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.