Over the years, the company has evolved from a one-man operation with a single product concept to a global technology firm with over 1000 engineers. Engineers and scientists make up part of the company’s ever-expanding team. More of them means more ideas, which means more invention. Dyson had over 12,000 employees worldwide as of February 2018.
Before going through the SWOT Analysis of Dyson, let’s see about the competitors of Dyson.
About Dyson Company
Dyson Limited, headquartered in Malmesbury, England, is a British technology company founded in the United Kingdom by James Dyson in 1991. It’s a Technology company that makes air purifiers, vacuum cleaners, hand dryers, bladeless fans, hairdryers, heaters, and lights. Dyson Ltd has expanded globally, with items distributed in more than 50 countries, including Spain, Canada, Belgium, France, the Netherlands, and Germany. Decide to export to competitive markets like the United States, China, and Japan. Despite this, Dyson Company continues to thrive in competitive markets, and its profits are increasing year after year.
Over the years, the company has evolved from a one-man operation with a single product concept to a global technology firm with over 1000 engineers. Engineers and scientists make up part of the company’s ever-expanding team. More of them means more ideas, which means more invention. Dyson had over 12,000 employees worldwide as of February 2018.
Since we have known about the company let’s see about the competitors of the Dyson.
Dyson company main competitors
Dematic, Hoover, Electrolux, Business.com and iRobot are some of Dyson’s key competitors. In comparison to its competitors, Dyson ranks second in Product Quality Score. With CEO Rankings, Product & Services, NPS, Pricing, Customer Services, Overall Culture Score, eNPS, Gender and Diversity Scores see how Dyson compares to its competitors.
https://www.comparably.com/companies/dyson/competitors
https://craft.co/dyson/competitors
SWOT Analysis of Dyson
SWOT analysis, which looks at strengths, weaknesses, opportunities, and threats, can help you see the positives and negatives of “Dyson” more clearly. However, the current position of “Dyson” is more obvious as a result of that analysis.
1. Strengths of Dyson
- Innovative products-The most important strength of the company. James Dyson considers innovation to be a way of life. Many household appliances, such as air purifiers, vacuum cleaners, hand dryers, bladeless fans, hairdryers, heaters, and lights, are designed and manufactured by Dyson.
- High Quality- All Dyson products are meticulously designed and manufactured. They are of excellent quality, and each product is subjected to a thorough inspection.
- James Dyson Foundation-The James Dyson Foundation was founded by James Dyson to encourage young people to pursue careers in engineering. They accomplish this by visiting schools and universities and holding workshops for students.
- Huge Workforce-Around 12,000 Dyson employees work for the company all over the world. Each of their employees plays a role in the product’s success.
- Research and Development- Dyson’s success is largely due to its research and development efforts. Dyson headquarters conduct the initial research, design, and development of Dyson technologies. The research team works hard daily to find new ways to create new products and improve existing ones. Every aspect of research is given careful consideration.
- Great Designs- For each product, Dyson creates new and fantastic designs. Each product is one-of-a-kind and made with vibrant colours that complement the design and the products.
- A Strong Team – The Dyson team is driven, and its members possess a wide range of skills.
- Strong UK Awareness-Dyson has a strong presence in the UK market, as its products are well-liked by the locals.
- Great Technology Usage – The Dyson team is enthusiastic about digital and mobile markets
2. Weaknesses of Dyson
- High price- When compared to its competitors, Dyson’s products are a little more expensive. This could be a major flaw for the company, as they may lose customers as a result.
- Lawsuits and Controversies- Amway, Qualtex, Vax, Samsung, and Excel Dryer had filed a lawsuit against Dyson. Dyson sued Amway in 1985 for allegedly copying its design. Dyson also sued Qualtex, the manufacturer of the part, for copying the design. There are a few more examples of Dyson’s reputation being tarnished by controversy.
- Washing machine failure- Following the huge success of his vacuum cleaners, James Dyson decides to create a new, innovative washing machine. That contrary draw formator washing machine was not a big hit because it cost the company money instead of making money. The machine’s price was lower than the cost of production, and the company was unable to profit from it.
