The main areas of improvement required in their next outing against Ireland on Thursday night will be better strategies to combat the lineout drive and tighter defence, because they allowed the Italians to score four tries.
"Defensively we want to be better, but we also want to play, and sometimes it's a bit of risk and reward," Philpott said.
Winger Caleb Clarke scored two tries with his brand of speed and power while fullback Will Jordan scored a brilliant chip-and-regather try.
Replacement back Tamati Tua scored a solo 80m try and centre Braydon Ennor showed some classy touches, scoring a try and setting up another.
While Italy's forwards were big and committed their backs offered little on attack, whereas the Baby Blacks backs continually punched holes out wide. Ireland, who beat New Zealand last year, were beaten 32-28 by Scotland in the other Pool B match.
"Ireland will have everything to play for against us," Philpott added.
Scorers:
New Zealand 68 (Caleb Clarke 2, Will Jordan, Orbyn Leger, Jona Nareki, Braydon Ennor, Pouri Rakete-Stones, Tamati Tua, Adrian Choat tries; Tiaan Falcon 5 con, 3 pen, Leger 2 con) Italy 26 (Simone Cornelli, Niccolo Cannone, Michele Lamaro, Alberto Rollero tries; Filippo Di Marco 3 con). HT: 39-21.