Dualits Marketing Strategy Analysis

Dualits merchandiseing Strategy AnalysisOver the next three eld the securities industry place for kitchen returnions and appliances is expected to grow by up to 17.6% (Datamonitor, 2009). This growing grocery brands it the ideal time to be the manufacturer of these goods. Consumers of these goods are looking for products which are both(prenominal) stylish and make to last. Dualit has created a product with has incorporated both these key elements the Dualit NewGen wassailer.Dualit is a British comp whatever which designs and manufactures wassailers and separate kitchen appliances. Founded in the wee 1940s (Dualit, 2010), Dualit is portrayed as a company which offers lavishly t unmatchable of voice and wellspring-engineered products. The first Dualit carouser to be made with a timer and manual(a) eject saveton was created in 1952 and ever since Dualit has continued to produce toasters found on the original design (Dualit, 2010).In this essay Dualits merchandising system entrust be assessed using the 4Ps framework. This framework leaves product, place, price and promotion to be considered (Marketing Teacher, 2010). As well as looking at the companys merchandising mix, their targeting, placement and segmentation lead similarly be evaluated. By considering both of these aspects, alternatives sess be suggested on how Dualit lot improve their strategy. All the information use for this essay will come from secondary sources.Dualit want to be considered as a company which offer risque reference products which are transcgoalent to their competitors (Dualit, 2010). This is illustrated in the way in which they target their customers. Dualit use a identify trade strategy to target their consumers. Using a variousiated marketing strategy allows them to target several markets and design a separate go for each market (Armstrong et al, 2009). Products which use a differentiated strategy campaign to be valued by customers and customers pe rceive the product to be develop than or different from products of the competition. Also, according to Michel Porters model if a company has a corporate re entrapation for quality and innovation like Dualit does, then they will usually use a differentiated strategy (QuickMBA, 2010).Dualit segment their market using psycographic segmentation, this allows Dualit to divide its buyers into different groups based on social class, lifestyle or personality characteristics (QuickMBA, 2010). Dualits 2 deletion NewGen toaster will court to people with a high disposable income that will pay a lot to get a stylish product like the NewGen toaster but who also care about the environment, as the NewGen has a discipline which allows only one slot to be heated. Whereas, the 4 slice NewGen toaster raises more to the commercial users such as cafes and restaurants, who might need to make several slices at any one time. By targeting more than one target market it allows Dualit to increase its mar ket share.After considering their target market and deciding how to segment them, Dualit basin then consider all aspects of their marketing mix and how the different aspects work together.Dualits NewGen toaster sens be disunite into three product levels. These three levels are the core product, the actual product and the augmented product. The core product is the benefits the customer will receive (Kotler et al, 2008). Buyers of the NewGen toaster range will benefit from a product which makes toast but at the same time is compact and stylish and comes in over ten colours convey it will complement al about any kitchen. The core benefits are offered through the components that make up the actual product (Armstrong et al, 2009). The actual product includes styling, features and design. The extra wide slots on the NewGen toaster that allow for nearly all type of bread to be toasted can be seen as a core benefit. The augmented product is built around the core benefits and the actua l product by offering superfluous customer service (Armstrong et al, 2009). Dualit offer a two year piece about on the elements in the toaster and a one year plight on all other parts. Customers are also given a users guild to allow them to see other ways to use their toaster, this slip away is also available from their website. The Dualit NewGen toaster also has replaceable parts meaning that if it breaks it doesnt need to be thrown out, it can be fixed. This means it will last significantly eagle-eyeder than any other toaster. There is no obvious improvement that Dualit could make to the NewGen toaster as it has more features than each other toaster shortly on the market.Dualit make some of the most high-priced kitchen appliances on the market. The NewGen toaster ranges in price from 135 to 195 depending on the size of the toaster and how it is finished ( put-on Lewis, 2010). Dualit appear to use two set strategies. They appear to use product line price, where a company p rices different models within a range at different prices (Armstrong et al, 2009). It is more expensive for a 4 slice NewGen toaster than it is for a 2 slice NewGen toaster this is a perfect example of product line pricing. However, Dualit also appear to use value based pricing as a way of pricing their range, whereby buyers perceptions, not the sellers cost are key to pricing (Armstrong et al, 2009). Dualits toaster whitethorn be super priced but the consumers perception is that the high price means it is high quality. Unfortunately for Dualit many of its competitors offer a similar product in a similar style for a fraction of the price that is sold by the same retailer. Although they dont have as many features as the NewGen toaster, they still do the same job so potential customers may regain it is unnecessary to buy a toaster that costs 135 and purchase a rival toaster instead. Dualit may need to consider lowering their prices if it begins to affect them in the future.The Dual it NewGen toaster hasnt been highly publicised. The only advertize that Dualit does for the range is on their own website. Any other advertising is mostly done by the individual retailers that sell the product. can buoy Lewis currently offer a five year guarantee with all NewGen toasters, this may act as an incentive to potential customers as they feel they are getting more for their money and their product is protected longer. Dualits pretermit of advertising may be a way to reduce costs but in the long run it could cost them potential customers. The NewGen toaster is currently sold out on one of its main retailers website so their lack of advertising doesnt currently seem to be affecting their gross sales but in the future it could, so to increase publicity Dualit may consider taking part in a joint advertising campaign with a premium bread company such a Warburtons or Hovis, which are both popular brands. This would allow Dualit to target a wider market which may, as a result increase their market share.Dualit currently sell their product on their own website and through high end retailers such as John Lewis and House of Frasers, which are as honored but expensive department stores. This enhances Dualits image of being manufacturers of high quality products. Department stores carry a wide range of product lines (Armstrong et al, 2009) which can attract a larger range of customers, so by merchandising their product they may increase their market share. Dualit may want to appeal to a larger target market. They could do this by selling their products in large supermarkets such as Tesco or Asda because thousands of people go to these shops every day. Although this would allow them to reach a larger target marker, it may put off existing customers as they may feel that it takes away from the brands high end reputation. If Dualit did consider this they would have to decide if they would rather gain newfangled customers or risk losing existing customers.Afte r having analysed all the aspects of Dualits marketing mix, it can be seen that although there are a few improvements which they could make to their marketing strategy such as more advertising or quit where they sell the products overall their current marketing strategy is working well as their products are sold out on retailers websites. With the market for kitchen appliances set to largely increase, Dualit may have to consider altering their marketing if they respect to dominate more of this increasing market. If Dualit do decide to change their marketing strategy in the future it should be for the better as long as they continue to make high quality products that out dress their rivals.ReferencesArmstrong, G. Kotler, P. Harker, M. Brennan, R. (2009) Marketing An Introduction. 8th Ed. Essex Pearson program line Limited.Dualit (2010) Dualit Our History. Available at http//www.dualit.com/our-history (Accessed 12 February 2010).John Lewis (2010) Search Results NewGen. Availabl e at http//www.johnlewis.com/Search/Search.aspx?SearchTerm=NewGen (Accessed 13 February 2010).Kotler,P. Armstrong, G. Wong,V. Saunders, J. (2008) Principles of Marketing. 5th Ed. Essex Pearson Education Limited.Marketing Teacher (2010) Marketing Mix. Available at http//www.marketingteacher.com/Lessons/lesson_marketing_mix.htm (Accessed 11 February 2010).QuickMBA (2010) Market Segmentation. Available at http//www.quickmba.com/marketing/market-segmentation (Accessed 12 February 2010).Datamonitor (2009) Kitchen Appliances Global Industry Guide, particular(prenominal) Report, London, The Data Monitor Group