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March 30, 2024

Marketing Mix of Asian Paints and 4Ps (Updated 2023)

The Marketing mix of Asian Paints analyses the 4Ps of Asian Paints, including the Product, Price, Place, and Promotions. Asian Paints is an Indian public Ltd company headquartered in Mumbai, India. The company manufactures paints that are used for decorative purposes and industrial usage.

This chemical company is India’s largest paints manufacturer and the third largest in Asia. Besides India, Asian Paints also serves as paint and focuses on a global market with the help of its subsidiary companies like Berger International Ltd and SCIB Paints.

The company was founded in 1942, and its MD is K.B.S Anand. Asian Paints faces stiff competition in the market from its competitors. They are as follows.

  • Kansai Nerolac
  • Berger Paints
  • Jenson and Nicholson
  • Shalimar Paints

About Asian Paints

  • Type: Multinational paint company
  • Industry: Paints and coatings
  • Founded: 1942, India
  • Founders: Champaklal Choksey, Chimanlal Choksi, Suryakant Dani and Arvind Vakil
  • Headquarters: Mumbai, Maharashtra, India
  • Area served: India and other parts of the world
  • Current CEO: Abhay Ambani
  • Number of employees: Over 17,500
  • Major Products: Decorative paints, industrial coatings, and allied products

Asian Paints Product Strategy

Asian Paints manufactures and markets decorative and industrial coatings and provides solutions and services for home and interior wall paintings. All the products of Asian Paints are of the acrylic type with properties such as washability, long-lasting, leakproof, and sunlight protection.

Asian Paints, one of the leading paint companies in Asia, offers a diverse range of products catering to various consumer needs.

The new Product Mix of Asian Paints in 2023 is as follows (Source).

  1. Decorative Paints: This category includes interior and exterior wall paints, available in various colors and finishes like matte, glossy, and satin. They offer products for different durability needs and aesthetic preferences.
  2. Wall Coverings and Stickers: Asian Paints provides a variety of wall coverings, wallpapers, and decorative stickers, offering customers an alternative to traditional painting.
  3. Wood Finishes: The company offers a range of products for wood care, including stains, finishes, and sealers, to protect and enhance the natural beauty of wood surfaces.
  4. Metal Finishes: This includes paints and finishes designed specifically for metal surfaces, protecting against rust and corrosion while offering aesthetic appeal.
  5. Waterproofing Solutions: Asian Paints supplies various waterproofing products to protect homes from water damage. These include solutions for roofs, walls, and other critical areas prone to water exposure.
  6. Adhesives and Sealants: The brand also offers a variety of adhesives and sealants for different construction and repair needs.
  7. Primers and Undercoats: These products prepare surfaces before painting, ensuring better paint adhesion and longevity.
  8. Professional and Industrial Paints: Asian Paints caters to the industrial segment with high-performance coatings, industrial paints, and solutions for professional use in large-scale projects.
  9. Ancillary Products: This includes various painting tools and cleaning agents to aid the painting process and maintain the painted surfaces.
  10. Color and Décor Consultation Services: Asian Paints also offers expert color consultation and home décor services to assist customers in choosing the right products and color schemes for their spaces.

Asian Paints’ product mix is designed to cater to various customer needs, from basic home painting to specialized industrial solutions. It is a comprehensive provider in the paints and coatings market.

Asian Paints Place Strategy

Asian Paints has spread its operations globally in at least seventeen countries. In every country, it has set up manufacturing facilities; in eleven out of seventeen, it has become the number one paint manufacturer.

The operations of Asian Paints are held through a network of five regions worldwide via the Caribbean, Middle East, South Pacific, South East, and South Asia. A massive research and development center has been opened in India.

The company has a dedicated and well-organized workforce, which enables it to harness all the available information and technology solutions to increase the efficiency of its operations. Asian Paints Asian paint marketing has sidestepped the segment of bulk buyers and has gone directly to the individual customer.

At first, it concentrated on the semi-urban and rural areas and later on the urban areas. After entering the retail market, it initiated an open-door policy for the dealers and started nationwide marketing and a distribution strategy. It has six manufacturing locations, 70 sales branches, 15,000 dealers, and numerous warehouses. This intricate network, along with sales managers, executives, and the sales team, handles all manufacturing and distribution steps.

Here’s the place strategy of Asian Paints.

