Elite Paint Intern Report.pdf

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Internship Report on
"Marketing Mix Strategy of Elite Paint and Chemical Industries Ltd.
(EPCIL)"
Submitted to:
Mohammed Shahedul Quader
Associate Professor
Department of Marketing
University of Chittagong
Submitted by:
PLABAN DAS
ID: 18304039
Session: 2017-18
Date of Submission: June 16, 2023

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Letter of Transmittal
Date: 16th June 2023
To
Mr. Mohammed Shahedul Quader
Associate Professor
Subject: Submission of Internship Report.
Dear Sir,
I am pleased to present my internship report titled "Marketing Mix Strategy of Elite Paint and
Chemical Industries Ltd. (EPCIL)" as a requirement for my BBA program at the Department
of Marketing, University of Chittagong. This report reflects my two-month internship experience
at EPCIL's head office in GEC Circle, Chattogram, where I worked in the Strategic Department.
I have strived to create a comprehensive and informative report with your invaluable guidance
and suggestions. This report fulfills your requirements and provides meaningful insights. Should
you have any further inquiries, I am readily available to address them.
Thank you for your support and supervision throughout this endeavor.
Sincerely,
PLABAN DAS
ID: 18304039
Session: 2017-18

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Supervisor’s Declaration
This is to certify that the internship report on "Marketing Mix Strategy of Elite Paint and
Chemical Industries Ltd. (EPCIL)” is prepared by PLABAN DAS, ID No- 18304039;
Session: 2017-18, Department of Marketing, University of Chittagong.
The report has been prepared under my supervision and I wish him every success in his future
life.
...........................................
Signature of the Supervisor
Mohammed Shahedul Quader
Associate Professor
University of Chittagong.

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Student’s Declaration
I, PLABAN DAS, declare that the report titled "Marketing Mix Strategy of Elite Paint and
Chemical Industries Ltd. (EPCIL)" is my work, conducted under the guidance and supervision
of Mr. Mohammed Shahedul Quader, Associate Professor of the Department of Marketing,
University of Chittagong. The information and findings presented in this report are based on my
independent research and analysis. The report is done for the requirement of the BBA program.
By signing this declaration, I affirm that this report represents my original work and meets the
standards and requirements set by my educational institution.
.....................................
PLABAN DAS
ID No.: 18304039
Session: 2017-18
University of Chittagong.

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Acknowledgement
I want to express my deepest gratitude to all the individuals who have contributed to the
successful completion of my internship and the preparation of this report. Their guidance,
support, and encouragement have been invaluable throughout this journey.
First, I sincerely appreciate my academic supervisor, Mr. Mohammed Shahedul Quader,
Associate Professor of the Department of Marketing, University of Chittagong, for his constant
guidance and insightful feedback. His expertise, patience, and willingness to share knowledge
have shaped my understanding and enhanced my skills during this internship.
I also sincerely thank Mr. Rabej Ahmed, Director of Elite Paint and Chemical Industries Ltd.
(EPCIL), for allowing me to intern at this esteemed organization.
Furthermore, I would like to express my deep appreciation to the Senior Manager of the Strategic
Department of Elite Paint and Chemical Industries Ltd (EPCIL), Mr. M A Mukit Chowdhury,
my on-site supervisor. His mentorship and support throughout the internship have been
invaluable. His vast industry experience, keen insights, and dedication to excellence have
challenged me to go beyond my limits and strive for continuous improvement.
Lastly, I want to acknowledge my family and friends' unwavering support and understanding.
Their encouragement, love, and belief in my abilities have been the driving force behind my
accomplishments. I am grateful for their sacrifices and the constant motivation they have
provided, enabling me to pursue my academic and professional aspirations.

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Executive Summary
This report focuses on the marketing mix strategies employed by Elite Paint and Chemical
Industries Ltd. (EPCIL), a leading paint manufacturer in Bangladesh. Established in 1952,
EPCIL is the first paint manufacturing company in the country.
Despite intense competition from multinational corporations (MNCs), EPCIL has maintained its
position as a key player in the Tk. 4500 crore Bangladeshi paint market by prioritizing customer
satisfaction and offering a wide range of quality paint and coating products at affordable prices.
Besides the consumer market, EPCIL has developed a large customer base B2B market, which
has also proved beneficial for the company. The marketing strategies, including the marketing
mix elements, have played a significant role in EPCIL's success.
This report analyzes the factors behind EPCIL's marketing mix strategies that have enabled the
company to establish a prominent position in the MNC-dominated Bangladeshi paint industry as
a local player. It examines the marketing mix elements, such as product, price, promotion, and
place, to gain insights into EPCIL's effective strategies in meeting customer needs and
preferences. This report also contains a comprehensive overview of EPCIL and the paint industry
in Bangladesh. Additionally, recommendations are presented to assist EPCIL in further
enhancing its marketing strategies.

