January 29, 2013

Philips Sees Bigger Share of Philippine Market

Photo Credit: http://www.philstar.com/

New products will be released this year by Philips Lighting that will give more money value for the Filipino People said by the new country manager for the Philippines Fabia Tetteroo-Bueno.Bueno has been studying Filipino consumers for a long time but actually started her consignment in the Philippines in late 2012.

She says that as customers, Filipinos are generally dominant when it comes to purchasing something. And large portion of them is looking for a valuable products for their money.

Bueno says in an interview “Before I arrived here, I’ve been studying the Philippines. For four months I’ve been working in understanding the Filipino consumers. What you see is that the purchasing power is going up and that’s very interesting because our products are really for consumers with higher purchase powers. But I think we are bringing them a new range of products that are what we call value-for-money products so we can get a bigger range of customers."

In regards with what she said, Philips Lighting will do their best in getting a bigger share of the Philippine market.

She added “We don’t want to be only in the premium part but we also want to bring quality solutions for customers with even lower purchase powers. The purchase power is going up, but we’re going to have a bigger range of solutions to take over a bigger part of the market.”

Philips Lighting will be offering new products as part of their efforts in reaching their goal this year.

She also added that they will always going to be a quality brand and will go for different levels of propositions to customers.

“People with less purchasing power want dry irons. So we just bring in a dry iron, which is a good Philips quality dry iron. We’re not going to go down on our products’ standards but we’re just going to have a bigger range of products. That’s basically our proposition,” she says.

“We want to try marketing campaigns so customers understand what is a good LED and what is an LED that’s low quality because everybody knows already for other light bulbs. For LED, nobody knows the difference yet,” Bueno says in regards with their campaign in raising an awareness for consumers on what a good LED bulb is.

A light-emitting diodes is what used in an LED lamp because it lasts longer than the ordinary bulb.

Lighting is Philips' biggest market share in the Philippines with 45%. followed by their healthcare and consumer lifestyle.

“We are very strong in consumer lighting and we expect more professional lighting growing and we expect also healthcare growing,” she adds.

As final remarks, Bueno states that they see a good opportunity in the country because of it's strong macroeconomic fundamentals.