3. Opportunities for Dyson
- Global Expansion- Dyson is a multinational corporation that sells its products in more than 50 countries. First and foremost, Dyson’s profit doubled as a result of global export. The business establishes a positive brand image. The expansion also makes it easier to compete with competitors. In addition, China became Asia’s fastest-growing vacuum cleaner market, allowing Dyson to thrive in a highly competitive market.
- Enhancing Product Features – Dyson can improve its products by adding new features. This will satisfy the demands of the customer. As a result of this, customers would have a more good experience.
- Online Presence – Dyson has allowed customers to shop from a variety of retailers.
- Meet customers’ needs – Dyson’s mission is simple: to find solutions to common problems to make people’s lives easier. Customers would be more likely to trust the company and thus become loyal as a result.
- The economy of scale – By the year 2000, the company had grown into market dominance thanks to increased sales of Dual Cyclone vacuum cleaners. Dyson sells 100,000 units per month in the United Kingdom, making it the market leader in Europe with 20% of the market.
4. Threats of Dyson
- Market Fluctuations in the United Kingdom- The housing market in the United Kingdom has always been prone to swings. This causes a significant risk to the business.
- Cheaper Products – The company faces a serious threat from cheaper products on the market. Customers are more likely to purchase lower-cost products that could harm Dyson’s business.
- Strong Competitors- Dyson is up against stiff competition. Competitors have a strong brand and can pose a serious threat to their business.
- Delay in Product Launch – When a product is delayed in being released, it poses a significant risk because competitors may release a similar product at the same time.
Last but not least let’s know more about possible solutions and strategies.
Possible solutions and strategies
There are 3 main types of strategies in Dyson.
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Porter’s five generic competitive analysis
Dyson began with a focused differentiation strategy, offering only one product – vacuum cleaners – to serve a niche market in more geographic regions, but has since expanded its portfolio to include vacuum cleaners, air treatment, hairdryers, and lighting, among other products.
Dyson has differentiated itself in the following areas:
- Supply chain activities. Their manufacturing facility in Malaysia is close to the suppliers of their components.
- Product R&D: Dyson Plough back most of its profits to R&D to introduce more innovative products
- Production R&D and technology-related activities
- Manufacturing activities
- Marketing, sales and customer service activities
Dyson’s high-end products excel in terms of design and innovation. Some of their features are superior to those of competitors’ products; for example, the Dyson D6 stick vacuum is cordless and weighs less than its nearest competitor.
Dyson’s main strategy revolves around radical innovation and testing until the technology is perfected.
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BCG Matrix
The BCG matrix can be used to analyze Dyson’s present product portfolio and provide insight into its future strategy.
With the global vacuum cleaner market poised for expansion. Dyson vacuum cleaners belong in the premium segment because their market growth and market share are relatively high when compared to the premium market segment alone. Dyson’s hand dryers, which are the #2 players in a high-growth market, also belong in this category.
Although the fan market is growing rapidly, Dyson’s share of the global fan market is small, putting this category in the question mark. Dyson’s hairdryer contrary draw format raw from and lighting was only recently released, so it’s too soon to say where they fit into the BCG matrix.
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Ansoff’s Matrix
Dyson is currently in the market development strategy period of Ansoff’s matrix because their existing product line has expanded to new geographic locations.
Dyson has struggled to compete with lower-cost competitor products due to a lack of a proper brand-building strategy that could have kept customers loyal. For lifestyle products like these, a combination of rational and emotional appeal should be used. Another failure is their high-priced washing machine, which failed to deliver on its promises.
Conclusion
Dyson is a well-known technology company in the world. The Dyson company continues to prosper, with profits rising year after year after expanding its business into the most competitive markets like the USA, China and Japan. So here, in this blog, we’ve learnt about the SWOT analysis of Dyson. We analysed the strengths and opportunities of Dyson and the weaknesses and threats Dyson has to face and the strategies to overcome those weaknesses and threats.
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