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Cross Promotional Strategy of Asian Paints with Sleek Group.

Strategic Marketing

Cross Promotional Strategy of Asian Paints with Sleek Group (Furniture)

-Prof. Shailesh Kale

Team Name : Pacifiers

Team Members

• Janhobi Dey• Ghorpade Saheb• Rahul Gupta

• Abhishek Hawal• Kritesh Jangid

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What is Cross Promotion…?

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Two Or More Groups (Businesses) Act Hand-in-hand To Reach A Common Goal.

The Busiest Entrepreneur Can Attract More Customers With Less Effort

Why?

If You Plan On Doing Cross-promotion : Need Teaming-up With Other Credible Businesses.

In Simple Words “ You Scratch My Back , I Will Scratch Yours”

These Businesses Also Reach Out To Your Market, And With Cross-promotion You Can Get In Touch With Your Customers With More Efficiency

What is Cross Promotion…?

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Huge marketing pay-off is highly possible in a cross-promotion strategy.

Through cross-promotion, you as the partner have the ability to successfully expand using the other group’s customer base and vice-versa.

For example, a buyer purchasing a shirt may be shown a picture of a pair of pants that coordinate with the shirt, or a buyer of a computer program may receive an email offering a reduced price on a guide to using that program.

Introduce their business the inexpensive way, and it is also more effective than with the traditional “solo” methods of networking, advertising, or public relations.

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Benefits of Cross Promotion…

1: It builds that your business’ credibility

2: This venture lets you save money

3: It lets you expand the current database

4: It lets you save time and save your resources

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Benefits of Cross Promotion…

5: Provides your business with better exposure

6: It builds trust

7: This type of strategy stands-out

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Cross promotion strategy Failure

• It can be because of :

Not setting the (right) expectations

Focusing on tactics before developing strategies

Not knowing the Target Audience properly

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Cross promotion strategy Failure

Few Examples

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70 years of innovation in paintSince its foundation in 1942,

1973 became public ltd co.

127.15 billion turnover

Asian Paints has always been a leader in the paint industry, pushing new concepts in India like Colour Worlds, Home Solutions, Colour Next, and Kids’ World.

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SEGMENTATION

•DECORATIVE PAINTS

• Interior Wall

• Exterior wall

• Enamel paints

•Wood finishing

•INDUSTRIAL PAINTS

• Floor coating

• Road making

• Protection Coating

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Sleek International has grown from being a wire basket manufacturer in 1993 to a complete kitchen solution provider today. Sleek’s core competency translates into increased customer satisfaction, through innovative and efficient design, world-class quality and excellent craftsmanship. The company has tied up with the world’s best to set the benchmark in the modular kitchen design industry 30,000 modular kitchens are installed annually, and over 10 lakh Indian homes. Sleek has truly become the most popular modular kitchen brand in India. Now aligned forces with Indian Paint Industry – Asian Paints. Sleek looks forward to growing systematically and dominating the modular kitchen business in the country.

• Expansion of business

• Growing industry in India

• Opportunity of other products

• Looking for complete home solution

•Direct competition with other players like Godrej Interio, Hafele, Gilma,

Haecker and Veneta Cucine

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Win-Win Situation

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Recent

• The stock had declined 1.9% • According to Abneesh Roy, analyst, Edelweiss

Securities, every consumer who paints his house can be a potential buyer of modular kitchen as well

• Manish Jain, analyst, Nomura Equity Research, remains 'Neutral' on the stock (Target price of Rs 4,105) as he seeks more cues from the company about long term strategic direction

• According to analysts, Rs 2,000-3,000 crore organised modular kitchen market in India is growing at 25% CAGR

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