Do you ever get to think about how large the Indian paint industry is? It is expected to grow to nearly USD 9.56 billion by 2024. And guess what? It is also expected to increase more with the given CAGR of 9.38% and capable of reaching the market value of USD15 billion by 2029. This increase is largely attributed to a growing population living in urban areas and a growing middle income population seeking quality and modern houses or buildings, also, with a focus on green buildings. Pretty impressive, right?
Now here comes a behemoth “Asian Paints” who started their operations in 1942 as a small company in an even smaller garage in Mumbai, India. Started by four friends, the company was founded in the backdrop of a temporary ban on paint imports during World War II and the Quit India Movement of 1942. The ban created a gap in demand and supply, which the founders took advantage of. Asian Paints has grown from a small paint company in Mumbai to a global leader in the paints and coatings industry and slowly becoming the market leader in paints in India since 1967.
Asian Paints alone has a projected market share of over 53% in 2024 – which means that it is not simply a player in this industry’s growth – it is a driving force and a market leader behind the growth. From a small paint manufacturer, the company has now grown to become a global business and operates in more than 15 countries. The company’s vision to offer innovative products to customers, customer satisfaction and environmental management policies imply that Asian Paints is relevant not only as a home decor brand but also as a lifestyle interpreter that values sustainability.
In the subsequent sections, we will explore the specific marketing moves that have really established Asian Paints as a leading player in the market. Let’s learn how the implementations of 4Ps – Product, Price, Place and Promotion are not only improving their market offers but are also building a better consumer engagement worldwide.
4Ps Strategy of Asian Paints
Product Strategy
Asian paints have a wide range of goods and services within the decorative / architectural segment, industrial / automotive segment, protective coatings, and related service segments such as waterproofing and color solutions for buildings. It adapts the budget-plan through a hierarchy of product range where low-price products are switching to the Tractor Emulsion, mid-price products are changing to Apcolite and high-price products of Royale Aspira. This segmentation enables many of them to address a vast market from the low end everyday consumption to the high end luxury and industrial use. Other products developed, such as anti-bacterial and air-purifying paints, also stress them on contemporary concepts of functionality and health.
A brilliant, well done ad campaign of their product development is the ‘Asian Paints Apcolite Advanced Emulsion’ advert, because it doesn’t just sell paint in the color of the customers’ preference, but paint as a smart utility in the home. The ads themselves are a pure conquering of spaces and the use of visually punchy narratives to sell the product’s superior washability and anti-fungal properties. The campaign aimed to resonate with families whose preferences were to create beautiful, simple living spaces, as well as requiring effective solutions for maintaining cleanliness and preventing the spread of germs.
Pricing Strategy
Asian Paints adapts its pricing strategy based on market conditions while keeping a competitive edge. They use tactics like penetration pricing to attract price-sensitive customers, skimming for their premium products, and adjusting prices based on the economic conditions of different regions.They also offer promotional discounts to target large clients like real estate developers, ensuring they cater to every customer segment effectively. This approach allows them to maintain strong relationships across various customer levels.
For instance, their sales promotion campaign, #CelebrateWithAsianPaints, offers consumers special deals during the festive season—when they’re more inclined to renovate and spend. This is a perfect example of using penetration and promotional pricing to boost volume sales during a high-demand period. It effectively taps into the festive spirit while driving increased purchases.
Place (Distribution) Strategy
The firm has a strong distribution network which currently encompasses over seventy thousand dealers in India and a market reach that provides a five-kilometer coverage of the majority of consumers. It is also available for sale through its own stores, internet sales and itself selling paints directly to projects making it one of the most accessible paints in the market. This array is backed up with a comprehensive supply chain system being aided by technology to identify customer demand and order products accordingly.
The campaign – ‘Har Ghar Kuch Kehta Hai’ – builds exactly on this network strength where the brand puts out advertisements endorsing the local cultural trivia, thus implying that it is available and made locally for everyone across India. Not only does the strategy strengthen brand awareness but it also enhances market coverage.
