Internship report

on
Competitive strategies of Elite Paint and Chemical Industries
LTD

Submitted To
Dr. Fuad Hasan
Department of Marketing
University of Chittagong

Submitted By
Tahmina Akter
ID: 18304037
Session: 2017-2018,
Batch: 26th
Department of Marketing
University of Chittagong

Date of Submission: 31st May, 2023

 Declaration

I am Tahmina Akter , Id no: 18304037, 26th batch, Department of Marketing, Faculty of

business Administration, University of Chittagong, declaring that I myself completely
prepare this internship report on “Competitive Strategies of Elite Paint and Chemical
Industries Ltd" for the requirement of BBA program, not for any other purpose.

________________________________
Tahmina Akter
ID No: 18304037
Session: 2017-18
Batch: 26th Batch
Department of Marketing
University of Chittagong.

i
 Letter of transmittal

To

Dr. Fuad Hasan

Professor
Department of Marketing
University of Chittagong
Subject: Submission of Internship Report.
Respected Sir,

I am pleasure to submit the Internship report of my six weeks long Internship program at
Elite Paint and Chemical Industries Limited in Chittagong Office. The title of the report is
“Competitive Strategies of Elite Paint and Chemical Industries Limited”. This report has
been prepared to fulfill the requirement of my internship program to complete my BBA
Program.

I have tried my level best to make this report effective and informative. It has been a great
experience for me to work in the organization & prepare this report which will be helpful to
build my career in the corporate sector.

I would like to express my sincere gratitude to you for your kind guidance & suggestions for
preparing this report. It would be my immense pleasure if you consider this report
worthwhile & informative. I shall be obliged to provide any further explanations and queries
regarding this report or any other relevant matters if required.

Sincerely Yours,
________________________
Tahmina Akter

ii
 Acknowledgement

It has been an assiduous and entertaining experience for me as I haven’t had any real-life
experience of working on any company before. I am grateful to my academic supervisor Dr
Fuad Hasan, Professor of Department of Marketing, University of Chittagong, for providing
me with the proper guidance and support.

I would like to thank Mr. Shajir Ahmed, Director of Elite Paint for giving me this
opportunity to do my internship in this well-renowned organization.

I express my honest & sincerest gratitude to Mr. M. A. Mukit Chowdhury, Senior Manager
(Strategies) of Elite Paint, my on-site supervisor who assist me by providing time to time
information, suggestion as well as the procedure to work with topic.

I am showing my gratitude to all the management & non-management staffs who have helped
me during the internship period.

I perceive this opportunity as a big milestone in my career development. I will try to utilize
these gained skills and knowledge in the best possible way, and I will continue to work with
these improvements to attain desired career objectives.

iii
 Executive Summary

Elite Paint is one of the leading manufacturers of paints and varnishes in Bangladesh which
was established in 1952 as the first-ever paint company in Bangladesh. The internship has
been conducted on Marketing Analysis and Competitive Strategies of ELITE PAINT. This
internship is comprised of 7 chapters including Introduction, Overview of Elite Paint and
Chemical Industries, Job Responsibilities, Overview of the Whole Paint Market, Strategies of
Elite Paint and Chemical Industries, Analysis of the company, Findings and
Recommendations and Conclusion. This is the internship report based on the 6 weeks long
internship program that we have successfully completed in Elite Paint and Chemical
Industries in Chattogram Depo at GEC, Chittagong city from 08-04-2023 to -2023 as a
requirement of my Bachelor of Business Administration (BBA) Program under Faculty of
Business Administration, University of Chittagong (CU). I was placed under the Strategic
Department of Elite Paint. The division is responsible for providing strategic analysis to the
company.

The objective of this report is to identify and analyze the marketing strategies of EPCIL
(Broadly). I have used both the Primary sources of data and Secondary sources of data. The
data has been collected by conducting an in-depth interview and personal observation. The
limitations to get the proper information were the time barriers, intension not to disclose the
information, rules and regulation, scattered location and lack of experience etc. The vision of
the company is to become the best manufacturer and supplier of quality paint products in the
country. Its primary aims are to provide consistently high quality products with international
standards at a competitive price by prioritizing customer satisfaction and to help enhance
country's infrastructure by providing the highest customer satisfaction and quality products.
This report has covered almost all the strategies of Elite Paints & Chemical Industry Ltd that
can be shared with others, for marketing its product and also includes a brief profile of the
company. To know the strategies of the company, it also includes the product categories and
the distribution channel of the company. SWOT Analysis, and Porter’s Five Forces Analysis
have been conducted to be incorporated in this report which helps to me to find out some
findings or gaps to fill. Based on these findings, some recommendations have been suggested
which will be useful and effective for the company.

iv
Elite Paint and Chemical Industries is an innovative and technology-driven Company which
is consistently delivering world-class products to ensure best consumer satisfaction through
continuous value-added services provided by a highly professional and committed team.
Production of paints and coatings is the core business of Elite Paint. It produces a wide range
of paints including decorative/architectural paints, industrial coatings, marine paints and
powder coatings. Elite Paints & Chemical Industry Ltd operates its business in a competitive
environment as it holds only 8% market share of the whole paint market in Bangladesh.
However, the company has tried to become a market leader in the paint brand since its
inception.

Elite Paint and Chemical Industries has all modern equipment & systems & highly skilled
manpower. The behavior of all the employees was very satisfying. They helped us with all
kind of information. I have been taught about how to keep pace with the competitive
corporate career under pressure. I have achieved a complete idea of this industry. From this
internship program a full concept of an industrial system has been understood.

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 Table of Contents

Sl No. Topic Page

No.

Declaration i

Letter of Transmittal ii

Acknowledgement Iii

Executive summary iv-v

Chapter 1: Introduction

1.1 Background of the Study 1

1.2 Scope of the Study 1

1.3 Objectives of the Study 1-2

1.4 Methods and Procedures 2-3

1.5 Data gathering method 3

1.6 Limitation of the Study 3-4

Chapter 2: Company Profile

2.1 History of Elite Paint &Chemical Industries Ltd 5-6

2.2 Company profile 6

2.3 Vision 7

2.4 Mission 7

2.5 Focusing point of Elite Paint 7

2.6 Nature of Business 8

2.7 Achievements 8

2.8 Organizations structure 8-9

2.9 Major products of EPCIL 9

2.10 promotion 10

2.11 Brand value 10

2.12 Recent development 10-11

Chapter 3:Overview of the Paint Industry in Bangladesh

3.1 The size and market share of Paint Market in Bangladesh 12-13

3.2 Comparative Study of Top 12 Paint Manufacturers in Bangladesh 14

Chapter 4: comparative strategies

vi
4.1 Introduction to the concept of competitive strategies 15

4.2 Competitive strategies of Elite Paint 15-19

4.3 Analysing the competitive landscape 19-22

4.4 Current market position of Elite Paint 23-25

4.5 Competitive market position of Elite Paint 25

Chapter 5: Marketing Mix

5.1 Product 33-36

5.2 Price 37-39

5.3 Place and distribution 40-42

5.4 Promotion 42-43

Chapter 6: Marketing Analysis

6.1 Introduction 44

6.2 Understanding porter five forces model 44

6.3 Impact of porters five forces model 45

6.4 SWOT analysis 46-47

Chapter 7: Findings Recommendation and conclusion

7.1 Findings 48-49

7.2 Recommendation 49-51

7.3 Conclusion 52

7.4 Reference 53-54

vii
 Chapter: 1
Introduction
1.2. Background of the Study
Internships provide a valuable opportunity for educational institutions and organizations to train
students and equip them with skills required for the job market. As a partial requirement for my
BBA degree and under the supervision of 'X', I have prepared this internship report with the
intention of providing informative and enriching content. My aim is to showcase real-world
scenarios and I have made every effort to ensure its quality.

1.2. Scope of the Study

This report has covered almost all the strategy of “Elite Paint and Chemical Industries Ltd” such
as product launching, marketing and selling activities of its various product. While preparing this
report, I had a great opportunity to have a depth knowledge of all the activities practiced by the
‟Elite Paint and Chemical Industries Ltd.”It also helps me to acquire first-hand perspective of
leading paint industries in Bangladesh.

1.3. Objectives of the study

This study had been carried out to achieve some predetermined objectives. This has been broken
down into two different categories of objective.

1.3.1. Broad objective

 To identify and analyze the marketing strategies that Elite Paint adapt in different
levels. Broad objectives of this study are these:
 To carry out an intensive strategic study on Elite Paint and Chemical Industries Ltd.
to provide an accurate depiction of the recent development in this sector relating to
the concepts of Marketing Strategy and Analysis.

1.3.2. Specific objectives:

Specific objectives of this report are as follow:
 To learn about the Elite Paint's principles, vision, mission, objectives and their
applications.
 To perceive the organizational culture and structure of Elite Paint.

1
  To identify Segment strategies
 To identify Target market selection strategies
 To identify Positioning Strategies
 To identify Pricing strategies
 To identify promotional strategies
 To identify competitive strategies

1.4. Methods and Procedures

Every report should be conducted through a specific and predetermined methodology to explore
an effective outcome. The nature of the report is a qualitative research. Thus, all the information
integrated into this report has been collected from both primary and secondary sources. Since a
single technique would not be an efficient and effective way, I have used several sources of
information to make it informative such as Formal & oral conversation, direct observation,
questioning clients and printed papers of the Elite Paint. This report is exploratory in nature
because the relevant data have been collected within the organization . This report has helped me
get deep insight and understanding about Elite Paint. To collect the necessary and meaningful
information, the following methods are used. The details of these sources are highlighted in the
following:

1.4.1 Primary sources

Primary data have been collected by direct interviews and conversations with the
employees within the Chattogram sales office of Elite Paint

 Face to face discussions with officers.

 Interviewing people with the organization.
 Personal observation.
 Practical experience attained by individual market survey about Paint Industry.
 Practical experience achieved by the fieldwork with Sales Team.
 Practical experience gained by fieldwork especially with architects and engineers.

