MUMBAI: greater than Japanese electronics Panasonic announced that it will substantially increase marketing expenses for the subsidiary of consumer electronics products "Panasonic Life Solutions India Private Limited", to Rs. 150 crore this tax.
This was revealed by the managing director of Panasonic Life Solutions India Private Limited Vivek Sharma during a press conference announcing the change in the corporate and legal identity of the wholly owned subsidiary of Panasonic "Anchor".
Speaking at the event, Sharma noted that Panasonic Life Solutions has experienced impressive growth of 3 times in the last two years. The senior executive is positive for the new growth of the post-election after-election consumer products industry, as programs like GST have already done. Greater investment in the sphere of advertising and marketing will therefore help the brand to take advantage of these opportunities by connecting better with consumers.
Speaking of his plans to use the major marketing budgets, Panasonic Life Solutions Vice President India Private Limited (formerly Anchor Electricals Pvt. Ltd.), Sunil Narula, told Indiantelevision.com that the brand is already focusing on improving consumer connectivity over the past 18 years. months and intends to do more things in the future.
He said: "Most of our advertising expenses will now look to improve consumer connectivity, which means there will be a lot of media spending. At the same time, we will maintain our connection with influencers: electricians, architects and consultants. We already have about 35,000 electricians on our digital platform, where we engage with them and motivate them. This helps us stay on top of their minds. "
Drawing more on advertising costs, Narula emphasized that there will be a dramatic increase in their digital expenses.
"Television will obviously be the main medium. A good part of the advertising cost, that is 65-70%, would go on TV. It will be followed by OOH, which will employ about 7-8% of our total budget. Then we have the radio at 4-5%. Digital is something we started (only) a year ago and we're spending 3-4% of our total marketing money on it, which will increase dramatically over the next two years. We could take it to 7-8% and even beyond, because we have seen that digital is helping us a lot to increase the connection of the brand with consumers, "he said.
Asked if more advertising spends on digital would mean a deduction from TV, Narula responded negatively. He said, "No, we are not cutting TV spending to invest more digitally because, fortunately, we are increasing our announcements every year. There is a constant effort to pump a good amount of money to ensure that the our visibility is high on the market. To cite an example, we spent 70% more on advertising last year than on the previous one ".
After a decade of acquisition by the Japanese electronics company Panasonic, Anchor Electricals Pvt. Ltd. announced the modification of its legal entity to "Panasonic Life Solutions India Private Limited", with effect from 1 April 2019. L & # 39; corporate identity, "Anchor by Panasonic", has been changed to "Panasonic".
The identity, however, will not affect the market positioning of both brands. As shared by Sharma and Narula, this change affects more legal and corporate aspects. The two brands will coexist in the market.
"The anchor as a brand is aimed at consumers with good value for money, which has happened in the last fifty years, and Panasonic as a brand will appeal to premium consumers. While we are also climbing the ladder when it deals with anchor brands and trying to occupy space between value for money and premium, "added Narula.