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Ability to retain the core values and purpose of the company with time makes a strong
brand. Manifestation of these might change from time to time depending on internal and
external factors. Asian Paints is a shining example of this truth. The brand Asian Paints
has stood for different things at various points of time without ever compromising on its
core values and core purpose.
Asian paints is the largest paints company in India and one among the top ten decorative
paint companies in the world. From its humble beginnings, the company has moved on to
become the largest paints company in India with a market share of 30 per cent.
Asian Paints is India's largest paint company and the third largest paint company in Asia
today, with a turnover of Rs. 30.2 billion. The company has an enviable reputation in the
corporate world for professionalism, fast track growth, and building shareholder equity.
Asian Paints operates in 21 countries and has 29 paint manufacturing facilities in the
world servicing consumers in over 65 countries.
Asian Paints Colour World is the brand name for the one-stop colour shop of Asian
Paints, which are unique paint shops where shades are generated with the help of a
computer with software to choose and select 1,511 shade combinations, designed to reach
consumers in a direct `dil se' style.
Asian Paints has the largest range of colours in the market (e.g. Over 127 shades of green,
206 shades of blue, 118 shades of yellow and many others) and the outlet allows the
consumer to choose any among a vast range of colours with the help of a computer.
One of the country's leading business magazines "Business Today" in Feb 2001 ranked
Asian Paints as the Ninth Best Employer in India. A survey carried out by 'Economic
Times' in January 2000, ranked Asian Paints as the Fourth most admired company across
industries in India
The company has come a long way since its small beginnings in 1942. Four friends who
were willing to take on the worlds biggest, most famous paint companies operating in
India at that time set it up as a partnership firm. Over the course of 25 years Asian Paints
became a corporate force and India's leading paints company. Driven by its strong
consumer-focus and innovative spirit, the company has been the market leader in paints
since 1968. Today it is double the size of any other paint company in India. Asian Paints
manufactures a wide range of paints for Decorative and Industrial use.
Vertical integration has seen it diversify into products such as Phthalic Anhydride and
Pentaerythritol, which are used in the paint manufacturing process. Asian Paints along
with PPG Inc, USA, one of the largest automotive coatings manufacturers in the world
has begun a 50:50 joint venture, Asian PPG Industries to service the increasing
requirements of the Indian automotive coatings market. Another wholly owned
subsidiary, Asian Paints Industrial Coatings Limited has been set up to cater to the
powder coatings market which is one of the fastest growing segments in the industrial
coatings market. This wholly owned subsidiary of Asian Paints has entered into a tie-up
with Canada-based Protech Chemicals which is one of the top ten powder coatings
companies in the world for technological know-how in the area of powder coatings.
Board directors
Mr. Ashwin C. Choksi, Chairman
Mr. Ashwin S. Dani, Vice-Chairman and MD
Mr. Abhay A. Vakil, Managing Director
Members
Mr. Mahendra C. Choksi
Mr. Amar A. Vakil
Ms. Tarjani Vakil
Mr. Deepak M. Satwalekar
Mr. Dipankar Basu
History
The history of Asian Paints dates back to 1942. It was started by four entrepreneurs,
Champaklal Choksey, Chimanlal Choksi, Suryakant Dani and Arvind Vakil, as a
partnership firm for manufacturing paints, in a garage rented for Rs. 75 a month. In 1945,
the partnership firm was turned into a private limited company named Asian Oil & Paint
Co. Pvt. Ltd. And in the same year, its turnover touched Rs 0.35 million.
In the 1940s, it was largely multinational companies such as British Paints and Jenson &
Nicholson that dominated the Indian paints market. In order to increase revenue, Asian
Paints concentrated on the smaller towns ignored by multinationals. In 1954, Asian Paints
asked the famous cartoonist R.K. Laxman to create a mascot for the company, and from
his pen was born Gattu which emerged as one of Indias most memorable mascots.
However, APs market research found out that in rural India, farmers who wished to paint
the horns of their bullocks preferred to buy paint in small packs. Soon AP came out with
50-ml packs, which became very popular.
Vision
"Asian Paints aims to become one of the top five Decorative coatings companies worldwide 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."
Mission
Asian Paints aims to become the largest decorative paint company in the world and to
rank among the top 5 paint manufacturing companies of the world.
Core Values
Commitment and Integrity in dealing with internal and external customers
A strong belief in individual ability and creating an environment in which
entrepreneurial spirit is encouraged
Ownership and Responsibility
Core Purpose
To continuously rejuvenate every living and working space of people and bring joy to
their lives.
Core thought
Asian paints is about people who invest emotional energy in creating their homes
Asian Paints is about homes which reflect the taste and love of their owners/residents
Brand Leadership
The Brand Leadership model is based on various actions taken over a period of time.
a) 1942-1967: Evolution Phase
b) 1967-1982: Extension and Consolidation Phase
c) 1982-1986: The years of Excellence
d) 1987-1997: Moving Closer to the Consumer
e) 1997-1999: Changing rules of the game
f) 1999- 2007: The new Asian Paints
The Evolution phase
Product innovations
Reaching rural
Seeding relationships
Quality Products
Launch of new technology in terms of tinting which gave a huge fillip to shade
selling
Product innovation
It was the largest manufacturer of paints in Asia and the sixth largest in the world.
