Internship Report on

Marketing Mix and Activities of

Elite Paints and Chemical Industries Ltd.

Supervised By
Mohammad Alauddin
Assistant Professor
Department of Marketing
University of Chittagong

Submitted By
Tanthu Nag
BBA 8th Semester
ID: 18304021
Department of Marketing
University of Chittagong

Date of Submission: 20-06-2023

 LETTER OF TRANSMITTAL

To

Mohammad Alauddin

Assistant Professor

Department of Marketing

University of Chittagong

Subject: Submission of Internship Report

Sir,

I am a pleasure to submit the internship report of my six weeks of long internship program at
Elite Paint and Chemical Industries Limited in Chittagong office. The title of the report i s
“Marketing Mix and Activities of Elite Paints and Chemical Industries Limited”. This report is
been prepared to fulfill the requirement of my internship program to complete my BBA
program.

I have tried my best to make this report effective and informative. It has been a great
experience for me to work in the organization and 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 and suggestion for
preparing report. It would be my immense pleasure if you consider this report worthwhile and
informative. I shall be obliged to provide any further any explanation and queries regarding this
report or any relevant matters if required.

Sincerely Yours

Tanthu Nag

ID: 18304021

Session: 2017-2018
 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
Mohammad Alauddin, Assistant 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, Mr. Rabez Ahmed and Mr. Rahil Ahmed 3rd generation
directors of Elite Paint and Chemical Industries Limited for giving me this opportunity to do my
internship in this well renowned organization.

I express my honest and sincerest gratitude to Mr. M. A. Mukit Chowdhury, Senior Manager
Strategic of Elite Paint and Chemical Industries Limited, 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 and 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.
 EXECUTIVE SUMMARY

This report analyses the strategies of the Elite paint & chemical industries ltd. Elite Paint is one
of the most renowned companies in our country. This report has covered almost all the strategy
of Elite Paints & Chemical Industry Ltd that can be shared with others, for marketing its
product. It also includes a brief profile of the company. To know the strategy of the company, it
also includes the product categories and the distribution channel of the company. The objective
of this report is to identify and analyze the marketing strategies of EPCL 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 time barriers, intension to not disclose the information, rules and regulation
etc. The vision of the company is to remain as the benchmark in the Paint industry.

Being an innovative and technology-driven Company consistently delivering world-class

products ensuring best consumer satisfaction through continuous value-added services
provided by a highly professional and committed team. Their primary aim was prioritizing
customer satisfaction by delivering high-quality products at a competitive price and remaining
socially committed ethical company. Production of paints and coatings is the core business of
EPCL. EPCL 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. Since its inception, the company has evolved to become
a market leader in the paint brand.

The report is the result of 6 weeks internship program in the paint manufacturing industry at
ELITE PAINT AND CHEMICAL INDUSTRIES LIMITED, GEC branch, CHATTOGRAM. The internship
has been conducted on Marketing Analysis and Strategies of ELITE PAINT. I was placed under
the Strategic Department of ELITE PAINT. The division is responsible for providing strategic
analysis to the company.