Promotional Strategy
Marketing communications of Asian Paints primarily involve a combination of the company’s promotional tools, which include both the conventional and the current modern communication tools. The brand incorporates memorable taglines, celebrity endorsement and interesting appeals to the consumers. Instagram and Facebook are particularly used for the interactive global campaigns, do-it- yourself pieces of content, and social customer engagements. SEO and collaboration with influencers are also used as digital marketing practices to improve web visibility and customer interactions within the context of the firm.
One of the best-remembered was ‘#DonateAWall’ where the company encouraged the customers to choose a community area for redecoration. In relation to strengthening consumer loyalty, this campaign relied on social media integration to improve the level of participation and also to book their interest in community welfare.
Asian Paint Social Media Marketing Strategies
Asian Paints has harnessed the power of visual storytelling to engage with its audience. With over 337K followers, the brand shares creative content that not only showcases their products but also offers home decor inspiration.
This includes collaborations with celebrities like Virat Kohli and influencers like Zahir Khan to maximize engagement. They also utilize giveaways to increase interaction, encourage user-generated content, and maintain a vibrant community feel during festive seasons.
Facebook serves as a crucial marketing platform for Asian Paints, boasting a follower count of 2 Million. The brand focuses on sharing design inspiration, home decor tips, and DIY ideas- hence positioning themselves as a thought leader in the space.
They engage with their audience by keeping up with trending topics and hashtags, which enhances visibility and relevance. Despite some challenges with engagement levels, the overall strategy aims to provide value and maintain a strong connection with their followers.
On Twitter, Asian Paints maintains an active presence with 120K followers, using the platform to engage in two-way interactions with their audience. They employ unique hashtags related to their campaigns to generate buzz and encourage user participation. This strategy not only helps in broadening their reach but also fosters a sense of community among users.
SEO Strategies for Asian Paints
- The Domain Authority Score of Asian Paints is at 64, indicating strong online visibility and a solid ability to rank competitively in search engine results compared to other websites within its industry.This highlights the significance of the score in terms of SEO and search rankings.
- They have an impressive 4.6 million in organic search traffic, reflecting the number of visitors reaching their site each month through search engines alone. This clearly shows their strong focus on SEO strategy.
- Here is a twist – they do not get paid search traffic anymore; it has reduced to 1.3K visits, a stingy 41% of what it used to be. It seems they are reducing their ad placements, or perhaps should reconsider their strategy, as the traffic they are attracting is not as high as expected
- Asian Paints is pretty popular with a total of 448.6K backlinks. This means other large websites are linking back to them, which is great in establishing the reputation of their own site, as well as adding to the SEO value.
- Asian Paints rank for about 248,000 different keywords which is a massive keyword base. This indicates they are targeting a wide range of search queries related to their business, ensuring they capture diverse search traffic with these strategic shifts.
- Their rank stands at 595. This means that they are very effective in their efforts to keep active and noticeable among other thousands sites. Their rank stands at 595, indicating that they are highly effective in maintaining an active and noticeable presence among thousands of other sites.
So, what’s the takeaway? Among all industries in India, Asian Paints has excelled in natural search engine optimization, attracting a significant amount of traffic through search engines without paying for each click.Although their paid search efforts could use some improvement, their backlinks and keyword rankings are strong. They should continue to monitor these metrics and consider paying more attention to their paid advertising programs.
At Asian Paints, Google Ads are purposefully used to trigger specific keyword searches such as ‘indoor paint’ and ‘outdoor paint’. This means that their ads can be introduced to people and potential consumers who are even looking for such products, hence enhancing the chances of the targeted people to check out on the offered products. Using these specific keywords, Asian Paints is able to target relevant traffic to their site – both adding to brand awareness and potential sales.
In their ads, the brand uses interesting content that calls for attention to aspects like durability and beauty of the products. These ads are placed on the right places where target buyers would likely surf the web, home improvement websites for example or DIY forums. For instance, Display and Video advertising reach users on the Google Display Network who did not necessarily actually search ‘paint’ but words like ‘home décor’ and ‘remodeling’.