However, this was not perceived by the consumer.
Asian Paints also seen to be a company that made paints such as distemper, ordinary
enamel and emulsion paints, for the masses.
Objectives
(i) Establishing Asian Paints as the leader in the paint category
(ii) Presenting it as a manufacturer of premium paints
(iii) Establishing high salience for Asian Paints in what was inherently a low interest
category
1997-99 Changing rules of the game
This helped in bringing more focus to the corporate brand and aided the process of
innovation in products and services
A series of initiatives launched bringing the brand more closer to the user
Moving Closer
Consumer research showed Paints are seen to rejuvenate and brighten up a gloomy
plenitude
It ventured to help people think of the joy that follows painting rather than the tedium
of the process.
It established Asian Paints as a paint for all surfaces, a paint that delivers lasting
beauty through its durability and good quality
It also created advertising that related to specific festive occasions in each part of the
country delivering regional empathy
Above , there was a warmth which people felt for Asian Paints
Two launches one in rural and the other in Exteriors gave a fillip to the overall
image of the brand
A lot of excitement was created by investing into communication for other brands
International Operations
Asian Paints operates in 22 countries across the world. It has manufacturing facilities in
each of these countries and is the largest paint company in ten overseas markets. Asian
Paints operates in five regions across the world viz. South Asia, South East Asia, South
Pacific, Middle East and Caribbean region through the five corporate brands viz. Asian
Paints, Berger International, SCIB Paints, Apco Coatings and Taubmans. In ten markets,
it operates through its subsidiary, Berger International Limited; in Egypt through SCIB
Paints; in five markets in the South Pacific it operates through Apco Coatings and in Fiji
and Samoa it also operates through Taubmans.
The countries that Asian Paints has presence are as follows:
South Asia
Caribbean Islands
Middle East
South Pacific
The time of publication of the advertisement (March 2000) also coincides with the
purchase occasions of the product. Demand for paints is seasonal in nature - low during
monsoon, high during festivals. The growth in the construction activity leads to first-time
demand for the new structures coming up. The re-painting, or replacement, demand arises
usually during festivals, when people paint their homes. The ads are published at the time
of various festivals for eg. Once AP published their advertisement just before the Holi,
which incidentally, is also a festival of colours.
Yes
Jingle:
This advertisement is one of the examples of brilliant execution, communicating the
brand message through kids without the use of any professional models/adults in the ad.
The colours speak for themselves, is a well chosen theme for one of the well executed ad
on TV. It shows children (a boy and a girl) doing all kinds of mischiefs cutting papers,
clothes, etc. and pasting on walls painted with different colours. Another good ad by
Asian Paints after the whopping success of the Sunil Babu campaign and still
reinforcing on the umbrella brand punchline Har ghar kuchh kehta hai. The entire
feelings and emotions connected to colours which actually correlates different moods
with corresponding colours. Overall, an excellent concept which reinforces the punchline
and clearly communicates the brand message using a emotional platform. Would not be
called Pester power though considering the fact that the kids are not the decision makers
in the category, the ad communicates a message to the parents through the kids.
Awards
Awarded the Sword of Honor by the British Safety Council for all the paint plants
in India. This award is considered as the pinnacle of achievement in safety across the
world.
Forbes Global magazine, USA ranked Asian Paints among the 200 'Best Small
Companies of the world' in 2002 and 2003 and among the top 200 'Under a Billion
Firms' of Asia in 2005.
Received the Ernst & Young Entrepreneur of the Year Manufacturing award in
2003.
Asia money - one of Asia's leading financial magazine ranked Asian Paints as the
Best Small Company in India for 2002 (Small company implies companies with
market capitalization of below USD 500 million).
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Conclusion
Asian Paints is the undisputed leader in the paints industry. There have not always been
good times for the industry, but the company has done well to retain its top position. It
has been ruling the decorative paints market for over 40 years and till date has been
successful in catering its consumers in this segment.
The main aim of Asian Paints is to stick to the core values of the company, ensuring
product quality and improving on the same. It constantly emphasizes on the innovation of
products and services in anticipation of MNC entry. Asian Paints has always been
introducing high technology products in line with the desired Brand Personality and
continuously investing in advertising so as to keep pace with times.
Asian Paints has attained excellence in the execution of various initiatives and there has
been a shift towards the ultimate consumer with a range of services. This brand has
always kept in mind that shifting the brand to a higher moral ground ensures connect with
the customer at the emotional level.
The company has also been strengthening its already extensive network with over 15,000
dealers spread over all its market. This is the fast growth segment where Asian Paints is
the market leader in this segment. Asian Paints has a presence in the form of Asian PPG,
a joint venture with PPG, a world leader in industrial paints.
The future for Asian Paints is certainly bright. In terms of earnings, the performance over
the third and fourth quarters of 2002 and later has been better than before. The Company
is not likely to face any major problems in the near term.