A Cutting-edge Company

Ann-Cathrin Starosky s1897624Marloes Thijssen s1863584Robert van Kasteel s1651552John Hein s1942727

Table of Contents

Page

Philips – A Cutting Edge Company

1 Introduction…………………….....…………………………………….….…………………….…..…….3

1.1 History of Philips……………………….………………………….………………….………..........3

1.2Products………………………………………………………………………………..

…………..……….3

1.3.1 Values….

………………………………………………………………………………..…………..

……….4

1.3.2 Vision 2010..………..……………………………………………………..…………..

……….4

2 Philips performance over the past 5 years….………..

……………………………………...5

3 Philips’ Strengths………….

………………………………………………………….……..…………….6

4 Marketing strategy………………..……..………….…………………………….…………..………...7

4.1 Segmentation, Targeting and Positioning…………….………………….………..........7

4.2 Product Strategies..…..…………………………………………………………..…………..……….8

4.3 Market entry and distribution strategies..………………..…………..…………..……….9

4.4 Promotion Strategies……..……………………………………………………..…………….……..11

4.5 Pricing Strategies………………...………………………………………………..…………..……….12

5 Conclusion…………………….…………………………….

………………………….……..…………….12

6 Appendix A (SWOT-

Analysis)...........................................................................14

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7

References...........

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“Royal Philips Electronics of the Netherlands is a diversified Health and Well-being company, focused on improving people’s lives through timely innovations.” 1 Philips is the world leader in lighting, healthcare and lifestyle. Philips headquarter is located in the Netherlands; additionally Philips is located in more than 60 countries worldwide with approximately 128.000 employees. 2

1.1 HistoryAnton and Gerard Philips established Philips & Co. in the year 1891 in Eindhoven, the Netherlands. First Philips & Co. produced carbon-filament lamps and became one of the largest carbon-filament lamp producers in Europe. In 1910 Philips employed 2000 employees and was the largest single employer in the Netherlands. Later in 1914, the company began selling the x-ray and radio technology, which was the first innovation of Philips. Until now, the list of inventions is grown a lot. The inventions of Philips consist of many breakthroughs and enriched people’s everyday lives.

In the early years Philips established a research laboratory to stimulate product innovation as well as to study physical and chemical phenomena. Due to the research laboratory Philips discover a lot of well known products. Furthermore, Philips was one of the companies which became involved in the earliest experience in the television and radio production. Over the years, the product range became larger and larger. They introduced the electric shaver in 1939, the Compact Audio Cassette in 1963, the Compact Disc in 1983 and lots of more important innovations. The company growth was enormous.

In the 21st century Philips continued to grow and change. A long time people saw Philips just as an electronic producer, but a few years ago Philips started projecting a new image that highlights the products in the areas of Lifestyle and Healthcare. In 2004 Philips expose the new brand promise of “sense and simplicity”.3 “In September 2007, Philips communicated its Vision 2010 strategic plan to further grow the company with increased profitability targets. As part of Vision 2010, the organizational structure was simplified per January 1, 2008 by forming three sectors: Healthcare, Lighting and Consumer Lifestyle. These steps further position Philips as a market-driven, people-centric company with a strategy and a structure that fully reflect the needs of its customer base. With this set of businesses, Philips aims to build the leading brand in Health and Well-being.”4

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1.2 ProductsThe product range of Philips is divided into seven categories, which are Sound and v ision, Personal care, mother and child care, household products, lighting, PC products and phones and accessories. Under the category Sound and vision are products like televisions, home theatre, blue-ray and DVD, MP3 players and more. Furthermore, products of Philips are men’s shaving, hair care, coffee makers, toasting, energy-saving lamps, car lamps, phones. These are just a few of the actual products of Philips. The sector with the most earnings is the Healthcare sector with an EBITA of 452 million euro in the 4 th

quarter of 2009. 5

Philips does not only sell a lot of products, they are also known all over the world and sell their products in many different countries, e.g. Germany, Canada, Australia, India are just a few examples. The market cluster with the most sales in the 4th quarter of 2009 was Western Europe with sales of 2,832 million euro. Also a big market with 1,794 million euro sales was North America. 6

1.3.1 ValuesThe strategy update “Vision 2010” laid down the values which reflect the ambition Philips had. The

values are called the four D’s and are like a compass for the company to guide how to behave and to

remind them of the attitudes they should have towards their work, customers and other employees.

