Asian Paints is a paint company from India, founded in 1942, that manufactures and sells paints, coatings, products related to home décor, and bath fittings. Located in Mumbai, the company offers waterproofing solutions, interior and exterior wall painting with multiple color selection tools and fulfills your painting requirements. Their marketing strategies have led to the company’s success and won the hearts of Americans throughout the country.
Asian Paints focuses on producing high-quality products not only for residential use but also for industries. They also advertise their products using celebrities and social media platforms like Facebook.
Let’s start this learning experience with a quick overview of the business model of Asian paints.
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Marketing Strategy of Asian Paints: Business Model
Asian Paints is the biggest paint company in India, the third biggest in Asia, and the ninth biggest in the world. It has set the standard for excellence in technical planning, strategic management, and cutting-edge innovation in its seven years. In the domain of paint, there seem to be two primary categories: decorative and industrial. There is much to learn from Asian Paints’ marketing strategy.
There is no denying that Asian Paints is the market leader in India regarding decorative paints for the home (including interior and exterior wall finishes, enamels, and wood finishes). In the Industry market, which includes Asian Paints’ core products, automotive coatings, OEM paints, powder coatings, and the like, the company ranks third.
The decorative market is less dependent on technology, allowing some disorganized competitors to take a small but significant share. However, this business sector depends on technology and is dominated by well-established corporations.
Asian Paint is a global multinational corporation that operates in 15 countries and manufactures its paints in 26 locations. To a large extent, this is due to its extensive supplier distribution network in India. So that it could maximize profits and efficiency, the company decided to work with dealers instead of distributors. The company currently employs over 70,000 retail workers.
It has also spent the last 40 years honing its dealers’ craft. Approximately 2.5 to 3 lakh deliveries are made daily by Asian Paints, and trucks visit dealers four times a day.
Product Marketing Strategy of Asian Paints
Asian Paints places a great emphasis on producing decorative, high-quality products. Its primary offering is painted for industrial use. In addition, they offer residential painting products and services.
Asian Paints doesn’t just produce goods for one type of customer but uses sophisticated marketing techniques to reach specific audiences. Below, we’ve outlined the kinds of customers who would benefit most from its specialized offerings:
Customers on a tight budget are the ones Apcolite, tractor distemper, and tractor emulsion are aiming for.
The premium market is Asian Paints Royale’s primary focus.
In addition to its other offerings, the company sells paints, primers, putties, and sealants. This is why Asian Paints offers comprehensive painting services, including the necessary equipment.
Positioning Marketing Strategy of Asian Paints
Asian Paints is a globally recognized brand. The company’s businesses are spread out all over the world. Asian Paints uses a network of five regions to achieve optimal performance in its location strategies: the Caribbean, the South Pacific, the Middle East, South East Asia, and South Asia. Since its inception, Asian Paints has amassed a massive customer base and dealer network.
Asian Paints encourages dealers to enter the retail market and aid in Asian Paints’ nationwide marketing and distribution efforts; the company maintains an open-door and flexible policy. They are the largest paint manufacturer in India and have factories worldwide.
Budgeting Marketing Strategy of Asian Paints
To appeal to a wide range of customers, Asian Paints provides several service packages at varying price points. Royale’s product line appeals to the high-status age group at a premium price, while the company’s other lines focus on providing excellent value to consumers on a budget.
Prices for unique options can range widely depending on factors like the cost of raw materials and market competition. The high rewards offered by Asian Paints to its distributors contribute significantly to the company’s success.
Event Marketing Marketing Strategy of Asian Paints
Asian Paints’ business model relies heavily on several highly effective promotions as part of its marketing strategy. A noteworthy among these efforts was the creation of Gattu, a cartoon character who has been entertaining viewers for over four decades.
The firm targets families as its primary population segment. It uses tempting offers and a heartfelt Asian paints’ campaign to attract new customers and cement the loyalty of its existing base. Many Bollywood actors and actresses have promoted it, and it has used Facebook and Twitter, among other social media platforms, to increase its visibility and build its brand.
Asian Paints’ Target Customer Base
Customers for Asian paints include homeowners, corporations, automakers, wholesalers, and retailers of all stripes. Asian Paints’ ideal customers represent middle- to upper-class females and men over 20 years.
Businesses, both public and private, as well as other entities, make up the bulk of the company’s corporate clientele.
See Also: A complete SWOT analysis of Asian Paints
Frequently Asked Questions
Who established Asian Paints in the first place?
In 1942, Champaklal Choksey, Suryakant Dani, Chimanlal Choksi, and Arvind Vakil founded the company that would become Asian Paints.
What or who caused Asian Paints to become so influential?
Asian Paints was established in 1942 by Indians Champaklal Choksey, Suryakqnt Dani, Chimanlal Choksi as well as Arvind Vakil.
How much money do Asian Paints make annually?
By 2020, Asian Paints will have generated $2.9 billion in revenue.
Asian Paint has made a name for itself in a particular segment of the Indian marketplace. Customers trust Asian paint brands to provide suitable goods and services, so they frequently visit these stores. Asian paints color for rooms rooms, Asian paints for home, Asian paints for kitchen, Asian paints for living room, and many such categories are all used for painting and decorating a house or a shop. The consumer value chain guarantees that the end consumer will receive high-quality products and the appropriate range of colors.
We trust that you now understand Asian Paints’ express painting and marketing strategies as a result of reading this post and have gained valuable insights from the case study.
In addition to paint, Asian Paints also sells painting tools like rollers, brushes, filters, and primers for walls and wood. Asian Paints already has a commanding presence in the market, and the company’s current advertising strategies will only propel it to even greater heights of success.