I remember many of these radios well. There were very big with us kids in the early 1970's. In my neighborhood it seemed we all had the "globe" AM radio (mine was white.) That thing really pulled in stations. I wish I still had it.
I love how the phonograph in the picture has a Monkees (Colgems) 45 on the platter! That ad agency/photographer knew the exact demographic Panasonic was targeting.