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102180 - Brand Strategy of Philips | Case Study

   

Added on  2020-03-01

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Running head: CASE STUDY Brand Strategy of PhilipsName of the Student:Name of the University:Author note:
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1CASE STUDY Introduction Philips, the big name in the technology sector is a Dutch company whose soleconcentration lies on electronics, healthcare, and lighting. Founded in Eindhoven by GerardPhilips, it is one of the largest electronic companies in the world. With more than 100 thousandemployees across 60 countries worldwide, it is also one of the largest producers of lightingproducts in the world (Merchant and Rose 2013). Brand management and planning is theanalysis of how the brand is anticipated in the market. In this report, brand management ofPhilips will be discussed along with an overview on how different strategies of branding arefollowed by the origination to accomplish sales goals. Brand Architecture StrategyThe strategy is an out- inside approach to organize the brand offerings of thecompany. The brand is made on the structure. From the point of view of internal structure, it hasbeen pointed out that the brands existing services and products are in the mode of interplay withone another. The point of view is creating criteria through the help of the extension that can be
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2CASE STUDY perceived. Externally, this process combines within the development of the framework, whichcan be perceived (Rosethorn 2016).An unrefined brand architectural strategy of Philips, which is much before the year 1995,led to the failing of recognizing the products’ breadth by the customers. Higher costs, whichinvolved marketing and branding resources, are also affecting the brand image of the company(Hillenbrand et al 2013). Philips with its brand name “One Philips” failed to attract manycustomers due to the problem in the internal communication. By taking a profitable amount oftime in order to maintain proper sophisticated structure, the upcoming risks could be mitigated.The optimization of the expenditure is a way to allow the company’s brand to enjoy a new brandawareness and a struggle to improve the image of the brand. Likewise, Philips also realized toclarify and redefine its brand image. This resulted to the end of “One Philips” and the beginningof the era of “Sense and Simplicity” and then again reinterpreting into “innovation and you”.Accordingly, Philips had also streamlined the various divisions of the product into the threeparts: consumer products, lighting and healthcare. There are types of Brand ArchitecturalStructures, which include house of brands and branded house. Philips features Branded housestructures, which contains the services, and products that bear the brand name of the organizationin order to motivate communication value and purchases. Brand Potential It includes the vision of the brand which incorporates the view of themanagement’s potential based on long- term which is influenced by the improvements of thefirm and has the ability to give recognition to the possible and current brand of the future. TheBrand boundaries are the way to identify the products and the brand who should offer the
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