MARKETING MIX

MARKETING MIXThe marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market.

The 4Ps make up a typical marketing mix - Price, Product, Promotion and Place. However, nowadays, the marketing mix increasingly includes several other Ps like Packaging, Positioning, People and even Politics as vital mix elements. 

When marketing their products firms need to create a successful mix of:

the right product sold at the right price in the right place using the most suitable promotion.

Elements of Marketing Mix:

Product – The products or services offered to the customer .Their physical attributes, what they do, how they differ from the competitors

and what benefits they provide. When developing a product business should consider quality, design, features, packaging, customer service and any subsequent after-sales service.

Price – How the price of the product or service so that the price remains competitive but allows business to make a good profit. There are a number of considerations in relation to price including price setting, discounting, credit and cash purchases as well as credit collection.

Place (Also referred to as Distribution) – Where the business sells its products or services and how it gets those products or services to the customers. This includes the location of the business, shop front, distributors, logistics and the potential use of the internet to sell products directly to consumers.

Promotion – The methods used to communicate the features and benefits of the products or services to the target customers. It involves persuading general consumers to become customers of your business using methods such as advertising, direct marketing, personal selling and sales promotion.

All the elements of the marketing mix influence each other. They make up the business plan for a company and handled right, can give it great success. But handled wrong and the business could take years to recover. The marketing mix needs a lot of understanding, market research and consultation with several people, from users to trade to manufacturing and several others.

MARKETING MIX OF ASIAN PAINTS:-

PRODUCTS:

Asian Paints is engaged in manufacturing of paints. The company offers interior and exterior wall paints, automotive paints, powder coatings, auto refinish paints, and wood finishes. It

operates in 22 countries and has 29 paint manufacturing facilities in the world servicing consumers in over 65 countries. It is headquartered in Mumbai, India and employs 3,924 people.

1) Interior Wall Paints

Product Name: Asian Paints Royale Luxury Emulsion

Description: Royale luxury sheen emulsion is an exquisite emulsion paint that provides a luxurious finish and a silky glowing appearance to your walls. A water-based, 100% acrylic interior wall finish, it has excellent flow giving a near brush mark free finish. It also offers high stain resistance - walls painted with royale are easy to clean and maintain that new look for years. Royale also offers good anti-fungal properties, and can be applied on all types of smooth plasters, false ceilings, asbestos sheets, concrete etc.

2) Exterior Wall Paints

Product Name: Asian Paints Exterior Wall Primer

Description: Asian Paints Exterior Primer is water-based wall coating suitable for application on exteriors as an undercoat to exterior emulsions. It has a good opacity & whiteness, which helps improve the appearance of the emulsion top coat. Exterior Wall Primers does not chalk & can be applied on freshly plastered surfaces that are adequately cured. It does not require any water curing.

3) Wood & Metal Paints

Product Name: Asian Paints Knifing Paste Filler

Description: Asian Paints Knifing Paste Filler is used on metallic or wooden surfaces for filling of dents & other surface imperfections. It has butter like consistency & is easy in application. It is supplied at ready to use consistency but can be thinned easily to any desired consistency by using recommended thinner. On air drying it dries hard. Cutting is easy & involves no strain.

4) Wood Finishes

Product Name: Asian Paints Wood Primer

Description: Asian Paints Wood Primer is specially formulated to protect wood. It has an excellent sealing & filling properties which protects wood from swelling due to absorption moisture. Wood Primer penetrates wood fibre & gives excellent adhesion to substrates & also serves as a sound base for application of undercoats & finishing coats. It also protects the finish coat from exudation of resinous matter oozing out from wood.

5) Ancillaries

Product Name: Asian Paints Decoprime Wall Primer ST

Description: Asian Paints Deco-Prime Wall Primer (ST) is suitable for use as primer for masonary topcoats like distempers, emulsions, lustre & matt wall finishes. It helps in providing a suitable surface for application of subsequent coats of putty & finish paint. It sets fast, has good sealing properties, good resistance to wall alkalinity, moisture & fungus.

Product Name: Asian Paints Acrylic Wall Putty

Description: Asian Paints Acrylic Wall Putty is water based putty. It is one of the best product of its kind available in the market. It provides a very strong durable foundation & brings out the best performance from the finish paints both in looks & durability.

