How Asian Paints Built MONOPOLY in the Indian market? : Indian Monopolies EP 1

Summary

Asian Paints' remarkable journey from its 1942 inception to becoming India's market leader is highlighted in this script. With a CAGR of 20% over 60 years, the company's innovative products, efficient supply chain, and strong dealer relationships have been pivotal to its success. The script delves into the business strategies and lessons from its consistent growth, including embracing technology and prioritizing dealer support, as it prepares for future market trends.

Takeaways

• 📈 Asian Paints has consistently grown at a CAGR of 20% over the past 60 years, making it one of India's greatest companies.
• 💡 Early investment in Asian Paints in 2000 would have yielded an impressive return of Rs 1.87 crores without considering dividends.
• 🔄 The company's business doubles every three years, showcasing its strong and sustained growth trajectory.
• 🏆 Asian Paints has been a market leader in the paint industry for 54 years, outperforming its competitors significantly in revenue and profit.
• 🛠️ Asian Paints capitalized on the ban on paint imports during World War II to establish itself as a domestic producer, identifying a market gap and opportunity.
• 🎨 The introduction of 'Washable Distemper' filled a critical gap in the market, offering quality at an affordable price, and was key to the company's early success.
• 💻 Asian Paints' investment in technology, including India's first supercomputer in 1970, allowed for efficient supply chain management and a competitive edge.
• 🛑 The company's innovative 'Regular Payment Performance Discount' incentivized timely payments, improving capital rotation and dealer relationships.
• 🔗 Asian Paints built a strong network of dealers by bearing the initial investment for tinting machines and offering support, which expanded its reach and market share.
• 🔑 Consistency in adopting technology, recruiting talent, and evolving marketing strategies has been a cornerstone of Asian Paints' long-term success.
• 🏠 Asian Paints is preparing for the future by focusing on service-oriented models and DIY tools, anticipating changes in consumer behavior due to rising labor costs.

Q & A

What is the historical significance of Asian Paints in India?

Asian Paints is significant for being one of the greatest companies in India, achieving a compound annual growth rate (CAGR) of 20% over the past 60 years and becoming a market leader in the paint industry for 54 consecutive years.

How much wealth would an investment of one lakh rupees in Asian Paints in 2000 be worth today?

An investment of one lakh rupees in Asian Paints in 2000 would be worth at least Rs 1.87 crores today, without considering dividends.

How does Asian Paints compare to its competitors in terms of revenue and profit?

Asian Paints generates significantly higher revenue and profit compared to its competitors. While Berger and Nerolac combined have a revenue of Rs 12,662 crores and a profit of Rs 1,248 crores, Asian Paints alone generates a revenue of Rs 22,044 crores and a profit of Rs 3,139 crores.

What was the initial market strategy of Asian Paints?

Asian Paints initially targeted rural areas where people painted the horns of bulls and the entrances of their houses. This rural-to-urban approach helped them achieve revenue of Rs 23 crores by 1952.

What innovative product did Asian Paints introduce in the 1950s?

In the 1950s, Asian Paints introduced a game-changing product called washable distemper, which was positioned between dry distemper and plastic emulsions. It combined the qualities of plastic emulsions but was more affordable.

What critical factor contributed to the success of Asian Paints' supply chain?

One critical factor was the introduction of the 'Regular Payment Performance Discount,' which incentivized timely payments from dealers and improved capital rotation, enabling Asian Paints to operate efficiently with less working capital.

How did Asian Paints leverage technology in the 1970s to enhance its operations?

Asian Paints invested in a supercomputer in 1970, which they used for demand forecasting and supply chain management, significantly improving efficiency and reducing workforce requirements.

What strategy did Asian Paints use to strengthen its relationship with dealers?

Asian Paints provided tinting machines on a lease agreement to dealers, making it affordable and reducing the burden on dealers. They also established a seamless support system, addressing dealer queries quickly and effectively.

What are the two major trends expected to shape the future of the paint industry?

The two major trends are the evolution of a service-oriented industry, where customers will pay for value-added services, and the rise of the DIY (Do-It-Yourself) model, driven by increasing labor costs and the availability of sophisticated tools.

What lessons can be learned from the success story of Asian Paints?

Key lessons include identifying market gaps, emphasizing efficiency, treating employees and partners with care, and maintaining a strong company culture and independent board of directors to drive long-term success.

