different challenges for the company. High interest rate is the most common challenge for the company to cope with. With different economies growing at a different rate, the company faces challenges adapting to the slower economies since the cost of producing an item is the same. High rates of inflation in given economies also affect the consumer’s buying power, which in turn affects the sales volume (Aldersley-Williams, 1996) . Bearing in mind that Dyson concentrates on high end products, consumer purchasing power have a huge effect on the company’s sale volume either negatively or positively. Sociocultural factors In the current market, consumers understand their needs and have the exact fit for the same. Therefore, it is essential for a company to fulfil the consumer demands. In most cases, consumers look for quality products and an efficient customer service (Cuneo, 2003). Through innovation, Dyson have net the customer needs by producing quality products overtime. In the global market, the customers do not fully understand Dyson’s innovative approach. Therefore, the company may face low sales volume as the customers are not aware of the quality yet. This happens in countries where the lifestyle is different. Technological factors Innovation is a key aspect in the company as it dictates the next approach. Through innovation, the company has continuously met the customer’s needs. The company utilizes technology to the maximum to help keep the innovative approach going. The company should keep on investing in the research and the development department, which will earn the company a good reputation and hence an increase in the sales volume. Environmental Factors With an increase in environmental pollution, the people are now aware of the environment and will chose eco-friendly products more. Dyson has been producing environmental friendly product. However, creating awareness on the company’s eco-friendly products will boost the sales. In addition, the company can engage in roles involved with saving the environment, which will help boost customer’s confidence in the company. Legal Factors Dyson is a multinational company, which means it has to deal with a different set of rules to carry out its business (Cuneo, 2003). Some of these rules and regulations include patent requirements, employment requirements, safety requirements, and registration requirements. Following this law will help Dyson create a good brand image as we’ll as earning the rights to carry out business in the given country. The external analysis conducted above indicates that Dyson does not experience effect on most of the factors. However, political factors may have an effect if the government chooses to address the unstable conditions. For instance, if a law is passed that non-EU students should leave the country after completing their degrees then Dyson will be affected. This is because there will be few potential employees for Dyson to choose from. The move will affect the company’s long-term strategies rather than the immediate strategies (Chandler, 2013). Most probably, the company will have to set up an apprenticeship institute, with an aim of integrating innovation into the new employees. This will enhance the new employee’s effectiveness and hence no effect on the production of quality products. In the UK, companies such as Dyson are given the freedom to choose from various strategies, with the government involved as a tertiary sector. Therefore, the companies enjoy more freedom than their direct competitors. The global market poses great threats in terms of economic factors for the company. As stated under the economic factors, exchange rates affect the company’s profits in the host country. The pound currencies are one of the strongest in the world. The company needs to export raw materials to other countries where it’s under operation (Aldersley-Williams, 1996) . The concept of exporting goods is an added advantage as the company can buy cheap raw material from other countries. This means that the company can lower the production cost, which helps it rule the given market. With Dyson expanding to Asia, the company may utilize the above trend to dominate the vacuum cleaning markets by beating competitors, such as Hoover. The global demographics are changing and the life expectancy is increasing. With that in mind, Dyson might have to consider the old age in their products. This social factor affects the operation of a company and shapes the strategies differently. On the other hand, technology is advancing day by day and at times it is hard for a given age group to keep up. Therefore, the company has to come up with strategies that will consider the old age without affecting the brand’s name. In addition, the company has to keep up with the evolving technology to remain relevant. Most competitors keep up with the evolving technology. Recently, the company placed a patent for a silent hair dryer (Arthur, 2013). Such patents explain the level of technology in the market. On the positive effects of technology, it helps simplify complex task and helps reduce the production cost over time. Technology enhances designing and manufacturing. Communication comes with technology, which helps people to pass innovative ideas. Similarly, there are no difficulties while communicating with various branches around the world. Therefore, technology