STRENGTHS: Panasonic has many strengths. One strength that it has is it is diversified, selling a variety of products in a variety of places (DATAMONITOR, 2011). It also has a great brand name making it widely recognized across the world (DATAMONITOR, 2011). WEAKNESSES: One big weakness it has is its revenue per employee is considerably lower than its competitors, resulting in Panasonic paying more for manufacturing (DATAMONITOR, 2011). OPPORTUNITIES: Its opportunities are that it is producing products for an industry that is growing both in necessity and popularity (DATAMONITOR, 2011). THREATS: Finally, Panasonic also has threats. Its two big threats are the ongoing economic recession and harsh government regulations making production tougher and more expensive (DATAMONITOR, 2011).
3D televisions are in demand due to its trendy attraction.
• Panasonic can, and has begun to capitalize on this opportunity through the use of market pricing. • Further, by increasing the accessibility to prompt customer service, Panasonic’s extremely well built 3D television can by waived of any poor reviews. hence increasing customer satisfaction as well as retention. • With the growing market for this sector of consumer goods, Panasonic has a prime opportunity to capitalize in other markets. However, its greatest chances at success lie within the American market. Therefore, Panasonic should focus on increasing market share through brand awareness and differentiation.
Panasonic focuses its resources to market its product to males over the age of 25 with an income of $50,000 a year and above. At 52.1%, over half of households in the U.S. earning an income over $50,000 a year, this gives Panasonic the potential to increase market share, sales, and brand awareness (Census, 2009). Due to the trendy nature of its product, and price skimming, Panasonic uses marketing strategies that focus on targeting educated, trend conscious, and...