Outlines

00:00

📈 Asian Paints' Remarkable Growth and Market Dominance

This paragraph introduces the incredible growth and success of Asian Paints in India. It highlights the company's consistent growth at a CAGR of 20% over 60 years, the potential wealth generation for early investors, and its sustained market leadership for 54 years. The paragraph also compares Asian Paints' revenue and profit with its competitors, Berger and Nerolac, to emphasize its dominance. It raises questions about the company's secret to success and hints at the business lessons to be learned from its history. Additionally, the script mentions a sponsorship by Skillshare, an online learning platform, and shares the host's personal experience with the platform.

05:03

🏭 The Strategic Foundations of Asian Paints' Success

The second paragraph delves into the strategic moves and market research that contributed to Asian Paints' success. It discusses the company's origins during the British rule in India when a ban on paint imports presented an opportunity for domestic production. The founder, Mr. Champaklal Choksey, is credited with identifying two segments in the paint industry and initially targeting rural areas, which eventually led to urban market penetration. The paragraph also explains how Asian Paints addressed a gap in the market by introducing washable distemper, a product that was both affordable and of high quality, which played a significant role in the company's growth and profitability.

10:03

🚚 Asian Paints' Pioneering Supply Chain Management

This paragraph focuses on the supply chain innovations that have been a cornerstone of Asian Paints' dominance. It describes the company's early adoption of a 'Regular Payment Performance Discount' to incentivize timely payments from distributors, thereby improving capital rotation. The paragraph also details the technological advancements that Asian Paints implemented, such as the use of a supercomputer for demand forecasting and the adoption of GPS for tracking, which significantly increased operational efficiency. The company's direct distribution model, which eliminated middlemen, is also highlighted as a key factor in its success.

15:04

🤝 Building a Strong Network and Preparing for the Future

The third paragraph discusses the importance of Asian Paints' relationship with its dealers and the strategies employed to maintain a robust dealer network. It explains how the company facilitated the adoption of tinting machines by dealers through leasing arrangements and financial support. The paragraph also touches on the company's commitment to customer service and support, ensuring rapid response times and effective problem resolution for dealers. Furthermore, it outlines the company's efforts to stay ahead of the competition by adapting to market trends, such as the increasing labor costs in the painting industry and the potential rise of a DIY model.

Keywords

💡Asian Paints

Asian Paints is an Indian multinational decorative and industrial painting company. It is a key subject of the video, which discusses its growth, market dominance, and business strategies over the past 60 years. The company's success is attributed to its innovative products, supply chain efficiency, and dealer relationships.

💡CAGR (Compound Annual Growth Rate)

CAGR is a measure of growth over multiple time periods and is used to understand the growth potential of an investment. In the video, it is mentioned that Asian Paints has grown at a CAGR of 20% for the past 60 years, indicating its consistent and significant expansion.

💡Market Leader

A market leader is a company that has the largest market share in its industry. The term is used in the script to describe Asian Paints' position in the paint industry, where it has been leading for 54 years due to its business strategies and customer base.

💡Supply Chain Management

Supply chain management refers to the coordination and management of activities involved in the production and delivery of products. The video highlights Asian Paints' world-class supply chain, which has been a critical factor in its success, including the use of technology for demand forecasting and efficient operations.

💡Washable Distemper

Washable Distemper is a product introduced by Asian Paints that was positioned between dry distemper and plastic emulsions in terms of quality and price. It was a game-changing product that helped the company gain a significant market share due to its affordability and quality.

💡Tinting Machines

Tinting machines are devices that mix standard colors to produce a wide variety of shades. In the script, it is mentioned that Asian Paints' distribution of these machines to its dealers significantly increased sales and efficiency, showcasing the company's innovative approach to product distribution and dealer support.

💡DIY (Do It Yourself)

DIY refers to the act of individuals performing tasks typically done by professionals. The video discusses the potential shift towards a DIY model in the paint industry due to rising labor costs and the introduction of user-friendly tools by Asian Paints, indicating a strategic move to adapt to market trends.

💡Efficiency

Efficiency in a business context refers to the most effective use of resources to achieve maximum productivity. The script emphasizes the importance of efficiency in Asian Paints' operations, such as reducing workforce in production while maintaining output, which has contributed to the company's profitability and growth.

💡Independent Directors

Independent directors are members of a company's board who do not have a management role and are intended to provide an outside perspective. The video notes that Asian Paints has a high number of independent directors, which is a testament to the company's commitment to good governance and strategic decision-making.