2
 1.4.2 Secondary sources

 Elite‟s Bluebook
 The website of Elite paint (www.elitepaint.com.)
 Prospectus of Elite paint
 Different journals and publications
 Professional media e.g., LinkedIn, BD jobs, Job site,
 News Portal, Industrial Societies & Sites
 Facebook, Instagram
 Product brochure
 Other Research papers

1.5 Data gathering Method

The needed primary data has been collected from some questionnaire. And some data has been
collected with by conducting with M.A. Mukit Chowdhury Senior Manager (Strategic sales).
After the collection of entire data different approaches are widely used to analyze and organize
such as quantitative and qualitative approach.

1.6 Limitations
In this research I faced some obstacles that hindered me from obtaining the objective of my
project. In brief the problem that I faced are:

 Time and Money Constraints: Sufficient time and cost are the critical factors to collect,
analyze and summarize the findings of the study properly. But time and money
constraints are present which hindered the research significantly.
 Scattered Location: The location of the traders such as dealers, wholesalers and retailers
is so scattered which hindered to find them due to time constraint.
 Reluctant to Share Information: Most of the traders are very much afraid of disclose
the information about sales.
 Less Accessibility: Lack of access to published and reputed journals and other
institutional reports are also a major limitation in this study.
 High Privacy: Every organization has some rules and regulation regarding its privacy
policy and so does Elite Paint Bangladesh Ltd. Moreover financial information is

3
 regarded as more sensitive. That is why I failed to collect some market share related
information in different months which would have proved very effective in preparing
thereport.
 Possibility of Being Biased: Personal bias might have hampered the findings, as the
report is based totally on personal observation. I might have unintentionally missed any
important point that I should have covered in my project work.
 Lack of Experience: As a fresh graduate, I have much lack of expertise in making a
research report.
 Lack of Knowledge: Most of the traders and paints are illiterate or little educated.

4
 Chapter: 2
Overview of Elite Paint & Chemical Industries

2.1. Overview of Elite Paint & Chemical Industries Ltd

Elite Paint in Bangladesh

The paint industry is playing an important role in the infrastructure development of Bangladesh
by ensuring the protection of fixed assets and contributing to the GDP of Bangladesh.
Elite Paint is one of the leading manufacturers of paints and
varnishes in Bangladesh which was established in 1952 as the first-ever paint company in
Bangladesh. It started
its operation from scratch, with little capital, simple
machinery under the vision of the founder, Late
Mr. Serajuddin Ahmed. It launched its business
with a modest factory in Chittagong. Soon after
his graduation, the founder established a small
paint manufacturing factory by the name of
Elite Chemical Industries. It has been delivering
high-quality products at competitive prices all over
the country since its operation. It, now, is recognized
as one of super brand firms in this country. It produces
a wide range of paints and coating for a variety of different
industrial needs. Elite Paint‟s product portfolio
goes from economic to high performance,catering
to the demands of every user.
In 1964 Elite Paint introduced in Bangladesh, an
oil-based paint "Lucky Seven" which has been a
synonym of "rong" or paint for several decades.
They founded the "Alkyd Resin" unit plant in the

5
year 1985. In 1990 they started "Bontile" texture paint manufacturing. In the year 1997 Elite
Paint unveils "Elite Color World" later "Colorfest" (Color Tinting System) first ever in
Bangladesh. They achieved the ISO 2001-2015 and LEAD-SAFE certificate from SCS Global
and IPEN, food-grade certification for Epoxy paints from BUET, received the "Best Employer
Award" from World HRD Congress in the year 2017. Their powder coating unit started
operation in 2018. Elite paint entered the manufacturing of construction chemicals in 2019.

2.2 Company profile at a glance

Name of The Elite Paint & Chemical Industries Ltd

Company
Legal Form Private limited company
Establishment 1952
Chairman Mr. Feroz Ahmed
Vice-Chairman Mr. Salim Ahmed
Product Wide range of paints and coatings
Categories
Business Area  Decorative Paints (For Architectural Structure and Household
Feature)
 Industrial Paints (For equipment and other specialize
industrial structures)
 Marine Paints (For ships and offshore structures)
Logo

Website www.elitepaint.com.bd
Corporate office Syed Grand Centre, (Level 8 & 12) Plot # 89, Road # 28, Sector 7, Uttara,
Dhaka-1230, Bangladesh.
Chittagong Elite House, CDA Avenue, East Nasirabad, Chittagong, Bangladesh
office
Factory Elite paint & Chemical Industries Ltd. 92 BaizidBostami, I/A ,Nasirabad,
Chittagong, Bangladesh.

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2.3 Vision:
To be the leading supplier of paint and coatings to help enhance our nation‟s infrastructure by
providing the highest customer satisfaction and quality products. To be the most trusted and
reliable national paint manufacturer and supplier of quality paint products in the country which
facilitates and adds considerable value to its business in providing consistently high quality
products of international standards in the local market at a competitive price. In doing so
company shall endeavor to establish loyal and natural rewarding relationship with customers,
employees, associates and shareholders.

2.4 Mission:

To provide the highest quality paint and coating products to protect all kinds of assets, present a
variety of options and solutions to customers, and create an environment that drives innovation
amongst all involved:

 Prioritize customer satisfaction.

 High quality product. Competitive pricing.
 Optimal utilization of available resources at all times.
 Optimal use of information & technology.
 Continuous development & growth of human capital.
 Every action of every person to be sincere and profit oriented.
 Create environment that derives intelligence amongst all involved.

2.5 Focusing points of Elite Paint

1. Commitment to accomplish client fulfillment.
2. Dedication to forecast the firm as an ethical and also socially accountable one.
3. Dedication to proceed as the market leader with consistent sales growth, boosting
performance as well as developing new products consistent with client demands.
4. Guaranteeing continual renovation in operation through application of extremely
specialists and also devoted team, proper process management and also engagement of
the stakeholders.
5. Setting quantifiable target at suitable phases and also continuously monitoring them.

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2.6 Nature of the company
The core business of Elite Paint is manufacturing and marketing of paints, varnishes and coatings. It
produces a wide range of paints including architectural paints, industrial coatings, marine paints and
powder coatings. To improve consumer satisfaction, Elite Paint has also introduced end-user oriented
services such as Master Coat, Silk Delux, Lucky Seven, Elite Marine Paint, Tennis Court Paint, Salt Seal,
ILLUMINA, COLOR FEST, Quick Drying, Elite Care, first time ever "One Day Painting service " etc.

2.7 Achievement
There is a prevailing misconception that paint is a luxury product, but, in fact, it is a necessary item
without which, no construction work can be deemed complete. Since 1952, Elite Paint has been providing
longevity and protection to the country‟s assets and positively impacting the overall national GDP. Many
professionals including painters, contractors, and different retailers or dealers, started and built their
careers with Elite Paint. There are plenty of them who have thrived and reached the heights of success by
choosing their trust in Elite Paint‟s quality products. A host of renowned architects, engineers, and top
real estate developers and corporations confidently select Elite Paint for all their projects and structures.
Elite Paint is known for protecting and adding timeless beauty to many of the nation‟s famous landmarks.
Also, Elite Paint is the 1st company in Bangladesh to achieve Lead-Safe Certification. The company also
takes pride in its employees, some of which have been serving Elite Paint for over 40 years. Elite Paint
values all its employees and reates a culture that makes them feel like they are all part of a bigger family,
which they can always count on. As a result, the company is acknowledged as being one of the best
employers in the industry for many years now.

2.8 Organization Structure

Like all other manufacturing organizations, EPCL has a conventional organization structure.
Generally six board meeting are called in EPCL during a year where chairman of the board of
Directors presided over the meeting In EPCL several committees like the Audit committee, Risk
committee, Remuneration committee, Executive committee and the Purchase committee are
formed along with Managing Director (MD) and other Executive & non-Executive Directors.
These committees sit at least once a month to approve various proposals brought by the
management prior to implementation. All the proposals are initiated by the midlevel managers
and then forwarded to the Managing Director (MD) through the head of the divisions or
departments. The company has also a legal problems faced by the company and external auditors

8
to conduct audit activities of EPCL. There are four Non-Executive Directors, two Executive
Director and ten Managers work under the Managing Director (MD) of the company. Among the
ten managers three directly report to the Executive directors and other report to the Managing
Director. The Managers of each department monitor the work activities of subordinates, convey
top management decisions and provide necessary feedback to reach organizational goals and
objectives.

2.9 Major products of Elite Paint & Chemical industries ltd

Production of paints and coatings is the core business of Elite. Elite Paint produce a wide range
of paints including decorative/architectural paints, industrial coatings, marine paints and powder
coatings. The main products of the company are:

Major categories Brand name

Decorative Master Coat, Silk Deluxe, Rebelite Synthetic Paint,
Smooth Exterior
Industrial Paint PowerCoat Powder, Road Making Paint, Tennis Court Paint
Marine Paint Elite Marine Paint, Marelite Marine Synthetic
Metal Surface Paint Lucky Seven, Quick Drying
Wooden Surface Paint Synthetic Clear Vanish
Color Fest Paint COLOR FEST, Smooth Exterior

2.10 Promotion
Elite Paint has always been known to be creative as well as adaptive with all its promotional
efforts. During the pandemic, to come to community aid, they manufactured hand sanitizers and
donated them as well, which helped to address the crisis. Moreover, the company placed several
hand washing booths and points throughout the country too. To educate key players in the
industry, Elite Paint holds applicator promotions such as painter meets, dealer/shop meets, and
various informative seminars around the nation to educate them on product and application
processes. The company has recently developed the most unique platform in the industry for
painters to learn and benefit from easily. In the last three years, Elite Paint has trained more than

9
50 thousand union-level painters and organized many CPD for engineers in government sectors
to supervise painting works and their effectiveness. In addition, apart from constantly being
engaged with architects, who are a key part of the company‟s industry, Elite Paint also ensures it
helps to promote young artists all over the country by engaging in many local school-level art
competitions. Elite Paint also knows its rightful duty to its country and has recently helped to
complete the full coloring of over 550 schools in the rural areas of Bangladesh.