PRICE MIX

Asian paint produces a wide range of products which have more than 1100 shades. Their products were targeted to the different segment of the society. The cost of the produce of Asian paint varies according different income level of the consumer. Company follows the principle providing the customer different kind of products and different price. In company’s Decorative premium Sector Company have products like Asian paint Royals and Asian paint Emulsion. The cost of these products is Rs.275 and the latter Rs. 201 where the product like GATTU and Utsav family product are targeted to lower income segment people the cost varies from Rs.15 – Rs. 20.

Products of Asian Paints in Industrial sector:

It is the second category of the product that Asian paint produces. In this segment Asian Paints targets to industry where the paint are used for protective coatings of the machinery, road mapping and various other industrial uses. In this segment the product are normally sold at the premium price. Asian paint in this sector is behind its competitor Nerolac. Now Asian Paints is trying a lot to improve the product technology and by bringing new product in this sector to compete with its competitor.

Owing to the fact that this is an oligopoly market, Asian Paints adopted a policy of cost-plus pricing strategy. Cost-plus pricing strategy determines the price of a product or a service by adding up all direct and indirect costs which are related with the production and sale of that product(service) or not.

Place mix

At the time Asian Paints entered the Indian paint business. Distribution was the most crucial task for any new entrant. Both physical distribution and channel management posed formidable challenges. The foreign companies and their wholesale distributors dominated the business. Also they were shutting the doors on any new paint company seeking an entry into the business. They concentrated on big cities where they could make the sales without much investment in distribution infrastructure and market development.

Asian Paints sized up the scenario and formulated a unique strategy. It went in for a strategy that differed totally from the existing pattern.

Asian Paints is a leading company in the paint industry in India. While it has grown from a relatively small, decorative paint company to a large business that has a vast consumer customer base, the company's methods of distribution and marketing have only changed slightly over the years. The basic distribution and marketing strategies are still similar to the initial strategies used when Asian Paints first opened its doors.

Wide Range of Products

Asian Paints used the strategy of offering a wide range of products to push competitors to the side and become the leading Indian company in decorative paint. Companies that have a larger selection available for clients or customers are more likely to retain those clients and customers than companies which are limited and do not have the colour choices. By offering a wide range of products, Asian Paints has been able to broaden its customer base.

Automated Machines at Distributors

Technology is a large part of Asian Paints' distribution success. The company provided automated machines that mixed paint colours at the distributors to allow customers and consumers more range in colour and more options. These machines use technology to produce colours that otherwise are unavailable, resulting in a wider range of selection.

Distribute to Rural Areas

A big problem with paint companies in India was a competitive market in the large cities, where distribution was relatively easy and the risks were low. Asian Paints started by working from the rural areas, where distribution was a challenge and where the other companies had overlooked. Instead of focusing in cities and urban areas, Asian Paints focused on a national level and worked in until reaching the cities.

Focus on Emerging Markets

Expanding from India, Asian Paints started working on distributing decorative paints to emerging economies. It is a similar strategy to the initial strategy used in India, but it is now expanding to countries and locations outside of India. Rather than distribute to economies like the U.S., Asian Paints has turned its focus to customers in places like Singapore and Egypt.

Promotion mix

Asian paints the market leader of the decorative segment in the paint

market of the India. In achieve the current position a lot things are being done by the Asian paints. The promotion strategy of Asian paints is bringing a lot of positive output to the company. Company is using different techniques such ad. Campaign, sales promotion, personal selling, direct marketing and public relation.

Asian paint is dominating the television advertisemnt by increasing other ad campaign cost over 50% from next year. A total amount of 85 crores is spent on the ad campaign by Asian paint. With huge ad campaign support behind the product the company is able to making a brand name in the mind of customer. Their particular ad campaign ‘Mera Walla Blue” “Har Ghar Kuch Kehta Hai” is being liked by the customer.

Asian paint online marketing system is helping company in lot of ways many customers all the necessary information to the customer. It is a unique way of promotion. Asian paint had established 30 colour world throughout the country giving the people real taste of colour. The punch line for the colour world is “Jahan Milen world ke saare colour”

Asian paint has large area of Network of distribution. It has almost retail outlets throughout the country situated in the different city of India. All the customers could easily access the product of Asian paint anywhere and anytime.