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SWOT Analysis Philips Healthcare

Class: Healthcare Communications and Marketing Assignment 2
by

Jerry Xia

on 26 April 2014

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Transcript of SWOT Analysis Philips Healthcare

Philips Mission
"Improving people's lives through meaningful innovation."
Brand Position
The Philips brand position is centered on their products.

"Sense and Simplicity"
Philips Vision
"At Philips, we strive to make the world healthier and more sustainable through innovation. Our goal is to improve the lives of 3 billion people by year 2025. We will be the best place to work for people who share our passion. Together we will deliver superior value for our customers and shareholders"
Strengths

Strong brand recognition
•Forerunners in medical technology – CT, MRI and ultrasound
•Expertise –recruitment, education and growth
•Financially stable – 14.3 billion dollars in sales in 2011.
•Innovation – 8% of sales goes back into research and development
•Location – Operations in 60 countries with sales in over 100 countries
•Staying current – sustainability in the environment and in healthcare
•Diverse products - Diagnostic Imaging Systems; Patient Care and Clinical Informatics; Customer Services; and Home Healthcare.
•Offering refurbished medical equipment to reduce financial strain on healthcare organizations.
SWOT Analysis
Philips Healthcare

Faith Tyler
•Commitment too many lines of product spread the company’s resources to thin and some products and service quality suffer.
History of Philips
1891
light bulb
filaments
1950s - 1980s
X-ray tube
1920
1
927
Medical
Equipment
Lab
L
argest
Producer
Radios
1930s
1940s
TV
electric shavers
audio cassettes
VCRs
CDs
DVDs
Blu-Ray
MRI
Ultrasound
1990s
2006
3D scanning
Weaknesses
•Developing products for healthcare organizations that emphasize prevention through patient education
•Electronic Medical Record development
Opportunities
•Rising cost of healthcare makes organizations more hesitant to buy expensive equipment
•Government sees medical equipment and supplies as potential drivers for healthcare costs and places a cap on the prices of these items
•Healthcare Reform is so successful that future generations of healthy Americans rely less on healthcare and therefore Philips Healthcare products.
•Significant innovative competition from GE Healthcare and Siemens
Threats
Philips Healthcare Products
CT
Diagnostic ECG
Emergency Care and Resuscitation
Fluoroscopy
Clinical Software
X-ray
MRI
Patient Monitoring
Nuclear Medicine
Radiation Oncology
Radiography
Respiratory Care
Medical Supplies/Consumables
Ultrasound
Mammography
Hospitals
Outpatient Testing Facilities
Home Health Agencies
Physician Offices
Target Market
Changes in healthcare delivery
Rising cost of healthcare
Burden of Baby Boomers
Healthcare Reform

Philips Healthcare responds
Offering refurbished equipment
Innovations to streamline quality diagnosis and treatment
Opportunity to expand prevention products and programs
Environmental & Market Factors
GE Healthcare
Similar products and market
Offers EMR
Venture with Microsoft

Siemens
Similar but fewer products
Similar market
Laboratory products
No EMR
Competition
Mission, Vision and Brand theme - Innovations that improve people's lives.


Reinvestment in research and development (8%)
Recruitment and retention
Promotion of employee education and growth
Internal Capabilities
Thank You

$150,000 (Philips)
$192,825 (GE)
$65,520 (refurbished Siemens)
Sample Cost Comparison for 3D ultrasound:
SWOT Analysis
Philips Healthcare
Faith Tyler
Full transcript