BMP4004 - Analyzing Dyson's Marketing Mix: Contemporary Issues

This report provides an analysis of Dyson Ltd's marketing strategies, focusing on the application of the marketing mix, particularly the 4Ps (Product, Price, Place, and Promotion). It begins with an explanation of marketing and the marketing mix, followed by a brief theoretical overview of the 4Ps. The report then introduces Dyson's V8 vacuum cleaner as the selected product and applies the 4Ps marketing mix to it, discussing product features, pricing strategy, distribution channels, and promotional activities. The analysis highlights Dyson's focus on innovation, quality, and competitive pricing, as well as its effective use of supply chain management and promotional channels. The report concludes by emphasizing the importance of marketing in achieving long-term business growth and success.

Business Management
BMP4004
Contemporary Issues in Marketing
The nature and importance of the
marketing mix within the marketing
process
Contents
Introduction p
1

An explanation of marketing p
An explanation of marketing mix p
A brief theoretical explanation of 4Ps marketing mix
p
Introduction of product/service
p
Application of 4Ps marketing mix to the selected
product/service p-p
Product p
Price p
Place p
Promotion p
Conclusion p
References p
Introduction
2

Business environment has become so innovative and dynamic that it keeps
on changing. Nowadays market is changing so rapidly that the business has to adopt
different marketing strategies (Deepak and Jeyakumar, 2019). Currently, the concept
of contemporary marketing has been adopted by various business due to the rapid
change in the market. This concept includes alteration in the technology, customers
taste and preferences which are current issue in the business environment. This
leads towards the immediate modification in the current product of the business.
Contemporary issues are adopted by the companies in order to know and study
about the problems faced by them in marketing. This particular report deals with the
Dyson Ltd, which is the British international company of technology. The company
also focuses on producing and designing the various appliances of the household.
The following report also deals with the marketing and marketing mix strategies. In
addition to this, the report will also cover about the application of the marketing mix
for the chosen product. A complete brief of the product which is produced by the
company will be also included in this particular report.
An explanation of marketing
Marketing is one of the most important factor that helps business
organization to remain in the market for the long term and develop good image of the
organization in the eyes of the customers. Marketing refers to the selling and
advertising the products to the potential customers (Park, 2020). This is the practices
adopted by companies in order to attract large number of customers towards the
product. This is the activity in which helps to develop good relationship among the
customers and managers. Through marketing, the firm are able to create eagerness
about the product in the mind of the customers. Marketing strategies should be
adopted by all the business organizations in order to gain success and development.
In order to achieve long term goals and success, the business should adopt
appropriate and effectual techniques of marketing. As marketing is one of the
essential element which help the firm to connect with the customers and build good
brand image. Marketing also provides the customers with the good knowledge of
product which can be very important for the business. The marketing techniques are
adopted by every organization who are providing products to the customers. At a
particular time the company can adopt various marketing and advertising strategies
that helps them to advertise the products which the company are offering. As there
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different ways of marketing which the organization can adopt which are traditional
mode as well as digital platform (Iacobucci, 2021). The marketing done through print
medias, billboards, mouth marketing and many are traditional way of doing
marketing. But marketing of the product and services done through electronic
medias that includes social media, websites and many more are digital marketing.
Nowadays as customers are more into the digital platform, so the business
organization prefer to using digital method pf marketing which are cost effective and
better then the traditional way of doing marketing.
An explanation of marketing mix
In order to provide the customers with unique and dynamic product the
respective organization need to adopt different strategies. Marketing mix is one of
the strategies or methods that helps in increasing the sales by reaching out to all
customers. By adopting appropriate and effectual marketing mix strategies, the
owners of the organization targets certain market which leads in creating good brand
reputation of the company (Lahtinen, Dietrich and Rundle-Thiele, 2020). This leads
the company to enhance their sales revenue and remain for the long term in the
market. The business also can rely on this marketing mix strategies so that they can
understand the core needs of the customers. Through this the company can do deep
research in order to target the potential customers and market. In addition to this,
marketing mix also helps the company to achieve the targeted goals which enhances
the sales revenues. Therefore, by adding more several tools in this strategies the
respective firm would be able to analyze the purchasing power of the customers at a
particular time period. Through marketing mix the company can also get good
market position and edge over competitors. This will assists the company to gain
new market and customers which leads in increasing profitability.
A brief theoretical explanation of 4Ps marketing mix
The 4ps of marketing mix are one of the crucial element which assists the
company to offer products and services according to need and taste of the
customers. This 4ps help the respective company to remain for the long term in the
market. This also leads the company to gain competitive advantage in the market so
that they can have good market position which leads in creating good reputation of
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the company. In addition to this, the growth and business sustainability are increased
through 4ps of marketing mix. The 4ps of the Dyson Ltd are mentioned below:
Introduction of product/service
The Dyson's V8 vacuum cleaner is noted as the most famous product due to
the cord free device with no wire attached which makes it hassle free option to use.
The individual can also transform the vacuum cleaner in the way they wish to do
(Purohit, Paul and Mishra,2021). In addition to this, it also involves the time of 40
minutes for running in the non-stop rate. Moreover, it is also designed by using
special anti-fiber of carbon as well as also have soft woven nylon for cleaning the
hard floors. The high quality of vacuum cleaners is the reason behind the success of
the firm. The vacuum cleaner which company offers uses the air pump for
transforming into partial vacuum in order to clean the surfaces in effective manner.
Furthermore, the organization also provides various types of vacuum cleaners
according to the specific needs of the customer. It includes many types like small
