Big goals keep vision in focus
David Perry -- Furniture Today, November 28, 2011
LEXINGTON, Ky. - Memory foam leader Tempur-Pedic thinks big when it comes to goals.
"Our goal," the company says, "is to become the world's favorite mattress and pillow brand."
Tempur-Pedic is well along in meeting that goal, and may have already reached it, but company officials aren't claiming the realization of that vision just yet.
But they are laying out a roadmap for how they will continue building their premium bedding brand:
► Make sure everyone knows they would sleep better on a Tempur-Pedic bed or pillow. The company's ubiquitous advertising is spreading that message.
► Make sure there is a Tempur-Pedic bed and pillow that appeals to everyone. Five years ago, company officials noted, the Tempur product line was not broad enough to make this claim. Now it appeals to far more consumers, they add.
► Make sure that Tempur-Pedic is available to everyone when and where they want it. The company has about 8,000 retail doors in the U.S., and the brand is also being sold online. Furniture/Today ranks Tempur-Pedic as the No. 25 U.S. bedding retailer, based on direct sales of $50 million in 2010.
► Make sure Tempur-Pedic continues to deliver the best sleep. The company is spending about 1% of its sales on research and development to make sure its products offer industry-leading features and benefits. That is more than $10 million per year.
► Make sure its cost structure is "optimized" to enable the company to continue making heavy marketing and product investments. That principle guides the company's business plans, says Rick Anderson, president of Tempur-Pedic North America.
Another underlying principle driving the company is the assertion that "people who sleep on Tempur sleep better than those who don't." Tempur-Pedic believes that - and so do a great many of the consumers who sleep on the company's products, as the company's advertising makes clear.