Topics: Marketing, Marketing research, Marketing strategy Pages: 10 (3337 words) Published: May 13, 2013
Phillips: Company Profile
Phillips is one of the multinational companies which hold the reputation in electronics and style. The company is focused mainly on contributing to the improvement of people’s lives through the form of innovations and style, “fashion and style changes and this is innovation” (Jones, 2007). The company became the world leader in healthcare, lifestyle, and lighting. The company was able to integrate technology and hype its design to form a more contextualize design which suits the people’s demand and lifestyle. Inclined to the foundation of customer’s insights and brand expectations, Phillips has been efficient in becoming the company leader in technology where holistic approach has been adapted to raise productivity in the market industry.

Provided by the fact that the company has been the global leader as it was recognized as the expert in product development and innovation, it continue to drive the market to be more inspire in contributing to the increasing sophistication of the market. Phillips has been the pioneer in many facets of the business industry as it created a breakthrough in business and embrace innovative products and process to suits the lifestyle of this generation. The brand strengthened the position of the digital market and transformed it as the company invested more on quality services and outmost product content. Tapping all the market segments, Phillips was able to strategize in business and look for alternative means to penetrate the market across levels.

The Business
Phillips stays focus on improving their process and deliver the market astounding services through the course of their products. The primal context of the business would be to streamline the health and well-being of their consumers. The company stays professional as they meet the consumer market. The business demonstrated the portfolio of innovation by translating customer insights and directs it to more meaningful technology applications which helps improve quality and lifestyle of the people. The business continuously shapes the future as Phillips holds the efficiency to reach their target market and introduce innovative gestures especially to end users of their products and services. Based on the thorough understanding of their consumer’s needs, Phillips gains strength in the market. From good to great services, the business helped the consumers to transform their lifestyle and raise their well-being, “customers also vary widely in their needs, perceptions, policies, and practices”” (Wilson, 2002).

The Vision and Strategy
The vision of Phillips to consistently improve the lives of the people, innovation was seen as the primal element in bringing into the market the profound lifestyle and upholds sophistication in their preferences in products and services. The mission to hype the lives of the people was implemented through meaningful innovations which transcends to the lifestyle of the people. The company envisioned to strive a more engaging company which reflects innovative services that fits the upscale lifestyle and demands of the consumer market. Further, the company heads to raise behavior as they build the reputation of the brand and equip it to create engagement to the people and provide ample awareness of their products and services. Phillips holds ownership of their brand and makes responsible strategies to attend to their market, “makes best decision as regards to business strategies” (Bensoussan and Fleisher, 2008). The Brand

Phillips consistently upholds greater services by means of their brand’s promises to serve with sense and simplicity. The brand has been enthusiastic in reaching for its target market and continuously maintains relationship with them. Penetrating new audience was also the direction of the brand to increase their engagement with consumers and not only focus on one dimension but to cut across the target market in the realm. By doing this, the products and...
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