The study consists of six chapters. Each chapter based on the objectives that I set out to
achieve. FIRST Chapter provides information about the introduction and background of the
study. I explained here the Scope, Objectives and Methodology of the study. Like all study, this
report has also certain limitations which were in some cases unavoidable. In the SECOND
Chapter, the report based on Company Overview of ELITE PAINT, its Mission, Vision, &
Corporate profile, the overview of paint industry in Bangladesh, nature of business,
achievement, organizational structure of elite paint, main focusing point.
Chapter THREE gives a crystal idea about the paint industry of Bangladesh specially the
respective market shares of EPCL and its competitors. In the FOURTH Chapter, I have described
the Marketing Analysis of ELITE PAINT. In Chapter FIVE, I have shown how ELITE PAINT use
Marketing mix elements, including Product, Price, Place, Promotions. In LAST chapter, I have
concluded my study about marketing analysis and strategies based on my observation during
my course of internship in the branch. I have tried to find some strengths & problems and to
make some recommendations which I think will make this financial institution more effective
and efficient in performance appraisal and more competitive in the financial sector. Finally,
references are given at the end of the report.
 TABLE OF CONTENTS
SERIAL NO. TOPIC PAGE NO.
CHAPTER ONE: INTRODUCTION
1.1 Background of the Study 02
1.2 Scope of the Study 02
1.3 Objectives of the Study 02
1.4 Methods and Procedures 03
1.5 Data gathering method 03
1.6 Limitation of the Study 04
CHAPTER TWO: OVERVIEW OF ELITE PAINT AND CHEMICAL INDUSTRIES LIMITED
2.1 Elite Paint & Chemical Industries Ltd. at a glance 06
2.2 Company profile 07
2.3 Vision 08
2.4 Mission 08
2.5 Focusing point of Elite Paint 08
2.6 Nature of Business 09
2.7 Achievements 09
2.8 Organizations structure 09
2.9 Major products of EPCL 10
2.10 Recent development 11
CHAPTER THREE: OVERVIEW OF THE PAINT INDUSTRY IN BANGLADESH
3.1 The size and market share of Paint Market in Bangladesh 14
3.2 Overview of some paint Companies in Bangladesh 16
CHAPTER FOUR: MARKET ANALYSIS OF ELITE PAINT AND CHEMICAL INDUSTRIES LIMITED
4.1 SWOT Analysis 19
4.2 PESTEL Analysis 22
4.3 Porter’s Five Force Analysis 25
SERIAL NO. TOPIC PAGE NO.
CHAPTER FIVE: ANALYSIS OF MARKETING MIX
5.1 Introduction to Marketing Mix 29
5.2 Role of Marketing Mix in a company’s marketing strategy 29
5.3 Product Segments of EPCL 31
5.4 Pricing strategies of EPCL 34
5.5 Place and Distribution of EPCL 34
5.6 Promotional activities of EPCL 35
CHAPTER SIX: FINDINGS, RECOMMENDATIONS AND CONSLUSION
6.1 Findings 38
6.2 Recommendation 40
6.3 Conclusion 42
REFERENCES
INTRODUCTION

1
1.1 Background of the Study

Internship provides 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 Mohammad Alauddin, 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 comprehensively covers Elite Paint’s marketing strategies and how they maintain
their position in the paint industry. It also includes a concise profile of the company, an analysis
of the paint market in Bangladesh, and the company's product categories and distribution
channels. To obtain this information, I analyzed the strategic landscape of paint products,
identified the marketing framework, and assessed various strategies, their consequences,
SWOT analysis, PESTLE analysis, and Porter's five forces analysis.

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:
1.To carry out an intensive strategic study on Elite Paint and Chemical Industries Ltd.
2.To identify and analyze the marketing strategies that Elite Paint adapt in different levels

1.3.2 Specific objectives:

Specific objectives of this report are as follow:
1. To learn about the Elite Paint's principles, vision, mission, objectives and their applications.
2. To perceive the organizational culture and structure of Elite Paint.
3. To identify Segment strategies
4. To identify Target market selection strategies
5. To identify Positioning Strategies
6. To identify Pricing strategies
7. To identify promotional strategies
8. To identify competitive strategies

2
1.4 Methods and Procedures
Every Research work should be conducted through a specific and predetermined methodology
to explore an effective research outcome. The nature of the study is a qualitative research. It
has been conducted with a methodology and the laments of methodology are as 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.

1.4.2 Secondary sources

 Elite’s Bluebook
 The website of Elite (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 through some questionnaire. Besides, some data
has been collected by conducting in depth interview with Senior Strategy Manager M.A Mukit
Chowdhury.

3
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 is;
• Most of the traders are very much afraid of disclose the information about sales.
• Time and cost constraints also other limitations regarding this research.
• Every organization has some rules and regulation regarding its privacy policy, so does Elite
Paint
• Lack of experience of the researcher.
• As the report is based totally on personal observation, personal bias might have hampered
the findings. I might have unintentionally missed any important point that I should have
covered in my project work. In my survey I have dropped some Elite’s dealer as I want to focus
on the traders who sales more than one company’s paints.