“With Vision 2010, we are putting people right at the center of things, with Health and Well-being as our

overarching theme. We are thereby putting into practice our mission: improving the quality of life

through the introduction of meaningful innovations.” (Gerard Kleisterlee, President and CEO of Royal

Philips Electronics)

1.3.2 Vision 2010

Delight Customers

We anticipate and exceed customer expectations

We demonstrate Passion for Philips and “sense and simplicity”

We create superior customer experiences, based on deep insights

We act as One Philips ambassadors all the time

Deliver great resultsWe continually raise the bar

We play to win big and always set ambitious targets

We challenge the status quo and experiment with new ways

We take clear decisions and implement with speed and discipline

Develop peopleWe get the best from ourselves and each other

We attract the best players to create strong diverse teams

We take risks by giving people stretch assignments to accelerate their development

We personally invest significant time to coach and recognize people

Depend on each otherWe deliver more value by working as One Philips

We think as One Philips and act as owners

We trust and empower each other to contribute our best

We team up and allocate resources to the most promising opportunities

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(Source: http://www.philips.com/about/company/missionandvisionvaluesandstrategy/values.page)

In addition to the Vision 2010 Strategy Philips has a specific mission and vision how they will work in

the future. The mission of Philips is to "improve the quality of people’s lives through timely introduction

of meaningful innovations."7 Furthermore, Philips vision is that “In a world where complexity

increasingly touches every aspect of our daily lives, we will lead in bringing sense and simplicity to

people.”8

2. Philip’s performance over the last 5 yearsTo discuss the overall performance of Philips over the last five years, we have looked trough all available

annual reports. Here we found all the data we needed to analyze the performance.

Philips is a brand that is known all over the world and is one of the largest electronics companies in the

world. In recent years Philips has gone through a transformation that has given the company a more

balanced portfolio of businesses in the domain of well-being and health. These and the other Philips

businesses have been able to develop and improve their market share during the last five years. Since

2005 Philips has made some significant acquisitions, with the biggest being the acquisition of Genlyte

and Respironics in 2008. These two acquisitions make that over 50% of Philips global sales are

generated by activities in which they are the world market leader. As a result of these acquisitions

Philips has amassed an exceptional range of well-respected brands, including Lightolier, and makes up

the world’s largest integrated lighting solutions provider. As a consequence of this Philips has build up

an extensive portfolio combined with a global commitment to sustainability.

In 2009, Philips had sales that exceeded €23 billion. Philips has done quite well over the last few years

with their sales steadily increasing since 2005 from €25 billion to €26,7 in 2007, until a 4% decrease in

2008 due to the economic malaise. Over the last five years Philips has always been profitable, with the

profit even being as high as €5 billion in 2006, except in 2008 when there was a global recession. In

2009 the recession was still felt although there was a minimal profit of €424 million, but this was mainly

due to several layoffs. Philips has also become very aware of the environment these last couple of years

and this is why they started to sell Green products in 2006. They set a few targets for themselves over the

period 2007-2012 (as can be read in the annual report of 2006) that they wanted to double their revenues

from Green products to 30% of total sales, and double their investment in making Green innovations.

And Philips has done very well the last couple of years and exceeded expectations by bringing revenues

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of Green products to 30,9% in 2009, and investing €409 million in Green in 2009 as to the €284 million

of 2008.

That Philips has done well over the last five years is also noticeable in the value of the Philips brand

which has increased gradually.

Value of the Philips brand (Amounts in USD billions) (www.philips.com)

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5.9 6.77.7 8.3 8.1 2005

2006200720082009

(all figures and data come from www.philips.com)

3. Philips strengths At the macro-level of Philips international competitiveness is Porter’s diamond. In porter’s diamond

there are a couple of characteristics that explain the competitiveness of a firm. Factor conditions which

for Philips means that they are very good at innovation and have advanced research and development

labs. Another important thing is that Philips has highly skilled people in these R&D labs. Philips also has

a strong position in their main markets, with a great demand for their products in Europe and North-

America. Because of the large home market in Europe this gives Philips a cost advantage and a lot of

experience.

Porter’s Five-Forces model is at the meso level9. Because Philips is such a large company and a

respected global brand, it has a lot of bargaining power over its suppliers. This is mainly because there

are only a few companies that sell electric shavers and Philips is the market leader in almost every part of

the world. Philips can also produce in large quantities, so they can also buy their resources in large

quantities which lowers the price. There is however the presence of a substitute, namely the normal

razor. But most buyers are not willing to substitute, as they find the electric shaver more convenient.