2.11 Brand value

Elite Paint & Chemical Industries Ltd. is considered to be the best in the business. It is a thriving
enterprise always striving to win through its services and is proud to offer good value for money
through its wide range of products aimed at a wide range of consumer needs. Elite Paint brought
many first of firsts products to Bangladesh and will continue to bring new innovative lines of
coatings adding value to Bangladesh's thriving economy

2.12 Recent Development

The thought of protecting valuable assets triggered Elite Paint to push the limits and go beyond
providing only painting solutions. They launched “Elite Care”, a complete range of construction
chemicals that provides solutions to all problems stemming from poor finishing work. Super
Strength, being the face of the range, is the only VOC-free
concrete admixture in the country. “Super Strength” is a
water-reducing and accelerating admixture which helps to aid
in curing concrete faster, resulting in tremendous time and
financial savings. The other superheroes of this range are
Super Seal, 3 in 1 Putty Mix, Salt Seal, Water Reducer, Super
Plaster 2k, and Super Latex. These products help ensure that buildings are well protected from
problems such as Damp, Crack Water Leaks, and any kind of concrete-related damage.

A new service, known as Super Application One Day Painting Service, the first of its kind as the
name mentions, is now being offered by Elite Paint to apartment owners so that they do not need
to take time out of their valuable schedule to look after paintwork in their homes. An expert team
goes into the apartment with all the equipment and completes the repainting job within 24 hours.

10
One of Elite Paint‟s most proud moments occurred during the midst of the pandemic, with
joining hands with Transocean Coatings to manufacture internationally certified High-
Performance Industrial and Marine coatings in Bangladesh.

Transocean Coatings, the Netherlands-based association with

the famous „smiling dolphin‟ as its trademark has a strong
presence in 60 countries all across the globe with a strong
focus on Marine, Protective, and Industrial Coatings. In view
of this collaboration, Elite Paint will be entitljed to
manufacture locally 250 global standard Marine, Protective
& Industrial Coatings certified by renowned class certifying
societies. Transocean Coating will also help Elite Paint build
up world-class service support for the specialized coating
segments in Bangladesh.

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 Chapter:3

Overview of the paint industry in Bangladesh and comparative

study

3.1. The size and market share of Paint Market in Bangladesh

Bangladesh's paint industry has been growing at a rapid growth rate for the past several years
riding on the increasing demand from the construction sector. Increasing urbanization and
diverse industrial applications are driving the expansion of the paints and coatings market. The
current market size of the paint market is Tk 4500 crore, which is expected to grow by 8 to 10
percent per annum as there is scope for an increase in consumption backed by economic growth.
As per data available, annual production of decorative paints is estimated at around 240000 tons.

Total Paint Market Size Tk 4500 crore

Decorative Paints 82%
Protective Coating 8%
Marine Paints 5%
Coil Coating 3%
Auto Refinish & others 2%

There are around 40 companies, both MNCs and local, registered with the Bangladesh Paint
Manufacturers Association (BPMA). The market is mainly dominated by MNCs holding 82% of
the total market share and local companies are competing for the remaining 18% of the market.
Berger Paints Bangladesh Limited is the current market leader in the paint industry of
Bangladesh with 54% of market share. Among the local companies, Elite Paint & Chemical
Industries Ltd. has the highest 6% market share .

12
 Others
Roxy Paints
Nippon Paints 7%
1%
3%
Rainbow Paints
4%

Elite Paints
6%
Berger Paints
Kansai Nerolac 54%
7%

Asian Paints
18%

In the current market scenario, while MNCs are expanding their operations, most local
companies are struggling to sustain due to a lack of long-term planning, innovation,
specialization, research, and funding.
The paint industry has been making significant contributions to the national economy. It
generates Tk 700 crore in revenue for the government each year, while employing over 100,000
people directly and indirectly.
There are significant growth prospects in the paint sector in Bangladesh, given that per capita
paint consumption in the country remains comparatively low at 1.1 kg. By contrast, in India, the
figure is 4.2 kg, while in China, it is nearly 9.0 kg. There is untapped potential in the domestic
paint market that companies and investors could explore in the coming years.

13
 3.2.Comparative Study of Top 12 Paint Manufacturers in Bangladesh

Name of Logo Establishment Nature Decorative Industrial Marine Other

the in Bangladesh of the Paints Paints Paints Paints
company company
Elite 1952 Local ✔ ✔ ✔ ✔
Paint private
Berger 1972 MNC ✔ ✔ ✔ ✔
Paints

Asian 2002 MNC ✔ ✔ ✖ ✖

Paints

Aqua 2001 Local, ✔ ✖ ✖ ✖

Paints Private
Moon 1984 Local, ✔ ✔ ✖ ✖
Star Private
Paints
Nerolac 2020 Holding ✔ ✖ ✖ ✖
Paints company

Rainbow 2016 Public, ✔ ✔ ✖ ✖

Paints RFL
Group
Nippon 2014 MNC ✔ ✔ ✖ ✖
Paints

Roxy 1953 Local ✔ ✔ ✔ ✔

Paints

Ujala 2003 Local ✔ ✔ ✔ ✔

Paints

Jotun 2021 MNC ✔ ✖ ✖ ✖

Paints

Al karim 1955 Local ✔ ✔ ✖ ✖

paints

14
 Chapter 4
Competitive strategies

4.1. Introduction to the concept of competitive strategies

A company‟s competitive strategy deals exclusively with the specifies of management‟s game
plan for competing successfully-its specific efforts to position itself in the marketplace, please
customers, ward off competitive threats, and achieve a particular kind of competitive advantage.
There are two biggest factors that distinguish one company‟s competitive strategy to another are:
1. whether a company‟s market target is broad or narrow and
2. whether the company is pursuing

4.2. Competitive strategies of Elite paint

A competitive advantage linked to lower costs or differentiation. Elite paint and chemical
industries Ltd generally focuses on two major strategies are:
1. Differentiation strategy
2. Focus strategy

4.2.1. Differentiation strategy

Differentiation strategies are attractive whenever buyers‟ needs and preferences are too diverse
to be fully satisfied by a standardized product offering. A broad differentiation strategy achieves
its aim when a wide range of buyers find the company‟s offering more appealing than that of
rivals and worth a somewhat higher price. Differentiation enhances profitability whenever a
company‟s product can command a sufficient higher price or generate sufficiently bigger unit
sales to more than cover the added costs of achieving the differentiation. A company can pursue
differentiating features from many angles: multiple features; wide selection and one-stop
shopping; superior service; high fashion design; quality manufacturing, technological leadership
etc.

15
  Product differentiation strategy

Product differentiation on the basis of size, shape, color shade, convenient size of their
paint container, plastic container and so on. It also maintain its better quality product,
finest color shade, durable & long lasting paint, and they are also responsible to the
customer wants and satisfaction. ELITE PAINT is the first ones who have brought the
Tinting machine to make different shades of color. They can make 1050 shades with this
machine. They brought many “first of first” products in Bangladesh.

The principal activities of the company throughout the year continued to be manufacturing and
marketing of liquid and non-liquid paints and varnishes and coating. Competing with other
painting company ELITE PAINT offers more than 50 products in their product line ranging from
decorative to industrial to marine. All their paint and coatings are produced in their factory
located in Chittagong. In the upper end of their segmented products they have brought new
product line.

Category of products Brand name

Decorative paints Master Coat, Silk Delux, Rebelite
Synthetic Paint, Smooth Exterior.

Industrial paints PowerCoat Powder, Road Marking

Paint, Tennis Court Paint, Rupali
Aluminum Paint.

Marine paints Elite Marine Paint, Marelite Marine

Synthetic

Metal surface paints Lucky Seven, Quick Drying

Wooden surface paints Synthetic Clear Varnish, Yacht

Varnish

Color fest paints COLOR FEST,Smooth Exterior

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  Service differentiation

Every company in the service market differentiates their service to be the best service company
and capturing most of the market share. EPCIL differentiates its service comparing to the other
competitors.These are:

Ordering ease: Ordering ease of EPCIL refers to how easy it is for the customer to place an
order to the company. They have redesigned their website for the convenient of the customer.
Customer can easily order through EPCIL‟s website. They also get an approximate cost of their
paint. They can see how their buildings will look after the paint in their website. They are first
ones in the market who have brought painting in a day for the pandemic. Customers can easily
order and receive its product with going to the market.

Customer consulting & delivery Service: With a view to bolstering customer satisfaction,
EPCIL has consultants and they provide their best suggestion to the customer. They deliver their
products within time at customer‟s preferable location. They provide consultant service more for
the decorative paint. For this type of paint customer gets the opportunity to have a meeting with
the design team. For any type of problem customers can communicate with them through the
hotline number. The field-level people try to solve customer‟s problem with their knowledge and
if they can‟t solve it then they hand it over to the experienced people. To optimize customer's
service, they have established Technical Service Department and provide necessary Technical
support to its customer's site / premises.

 Pricing differentiation strategy

Elite Paint's pricing strategy helps the brand/company to position itself competitively in the
market and achieve its business goals & objectives. Its products are priced higher than its
competitors due to the quality and standards maintained by the company.

Price strategy of ELITE PAINT can be spelled out in following manner. “Provide high quality
product at highly affordable price”. Determining appropriate pricing strategies is challenging and
dynamic in a renowned company because of deregulation, intense global competition and slow
growth in the market. These strategies include:

MRP Pricing: Elite Paint sets MRP which is a maximum price the final customer is to pay. It
includes everything including VAT, any other charges, fees etc. Company uses a premium

17
pricing strategy as they want to charge higher prices than their competitors for their products.
The goal is to create the perception that the products must have a higher value than competing
products because the prices are higher. The company is betting that the consumer will not
investigate to find out if the product is truly a higher-quality item.

Association Standard Pricing: The company maintains the price sets by the Pricing Association
in Bangladesh. Due to the fact all paint firms set their prices in accordance with their own rules
and regulations , paint companies are compelled to use this pricing method.

Flexible Pricing: The business employs this tactic where the final cost of a product is
negotiable. Flexible pricing does not only apply to the price of goods but services too. In fact, it
is a highly popular tactic in custom services. When demand rises or supply declines, prices go
up. Conversely, when demand declines or supply increases, prices fall.

