Digital is predicted to take the lead with roughly 45-50 percent of overall spending, followed by TV at 30 percent and a balance of print, OOH, and radio at the other end of the spectrum.
Consumer durables companies appear to be confident about a rebound in the industry after a two-year slog caused by the pandemic. In comparison to the previous financial year, Panasonic India expects to boost its marketing investment by 35-40% in FY23.
The business maintains that as a result, marketing and advertising spending will be comparable to pre-Covid levels. Digital, which includes social media, video advertisements, display ads, and influencer marketing, is predicted to take the lead with around 45-50 percent of overall ad spends, followed by TV at 30 percent, with print, out-of-home, and radio making up the rest. “This is the third year in a row that digital will outspend traditional advertising.”When it comes to consumer durables purchase, digital is where consumers seek, discover, and study, and the medium continues to play an essential role,” Shirish Agarwal, head brand and marketing, Panasonic India, told BrandWagon Online.
With the arrival of summer, the business has launched a new campaign called “AC for healthier homes” to market its smart air conditioners. “People are quickly recognising that their four walls may be safe, but they are not always healthy.” The new campaign emphasises the value propositions of Panasonic’s smart ACs, with health and cleanliness rising as major considerations for customers today,” Agarwal added.
According to the corporation, 40-45 percent of the campaign’s expenditure will be spent on TV, with the remaining 30-35 percent going to the internet and the balance going to print and OOH, depending on market needs. On television, the corporation will promote the upcoming Indian Premier League as well as news networks (IPL). In the case of the IPL, it claims to advertise during the first 20 days of the competition. According to Agarwal, television as a medium will aid in increasing reach. On February 18, the campaign will launch in Kerala, followed by Andhra Pradesh, Karnataka, Tamil Nadu, and other states by March 18, 2022.
On television, the corporation will promote the upcoming Indian Premier League as well as news networks (IPL). In the case of the IPL, it claims to advertise during the first 20 days of the competition. According to Agarwal, television as a medium will aid in increasing reach. On February 18, the campaign will launch in Kerala, followed by Andhra Pradesh, Karnataka, Tamil Nadu, and other states by March 18, 2022.
The company, which has previously been available on e-commerce platforms such as Flipkart, Amazon, Croma, and Reliance Digital, among others, now wants to develop its own direct-to-consumer portal as part of its digital strategy. “D2C assists in obtaining first-party data, which allows for more precise targeting and customisation of communications based on consumer preferences. We are currently in the pilot phase. We want to launch our D2C platform in the second quarter (April-June),” Agarwal said.