  1. Extensive Dealer Network: Asian Paints has established a vast dealer network across various regions, ensuring its products are readily available in numerous retail paint stores. This widespread distribution network makes it convenient for customers to access their products regardless of location.
  2. Company-Owned Stores and Experience Centers: Asian Paints operates company-owned stores and experience centers in key urban locations. These centers sell products and provide customers with an immersive experience, offering expert consultations and showcasing different paint applications and techniques.
  3. Online Presence and E-commerce Platforms: Understanding the importance of digital accessibility, Asian Paints offers its products online on its own website and through various e-commerce platforms. This online presence caters to the convenience of digital-savvy customers and expands their market reach.
  4. Partnerships with Home Improvement and Hardware Stores: Asian Paints collaborates with home improvement stores and hardware chains to place their products in locations where consumers are likely to seek painting and renovation materials, enhancing visibility and accessibility.
  5. Strategic Placement in Industrial and Professional Markets: For its industrial and professional range, Asian Paints strategically places its products in specialized industrial supply stores and through direct sales to large clients. This targeted approach effectively allows them to reach professional and industrial customers with specific needs.

Asian Paints Pricing Strategy

To implement a balanced pricing policy for Asian paint products, Asian Paints has been closely monitoring the markets. The pricing decisions lean heavily on raw materials, petro-products, taxes, excise duty, and other factors. Even the increase or decrease in the competitor’s prices affects a brand heavily. That is why constant watch and periodic evaluation of its pricing strategy has become necessary for a high-profile company like Asian Paints.

Asian Paints has kept a very flexible pricing policy. It has created various sub-brands for the various sections of the society. The price range is kept according to the properties of every brand. All the products are of excellent quality with some add-on features. The marketing strategy of the Asian part has maintained a value-based pricing policy, with prices going up and down as per the market situation.

Asian Paints employs a dynamic pricing strategy that balances market competitiveness with brand value. The critical facets of their pricing approach:

  1. Value-Based Pricing: Asian Paints sets prices based on the perceived value of its products. High-quality finishes, durability, and brand reputation justify a premium price point for specific product lines, appealing to customers who seek top-tier quality and are willing to pay for it.
  2. Competitive Pricing: In highly competitive segments, particularly for basic and essential paint products, Asian Paints adopts a competitive pricing strategy. This ensures their offerings are more attractive than competitors, catering to cost-conscious consumers.
  3. Product Line Pricing: The company employs a product line pricing strategy, with a wide range of products priced at different levels. From economical options for budget-conscious customers to premium products for those seeking luxury finishes, this approach allows them to cater to a broad spectrum of customers.
  4. Dynamic Pricing for Raw Material Fluctuations: Given the dependence on raw materials whose prices may fluctuate (like titanium dioxide), Asian Paints adjusts its prices in response to these changes. This dynamic pricing helps in maintaining profitability while dealing with cost variations.
  5. Psychological Pricing: Implementing psychological pricing tactics, such as pricing products just below a round number (e.g., ?499 instead of ?500), is a common strategy to make prices appear more attractive and improve sales.
  6. Promotional and Seasonal Discounts: Asian Paints often introduces promotional pricing during festive seasons or through discounts and offers. This strategy boosts sales during peak periods and encourages the trial and adoption of new products.
  7. Segmented Pricing for Services: For their value-added services like color consultation and home décor, Asian Paints might use segmented pricing, offering these premium services at different prices to cater to diverse customer needs and willingness to pay.
  8. Geographical Pricing Variations: Considering the vast market that Asian Paints caters to, they may also adopt geographical pricing strategies, where prices vary based on regional economic factors, competition, and distribution costs.

Through this multifaceted pricing and marketing strategy, however, Asian Paints effectively addresses the diverse needs of its customers, ensuring market relevance and appeal across different segments while maintaining its stance as a paint and coatings industry leader.

Asian Paints Promotion Strategy

Marketing mix of Asian Paints - 1

The mascot for Asian Paints is Gattu, and the cartoonist R.K Laxman created it in 1954. Gattu, who had an endearing appearance with his hair locks dangling over his right eye, became a trendy figure. After reigning Asian paint marketing strategy for over four decades, it was phased out in a rebranding initiative in 2002.

Even the logo was changed to display an upmarket and contemporary look that denoted technology and sophistication. All the promotional activities of Asian Paints are based on the fact that the company is all about the family and its members, along with their homes, which are reflections of each other.

The slogan “Har Ghar Kuch Kehta Hai” is a prime example of the brand trying to connect with people’s emotions. The famous actor pair of brother and sister Saif Ali Khan and Soha Ali Khan have endorsed its brand Royale. Actor Akshay Khanna has also been a part of the promotional activities. Currently, Deepika Padukone has taken over the brand endorsement. The promotions also include incentives to the painters, distribution of t-shirts and caps, and added privileges to its members.

Finally, the best brand elements for the brand are its wide distribution network, the quality of its products, and its repeated marketing communications, reminding the end customer that Asian Paints is the best paint brand out there.

Some Recent Video ads and Print ads for Asian Paints are:

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