Discriminatory Pricing: The business uses a price discrimination approach, in which business
charge various prices for the same product. The company adopts the price to ensure winning
competition by letting consumers purchase goods at a lenient rate. The tactic boosts sales for
brands, pushing out competition. When competition is high, the company tries to leave its
competitor behind. As a result, they keep the pricing as lenient as possible. According to the
customers preferences and demographic , vendors separate them into distinct groups during this
procedure.

4.2.2. Focus strategy

services that serve the needs of a particular competitive segment. It involves concentrated
attention on a narrow piece of the market and serves niche buyers better A focus strategy is an
integrated set of actions designed to produce or deliver goods or than rivals. This strategy
develops unique capabilities to serve that market segment where buyers have distinctive
preferences, special requirements, or unique needs.

The market is very competitive, especially in paint industry, Elite Paint is facing a lot of
competition with foreign companies. But in their 68-year journey, one thing they have managed
to always do is ensure that they have a strong R&D [research and development]. their R&D is
their main tool to fight competition and product range is so diverse that they have more products

18
than the majority of the paint companies in the industry. “Elite Paint is the first company to
introduce hammer paint in Bangladesh and we are still the number one brand in that market.
People are relying on our brand for that category. So, our R&D is their main weapon to fight the
competition.

Elite Paint's primary target consumers are construction company and contractors hence it
provides volume discounts for exclusive purchase of Elite Paint's products. By this strategy they
are keeping good consumer relationship with customers and also with the dealers by proving
discount on bulk purchase, annual prize giving etc.

By concentrating on satisfying their current loyal customers, Elite Paint aims to maintain its
position in the market and meet the specific requirements of its niche market segment. This
strategy allows them to differentiate themselves from the larger competitors like Berger Paint,
Asian Paint, and Kansai Nerolac, who are focusing on increasing their market share and targeting
a broader customer base.

4.3. Analyzing the competitive landscape

There are many paint industries in Bangladesh, Large companies as well as small companies.
Some of the competitors of Elite Paint are described below:

At present Bangladesh paint industry has 7 companies who have significant market share. Berger
Paints Bangladesh Ltd. is operating as the market leader and enjoying almost 54% of national
paint market share. The nearest competitor is Asian Paints who reside far below the market
leader in aspect of market share. The following Table shows the present market share of different
companies in paint industry of Bangladesh

Companies Market share

Berger paint 54%
Asian paint 18%
Kansai nerolac 7%
Elite paint 6%
Rainbow paint 4%
Nippon paint 3%
Roxy paint 1%
Others 7%
Total 100%

19
The country's paints industry continues to expand, with the multinational corporations (MNCs)
dominating the Tk 45-billion paints market, insiders said. Rapid urbanization across the country
and diversified industrial use are fuelling the growth of paints and coatings market, which has
registered 6.0 per cent annual growth in recent years.

There are around 40 companies, including local companies and MNCs, registered with the
Bangladesh Paint Manufacturers Association (BPMA).As per data available with the trade-body,
annual production of decorative paints is estimated at around 0.24 million tonnes.

Of the companies, Berger Paints alone holds the majority or some 54 per cent of the market,
followed by Asian Paints with 18 per cent, and Kansai Nerolac with 7.0 per cent. Besides, Elite
Paints is holding some 6.0 per cent market share, Rainbow Paints 4.0 per cent, Nippon Paints 3.0
per cent, and Roxy Paints 1.4 per cent.

Some of the competitors of Elite Paint are described below:

 Berger Paints Bangladesh Ltd: Berger Paints has been operating its business in
Bangladesh since independence. Over the decades, Berger has evolved to become the
leading paint solution provider in this country and has diversified into every sphere of the
industry - from Decorative Paints to Industrial Coatings, from Marine Coatings to
Powder Coating. To give a comprehensive and sustainable painting solution to the need
of the industry, Berger has invested more on technology and Research & Development
(R&D) than any other manufacturer in this market. It selects the raw materials from some
of the best known names in the world: Mitsui, Mobil, Dupont, Hoechst and Basf are a
few to name. With its strong distribution network, Berger has reached almost every
corner of Bangladesh. The sheer innovation and development drive is reflected on the
various products Berger has so far launched in this market.

 Asian Paints Bangladesh Ltd:Asian Paints Bangladesh Ltd (APBL) started its journey in
Bangladesh in the year 2002 as a joint venture with Confidence Cement to produce top class
range of paints for the discerning consumers of Bangladesh. Beginning with selling imported
paint, it quickly ramped up through its own plant in Gazipur. Now the company is engaged in
manufacturing & marketing a wide variety of products with its expertise and cutting edge
technology to satisfy all the painting needs of consumers in Bangladesh. Today APBL has

20
 become the 2nd largest paint company in Bangladesh. With a Presence across all 64 districts, a
500 plus supportive dealer network, it is able to meet the painting demand of all category of
consumers across Bangladesh. The Company aims to provide the best products to consumers in
most prominent segments. Apart from a wide range of decorative paints, there is a no. of popular
industrial products which have strengthened their presence in the Bangladesh paint market. Asian
Paints have been awarded "Superbrands" status since 2009 in Bangladesh and is seen as one of
the most respected corporate entities in the country

 Kansai Nerolac Paints (Bangladesh) Limited:Kansai Nerolac Paints (Bangladesh) Limited

is a subsidiary of Kansai Paint Japan. Kansai Paint is the 8th largest paint manufacturer company
in the world having operation in 80 countries in Asia, Europe, America and Africa. Kansai
Nerolac Paints already started its operation in Bangladesh under the umbrella of RAK Paints Ltd.
Kansai Nerolac Paints Ltd has acquired majority stake in RAK Paints Ltd. It has already applied
for name registration as Kansai Nerolac Paints (Bangladesh) Limited.Initially it has started
producing 7 decorative products in RAK Paints factory, within few months. It is now planning to
launch Powder coating & Auto coat in Bangladesh.

 Rainbow Paints: Rainbow Paints a concern of RFL Group was founded in 2016. Due to
emphasis in R&D, it is making global standard products. Through excellence in innovation,
sustainability and color development, it is providing paints and painting service in Decorative,
Industrial, Vehicles, and Construction markets. It produces high quality products in all categories
including Interior paints, Exterior paints, Anti-Bacterial Paint, Marine Paints, Enamel, Thinners,
Car Refinish, Wood Coating, Powder Coating, Floor Coating, Staving paint, Road Marking paint,
etc. It utilizes state-of-the-art technologies, machineries, production system and have developed a
strong distribution network. Its aim is to provide quality products and services at a reasonable
price. It provides Insta Painting service to homes and industries for fast and dust free painting
solutions

 Nippon Paints (Bangladesh) Private Limited Ltd:Based in Japan and with over 140 years
of experience in the paint industry, Nippon Paint is the number one paint manufacturer in Asia,
and fourth among the leading paint manufacturers of the world. Nippon Paint produces best
quality paint coatings for automotive, industrial and decorative sectors. Over the years, Nippon
Paint has perfected its products by means of breakthrough paint technology, with an emphasis on
innovation.

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 Roxy Paints Ltd: One of the oldest paint manufacturing companies in the industry of the
country Roxy is proud of being in a position to offer a wide range of paints and varnishes that
include distemper, interior paint, exterior paint, sealer and primers are of water based family.
Synthetic enamel paint and marine paint are of oil based group. Hammer, epoxy, chloro-rubber
paint, road and runway marking paint, tennis court paint are of industrial segment. Others are
cement paint, thinners, rust and paint removers. Making sure strong foothold in this dynamic
global market, Roxy has invested vigorously for its exclusive and modern R & D unit dedicating
itself equally at laboratory, plant and customer level to ensure constant quest for quality
improvement and research into its present and future product configuration and presentations.

 Jotun Paint: Jotun is the world‟s 9th largest paint maker that had total operating revenue of
19.6 billion Norwegian Krone, equivalent to over $2.286 billion. Jotun has been in the safe hands
of the Gleditsch family since the start. Jotun goes back to the Norwegian business entrepreneur
Odd Gleditsch Sen., who established the company in 1926.Jotun has continued to expand to new
markets. Jotun operates in four segments: Decorative Paints, Marine Coatings, Protective
Coatings, and Powder Coatings. Jotun, a Norway-based manufacturer of paint, coatings and
powder coatings, has started setting up a plant in privately-owned Meghna Industrial Economic
Zone with an investment of $5 million in 2021

 Rainbow Paints: Rainbow Paints a concern of RFL Group was founded in 2016. Due to
emphasis in R&D, it is making global standard products. Through excellence in innovation,
sustainability and color development, it is providing paints and painting service in Decorative,
Industrial, Vehicles, and Construction markets. It produces high quality products in all categories
including Interior paints, Exterior paints, Anti-Bacterial Paint, Marine Paints, Enamel, Thinners,
Car Refinish, Wood Coating, Powder Coating, Floor Coating, Staving paint, Road Marking paint,
etc. It utilizes state-of-the-art technologies, machineries, production system and have developed a
strong distribution network. Its aim is to provide quality products and services at a reasonable
price. It provides Insta Painting service to homes and industries for fast and dust free painting
solutions.

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4.4. Current market position of Elite paint
The paint industry in Bangladesh is primarily dominated by two market leaders, namely Asian
Paints and Berger Paints. These two companies together hold more than 60% of the market share
in the industry.Apart from these market leaders, Elite Paints specializes in industrial coatings and
marine segments as Niche market.

4.4.1. The market of Elite paint

The journey to be Super brands Bangladesh for three times in a row definitely roots back
to Elite Paint‟s rich heritage of industrialization of agricultural Bangladesh and introducer
of first of many firsts. Elite Paint is the only local paint & coatings manufacturer in
Bangladesh with the line of Decorative, Industrial, Marine, Powder Coatings,
Construction Chemicals and Road Marking Solutions to protect the country‟s National
Assets for the last 70 years. The company‟s leadership has now entered into its third
generation, as the three directors and grandchildren of Elite‟s founder take on the helm of
the company.