enhances efficiency. For the legal factors, the company has to adhere to set rules and regulations. For instance, the company has to pay 30% and 34% of profit as tax in the United States and Japan respectively. On the other hand, the patent law works to the advantage of the company as it helps protect inventions and ideas (Chandler, 2013). With the company operating in 45 countries, it must adapt to the different set of rules and regulations. The company is already working to keep the environment clean as possible. Therefore, the environmental factor favors the company’s strategies and plans. Dyson’s products use considerable amounts of energy, 1600 watts, compared to its competitor’s products. Therefore, the new European Union laws favor the company’s activities (Gosden, 2014). Porter’s Five Forces The purchasing power for the buyer Dyson’s products are high end. Therefore, the purchasing power is high as there are multiple substitutes available for the consumer. Threats posed by substitute products With the products high end and the prices high too, the company faces risk of substitution (Peter & Olson, 2010). The consumer will only purchase Dyson’s products if they are going for the best in the market. Buyers who are on a budget will opt for the less expensive products. The supplier’s power The company uses advance technology to produce the best product in the market. With this in mind, the supplier will have the power to dictate the price of the raw materials. In addition, the premium products need materials which are hard to find. In this case, the supplier will also set the price high at will. Threat from new competitors The company was initially developed in 1978 and was quick to shut down competition threats from Hoover. The risk for new entrant is minimal for Dyson, as the industry requires high capital to start up. At the same time, the industry requires continuous investment on research and development to produce products that fit the buyer’s needs. Therefore, the possibility of an entrant threat is minimal. Competitive Rivalry The company faces direct competition from various companies that include, Electrolux, Hoover and Excel Dyer Corporation (Cuneo, 2003). With the big number of competitors, the company has ventured into different markets such as fans, kitchen and hair dryer’s markets. The company aims at outdoing its competitors by providing quality products. These products are well differentiated from the rest through detailed designs and innovation. The high innovation capabilities help Dyson outdo its rivals in the various markets. According to Porter’s five force analyses above, Dyson is in a good position in the market as it has dominated it. The only threat that Dyson faces is from substitute products. The company can avoid this threat by focusing on customer’s loyalty and always aiming at meeting the buyer’s needs. The buyer has the power to determine Dyson’s future success. 3.0 Consumer analysis (including needs analysis) The Dyson marketing plan has a definitive understanding of their consumers’ demographic, economic, social, geographical characteristics. These considerations are essential in designing operational strategy as marketing decisions are based on them. Bachmeier (2009) explains that consumer analysis is progressively emerging a competitive advantage in the global markets, as organization’s that have sufficient insight into patterns of demand in different markets are able to anticipate changes in consumer demands and respond effectively. Chapman (2011) emphasizes that managements should base differentiation decisions from accurate demographic, psychographic, and behavioral analysis of the target market to circumvent goal-blindness among other employees. Dyson’s broad customer base is segmented geographically, although its demographic characteristics remain largely similar. The buyers of the vacuum cleaners and other producers are largely middle income earners and high end customers, as the product is considered by complimentary acquisition to boost in-house ambience (Cuneo, 2003). However, the psychographic characteristics of the consumers differ significantly with regional markets. Helm (2012) suggests that the purchase of Dyson’s product in the current markets such as Europe and America is impacted by tastes, preferences, opinions, and attitudes of the consumers in these regions. These subjective determinants of demand are easy to influence in culturally diverse communities as people are open to persuasion, adventure, or greater utility, which may influence their choice of vacuum cleaners. 