💡Service-Oriented Models

Service-oriented models focus on providing services that add value to the products offered. Asian Paints has adopted such models, like experience stores and painting services, to enhance customer experience and differentiate itself in the market, as discussed in the video.

💡Skillshare

Skillshare is an online learning platform mentioned in the video as a sponsor. It offers classes on various subjects taught by industry professionals. The mention of Skillshare serves as an example of the video creator's use of educational resources to improve their content creation skills.

Highlights

Asian Paints has achieved a remarkable 20% CAGR growth over the past 60 years.

An investment of one lakh rupees in Asian Paints in 2000 would be worth Rs 1.87 crores today without considering dividends.

Asian Paints' business doubles every three years, maintaining its market leadership for 54 years.

The company's revenue and profit significantly outpace its competitors, such as Berger and Nerolac.

Asian Paints capitalized on the British Raj's paint import ban in 1942 to establish a domestic production base.

Founder Champaklal Choksey's market research identified key segments in the paint industry.

Asian Paints initially targeted rural areas for distribution, which eventually led to urban market penetration.

The introduction of washable distemper created a new product category and boosted Asian Paints' market presence.

Asian Paints' supply chain efficiency, established since the 1960s, has been a key factor in its dominance.

The company pioneered 'Regular Payment Performance Discount' to improve capital rotation and dealer relationships.

Asian Paints' early adoption of technology, including a supercomputer in 1970, streamlined its operations.

Elimination of middlemen and direct supply to dealers has allowed Asian Paints to maintain higher profit margins.

Asian Paints' extensive distribution network and tinting machine strategy have solidified dealer relationships.

The company's portal and customer support ensure swift resolution of dealer queries and problems.

Asian Paints' logistic system ensures efficient delivery, even multiple times a day in some cities.

The company's culture of supporting dealers during unforeseen events has built a loyal network.

Asian Paints' board of directors consists of credible independent directors, ensuring the company's forward-thinking.

Asian Paints is adapting to future market trends by focusing on service-oriented models and DIY tools.

The company is expanding into related home decor and improvement sectors to offer comprehensive solutions.

Key lessons from Asian Paints include identifying market gaps, prioritizing efficiency, nurturing dealer relationships, and maintaining a strong company culture.

Transcripts

Hi everybody, Asian Paints is one of the

greatest companies in the history of India.

And the most astounding thing about this company

is that it is the only company to have grown

at a CAGR of 20% since the past 60 years.

And if you invested just one lakh rupees in Asian paints in

2000 today at Rs 3000 per share, your wealth would be worth

at least Rs 1.87 crores, and that too without dividends.

The business of Asian Paints literally doubles every three

years and it has been a market leader in the industry not

for five years, not for 10 years, but for the past 54 years.

And if you draw a comparison of Asian paints with its

competition in Tickertape, you will see that well Berger

stands at a revenue of Rs 6869 crores, Nerolac has a revenue

of Rs 5793 crores their combined total is Rs 12,662 crores,

but Asian Paints alone generated revenue of Rs 22,044 crores.

Similarly, Berger generated a profit of Rs 719 crores,

Nerolac stands at Rs 529 crores their combined profit is

Rs 12,049 crores but Asian Paints alone generated a profit

of Rs 3139 crores.The question is how did Asian Paints

become such a dominating force in the paint industry?

What exactly is their secret sauce that enabled

them to be a market leader for 54 years?

And most importantly, what are the business

lessons that we need to learn from the

greatest paint company India has ever seen?

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The story of Asian Paints dates back

to the volatile times of 1942, India.

And this is something that you might already know that

during that time, India was still under the British

raj, World War Two was still going on and the government

had temporarily banned the imports of paints in India.

During those days the paint industry in India had

a few foreign companies and Indian players like

Shalimar paints were the major players in the market.

But this ban resulted into a brilliant

opportunity for domestic production.

And spotting this opportunity.

Mr.

Champaklal Choksey and three of his friends

set up Asian Paints in Mumbai in 1942.

And one of the most amazing traits of this gentleman

was that he was an incredible market researcher and he

spent a lot of time understanding the paint industry.

This is when he understood that there

were two segments in the paint industry.

One was the industrial segment and the

other was the decorative paint segment.

In the industrial segment, it was a b2b space that is

all about supplying paint to giant factories and plants.

Whereas the decorative segment was a b2c as in

a business to consumer space wherein you could

sell paint to the common man to paint his house.

Long story short, initially, the

large distributors rejected Mr.