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Contents
Chapter 1: Introduction...............................................................................................................................10
1.1: Background of the Study .................................................................................................................10
1.2: Scope of the Study...........................................................................................................................10
1.3: Justification of the Study .................................................................................................................10
1.4: Objectives of the Study....................................................................................................................11
1.4.1: Broad Objective ........................................................................................................................11
1.4.2: Specific Objectives ...................................................................................................................11
1.5: Research Methodology ....................................................................................................................12
1.6: Limitations of the Study ..................................................................................................................13
Chapter 2: Literature Review......................................................................................................................14
2.1: Introduction......................................................................................................................................14
2.2: Concept of Marketing ......................................................................................................................14
2.3: Role of Marketing............................................................................................................................15
2.4: B2B Market......................................................................................................................................16
2.5: Marketing Mix.................................................................................................................................17
2.6: Marketing Process............................................................................................................................17
2.7: Implications of Marketing Mix Strategy..........................................................................................18
2.8: Marketing Philosophy......................................................................................................................19
2.9: Summary..........................................................................................................................................20
Chapter 3: An Overview of Paint Industry in Bangladesh..........................................................................21
3.1: Introduction......................................................................................................................................21
3.2: Features of Paint Industry in Bangladesh ........................................................................................21
3.3: Evolution of Paint Industry in Bangladesh ......................................................................................23
3.4: Paint Industry analysis.....................................................................................................................24
3.5: Paint Manufacturing Companies in Bangladesh..............................................................................26
3.6: Market Share of Paint Companies ...................................................................................................29

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3.7: Role of Paint Industry in Bangladesh ..............................................................................................30
3.8: Prospects of Paint Industry in Bangladesh.......................................................................................31
3.9: Summary..........................................................................................................................................32
Chapter 4: An Overview of Elite Paint and Chemical Industries Ltd. (EPCIL) .........................................33
4.1: Introduction......................................................................................................................................33
4.2: Background of EPCIL .....................................................................................................................33
4.3: Mission and Vision..........................................................................................................................34
4.4: Company Profile..............................................................................................................................35
4.5: Organizational structure...................................................................................................................36
4.6: SWOT Analysis...............................................................................................................................37
4.7: Brand Values of EPCIL ...................................................................................................................42
4.8: Market Condition and Present Achievements..................................................................................43
4.9: Present Plan for Market Development.............................................................................................44
4.10: Summary........................................................................................................................................44
Chapter 5: Marketing Mix strategy of EPCIL from B2B Perspective ........................................................45
5.1: Introduction......................................................................................................................................45
5.2: B2B Market of EPCIL .....................................................................................................................45
5.3: Marketing Philosophy of EPCIL .....................................................................................................47
5.4: Marketing Mix Strategy of EPCIL ..................................................................................................48
5.4.1: Product......................................................................................................................................48
5.4.2: Price ..........................................................................................................................................53
5.4.3: Place..........................................................................................................................................55
5.4.4: Promotion..................................................................................................................................57
5.5: Relationship Marketing....................................................................................................................58
5.6: Impact of Marketing Mix Strategy ..................................................................................................59
5.7: Relationship between Marketing Mix and Brand Building .............................................................61
5.8: Future Market Opportunities for EPCIL..........................................................................................62

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5.9: Marketing Challenges from Strategic Point of View.......................................................................63
5.10: Summary........................................................................................................................................64
Chapter 6: Findings, Recommendations and Conclusion ...........................................................................65
6.1: Findings of critical Marketing Issues...............................................................................................65
6.2: Recommendations for EPCIL..........................................................................................................66
6.3: Conclusion .......................................................................................................................................67
References...................................................................................................................................................68

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Chapter 1: Introduction
1.1: Background of the Study
Internship is an integral and valuable part of the BBA program, facilitating students in acquiring
firsthand experience within a business setting. Its significance lies in bridging the gap between
theoretical knowledge and its practical application as interns engage with real-world scenarios.
This internship report has been prepared under the direct guidance of Mr. Mohammed Shahedul
Quader, an esteemed Associate Professor in the Department of Marketing at the University of
Chittagong. Utmost care and diligence have been taken to furnish this report with up-to-date data
to enhance its informative value and simplify comprehension of actual business intricacies.
1.2: Scope of the Study
The scope of the study is strictly confined to marketing-related activities of Elite Paint &
Chemical Industries Ltd. (EPCIL). This study also covers information about the paint industry of
Bangladesh. The information provided in this study is collected from the employees of the
company as well as from public domains. The report provides a concise explanation of each
element within the marketing mix framework, emphasizing the tactics employed by the
organization.
1.3: Justification of the Study
The study on the Marketing Mix Strategy of EPCIL is justified due to the importance of
marketing in today's competitive business landscape. The company can optimize its marketing
strategies by understanding how different marketing elements like product, price, promotion, and
place influence customer value. This study aims to examine the impact of each element on the
company's marketing performance to provide valuable insights for developing more effective
marketing campaigns, improving customer satisfaction, and gaining a competitive edge in the
marketplace.

