ASIAN PAINTS CASE STUDY
Asian Paints is an Indian paint manufacturing firm established since 1942.It is the top paint business in India that specializes in producing, marketing, and distributing paints, coatings, and other goods for interior design, bathroom fixtures, and other uses. It is the third-largest paint corporation in Asia and the biggest paint corporation in India.
Asian Paints Marketing Mix
• Product Strategy
The organisation uses a differentiated targeting strategy to target particular items to various client categories rather than having a single homogeneous target audience, as will be discussed below:
– Asian Paints Royale targeted at the premium segment
– Apcolite, tractor emulsion, tractor distemper targeted at the economy segment
– Asian Paints also provides protective coatings, undercoats, primers and putties. The products in the marketing mix of Asian Paints, hence, provide complete painting solutions including accessories and tools.
• Price Strategy
Asian Paints employs a variety of pricing strategies based on the market segment it is targeting. The Royale product line is priced higher because it is targeted at wealthy individuals. For the medium and economical markets, Asian Paints uses a value-based pricing strategy. The price also varies depending on the exclusive features in the category of products. The raw materials used to make paints and the prices of competitors often have an impact on pricing decisions. Asian Paints has implemented a flexible pricing strategy.
• promotion Strategy
Asian Paints has carried out a number of highly successful promotions over the years. The brand mascot Gattu, a 1954 cartoon created by R.K. Laxman that went on to become a popular and well-known figure for more than four decades, is one of its most famous characters. The company’s primary focus is on families and building emotional connections with customers. They make use of incentives for their distribution network as a major promotional tool. Currently, a lot of their promotion is also done on their social media.
Asian Paints Marketing Strategy
Asian Paints’ marketing strategy is offering different products of varying price points, according to the income groups of the consumers they are marketed towards. They segment based on demographic and geographic factors such as location, income levels, etc. and then, target each segment with specific products suited to their needs and position themselves accordingly in terms of price.
They effectively use both, traditional media and digital media in their marketing. They advertise on television and in papers to grap attention from conventional media users. And they also market on social media through challenges, trends, competitions, using influencers, etc.
Competitive Analysis
Asian Paints is the market leader, with currently over almost 30% market share. Its biggest competitors are- Berger Paints, Kansai Nerolac, Indigo Paints, Akzo Nobel, Sirca Paints and Shalimar Paints. Asian Paints’ competitive advantage is its distribution strength.
The company’s stand-out feature is its range of exclusive signature stores providing consumers with expert assistance from trained professionals offering customized furnishing and decoration solutions.
Conclusion
Asian Paints is positively finding real success in the market with well-suited item division and situating. Its marketing strategies work well, meeting the needs of customers and maintaining its reputation as one of the best in the business. The organization’s advertising efforts nail it with watchers and keep them inspired by what they bring to the table. Their Instagram presence is quite robust and keeps up with developments in digital media. With everything taken into account, Asian Paints has advanced and kept up with its image quality and picture well overall. However, by distinguishing themselves from competitors and expanding their services division, they stand to gain from rising demand.