4.0 Value proposition Quality Dyson has a long-standing history of developing high quality vacuum cleaners. Kuang (2012) explains that its capacity for innovation is a key competitive advantage and a major value proposition for consumers in their markets around the world. According to recent consumer reviews, the durability and performance of the company’s products due to superior features positions it as a potential global market leader. Maintenance Support Dyson offers up to 5 years of warranty and a life-time support to consumers, which reaffirms their commitment to quality and reliability. This is a major value propositions as it sets them apart from weaker competitors and stronger rivals whose scope and costs of operations cannot support maintenance support. Kelion (2014) opines that these customer incentives help to build long-term loyalty and to improve brand wariness through recommendations to potential new customers. Advance Technology The company utilizes biometric with an aim of protecting the company’s innovation. Recently, the use of biometric technology has become the basis of protecting personal data and useful information. This helps the company to achieve flexibility since there are no locks or padlocks. One can access the desired information with the use of a thumb. The staff comprises of designing engineers, who are the majority and they come up with new designs and technology based on the company’s tradition and current market trends. There is specialist too, who test and verify the vacuum cleaners. The main aim of this process is to improve various aspects of the product. For a vacuum cleaner to appear on the store shelves or on an e-commerce site, it undergoes various changes, which involve 5000 hours of labor from 120 engineers. Additionally, the company features a microbiology lab, which is used for research on the ways to do away with allergens. Allergens are known to make home dirty, hence causing various diseases. The lab will help consumer with allergies in near future. 5.0 Strategy Target Market and Priorities Current market literature suggests that Asia, Africa and South America have emerged a prospective markets for global businesses in the 21st century. Dyson marketing focus is on countries in these continents such as Brazil, India, Colombia, Indonesia, Vietnam, Egypt, Kenya, Turkey, and South Africa, which according to the results of preliminary feasibility studies conducted by the company’s market research teams (Stevenson, 2012). These markets are continually being shaped by vastly diverse cultural, ethnic, religious, political, and environmental structures, with relatively less vibrant business agenda. As a result, they are most likely to reward investors who are willing to take inherent the market risk. Khadem (2013) emphasizes that in recent years, select markets in the aforementioned regions have matured politically and economically to support foreign investments. THz uncertainties that were occasioned by political tensions have considerably reduced in select countries in the developing regions of the world. Further, their steady, consistent economic growth is an indicator of viability of these markets for investment by global players such as Dyson. In this view, recent projections reveal that Colombia, Kenya, Indonesia, Vietnam, Egypt, Turkey, India, and South Africa will record a consistent more than 4.6% economic growth for the next 20 years. In this respect, these countries are steadily progressing towards 1st world economy. The on-going youthful population surge in Asia, South America, and Africa presents global investors with a potential large market for their goods. Fifield (2016) explains that their regard as prospective destinations with ready markets is supported by latest market research, as the offer not only potential consumers, but also markets for affordable, yet skilled labor. Progressively, the development of education systems has given rise to skilled labor market, where the non-skilled labor market is also in abundance. The large population comprised largely of youthful people present Dyson with a potential market for both their products and labor. Other priorities for Dyson’s company include to curb the competitor’s dominance on handheld and multifunctional vacuum cleaners. The two categories will soon be the strongest categories in the industry, hence, an urgency to dominate the categories. Also, dominating the two categories will set the bar high for the competitors to venture more into upright and cylinder categories. This will benefit Dyson after the recession period since the sale for the upright and cylinder vacuum cleaner will rise again. In the near future, the company should venture in all four vacuum cleaner categories. The same pricing approach should be used in case of upright and cylinder vacuum cleaners, but the prices for the multifunctional and hand held vacuum cleaners should be competitive to those of the competitors, that is, B and D and Vax. The company should also focus on the internet market, which has gained ground since the turn of the century. Other markets include the groceries multiplies and departmental stores. In addition, the company should put age group specifications into consideration. For the younger generation, that is 25-34 years old, the company should put emphasis on innovation for high performance. For the old age, that is 45-54 years old, the company should focus on innovation for energy efficient vacuum cleaners (Marsh, 2003). Youngsters should be targeted through social media, as E-marketing, which has gained tremendous popularity over 6.0 Strategy Marketing Mix Product Branding Dyson’s product branding for the new eco-friendly vacuum cleaners must take into consideration current trends in the home appliances market and industry. First, the production mechanisms must adhere to the ISO 14020 and ISO 14024 recommendations from the International Organization for Standardization to guarantee minimal harm to the environment. Vacuum cleaners are classified under energy-intensive technologies whose design must progressively conform to the stipulations of current sustainability