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1.4: Objectives of the Study
1.4.1: Broad Objective
The objective of this study is to evaluate the marketing mix strategies implemented by Elite Paint
& Chemical Industries Ltd. (EPCIL) and assess their impact on the company‟s marketing
performance. By achieving these objectives, the study aims to provide valuable insights and
recommendations to EPCIL for enhancing their marketing mix strategies, attracting more
customers, retaining them by improving customer satisfaction.
1.4.2: Specific Objectives
1. Analyze the product strategy of EPCIL, including the product range, features, and
branding, to determine its effectiveness in meeting customer needs and preferences.
2. Evaluate the pricing strategy employed by EPCIL, assessing the pricing structure,
discounts, and value perception to determine their impact on market competitiveness.
3. Investigate the distribution strategy of EPCIL, examining the channels to determine their
efficiency in reaching target markets and satisfying customer demands.
4. Assess the promotional strategies utilized by EPCIL; including advertising, sales
promotions, and public relations activities, to understand their effectiveness in creating
brand awareness and influencing customer purchasing decisions.

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1.5: Research Methodology
The research is qualitative in nature. A combination of primary and secondary sources was
utilized to gather information. Multiple techniques ensured the research was informative and
comprehensive, including formal conversations and direct observation. Overall, employing
various methods and techniques was necessary to ensure the research was thorough and
informative. The exploratory approach enabled valuable data collection within the organization,
resulting in a comprehensive understanding of EPCIL.
Primary Sources
 Face to face discussions with company officials.
 Personal observation.
Secondary Sources
 The website of the company(https://www.elitepaint.com.bd)
 Various other websites
 EPCIL Bluebook
 Prospectus of EPCIL
 News Articles
 Trade Association
 Different journals and publications & research papers
 Professional media e.g., LinkedIn, Job sites, Industrial Societies & Sites
 Various social media platforms

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1.6: Limitations of the Study
Some obstacles that hindered the appropriate and complete achievement of objectives of this
report:-
 Shortage of time has been a major constraint for collecting, analyzing and summarizing
the findings of the study properly.
 Lack of access to published and reputed journals and other institutional reports have been
another constraint that hindered the full potential of the study.
 Unavailability of latest report by the formal trade body, Bangladesh Paint Manufacturer‟s
Association (BPMA) to understand the current market scenario.
 High level of privacy in the organization has limited the access to some crucial
information needed.
 As the report has been prepared through personal observation, the findings may be
subjected to personal bias.

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Chapter 2: Literature Review
2.1: Introduction
This literature review offers a comprehensive examination of the theoretical underpinnings and
prior studies in marketing. It explores various aspects of marketing, presenting an understanding
of the subject matter. By analyzing existing literature, this review seeks to highlight key findings
and provide a foundation for the current research.
2.2: Concept of Marketing
Marketing is the process by which businesses engage customers, build solid customer
relationships, and create customer value to obtain value from consumers in exchange. Today,
marketing should not be understood in the old sense of making a sell - “selling and telling”, but
in new sense of satisfying customer needs (Kotler et al., 2017). Marketing encompasses more
than just advertising products. It encompasses developing and managing products that effectively
meet customers' needs. Its core focus lies in effectively communicating the availability of the
appropriate product, ensuring it is accessible at the right price point. Additionally, marketing
involves promotional activities to convey the proper information to specific customer segments,
enabling them to assess whether the product aligns with their requirements (Pride & Ferrell,
2019). According to American Marketing Association (AMA), marketing can be seen of as an
activity, a collection of institutions, and a set of procedures that are used to create, communicate,
deliver, and exchange offerings that have value for consumers, clients, partners, and society as a
whole. Marketing refers to the processes emphasizing delivering value and benefits to
consumers instead of merely selling products, services, and/or concepts. It employs
communication, pricing, and distribution strategies to provide customers and other stakeholders
with the desired products, services, ideas, values, and benefits when and where they desire them.
Marketing also requires realizing that organizations have interconnected "partners," including
employees, suppliers, stockholders, distributors, and society (Lamb et al., 2017). Marketing is
best understood as the function that manages the organization's relationships with its customers
(Moorman & Rust, 1999).

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2.3: Role of Marketing
The simplest definition of marketing is Managing Profitable Customer Relationship. It aims to
create value for customers and build profitable customer relationship. The twofold goal of
marketing is to attract new customers by promising superior value and keep and grow current
customers by delivering satisfaction. In multiple ways, marketing contributes to the strategic
planning of an organization. First, it offers a guiding philosophy – the marketing concept –
which suggests that a company's strategy should focus on establishing profitable consumer
relationships. Second, marketing assists in identifying market opportunities and assessing the
company's resources to capitalize on them. Finally, marketing develops strategies for achieving
the business's goals. Marketing is crucial in a company's strategic planning, providing a
marketing concept philosophy and valuable insights on appealing market opportunities. At the
business unit level, marketing is vital in designing strategies to achieve the unit's objectives and
ensuring their profitable implementation. It is important to note that marketers cannot single-
handedly create exceptional customer value. Instead, they must engage in partner relationship
management, collaborating closely with counterparts in other departments to establish an
efficient value chain that effectively serves the customer (Kotler et al., 2017). Organizations
engage in marketing to facilitate the transfer of goods, services, and ideas in exchange for
something valuable. This process requires the involvement of two or more individuals, groups, or
organizations, each possessing something desirable to the other party. The exchange should
result in mutual benefit and satisfaction for both parties involved. Trust and confidence in the
promised value are crucial for successful exchanges. Marketing activities aim to establish and
nurture satisfying relationships by meeting the parties' expectations (Pride & Ferrell, 2019).

