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Market Strategy
According to Panasonic Website (2013) Panasonic carry out businesses in four areas,
namely residential, non residential, mobility and personal. 'Future Craft 'the design
philosophy of Panasonic which incorporates the spirit of creativity attached with in
the heritage of Japanese craftsmanship adhere to principles of universal design and
sustainability. Company design wide rang products for consumer electronics such as
audio visual equipment, communication devices, home electronics, cosmetics
appliances, lighting, cables, energy management, construction supplies, homes,
buildings and retail environments. Company's main mission is to supply customer
satisfaction in terms of product design globally. Panasonic's design centers spread in
the world together expect becoming the number one Design Innovation Company
by 2018.
In 2013 Panasonic has incorporated research and development Centre in its new
washing machine factory in Vietnam. The new factory concentrate on the
improvement of Panasonic's advanced eco and smart technologies underlying its
obligation for environmental sustainability. The factory focuses to achieve 50% of
production for the local market and the rest 50% for export to other ASEAN
countries. It targets manufacturing capacity of 600,000 sets of washing machines
per annum employing around 300 locals by 2014. R&D integration within the facility
serves as a launch pad for innovation as it develops advantage in home appliances
with advanced designs designed for the local market as well as other ASEAN
countries. This is also one step of product diversification strategy of Panasonic.
Panasonics' 'Modern Classic' LED bulb recognised with iF Gold Product Design Award
for second year running. Achieving brightness equivalent to that of a 40W
incandescent light bulb, there is a wider possibility for application and in turn a
significant contribution to energy save.The Gold design best 100 award was won by
the company for the product series using recycled materials.A product group that
utilizes recycled materials for their plastics and insulation. Product development
initiatives considerate of the environment as well as attractive design were highly
valued.Additionally Good Design best 100 award was won by Smartphone for the
compact design featuring a large screen which is water and dustproof. Its design
form and feel sit comfortably in one's hand. Long Life Design Award achieved for
Smart Archi Series, Pendant/Bracket Light for simple design that can use widely in
various locations such as offices and stores. This features timeless design that
followed 'one with architecture' concept. (Panasonic Website, 2013)
Full HD remote video camera got the Gold Award as it designed for usability. The
directional shape of the lens unit enables a smooth remote operation as the user
can see where the camera is pointing at. An easy maintenance is achieved through
a removable cover which provides a wide opening. The neutral form ensures that it
blends well into any environment wherever it is installed. Panasonic has won the
Gold Award at the Design Excellence Awards 2012 (IDEA 2012) for Clear Glass LED
Bulb also obtained a Gold Award at the 2011 Good Design Award in Japan and the
2012 if Product Design Award in Germany, widespread Gold awards at three
competitive design contests in the US, Germany and Japan.
Another competitor Samsung Electronics' vision is, "Inspire the World, Create the
Future." This new vision reflects Samsung Electronics' commitment to stimulating its
communities by managing Samsung's three main strengths: "New Technology,"
"Innovative Products," and "Creative Solutions." and to promoting new value for
Samsung's core network: Industry, Partners, and Employees. (Samsung website,
2013). As per Annual report of Samsung (2012: p.1-5) Samsung Electronics at the
lead of changes, delivering both exciting innovation and exceptional value to people
and communities around the globe. Company's obligation is focused on smart and
genuine innovation, a transformational change that creates a well world. Samsung
Electronics brand is gaining strength and value globally. In 2012, Samsung ranked
first on the list of US top patent assignees. More patents strengthen Samsung
position among its competitors. The firm also won many awards for the design of its
products, proving the superior advantage over the competitors.