Degree
Master of Business Administration
Faculty / School
Faculty of Business Administration (FBA)
Advisor
Syed Akhtar Mahmud, Visiting Faculty, Department of Marketing
Project Coordinator (Internal)
Dr. Wajid Hussain Rizvi
Committee Member 1
Mr. Akhtar Mahmud, Advisor, Visiting Faculty Faculty of Business Administration, Institute of Business Administration (IBA), Karachi
Committee Member 2
Dr. Wajid Hussain Rizvi, Director-Business Administration Programs, Department of Marketing, Institute of Business Administration (IBA), Karachi
Project Type
MBA Research Project
Keywords
https://ir.iba.edu.pk/do/search/?q=Philips&start=0&context=8598587&facet=">Philips, Electronic manufacturers, Portfolio, IMC, LMT, Steam iron
Abstract / Summary
Philips is ranked amongst the leading electronic manufacturers in Pakistan. The company has a diverse portfolio which varies in the different countries in which it operates. One of the key products that the company offers is irons. Across the world, dry irons have become obsolete with the more advanced steam versions taking their place. In Pakistan however, Philips is facing a challenge. 80% of the country relies on dry irons but in sync with global changes, the company will discontinue 7 out of its 10 variants in the country. It is a race against time for Philips Pakistan to convince customers and influence them to shift towards steam irons.
The major deliverable for the project was to devise a plan for Philips to make an impact on consumer mindset in a way that can be sustainable and allow the company to expand its market footprint in the country. For the company, lack of local presence, relatively high-priced products and strong competition in the market are major factors hindering progress in terms of convincing customers to buy their products.
The secondary research was supported by primary research in the form of questionnaires and focus groups conducted for both customers as well as retailers. While the former are beginning to switch towards steam irons gradually, they stated high prices and lack of Philips advertising as the main reasons behind not opting for the brand. For retailers on the other hand, absence of local service centers and high prices for Philips products were key behind low sales.
In this regard, a number of recommendations have been made to the company. Firstly, Philips needs to revise its digital marketing strategy focusing on social media as well as instore branding. The company has to make its products more readily available through IMC and LMT. Philips also needs to target commercial consumers like dry cleaning shops to opt for their advanced products in order to create more efficient operations.
Recommended Citation
Jamil, B., Shahid, M., Sajjad, M., Yasin, M. S., & Hasan, S. S. (2020). Increasing Philips Pakistan's steam iron market share (Unpublished graduate research project). Institute of Business Administration, Pakistan. Retrieved from https://ir.iba.edu.pk/research-projects-mba/12