The total size of the paint industry in Bangladesh is estimated at $471 billion in 2020.
The decorative segments of the market accounts for a massive 83.42% of the total
industry, whereas industrial, marine segments contribute 12.17%, and 4.41%,
respectively.

The major focus of the companies, operating in the industry, is towards decorative
segment. Only a few of the companies has its product offerings in industrial and marine
segment. All the competitors are concentrating their best efforts for carving out their
share of the pie in the decorative segment of the industry. Elite market share in the
synthetic enamel category is increasing gradually. As this product is accountable for the
major share of the paint market, its continued success will result in significant growth of
the overall market share of the company. This will also enable Elite to battle its
competitors by weakening then in such a strategically important segment.

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  Elite paint has technical collaboration with DNT,of Japan and croen paint.
 To optimized customer service they established Technical service department and
provide necessary technical support to its customers site.
 Due to result oriented quality product and its dedicated services to its customers,
Elite was the market leader in Bangladesh paint market from early seventies till
the nineties.

4.4.2. Transforming into a Trusted Super Brand

Elite Paint is known as “Ronger Raja” or the King of Paints, given that it has unbeatably
been the best local paint brand since its establishment. Hence, at Elite Paint, they always
hustle to keep their integrity intact. Over the years they have been nurturing a wide range
of products totaling a striking 200 now. Their prime, fast-selling products are readily
available in the market. They have specialized in order-based products which can be
manufactured at the factories within short notice. Not only do they bring color to drab
walls, but also manufacture all forms of protective paints which are being used
nationwide.

Quality Compliance & Certifications

With a vision of maximizing customer satisfaction, Elite Paint has always remained
cautious about quality compliance. Over the years, the company has received
numerous recognitions from multiple international quality control organizations. A few
of the significant ones are mentioned as follows –

•ISO 9001:2015Certification – Elite Paint was the first among all paint companies in
ISO 9001:2015 Certification – Elite Paint was the first among all paint companies in
Bangladesh to receive the ISO 9001:2015 recognition from the International Quality
Control Organization (“Elite Paint receives ISO”, 2017). This ensures the company can
produce paint products that meet customer and regulatory requirements.

Lead Safe Paint Certification – Elite Paint is the first paint company in Bangladesh to
receive the Lead Safe Paint certification from the International Pollutants Elimination

24
 Network (IPEN, 2017). This means that Elite Paint is committed to minimizing the use of
lead in their products to reduce human exposure to lead, which often causes
impulsiveness, aggression, and impaired memory among children, according to
World Health Organization (WHO, 2011).

Transocean Coating Certification – As reported in The Business Standard (“Elite Paint

strikes deal”, 2021), Elite Paint recently collaborated with Transocean Coatings to
produce internationally certified marine and industrial coatings in Bangladesh. This
certification validates the company‟s expertise in producing marine paints for ships
and offshore.

Achieved superbrand award 3rd time in a row- According to The Daily Star (“40
recognized,2020),Elite Paint was nominated among the top 40 brands recognized as the
Suprerbrands of Bangladesh .
Superbrands”, 2020), Elite Paint was nominated among the top forty brands recognized
as the
4.5. Competitive market position of Elite Paint
4.5.1. Understanding strategies for market followers and niche players
 Elite Paint is also not classified as a market follower since they are not actively pursuing
strategies to increase their market share. Market followers typically observe the actions of
market leaders and imitate or follow their strategies to maintain a competitive position.
 Elite Paint can be classified as a market niche player. They have products in almost every
segment but are primarily focused on satisfying their current loyal customers rather than
expanding their market share. By catering to a specific segment and meeting the unique
needs of their existing customer base, Elite Paint aims to survive and maintain a niche
position in the paint industry.
 Ideal market niche is big enough to be profitable with high growth potential and has little
interest from competitors.
Key to market niching is specialization
o Market
o Customer

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 o Product
o Marketing mix

4.5.2. Developing strategies for market niche player

 Elite Paint has a diverse product portfolio covering various sectors and
 has a loyal customer base in some sectors.

In this case, the company may be following a market focus strategy.

Elite Paint and Chemical Industry's focus strategy revolves around the industrial and marine
segments. By concentrating their efforts on these sectors, the company aims to establish itself as
a leading supplier of coatings and chemicals, catering to the unique needs of businesses
operating in industries such as manufacturing, construction, and maritime.

Elite Paint has always been and still is the leader in the market. By launching new ideas,
products, and solutions to the market on regular basis, the company has built on its initial
success. Their paint lines extend towards a gamut of industries including the leather industry. All
the products with special anti-algal and DPUR additives are possibly the best paint that money
can buy for tropical climates like that of Bangladesh. To offer vibrant shades in an economy
range, Elite Paint also introduced Distemper, Plastic paints, and Enamel separately for tinting.

Elite Paint has started its journey in the Construction Chemical sector by launching its newest
product called "Super Strength Multipurpose Admixture". It is an ASTM C494 Type E Water
Reducing and Accelerating Admixture which helps to aid in curing concrete faster resulting in
tremendous time and financial savings for their valued clients and clearly leading the market.
Being a Bangladeshi company, commitment to the country and its people is Elite Paint's top
prioritv. Elite Paint has become a market innovator in every specialized area like marketing,
sales, production, promotion, and event management; this is an obvious demonstration of their
commitment to the people. Today, the company is recognized for unleashing an industrial
revolution in Bangladesh.

26
The key products of Elite Paint that hold the major market share are :

 Decorative sector
Decorative paint : Interior
 Plastelite Plastic Emulsion:
 It is a high quality acrylic based plastic emulsion paint for interior.
 This paint is suitable for all smooth plastered surfaces, concrete brickwork, hard
and soft boards etc.
 Brush, spray and roller are used for application.
 The paint should be thinned with clean water before application. Available in 40
shades & 20 shades as per shade cards.

 Rebelite Synthetic Paste Distemper:

 It is synthetic paste distemper (SPD).
 Basically it is an economical emulsion for interior space.
 It requires equal volume of clean water to achieve the desired consistency to get
the finish.
 Available in 36 shades as per shade card.

Decorative paint : Exterior

 Master Coat premium:
 Master Coat is a water based high quality weather proof Exterior Emulsion Paint.
 Applied with long haired brush and roller.
 It requires under coat of wall sealer and wall putty to create a bed for Master Coat
to achieve the desired finish.Available in 40 shades as per shade card.

 Elitecem :
 Waterptoof cement paint. Elitecem is cement based solid paint for protection and
decoration of exterior walls of buildings.
 It is painted on surface with long hair brush.
 It is a very economical exterior paint. Available in 17 shades as per shade card.

27
  Lucky seven super-gloss synthetic enamel:
 Lucky Seven Super-Gloss Synthetic Enamel is a high qualitydecorative enamel
pain.
 Since it is based on alkyd resin, therefore is a good resistance to adverse weather
condition and fungus infection.
 Metal, steel, wood, cane is usually painted by this durable paint such as for
railway coaches, buses, lorries, oil tankers, as well as for doors, windows,
signboards, furniture, fixtures and various other household articles.
 Available in 32 shades as per shade card.

 Industrial sector
Elite Paint offer industrial finishes, high protective coatings, industrial primers and other
industrial products for the requirement of industrial paints. These paints are long lasting and
prepared in a special method to protect industrial equipment, structures from heat, swatting and
bulging. Some of the prominent clients of Industrial Paints are Meghna Group, Pran RFL,
Radisson Hotel, Pan Pacific Sonargaon Hotel and Bangladesh Railway.

Top line products in industrial sector that hold majority of market share:

 Hammellite Hammer Finish:

It is an industrial solvent base paint, used on metal surfaces especially on iron safes and etc.
It is applied by spraying it give a scatter blotted texture. Available in Green, Blue & Silver
shades. It is one of the top best selling product of Elite Paint.Ideal for protection and
decoration of all Ferro structures and non-absorbent surfaces

 Powercoat Powder Coating:

Made of special resigns and other ingredients that imports tough, long durable and highly
resistant to aggressive environment and weather condition.

 Road Marking Paint

Resistant to water permeability, shock, abrasion and non-bleeding bitumen formulated for
traffic lines sign marking on road surfaces.

28
  Tennis Court Paint:

A specialized Elite product meant for making the court colorful.

Prominent clients in industrial sector :

They have successfully maintained cooperation with reputable clients. Some of the prominent
clients of Industrial Paints are:

Bangabhaban, Pan Pacific Sonargaon Hotel, Hotel Radisson Blu Water Garden, and Bay View,
Balaka: Biman Bangladesh Airlines Headquarters, Meghna Group, and Bangladesh Railway.

 Marine sector
Bangladesh is a riverine country with a large no. of big & small rivers and their tributaries.
Moreover, it has a large sea coastal area with Bay of Bengal. Because of this facility a good
proportion of transportation is being done by sea & river. Bay of Bengal is well known for its
fish reserves. Our fishing trawlers & boats are engaged in fishing in Bay of Bengal. We have two
sea-ports and a good no. of river ports. A good no. of ships are coming to and going out from
these seaports. Large no. of sea-coasters, launches, trawlers, barges, and country - boats are
plying everyday through sea-coasts and rivers.

So huge activity could be seen in sea-ports, river- ports, dockyards & dry-docks. Besides there
are shore and off-shore constructions, Pontoons, Buoys, oil/gas rigs, underground or underwater
pipelines. To cater to the need of maintaining these vessels & other constructions EPCIL has
introduced a wide range of Marine paints suitable to withstand rigorous marine weather both at
sea & sea-coasts and also at river & river-ports. EPCIL is here to help customer‟s choose the
kind of protection they need for their belongings. Corporate buyers like Bangladesh Navy,
Western Marine, Chittagong and Khulna Shipyards Ltd. and many small and medium shipping
and shipbuilding companies rely on “Marelite” marine paint brand of Elite Paint.