Another strength of Philips is that they are very well established in their main markets, and have build up

a strong reputation and market base. Their brand identity is good and a lot of customers are loyal to the

brand. This makes it hard for other companies to enter this market and try to decrease Philips market

share. The perceived value is the customer’s overall evaluation of the product offered by the firm. 10 In

Philips’s case the customer buys a Philips product because they expect it to deliver a certain level of

standard.

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Furthermore Philips has a good acquisition strategy. This way they expanded their product market and

segment.

4. Marketing StrategyAfter having introduced the company of Philips, its product range and its global presence as well as

having studied the past five years and the firm’s nation and international competiveness, we will analyze

in the following section relevant marketing topics and tools.

Philips, as being the largest electronic company in Europe, offers a gigantic range of products. These are

divided into the three major segments: Healthcare, Lightning and Lifestyle. We decided to focus on the

Lifestyle segment and more specific on electric shavers.

4.1 Segmentation, targeting and positioningA commonly wrong assumption is that companies should try to win as many customers as possible

without regarding a detailed targeting of the market. Certainly a great customer base is one of the most

important aims of any profitable company, but to ensure long-term success, it is impossible to serve all

customers equally. That means that it is crucial to define a target group to be able to produce

competitive, tailor-made and delighting products.

To determine which segment Philips serves, we firstly want to divide the market into segments. The

plainest distinction which can be made in the world of razors is between manual blade shavers and

electronic shavers. While Philips focuses only on the electrical shavers segment there can be made even

more distinctions. The two most common options are rotary shavers and foil shavers, furthermore there

can be differentiated between wet- and dry-use shavers. Although the company has a great range of

products which are differentiated in uncountable specific features, all of the products belong to the group

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of rotary shavers for which the company once became so famous under the Philishave brand name.

However, wet- as well as dry-use shavers are being produced.11

To further determine the target group we want now to go into more detail concerning societal aspects.

The major part of shaving products produced by Philips is aiming at the male population. Nevertheless

the company is aware of the potential of the female serving market and pays growing attention. Currently

there is a special product group called “female depilation” offering epilators, lady shavers, bikini

trimmers as well as partially so called IPL hair removal systems. Moreover there is a complementary

men’s grooming segment with different kinds of hair trimmers. Nevertheless we want to focus in our

report on the men’s shaving section which offers products from 30£ to 250£. Due to the uncountable

number of blade shaver offers and the great advertisement campaigns many people, especially younger

generations, prefer this cheaper option. To be precise, only 18 percent of all men use solely electrical

shavers.12 Therefore the targeting group can be summarized as the wealthy segment of males between 35

and 54 which can afford to buy these premium razors. But what should not be neglected is that there is

also a great amount of women who still prefer male shavers.

To make Philips targeting more clearly we want to include the company’s position in the world market.

On 9th of May 2007 the company was able to announce that it had reached the phenomenal production

line of 500 million electric shavers. Certainly, with more than 70 years of heritage and sales of razors in

56 countries worldwide the company is the global market leader in electric shavers. The value

proposition of the razors is very high as the former Philishave company aims at the highest premium

segment in this market

4.2 Product strategiesIn the following we want to go into more detail regarding marketing management. We have already

discovered that Philips is aiming at the upper class of society with premium products, but we want to

figure out to what extent the company takes action in favor of its customers in comparison to the interest

of the organization and society as a whole.

After analyzing the situation we came to the conclusion that Philips chose a combination out of the

Production Concept, the Marketing Concept and even of the Societal Marketing Concept. To explain this

let us begin with the Production Concept. In this concept the most valuable aspect is continuous

improvement and innovation of the product. Philips as clearly proven that it is an innovative company, as

it was the first who started with the production of rotary shavers. But there were several other

innovations which contributed to the current position as a market leader. The latest innovation is based

on the cooperation with Nivea. To reduce skin irritations and improve the feeling of the shaving the

companies developed a razor with implemented Nivea-products such as lotions. Another example is the

newest flagship of the razor segment, the Arcitec. This razor is the first rotary razor with three

independently flexing heads which ensure an excellent shaving result. However, what is most important

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is that the company has never forgotten that customers do not want an innovative razor, but much more

an excellent shaving result. This means that the Philips is aware of marketing myopia.

