Asian Paints Marketing Strategy & Marketing Mix (4Ps)
Published in Products category by MBA Skool Team
Marketing Strategy of Asian Paints analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Asian Paints marketing mix, help the brand succeed in the market. Let us start the Asian Paints Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Asian Paints marketing strategy can be explained as follows:
Asian Paints’ products include brands like Asian Paints Royale targeted at premium segment, apcolite, tractor emulsion, tractor distemper targeted at economy segment. Asian Paints’ Undercoats include Decoprime Advanced Cement Primer, TruCare Interior Wall Primer, TruCare Interior Wall Primer and Royale Wall Base coat. Other products include trucare 2x primer putty mix, trucare super putty and acrylic wall putty. Asian Paints also provides protective coatings like epoxy coatings, heat resistant paints, powder coatings for industries manufacturing refrigerators.
The products in the marketing mix of Asian Paints provides complete painting solutions ranging from paint products to accessories and tools for painting. Its premium product Royale Play is known to provide special effects and textures for the perfect look.
Image: company website
Asian Paints Price/Pricing Strategy:
Below is the pricing strategy in Asian Paints marketing strategy:
Asian Paints products are priced higher than its competitors due to the quality and standards maintained by the company. The Royal product range is priced premium targeted to high income groups.
For medium and economy segment, Asian Paints follows value based pricing strategy. The price also varies as per the exclusive features in the product type. The pricing decisions are also affected by the raw material used for making that paints hence increase or decrease in the price is also observed. During bulk purchase the company offers discount to its customers and it provides incentives and volume discount to its distributors for high. Hence the overall pricing strategy in the marketing mix of Asian Paints is based on product quality, competition and the solutions required by the customers. The painting consultancy services are higher as compared to other paint service providers. Asian Paints’ primary target consumers are construction company and contractors hence it provides volume discounts for exclusive purchase of Asian Paints products.
Following is the distribution strategy in the Asian Paints marketing mix:
Asian Paints is operational in 19 countries and have 25+ paint manufacturing facilities across the world. There are manufacturing and production facilities operational in every country in each of the 19 countries it has expanded its reach. It has also set up a Research and Technology division where over 200 qualified scientists are working on the paint development. Asian Paints international team is spread across in countries like Bangladesh, Barbados, Bahrain, Egypt, Emirates, Ethopia, Jamaica, Fiji, Sri Lanka, Nepal and Oman. Apart from its operations and manufacturing centers, the place in the marketing mix of Asian Paints focuses on distribution through retailers. The success of Asian paints is also attributed to its wide distribution reach across India. The Asian Paints Color Academy offers training facilities for both new and experienced painters. It has set up Signature Stores in Mumbai, Kolkata and New Delhi where consumers can get expert assistance on painting ideas, know what’s trending, and visualise dream home using latest visualisation technology. It has partnered with several distributors across India to sell Asian Paint products.
All this covers the marketing mix of Asian Paints in a summary.
Asian Paints Promotion & Advertising Strategy:
The promotional and advertising strategy in the Asian Paints marketing strategy is as follows:
Asian paints has always focused on marketing. In the early 1950’s the company used the tagline "Don't lose your temper, use Tractor Distemper" to promote their brand Tractor Distemper. To target the middle class segment, the company created a mascot “Gattu” which was created by famous cartoonist R.K. Lakshman. The mascot helped Asian Paints to increase its reach among middle class segment as it appeared in print and electronic media advertisements. With time, the promotional strategy in the marketing mix of Asian Paints became more extensive and focused on brand awareness. Asian Paints associated with the advertising agency Ogilvy & Mather which came up with the tagline “Har Ghar Kuch Kehta Hain” that instantly connects with people. In the year 2000, the company replaced the mascot “Gattu” with company logo. Asian Paints has roped in popular Bollywood actor Ranbir Kapoor, actress Deepika Padukone and Cricketer Rahul Dravid as their brand ambassadors. To promote their product Apex Ultima Protek it has used hashtags “#Barishkoaanedo” that wishes to convey that the walls painted using Apex Ultima Protek will sustain heavy rains. It carried out several contests on social media like #DonateAWall to attract customers. Its website is interactive and provides users to upload a picture of their walls and virtually observe different shades of paints on the wall.
About Asian Paints:
Asian Paints was founded in the year 1942 and currently is Asia’s fourth largest and India’s largest paint company. It has reported a turnover of 158.5 billion. The company is operational in 19 countries across the world. It serves customers in more than 65 countries. Asian Paints is involved in manufacturing and distribution of paints, home décor related products, wall coverings, waterproofing solutions, adhesives, painting tools and implements. The company’s vision is to become one of the top five decorative coating companies world-wide and build long term value in industrial coatings business. Its competitors include Berger Paints India Ltd., Kansai Nerolac Paints Ltd., Akzo Nobel India, Bombay Paints Ltd. Asian Paints also provides colour consultancy at home, online and home painting services.
The Asian Paints website is interactive and helps customers learn about various painting techniques and provides an interface that provides paint budget calculator and paint selector. Asian Paints’ colour catalogue include 1800 plus shades, textures and themes. Mr.
K.B.S. Anand is the CEO and MD of Asian Paints.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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