Research Paper on Gaps of Panasonic

Paper Type:  Research paper
Pages:  5
Wordcount:  1237 Words
Date:  2022-04-07
Categories: 

Introduction

Panasonic is one of the global leaders in the development of a wide range of electronic technologies and solutions. The company was founded in March 1918 and incorporated in December 1935 with its head offices in Japan (Panasonic Corporation, 2018). This paper seeks to evaluate Panasonic Corporation and identify 12 gaps critically.

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Gap #1: Gap in the Automation of Marketing Processes

Panasonic has not implemented Marketing Automation, which is software that facilitates the automation of various repetitive marketing activities and processes in an organization. The implementation of the technology helps the company to promote its products through a range of digital tools to convert potential buyers to buyers, and existing buyers to delighted customers (WSI, 2013). Despite the fact that the company makes use of web analytics and customer relationship management, marketing automation is critical to automate repetitive activities in social media marketing.

Gap #2: Gap in Generating Demand

There is a gap in the way the company generates demand for its products. The existence of this gap is caused, in part, by the lack of use of webinars and webcasts. These technologies are essential both in driving new leads and engaging the existing leads. Webinars have been found effective in lead generation for B2B marketing activities (Hanley, 2016).

Gap #3: Gap in Building Brand Awareness

According to a survey by Interbrand, it was found that only 11 percent of the respondents in the UK were aware that the company was also involved in the B2B business (Interbrand, 2017). Many of the respondents only knew Panasonic as a player in the consumer markets and not in the B2B markets.

Gap #4: Gap in the Product Range

The company's products fall into four broad categories. They include electronic appliances, automotive, eco-solutions dealing, and industrial business (Bhasin, 2018). There are other products that the company can manufacture, such as computers. Increasing the range of products and services will not only increase the market share but also the sales and revenues.

Gap #5: Gap in the Sponsorship Activities

Although the company has several sponsorship programs, they are not adequate to promote the company in the competitive environment. The company is highly involved in the sponsorship of Olympics, but the activities are mainly concentrated in Japan, Europe and America (Tokyo 2020, 2016). There is a gap in Africa since the company also has existing and potential customers on the continent.

Gap #6: Perception Gap

Consumer perception is critical to the success of a business organization. The perception of the customer towards a business organization does not only influence their decision to buy the company's products but also how the customers will influence their friends and family members about purchasing or not purchasing the product (Stone, 2017) (Hill & Jones, 2008). The technologies introduced by Panasonic in North America were perceived as disruptive (ITSMA, 2017). The marketing activities should be directed at influencing customers to develop a positive perception towards the company's products.

Gap #7: Gap in Pricing Strategy

In the marketing of its products, a business organization has to abide by the legal requirements in the country where it is operating. Panasonic's pricing strategy is based on charging lower and competitive prices for its products. The company was fined a total of7.7 million euros for involvement in price-fixing, which is a violation of the European competition law (AFP, 2011). The company's marketing department needs to adopt a pricing strategy that doe does not violate existing laws.

Gap #8: Gap in Data Tracking

Although the company has increased its B2B marketing campaigns from 80 in a period of one year to one after every two hours, data is not tracked to assess the effectiveness of the campaigns (Hobbs, 2015). Filling the gap in the tracking of data will help to assess the contribution of marketing strategies to marketing results and determine actions for improvement (Lake, 2018).

Gap #9: Gap in Meeting the Demand for Green Electronics

Today, both consumer and business customers have an increasing demand for products that promote a sustainable environment. Many of the products marketed by Panasonic, such as electronic appliances and automotive products are not biodegradable. The company will have to produce and market products made from reclaimed and recycled inputs (Kanellos, 2010).

Gap #10: Gap in Building Brand Loyalty in China

There are several players in the electronics industry in China, implying that brand switching is a problem for Panasonic. Some of the strong players include Sony, LG, and Canon (Dasgupta, 2016). Panasonic's marketing department should come up with ways of building brand loyalty. Consumers keep switching from one brand to another.

Gap #11: Gap between Panasonic and Chinese Low-End Phones

The willingness and the ability to but a specific mobile phone is influenced by the price charged in comparison to other brands of the same type. Buyers of low-end phones are highly sensitive to price. That is why low-end Chinese brands are sold more in India that Panasonic's low-end phones. The company was forced to discontinue the manufacture of low-end phones in India (Mukherjee, Writankar, & Aulakh, 2017).