4
 OVERVIEW OF
ELITE PAINT & CHEMICAL INDUSTRIES LIMITED

5
2.1 Elite Paint at a glance

Elite Paint, founded in 1952, was the first-ever paint company to have been established in
Bangladesh. Since its inception, the company has grown to become one of the country’s leading
paint brands, under the guidance of our Honorable Founder Chairman Late Mr. Serajuddin
Ahmed. From the very beginning, Elite Paint played a major part in the development of fixed
assets and contributing to the GDP of Bangladesh. Soon after his graduation Late Mr.
Serajuddin Ahmed established a small paint manufacturing factory by the name of Elite
Chemical Industries. EPICL has a long and self-righteous story of success in the paint industry. It
started small and embarked on a journey that lasted more than 5 decades and still moving
forward with arms wide open to accept all the challenges that the new age has to offer Elite
Paint is now a name synonym to Quality & Luxury. It is our pride and honor to uphold the legacy
and cater the customers need to its fullest. It has a young and energetic team of brilliant
individuals who are working relentlessly towards excellence. Right from the start, Elite’s
primary aim was prioritizing customer satisfaction by delivering high-quality products at
competitive prices. To deliver the best quality products, Elite Paint utilizes a vast amount of
resources in research and development. 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 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.

6
2.2 Company profile:

Name of The Company Elite Paint & Chemical Industries Ltd

Legal Form Private limited company

Establishment 1952

Chairman Mr. Feroz Ahmed

Vice-Chairman Mr. Salim Ahmed

Product Categories Wide range of paints and coatings

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) Pbt # 89, Road # 28, Sector
7, Uttara, Dhaka-1230, Bangladesh.
Chittagong office Elite House, CDA Avenue, East Nasirabad,
Chittagong, Bangladesh
Factory Elite paint & Chemical Industries Ltd. 92 Baizid Bostami,
I/A ,Nasirabad, Chittagong, Bangladesh.

7
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

 Pledge to achieve complete customer satisfaction.

 Dedication to portraying the company as ethical and socially responsible.
 Commitment to maintain market leadership through consistent sales growth, increased
productivity, and development of new products that meet customer demands.
 Ensuring ongoing improvement in operations through the use of skilled and dedicated
professionals, effective process management, and stakeholder participation.
 Establishing measurable targets at appropriate stages and continuously tracking
progress.

8
2.6 Nature of Business
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, Color Fest 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 creates 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

EPCL has a traditional organizational structure.

The board of directors holds six meetings per year, chaired by the chairman. Several
committees are formed, including the Audit, Risk, Remuneration, Executive, and Purchase
committees, with the Managing Director and other directors serving on them. These
committees meet at least once a month to approve proposals. Mid-level managers initiate
proposals, which are then sent to the Managing Director through department heads. EPCIL
faces legal problems and external auditors conduct audits. The company has four non-executive
directors, two executive directors, and ten managers who report to the Managing Director.

9
Three manager report directly to the executive directors, while the others report to the
Managing Director. Department managers monitor subordinates' work, communicate top
management decisions, and provide feedback. Lower-level managers perform their duties
diligently and report to their superiors regularly.

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

10
 2.10 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.

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

11
societies. Transocean Coating will also help Elite Paint build up world-class service support for
the specialized coating segments in Bangladesh.

12
OVERVIEW OF THE PAINT INDUSTRY IN BANGLADESH

13
3.1: The size and market share of Paint Market in Bangladesh
The paint market in Bangladesh has been growing at a rapid rate for several years. 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 BDT. 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.

14
 Roxy Paints Others
Nippon Paints 1% 7%
3%
Rainbow Paints
4%
Elite Paints
6%
Berger Paints
Kansai Nerolac 54%
7%

Asian Paints
18%

Figure: Comparative Market Share

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

15
3.2: Overview of Some Paint Companies in Bangladesh:

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

Berger Paints Bangladesh Ltd

Berger Paints Bangladesh Limited (formerly Jenson & Nicholson) established a paint factory in
Chittagong in 1970 and changed its name to Berger Paints Bangladesh Limited in 1980. It is a
multinational company and holds the largest market share in the Bangladeshi paint market.
Berger Paints Bangladesh Limited has two factories, a nationwide dealer network, and 12 sales
depots located across the country. Berger Paints Bangladesh Ltd has decided to set up another
factory in Chattogram's Mirsarai Economic Zone (MEZ).

