Marketing Fundamentals: Analysis of Dyson Corrale Hair Straightener's Performance

This article analyzes the external factors affecting Dyson Corrale hair straightener's performance in the market and discusses marketing fundamentals such as evaluation of the external environment, STP, buying process of consumers, and product anatomy.

MARKETING
FUNDAMENTALS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1: Evaluation of external environment.........................................................................................3
2: STP...........................................................................................................................................4
3: Buying process of consumer....................................................................................................5
4: Product anatomy......................................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................1

INTRODUCTION
Marketing fundamentals is the analysis of company's external factors which affect Dyson
Corrale hair straightener's performance in the market. This performance of product is analysed
with the help of theoretical implementation and its effectiveness.
MAIN BODY
1: Evaluation of external environment
External environment
Political-
The company is following the policies and regulations which the government has put in
the company so that there are going to be higher brand reputation in the market. The labour laws
and customer right are being focused upon by the company so that there is going to be higher
functioning.
Economical-
The business is going to be very successful since the company is following the
competitive pricing which is going to impact on the profitability and further plans and
investment can be possible by the company (McLean, 2019). The unemployment rates are falling
and GDP of the country is improving which is a great factor for the organization.
Social-
The lifestyle of the population is improving and the products which Dyson is providing is
a very basic one which can help the company is able to make a place for themselves in the
market effectively and efficiently.
Technological-
The products of Dyson are technology friendly and require a lot of improvement for time
to time because technology in the market is improving with time as well. The customer’s
demands are also increasing and to be able to match that the company will have to take measures
in order to be able to make a place for them in the market.
Porter five forces
Bargaining power of supplier-

The raw material is easily found therefore the organization has selected a multiple
suppliers for the organization to have so that there are going to be higher performance which is
going to be present.
Bargaining power of customers-
Customers have a strong place for themselves in this industry because this is a basic need
and needs to be innovated according to the customers so that there are going to be higher results.
Competitive rivalry-
The rivalry is high in this industry therefore the company will have to keep analysing the
competitors in the market effectively so that there are more actions which the organization can
take for having higher outcomes.
Threat of substitute-
There are a lot of competitors which are present in the company therefore it is easy to
find substitute for the products of Dyson in the market. Customers can shift from one
organization to another very easily which needs to be well maintained so that the company will
be able to operate effectively and efficiently in the market (Taylor, 2017).
New entrants in industry-
There are not going to be a lot of enters in this industry since the company has made a
strong place for themselves in the market which is a great factor for the organization to have.
Dyson has been able to gain a strong market base and functioning for themselves which is going
to make the organization have a stable functioning.

2: STP
Segmentation-
Dyson is a cosmetic product provider which provide beauty products to its customers by
using premium pricing due to which it has to implement market segmentation which will provide
it an ability to identify its potential customers. For segmenting its market place Dyson
implements several market segmentation techniques like geographic segmentation, psycho
graphic segmentation and behavioural segmentation (Visser, Sikkenga and Berry, 2019). Since
Dyson is multinational organization therefore it is important for company to efficiently
implement geographic segmentation such that it is able to understand customer requirements of a
specific location. In case of geographic segmentation market place is divided on the basic of
nation, region, urban and rural. This type of segmentation enable it to implement psychographic
segmentation in which customers are further divided on the basis of their lifestyles and their
expenditures. This is important because products are priced on this basis and it has a direct
impact on company's profit margin. It is important because if product pricing is set irrespective
of customer's behavioural segmentation then it may make a negative impact on economic growth
of the organization. It happens because in behavioural segmentation customers are segmented on
the basis of their occupation, loyalty status, attitude and benefits sought which make a
considerable impact on their expenditures.
Targeting-
This step arises when company is able to identify the specific segment of the society
which it has to provide its services then arises targeting in which customers are classified into
further group which enable organization to specific customer targeting strategy. In case of
undifferentiated marketing organizations like Dyson doesn't specify its marketing on attracting
the selected segment but instead it develops a unified method in which all the potential
customers are targetted and are shown a same message. Through this company make sure that a
same high level of brand message is showcased, this is effective strategy for portraying brand
values but on the other hand it is not much effective for attracting customers. Differentiated
marketing, is much advanced than undifferentiated marketing in which marketing strategies are
developed in such a way that it concentrates on attracting specific segments of customers as per
their needs (McLean, 2019). This will be beneficial for Dyson because through this it can
increase the chances of customer attraction because in this type segments of customers are

assured that company's product is able to fulfil their requirements. However concentrated
marketing may be use by organization because it gives a concentrated control over targetted
audience, but since company is having large number of customers due to which it would not be
effective and very complicated.
Positioning-
When Dyson is able to group its market place into various small segments for developing
specific customer attracting schemes then arises this step in which positioning of product is done
in front of customer by which high brand awareness can be spread. For positing company may
use creative marketing strategy for effectively portraying high brans value in front of its
customers (Ivanov, 2016). This will empower Dyson to gain a competitive edge over its market
competition due to which it can reduce the chances of brand switching and at the same time
maintain its existing customer count. For achieving this it has to improve the communication
bridge with its customers through various methods like social media, which is cost-efficient and
at the same time must more efficient that traditional communication's means. This will enable
Dyson to develop a high level of brand value by increasing brand awareness resulting a better
performance on the ground which will lead to increment in organizational sales.
3: Buying process of consumer
It is important for organizations like Dyson that they are able to attract wide range of
customers towards the organization by which it can be able to efficiently tackle the market
competition by maintaining its existing customer count. Thus it is important for organization to
understand the changing market trend and at the same improvise its performance as per
customer's requirements. In order to achieve this company has evaluated the decision-making
process of customers which will provide it a framework for developing organizational working
strategy (Vilá Trepat, 2016). Following are the decision-making factors which are implemented
by customers.
1. Need Recognition-
It is one of the most important factors which arises at the customer side in this customer analyse
the activities happening at its side and on that basis it evaluate the type of requirements which is
needed for improve its working capabilities. Thus this requirement motivate customers that they
want to invest some capital by which they can achieve their objectives. Thus it is important for