What goes along with the Marketing Concept is related to our last point. Philips slogan is “sense and

simplicity” and this comprises the importance to satisfy the true customer’s needs. It is not the main goal

to design the most innovative razor on the market, but much more the most effective one. It is not about

the way to get somewhere, but about the result. And therefore Philips is not trying to establish new

customer’s needs which might be irrelevant at the second glance, but it is trying to develop products

tailor-made to the customer segment resulting in delighted consumers. A very important evidence that

the Marketing Concept is applied is the fact that Philips refers its decisions to direct market research. In

2006 the company conducted intensive market research interviewing 5000 men about their true problems

and needs concerning the perfect shaving experience. The outcome was not very hidden problem, but

still it opened a true opportunity to outperform competitors. Many customers claimed that it was

extremely difficult to get a satisfying shaving result on the neck under the chin. Philips took this issue to

heart and invented the new arcitec which is able to deal with this problem better than any other shaver in

advance. Another indicator are the four D’s representing Philips values: Delight customers, Deliver great

results, Develop people and Depend on each other13.

Finally, we also found indications of the Societal Marketing Concept as we consider the Philips

Company as a whole. In recent years Philips emphasized sustainability very much and included it in

important performance goals. The “EcoVision4 targets” for example include doubling of revenues from

green products to 30% of total sales, a doubling of the investment in so called green innovations to a

cumulative 1 billion euro and an improvement of operational energy efficiency by 25% as well as a

reduction of CO2 emissions by 25% (Annual Report 2009).

Additionally it is important to consider the general and after-sales service of the company. As Philips

shavers segment is a relatively strong Product-dominant entity the level of services is rather low.

Nevertheless the company tries to achieve high customer satisfaction through additional services like

shaving advices via video tutorials on the webpage, the ability to register products to stay up to date

about the latest news and innovations, very user-friendly and effective buyer's guide with comparison

function of the features of all models and consultations for every kind of customer and the possibility to

join clubs like the Philishave Collectors Club (PCC).14

4.3 Market entry and distribution strategiesSo far we have addressed the first “p” of the 4P-Marketing mix; the Product. In the next step we want to

address the place more detailed. Currently Philips has sales and service outlets in 100 countries, 127

production sites and 7 research laboratories in Europe, North America as well as Asia. One important

aspect which enabled Philips to internationalize more easily is its great range of products. The company

had the ability to enter markets which were especially attractive to specific products. That means for

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instance if one country had a weak industry for light bulbs, Philips could enter this market and achieve

relatively easy strong positions due to good market research, analyses and decisions regarding the

country of internationalization. Through this early presence in the different countries the company was

able to establish a good brand image and reputation resulting in opportunities for other products, as

management could use the already established wholesaler, retailer and supplier networks. Additionally,

this meant that Philips often had the chance to enjoy first-mover advantages.

In the history of Philips the company has completed a great amount of mergers and acquisitions.

Amperex, Magnavox, Signetics, Mullard, VLSI, Agilent Healthcare Solutions Group, Marconi Medical

Systems, Agilent Technologies and Respironics, Inc. to name just a few.15 These new acquired

companies definitively provided Philips with local knowledge, acceptance in the market and essential

relations with suppliers.

To describe the current situation we want to apply the model introduced by Uppsala. He used four

different stages to describe the mode of entering international markets. From the first to the fourth stage

the level of commitment is steadily increasing. Philips can be classified as a member of the third as well

as the fourth stage. Stage three implies the establishment of foreign sales subsidiaries and stage four the

establishment of production and manufacturing units. As Philips has sale subsidiaries in 100 countries

and produces in 127 places, we can assume that a great percentage of the 100 countries of sales have also

production sites. However, we have to focus on Philips Shavers, which are being sold in 56 countries, but

currently only produced in two production centers for shavers, which are Drachten in the Netherlands

and Zhuhai, China.16 This means, that Philips follows a relatively strong export mode strategy with high

flexibility, low risks and low control.