models. Antherton (2013) wrote that the future of marketing will be shaped by sustainability needs and models that are advanced for universal uniformity in progressing towards ‘green’ products. To differentiate between the venture on multifunctional and handheld and its original upright and cylinder vacuum cleaner, Dyson will develop a program based on the company’s superior customer care service. Another differentiation will be offering a warranty of more than one year on the sub branded goods. An online expert program will help the customers’ reveal their issues, which the experts will analyze and find possible solutions. This program will act as a move to satisfy customers. Another effective way of achieving customer satisfaction is by putting the customer care number on the machine instead of the user manuals. Customer satisfaction plays an important role in the success of any company (Meyer & Estrin, 2014). The above strategies can prove vital for the company as it tries to dominate new categories. This is due to the fact that the company will focus on lowering the cost of production by avoiding stylish designs and high-end performance. Therefore, quality customer service is the factor that will create value. The policies most of which were developed by James Dyson and supported by the other executives, focuses on broad issues that face engendering and science. According to Cuneo (2004), these issues include universities, education, culture, and research and development. Including pure science in the education system is an inclusive policy in the broad number of policies developed. Other policies include tax obligations that will favor startup businesses, improve the quality learning and teacher, and integrating flexible courses based on the current state of the industrial system that will help improve innovation. Pricing Strategy Dyson is already a high end producing company. Therefore, the company cannot adopt competitive priorities, which is achieved through making the prices more competitive by raising the prices. On the other hand, Dyson can use the lowprice strategy while venturing into multifunctional and handheld categories. However, the company needs a sub-brand in order to adopt the low-price strategy. The sub-brand helps save the high-end association, which is the basis of the company since its development. The sub brand should be positioned in a way the parent organization, Dyson, is highlighted. Through this strategy, the sub brand will give the Dyson feel and the company will preserve its tradition. At the same time, the company should continue focusing on upright and cylinder categories. The carryover effect will help the company benefit on the two categories after recession. Distribution Strategy The forces of globalization present e-commerce as an effective model for global players in respect to channel strategy. It provides for the integration of digital marketing strategies, which makes it easier to identify target markets, determine the levels and patterns of demand and supply the right quantities of products for specific markets. E-commerce integrates ewarehousing, thus, easing the management of products that or on transit to various markets. Dyson should adopt a producer-consumer distribution channel that is based on e-commerce for better market performance. IMC The emergence of social media platforms present Dyson with effective mediums for managing communications among stakeholders. Through Facebook, Twitter, or Instagram, the organization reaches out to its vast customer base in various markets around the world. Similarly, the exchange of information, consultation, and feedback giving among employees, suppliers, and other stakeholders in various markets is better managed by the use of social media platforms. Communication is a key operational perspective and a competitive advantage for global companies 7.0 Financial Projections 7.1 Break-even analysis 7.2 Break Even Chart 8.0 Conclusion Lastly, it is efficient and practically possible for Dyson to produce a cordless vacuum cleaner. With the company’s innovation capabilities, the cordless code will mark a new milestone as the company looks to venture in other vacuum cleaning categories beside upright and cylinder. More importantly, the vacuum represents the company’s tradition of producing premium products. There is an available market for the cordless vacuum cleaner. According to the market plan, the old age prefers energy efficient products. With the vacuum cleaner using a rechargeable battery for one hour it is a perfect match for this age group. With the use of a swappable battery pack, the cordless vacuum cleaner is not limited to hone usage only. The flexibility of the vacuum cleaner makes it an easy target for a light commercial set up, which forms the majority of commercials in various cities. Fast foods and restaurants will find the vacuum cleaner effective due to easier maneuverability. Therefore, the company should consider producing more of the cordless vacuum cleaner. The company should also implement strategies to help promote the cordless vacuum cleaner. The company should offer warranties ranging from 1-5 years and with the usual 20% off, it will be an efficient introduction of the vacuum cleaner to the market. Such strategies will see the product gain popularity over years and record high sales volume.