Asian Paints Bangladesh Ltd

Asian Paints Bangladesh Ltd. started its journey in the year 2002 as a joint venture with
Confidence Cement Ltd. It is also an MNC that holds the second-largest market share. Currently,
Asian Paints operates with a single factory and has a network of over 1,400 supportive dealers
along with 9 depots spread across the country. Asian Paints has started building a new
manufacturing unit in Chattogram's Mirsarai Economic Zone (MEZ).

16
Kansai Nerolac Paints (Bangladesh) Limited
Kansai Nerolac Paints (Bangladesh) Limited is a subsidiary of Kansai Paint, Japan. Kansai Nerolac
entered the Bangladeshi paint market in 2018 by acquiring a majority stake in RAK Paints Ltd.
which has been operating in Bangladesh since 2009. It currently has 7 depots i n the country.

Rainbow Paints
Rainbow Paints, a concern of RFL Group was founded in 2016. It has 200+ showrooms across
the country. Besides traditional paint product categories, it is trying to tap into the spray paint
category in the country which is mainly import dependent.

Nippon Paint (Bangladesh) Pvt. Ltd.

Nippon Paint is a well-known paint manufacturer based in Japan. It is considered one of the
leading paint manufacturers in the world. In August 2014, Nippon Paint (Bangladesh) Pvt. Ltd.
began its commercial operation in Bangladesh.

Roxy Paints Ltd.

Roxy Paints Ltd. was founded in 1953 and currently operates two factory units. In addition to its
manufacturing facilities, Roxy Paints also has nine warehouses and distribution points.

Aqua Paints
Aqua Paints is a paint company established in 2005 by the successors of Late Serajuddin
Ahmed, who was the founder of Elite Paints.

Ujala Paint Industry

Ujala Paints is in operating in the Bangladeshi paint market since 2004. It is formed by the
owners of Nazrul Brothers Paint Industries.

Jotun Bangladesh Limited

Jotun Bangladesh Limited is a subsidiary of the Norway-based paint and coatings manufacturer,
Jotun Group, another leading paint manufacturer in the world.It is operating in the Bangladeshi
paint market since 2012. In 2022, they opened their first factory in the country.

17
 MARKET ANALYSIS OF
ELITE PAINT & CHEMICAL INDUSTRIES LIMITED

18
4.1 SWOT Analysis

To formulate the marketing & overall strategies of Elite Paint and Chemical Industries Limited,
the management first analyzes their mission and objective and then uses 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.

19
Strength:

 First ever paint company in Bangladesh.

 Achieved ISO 2001-2015
 “Best Employer Award” from World HRD Congress in 2017.
 Food grade certification for Epoxy paints from BUET
 Strong Distribution Network
 Good reputation among customers
 Achieved “Superbrands” Award 2021.
 Lead-Safe certificate from SCS Global and IPEN in 2020.
 R&D department
 Strong portfolio: Varieties of Products.
 Best quality product with competitive price.
 Qualified employees
 Rich experience on Bangladesh Paint Market.
 Partnership with TransOcean Coatings of the Netherlands

Weaknesses:

 High cost for importing raw materials

 Backdated facilities
 Dependency on foreign manufacturers for gaining raw materials.
 High production cost
 Limited promotional activities
 Local company
 Low market share
 Fewer incentives for dealers, contractors, painters and others.
 Weaker technological know-how

Opportunities:

 Vast and fast growing 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

20
Threats:

 Fierce competition in Bangladesh market

 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

21
4.2 PESTEL Analysis

PESTEL analysis identifies the external macro-environmental factors of a company including

political, economic, socio-cultural, technological, environmental, and legal factors that present
opportunities and threats to the company. Through PESTEL analysis, Elite Paint and Chemical
Industries Limited sets up strategies to use the opportunities of the environment and decrease
the potential threats.

