Honeywell Portfolio Analysis
Jan 2022 - March 2022
Honeywell is an multinational American conglomerate initially founded in 1885. It is publicly traded and has holdings in multiple sectors – dealing business directly with other companies and consumers. Originally established in Charlotte, NC, its headquarters relocated to Morris Plains, NJ in 2019.
The company invented the predecessors to the modern day thermostat, and patented the first electric motor in 1916. It then delved into heating in 1906, and assisted the Apollo 11 mission in 1969 by supplying the shuttle with parts for 14 separate electronic devices for the Stabilization and Control System (SCS)..
Teammate
Individual Project
Role
Business Strategist
Tools
Illustrator
Overview
The purpose of this analysis is to understand the Honeywell’s current portfolio through its industrial and consumer offerings. Through the competitive landscape and target audiences (new and experience homeowners), insights on recommendations for product line distinction and consolidation will be made.
This analysis will primarily focus on thermostats, in relation to other air quality products and current competitors on the market.
Strategy
Product line definition: Distinguish product lines based on form factor and features. Honeywell products come in a variety of different shapes and measurement, and consistend sizing options will enable consumers to upgrade within the Honeywell thermostat lines more seamlessly.
Consolidate offerings: Begin simplifying thermostat products based on product line definition. Provide consumers with three main models for distinction based on price-point positioning.
Energy-saving as a baseline: Consumers are increasingly demanding for transparency, and how to reduce their bills through efficient heating and cooling. Providing energy-saving features as a core requirement for all Honeywell thermostats will set an expectation for competitors and continue to position Honeywell as a leader in the market.
Next Steps
With Emerson thermostats dominating the low-cost and basic market, consolidating the Honeywell models will allow for control of the mid to high range segments.
These areas will target new and experienced homeowners looking for reliable products that will easily integrate with their home, will some high-tech features.