Panasonic Marketing Strategy – Marketing Strategy of Panasonic: It was founded in 1918 and has been a major player in many lines of business. It currently operates 4 business segments: electronic appliances, eco-solutions, white goods, surveillance cameras, and automotive and industrial businesses supported by over 400 consolidated companies around the globe. It employs more than 250,000 people worldwide, all of whom are dedicated to improving the lives of the people.
Panasonic is a Japan-based brand dealing in all types of electronic and home appliances etc. It was founded almost a century ago. It ranks 7 as the largest consumer electronic company in the world by sales. Panasonic has become a well-trusted brand in the industry. Panasonic’s main products are consumer electronics, construction, rechargeable automobile batteries, industrial systems, home renovations, avionic systems, real estate, software, and home appliances.
Panasonic At A Glance – Marketing Strategy of Panasonic
Company : Matsushita Electric Industrial Co., Ltd
CEO: Kazuhiro Tsuga
Founder: Kōnosuke Matsushita
Year founded: 13 March 1918, Osaka, Osaka, Japan
Headquarters: Kadoma, Osaka, Japan
Annual Revenue: US$73 Billion
Profit | Net income: US$1.7 Billion
Number of employees : 244,000
Products & Services: Air conditioners | Refrigerators | Washing machines | Compressors | Lighting | Televisions | Personal computers | Mobile phones | Audio equipment | Cameras | Broadcasting equipment | Projectors | Automotive electronics | Aircraft in-flight entertainment systems
Competitors: Samsung | LG | Haier | Sony | Phillips | Whirlpool | Blue Star | Electrolux | HARMAN International | Canon USA | GoPro | Nikon | KEMET | Sharp | DELL
Panasonic Fun Facts: Since the Olympics in Seoul in 1988, the company has remained one of the top level sponsors of the Olympic Games.
Marketing Strategy of Panasonic
Panasonic’s Marketing Strategy covers various aspects of the business right from segmentation and targeting to the overall mission and vision of the company and the various parameters which the company executes to become the top brand that it has in the market. So what is the Marketing Strategy of Panasonic? Let us discuss.
Segmentation, Targeting, Positioning – Panasonic Marketing Strategy
The company has been able to use the strengths of each business by being present in a variety of lines of business. To address the growing opportunities in each market, it uses a mix of psychographic, geographical, and demographic segmentation variables.
Panasonic uses the Differentiating Targeting Strategy to make the product accessible to customers according to their requirements.
It employs a value-based positioning strategy, which means its business philosophy is to provide value products for customers.
Panasonic Mission Statement
“To contribute to the progress and development of society and the well-being of people worldwide”
Panasonic Vision Statement
“Becoming the No. 1 Green Innovation Company in the Electronics Industry, up to its 100th anniversary in 2018”
“A better life, a better world”.
Competitive Advantage – Marketing Strategy of Panasonic
Being present in Meta-Market: This is a great way for the company to explore and use the strengths of other businesses to build competencies.
Panasonic’s presence in different countries around the globe helps it gain access to a wide range of markets and customers. This helps businesses develop products for other countries and can make them competitive/ innovative in other markets.
Patents and trademarks: Panasonic owns more than 100000 trademarks and patents, which are a symbol of being innovative.
BCG Matrix – Panasonic Marketing Strategy
Its electronic appliances business segments and Eco solutions which deal in white goods, AVC network dealing in mobiles digital, surveillance cameras, and eco-solutions are stars of the BCG matrix. However, the automotive and industrial businesses are the questions marked in the BCG matrix.
Distribution Strategy – Marketing Strategy of Panasonic
Panasonic uses Multiple- Distribution channels to make its products easily accessible to customers.
The company’s sales channels include authorized showrooms, service centers, retail outlets, direct selling channels, resellers, distributors, OEMs (Original Equipment Manufacturer), and dealers.
Brand equity – Panasonic Marketing Strategy
From sponsoring the FIFA and cricket world cup matches to being an Olympic and Para Olympic partner. Panasonic has been associated with various institutions to increase its market visibility.
Competitive Analysis – Panasonic Marketing Strategy
The market for Panasonic products is crowded. There are many small and large players in the segments. Companies compete in different business segments. These include technological infrastructure to support main businesses, product portfolio availability of resources, branding, and distribution channel.
Market Analysis – Marketing Strategy of Panasonic
The market dynamics in the industry where Panasonic operates are changing because of the important role played by developing economies. The industry is affected by many factors, including government regulations, low-cost labor, and OEMs (original equipment manufacturers), as well as a large number of international players’ market share.
Customer Analysis – Panasonic Marketing Strategy
Panasonic customers range from individual customers to businesses looking for white goods/tech solutions for their ventures. The product type determines which customers are of different income levels and ages.
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