We are well-familiar with the popularity of Asian Paints in India. The company was established in 1942 as a paint manufacturing firm. Asian Paints has been the leading paint company for over 70 years, since its establishment.
Asian Paints is tremendous with its paint quality and apart from that, the company is quite famous and impressive with its colorful advertisements. With this, Asian Paints functions on the incredible marketing strategies that cover up its all grounds of services including place, promotions, price, and product. The marketing strategies of Asian Paints are very impressive as it has kept the company on top, always.
Asian Paints is headquartered in Mumbai, India, and is known as the third-largest paint company across Asia. Its services operate in more than 19 countries under various subsidiaries. Asian Paints has its subsidiaries established in numerous countries, which are titled APCO, PPG Asian Paints, Sleek Kitchens, Kadisco, Berger, Taubmans, Scib Paints, and many more.
The company has optimized its marketing strategies in a very competitive way and presented the company with a very strong market position. Asian Paints manufactures its paints in a very distinct manner of categories in various forms such as decoration, industrial segments, and automotive. In this article, we'll be discussing the marketing strategies of Asian Paints. Let's get started!
Product Marketing Strategy of Asian Paints
Asian Paints majorly focuses on manufacturing products that are decorative and of great quality. Its key product is industrial paint. Alongside, the company produces paint solutions and services for homes.
Asian Paints manufactures products for not only one category of audience, in fact, but the company sells its products to various segments of customers through targeting strategies. We have described some of its specialized products and their target audience right below:
- Apcolite, tractor distemper, and tractor emulsion target the customers from the economy segment.
- Asian Paints Royale targets its customers from the premium segment.
Moreover, the company also offers undercoats, coatings, putties, and primers along with its other services. Therefore, Asian Paints provides a complete package of painting solutions along with appliances and tools.
Place Strategy of Asian Paints
Asian Paints is quite famous on the global level also. The company operates in many countries across the globe. Asian Paints optimizes its place strategy through 5 regions network including the Caribbean region, the South Pacific region, the Middle East region, South East Asia, and South Asia. Asian Paints holds a wide distribution network with a strong market position.
Asian Paints provides an open-door and flexible policy for dealers for getting into the retail market and work on marketing and distribution nationally. The company is India's largest paint company whose manufacturing factories are established in many countries.
Promotion Strategy of Asian Paints
Asian Paints has optimized its features and services entirely for market promotion. The company uses great innovative techniques and taglines to promote its products to a specific segment of customers. It uses taglines to catch the eyes and ears of its target audience and they would reach out immediately.
Through this strategy, Asian Paints receives great customer support and sales. Along with this, the company advertises its products through various channels to reach out to customers.
Since its establishment, the company's advertising part has become more substantial and majorly focused on brand awareness. Asian Paints has signed with various prominent celebrities in India such as Deepika Padukone, Ranbir Kapoor, and Rahul Dravid as its brand ambassador.
Asian Paints organizes various campaigns and social media contests to promote its products and attract more audiences.
The company's website provides the customers with the features of uploading their pictures with their walls painted by Asian Paints products.
Price Strategy of Asian Paints
Asian Paints promises quality and standard products that's why it keeps its pricing higher than its competitors.
However, its products are manufactured for different segments of the audience so that there wouldn't be an issue of price. Such as its premium products which are specialized for high-income people and medium and economic segment of customers, the company offers different products at the best pricing.
Besides, its price segments also vary based on the raw material used in the product and its features. Asian Paints offers paint's discount offers for its customers at high pricing. The company's painting consultancy services are pretty much higher than the painting service providers.
Asian Paints marketing strategy isn't based only on its products, price, or promotion. The company optimizes its marketing strategy through segmentation, positioning, competition z targeting, and analysis.
Asian Paints is the leading paint company across India and is known as the third-largest across Asia. The company made an annual revenue of around INR US$2.9 billion in 2020. Its paint products are categorized into various segments such as innovative, automotive, decorative, and industrial.
Alongside, Asian Paints provides painting equipment also including wood primers, strainers, wall primers, and putty. Asian Paints holds a very strong position in the market and with its current marketing strategies, the company is set to achieve more heights of success.
Who is the founder of Asian Paints?
Champaklal Choksey, Chimanlal Choksi, Suryakant Dani, and Arvind Vakil founded Asian Paints in 1942.
Is Asian Paints and Indian company?
Yes, Asian Paints is an Indian company founded in 1942 by Champaklal Choksey, Chimanlal Choksi, Suryakant Dani, and Arvind Vakil.
What is the revenue of Asian Paints?
The revenue of Asian Paints is US$2.9 billion as of 2020.