Maytag is one of the largest American companies located in Iowa USA. Maytag was also founded in Iowa in 1893 by Mr. Fred Maytag and three of his friends and initially specialized in the production of agricultural machinery and the company’s products were transformed into the washing machine industry.
History of the Maytag Corporation
- In 1893 Mr. Fred Maytag and three friends started a small company specializing in the production of agricultural machinery.
- In 1907 the company diversified its production by producing the first washing machine in an attempt to diversify its products so that production would continue throughout the year.
- Mr. Fred Maytag comes from a family in Iowa USA. where he worked as a farmer on a farm in the state.
- In 1909 Mr. Maytag-Fred became the sole proprietor of the company abolished the production line for the agricultural industry and focused on the washing machine industry which produced washing operations that used gasoline and did not require electricity and were very popular in rural areas/USA their market share was in the US Between 1920 and 1930 between 40% and 50%.
- At the end of World War II a company called Bendix had recently entered the market. It produced automatic washing machines that were more efficient in the laundry process than Maytag which was reluctant to switch to automatic washing machines because of its existing product line.
- He produced it and the need for expensive technology caused the company’s market share to drop to 8% in 1954.
- But the company recovered and rose to 15% in 1967 due to publicity and people’s trust in it.
- In 1978 a new manager named Daniel Crum took over the company and adopted an expansion strategy which acquired several other companies before deciding to partner with another company to expand internationally in 1986.
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