Dyson Exchange Limited was founded in 1993 by James Dyson, an art school graduate who took a creative approach to solving problems. The sole shareholder in the entity, he now is worth over a staggering £1billion and the managing director of a business that took in £1.5billon turnover in 2012 as reported by the BBC (anon. 2012). However, it has been far from simple for Dyson to survive in the competitive market of household and business appliances, shown through Porter’s framework. Two of the greatest issues that face the company is the threat of substitution and competition, shown in the table on p.117 in Exploring Strategy: Text and Cases . One of Dyson’s best selling products, the vacuum, has many competitors such as Hoover, manufactured by Floor Care Technology Limited, Electrolux and Miele. The cheapest standing-up vacuum available from Dyson comes in at a hefty £299.99 in comparison to Hoover’s £59.99 Discovery Upright Vacuum Cleaner, hence, especially in a collapsed economy, people will be more inclined to purchase something more inexpensive in the competitive market. Dyson has been criticised for the high prices of their bladeless fans which have been sold for a starting price of $300, in comparison to a standard fan found in stores, which start at £10. Hence, there is high buyer power due to the low, competitive prices of other brands . Although, in recent years, Dyson have attempted to make themselves more competitive with their prices, by producing parts of appliances in Asia, instead of the UK where it is more expensive to employ labourers, bringing the overall manufacturing price down and making the entity more global. James Dyson was quoted saying it was not a simple choice to partially transfer to Asia, but was one that was needed to be made in order to compete. Nonetheless, Dyson promises creative innovations that have been patented, such as their cyclone technology in vacuums and even the more recent, eco friendly hand driers that promise to save money on electricity bills, and so are seen to have high supplier power. Despite the patents, it has not prevented their market competitors attempting to challenge Dyson, seen through Excel Dryer Corporation ensuring consumers there is less energy used than in a standard hand drier and Hoover advertising “wind Tunnel vacuums”, comparable to Dyson’s cyclone technology . However, Dyson need not be too concerned by new entrants to the market, with it being a difficult to enter and much capital needed in order to manufacture the products. Dyson is the second youngest competitor in the table found on p.117, Exploring Strategy: Text and Cases , being a mere twenty years old with the third youngest, Electrolux, founded in 1910 and the youngest- Excel Dryer Corporation- founded only four years after Dyson . Henceforth, it is proven that very few companies have managed to enter the household and business appliance market proving the difficulties of entering. In conclusion, the greatest porter’s framework factors Dyson must take into account is the threat of substitution and current competition in the household and business appliance market, and must continue its strong supplier power through its pioneering designs.