This paper is published in Volume-10, Issue-4, 2024
Area
Economics
Author
Soha Mehta
Org/Univ
The Cathedral and John Connon School, Mumbai, India
Keywords
Exceptions to law of demand, Law of demand, Innovation, technology, home appliances, personal care products, vacuum cleaners, high quality, research and development, consumer, strategy, engineers, competitive markets , premium prices, high product variety, expensive, sustainable and durable, experiment, electronics, commercial, design
Citations
IEEE
Soha Mehta. DYSON- An Exception to the Law of Demand, International Journal of Advance Research, Ideas and Innovations in Technology, www.IJARIIT.com.
APA
Soha Mehta (2024). DYSON- An Exception to the Law of Demand. International Journal of Advance Research, Ideas and Innovations in Technology, 10(4) www.IJARIIT.com.
MLA
Soha Mehta. "DYSON- An Exception to the Law of Demand." International Journal of Advance Research, Ideas and Innovations in Technology 10.4 (2024). www.IJARIIT.com.
Soha Mehta. DYSON- An Exception to the Law of Demand, International Journal of Advance Research, Ideas and Innovations in Technology, www.IJARIIT.com.
APA
Soha Mehta (2024). DYSON- An Exception to the Law of Demand. International Journal of Advance Research, Ideas and Innovations in Technology, 10(4) www.IJARIIT.com.
MLA
Soha Mehta. "DYSON- An Exception to the Law of Demand." International Journal of Advance Research, Ideas and Innovations in Technology 10.4 (2024). www.IJARIIT.com.
Abstract
Dyson has dominated several markets and continuously reinvented itself. Inventor and engineer James Dyson officially launched Dyson in 1991. With a net worth of over $9.2 billion, Dyson is now the fourth richest British person in the world according on the 2022 Forbes Rich List. Initially, the firm concentrated on creating cutting-edge hoover cleaners that were intended to clean more effectively and efficiently than conventional versions. In addition to hoover cleaners, Dyson has kept up its innovative streak and expanded its product range. Other home devices that the business has created include hand dryers, air purifiers, and lighting items. With the 2016 release of its Supersonic hair dryer, it has also entered new areas, such as those for personal hygiene and cosmetics. In its thirty years and counting, Dyson has proven over and again that it can invest in and nurture innovative ideas while still turning a profit as a company. They have now been successful in creating a brand that is applicable to several industries. Their unwavering focus on the smallest details, excessive over-engineering for daily chores, and exorbitant price points have given rise to a novel idea: the "appliance as a status symbol."