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2.4: B2B Market
Business markets are comprised of all businesses, organizations, and government entities that
purchase and sell large quantities of raw materials, manufactured components, plants and
equipment, supplies, and services to develop products for other businesses and consumers. Any
company that provides components for products operates in the business-to-business (B2B)
sector. In contrast to consumer markets, business markets typically have fewer buyers, but these
buyers are large in the volume of purchases. The customer-supplier relationship in business
markets is usually closed, and the buyers are often geographically concentrated. The demand in
the consumer market influences the demand in the business market and is subject to fluctuations
according to the business cycle. However, it is worth noting that the total demand for many
business goods and services tends to be relatively insensitive to changes in price, displaying
price inelasticity. Similar to consumer marketing, the basic goal of business marketing is to
create market value by creating offerings that satisfy the needs of business customers (Kotler et
al., 2022). B2B Marketing, or Business Marketing or Industrial Marketing, is the practice of
marketing goods or services to other businesses or organizations. In B2B marketing, the
customer is a corporation or organization, not an individual consumer or shopper, even though
the products or services purchased may be similar or identical (Hall, 2022). Business purchases
typically involve more decision-makers and a more organized buying process than consumer
purchases. Typically, business buyers confront more complex purchasing decisions than
consumer buyers (Kotler et al., 2017). Effective business-to-business marketing necessitates
marketers to identify the specific types of companies to target and determine the key individuals
within the buying centers of those organizations. Additionally, in their sales efforts, business
marketers can also consider the customers of their customers, known as end users. The buying
process in business markets encompasses eight stages: problem identification, description of
needs, specification of products, search for suppliers, solicitation of proposals, selection of
suppliers, negotiation of contracts, and performance review. Business marketers need to ensure
that the value of their offerings is effectively communicated and evident throughout each stage of
the buying process (Kotler et al., 2022).

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2.5: Marketing Mix
The marketing mix is the combination of tactical marketing tools that a company employs to
achieve the desired response from its target market. The marketing mix includes everything a
company can do to engage consumers and convey value to customers (Kotler et al., 2017). The
four Ps of marketing is a marketing concept that summarizes any marketing strategy's four most
important components. According to American Marketing Association (AMA), the four Ps are:
product, price, place, and promotion. To deliver on its value proposition, the company must first
develop a product that satisfies a market need. The organization must then determine how much
it will charge for the offering (price) and where it will make the offering available (place).
Lastly, it must engage target consumers, communicate about the offering, and convince
consumers of its value (promotion) (Kotler et al., 2017). Product is the key element of marketing
mix; it is the core driver of customer benefit and the reason why customers are willing to buy a
specific offering (Kotler et al., 2022). Marketing managers aim to develop and maintain the right
mix between the variables; product, price distribution, and promotion that aligns with the needs
of their target customers. They must gather comprehensive information about their customers'
needs beforehand to achieve this (Pride & Ferrell, 2019). Effective marketing mix management
enables marketers to create a combination of elements that will enable wisely manage the
company's budget in order to achieve the desired objectives Išoraitė, (2016).
2.6: Marketing Process
The marketing process is a simple five-step Model for creating and capturing customer value. In
the first four steps, businesses work to understand consumers, create value for customers, and
establish solid customer relationships. The last stage involves capturing value through sales,
market share, and profits. In the first stage, the company obtains a comprehensive understanding
of the market by researching customer needs and managing marketing data. The company then
formulates a customer-centric marketing strategy based on the responses to two straightforward
questions. The initial query (market segmentation and targeting) is "What consumers will we
serve?". The second query regarding marketing strategy is, "How can we best serve our targeted
customers?" (differentiation and positioning). In this section, the marketer outlines a value
proposition describing the company's benefits to attract target consumers. Having selected a

