IN order to become a major market player in the consumer-appliance industry in the Philippines, Panasonic Philippines said it will aim to double its sales from P7 billion to P14 billion in 2018.
Leonardo Garcia, manager of consumer group marketing of Panasonic Philippines Corp., said the company will have to expand its channels to reach out to more consumers in the market.
“As part of expanding our market range, we decided to introduce our high-end products in the Philippines because the purchasing power of Filipinos has been increasing, brought about by the economic growth of the country,” he said in a media briefing held in Pasay City.
Known for selling safe and sturdy appliances for the C, D and E market segments, Garcia said that starting this year, Panasonic will carry products that promote the themes of aspiration, safety and reliability to the market.
Garcia said the company will also target the younger generation because it has huge potential to be a growth driver in the future. With a 100-million population with the majority belonging to the youth market, he noted it would be logical for the company to build a strong presence in this segment.
Panasonic Manufacturing Philippines Corp. (PMPC) has two factories located in Taytay in Rizal and Santa Rosa city in Laguna. The Taytay plant manufactures refrigerators, washing machines and electric fans, while the factory in Santa Rosa produces window-type air conditioners.
To ensure their products will possess the highest quality, Garcia said that starting in 2015, Panasonic will share its best practices in product development from Japan to the rest of Asia.
Factories in the Philippines will be using high-end materials to finish its products.
In the same briefing, Panasonic Philippines Vice President Masaru Toyota said the company will also utilize social media to promote the company especially to the youth market.
“We need to promote the Panasonic brand because it is not familiar with the younger generation,” Toyota said.
By using social media, Toyota said Panasonic can go directly to its target market, and at the same time, help the company to achieve cost-efficiency.
He said Panasonic will be active in Facebook and Twitter to boost its market presence in the millennial market.
“We will introduce our social-media campaign in April this year,” he said.
He said the move to use social media proves that Panasonic is receptive to change that can withstand the competition from other brands and survive for a long time.
“We will complement our use of social media with excellent customer relationship,” Toyota said.
He said introducing high-end products in the Philippine market is an indication that the country has now a higher consumer-spending power and Filipinos want to aspire to a better quality of life.
Nobuo Yasuhira, president and chairman of PMPC, said the subsidiary of the Japanese manufacturing giant will continue to innovate and introduce advanced technologies to meet the changing lifestyles of its customers. “We will develop products that would bring quality living to our customers,” he said.
Aside from introducing the latest refrigerators, air conditioners and washing machines, Panasonic also introduced beauty products such as hair dryers, eyelash curlers, facial steamers and shavers.