In a MediaBrief exclusive, Sunil Narula, Senior Vice President of Marketing and Alternate Channel at Panasonic Life Solutions India, speaks about the transformation of advertising expenditures in the consumer electronics sector and the emerging trends shaping the industry.
Narula highlights the growing demand for consumer electronics in tier-2 and tier-3 cities and explains how Panasonic Life Solutions India is leveraging digital channels to enhance its market presence and target specific demographic segments effectively.
He also shares insights into the company’s festive season marketing strategy and outlines plans for future growth.
Outlining how advertising spends have evolved in the consumer electronics sector and the emerging trends in ad spends shaping the industry, Narula states, “In recent years, the shift towards digital advertising in India’s electrical materials industry has become increasingly evident, with a rapid rise in investment in online platforms compared to traditional TV and print media.”
“Particularly, advertising through social media, search engines, and influencer marketing has seen significant growth,” he shares, “with content focused on consumer engagement becoming a prevailing trend.”
“A new trend that has emerged is the use of regionally customized advertising strategies, as well as focused campaigns around festive seasons,” he reveals, stating that, “These remain key elements for brand visibility, and the industry as a whole is increasingly moving towards strengthening brand presence and fostering direct communication with consumers.”
Further, Narula says, “It would also be appropriate to mention that the electrical industry is also seeing substantial communication and engagement with influencers like electricians, electrical contractors, consultants, and architects.”
How Panasonic leverages Digital channels
Discussing Panasonic Life Solutions India’s focus on digital platforms, Narula shares, “Recognizing the recent trends, we acknowledge the increasing importance of digital platforms. While continuously considering the optimal combination of digital and non-digital approaches, we aim to maximize our market presence.”
“We strategically deploy digital ads to complement sales activities, targeting specific regions and demographics,” he adds. “As part of our proactive approach to staying ahead of industry trends, we are committed to further strengthening our investment in digital initiatives. Given the clear return on investment that digital offers, we maintain the flexibility to expand our budget further to support successful business growth,” he adds.
Panasonic’s retailer programs to expand market reach
Narula reveals that the expansion of Tier 2 and Tier 3 markets has been remarkable. “As a company, we have strengthened our sales structure to increase retail coverage and provide comprehensive sales support,” he shares.
“Building on these efforts, we have implemented a loyalty program to ensure that customers fully appreciate the benefits of purchasing our products. We have initiated this loyalty program for almost a year now and have seen a great impact on the relationship with retailers and sales too,” Narula expands.
“Our program effectively leverages the digital platform created by us and is helpful in reaching out to retailers in the lowest tiers of the country, thanks to easy access to the internet and smartphones in these markets,” he adds.
Narula on demand in Tier 2 and 3 markets
Elaborating on the factors that have driven increasing demand from Tier 2 and Tier 3 cities, and the consumer preferences in these markets, Narula says, “In India’s Tier 2 and Tier 3 cities, the demand for electrical materials has steadily increased in recent years, driven by infrastructure development and economic growth.”
“In these markets,” he adds, “the expanding middle and upper-middle-class consumer segments are showing a growing preference for high-quality, reliable, and well-designed products as their living standards improve.”
According to Narula, “Consumers in these areas tend to be price-sensitive, yet they place high value on brand reputation, product durability, and after-sales service.”
“As a company that excels in these areas, we believe we are well-positioned in the market. We recognize the importance of continuing to implement localized strategies to further strengthen our presence in these regions,” he states.
Panasonic aligns with the changing needs of consumers
Narula goes on to explain how Panasonic Life Solutions India has evolved its brand to align with the changing needs of Indian consumers. “At Panasonic Life Solutions India, we have strategically evolved both the Panasonic and Anchor brands to respond to India’s rapid economic growth and the diversification of consumer needs,” says Narula.
“For the Panasonic brand,” he says, “we have focused on reliability and innovation, introducing energy-efficient products and smart home technologies to the Indian market, meeting the growing demand for technological advancements. In addition to offering products, we are actively engaged in environmental conservation to promote sustainable growth, further enhancing our brand value and trustworthiness as a company.”
“On the other hand,” he adds, “the Anchor brand, deeply rooted in the Indian market, continues to provide high-quality electrical materials at affordable prices, gaining strong support from a broader consumer base. To meet the growing demand in Tier 2 and Tier 3 cities, we have developed products tailored to local needs and implemented marketing initiatives that resonate with the regional culture.”
“By leveraging the strengths of both brands, we will continue to maximize brand perception across India’s diverse consumer segments and achieve sustainable growth in the future,” affirms Narula.
Narula on integrating digital and traditional advertising
Narula believes that integrating multiple media, in today’s digital-first world, is very critical. “One of the most important elements to bring in seamless integration is consistency in messaging,” he says. “Ensuring a complete sync between agencies and teams (offline and online) is imperative to maintain consistency in messaging, thus ensuring a seamless customer experience across platforms.”
Understanding consumer behavior in regional markets
Highlighting the importance of understanding regional consumer behavior and preferences to craft effective marketing strategies, Narula explains that “understanding the behaviors and preferences of local consumers is crucial and critical, especially in India, which boasts a rich diversity of languages and cultures across regions.”
“Due to varying social environments and cultural contexts, the insights that influence customer purchasing decisions can differ significantly,” he explains. “Even within the same income brackets, data shows that the designs and prices that succeed in promotions can vary. This is a fascinating aspect that underscores the importance of interpreting local consumer preferences.”
Panasonic India’s festive season strategy
Sharing Panasonic Life Solutions India’s marketing strategies and new launches for the festive season, Narula states, “Retail visibility and festive content creation (for digital platforms) are the focus areas for the upcoming season. We will also be launching a new range of soft switches (an extension of our existing category) in some of our strong markets.”
Also read: Exclusive – Brand leaders embrace technology, personalization to elevate festive marketing
Future vision for Panasonic Life Solutions India
To wrap up the interaction, Narula outlines the future vision for Panasonic Life Solutions India, revealing: “To enhance our competitiveness in the future, we aim to focus on branding. Since acquiring Anchor in 2007, we have expanded our business using both brands. In an environment where international and local competitors are vying for attention, it is crucial to strengthen our communication with customers by leveraging our distinct identity, in addition to our traditional strengths in manufacturing and product quality.”
“We are also enhancing our efforts in improving our relationship with influencers by improving the effectiveness of our digital loyalty platforms like SmartSaver (Electricians) and Samridhi (Retailers),” he concludes.
