Panasonic reaffirms commitment to consumer via co-creation with business partners, end-users.

Panasonic is celebrating the 100th anniversary of its founding with a special week-long event in Tokyo called Cross-Value Innovation Forum 2018. Company President Kazuhiro Tsuga kicked off the milestone event-taking place through November 3rd and expected to be attended by 50,000 visitors-with a keynote speech that focused on the company's strategy of looking forward to its second century through "co-creation" with business partners , customers, and everyday consumers.

Introduces "Lifestyle Update" Business

Introducing a concept called "Lifestyle Update" business, Tsuga explained that while Panasonic has traditionally been in the business of "upgrading," or improving the lives of individuals through home appliances and consumer electronics meticulously developed to completion, the company is now shifting to a strategy of providing "lifestyle updates." These come from products and services that evolve with the individual end-user's personal preferences and way of life.

Lifestyle updates will come from the use of data on personal lifestyle and consumption habits that are gleaned and applied in real-time.

Aims to Redefine the Panasonic Identity

Such a transition will require a fresh look at the Panasonic brand, which over the decades has expanded its range of businesses far and wide. "When Panasonic was a consumer electronics manufacturer, the company was easy to understand," Tsuga said. "However, on the eve of our Centennial, when we stepped back and took a look at the many things we do now-as a major supplier of batteries for electric vehicles, a provider of solutions for the factory production lines of other companies, and as a key player in a growing number of industries-we realized we no longer knew how to define ourselves."

Tsuga acknowledged that although company performance was proving satisfactory, he realized that more was needed. "We must understand in what way Panasonic can serve society," he said. Tsuga also realized that, despite the broad array of businesses-whether in the home appliance, automotive, factory automation, or other sectors-each one has remained true to the company's original philosophy of enhancing quality of life," he explained.

Partnering with China's Biggest Hot-pot Chain

Tsuga noted that modern trends in mobility and diversifying lifestyles and personal tastes create profound opportunities for Panasonic on a global scale. He cited examples where the company has aligned with partners to produce results.

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