Gap #12: Gap between Sales in China and Europe

The amount of sales realized by the company in China is considerably lower when compared to the sales in Europe. To increase the sales and revenues earned from China, the company will have to increase the workforce in China by 20 to 30 percent (Tabeta, 2017). This could help in doubling the sales.

Conclusion

In conclusion, there are several gaps in Panasonic's operations that can be addressed through an effective marketing and advertising approach. Filling the gaps will enhance the profitability and overall competitiveness.

References

AFP. (2011, December 8). Panasonic fined in European price fixing case. Retrieved March 22, 2018, from Vietnam Investment Review: Panasonic fined in European price fixing case

Bhasin, H. (2018, March 6). Marketing Strategy of Panasonic - Panasonic Marketing Strategy. Retrieved March 22, 2018, from Marketing91: https://www.marketing91.com/marketing-strategy-panasonic/

Dasgupta, S. (2016, September 12). https://www.japantimes.co.jp/news/2017/08/14/business/corporate-business/panasonic-india-plans-big-push-smartphone-market-dominated-chinese-south-korean-brands/#.WrOSpB1ua1t. Retrieved March 22, 2018, from https://www.thenational.ae/business/china-s-efforts-to-build-brands-for-itself-fail-to-leave-a-global-mark-1.230669

Hanley, C. (2016, April 18). 5 Marketing Technologies Critical to Your Demand Gen Strategy. Retrieved March 23, 2018, from PGi: https://www.pgi.com/blog/2016/04/5-marketing-technologies-critical-demand-gen-strategy/

Hill, C., & Jones, G. (2008). Strategic Management: An Integrated Approach. New York, USA: Houghston Mifflin Company.

Hobbs, T. (2015, July 31). Panasonic's marketing director on how programmatic has transformed its brand. Retrieved March 23, 2018, from Marketing Week: https://www.marketingweek.com/2015/07/31/panasonics-marketing-director-on-how-programmatic-has-transformed-its-brand/

Interbrand. (2017). Repositioning the Panasonic brand for growth. Retrieved March 22, 2018, from http://interbrand.com/best-brands/best-global-brands/2016/ranking/panasonic/repositioning-the-panasonic-brand-for-growth/: http://interbrand.com/best-brands/best-global-brands/2016/ranking/panasonic/repositioning-the-panasonic-brand-for-growth/

ITSMA. (2017). Honoring standout performance in marketing. Research Consulting Training Community.

Kanellos, M. (2010, October 6). Panasonic Aims for Top Spot in Green Electronics. Retrieved March 22, 2018, from gtm: https://www.greentechmedia.com/articles/read/panasonic-aims-for-top-spot-in-green-electronics#gs.c5CXInY

Lake, L. (2018, March 18). Learn About the Key Success Factors in Marketing. Retrieved March 23, 2018, from The Balance: https://www.thebalance.com/what-are-key-success-factors-2295508

Mukherjee, Writankar, & Aulakh, G. (2017, July 15). Panasonic will no more make low-end phones in India, thanks to Chinese brands. Retrieved March 23, 2018, from Brand Equity: https://brandequity.economictimes.indiatimes.com/news/business-of-brands/panasonic-will-no-more-make-low-end-phones-in-india-thanks-to-chinese-brands/59153895

Panasonic Corporation. (2018). Company Overview. Retrieved March 22, 2018, from https://www.panasonic.com/global/corporate/profile/overview.html

Stone, D. (2017, May 16). The Importance of Perception in Business. Retrieved March 22, 2018, from https://www.donna-stone.com.au/perception-importance-business/

Tabeta, S. (2017, December 28). Panasonic sees pure opportunity in China's smog. Retrieved March 22, 2018, from Nikkei Asian Review: https://asia.nikkei.com/Business/Companies/Panasonic-sees-pure-opportunity-in-China-s-smog

Tokyo 2020. (2016, August 18). Tokyo 2020 Welcomes Panasonic Corporation as a Tokyo 2020 Paralympic Gold Partner. Retrieved March 22, 2018, from https://tokyo2020.org/en/news/sponsor/20160825-01.html

WSI. (2013). Digital Minds: 12 Things Every Business Needs to Know about Digital Marketing. Manitoba, Canada: FriesenPress.

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Research Paper on Gaps of Panasonic. (2022, Apr 07). Retrieved from https://proessays.net/essays/research-paper-on-gaps-of-panasonic

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