Political

The political situation of Bangladesh is more or less stable. The domestic political instability
brought on by strikes, clogs and hostility impacts all sort of business consisting of the paint
sector also. Products are transported with much trouble with more dangers and greater cost
throughout the political violence. Frequent changes of government and policymakers‟ lack of
enthusiasm or failure to implement development oriented policies is a huge problem for the
paint industry persistently changing in terms of technology. Due to the political instability and
recent initiatives taken Elite paint faces tough times ahead in order for the company to cope up
with these uncontrollable factors. However, Elite has maintained positive relations with the

22
government and is likely to benefit in the near future from its beneficial relationship with the
government. Support from regulatory agencies and the absence of harmonized tariff and non-
tariff policies made it challenging for Elite paint to survive in this competiti ve industry.

Economic

There is a prevailing misconception in Bangladesh that paint is a luxury item. It is, in fact, a
necessary item. In developing countries, annual cost of corrosion amounts to nearly two to
three percent of GDP, which is caused due to the lack of protection of infrastructures which
include buildings, roads, highways and bridges, vehicles and shipping vessels, industrial
structures and machineries etc. Paint actually ensures the longevity of all structures and thus
profitably contributes to national savings. Elite paint targets all classes of people. They have
products for upper classes as well as for middle classes also. Their products are qualified and
affordable. But the matter of problem is that the economic condition of whole world is going to
a recession situation as well as in Bangladesh. Before spreading Covid-19 pandemic, economic
situation of Bangladesh was positive and in excellent growth economic condition. Now Ukraine-
Russia war adds a new dimension in ongoing economic condition. Inflation, local currency
devaluation, newly imposed duty; disrupted supply chain conditions etc. have been making the
economic situation worse. So, at present like other countries in the world economic condition
in Bangladesh is not in positive side.

Social

The paint industry has actually most definitely made an effect on the work market of the
nation, various neighborhood and multinational paint brand names taking in thousands of
employees and also producing new career chances daily. Likewise, the need for business to act
properly towards society has increased day-by-day and numerous business are acting in such
means. Elite paint sponsored for various events to be socially responsible. They have organized
Annual Festival Boishakh, solo exhibition and also held programs for celebrating Women’s day.
These initiatives cause a better picture for Elite Paint and Chemical Industries Limited in minds
of the customer. In this globalized era, people are obtaining more subjected to numerous
cultures, luxurious lifestyles, far better services and products, this opens possibility of paint
industry to grow here with various kinds of paint products.

23
Technology

Technology is one of the most prominent factors in the industry. Demand in Asia continues to
rise faster than elsewhere in the world, and that region now accounts for nearly 50% of global
consumption but still Bangladesh does not have an infrastructure that allows for research and
development of large scale even though paint industries changes persistently with
technologies. However, recent drives to automate day to day activities have been taken by a
majority of paint brand companies. Elite paint has actually constantly been one of the most
technology oriented paint companies of the nation. It has the most contemporary state-of-the-
art manufacturing centers set up in its Chittagong factory. Its research and development (R&D)
department is outfitted with the very best innovations in this nation. They brought the first
Tintin machine to make 1050 shades of color. The prospective market as well as opportunity to
succeed in this sector is most likely to rise in Bangladesh.

Environmental

In today’s environment, it is necessary to accomplish the goal of sustainable development

which means that the resources should be consumed in such way that the upcoming generation
will not face trouble. The rate of deforestation and industrialization is increasing in an alarming
rate. The concept of “Green Business” is widely adopted by organizations throughout the
world. However, paint related business primarily relies upon chemicals. Elite paint has taken
environment friendly initiatives. Their recent innovations involve self-leveling epoxy paint
“Floor Mask”- a new development that has antibacterial and seamless properties. They have
also brought powder coatings and construction chemicals like Super Strength and Super Water
Reducer. Elite paint is the first of paint companies to achieve QMS ISO 2009-2015. They have
been manufacturing “lead-safe” paints for more than five years and are the only paint
manufacturer in Bangladesh to be certified Lead-Safe Paint by SCS Global and IPEN.

Legal

Many laws relating to the paint business has been enacted to make a fair business environment
as well as to encourage entrepreneurship. The Bangladesh Labor Act 2006 (Act no.42) requires
that any company should have minimum wage rate, compensation for accidents, scope to have
trade union, health security, welfare and condition of job and environment, and concerned
issues. Elite Paint offer a lot of facilities in this respect to their employee providing life
insurances and health insurances and also it has a legal team which acts against adulteration
and copyright infringement in the country. They have tried to ensure job security and
retirement plans for their employees.