Choksey so he turned to the villages wherein people painted

the horns of the bulls and the South Indians painted the

entrance of their house considering it to be auspicious.

Looking at this demand, MR.

Choksey started supplying to the village distributors,

the demand soon enough short up, and within some time,

the bigger distributor started approaching Asian Paints.

And in the next 10 years with this rural to urban

approach, they hit revenue of Rs 23 crores by 1952.

Now the obvious thing over here is that

they couldn't have become the biggest player

just by selling paints for bull horns.

Right?

Then the question is how did Asian Paints

become the biggest player in the market?

Well, this is where the second phase

of Asian Paints growth started when Mr.

Choksey noticed another huge gap in the market.

During the 1950s Mr.

Choksey saw that there were two major products in the market.

One was a basic dried distemper that was extremely

cheap, but it had a tendency to peel off.

It used to stick to the clothes

and it used to stink very badly.

The second product was the plastic emulsion product

that was free from all of these problems but was

five times costlier than tried distemper.Therefore,

it was unaffordable for the common man.

So you know what guys, Asian Paints came up with a

game-changing product called the washable distemper that was

placed exactly between dry distemper and plastic emulsions.

Now, this was a revolutionary product because

it has the qualities of plastic emulsion, but

it was way cheaper than the emulsion product.

And this product was marketed using a very

successful marketing campaign which said,

"Don't lose your temper, use tractor distemper."

And guess what, within no time, washable

distemper was a massive hit in the market,

and the company started taking giant leaps.

Although the firm was not very profitable during

the 1950s, from 1952 to 1962, the revenues grew

at a compound annual growth rate of 21%, with

margins rising from just 2% to 13% by 1962.

And by 1967, that is 25 years after the company started,

Asian Paints became the largest paint company in India.

And the most astounding thing is that even today,

that is even after 54 years, Asian Paints is still

the largest paint company in the Indian market.

Now, this begs the question, in this volatile and

uncertain market with such a vast customer base

spread across an extremely diverse country like

India, how is it even possible that not a single

company could challenge the position of Asian Paints?

Well, the answer to that lies in three critical

aspects of the Asian Paints organization.

The first is a world-class supply chain that

they've built over the past 60 years.And

the Foundation came way back in the 1960s.

During that time, large multinational corporations used to

offer at least 180 days of credit period to their distribution

channel and this included the shopkeepers, the dealers, the

distributors, who supplied paints to the retail customers.

This channel allowed the distributors to expand

the credit period even as long as one full year.

For example, let's say you are a paint company, and

I am the shopkeeper and you gave me Rs 60,000 worth

of paints that I am supposed to sell at Rs 80,000.

So, I can take up to six months to sell

the paint and then pay you back Rs 60,000.

And this means that for you Rs 60,000

of capital is stuck and cannot be used.

Now, if the same thing happens with 1000

distributors across the country, that is Rs 6

crore worth of capital of yours that will be stuck.

This money cannot be used to buy raw materials.

And for the next cycle, you will need another Rs 6

crores, which means that you need an exorbitant amount

of working capital to even survive in the market.

This is the reason why the smaller players

found it very difficult to enter the market.

So the entry barrier was very very high.

But the one practice that was prevalent and even today it

is still prevalent in any credit system is that even if the

shopkeepers have sold Rs 60,000 worth of paints, then they have

got 180 days to pay back, no one really bothers to pay back.

And even if they did, they used to pay using post-dated checks.

Now the Asian Paints team understood this very clearly.

So they came out with something called

'The Regular Payment Performance Discount'

wherein the regular payback was incentivized.

For example, a shopkeeper would get a 3.5% extra discount

if he made the payments within 30 days throughout the year.

Similarly, if a dealer made payments in cash, they

would get a 5% discount on his procurement price.

Now, this was a very, very big deal because the paint industry

by default operated at razor-thin margins at the dealer level.

And these initiatives worked wonders because it was

a win-win for both Asian paints and the dealers.

Why?

Because Asian Paints was able to rotate its capital faster.

So they were able to serve a larger network of

distributors with very less working capital.

And at the same time, the dealers were getting

discounts and manage their working cycles better.

Similarly, in the next 50 years, Asian Paints always

remained a pioneer in supply chain management.

In fact, Mr.

Champaklal Choksey bought the first-ever

supercomputer in India in 1970 for Rs 8 crore.

And what blew my mind is that Asian Paints had a supercomputer

10 years before ISRO had it,10 years before IIT Powai had

it and 21 years before any other company in India had it.