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marketing strategy, the company now develops an integrated marketing program comprised of a
combination of the four marketing mix elements, the four Ps, that convert the marketing strategy
into actual value for the customer. The previous three stages form the basis of the fourth stage,
where the company designs promotional programs that engage target customers, communicate
the value proposition, and persuade customers to purchase the market offering. Finally, in the
last stage, the company reaps the rewards by capturing value from customers in return (Kotler et
al., 2017).
2.7: Implications of Marketing Mix Strategy
The goal of marketing is to create value and build profitable customer relationships. Marketing
strategy is the logic by which the company hopes to create value and build profitable customer
relationships. In marketing strategy, the company decides which customers it will serve and how
it will create a differential value and make a unique position in customers' minds. Then, guided
by marketing strategy, it designs a marketing program to deliver the intended value to the
customers. The marketing program consists of decisions regarding the four marketing mix
elements: Product, Price, Place and Promotions. This marketing program builds customer
relationships by transforming the marketing strategy into action, where the firm uses the 4Ps to
implement the marketing strategy. A well-integrated marketing program, consisting of a blend of
4 elements, transforms marketing strategy into real customer value. While designing a marketing
mix strategy, the company first decides on the product it will offer to the targeted customers to
satisfy their needs. Then it decides on the product's price and how the company will make it
available, which refers to the place element. Finally, the company decides on how it will
communicate the value it offers to the customers and persuade them to purchase the market
offering (Kotler et al., 2017). Marketing mix decisions should exhibit consistency and flexibility,
serving as key characteristics. It is crucial for all marketing mix decisions to align with the
strategies of the business unit and the overall corporate objectives. Such consistency ensures that
the organization can effectively achieve its goals across all levels of planning. Additionally,
flexibility is necessary to adapt the marketing mix to changes in marketing conditions,
competition, and customer demands. Adjusting the marketing mix enables organizations to
maintain a sustainable competitive advantage. A sustainable competitive advantage is
characterized by being unreplicable by competitors in the foreseeable future. Maintaining this

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advantage necessitates flexibility in the marketing mix when confronted with uncertain
competitive landscapes (Pride & Ferrell, 2019).
2.8: Marketing Philosophy
In the marketing field, five fundamental philosophies or concepts shape marketing strategies, as
identified by the authors of Kotler et al. (2017). These concepts include the production concept,
product concept, selling concept, marketing concept, and societal marketing concept.
1. The production concept emphasizes that consumers prefer readily available products
offered at affordable prices. Consequently, organizations following this concept focus on
enhancing production and distribution efficiency to meet consumer demands.
2. The product concept centres on consumers favouring products that exhibit high quality,
superior performance, and desirable features. As a result, organizations embracing this
concept dedicate their efforts to continuous product improvements to meet and exceed
customer expectations.
3. The selling concept posits that consumers may only purchase sufficient quantities of a
company's products if the firm undertakes extensive selling and promotion activities. In
this approach, organizations prioritize aggressive sales tactics to drive consumer demand.
4. The marketing concept, a philosophy widely embraced by companies, asserts that
achieving organizational goals relies on understanding the needs and desires of target
markets and delivering superior customer satisfaction compared to competitors. This
customer-focused approach, driven by delivering value to customers, forms the
foundation for generating sales and profits.
5. The societal marketing concept emphasizes that a company's marketing decisions
should consider not only consumers' wants and needs but also the long-term interests of
the company and society. This concept encourages companies to adopt a more socially
responsible marketing approach, taking into account the ethical and environmental
implications of their actions.

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2.9: Summary
This literature review provides a comprehensive examination of key concepts in marketing. It
covers the concept of marketing, its role in strategic planning, the B2B market, the marketing
mix, the marketing process, implications of marketing mix strategy, and marketing philosophies.
The review highlights the importance of customer value, relationship building, market
segmentation, targeting, differentiation, and positioning by analysing existing literature.

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Chapter 3: An Overview of Paint Industry in Bangladesh
3.1: Introduction
This chapter provides a concise overview of the paint industry in Bangladesh, shedding light on
its key characteristics and dynamics. The discussion encompasses various aspects, including
market share, growth drivers, economic contributions, and potential for future development. A
comprehensive understanding of the industry's current state and potential emerges by presenting
relevant statistics and citing authoritative sources.
3.2: Features of Paint Industry in Bangladesh
Paints are coloured substances that, when applied on metallic and non-metallic surfaces and
allowed to dry, leave a thin coating that can be used for decorative (aesthetics) and protective
(humidity, air, sunlight, Etc.) purposes.
The current market size of the paint market stands at Tk. 4500 crore (Uddin, 2023). Moreover,
the market is projected to expand at 10 to 12 percent per annum, driven by the potential for
increased consumption supported by economic growth (BPMA, 2019).
The annual consumption rate of paint in Bangladesh amounts to 180,000 metric tons. The major
centers for paint manufacturing in Bangladesh are Dhaka and Chittagong (Chowdhury, 2019).
Total Paint Market Size Tk. 4500 crore
Annual Market Growth 10-12%
Decorative Paints 82%
Protective Coating/ Industrial Paint 8%
Marine Paints 5%
Others 5%

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In Bangladesh, the paint sector can be broadly classified into three segments: Decorative Paints,
Industrial Paint/Protective Coating, and Marine Paint. As the Bangladesh Paint Manufacturer's
Association reported, decorative paints dominate the market with 82% market share. On the
other hand, protective coatings/industrial paints and marine paints account for 8% and 5% of the
market share, respectively (BPMA, 2019).
The products that hold the largest market share are plastic emulsion, distemper, weatherproof
exterior varnish, and synthetic enamel. Plastic emulsion and distemper are equivalent substitutes
(Chowdhury, 2019).
Lead levels of up to 90 ppm (parts per million) are permitted for paint manufacturers, per
Bangladesh Standard and Testing Institute (BSTI) directives.