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4.3 PORTER’S FIVE FORCES ANALYSIS

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.

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

25
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.

Threat of Entrance

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.

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.

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.

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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 barga ining power
as it has an impact on the cost of finished paint item that 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.

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ANALYSIS OF MARKETING MIX

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5.1 Introduction to Marketing Mix

Marketing mix refers to a set of tactical tools or strategies that a company uses to promote and
market its products or services to customers. It is often referred to as the "4Ps" of marketing,
which include Product, Price, Place, and Promotion.

1. Product: This refers to the tangible or intangible item or service that a company offers
to customers. A company must understand the needs and wants of its target market
and create a product that meets those requirements.
2. Price: This refers to the amount of money that customers must pay to obtain the
product or service. The pricing strategy depends on the company's objectives, the target
market, and the competition.
3. Place: This refers to the distribution channels through which the product or service
reaches the target market. A company must ensure that the product is available at the
right place and time to reach the target audience.
4. Promotion: This refers to the communication strategies that a company uses to create
awareness and persuade customers to purchase the product or service. This includes
advertising, public relations, personal selling, and sales promotion.

By combining these four elements, companies can create a comprehensive marketing mix that
helps them to reach their target audience, differentiate themselves from competitors, and
ultimately increase sales and profitability.

5.2 Role of Marketing Mix in a Company’s Marketing Strategy

The marketing mix is a crucial tool for developing a successful marketing strategy and
implementing it effectively. By assessing the roles of product, promotion, price, and place,
companies can shape a comprehensive marketing approach. This analysis serves as the initial
step even before creating the business or marketing plan. It's because the decisions related to
the marketing mix also influence the company's positioning, targeting, and segmentation
strategies.

For paint manufacturers like Elite Paint, the product's attributes and features will guide their
targeting and segmentation decisions. They can determine which customer segments are most
likely to benefit from their specific product offerings. Additionally, the price of their products
will impact how they position themselves in the market. The pricing strategy should align with
the desired perception and target audience. These decisions regarding product and price also
shape their promotional efforts.

29
Promotion is a key aspect of the marketing mix, enabling companies to communicate the value
proposition to the target market effectively. The choice of promotional channels and messages
should be tailored to reach the desired audience and highlight the unique features and benefits
of the paint products. Furthermore, the place element of the marketing mix determines the
distribution channels and locations through which products will be made available to
customers. Companies need to ensure convenient accessibility for their target market while
considering cost efficiency and reach.

In conclusion, the marketing mix serves as a vital tool for developing a robust marketing
strategy. By carefully analyzing and adjusting the four key elements —product, price, place, and
promotion—companies can position their products effectively, target the right audience, and
ultimately drive sales and profitability. It's important to note that the marketing mix is not a
static concept but requires continuous review and adaptation to maintain competitiveness and
relevance in the industry.

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5.3 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:

Product
Segments

Decora tive Industrial

Ma ri ne Paint
Pa i nt Pa i nt

Oi l / Solvent Oi l / Solvent Oi l / Solvent

Wa ter Base Powder Base Epoxy Ba s e Epoxy Ba s e
Ba s e Ba s e Ba s e

Fig: Product Segment of Paint Sector

EPCL focuses on being a supplier of almost every type of paints as per local needs, and so it has
product under all sub-categories. Elite Paint has developed a wide product line which serves to
almost all needs of paints and coatings. Elite Paint product portfolio based on various uses is
given bellow upon segments and with brand names:-

1. Decorative Paint
I. Interior
 Silk Deluxe
 Plastelite Plastic Emulsion
 Rebelite Synthetic Paste Distemper
 Illumina Glitter
 Illumina Top Coat
 Bontile Texture Paint