The remaining question is which are these 56 countries Philips is selling electrical shavers in? The most

important markets for this product segment are definitively Europe and the USA in which the company

was selling razors under the name Norelco. But also the Asian market is getting more important as there

was a significant 11 percent increase in value only in the year 2006.17 In 2004 both Europe and China,

due to its great population, contributed 34 percent of the total sales. The USA is the third most important

region with 26 percent of total sales, followed by the Middle East together with Africa and Latin

America, with 2 and 4 percent respectively.18 The underlying reason why Philips does not enter the

electrical shaver market in India and China as intensively as it does in Europe and America are the

following: Firstly it was proven by research that Chinese man have in general less hair than other

cultures. Moreover their hair is thicker and grows more slowly, so that there is no need and demand for

three headed, expensive razors like the arcitec. Nevertheless Philips will offer two headed razors as well

as the arcitec as the premium razor on the market to be present in the China. Concerning the Indian

market there has been determined another problem. Due to the fact that it is still possible to “get a shave

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at the corner stand for 20 rupees, or 50 cents” the Indian population has not yet the want and therefore

the demand which is crucial to sell the shavers.

The primary channel Philips uses to sell its products is certainly through a tremendous network of

retailers. For instance, if you go in a random city into a random electronic store the chances to find

Philips electronic shavers are extremely high. To put it briefly, Philips follows the intensive coverage

approach. Moreover Philips uses the internet effectively to sell products. Unfortunately is it only

possible to buy products from the online shop from 47 out of the 56 countries Philips sells razors in.

While this form of e-marketing is already well established and contributes essential stakes, the m-

marketing techniques have not yet been adopted.

Adaption takes most obviously place in the United States, as the company is selling razors there under

the brand name Norelco. However, this adaption is steadily reduced due to the fact that Philips is aiming

to unify all products under one brand name.19 Another adaption is the special offering of two headed

razors for the Chinese market.20 But, to put it in a nutshell, as there is no need to adapt razors to different

cultures, as the demand for having an excellent shaving result is the same throughout the world, the

products are greatly standardized throughout the world. Differences might only occur in the promotion of

the product in different cultures, which we will address under the following topic.

4.4 Promotion strategiesFinally one of the most important questions arises when a company is facing its promotion opportunities.

In 2006 Phillips has chosen to follow the Straight extension strategy as it decided to steadily reduce its

last major adaption to the US market. The brand name Norelco will be changed in two steps from

Philips-Norelco to simply Philips in order to unify the products and benefit from the more positive

associations of the great company’s brand name. In other words this means that until 2006 there was

used to some extend the Promotion adaption strategy. An additional positive effect will be a reduction of

promotion costs as these can be more standardized.

This leads us to the next topic of promotion: standardization. As we have already discovered, human

demands for shaving results are similar throughout the world. Nevertheless it can be essential to the

product’s success to adjust advertisements to cultural differences. Still, Philips did not see the need to

adjust its commercials to a great extent besides of the language.21

But, what Philips does is advertising through effective co-operations. The probably most famous channel

of promotion is Philips connection to world class sports. One important example emerged out of the

Philips Sport Club, is the soccer club PSV (Philips Sport Vereniging), which is currently one of Europe’s

top clubs. Philips owns also the naming rights of the Philips Stadium, which is the team’s home stadium

in Eindhoven. Moreover the company has the naming rights of the Philips Arena in Atlanta (Georgia)

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and even the Australian premier basketball league is named Philips Championship. In total the company

has sponsored uncountable sports events, teams and even music events. The most current and successful

campaign was started in 2006 in partnership with AT&T and the Williams F1. Therefore Philips is now

sponsor of one of the “Big three” F1 teams and attracts a lot of attention.22 The company uses this

valuable partnership by developing razors with the Williams F1 design in order to address this huge fan-

base as well as younger generations.

Lastly we also want to mention Philips involvement in several Hollywood movies like the James Bond

movie “A View to a Kill” and “The Long Wait”. Moreover the company uses extensively television, full-

page magazine and billboard advertisements. The budget for advertising and sales promotion was 804

million euro in 2009 (2008: 949 million €).

4.5 Pricing strategies

A major element in marketing is pricing; this is because the price of a product has an immediate impact

on other aspects of the marketing process. As well as having an impact on profit, a higher or lower price

of a product can also change gross margins and sales volumes.

One of the strategies that Philips is using is skimming. Skimming means you sell your product at a high

price to achieve high profits. Philips puts quality in this case before quantity, with a higher price but also

a high quality product which is appreciated by their buyers. That is why Philips can ask these high prices

because their aiming at the top of the market. People want to pay more for their electric shaver, because

Philips is an innovator and they know that it is a quality product. For example they have a special electric

shaver that moisturizes your skin while you shave, by dispensing a NIVEA conditioner. This way you

get a smooth shave and your skin gets looks after at the same time.

