Philips Green Loans
Light bulbs are of course very important in our modern day living especially when darkness falls, but however sometimes they causes us headaches in terms of electricity bills when the light bulbs we have bought consume large watts and have short lifespan and could not cut off our budget for it because it is a home necessity. Thus, some we sometimes force to look for better light bulbs that could help us not only light our paths well but also could help us reduce our electricity bills and gave us a long light-service.
Philips could sympathize with this situation, thus it introduces on the market its own energy saving lights which they call LED bulb though there are already LED bulb brands in the market yet Philips boast theirs is different, particularly their Master Ledtube; LED stands for light emitting diodes.LED bulb is a light bulb that has low energy consumption and have long life, that consumes only 10 to 15 watts compare to Edison bulb that consumes 60 to 100 watts and that could stand a 50,000 hours, respectively of a Philips branded LED bulb. However, Philips own LED bulbs cost much compare to other brands. Thus, Philips conceptualized their own marketing strategy, especially in the Philippines where most Filipinos are not rich enough to afford such costly yet very effective energy saving lighting solution of Philips. They call it “Green Loan”.
According to Philips, Green Loans are loans that are provided for companies and government projects as well (if the government considered Philips as their subcontractor for their infrastructure projects that need lighting finishes) that would want to retrofit their respective buildings and replace some building fixtures for a more energy efficient ones or for Philips energy efficient lighting solutions. Such as for example, if one company wants to replace their lighting fixtures in favor for a more energy saving ones but do not have a budget for it, Philips could help them materialized it by providing the company Philips so-called “Green Loans”, in partnership with Philips chosen banks.
Actually, Philips boasts that they have light up the plaza of Baguio city Philippines in partnership with the project of the local government of Baguio city providing Baguio city their “green lighting solution” or with their own LED bulbs.
Yup, Philips own LED bulbs could help Filipinos save energy and money in their lighting necessities and electricity bills but it takes a great and big investment on buying their lighting products which leave us the question: Are modern Filipino homeowners willing to pay the price of investing lighting solutions of Philips knowing that most Filipinos are very thrifty because of small salary they have?