In a recent Wall Street Journal Article, "Philips's CEO Urges Local Strategies for Emerging Markets," reporter Paul Glader interviews Philips Electronics NV Chief Executive Gerard Kleisteriee.Kleisteriee shines a magnificent light on his firm's global strategy. The company aims to boost emerging-market sales from 30% to 50% by 2015 by focusing on China.
An interesting snapshot:
WSJ: What do companies have to do differently now in emerging markets?Mr. Kleisterlee: It does not suffice to serve only the metropolitan areas. In India and in China you need to have good rural distribution.
Increasingly we, and also our competitors, develop products in these emerging markets for the emerging markets. So it is not a European or a U.S. concept that gets sold in China or India but things that we have designed, engineered and manufactured locally for the local market.
Read the entire interview here.
By the way, I did not know Philips has an online store.