Marketing Campaigns by Asian Paints
Har Ghar Kuch Kehta Hai
The ‘Har Ghar Kuch Kehta Hai’ campaign by Asian Paints, created by Ogilvy, is based on the idea that every home has a story to tell. This narrative resonates with the passion and vision that shape individual and collective experiences within a residence. The campaign’s main strength lies in its universal relatability—every audience member has their own home and unique stories to share.
Kaam hamara, Credit aapka
The hilarious tagline can be put as ‘Our work, your credit’ where Asian Paints made sure to put the customer first. It promotes a service attitude where the company takes all the work but the design choices as well as satisfaction go to the homeowners. This approach places Asian Paints brand in a better place that will help them champion their customers’ desire to beautify their homes and express themselves through interior décor.
Shauq Ki No limit
Basically the tagline of these serials are “Shauq Ki No Limit” or “No Limit To Passions” which implies boundlessness of one’s choices when it comes to designing one’s shelter. As for this campaign, it is dedicated to the assertion and versatility of people’s personality and their ways to share it by choosing the decorations and colors of homes. It calls for the consumers to open the possibility of indefinite creativity with all the products and services offered by Asian Paints.
Asian Paints’ approach to an ever-evolving commitment to innovation and market analysis has helped to create new trends and products for 2024. This visionary approach has extended not only to their marketing goals but has also defined their missions in developing masterpiece or derivative products as elaborated below.
What’s New with Asian Paints in 2024?
Asian Paints has come up with new trends and innovations recently and most especially through the ColourNext 2024. This year they have presented ‘Terra’ as the Colour of the Year, which is stated as being warm, protective, enveloping, and allied with a sense of seclusion.
The reason for this choice is typical of the worldwide trend towards the search for stability and comfort in an increasingly unpredictable world. Terra is one design in a group that synthesizes the coziness of nature with the schemes of houses of the future.
The ColourNext 2024 initiative also presents four innovative design directions:
Soil: As objects of desire, this theme deals with the basics of a typical earth and points it where aesthetic desire meets design thinking and technology.
Into the Deep: This direction explores the great wonders of the ocean, from exploring the transportation system’s outer depths, to the calm and active ocean to derive design philosophies from the ocean and its dynamics in the ecosystem.
Indo Futurism: This concept is a synthesis of Indian cultural design and futuristic look of the structure which makes it pre- post modernism.
Goblin Mode: This trend can be regarded as challenging the overused demand for effectiveness at work and joyfully encourages people to be themselves in their own homes.
Further, Asian Paints collaborated with a top Indian fashion designer Sabyasachi.
Sabyasachi Mukherjee has recently launched Sabyasachi X Nilaya which is actually the Cultured cross over collection inspired from Calcutta and Paris. At the moment this collection includes thirty one’s wallpapers and one hundred and twenty two fabrics with an outlook that can be described as traditional and classical at the same time.
These innovations by Asian Paints are not just bringing in a new color or a new pattern, they are based on serious research into the contemporary socio-cultural parameters, consumer tendencies and changes in life styles. This approach puts Asian Paints in place to remain relevant in design and decoration trends, and be constantly engaged in the improvement of interior-living environments.
Notable Points :
- The company operates exclusively in the Indian market where it continues to grow due to an estimated market of USD 15 billion by 2029.
- It is expected to have a market share of over 53% by 2024, which shows how influential the industry is .
- The company is international, and it is established in over 15 countries in the world, as it works to actualize its vision for creation of innovative products, customer satisfaction and environmental stewardship.
- The ColourNext 2024 paints the Colour of the Year as ‘Terra’ based on the global movement of steadiness and coziness.
- Sabyasachi Mukherjee, the partnership of which led to a brave new range entitled the Sabyasachi X Nilaya collection; Calcutta and Paris collide.
- Boasting presence on Instagram, Facebook, and Twitter, using a variety of techniques to discuss content with the audience using picture and video material, promotions, and feedback.
