I have followed the following steps as suggested by tutorials and other stack overflow questions:
The problem I suspect is that when I launch the image asset, the default is on clipart and not on image. So everytime the app is run it may be picking up the default clipart icon.
I have also kept the app icon in the toolbar. This changes sometimes. If the app is run again it changes back to the default green android icon.
I have the new android studio 2.1. So is there some problem with it in this regards?
In the manifest:
android:icon="@drawable/ic_launcher"
android:logo="@drawable/ic_launcher"
In the drawable folder, I added my logo named ic_launcher having size 192*192 pixels.
This solution set me on the right track.