ASIAN PAINTS MARKETING MIX CONTENT HISTORY BOARD OF DIRECTORS AND VISION FOUR Ps OF ASIAN PAINTS CURRENT MARKET SITUATION STRENGTH , WEAKNESS MARKET SHARE OBJECTIVES TARGET MARKET MARKET STRATEGY MARKET PROGRAMS
HISTORY In 1942 a partnership was started by four entrepreneurs. It was named as THE ASIAN PAINTS and OIL COMPANY In 1957 Ap touches a turnover of RS350000. In 1957 a plant was setup in Bhandaup ,Mumbai. In 1973 it became a public ltd company. In 1985 The Company entered into a collaboration agreement with Nippon Paints Co. Ltd. In 2002 AP was the market leader of Indian Decorative Paints with market share of 44%. Turnover INR o.35 million (1945) to 66.80 million (2010).
MR. ASHWIN CHOKSI MR. ASHWIN DANI MR. ABHAY VAKIL
MR. K B S ANAND MR. DIPANKER BASU DR. S. SIVARAM
MR. MAHENDRA CHOKSI MR. MAHENDRA SHAH MR. S. RAMADORAI
MR. AMAR VAKIL MR. DEEPAK SATWALEKAR MR. M. SHARMA
MRS. INA DANI MR. RAJENDRA SHAH MR. TARJANI VAKIL
TYPES OF PAINTS The pricing strategy followed is value based pricing and optional pricing. The paint costs are furnished in the website based on certain assumptions listed in the page. There is a disclaimer that there might be 20% deviation in the suggested price and the quantity. The company has 4 manufacturing units, 6 distributional partners, 15000+ dealers, 90,000+ sub dealers, 3000 Asian paint stores and 4500 color world stores. Singapore Jamaica
Bhandup Kasna
ADVERTISING Electronic ads Print ads
PUBLIC RELATION Market public relation Corporate public relation
SALES PROMOTION Dealers meeting (quarterly) , Painters meeting (annually) , Incentives to painters (Token exchange , cash in the bucket). Privilege club members , Distributing merchandise to painters such As T-shirts, caps etc. EXTERNAL COMMUNICATIONS Home solutions Colour world Online consultancy Helpline Estimate calculator Paint selector
The very core of all business activities. From the beginning, Asian Paints has fostered a customer-centric approach to business. Asian Paints has launched a supplier portal that includes an automated digital document exchange facility that will improve the efficiency and effectiveness of interaction with suppliers. Asian Paints has launched a supplier portal that includes an automated digital document exchange facility that will improve the efficiency and effectiveness of interaction with suppliers.
STRENGTH Market leaders in a decorative paints with a majority market share. Pricing strategy is oriented to middle and lower customers. Widest product range in term of product , shades and pack size (around 8500 colours). Brand name with 68 years of experience. Comprehensive nationwide coverage of the market.
WEAKNESS Seasonal demand hence in off season it can lead to cash flow problems. Innovation in developing new product is inadequate. Weakness on the technology front in industrial paints. In industrial paints it has low market share. MARKET SHARE The Indian paint industry comprises of the organized and unorganized sector .the organised sector consist of 54% of total volume in terms of sales and 65% in terms of revenue . The market leaders in the organized paints in India are Asian paints with over 40% of market share , Kansai Nerolac (20%), Berger paints(19%), Akzonobel (12%). In decorative paints segment the market share of Asian paints is an astounding 47%. The company expect to tap in the future growth in this sector mainly due to boom in real estate sector. OBJECTIVES CORPORATE VISION: Asian Paints aims to become one of the top five Decorative coatings companies world-wide by leveraging its expertise in the higher growth emerging markets. Simultaneously, the company intends to build long term value in the Industrial coatings business through alliances with established global partners. The overall objective is to increase the sales in the urban market and have a deeper access to the rural market with low price products targeting customers of all income levels. Also it aims to retain the top position in the Indian paint market. TARGET MARKET Asian Paints follows an important marketing strategy in the domain of Customer segmentation. Asian paints has segmented its products mainly in three sectors: Decorative Industrial Automotive Their customers are all also segmented as rural and urban customers. Further, based on the usage of these products, the urban customers can be classified as follows: Customer who are value or brand sensitive. Customer who are innovative in nature. Customer who r price sensitive.
MARKETING STRATEGY Entering into service market : In addition to product, they should move towards the service industry catering to the rural segment. Service industry in paint domain has huge potential and is yet to be captured. It can prove to be an excellent opportunity considering the brand name and image of Asian Paints.
Increasing market share in Industrial and automotive sector : the company should take greater steps in the industrial and automotive paints sector as well.
Focusing on constant innovation : For an organization like Asian paints to create a strong future, it has to breed innovation continuously. This strategy of innovative will in fact help any organization to fulfil its commitment and integrity in dealing with internal and external customers. Tapping the rural market : The penetration of the rural segment has to be achieved by offering a basic product well-tailored to match the low willingness to pay. Repositioning of existing brands in rural markets is also what is required. MARKETING PROGRAMS PRODUCT: Asian paints should introduce more products catering to the industrial and automobile sectors given its technological capabilities . PRICES : Asian Paints should try to price the products in lieu of the different segments of society. Also, by means of lower prices, it can give tough competition to its competitors. PROMOTION : It should continue with the present promotional mix ranging from Colour world, Television advertisement, online marketing. SERVICES : Also it can come up with a new service arm that pertains to the services in the paints industry.