29
Two types of Marine Paints that EPCIL uses for its customers

 Elite Marine Paint

A solvent based metal finish that offers clean shades and excellent gloss
 Marelite Marine Synthetic Enamel Paint

A solvent based super gloss paint based on high quality alkyd resin

 Transocean coatings

Elite paint is introducing globally certified high-performance Transocean coatings in the

marine market of Bangladesh.

One of Elite Paint‟s most proud moments occurred during the midst of the pandemic, with
joining hands with Transocean Coatings to manufacture internationally certified High-
Performance Industrial and Marine coatings in Bangladesh. Transocean Coatings, the
Netherlands-based association with the famous „smiling dolphin‟ as its trademark has a
strong presence in 60 countries all across the globe with a strong focus on Marine, Protective,
and Industrial Coatings. In view of this collaboration, Elite Paint will be entitled to
manufacture locally 250 global standard Marine, Protective & Industrial Coatings certified
by renowned class certifying societies. Transocean Coating will also help Elite Paint build up
world-class service support for the specialized coating segments in Bangladesh and serving
the market from 2022.

4.5.3. Otherniche sector

Elite Care
Elite Care is a complete range of products that cares about you constructions, buildings, and
walls and gives you the right solution. Elite Care is a combination of hi-tech products specially
designed to address your problems that may occur at the time of construction or poor
maintenance. Every product is formulated using specialized chemicals and advanced technology

Some products are composed of Silica compound and absolutely zero VOCthat brings down
setting times of concrete and leading to early high and ultimate increased strength of concrete.

30
Some waterproofing products are meant to deal with the basic problem of dampness, ugly stains,
paint peeling, crack-bridging etc.

Super Application

Super Application takes hassle of painting by ensuring the expected quality within unexpected
timeline of 1 day also called as One-day Painting Service. They offer this service for homes and
businesses, including offices, retail properties only in interior section. With decades of
experience and a strong commitment to customers, Elite Paint is introducing SUPER
APPLICATION – One day Painting Service which allow customers to enjoy a truly dust-free
complete painting solution within only 24 hours.

Building Customer Loyalty

Elite Paint believes in the concept of customer satisfaction, a notion that has helped them to build
their brand loyalty, surviving and thriving in the industry.

 Their commitment to delivering superior products,

 exceptional service, and maintaining long-term relationships with existing customers.

Their main customers are their dealers; they have more than 1,500 dealers all over the country.
And we have depots in pretty much all the districts in addition to two depots in Dhaka and one
depot in Chattogram.

They also have depots in Khulna, Rajshahi, Bogura, Barishal, Rangpur, Faridpur, Cumilla, and
Sylhet. These are the areas where we have our depots and we are serving our dealers from there.

Then they also have their corporate customers:

The big private sector organizations like Abul Khair Group, Meghna Group, and United Group
who have trust and faith in their products, service, and solutions and have been doing business
with them for many years and they also have their government organizations like Bangladesh
Army, Bangladesh Navy, and Coast Guard who are buying paints from them through tender on a
yearly basis and they have been serving them for decades and their business development
department which is continuously maintaining relations with government engineers of entities
like PWD, LGED, HED, EED, and Roads and Highways. So, with all these organizations they

31
are maintaining their relations with the engineers so that they can get a good chunk of the
government business that‟s going on.

Elite paint is actually in the middle of going through a BMRE expansion in their Chittagong
factory so that they can triple their production within one year and following that they already
have a seven-acre land in Gazipur which has been allocated for a future second unit factory in
Dhaka. They are working a lot on improving their internal process as well.

Elite Paint is actually the country‟s brand. People can relate to it and it‟s the first paint company
in Bangladesh. It‟s a local company that is giving service and quality like a multinational and
people will not find this diversification that they have in a lot of local paint companies in other
countries.

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 Chapter 5: Marketing Mix

5.1: Product

5.1.1 Product Development Process of Elite Paint:

The key product strategy for Elite Paint is to produce all most every type of Paints as per the
local requirements. So, it is important for Elite Paint to continuously develop product by
understanding the needs of market. For this purpose, Elite Paint has its own R&D Department
situated in Chittagong. Elite Paint have well-equipped laboratory in its factory with chemists and
Specialists of this field. Elite Paint has technical collaborations with DNT of Japan & Crown
Berger of UK several other world renowned companies which increase the company‟s technical
strength. Recently, it has started producing marine paint for ocean going vessels in collaboration
with Transocean Coatings of Netherlands.

5.1.2 Elite Paint Production Process

Elite Paint sources the majority of its raw materials from the top suppliers around the world.
Furthermore, Elite Paint manufactures ingredients on a limited basis. Elite Paint keeps a stock of
raw materials up to a certain level in order to meet production demands. Paint is manufactured in
the company's sole factory in Chittagong.

Products marketed to individual clients are manufactured first and then distributed through
various channels for sell.

However, for the majority of industrial products, the manufacturing process begins only once the
company obtains an order from an industrial customer. It lowers the risk associated with shelf-
life. The same procedure is followed when creating customized products for specific customers.

33
Fig: Paint Manufacturing Process
When production process starts, some raw materials goes directly and some goes after some
prior processing into the thinning tank where the paint is finally manufactured. The functions of
quality control and quality assurance are performed twice throughout process: 1.During the
Production Process 2.Immediately after Production. If the quality of manufactured paint reaches
the standard, it undergoes the filling machine which pours the paint into different sizes of canes.

5.1.3 Elite Paint Product Segments

Generally, the product segment of paint sector can be divided into three categories. Each of the
categories has sub-categories as given bellow:

Water Base

Decorative Oil/ Solvent

Paint Base

Powder Base

Oil/ Solvent
Product Base
Segments Industrial
Paint
Epoxy Base

Oil/ Solvent
Base
Marine Paint
Epoxy Base

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1. Decorative Paint

I.Interior

 Rebelite Synthetic Paste Distemper

 Illumina Glitter
 Illumina Top Coat
 Bontile Texture Paint

II.Exterior

 Master Coat (Premium Quality „weather proof Coating

 Smooth Exterior
 Supreme Elitecem

2.Industrial Paints

 Industrielite
 Hammelite Hammer Finish
 Road Marking Paint
 Tennis Court Paint
 Swimming pool paint
 Hot Melt ( Thermoplastic Road Paint)

3. Marine Paint

 Elite Marine Paint

 Marelite Marine synthetic Enamel Paint (Several Types)

4. Elite Car

( construction chemicals and products for problems that occur during construction or because poor
maintenance )

 Super strength
 3 in 1 putty

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  Floor paint
 Pu Roof coat
 Super Latex
 Salt seal
 Floor Mask Self Leveling Epoxy

5. Wooden Surface Paint

( used for both decorative and industrial purposes)

 Synthetic clear varnish

 Yacht Varnish
 Supreme copal varnish

6. Metal Surface Paint

( used for both decorative and industrial purpose

 Lucky 7
 Quick drying

7. Undercoats

 Wallelite
 Thinner
 Pullelite
 Thinner ( 14 types )
 Multipurpose putty white
 Mastercoat Exterior sealer
 Aclose Sealer

Elite Paint has a POS Color Tinting System named Color Fest which offers a wide spectrum of
shades. This system was first introduced in Bangladesh by Elite Paint in 1997. This system is
based on the idea that, color varies from person to person, while base colors remain the same.
Under this Brand which have a tagline of „Color beyond Colors‟, Elite Paint offers six decorative
products. They are, Silk Deluxe, Plastic Emulsion, Synthetic Paste Distemper (SPD), Master
Coat, Smooth Exterior Paint, & Synthetic Enamel Paint. There are 1050 shades for each product.
This feature gives an opportunity for customers to go beyond the basic colors and find one

36
according to their preferences in mind from a wide variety. Elite paint has 280 outlets of „Color
Fest‟ around the country. Even there are so many shops that are endorsed by other paint
companies but they use „Color fest‟ tinting system.

5.2: Price

In Elite Paint's pricing strategy, the company provides high-quality products at highly affordable
prices. The primary objective is to ensure customer satisfaction by offering products that meet
quality standards while remaining competitive in terms of pricing within the industry. Elite
Paint's pricing approach encompasses a combination of cost-based pricing and consideration of
competitor prices.

To determine the final price, Elite Paint employs a cost-based pricing strategy, which involves a
comprehensive analysis of the total cost of manufacturing the paint. This analysis includes raw
materials, labour, overhead expenses, and other associated costs. A profit margin is added to the
cost to arrive at the final price. This strategy enables the company to cover its production
expenses while generating the desired profit.

In addition to cost-based pricing, Elite Paint also considers competitor prices. Given the highly
competitive nature of the paint industry, where most companies offer similar products, Elite
Paint must offer products at a competitive price point. As paint brands are not visible once
applied to surfaces, customers are often unwilling to pay a significant premium for brand names
alone. By factoring in competitor prices, Elite Paint can position its products strategically to
remain attractive and compelling to its target customers.

Moreover, Elite Paint incorporates commissions and discounts for its dealers and retailers as an
integral part of its pricing strategy. These trade partners play a vital role in promoting and
ensuring the sale of the company's products. Elite Paint supplies its products to dealers and
retailers at discounted prices, with the specific amount of commission or discount varying based
on the performance of each dealer or retailer. The more sales a dealer can generate, the higher

37
the commission or discount they receive. It incentivizes dealers and retailers to actively promote
and sell Elite Paint's products.

When selling directly to industrial buyers, Elite Paint negotiates prices based on factors such as
customization requirements and volume quantity of products. This approach allows the company
to tailor pricing to meet industrial customers' specific needs and demands, fostering mutually
beneficial relationships.

Regarding pricing structure, Elite Paint's products generally have three price tiers: Factory price,
Dealer Price, and Retailer price. Each tier reflects the different stages of the distribution process
and the associated costs and discounts relevant to that particular stage.

In summary, Elite Paint's pricing strategy is characterized by its commitment to providing high-
quality products at highly affordable prices. By incorporating cost-based pricing, competitor
analysis, trade partner incentives, and flexible pricing for industrial buyers, Elite Paint creates a
comprehensive approach that aligns with customer expectations, fosters strong relationships with
partners, and positions the company as a reliable and customer-centric player in the paint
industry.

