Advertising will focus on four or five high-tech electronics products, internally named as the V range. These will cover home cinema, flatscreen TV, DVD recorders and digital cameras.
Marketing plans for its mobile phone range have yet to be decided, but it will be heavily involved in the UK's take-up of 3G.
The campaigns will focus on Panasonic's reputation for technical excellence in its home market, Japan, where it is the market leader. The company is keen to build a similar reputation and position in Europe, where Panasonic is only the third-placed electronics brand.
Panasonic and Vizeum declined to specify the amount of next year's media budget, but said it would represent 'a very significant increase'.
Vizeum will take responsibility for Panasonic's brand and communications strategy as well as media planning and buying.
Interpublic Group agencies Initiative and Universal McCann had managed most of the business, with Universal McCann servicing the account in the UK and Springer & Jacoby in Germany. Media will continue to be bought on a country basis.
The appointment follows a three-month pitch conducted by Effective Media Management.
Yoshiiku Miyata, managing director of Panasonic Marketing Europe GmbH, said that Vizeum's 'motivation proposition' was key to its appointment.
Panasonic will try to exploit rival Sony's poor performance in Europe.
Sony has been badly affected by the proliferation of cheap products such as TVs, DVD players and MP3 players.
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