"Unlock the future with the power of light".

Philips a multinational brand of lights which has expanded itself in the field of health care also......also has been a world's largest electronic company ....it is improving day by day .....by innovating new products by targeting new young generation.....they are not trying to compete with the increasing competition but also are innovative .......

Let's see it's marketing mix...!!

Marketing mix of Philips:

• Product strategy of philips:

The zeal to find and launch new products has reached its peak as various companies are competing against each other to reach new heights in the electronic industry. Philips has employed advanced engineers as well as latest technology to manufacture better and new items so that the daily lives of the consumers become much easier.The product portfolio of Phillips consists of three segments– Consumer Lifestyle, Lighting and Healthcare.Under healthcare its products include

• Clinical informatics
• Patient care and clinical informatics
• Imaging systems
• Defibrillators
• Diagnostic monitoring

Philips has introduced a patient monitor that helps patient’s mobile monitoring.

Under consumer goods its product portfolio include

• Color television that are available in various sizes like fourteen inches, plasma twenty-nine inches and twenty-five inches
• Transistors
• Electronic shaver
• Audio Equipment like transistors, MP3 Player
• Electronic Toaster
• DVD Player
• Lightning goods like lamps,tube lights, luminaries, Lightning services and solutions

The company has also introduced a revolutionary iron that uses the technology of steam for ironing of their clothes at low temperatures. The brand has become number one in irons that are available in the world. It has also developed healing light blanket to wrap the babies. This has helped in Bilirubinemia treatment processes.

Philips has also joined hands with other companies to develop new and better products. It has twenty such ongoing partnerships at present. The brand has fifty thousand patents registered under its name, with sixty three thousand rights for designs and thirty six thousand trademarks also registered under its brand name.

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• Price strategy of philips: 

Philips faces tough competition from Sony, LG, Videocon, Samsung etc. As the numbers of competitors are more in the electronic industry therefore Philips follows a competitive pricing strategy in its marketing mix for its products. The reason for this pricing strategy is because buyers (consumers) have more bargaining power and can switch brands easily. Philips always focuses on providing best quality products to its customers as pricing are nearly same by all competitors. Philips also charges high prices for its new and innovative products that are not in the competitor’s product line like electric shavers, airfryers etc. Philips also sometimes follows flexible pricing policy and gives discount on its products mostly sold through ecommerce websites. For its business division of Healthcare and lighting the company charges premium pricing strategy for its innovative products and solutions.

• Place strategy of Philips:

Philips sells its products in over 60 countries around the globe. The company uses both direct and indirect distribution channels. Philips has its own branded stores in places that sells and provides services for its products. The company also uses local distributors and sales force to connect with the customers. Philips has more than 950 strong channel partner networks, more than one million retail outlets across India present across 2993 cities and towns. For its professional businesses (Healthcare and Lighting division), the company directly engages with lighting specialists, contractors to intensify its distribution network. Philips has also paid special attention to enhance its distribution network in rural and semi urban areas by tying up with small retail stores to increase its brand awareness. Philips also uses online platform to sell its products.

• Promotion strategy of philips:

Philips uses omni channel to promote its brand and products. The company is engaged in promotional activities on TV, radio, print, social media, events and sponsorships as a part of its marketing mix. Philips has hired some famous celebrities like movie stars for its promotion. to endorse the brand. Philips also offers discount cards and coupons as a part of its sales scheme. Philips also engages in sponsoring various events and sports team like Australian Rugby, F1 race and India Commonwealth games. Philips also sponsors ‘Monster of Rock Festival’. The company is also active on social media like Facebook, Twitter for resolving customer’s issue and better connectivity with people to increase brand awareness. Philips has also launched integrated marketing campaign to promote its brand proposition ‘innovation and you’ and concept of green energy to make people’s life better which was well received by audience.