Another strategy is market pricing; with market pricing the company bases its price on similar products

in the target market. Philips as one of the market leaders in electric shavers can put up competitive

prices. And, as seen with their skimming approach, people are willing to pay their prices as they know

that electric shavers are that costly.

6. ConclusionPhilips is the largest electronics company in the world. They made a positive transformation over the

years and became market leader. The company has been profitable over the last couple years except in

years of global recession. In this assignment we focus on the Lifestyle segment, in particular electronic

shavers.

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It is crucial to define a target group to be able to produce tailor-made and delighting products. Males,

who are able to afford premium razors are the target but without neglecting the great amount of women

who prefer male shavers.

An important aspect is that the company has never forgotten that the customers mainly want an excellent

shaving result, they are aware of marketing myopia. They focus on the effectiveness of the product and

therefore they try to develop products tailor-made to the customer segment resulting in delighted

consumers.

Philips invented the new arcitec which solves the problem of getting a satisfying shaving result on the

neck under the chin. Another indicator are the four D’s representing Philips values: Delight customers,

Deliver great results, Develop people and Depend on each other.

One important aspect which enabled Philips to internationalize more easily is its great range of products.

Philips follows a relatively strong export mode strategy with high flexibility, low risks and low control.

The primary channel Philips uses to sell its products is certainly through a tremendous network of

retailers. Philips follows the intensive coverage approach. Moreover Philips uses the internet effectively

to sell products.

As there is no need to adapt razors to different cultures, as the demand for having an excellent shaving

result is the same throughout the world, the products are greatly standardized throughout the world. But,

what Philips does is advertising through effective co-operations. The probably most famous channel of

promotion is Philips connection to world class sports. Moreover the company uses extensively television,

full-page magazine and billboard advertisements.

One of the strategies that Philips is using is skimming. Skimming means you sell your product at a high

price to achieve high profits. Another strategy is market pricing, with market pricing the company bases

its price on similar products in the target market.

Philips strengths are innovation, advanced research and development labs. Another important thing is

that Philips has highly skilled people in these R&D labs. Philips also has a strong position in their main

markets, with a great demand for their products in Europe and North-America. Because of the large

home market in Europe this gives Philips a cost advantage and a lot of experience. To put it in a nutshell,

Philips has truly selected an appropriate marketing strategy which results can be seen in the profitability

of the company.

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Appendix

SWOT-Analysis

Strengths (internal)

Strong position in main markets

Good geographical diversification (25%

of sales is generated in emerging

countries)

Great innovation capability

Good acquisition strategy (new

products)

Weaknesses (internal)

The consumer lifestyle division is

sensitive to the economic slowdown

Sensitivity towards the rate of the dollar

Lack of brand recognition

Products marketed under different names

then Philips

Opportunities (external)

Philips is a strong global brand which

makes it easier to differentiate and

launch new products.

A lot of potential in the long term

(population aging is positive for the

health care sector)

Threats (external)

Highly competitive market (especially in

the electronics market)

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Rising demand for health care

equipment

Growing awareness for energy efficient

lighting

References

Websites

Philips

URL: www.philips.com/about/company/companyprofile.pageURL: www.philips.com/about/company/history/ourheritage/index.pageURL: http://www.philips.com/about/company/missionandvisionvaluesandstrategy/index.pageURL:www.newscenter.philips.com/main/confidential/resources/corporate/quarterly_results/R_4Q09.pdf

Shavers.co.uk

URL: www.shavers.co.uk/introduction_to_electric_shavers.php

Businessweek

URL: http://www.businessweek.com/magazine/content/07_24/b4038413.htm

Philipshave collectors club

URL: home.wanadoo.nl/philiclub/indexeng.htm

Answers.com

URL:www.answers.com/topic/philishaveURL: www.answers.com/topic/philips#Sports.2C_sponsorships_and_naming_rights

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URL: www.answers.com/topic/philips#Acquisitions.2C_subsidiaries_and_spinoutsURL: www.answers.com/topic/philips#Sports.2C_sponsorships_and_naming_rights

Others

URL: www.avbbs.com/gflinn/news.htm

Bibliography

Essentials of Global Marketing 2008 (Svend Hollensen)Principles of Marketing, Eleventh Edition (P. Kotler and G. Armstrong)

Pictures

URL: http://www.designawards.com.au/images/INDUSTRY/Philips%20Arcitec.jpg

URL: http://farm4.static.flickr.com/3365/3453191149_c0c94ea346_o.jpg

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