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3.3: Evolution of Paint Industry in Bangladesh
The paint manufacturing industry in Bangladesh traces its origins back to the pre-liberation era,
specifically in 1952, with the establishment of EPCIL. Before this, the demand for paint in the
region was primarily met through imports. In 1953, Roxy Paints Ltd., another local company,
commenced paint production in Bangladesh. Berger Paints, which had been importing their
paints from their UK subsidiary since 1950, became the first multinational corporation (MNC) to
set up a manufacturing unit in Bangladesh in 1972. Subsequently, in 2002, Asian Paints
established its manufacturing plant in Bangladesh. Over the past decade, the paint industry in
Bangladesh has witnessed remarkable growth, with its size nearly doubling.
This expansion can be attributed to a confluence of factors that have propelled the industry
forward:
1. The booming real estate sector, driven by urbanization and increased demand for
housing, has created a significant need for paints and coatings.
2. Heightened consumer awareness regarding the importance of safeguarding homes has
played a crucial role in driving the growth of the paint industry.
3. Factors such as the availability of home loans and the shift from semi-permanent to
permanent housing structures have further fueled the growth of the paint industry.
4. The development of the shipbuilding industry and sustained economic growth in the
country has provided additional avenues for expansion within the paint sector.
In summary, the remarkable growth of the paint industry in Bangladesh over the past decade can
be attributed to the flourishing real estate sector, growing consumer awareness, availability of
home loans, and transition to permanent housing structures, advancements in shipbuilding, and
sustained economic development. These factors have collectively created a favourable
environment for the industry's expansion, positioning it as a significant contributor to the
country's economic growth (Chowdhury, 2019).

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3.4: Paint Industry analysis
Threat of New Entrants
The threat of new entry in the paint industry is low due to the substantial entry barriers that exist.
The paint industry is capital intensive, demanding significant investments in facilities and
technologies. New entrants would need to allocate substantial resources to establish
manufacturing capabilities and develop efficient production processes. Additionally, a
considerable amount of working capital is necessary to operate effectively within the industry.
Moreover, existing players have already established strong brand identities and customer loyalty,
built over time through quality products and reliable services. They have also developed
extensive distribution channels, which further solidify their market position. These factors
collectively contribute to the high entry barriers in the paint industry.
Bargaining Power of Buyers
The bargaining power of buyers in the paint industry is relatively high. The main customers of
the industry are households and industrial users. For household purposes, buyers consist of
building contractors who make bulk purchases and end users who buy paint for their homes.
With numerous companies offering paint products for household use, customers have a wide
range of options to choose from. They are well-informed about alternative products, making
them highly price-sensitive and capable of exerting significant bargaining power. On the other
hand, industrial buyers in the paint industry are knowledgeable about their specific needs and
tend to compare prices before making purchasing decisions.
Bargaining Power of Suppliers
The bargaining power of suppliers in the paint industry is relatively high. Suppliers in this
industry primarily provide raw materials and components necessary for paint production. Paint
Companies heavily relies on foreign suppliers to source these raw materials, and the number of
firms worldwide that supply raw materials for the paint industry is limited. Moreover, the
suppliers of top-quality raw materials hold a considerable amount of bargaining power,
especially since the quality of these materials significantly impacts the final product's quality. So,
this reliance on a limited number of suppliers places Paint Companies in a vulnerable position
where suppliers can exert significant influence over pricing, terms, and availability.

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Threat of Substitute Products and Services
The threat of substitute products for paint in the paint industry is relatively low. This is
especially true in industrial and marine segments where there are limited direct substitute
alternatives to paint products. However, within the interior part of the decorative segment, there
has been a recent trend towards the increased use of wallpaper as a substitute for decorative
purposes. Although paints remain the preferred choice for residential constructions, wallpapers
have gained popularity in various settings such as restaurants and corporate offices. Particularly
among younger customers, wallpapers are being explored for interior design due to their wide
range of designs, customization options, and aesthetic appeal. This growing preference for
wallpapers poses a potential threat to paint Companies in the interior segment, as it represents an
alternative choice for customers seeking decorative solutions. Overall, the threat of substitute
products is still relatively low, as wallpaper is yet to get mass acceptance as an alternative for
paint products yet.
Rivalry among Existing Competitors
Paint Companies operate in a fiercely competitive environment within the paint industry in
Bangladesh. The presence of numerous multinational corporations (MNCs) and local companies
creates intense rivalry as they compete for market share. The MNCs have significant capital
resources and access to advanced technology, allowing them to establish a strong market
presence. Consequently, companies within the industry find themselves battling for the same
customer base with similar paint products. With low differentiation among paint offerings, the
rivalry further intensifies, prompting companies to seek competitive advantages. This intense
competition often translates into a highly competitive pricing environment, where companies
strive to attract customers through competitive pricing strategies.
Fig: Paint Industry Analysis of Paint Industry
Competitive Forces Impact
Threat of New Entrants Low
Bargaining Power of Buyers High
Bargaining Power of Suppliers High
Threat of Substitute Products and Services Low
Rivalry among Existing Competitors High