battery, wheeled canister and many more
Application of 4Ps marketing mix to the selected
product/service
The brand reputation of the firm is high due to its imaginative as well as
innovative style of thinking. In fact, the main objective of company is to provide high
quality products to customers as compared to their competitors (Fraser-Arnott,
2020). The firm after developing high quality vacuum products has shifted its focus
towards making other home appliance products in the marketplace.
Product
The Dyson firm is the major dealer of home appliances which sells the broad
varieties of different home products. The firm specializes in designing as well as
formulating the high quality batteries as the firm is working on becoming a leader in
battery technology since few years (Novela and Hansopaheluwakan, 2018). In
relation to this, the electronic vehicle and medical ventilators are also included in the
product range of organization but the most famous product of it is vacuum cleaner. In
order to gain attention of maximum number of customers the company also provides
after sale services for free and it also supply warranty cards.
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Price
The firm adopts low pricing strategy in which it sells low priced products
without compromising on quality standards. The management of the firm practices
this pricing strategy for managing the scale and also for connecting with their
suppliers in the regular manner. This ensures in effective chain of supply
management which provides an option for minimizing prices. In relation to this, due
to high competition levels, the pricing strategy of Dyson has impacted in the
strongest manner. The goods made by the company are generally of high quality as
compared to their low pricing strategy (Ang and Rusli, 2018). Furthermore, this
makes the consumer to pay more money as the firm provides highly innovative
products at the lowest price range in the market. Furthermore, the value of products
also made appropriately by considering cost of development, expenses incurred om
producing vacuum cleaners and also covers various miscellaneous expenses in the
price range.
Place
This element of marketing mix includes the right placing of products so that
the customer can easily buy products in the most convenient manner. In the present,
the customers are preferring to buy more on the merchandisers available in different
market areas in the form of both online and offline outlets. So the placing of product
is critical for attracting the large number of customers in effective manner. The firm
should position and supply their products in the manner though which customer feels
more comfortable and relaxed (Issock, Mpinganjira and Roberts-Lombard, 2021).
The sale of products is highly dependent on the type of locations as it is influenced
by many factors like low demand, climatic conditions and many more factors. In
relation to Dyson, the management keeps the optimum supply chain channels for
reaching into the demands of customer present in globalized markets. This can be
considered as the reason for attaining large number of customers in effective
manner. The supply chain of the company also influence its power to supply
products which results in the high financial position. It covers higher than 2 billion
parts of products that are transferred by more than 290 suppliers from the
warehouses to the customers. So, by keeping the effective supply chain network the
organization can easily get an edge from their competitors in the market which leads
the firm to maintain competitive position in the marketplace.
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Promotion
The selection of right promotion strategy is critical as it allows the firm to attain
higher sales by adopting good promotional as well as advertising strategies. By
adopting effective marketing strategies, the firm can market their offerings by
meeting the wider needs of customer present in different market areas. With the
support of these capabilities and characteristics the firm can make better sales
strategy by choosing the best promotional channels (Lim, Jee and De Run, 2020).
The Direct marketing, advertisement through using Television and radio channels as
well as personal selling are the names of few elements covered in this type of
marketing mix. In context to Dyson company, the management has taken into
consideration various strategies for promoting the product values to the customers in
appropriate manner. In addition to this, the company adopts aggressive promotional
strategies along with developing innovative products sufficient for meeting demands
of various customers present in different market. This will also enable the firm to
become more differentiate from the other market leaders. Moreover, the company
also practices the usage of social media platforms which leads the firm to identify
new trends of market in effective manner and also supports it to gather attention of
large number of customers by posting innovative posts.
Conclusion
From the above report, it can be concluded that marketing is very important
part of the business that helps in growth and development in the long term. This also
assists in creating brand awareness in the eyes of the customers about the products.
The above report has discussed about the marketing mix and its 4ps that helps the
firm towards attuning the success. The strategies also also assists the firm to
understand and evaluate the market so that products can be provided to the
customers according to the customer's needs and preferences. This framework is
also lead the company in decision making process so that they can move on suitable
path on order to gain success. The firm requires to use appropriate strategies of
pricing as well as of placing in order to increase the demand of the goods.
References
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Deepak, R.K.A. and Jeyakumar, S., 2019. Marketing management. Educreation
Publishing.
Park, S., 2020. Marketing management (Vol. 3). Seohee Academy.
Iacobucci, D., 2021. Marketing management. Cengage Learning.
Lahtinen, V., Dietrich, T. and Rundle-Thiele, S., 2020. Long live the marketing mix.
Testing the effectiveness of the commercial marketing mix in a social
marketing context. Journal of Social Marketing.
Purohit, S., Paul, J. and Mishra, R., 2021. Rethinking the bottom of the pyramid:
Towards a new marketing mix. Journal of Retailing and Consumer
Services, 58, p.102275.
Novela, S. and Hansopaheluwakan, S., 2018. Analysis of Green Marketing Mix
Effect on Customer Satisfaction using 7p Approach. Pertanika Journal of
Social Sciences & Humanities.
Ang, C. and Rusli, H., 2018. The Impact of Marketing Mix 4Ps and Consumer
Behavior toward Purchase Decision of Adidas Products. iBuss
Management, 6(2).
Issock, P.B.I., Mpinganjira, M. and Roberts-Lombard, M., 2021. Investigating the
relevance of the traditional marketing mix across different stages of change:
empirical evidence from household recycling. Journal of Social Marketing.
Lim, W.M., Jee, T.W. and De Run, E.C., 2020. Strategic brand management for
higher education institutions with graduate degree programs: empirical
insights from the higher education marketing mix. Journal of Strategic
Marketing, 28(3), pp.225-245.
Fraser-Arnott, M., 2020. The marketing mix in parliamentary library
websites. Journal of Library Administration, 60(8), pp.875-888.
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