Assumption

The Following assumptions are made in order to create the marketing plan for Philips.

• The market is moving towards technology and data analytics innovation, especially in healthcare, making the system more advanced while moving to trail based diagnosis to improve health. Since a major part of the US population is reaching seniority in the recent years and by 22% in 2022, there is a strong demand for sucha system that could offer quality and value both through the same platform. Such is bein analyzed by Philips in the current situation.
• In addition, since Affordable Care Act (ACA) of 2010 also supported such advancement and innovation in the Healthcare Making all hospitals liable healthcare providers, to charge fee-for-value (FFV) rather than fee-for-service (FFS).Such has made Philips adopta technological aspect in order to adapt with the economic changes in the market.
• Moreover, sincehealthcare spending in the USA exceeded $3 trillion in 2014 and is expected to increase by $4.5 trillion by 2020 along with changing customer behaviorfornew and innovative ways to be aware of their health issues because of the technologically driven era.
• Also, since Philips has a strong competitive edge in developing suchtechnology due to strong sales resources and market penetration, it has a strong edge over the otherplayers, hence, has the ability to penetrate the markets effectively.
• Philips has joined hands with Amazon Web Services (AWS) to facilitate HSDP in a cloud infrastructure, raw data storage, computing power and analytical tools. This also differentiates HSDP (Healthcare Suite Digital Platform) from its competitors. So, Philips is right now, way ahead of its competitors.(Mathew, 2014).
• Since it hasbeen developed that healthcarelagged in adopting the latest technology and data analytics, however, Philips’ strong commitment, healthcare advancement measures and cloud-based data platform for healthcare providers filled this gap optimistically. Their collaboration with Salesforce, Amazon Web Services, and other app developers provided Philips a technological edge. Also, its HSDP (Healthcare Suite Digital Platform) allows all developers to integrate all data from various other platforms such as Apple’s Health Kit, Fitbit,and other technological companies’ dashboards.

Philips marketing plan Harvard Case Solution & Analysis

Initial Information

Under the current scenario, the US healthcare industry is rapidly changing, bringing in additional investment from the government to supportit and latest innovation to improvise the service and cost structure ofthe healthcare system.

Such changes have made the structure switch from premuimness to quality offering model, making a maintained qualityof healthcare service for the entire population.Moreover, since such adoption has been made compulsory in themarket, the decision making authority to purchasethe latest equipmentand devices shouldbe towardsa centralized management model,makingthe decision centralized.

Moreover, the customers are moving towards more innovativemodels to measure health and other heart related parameters such as EMR devices, Fitbit and such.Such has opened up an opportunity for the Philips to collectdata from various resources and devices into a well-integratedservice plan to offer customers more reliable healthcare services.Though such requires Philips to invest heavily into customerdata analytics and create alliances with big data companies, however, it has a strong competitive edge in the market for being an initial and strong player in themarket in electronics initially and later, in healthcare..............

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