In its push to grab a greater share of the consumer lifestyle electronics market, Philips has split its consumer lifestyle division into four separate product divisions called Mind, Space, Body and Appearance.
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This initiative says Philips is “part of Vision 2010, the strategy to grow Philips as a market-driven company with a simplified business structure built around three core sectors – Healthcare, Lighting, and Consumer Lifestyle”.
According to Philips each product domain addresses a specific consumer need, which the company has identified with the following focus:
· Mind: designed to “fill the need of balance between myself, my family and others and relaxation and self-enhancement”.
Products include DVD recorders, headphones, micro audio systems and portable entertainment systems.
· Space: designed to “impact the way I feel and there is an ideal environment for each of my activities and situations”.
Products include flat screen TVs, home theatre systems, iPhone and iPod accessories.
· Body: The focus here is “I wish I could always feel healthy and ready to live the life I want.”
Product range includes juicers, kettles, toaster and hand blender, along with a mother and child care range which include sterilizers and bottle warmers.
· Appearance: Aimed at men and self-grooming, it is designed to ” determines how others perceive me. Therefore, presenting myself well makes me feel good and gives me confidence and self-esteem. I wish it would be easy to always ‘look my best.'”
Included products in this range are shavers, trimmers and epilators.
According to Philips, “Our approach is not to offer products based solely on rational benefits like functions and features, but on products which connect to consumers on an emotional, experiential level. We want to address the consumer’s desire for wellbeing, and we’ve mapped this approach by looking at the individual’s interests in terms of their ‘mind’, ‘space’, ‘body” and ‘appearance’ “.
