A market-oriented mission statement is simply a mission statement that is written to appeal to its target market and tells customers what the company and its products are all about. A great example for Dyson Products would be "Dyson Products are designed to change the way you clean your home, making household cores quick and efficient."
The ultimate objective of any company is to increase its profits and market share. According to Dyson, their goals also include making life easier for customers and making household chores less bothersome by improving existing products.
Simply put, a business portfolio means that a company offers a variety of products and/or services. Since Dyson offers an array of vacuum cleaners, as well as fans, hand dryers, and other products, it is evident that they do have a business portfolio.
In terms of the marketing mix, Dyson sells functional products, and they keep their marketing simple rather than slick to showcase their products. The time-saving benefits of their products speak for themselves. Their marketing endeavors focus on the fact that these products are reliable and durable, which will help to justify their high price point in comparison to their competitors.
Since Dyson's focus is on creating products that will make a difference in the lives of end users, it is easy to conclude that they are a customer-centered company.
A market-oriented mission statement for Dyson would read something as follows: "Dyson products are revolutionary household devices that will allow you to clean and improve your house with ease and efficiency." This mission statement is quick, and it relays to the customer what they can expect the devices to do and what competitive benefit those devices give them.
Dyson's goals and objectives are the following, according to the link provided: to make life easier for its customers, to provide real solutions to improve existing products, and to make mundane tasks such as cleaning the house more exciting and enjoyable.
A business portfolio is a collection of the products a business offers. Dyson has a variety of products, from cutting-edge vacuums (e.g., wireless, handheld, upright) to hand dryers and blade-less fans.
A marketing mix is a company's utilization of certain aspects of marketing to create a promotional campaign, emphasizing some combination of the following: availability, price, functionality, and brand recognition. At this point, Dyson is becoming more able to lean on brand recognition, but it tends to focus a great deal on functionality, emphasizing the quality and efficiency of its products, particularly because they are typically at a higher price point than its competitors' products.
Dyson certainly appears to be a customer-centered company. It channels a great deal of effort and innovation into creating higher-quality and more efficient products than are currently offered. It also spends a great deal of energy addressing questions and complaints, attempting to interact with every customer as well as possible.
A market-oriented mission statement for Dyson:
First, a mission statement clearly states what the business wants to accomplish. A market-oriented mission statement is one which focuses on how a business can satisfy basic consumer needs such as ease of use, durability, and functionality. A market-oriented mission statement for Dyson could look something like this:
Our products make it easy for you to accomplish mundane, everyday tasks promptly, effectively, and efficiently.
In my example above, the business is telling consumers that Dyson products can make their lives easier and more satisfying. Of course, there are many ways to write a market-oriented mission statement. I provide the above as just one example.
What are Dyson’s goals and objectives:
From the handout you included, Dyson's goals and objectives are listed as follows:
a) To deliver real consumer benefits that make life easier for customers.
b) To improve on existing products for the purpose of providing real solutions to current consumer challenges.
c) To inspire excitement about products that perform mundane tasks.
Does Dyson have a business portfolio? Explain:
The answer is yes. A business portfolio is essentially a collection of brands, investments, products, and services provided by a company. Dyson's business portfolio consists of a wide selection of vacuums, fans, and hand dryers. This includes products like the Airblade Tap (a touch-free faucet that washes and dries hands) and the Air Multiplier (a bladeless fan).
Discuss Dyson’s marketing mix techniques and how they fit within the context of its business and marketing strategy:
A marketing mix constitutes a set of tools a company uses to elicit a positive reaction from consumers. Such a mix would involve cost (affordability), solutions to existing consumer problems (functionality), convenience (accessibility), and brand awareness (promotions).
Now, let us return to Dyson. Recall that its corporate objective is to develop products that help consumers accomplish mundane, everyday tasks promptly, effectively, and efficiently. In order to elicit a positive reaction from consumers, Dyson uses marketing techniques that emphasize its ability to deliver on its corporate objective.
Instead of resorting to slick promotional ads, the company focuses on emphasizing product quality and function. Essentially, Dyson focuses on telling potential consumers why they need its products, what the products can do for them, how the products can make mundane tasks easier, and how the products can make their lives more fulfilling. Dyson relies on product reviews and social media tweets about its products to reach a vast audience. Dyson markets the same way its products perform: simply and efficiently.
Is Dyson a customer-centered company? Explain:
The answer would be yes. Its main focus is on developing products that address specific consumer points. Dyson does it with style. Here's an excerpt from your handout:
The Airblade Tap provides clearly communicated solutions to everyday problems—solutions that make life easier. It solves those problems in ways that no other product has ever attempted, claiming to “reinvent the way we wash our hands.” And it injects style into an otherwise boring product. Dyson sums it up this way: “Washing and drying your hands tends not to be a very pleasant experience. Water splashes, paper is wasted, and germs are passed along. The Tap is a totally different experience. You have your own sink, your own dryer.”