And they use these mainframes to forecast demand by which they

could run their supply chains at insane levels of efficiency.

They started branch billing on computers way back in the 1970s.

And even started using GPS for

tracking the movements of their trucks.

And the result?

Well, in 1980, the Bhandup plant used to operate

with 1600 workers, but Ankhleshwar started production

for the same capacity with only 250 workers.

And by 1985, the same thing was

done with less than 100 workers.

So you see, in less than five years, they were able to improve

their efficiency to such an extent that now they were able

to operate at the same capacity with 1/16 of the workforce.

All of this was done because of insanely superior technology.

Secondly, from 1970s onwards, Asian Paints

removed all middlemen like distributors and

wholesalers from its distribution channel.

And this meant that they were supposed to supply

directly to the dealers and because of this today,

Asian Paints the manufacturer reaches 70,000

paint dealers without any channel intermediation.

Therefore, with only 3 to 5% average margin

for the dealers, Asian Paints is able to

keep 95 to 97% of the margins for itself.

Meanwhile, the extraordinary levels of efficiency have

taken Asian paints to such heights that even today

with 125 depots in its supply chain, while Nerolac

generates a revenue of Rs 40 crore per depot, Asian

Paints generates revenue of Rs 100 crores per depot.

Similarly, the revenue per factory for Nerolac

is at Rs 700 crores, whereas Asian Paints

stands way ahead at a revenue of Rs 1500 crores.

This is the level at which Asian Paints operates.

And this brings us to the second critical

factor and that is a relationship with dealers.

A classic example of the same was a distribution

of something called tinting machines.

For those who don't know, tinting machines are

machines that could produce a large variety of

shades using a small set of standard colors.

For example, if you wanted saffron, the tinting machine will

be able to mix red and yellow in appropriate quantities to give

you the exact same saffron color that you're looking out for.

So because of the usage of a tinting machine, you no longer

had to store every single color bucket in your inventory.

And today, you can produce 1000s of colors with tinting

machines without going back to the manufacturer.

Therefore, the very presence of these machines

meant that the sales of the company would skyrocket.

And what blew my mind is that today, while Nerolac and

Berger together deploy 46,000 tinting machines through their

dealer network, Asian Paints alone has 50,500 machines.

The question is, how is there such a stark

difference between Asian paints and others?

Well, that is not just because of the extensive network

that Asian Paints has, but also because Asian Paints built

a seamless system for the adoption of the tinting machines.

Because back then the problem was that tinting machines

were manufacturer-specific, they required significant

space in the store and they were extremely costly.

And while many paint companies asked the dealers

to bear the heavy cost, Asian paints used to bear

the initial investment, and then it would give

the machine on a lease agreement to the dealers.

This way, the dealers felt less burdened, and the company

established a solid relationship with its dealers.

Therefore, the entry barrier even for

small players was almost eliminated.

This is the reason why the network Asian Paints grew

from just 15,000 dealers in 2001 to 52000 dealers

in 2018 because even the smallest dealer in the

market could afford to partner with Asian Paints.

Furthermore, after some time, Asian Paints orchestrated

a three-way agreement wherein banks funded the dealer and

then the dealers repay the loan to the banks over time.

This way, the investments were not reflected

in the company's balance sheet and at the same

time, financing was made easy for the dealers.

And even today when I spoke to the few dealers in my circle,

they told me that the Asian Paints portal is so amazing that

their queries get answered usually within just 24 hours.

And regardless of whatever problem the dealer

faces, the company has an extensive customer

support team to help them out with extreme care.

And even in the tier four cities, if you order products in

the evening, it will be delivered to you by noon without fail.

And in tier-one cities, Asian Paints logistic

system delivers goods two times a day, and in

some cases, even four times every single day.

Cherry on the cake is that Asian Paints has always gone

beyond its call of duty to help its channel partners in

case if they faced any unexpected problems.And as Jalaj

Dani, an Asian Paints executive stated and I quote, "Dealers

are a part of our family, if we find that they're affected

due to unforeseen events like riots, floods, earthquakes,

etc, we ensure that the best support is provided to them

in every possible manner, including expanding the credit

period, so as to help them get back on their feet."

This is a reason why ladies and gentlemen, Asian Paints

has the largest number of dealers and an extensive

network that is far, far superior than its competition.

And the third critical factor is their

incredible levels of consistency.

Now, people, I don't know how many of you see this, but then

in the past 50 years, the stakes of the founders have changed.

