Launching of LED Lights

CURRENT ISSUE IN PHILIPS-“Launching of LED Lights”

Over the past few years customer’s needs and demands have increased many folds. The market of lighting is very vast with attractive opportunities and on top of it, it is growing radically with the technical advancements happening in the field of research and development.

Over the past 121 years Philips lighting has emerged out to be a global market player. Philips aims to establish its control and position in the lighting digital market through expansion and more investment in the LED lighting technology.

Along with this the company wants to place a brand image of quality and perfection amongst its users in this segment. Being the market leaders and already having a renowned market value Philips is confident of getting a good response internationally by launching their LED lights.

Company is expecting global lighting market to grow by a minimum of 5-7%( compounded annual growth) and the major part of this is expected to be from LED based products which is approximately 45% of the total market share of this.

1.5 LAUNCHING LED LIGHTS IN MARKET

Philips is offering LED lighting solutions for all outdoor and indoor users which include customers from the segments of schools, offices, colleges, industries, hospitals and outdoor clients which include street lights, car lights and other types of stadium lights.

The launch of LED lights is a current issue which will decide the company’s performance in the coming years to come since this is a completely new thing which needs time to be absorbed in the market and the company needs to design strategies to meet customer expectations and deliver them the best. So this technical change is the offering of lighting systems is a major issue pertaining to be scanned in this analysis. Apart from this LED is a revolution rather than a technology in lighting field and starting this revolution is far much better than being a part of it.

LED lighting system is a major step towards implementing and accelerating transformation and Philips believe that being one of the first entrants in this segment will make them the market leaders without an issue.

Following are some of the points which Philips has taken into consideration as a part of launching LED lights in the market-

• To provide meaningful and innovative solutions to the customers, this adds value to their lives.
• To serve the ever increasing urbanization and globalizing economy.
• To fit into the changing lifestyle of people and to add meaning to their needs and desires.
• To enhance life with light is what Philips follows.
• To work towards the social responsibility towards the society and towards the environment by providing more energy efficient sources of lighting this can save the non renewable sources of energy too.

Strategic Marketing- An introduction

Strategic marketing could be defined as the way a company places its value proportion in the market to give the customer an extra value for what he/she pays to get the company’s offerings. In other words Strategic marketing could also be defined as the actions taken by the company to get an extra edge over competitors to win the market share.

The main objective of Strategic marketing is to firmly lay down the differentiating factors of the company’s offering which places it uniquely and distinguishes it from the other competitors so that this uniqueness can help them to captivate the market share.

Strategic marketing is very dynamic in nature and it is designed as per the competitors move, It simply defines where, when and how a company should compete with the competitors.

COMPANY PROFILE

Philips Company has a strong presence worldwide with its presence in more than 100 countries, Philips has been working in the fields of Healthcare, consumer life style and lightning. The company was founded in the year 1891 and is a Netherlands based company. With its first R& D center for excellence launched in the year 1914, the company today serves the world with its latest innovations and creations.

CURRENT ISSUES

This indicates the action plan of the company which has been taken into account after a Market Scan. A number of factors do influence the working and business of the company such as Changing technology, Economic stability, social & legal reforms and surely the new competition in the market which allows the new entrants to place a better product at a lower price.

 So all these factors needs to be analyzed so that the company could frame out effective strategies and implement them with immediate effect to get maximum business returns.

INTRODUCTION TO LED LIGHTS

LED lights, LED stands for Light Emitting Diode which is assembled in groups to be used for lighting, over the past few years LED lights has been rated as one of the best and the most technical inventions in the field of lighting. LED’s have a life which is about 40 times more than the normal lights, also when taken in group these small LED’s emit much brighter light and that also with a very small startup time. Since LED light does not require heating of the filament so it brightens up the moment you on it and since heat dissipated is very low as compared to other sources of lighting it consumes less electricity overall considerably reducing the energy losses.

LED lights have a longer lifetime and can be used for switching them on and off much more times than the traditional bulbs, also these lights work on a narrow band of wavelength which means more brightness as compared to any of the other source if considering the size factor, so it is the performance, cost effectiveness, quality and long life that makes it the technology of the present which is very soon going to replace all other traditional lighting ways in a short span of time.

Customer Relationship Management

A case Study of Customer Relationship Management

Walmart is a multinational retail giant operating across the globe. Walmart is operating in more than 11000 retail outlets working with 69 associate partners in more than 27 countries. Walmart is having e commerce websites in about 10 countries making it as the world leader in the field of Retailing. Walmart employees’ more than 2.2 million people across the globe.

Review of CRM in Walmart

Walmart has been a pioneer in the field of Loyalty programs which the company has introduced worldwide. Walmart has introduced loyalty programs in which it offers loyalty cards to the customers and the customers can use these cards to get good discounts on any of the purchases they make, since Walmart is in tie ups with a number of big brands so the customers can get high quality of products at a low price. With a very successful and a vast network Walmart tracks the activities and the purchasing pattern of more than 80 million customers across the globe. This tracking further helps Walmart to analyze and develop marketing strategies as per the demand of the customers. CM of Walmart has helped it in developing a framework which helps it to have a sustainable competitive advantage.

The Walmart way

Walmart has been rated as one of the world’s best retail service provider, with such a wide network and global coverage Walmart is indeed the most reputed name in the domain of retail selling. Walmart has emerged out to be a global leader as a result of its tie ups with the business giants of various nations, which has helped it to penetrate deep inside the formulation of customer specific services, which has lead to high level of satisfaction among the clients.

Walmart has been focusing on customers and this is the reason that the company has established its brand across the globe in terms of quality and service.

Proposed improvements to the role of staff in promoting good CRM

Staff indeed plays a very vital role as far as the implementation of promotion of Good CRM is considered. Since Walmart has about 2.2 million employees associated across the globe in various processes, so it becomes very important for the employees to get involved in the CRM activities so that the quality could be implemented in all the processes. The employees should update their regular work related to the stocks and should report regarding the future demand so that steps could be take to make the things available which are of high demand in nature. Apart from this the frontline executives should also take the charge of collecting the information regarding the changing demand of the customers so that more focus could be laid on the customer oriented marketing concept.

Since millions of customers visit the retail outlet daily and they have varied needs and demands, so the employees will have to look into providing variety of products to the customers, so that they can be exposed to choices and make a decision depending upon their preference criteria.

Plan for the implementation of improvements

Improvements is what is the overall aim of all the CRM practices within the organization, Wallmart should look in to the implementation of the following, for the improvement purpose-

·             Since at peak times the mall witnesses a huge crowd, it becomes highly important for the managers to effectively manage the crowd, so that the customers could enjoy the shopping experience without any frustration.

·             The Front executives and the managers in charge should take in mind the long waiting que at the billing counter, so that the customers should not have to wait for long durations.

·             Since today’s market is a customer oriented market and it is of utmost important for the business unit to implement the CRM practices in a manner so that it is meant for serving the customers with the utmost priority.

Conclusion

CRM practices are meant to attain the maximum of the customer’s attention, Loyalty programs are based on a simple concept that a loyal customer is far more beneficial than a non loyal customer as far as business profitability is considered, hence it should be the first priority of a business to maximize the count of the Loyal customers, so that the company could ensure maximum returns with increasing count of the satisfied customers, Because in today’s competitive era “Customer is the King” and the earlier this thing is understood the better it would be for the overall profitability of the business.