Panasonic plans to go local with its new product ranges

Panasonic recently announced that is investing Rs 1500 crore investment for the next three years as their renewed focus to concentrate on the B2B (Business to Business) and B2G ( Business to Government) segment as they plan to heavily to invest in advertising and marketing. The company is aiming to double the contribution of B2B segment to Panasonic's overall revenue by introducing new product ranges.

The new range from Panasonic include the Energy Solutions - products for creating, storing and saving energy- security and surveillance systems while focusing on the key strategy of fueling growth in India by providing solution for the local needs and demands of people. The brand also is looking at collaborating with Indian enterprises for the same.
 
"While working on providing localized products, there is a huge emphasis on local manufacturing going forward towards meeting up with the competitive Indian market. Also, with the government proactive to develop a framework to bring major transformation in the ecosystem to promote local manufacturing, Panasonic is keen to work together with other Indian companies with the aim to fuel the growth process,” said Kazuhiro Tsuga, President of Panasonic Corporation,
 
To empower consumers and increase awareness about products, Panasonic is educating customers through branding, shop promotions etc., hence 7-8 % of the total revenue of Panasonic India goes in advertising and sales promotional budget, while the division for ATL and BTL activities is 50-50.
 
Considering the fact that the Indian consumer is evolving, it is still a challenge for a brand to communicate its value over price as majority of consumers get influenced by the pricing over quality. Commenting on this, Kazuhiro Tsuga said, "We have started plugging the price gap without compromising on quality aspects. Panasonic has overhauled its retail strategies unleashed new products in different categories and stepped up advertising and marketing spends and will continue to meet the expectations of a varied class of customers.”
 
The company is all geared up to enter the IT products segment soon considering the existing demand and requirement across the diverse population in India. With over 155 exclusive brand stores and 80 P4 (Panasonic Premium Partner Program) outlets spread across the country; the company is now looking to expand to more stores in the coming year.