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3.5: Paint Manufacturing Companies in Bangladesh
There are currently 40 enterprises registered with the Bangladesh Paint Manufacturers
Association (BPMA) that operate in Bangladesh. This list includes both multinational
corporations and domestic firms. In terms of market dominance, multinational corporations
(MNCs) hold a significant position; where Six Multi-National Companies (MNC), namely
Berger Paints, Asian Paints, Nippon Paint, Kansai Nerolac, Akzonobel in collaboration with
ACI, and Jotun Paint, collectively control 82% of the total market share. On the other hand, eight
major local companies and other smaller players are holding the remaining 18% of the market
share (BPMA, 2019). Some major paint companies are Elite Paint, Rainbow Paints, Roxy Paints,
Aqua Paints, Ujala Paints etc.
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.
In the current market scenario, it is observed that multinational corporations (MNCs) in the paint
industry of Bangladesh are expanding their operations. In contrast, most local companies face
challenges in sustaining their businesses due to a lack of long-term planning, innovation,
specialization, research, and funding among the local companies (Uddin, 2023).
The Overview of some major companies of paint industry in Bangladesh is given bellow:-
 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.
This MNC 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).

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 Asian Paints Bangladesh Ltd
Asian Paints Bangladesh Ltd. started its journey in the year 2002 as a joint venture with
Confidence Cement Ltd. This MNC holds the second-largest market share. Currently, Asian
Paints operates with a single factory and has a network of over 1,400 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).
 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 in
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
Roxy Paint 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 one of the successors of Late
Serajuddin Ahmed, who was the founder of EPCIL.

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 Ujala Paints
Ujala Paints is in operating in the Bangladeshi paint market since 2004. Ujala Paint is the
brand name 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.
 AkzoNobel
AkzoNobel is a leading global paint company hadquatered in Netherlands. In 2016,
AkzoNobel set up its manufacturing plant in Bangladesh with local conglomerate ACI
Formulations Ltd.

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Berger Paints
54%
Asian Paints
18%
Kansai Nerolac
7%
Elite Paint
6%
Rainbow Paints
4%
Nippon Paint
3%
Roxy Paints
1%
Others
7%
3.6: Market Share of Paint Companies
Berger Paints Bangladesh Limited is the market leader in the paint industry of Bangladesh,
commanding a significant market share of 54%. EPCIL has the highest 6% market share among
local companies. Besides, Asian Paints has 18% market share, while Kansai Nerolac has 7%.
Rainbow Paints accounted for 4%, Nippon Paint for 3%, and Roxy Paints for 1%. The remaining
companies collectively possess 7% (Uddin, 2023).
Fig: Market share of paint companies in Bangladesh

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3.7: Role of Paint Industry in Bangladesh
Bangladesh's paints and coatings industry assumes a crucial role in advancing the country's
infrastructure by ensuring the preservation and safety of fixed assets. Manufacturers specializing
in protective coatings and paints contribute to the longevity of structures, effectively reducing
maintenance costs and making valuable contributions to the overall economy (Chowdhury,
2019). This industry not only serves as a facilitator of infrastructure development but also
actively supports the national economy. As highlighted by Uddin (2023), the paint industry in
Bangladesh generates substantial annual revenue of Tk. 700 crore through taxes and other
associated sources, thus contributing to the government's financial resources.
Furthermore, the paint industry is pivotal in generating employment opportunities within the
country. According to Uddin (2023), the industry is a livelihood provider for over 100,000
individuals directly and indirectly. By offering employment opportunities across various stages
of the paint production and distribution process, including manufacturing, marketing, and
distribution, the industry helps alleviate unemployment rates. It enhances the overall socio-
economic fabric of the nation.
In summary, Bangladesh's paints and coatings industry assumes a multifaceted role, both as a
catalyst for infrastructure development and a significant contributor to the national economy.
With its capacity to generate substantial government revenue and provide livelihoods for a
substantial workforce, the industry exemplifies its potential to foster economic growth, job
creation, and overall socio-economic development.

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3.8: Prospects of Paint Industry in Bangladesh
The paint sector in Bangladesh holds promising growth prospects, primarily driven by the
country's relatively low per capita paint consumption. Currently, the per capita paint
consumption stands at 1.1 kg, indicating a substantial gap compared to countries like India (4.2
kg) and China (nearly 9.0 kg) (Uddin, 2023). This disparity underscores the untapped potential
within the domestic paint market, which presents opportunities for companies and investors to
explore in the coming years.
One positive aspect of the paint industry is the rapid industrialization in Bangladesh. This
industrial growth is expected to create a demand for technologically advanced and high-end paint
products. Companies are increasingly introducing innovative paints that cater to specific needs,
such as those suitable for hospitals and other colour-sensitive areas. Additionally, fire retardant
paints are being utilized to mitigate fire-related incidents. These developments indicate the
industry's responsiveness to emerging market demands and willingness to provide specialized
solutions (Chowdhury, 2019).
In conclusion, the paint industry in Bangladesh is poised for growth, given the significant gap in
per capita paint consumption compared to other countries. The ongoing industrialization and the
introduction of technologically advanced and specialized paint products indicate a positive
outlook for the sector. By leveraging these opportunities and addressing the evolving market
demands, companies in the paint industry can tap into the untapped potential and contribute to
the further expansion of the sector.

