Asian paints marketing analysis

A brief analysis of marketing strategy used by Asian paints

1. ASIAN PAINTS STRATEGY ANALYSIS NAME- SANHITA GHOSH STUDENT CODE – BWU/MBA/21/007

2. INTRODUCTION Founded 1 February 1942 Founders Champaklal Choksey, Chimanlal Choksi, Suryakant Dani, Arvind Vakil CEO Amit Syngle (1 Apr 2020 - Present) Key People Ashwin Dani (Chairman) Manish Choksi (Vice Chairman) Amit Syngle (CEO) Abhay Vakil (Non Executive Director) Revenue INR ₹ 22,016  crores Total assets INR 20,370 crores Type Public Industry Chemicals

3. VISION & MISSION VISION STATEMENT “Asian paints aims to become one of the top five decorative coatings companies worldwide by leveraging its expertise in the higher growth emerging markets” MISSION STATEMENT “To provide paints as per market demand, ensuring desired level and quality of customers service, continued availability of right product mix of right quality at the right time”

4. HOW IT ALL STARTED Asian Paints  was started in 1942 by four  entrepreneurs. Champaklal H. Choksey, Chimanlal N. Choksi, Suryakant C.Dani, and Arvind R. Vakil.  Asian Paints was known as ‘The Asian Oil & Paint Company' in the beginning . In 1945, the partnership firm turned itself into a  private limited company  following a turnover of INR 0.35 million that year. In 1957, Asian Paints achieved a breakthrough when its  R&D department developed a process for producing international-quality phenolic and maleic acid resins in a simple coal-furnace through hand-stirring.  By 1967, Asian Paints became the  leading paints  manufacturer   in India.

5. Dropping The Mascot New Logo made by Soha Ali Khan in September 2012 I conic mascot  Gattu made by famous Indian cartoonist R.K. Laxman in 1954.

6. Global Analysis of Asian Paints Asian Paints in South Asia ( India,  Bangladesh, Nepal, and Sri Lanka). SCIB Paints in Egypt. Berger in South East Asia (Singapore), Middle East (UAE, Bahrain, and Oman), and the Caribbean (Jamaica, Barbados, and Trinidad & Tobago). Apco Coatings in South Pacific (Fiji, Tonga, Solomon Islands, and Vanuatu). Taubmans in South Pacific (Fiji and Samoa)

7. Product Strategy Asian Paints Royale targeted at the premium segment Apcolite, tractor emulsion, tractor distemper targeted at the economy segment EXPLANATION Asian Paints’ core product is decorative and industrial paint. Along with that, the company offers solutions and services for home paintings. Instead of having one homogenous target audience, the company uses a differentiating targeting strategy to cater specific products to different segments of customers . Asian Paints also provides protective coatings, undercoats, primers and putties.  Asian Paints, hence, provide complete painting solutions including accessories and tools.

8. Price Strategy Asian Paints follows different pricing strategies according to the targeted segment. T he Royale product range is marketed towards high-income groups and hence, is priced higher. Asian Paints follows a value-based pricing approach for the medium and economic segments. As per the exclusive features in the product category, the price also varies. The pricing decisions are often influenced by the raw material used to manufacture paints, as well as competitors’ prices. The company’s success can also be attributed to its high incentives for distributors.

9. Asian Paints Marketing Campaigns

10. RK Laxman’s Gattu  Ka Jadoo  In 1954, Gattu- a mischievous boy with a paint bucket in his hand – was launched and found its fan base in India’s middle-class population. Gattu helped in bringing the commodity-led business of painters to the actual end users of home-owners.

11. ‘Mera Wala…’ does it all { early nineties} In the early nineties, black and white ruled the market while colors and paints were far fetched choices. Consumers were not used to taking a decision for which color to adorn their house walls. Cut to Asian Paints rolling out ‘Mera Wala Blue’ campaign where a couple on a road trip in the desserts of Rajasthan chase the blue color turbaned man to paint her ‘ ghar ki deewa r’ with the same color. The tagline became so popular that people would go to the hardware shops and ask for ‘Mera Wala Blue/Cream’.

12. Asian Paints, Ogilvy and Festive Advertising{ In the early 2000s} After RK Laxman stopped drawing the cartoon, Asian Paints and Ogilvy joined hands to launch a new marketing strategy by focusing on festive occasions with their tag line  “Har Ghar Kuch Kehta  Hain “  (Every home says something about its owner). The consumers were now looking for more and a change. Ogilvy’s creative minds with the brand team banked on festivals like Diwali and Pongal, occasions like childbirth and marriages to take the iconic ‘Gattu’s familiarity and brand image to the next level. The insight was an instant hit and thus was born the ad campaign for ‘Har Ghar Kuch Kehta Hai’ proposition.

13. From a Paint company to Home Decor and solution provider{ September 2000} In the later years, catching hold of the changing times and consumer’s decision making power, the brand took a decision to transform from being a simple paint can company to being a solution provider. It went onto launch it’s ‘ Home Solutions where Asian Paints started painting services through a dial-in facility.

14. “Where The Heart Is.”{2017} This campaign proved to be a masterstroke strategy for Asian Paints.   It featured  celebrities such as  Sushant Singh Rajput , Saurav Ganguly, Radhika Apte, Mandira Bedi, and others who described the significant role Asian Paints played in their lifestyle through color and home décor.

15. #PeopleAddColour .{2018} This campaign created a heart-warming depiction of paying guests not being inferior to one's family. It showed how rooms refurbished with Asian Paints decals brought paying guests closer to their landlords.

16. ‘Budget wala paint’{MARCH 2021} This Ad campaign ‘Budget wala paint’ promotes Tractor Sparc Emulsion. By highlighting the budget issues faced by consumers, Asian Paints launched a pocket-friendly paint that offers a rich-looking finish at an affordable price.

17. Asian Paints Digital Marketing Strategy Asian Paint’s digital presence is handled by the ad agency Kinnect. They are most engaging on Instagram, where they regularly post home decor inspiration and designs, mentioning every product used in detail, for ease of the consumers. They host decor competitions periodically, especially during festivals such as Navratri, Diwali, X-Mas, etc. This encourages consumers to decorate their spaces and engage with the company in order to win exciting services and prizes. They are doing pretty well at influencer marketing as well, collaborating with popular Instagram figures who have used Asian Paints’ services. These influencers then conduct ‘house tours’ on their pages, promoting Asian Paints.

18. Conclusion Asian Paints is certainly doing well for itself in the market with apt product segmentation and positioning, occupying a major chunk of consumer share. Its marketing strategies are effective, satisfying the consumers’ needs and maintaining its brand image as undoubtedly one of the best in the industry. The company’s marketing campaigns strike the right note with viewers and keep them interested in what they have to offer. Their Instagram presence is quite strong and up to speed with digital media advances. All in all, Asian Paints has evolved and maintained its brand quality and image very well.