Royal Philips Electronics Corp Business to Business Marketing

Published: 2021-06-29 06:58:25
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Business to Business MarketingIndividual Firm Study:        Royal Philips Electronics Corp.        Company SynopsisKoninklijke Philips N.V. (Royal Philips Electronics in English) was founded in 1891 as a Dutch diversified technology company for consumer electronics and electrical products (CrunchBase, n.d.). At the end of 2017, it ranked 375 in Fortune Global 500 list (Fortune, 2017), with more than 22 R&D centers, 40 manufacturing sites (Hoovers, 2018) and generated EUR 17.8 billion sales with 73,951 employees across over 100 countries according to the official website (https://www.philips.com/a-w/about/company.html). Philips has three key business units with the largest as Philips Healthcare (Further divisions: Imaging Systems, Patient Care & Clinical Informatics, Home Healthcare Solutions, and Healthcare Transformation Services) contributes more than 45% of the total sales; Followed by Philips Lighting (home, industrial, and municipal light bulbs, fixtures, and systems) for 31% of the total sales; And Philips Consumer Lifestyles (consumer electronics, home & domestic appliances, personal care) for 22% sales (Hoovers, 2018). In terms of Philips’ geographical business clusters, North America is its most matured market generating the highest sales among all others (Appendix I: Table 1) and the Philips Electronics North America Corporation (https://www.usa.philips.com/), founded in 1933 and headquartered in Andover, Massachusetts, is the U.S. subsidiary that oversees the U.S., Canada, and Mexico operations (Bloomberg, 2018).Being a company with over 100-years history that has both B-to-C and B-to-B portfolios, Philips might be initially more well known for its B-to-C household lightings and personal care products such as light bulbs, shavers, and toothbrush. However, since the year 2013, Philips is making efforts to shift its brand image from a B-to-C consumer electronics company to a global B-to-B business company (Drell, 2014). B2B CustomersGiven the three major business divisions – Healthcare, Lighting, and Consumer Lifestyle, Philips’ typical B-to-B clients consist of the hospital, government, EMS, professionals, insurance company, retail store, distributor, and buying group. Using the healthcare division as an example, Philips provides products and services related to clinical solutions, consulting, customer service solutions, product upgrades & trade-ins, and population health solutions. Since 2006 it had over 40 long-term relationships with healthcare providers with some of its current clients (preferably called partnerships) including Augusta University Health (which is a 15-years, 300 million alliance), Mackenzie Health, Marin General Hospital, MUSC Health, WMC Health, Banner Health, Omaha Children’s Hospital & Medical Center, and Phoenix Children’s (Philips, n.d.). To elaborate with the Phoenix Children’s Hospital case, it opened the new $40 million, 42,000-square-foot emergency department and Level 1 Pediatric Trauma Center in 2017 using Philips’ advanced medical technologies/solutions including its imaging system in computed tomography (CT), digital radiography (DR), ultrasound; IntelliVue patient monitors; Clinical informatics solutions; and full range consulting services that enabled the hospital to create an effective yet caring treatment environment (e.g., bedside monitoring) and significantly expanded the pediatric treatment capacity from the original 22,000 children, but with previous year actual visits of 87,000 patients, to accommodate 100,000 patients per year (Philips, 2017).

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