Frost & Sullivan's recent analysis, North American Air Purification Equipment Markets, selected Lennox Industries Inc., a subsidiary of Lennox International Inc. (NYSE: LII) as the recipient of the 2004 Market Leadership Award. This Award acknowledges the company's exceptional marketing strategies that helped it dominate the North American induct air purification equipment markets.
Every year, Frost & Sullivan presents this Award to the company that has demonstrated market share leadership through the implementation of a Market Engineering strategy. The recipient has displayed excellence in all areas of the market leadership process, including the identification of market challenges, drivers and restraints as well as strategy development, and methods of addressing these market dynamics.
Lennox' established credentials for quality, support, service, and adaptability go a long way in tilting customer decisions in its favor. This ability to win clients' trust had earned the company a sizeable percent of the market revenue in 2004.
Supplementing its role as a traditional supplier of air conditioning and refrigeration equipment, Lennox started incorporating value-added features such as healthier air quality, balanced humidity, quiet operation, even temperature, and consistent airflow in its products. Such creative thinking, complemented by deep insights into customer requirements, has positioned Lennox as a one-stop shop for all indoor air quality needs.
"Lennox has continually invested in R&D and has introduced sophisticated equipment such as filtration plus photocatalytic oxidation (PCO)-based air purifiers," says Frost & Sullivan Research Analyst Sapan Agarwal. "Thanks in part to the air purifiers' ability to eliminate 50 percent of household and chemical odors within 24 hours of operation of a unit, the company has established its technological superiority in the market."
With such intense competition in the air purification equipment market, endorsements from agencies are expected to give enterprises an edge over other participants. Lennox has obtained the approval of agencies such as Good Housekeeping, and Indoor Air Quality Association, Inc., Lennox also offers a warranty of up to five years, further strengthening its customer relations.
The company plans to leverage its domestic designs and capitalize on its trusted brand name to spread its market internationally. Expansion within North America can help Lennox distribute directly to end users, giving it the profit margins available at the retail level, while protecting its brand equity.
"Lennox is a rapidly growing company with a firm strategic plan for global expansion, backed up by the ability to design, manufacture, market, and sell its versatile products," notes Agarwal. "Continued success and growth of the company are also attributed to its flair for benefiting from mass production, even while applying customization to satisfy customer needs worldwide."
About Lennox Industries
A leader in the comfort industry for 110 years, Lennox Industries manufactures residential and light commercial heating, air conditioning, and indoor air quality systems. For more information contact Karen O'Shea, vice president, communications and public relations, at 972-497-5172.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company founded in 1961, partners with clients to create value through innovative growth strategies. The foundation of this partnership approach is our Growth Partnership Services platform, whereby we provide industry research, marketing strategies, consulting, and training to our clients to help grow their business. A key benefit that Frost & Sullivan brings to its clients is a global perspective on a broad range of industries, markets, technologies, econometrics, and demographics. With a client list that includes Global 1000 companies, emerging companies, as well as the investment community, Frost & Sullivan has evolved into one of the premier growth consulting companies in the world. For more information, visit www.frost.com.