Philips focused its marketing efforts in the North American market on less-expensive items instead of the up-market products that have made the company's reputation worldwide.This is an example of the best practices approach.

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The best practices approach involves adopting leading-edge strategies, processes, and practices that have been successful in other companies or industries to improve performance. Philips focusing on less-expensive items in North America instead of their traditional up-market products does not necessarily reflect the adoption of industry-wide best practices, but rather a strategic market positioning decision specific to their assessment of the North American market.

Philips Focused Its Marketing Efforts in the North American Market