Asian Paints Marketing Strategy – Marketing Strategy of Asian Paints: The company was founded in 1942 to take over some of India’s most prestigious and well-known paint companies. Since 1967, the company has been a leader in the paint market with its customer-centric approach.
Asian paints group operates in 19 countries with subsidiaries such as Berger, APCO, Scib Paints, PPG Asian Paints, Taubmans, Sleek Kitchens, Kadisco, and many others. It is India’s leading paint group with a turnover of Rs 170.85 billion (2016).
Asian Paints At A Glance – Marketing Strategy of Asian Paints
Company : Asian Paints Ltd
CEO: Amit Syngle
Founder: Champaklal H. Choksey | Suryakant C. Dani | Arvind R. Vakil | Chimanlal N. Choksi
Year founded: 1 February 1942
Annual Revenue: US$2.7 billion
Profit | Net income: US$−322 million
Number of employees : 7672
Products & Services: Chemicals | Decorative paints | Industrial finishing products | Coatings
Asian Paints Competitors
Competitors: Berger Paints | Kansai Nerolac | Indigo Paints | Akzo Nobel | Sirca Paints | Shalimar Paints
Asian Paints Fun Facts: Like Apple, Microsoft, and a few other well-known companies Asian Paints was also started in a small garage in Gaiwadi, Mumbai. The founders had rented the garage for Rs. 75 a month.
Marketing Strategy of Asian Paints
Asian Paints’ Marketing Strategy covers various aspects of the business right from segmentation and targeting to the overall mission and vision of the company and the various parameters which the company executes to become the top brand that it has in the market. So what is the Marketing Strategy of Asian Paints? Let us discuss.
Segmentation, Targeting, Positioning – Asian Paints Marketing Strategy
Asian Paints segments the market using a mix of demographic, geographical, and psychographic segmentation variables, such as age and income group, geographic area, attitude, behavior, and many other attributes.
The company uses a differentiating strategy to meet the needs of each segment of customers.
Asian Paint uses value-based positioning strategies and usage classes to communicate with the customer the brand deliverables.
Asian Paints Mission Statement
Asian Paints Vision Statement
“To become one of the top five decorative coatings companies worldwide by leveraging its expertise in the higher growth emerging markets.”
Asian Paints Tagline
“Aspiring to inspire always”
Competitive Advantage – Marketing Strategy of Asian Paints
Strong product Portfolio: Its product portfolio includes a wide variety of paints that can be used for different purposes, such as Interior Wall Finishes or Exterior Wall Finishes.
Brand visibility: Asian Paints distributes products to every corner of the country. It makes its products with different SKU’s (stock-keeping units) on the shelves of stores, which creates high visibility.
BCG Matrix – Asian Paints Marketing Strategy
Asian Paints is involved in a variety of business segments, including the production of paints for decorative, home improvement, decor, and industrial use.
Because the brand is the market leader, all of its business segments are Stars within the BCG matrix.
Distribution Strategy – Marketing Strategy of Asian Paints
Asian Paints sells its products through distributors, wholesalers, and retailers. It has 26 paint manufacturing facilities worldwide, which serve customers in over 65 countries.
The group is not only active with Asian Paints but also has subsidiaries like Berger International Limited and Taubmans as well as SCIB Paints and Kadisco and Apco Coatings.
Brand equity – Asian Paints Marketing Strategy
Asian Paints has been ranked 8 on Forbes magazine’s list of the world’s most innovative businesses. According to the market capitalization value method, the brand is worth $ 16.1 billion and generates revenue of $ 2.25 trillion.
According to World’s Coating 2017, it was ranked 10 th among the top paint companies worldwide. Forbes has included it in their list of India’s Super 50 Companies.
Competitive Analysis – Asian Paints Marketing Strategy
Asian Paints competes with other players in the market, including those in product segments or meta-market industries.
Asian Paints is a competitor to other companies. We have integrated with painters, decorators, and architects to offer a full range of custom furnishing and decoration paints as well as other solutions for the industrial, automotive, and bathroom industries.
Market Analysis – Marketing Strategy of Asian Paints
Its market is affected by factors like Government regulations, bargaining power for suppliers, rising labor costs, a large number of competitors on the market, counterfeit and alternative products, etc.
The instrumental growth of this industry was due to the massive infrastructure development built in developing countries. Other factors include rising consumption, increased per capita income, and growing real estate prices.
Customer Analysis – Asian Paints Marketing Strategy
Asian Paint’s customers include homeowners, corporate, automotive companies, and distributors.
Its retail clients are people between 20 and 64 years old. They are middle-, upper-, and upper-income, while corporate customers are corporations, government bodies, or other institutions.
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