And just like any other giant company, even Asian

Paints had some conflicts within the company.

But even then, they have been remarkably

consistent with their adoption of technology.

They've been recruiting the same

grade of talent since the 1970s.

And their marketing has constantly evolved

with changing trends in the Indian culture.

And last and most importantly, many companies fill their

boards with friends and cronies in order to pay lip

service to the legal requirement that mandates that 50%

of the board should comprise of independent directors.

But Asian Paints is among the rare breed of

companies whose boards are truly independent.

Out of 14 directors, Asian Paints has seven

independent directors who are credible individuals with

extraordinary backgrounds, who always make sure that

the company is always a notch ahead of its competition.

And this brings me to the last part of the

episode and that is since the past 54 years Asian

Paints has been a market leader that's fine.

But today what is Asian Paints doing to stay ahead If it's

competition in the next 50 years, to understand this, you

will first have to look at the megatrend in the paint market.

If you see the cost of labor involved in painting

at a home has increased from just 10% of the

project cost in 1980 to 65% of the project cost.

This is because from 2006 to 2015, the labor

costs in India have grown at a CAGR of 9% to 10%.

Whereas the paint prices have increased at a mere 3% CAGR.

So in the next 10 to 15 years, labor costs are expected

to be around 90% of the overall paint project cost.

And when this happens, it will make more sense

for you to buy paint from a store and paint a home

yourself rather than employing painters and laborers.

And once this happens two consumption

patterns are likely to emerge.

Number one, customers will be willing to pay for labor

involvement only if there is service-oriented value

addition, that can not be done without expertise.

This is a reason why Asian Paint has already

started trying several service-oriented models.

They've been opening experience

stores in Mumbai, Delhi, and Kolkata.

They've opened color ideas stores, which

provide color consultancy in mom and pop stores.

They have home solutions painting service, which

currently executes 20 to 25,000 projects a year.

And then we have Royale Play that is high-end textured paints.

And apart from that, they've even started laying

the foundations into kitchenware, bathroom

fitting, furniture, and even interior decoration.

So to put that straight Asian Paints doesn't

just want to paint your house, they want to build

and sell everything that is inside your house.

This is the first trend that is the evolution of

a service-oriented industry in the paint market.

Secondly, the DIY model is expected to emerge.

Currently, households do not adopt a DIY approach

because of the lack of sophisticated tools, and

number two, at 60% to 65% of the project cost, labor

involvement is still affordable for many households.

However, with sophisticated tools being introduced in

the market, and with the labor cost shooting up to 90%

of the project cost.both these factors are expected

to change the trajectory of the paint industry.

This is the reason why Asian Paints is now venturing into

building user-friendly DIY tools in order to empower ordinary

people like you and me to be able to paint our house.

This is what Asian Paints is doing to prepare for the future.

So if this is very, very clear to you, let's

talk about the lessons from the case study.

Lesson number one, no matter how big the players in the

industry are, if you want to become successful, it is

absolutely important to identify the gaps in the market.

Lesson number two, and this is something we've seen even in

the case of Toyota and Ford, that efficiency is one of the

most powerful yet the most underrated aspect of a business.

And in the race of scaling up, companies often

overlook the inefficiencies in their system.

A classic example of the same was Ford and even

Gillette.Whereas on the other side, they've got

companies like Asian paints, who deploy incentives

in the form of regular payment discounts and

invest heavily into the next-gen technology like a

supercomputer to reach unthinkable levels of efficiency.

Lesson number three, while on one side, we've got companies

that treat their employees as objects and exploit them

in the name of efficiency, on the other side, we've got

Asian Paints that goes beyond its call of duty to make

financing easy for dealers, to give them extended credit

period during slack time, to resolve their queries with

utmost care within 24 hours, and most importantly, to go

out of the way to help them out during a calamity saving

them from an unimaginable amount of pain and suffering.

And lastly, while good brands have a legendary

leader, a great brand has a legendary culture.

In this case, it was the impeccable board of directors

of Asian paints, the star recruits from IIM, and the wise

marketers of Asian paints, who have kept the legacy of the

company not for five, not for 10 but for 70 consecutive years.

If this isn't an epitome of greatness, I don't know what is.

That's all from my side for today, guys.For your study

materials, I'm attaching the links to them in the description.

And please read this book called 'The Unusual Billionaires'

because I found some fascinating insights about Asian Paints

in this book for this case study, and if you learned something

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Thank you so much for watching.

I'll see you in the next one.

Bye-bye.

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