Dyson to analyse the requirement of customers by which it can provide the type of service or
product that best suit their requirements. Through this activity company increases the
possibilities of increment in organizational sales.
2. Search for alternatives-
Once the need is identified by customers then they are motivated for investing some capital
for requirement fulfilment, by due to high market competition there are wide range of similar
products due to which customers can choose products as per their requirement and budget. For
which Dyson has to monitor its competitors and their market strategy, through this analysis of
competitors company can identify the level and product quality of its competitors (Melara San
Román, 2017). It is important because pricing of product and quality in development is set as per
that, this will give a competitive edge over other competitors.
3. Evaluation of alternatives-
This is the comparison stage in which customers analyse their alternatives which best suit
their requirements and budget for purchasing the product. In this stage customers do market
survey which empowers them to get a base line pricing of their alternatives and with that at this
stage customers at the same time evaluates the features which they are getting in minimum
expenditures. This becomes important for Dyson because till this stage customers are aware of
features which they can get in minimum expenditures. In other words it is the responsibility of
organization to provide additional features by which customers can be assured that they are
getting something new.
4. Purchase decision-making-
In this stage the buying imagination becomes a reality and customer make some
investment and purchase the product by which they are able to own the product as per
their requirement. This is a critical stage because in this stage although customers is
making transaction but at the same time they are assured that this transaction will be easy
to make. Thus if inconvenience arises at this stage then customers may not purchase the
product, therefore company has to make sure that it is able to provide alternative buying
procedures to customers by which if customers fail to pay from one method then they are
still able to pay through other means.
5. After the purchase analysis-

Once the customer has purchased company's product then this sage arises in which they are
empowered to evaluate the quality of product as per their requirements and thus they are able to
provide feedbacks regarding their experience with the organization. This stage can be used by
Dyson for maintain customer's engagement with organization in which company can improve its
communication bridge which them through which it can reduce the chances of brand switching
(Rainmaker, 2017). With that company can also increase their loyalty towards the organization
which will enable to organization to maintain its customer count.
4: Product anatomy
Product anatomy is very beneficial since there are a lot of offers are being provided by
the organization. There is going to be an effective layering of the planning and structure is going
to be present in the company which is going to make the economic stability in the market which
is going to make the organization have higher reputation.
General product-
At this stage product contains the basic properties which are required by the customers,
after the fulfilment of this stage the product will be able to fulfil the requirements of the
customers thus in this case it is a hair straightener. Therefore it must have basic properties of hair
straightener, which will motivate customers to consider this product for buying because it has the
ability to fulfil their requirements. It is important for Dyson to develop a product which is able to
fulfil customer's requirement through this they can sure that they are able to increase their sales.
Expected Product-
This stage arises when customers are having some expectations of features which will be
additionally provided by the organization this expectation of customer for getting more is
beneficial for organization because it ensures high sales. Thus it is important for organizations
like Dyson that they ensures their customer that they will be getting best in quality product which
is able to fulfil their present and future requirements. Therefore in order to achieve this company
has to take feedbacks from its customers regarding the experience which they have while
utilizing the products. This will not only increase customer's engagement with organization but
also at the same time increase their loyalty towards the organization.
Augmented Product-

This level is achieved when product is able to surpass the general and expectation level of
customer satisfaction. This will ensure customers of Dyson that they are getting best in class
product which is not only able to fulfil their requirements but has to additional features which are
beyond the expectations of the customers. For achieving this Dyson can take feedbacks from its
customers and can develop a product which contains features from customer requirements but
additional to surpass other market competitors (Kimball, 2019). This will ensure organization to
gain high profit margin because customers are getting best in class products.
Potential Product-
The products of the organization need to be sustained and also needs to be improved from
what it was today. Dyson is always improving their products and services so that there are going
to be making the right decisions in order to be able to have better satisfaction level of the
customers which is going to make the organization have higher performance (Grubor and Jakša,
2018). Currently Dyson is having a very stable functioning and performance in the market so that
there are going to be higher satisfaction of the customers.
CONCLUSION
It is concluded that company must customize its working according to changing needs
and changing buying procedure of customers. By which it can improve its performance in front
of customers which will increase its organizational sales.

REFERENCES
Books and journals
Grubor, A. and Jakša, O., 2018, September. Social Media Marketing: Engaging with Consumers
in Digital Era. In 2018 ENTRENOVA Conference Proceedings.
Ivanov, S., 2016. Economic and marketing fundamentals of hotel chains. In The Routledge
Handbook of Hotel Chain Management (pp. 45-52). Routledge.
Kimball, B., 2019. The Enhancement of Learning Outcomes in a Marketing Fundamentals
Course Through Innovations in Coursework Content and Delivery Mode. Business
Education Innovation Journal VOLUME 11 NUMBER. p.171.
McLean, G., 2019. Digital Marketing Fundamentals.
Melara San Román, M.D.P., 2017. Introducción al marketing/Marketing fundamentals.
Rainmaker, P., 2017. Online Marketing Fundamentals: 100% Authentic, Real-World Knowledge
To Help You Grow Your Online Business.
Taylor, H., 2017. B2B marketing strategy: differentiate, develop and deliver lasting customer
engagement. Kogan Page Publishers.
Vilá Trepat, I., 2016. Introducción al marketing/Marketing fundamentals.
Visser, M., Sikkenga, B. and Berry, M., 2019. Digital Marketing Fundamentals: From Strategy
to ROI. Routledge.
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