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 II. Exterior
 Master Coat (Premium Quality ‘weather proof Coating)
 Smooth Exterior
 Supreme Elitecem
2. Industrial Paint
 Industrielite
 Hammelite Hammer Finish
 Industrielite black Bituminous Paint
 Powercoat Powder Coating
 Road Marking Paint
 Hot Melt (Thermoplastic Road Paint)
 Rupali Aluminium Paint
 Tennis Court Paint
 Swimming Pool 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 of poor maintenance)
 Super Strength
 Industrielite Damp Stop
 Salt Seal
 Floor Mask Self Leveling Epoxy
 Super Plaster 2K
 3 in 1 Putty
 Super Latex
 Super Seal Water Repellent
 PU Roof Coat
 Floor Paint
5. Wooden Surface Paint
(Used for both decorative and industrial purposes)
 Synthetic Clear Varnish
 Yacht Varnish
 Supreme Copal Varnish

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 6. Metal Surface Paint (Used for both decorative and industrial purposes)
 Lucky 7
 Quick Drying
7. Undercoats
 Aclose Sealer
 Mastercoat Exterior Sealer
 Plastelite Wall Sealer
 Wallelite
 Puttelite
 Multipurpose putty White
 Victory- U Anti Corrosive red Oxide Primer
 Thinner (14 Types)
 Bontile Thinner

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
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.

33
5.4 Pricing strategies of Elite Paints and Chemical Industries Limited

The main focus of Elite Paint’s pricing strategy is “Provide high quality product at highly
affordable price”. Elite Paint ensures customer satisfaction by providing quality products at a
competitive price, which keeps them ahead of their competition. So, Elite Paint mainly follows
cost based pricing strategy where a margin is added with the cost of production and
distribution of the product. But it is not the only strategy, competitor prices are also taken into
account while fixing the price. Elite Paint considers commissions/discounts to dealers and
retailers while making their pricing strategy. Elite Paint supplies their products to dealers and
retailers at a discounted price. The amount of commission/discount varies based on the
performance of dealer/retailer. Elite Paint Have three prices for every product:
 Factory Price
 Dealer Price
 Maximum Retail Price

5.5 Place and Distribution of Elite Paints and Chemical Industries Limited
With its strong distribution network, ELITE PAINT has reached almost every corner of
Bangladesh. Their nationwide dealer network, supported by sales depots strategically located in
Dhaka, Chittagong, Rajshahi, Khulna, Bogra, Sylhet, Barishal, Rangpur, Rajs hahi Feni and Comilla
has an unmatched capability of cater to the needs of the consumers of paints products, almost
everywhere in Bangladesh. ELITE PAINT covers the wide geographic area and day by day it
develops its business. For a local company it is quite competitive to expand its business for
some obvious reason, but ELITE PAINT has done a prodigious job expanding its business.

Centra l
Fa ctory Depots End us er
Di s tribution

Centra l
Fa ctory Depots Dea ler End us er
Di s tribution

Centra l
Fa ctory Depots Corpora tion
Di s tribution

Centra l
Fa ctory Depots Dea ler Reta iler End us er
Di s tribution

Centra l
Fa ctory Depots Dea ler Contra ctor End us er
Di s tribution

34
5.6 Promotional Activities of Elite Paints and Chemical Industries Limited
Elite Paint and Chemical Industries Limited (EPCL) is a homegrown company. So, it is quite
difficult to directly involve in advertising because of a private enterprise. EPCL undertakes
promotional activities to introduce their decorative paint with their target customers. It tries to
sell its product through various types of promotion.

Advertising
EPCL 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 EPCL 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.

Sale Promotion
EPCL follows some tools for Sales Promotion as given below:
 Advertising specialties
It provides some useful printed material gift to customer namely, shade card, calendar, their
own designed notebook, diary, desk calendar.
 Free goods
EPCL provides gift voucher on some certain amount of purchase in certain dates. It also gifted
their own manufactured Hand sanitizer namely “SAAF” to the Architect, Engineer for safety in
COVID-19 situation.
 Allowances
In case of a large quantity purchase EPCL offered 15% off of the list price of its product.
 Dealer sales contest
Every year EPCL 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.
 Point of purchase
EPCL 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
EPCL provides attractive packaging. All of the EPCL products come through an attractive
packaging for promoting their product.

35
Public relation
EPCL helped Government financially by donating a lump sum amount for Rohingya Refugee
Camp & Flood affected people. It hosted technical seminar around country wide where they
train up the Painter about product & painting knowledge. Other than that, It does Campus
recruitment program for young generations, which help adolescents to start up career in a pre-
owned company. Also, EPCL tries to maintain a good relationship with their stakeholder &
investor by greetings them on their achievement. EPCL sponsored an event called “Climate
Change Action” on World Architect Day.