MRP Pricing

Maximum Retail Price is basically a subject of Consumers‟ Right Protection Act, 2009. So far
my knowledge goes, as per Consumers‟ Right Protection Act, 2009, there is a list of goods on
which MRP and contents require to be written on the packet or bottle or on it visibly. Elite Paint
sets MRP which is a maximum price the final customer is to pay. It includes everything
including VAT, any other charges, fees etc. Company uses a premium pricing strategy as they
want to charge higher prices than their competitors for their products. The goal is to create the
perception that the products must have a higher value than competing products because the
prices are higher. The company is betting that the consumer will not investigate to find out if the
product is truly a higher-quality item. Marketing managers want consumers to believe that the
brand name by itself is enough to assure them that the product is better than the competition's
product.

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Association Standard Pricing

The company maintains the price sets by the Pricing Association in Bangladesh. Paint companies
are forced to follow this pricing strategy as all of the companies of paint market set the price
together by their rules and regulations.

Flexible Pricing

The company follows this strategy in which a product‟s final price is open for negotiation.
Customers and sellers can get together and try to alter the price i.e. either knock it down or push
it up. Flexible pricing does not only apply in goods but services too. It is, in fact, a very common
strategy in tailor-made services.

Discriminatory Pricing

The company follows Price Discrimination Strategy whereby firms sell the same products or
services at different prices in different markets. The company adopts the price to ensure winning
competition by letting consumers purchase goods at a lenient rate. The strategy helps brands to
sell more, leaving their rival brands behind. When competition is high, the company tries to
leave its competitor behind. As a result, they keep the pricing as lenient as possible. In the
process, the sellers divide customers into different segments depending on their demographics
and preferences. Furthermore, they fix separate prices to be paid for a product or services
purchased by those groups.

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5.3: Place and Distribution
The place element, also known as distribution, is a crucial component of the marketing mix for
Elite Paint, contributing significantly to its success and survival as a significant player in the
industry. Elite Paint has meticulously focused on establishing an extensive distribution network
to ensure nationwide coverage and reach customers in every corner of the country. With over
13,000 dealers and retailers across Bangladesh, the company has strategically positioned itself to
distribute its products effectively.
To facilitate the distribution process, Elite Paint has set up ten sales depots located in different
districts of the country, namely Dhaka North, Dhaka South, Chittagong, Rajshahi, Comilla,
Barishal, Khulna, Bogura, Rangpur, and Sylhet. These depots are pivotal points where products
arrive from the company's factory in Chittagong. The strategic placement of these depots enables
efficient and timely delivery of products to the dealers and retailers, ultimately reaching the end
customers.

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Elite Paint employs various distribution channels to reach end-users, ensuring the availability of
their products in the market. These channels include:

1. Depots-Dealers-Retailers-End Users: In this channel, products are transported from the

depots to authorized dealers and retailers, who act as intermediaries between Elite Paint
and the end users.
2. Depots-Dealer-End Users: This channel directly connects the depots and authorized
dealers, who then distribute the products to the end users. By bypassing the involvement
of retailers, Elite Paint can streamline the distribution process, enabling efficient delivery
to the end customers.
3. Depots-End Users: Elite Paint also directly serves the end users by delivering products
from the depots to their desired locations. This channel eliminates the involvement of
intermediaries and allows for direct interaction between the company and the customers.
4. Depots-Dealer-Contractors-End Users: This distribution channel involves the
collaboration of authorized dealers, contractors, and end users. Elite Paint supplies its
products to the depots and distributes them to dealers. These dealers, in turn, establish
partnerships with contractors specializing in painting projects. The contractors play a
crucial role in recommending and applying Elite Paint products to meet the specific
requirements of the end users engaged in construction or renovation projects
5. Depots-Dealer-Retailer-Contractors-End Users: This channel caters specifically to
contractors involved in painting projects. Elite Paint supplies its products to dealers and
retailers, who further collaborate with contractors to fulfil the requirements of end users
engaged in construction or renovation projects.
6. Depots-Corporations: The implementation of the Depots-Corporations distribution
channel by Elite Paint signifies its commitment to serving the corporate sector, industrial
buyers, and government entities. Through this channel, Elite Paint aims to provide cost-
effective solutions and establish strong relationships with corporate clients, enhancing its
competitive edge in the market. By bypassing intermediaries and directly supplying
products to corporations and large organizations, Elite Paint can efficiently meet the
substantial painting demands of commercial buildings, offices, and other corporate

41
 entities. This approach not only streamlines the distribution process but also benefits the
buyers by reducing the commissions typically associated with intermediaries.

Moreover, Elite Paint recognizes that the distribution approach for decorative paints differs from
that of industrial products. While decorative paints are primarily sold through dealers and
retailers, the company officials directly interact with customers regarding industrial products.
This personalized approach ensures effective communication and understanding of customer
needs in the industrial sector. This distinction between distribution approaches for decorative
paints and industrial products further highlights Elite Paint's customer-centric approach and
adaptability to different market segments.

5.4: Promotion
ELITE PAINT is a homegrown company. So, it is quite difficult to directly involve in
advertising because of a private enterprise. ELITE PAINT undertakes promotional activities to
introduce their decorative paint with their target customers. ELITE PAINT tries to sell its
product through various types of promotions.

 Advertising
Elite Paint presents its product attractively by the help of advertising in different media. They
recently launched a newspaper called “RONG ER RAJA ELITE PAINT SHONGBAD” where it
publishes its different social activities which helped consumer to know about company‟s relation
with society. Except that ELITE PAINT publishes various ad promos on YOUTUBE, LinkedIn,
and Facebook. They also publish magazine book which are delivered to the fellow Architects,
Engineers, Contractors, Dealers, Painters to provide enough knowledge about certain product.
 Sales Promotion
Elite Paint follows some tools for Sales promotion as given below:
1. Advertising specialties
ELITE PAINT provides some useful printed material gift to customer namely, shade card,
calendar, their own designed notebook, diary, desk calendar.

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 2. Free Goods
ELITE PAINT provides gift voucher on some certain amount of purchase in certain dates.
ELITE PAINT also giftessuch as T-shirts, pens to its trade partners
3. Allowances
In case of a large quantity purchase ELITE PAINT offered 15% off of the list price of its product
4. Dealers sales contest
Every year ELITE PAINT fixes annual sales target for its dealer, against which sales bonus &
sales commission are declared. By this means ELITE PAINT puts a competition in place among
dealers & promotes their sales.
5. Point of purchase
ELITE PAINT arranges point of purchase in order to display the company name. In this case it
gives attractive signboard for the dealers, which are put top of dealer‟s shops name.
 Attractive packaging
ELITE PAINT provides attractive packaging. All of the elite paint products come through an
attractive packaging for promoting their product.
 Public relation
ELITE PAINT helped Government financially by donating a lump sum amount for Rohingya
Refugee Camp & Flood affected people. ELITE PAINT hosted technical seminar around country
wide where they train up the Painter about product & painting knowledge. Other than that,
ELITE PAINT does Campus recruitment program for young generations, which help adolescents
to start up career in a pre-owned company. Also, ELITE PAINT tries to maintain a good
relationship with their stakeholder & investor by greetings them on their achievement. ELITE
PAINT sponsored an event called “Climate Change Action” on World Architect Day.

 Direct marketing

As now a digital era, ELITE PAINT also uses direct marketing in their business. They directly
mail or do a video conference or virtual presentation with their prominent consumer. They try to
maintain good relationship with customer through internet such as sending greeting on
Facebook, appreciate one‟s achievement on LinkedIn. Except above discussion ELITE PAINT
also involved in some societal program such as they participate in Bangla New Year program
with Chittagong Fine Arts Institution. They also sponsor many events throughout the country.

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 Chapter: 6
Marketing analysis
6.1 Introduction:
Porter‟s five forces analysis points to the strength and weakness of any industry by
analyzing the five competitive forces contributing to the present situation.

6.2. Understanding the Porter’s five forces model

6.2.1. Rivalry among existing competitors
Elite paint has to face fierce competition in the paint industry of Bangladesh. There are so many
paint companies and each of them has their consumer share in the market. This sort of
competition among the existing firms makes it more rivalry as all them are competing for the
same customers with same products. Though Elite Paint has hold e good market share but others
are trying to capture a portion of their loyal customer. Paint market is a growing market so other
firms have the chance to increase their revenues by taking necessary plans. Paint companies
compete with the same products so rivalry increases. The level of product differentiation is
extremely low for the paint firms in Bangladesh. Elite paint has created a competitive advantage
by providing high quality products and latest technologies. In paint industry switching cost from
one product to another is low which intensifies the competition.

6.2.2. Threat of Entry

In Paint industry of Bangladesh, it is not only rivalry that poses a threat towards Elite paint; the
possibility that new firms may enter the industry also affects competition. The threat of
entry barrier in paint industry is high as government does not create any sort of barrier in this
industry. Paint companies sell similar sort of paint in the market bearing different brand name.
So any company with huge investment can make an entry in this industry. The technology that
the paint companies use is costly and requires high volume of sales to sustain the fixed costs. So
it will create difficulty for the new entrants.

6.2.3. Threat of Substitutes: While the threat of substitutes typically impacts an industry
through price competition, there can be other concerns in assessing the threat of substitutes. Paint
Products do not have many substitutes. So the threat of substitute products for Elite paint is not
high. But competitors may bring more innovative products.

44
6.2.4. Bargaining Power of the Buyers: The bargaining power of customers is also described as
the ability of customers to put the firm under pressure, which also indicates the customer's
sensitivity to price changes. The buyer power is high if the buyer has many alternatives. Elite
paint has a degree of degree of dependency upon existing channels of distribution which are
based on local available store. Because of low switching costs of paint, buyers do not make
impulse buying decisions and hence it gives them a chance to bargain before buying. Customers
have more option in the paint so their bargaining power is high. Buyers can easily bargain as
they have market information about other firms available in the paint industry. Low switch cost
provides buyer the option of alternating his choice regarding paint brand and tastes.

