The client

TP Vision is an international player in the field of consumer electronics. The company focuses on the development, production, and marketing of Philips branded television sets and Philips branded audio products worldwide. TP Vision combines the strong Philips brand with product development and design expertise, operational excellence, and its industry footprint.

With close to 2,000 employees around the globe, the company has a 10% market share in the global television market; in the higher segment of OLED televisions, the market share is as high as 15%.

The challenge

The consumer electronics market is extremely competitive. Innovation in the industry predominantly focuses on developing new technology and features to be first to market and steal the limelight from competitors. Although these new features and technologies are extensively tested on consumer panels, the industry has a strong product innovation focus.

Being part of a traditional value chain of selling products through wholesale and retail channels (a typical B-2-B-C approach) and very little consumer engagement, in-depth insight in consumer preferences and behaviors is missing. Thus, a crucial input for a consumer driven innovation mindset is lacking. TP Vision is looking to grow its market share. How to approach this challenge in a crowded marketplace?