Direct marketing
As now a digital era, EPCL 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 EPCL 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. They sponsored a Sehri
night event that was held in GEC Convention Centre. All this promotional activity helps EPCL to
promotes its business and make them familiar to the target consumer.

36
FINDINGS, RECOMMENDATIONS AND CONCLUSION

37
6.1 Findings
Based on survey, study and understanding of Paint Market in Bangladesh, I have figured out
some findings. These are as follow:
1. EPCL is the only local company that has massive number of products in product
segment.
2. EPCL designs their product according to customer needs & choices with the
3. Intentions that product would be accepted easily.
4. June to August is the lean conditions in market as it is the rainy season which is not
5. 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.
6. Private company like EPCL doesn’t share financial report and financial policy to
public or any others organizations except government.
7. EPCL 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.
8. Media is less interested to focus on private company like Elite Paint as there has little
public financial benefit.
9. For maintaining cost cutting system, it barely maintains Exclusive Dealership as the
company has to bear many maintenance costs. Nearest depot plays the role of exclusive
dealer.
10. EPCL 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.
11. EPCL like other local paint companies is getting less support from government
compared to Multinational Companies
12. As a local company EPCL always faces competition in investment like MNC.
13. 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
14. In case of promotion of the product, we can rarely see that EPCL arranges any
product launching program.
15. EPCL highly believes in innovation but its product diversification is very
sluggish comparison to their competitors.
14 EPCL trains many painters to understand their paint and painting process
properly.
16. It is giving more priority in water base paint rather oil based paint.

38
There are some findings of market scenario based on market visiting:
I. There are few banners, bill board and other promotional activities in market.
II. The product is not well available in the market where we have visited.
III. Sellers don't encourage customers to buy Elite Paint.
IV. The relationship marketing with painters, sellers, contractors, project manager is
not in good position.
V. EPCL provides fewer incentives to Painters, contactors and sellers.

Finding regarding PESTEL Analysis:

Factors Impact
Political factor Negative
Economic factor Negative
Social factor Positive
Technological factor Negative
Environmental factor Positive
Legal factor Negative

Findings regarding 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

39
6.2 Recommendations
As EPCL is a local company, it is quite tough to compete with MNC’s in the market. But it is still
in a good position by following and maintaining its own strategies and policies in the market.
Some suggestions and recommendations have been given for the company from my acquired
knowledge and analysis that I learnt during my internship period
1. Improvement in Transportation and Distribution Facilities
EPCL dealers think the company should increase their delivery transportation as days
are getting tough henceforward. Moreover, It should improve distribution and quick
delivery system as customers wants their product near the hand within a short period of
time.
2. Modern 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. Convenient Sales System
EPCL may restructure its sales system. It may restructure through employing more
workforce, day to day sales and delivery system, enrich end-user activists activities,
frequent market visit, better communication with distribution.
4. Strengthening Financial Stability
The two main competitors of EPCL 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
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 EPCL products. It can got to related
diversification by utilizing their highly experience chemists, designer, employees and
technologies.
6. Technological Improvement
Technology must be improved as we are in digital era. EPCL 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.

40
7. Increasing Awareness about Lead Safe Paint
EPCL may spread more awareness about the lead safe product through showing heart
touching TV commercials to attract new or more customers. It may increase ATL
marketing in order to catch the target market.
8. Product Launch Program
EPCL should follow some channels for product launching program. Product launch
program is a major source of promoting the product.
9. Concentrating more on Rural Areas
EPCL 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. Opening Counseling Centre
Counseling Centre could be a bridge to enhance credibility to customers. EPCL can
establish experience center 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 supportive for the company.
12. Increasing Incentives
To maintain good relationship with dealers, contractors and customers, EPCL may
improve their incentive system through tokens, gifts etc.

41
6.3: 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 environment.
Elite Paint and Chemical Industries Limited is one of the leading paint brands that continue to
find more ways to deliver customer satisfaction. The resources of EPCL 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.

42
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