6.2.5. Bargaining Power of Suppliers: The suppliers in the paint industry are described as the
suppliers of raw materials, components, labor and services. In paint industry supplier switching
costs are relatively higher as there are not many firms. The suppliers of top quality raw
materials would have higher bargaining power as it has an impact on the cost of finished
paint item who can provide quality raw materials for many of the ingredients. Elite paint
uses world‟s no 1 raw materials from Germany, UK, France, Singapore and Japan. Hence their
bargaining power of them is high.

6.3. Impact of Porter’s Five Forces Model

Factors Impact
Rivalry among existing customers High
Threat of entry Low
Threat of substitutes Low
Bargaining power of buyer High
Bargaining power of supplier High
Figure: Impact of Porter’s Five Forces Model

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6.4. SWOT Analysis
To formulate the marketing & overall strategies of EPCIL, the management first analyze their
mission and objective and then use the steps of SWOT analysis to find out the strength,
weakness, opportunities and threats and then formulate and execute the main strategies for the
company.

46
 Strengths Weaknesses

 First ever paint company in Bangladesh.  High cost for importing raw materials
 Achieved ISO 2001-2015  Backdated facilities
 “Best Employer Award” from World HRD  Dependency on foreign manufacturers for
Congress in 2017. gaining raw materials.
 Food grade certification for Epoxy paints  High production cost
from BUET  Limited promotional activities
 Strong Distribution Network  Local company
 Good reputation among customers  Low market share
 Achieved “Superbrands” Award 2022.  Fewer incentives for dealers, contractors,
 Lead-Safe certificate from SCS Global and painters and others.
IPEN in 2020.  Weaker technological know-how
 R&D department  Technical barriers
 Strong portfolio: Varieties of Products.  Low brand awareness
 Best quality product with competitive price.
 Qualified employees
 Rich experience on Bangladesh Paint
Market.
 Partnership with TransOcean Coatings of the
Netherlands

Opportunities Threats

 Vast and fast growing market  Fierce competition in Bangladesh market

 Cheap and abundant labor force
 New innovations
 Arrival of new technologies
 Diversification with the help of Brand Value
 Moving into new market segments
 Popularizing economic product at remote
place
 Local and foreign investment in
infrastructure development
 High growth of lifestyle and decore
awareness
 Economic recession
 Price fluctuation
 Corrupt practices by the competitors
 New laws and regulations
 Emergence of substitute products
 Existing and new competitors
 Technological threat
 Changes in customer preferences
 Raw materials scarcity

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 Chapter:7
Finding, Recommendations and Conclusion
7.1. Findings
Based on work experience, study and understanding of Paint Market in Bangladesh, I have
figured out some findings. These are as follow:
1. Elite Paint is the only local company that has massive number of products in product
segment
2. Elite Paint designs its product according to customer needs & choices with the intentions
that product would be accepted easily.
3. June to August is the lean conditions in market as it is the rainy season which is not
considering as suitable time for painting and rest of the time January to May and
September to December is the peak time of its business.
4. Private company like Elite Paint doesn‟t share financial report and financial policy to
public or any others organisations except government.
5. Elite paint is not going to be a public limited company because it is reluctant to share
ownership with public as it does not want to be bounded to share its policies, strategies
and decisions to anyone.
6. Media is less interested to focus on private company like Elite Paint as there has little
public financial benefit.
7. For maintaining cost cutting system, it barely maintains Exclusive Dealership as the
company has to bear many maintenance costs. Nearest dipo plays the role of exclusive
dealer.
8. Elite Paint does not hire brand ambassador since it can‟t get the expected Return of
Investment (ROI) from that strategy. And their lifestyle may affect the company‟s image.
9. Elite Paint like other local paint companies is getting less support from government
compared to Multinational Companies (MNCs).
10. As a local company Elite Paint always faces competition in investment like MNC.
11. Its aim is to the top position in paint industry. So, firstly they compete with the nearest
competitor and then will compete with the upper competitors gradually
12. In case of promotion of the product, we can rarely see that Elite Paint arranges any
product launching program.
13. Elite Paint highly believes in innovation but its product diversification is very sluggish
comparison to their competitors.
14. Elite Paint trains many painters to understand their paint and painting process properly.
15. It is giving more priority in water base paint rather oil based paint .

48
There are some findings of market scenario based on market visit:
1. There are few banners, bill board and other promotional activities in market.
2. The product is not well available in the market where we have visited to conduct a
survey.
3. Sellers don't encourage customers to buy Elite Paint.
4. The relationship marketing with painters, sellers, contractors, project manager is not in
good position.
5. Elite paint provides fewer incentives to Painters, contactors and sellers

7.2. Recommendation
As Elite Paint is a local brand, it was tough to compete in this market. However, it has become a
renowned brand. Some recommendations have been given to increase its competitiveness.

1. Improvement in Transportation and Distribution

Elite Paint dealers think the company should increase their delivery transportation as days
are getting tough henceforward. Moreover, Elite Paint should improve distribution and
quick delivery system as customers wants their product near the hand within a short
period of time.

2. Promotional Policy In this digital era, the use of social media is very powerful to gain
new and long-term customer. So it should provide more effective information regarding
the product and service quality to encourage the customer through social media such as
actively maintaining verified YouTube channel, Facebook, Instagram, LinkedIn, Twitter
etc. It should also emphasize on offline promotional policy like Billboard Ads, shop
painting sponsorship and newspaper Ads to make the target market informed.

3. Sales System Elite Paint should restructure its sales system. It can restructure through
employing more workforce, day to day sales and delivery system, enrich end-user
activists activities, frequent market visit, better communication with distribution. It gives
more emphasis on physical, manual and dealer-based delivery system. Rather, it‟s time to
generate more sales through Social media based ordering system, website ordering

49
 system, to give EMI facilities, EFT and online based payment system as ours is modern
and globalized era.

4. Strengthening Financial Stability The two main competitors of Elite Paint are Berger
Paints and Asian Paints. They both are MNCs and have huge funding. So Elite Paint
should seek help from the government to compete with them. It would be much easier for
the company if they could get single digit loan from the government.

5. New Line of Product Mostly because Bangladesh has temperate monsoon weather
influenced by large seasonal changes in rainfall, hot temperatures and humidity, it is
essential to ensure that surfaces are shielded from tropical climate by the quality of Elite
Paint products. Elite Paint can go to related diversification by utilizing its highly
experience chemists, designer, employees and technologies.

6. Technology Improvement Technology must be improved as we are in digital era. Elite

Paint should make effort on the process of ordering to delivering product on customer
hand with in a short period of time by the help of technology.

7. Increasing Awareness about Lead Safe Paint

Elite Paint should spread more awareness about the lead safe product through showing
heart touching TV commercials to attract the new or more customers. It also should
increase Above The Line (ATL) marketing in order to catch the target market.

8. Product Launch Program

Elite Paint should follow some channels for product launching program. Product launch
program is a major source for promoting the product.

50
9. Concentrate more on Rural Areas
Elite Paint is now more concentrating on urban areas. But it ignores rural construction
and infrastructures which is going to be a huge market as country is moving towards
industrialization. Thus, it should focus rural areas equally to increase brand image and
sales.

10. Experience Centre

Experience centre could be a bridge to enhance credibility to customers. Elite Paint can
establish experience centre for better output.

11. More availability of Products in the Market

Sometimes customers buy whatever they find in nearest shop in that case more
availability of product could be helpful.

12. Increasing Incentives

To maintain good relationship with dealers, contractors and customers‟ Elite Paint can
improve its incentive system through tokens, gift etc.

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7.3. Conclusion
From the internship I have learnt a lot about the paint industry. It was a new experience for me to
work in totally different industry.

Elite Paint is one of the leading paint brands that continues to find more ways to deliver
customer satisfaction. The resources of Elite Paint are committed to continue research and
product development and maintaining product diversity. As this is a highly competitive industry,
it loves healthy competition with other brands. It is highly capable to compete with multinational
brands.

Elite paint has strong distribution network all over the country. Numerous secondary dealers
operating in the borders of the major markets are engaged in selling the products of the company.
It has introduced many new products into the market including self-leveling epoxy paint “Floor
Mask”, “Powder Coatings” and construction chemicals like “Super Strength” and “Super Water
Reducer.

There is a huge potentiality for the paint industry as people prefer to innovate with newer colors
in their homes. There is always demand for quality products & Elite Paint brings innovative and
qualitative products for customers.

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References
Elite paint‟s newspaper and brochurers

http://www.bpmabd.org/

https://archive.dhakatribune.com/uncategorized/2018/05/05/serajuddin-ahmed-story-
legendary-entrepreneur

https://bbf.digital/experience-the-elite-difference

https://esdo.org/elite-paints-is-the-first-paint-company-of-bangladesh-to-receive-the-lead-
safepaint-certification/

https://ibtbd.net/wp-content/IBT-Jan-20/files/basic-html/page20.html

https://thefinancialexpress.com.bd/trade/paints-market-sees-60pc-annual-growth

https://today.thefinancialexpress.com.bd/trade-market/paints-market-sees-60pc-annual-
growth-1678297309

https://www.bracu.ac.bd/news/mou-signed-between-elite-paint-chemical-industries-ltd-
andschool-architecture-and-design-brac

https://www.colorsmagazine.net/walking-in-the-familys-footsteps/

https://www.scsglobalservices.com/news/elite-paint-receives-first-lead-safe-paintr-
certificationin-bangladesh

https://www.tbsnews.net/economy/industry/berger-paints-put-tk400cr-state-art-factory-
491590

https://www.tbsnews.net/feature/panorama/painting-legacy-story-elite-paint-113959

https://www.thedailystar.net/business/economy/news/higher-input-dollar-costs-take-
gloss-paint-industry-3233231

https://www.thedailystar.net/business/news/prospects-paint-industry-1772083

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Superbrands( An Insight Into Bangladesh‟s Strongest Brands 2021-2022)

The Business Standard. 2022. Painting a legacy: The story of Elite Paint. [online]
Available at: .

Website of Elite Paint ( www.elitepaint.com.bd)

Website Panit manufacturing organization. Available at: www.bpmabd.org

www.serajuddinahmed.com

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