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3.9: Summary
The paint industry in Bangladesh is valued at Tk. 4500 crore and is expected to grow at 10-12%
annually. It encompasses three main segments: decorative, protective coating/industrial paints,
and marine paints, with decorative paints holding the largest market share of 82%. This chapter
employs Porter's Five Forces model to analyze the industry, revealing low barriers to entry,
strong bargaining power of buyers and suppliers, limited substitute products, and intense
competition among existing players. Additionally, it discusses major paint manufacturing
companies, their market shares, and the industry's significant contributions to infrastructure
development, job creation, and economic growth. The industry's future looks promising due to
the country's low per capita paint consumption and the growing demand for specialized and
technologically advanced paint products. Through comprehensive analysis and reference to
authoritative sources, this chapter provides valuable insights into the dynamics and potential of
the paint industry in Bangladesh.

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Chapter 4: An Overview of Elite Paint and Chemical Industries Ltd.
(EPCIL)
4.1: Introduction
The Chapter provides insights into EPCIL's mission, vision, and organizational structure while
conducting a SWOT analysis to evaluate its internal strengths and weaknesses, as well as
external opportunities and threats. Additionally, it highlights EPCIL's brand values, market
dominance, and remarkable achievements, setting the stage for further exploration of the
company's journey.
4.2: Background of EPCIL
EPCIL and & Chemical Industries Ltd. (EPCIL) is one of the largest and leading paint
manufacturing company in Bangladesh. Founded in 1952, EPCIL was the first paint company to
be established in Bangladesh. The company started its operation from scratch with little capital,
simple machinery under the guidance of its founder chairman Late Mr. Serajuddin Ahmed. It
launched its business with a modest factory in Chittagong. EPCIL‟s primary aim was prioritizing
customer satisfaction by delivering high-quality products at competitive prices. Over the years,
this ethos coupled with perceptive marketing campaigns propelled EPCIL to the top of the
industry.
In 1964, EPCIL introduced "Lucky Seven" in Bangladesh, an oil-based paint that has been
synonymous with "rang" or paint for decades. In 1985, they established the "Alkyd Resin" unit
facility. It began manufacturing "Bontile" texture paint in 1990. The DOP unit (Dioctyl
Phthalate) began operations in 1991 to supply electric cables, plastic/polymer products, and the
leather and shoe industries as a general-purpose plasticizer.
In 1997, EPCIL introduced POS Color Tinting System "Colorfest", for the first time in
Bangladesh. It received ISO 2001-2015 and LEAD-SAFE certifications from SCS Global and
IPEN, food-grade certification for Epoxy coatings from BUET, and the "Best Employer Award"
from the World HRD Congress in 2017. In 2018, the company's powder coating unit went into
operation. In 2019, EPCIL initiated production of construction chemicals.

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4.3: Mission and Vision
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.
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.

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4.4: Company Profile
Name of the company Elite Paint and Chemical Industries Limited (EPCIL)
Legal form Private limited company
Origin Bangladesh
Establishment 1952
Chairman Mr. Feroz Ahmed
Products category Wide range of paints, coatings and construction chemicals
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 https://www.elitepaint.com.bd
Corporate office
Syed Grand Centre, (Level 8 & 12) Plot # 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.

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4.5: Organizational structure
Fig: Organogram of EPCIL
Board of
Directors
Management
Committee
Accounts,
Finance & VAT
CFO & CS-
Sr. Manager
Manager
Dy. Manager
Asst. Manager
Sr. Officer
Officer
Jr. Officer
VAT Asst.
Sales wing
Sales
Sr. GM
Addl.GM
GM
Sr. AGM
Sr. RSM
RSM
Sr. ASM
ASM
Honorary
Manger
Dy. Manager
Asst. Manager
ZI
Sr. SO
SO
ASO
EUA/SR
DSO
Business
Development
Sr. Manager
Sr. Officer
Officer
Distribution
Sr. Manager
Dy. Manager
Asst. Manager
Sr. Officer
Officer
Sr. CSO
CSO
SSO
ASSO
Marketing
Manager
Sr. Officer
Officer
Graphic
Designer
Service
Engineer
Dy. Manager
Ser. Eng
Color
Consultancy
Dy. Manager
Consultancy
HR, Admin &
Compliance
Sr. GM
DGM
Manager
Asst. Manager
Sr. Officer
Officer
Jr. Officer
FDO
Operations
Commercial
Sr. Manager
Asst. Manager
Officer
Sr. Jetty Sarker
Jetty Sarker
Chittagong
Factory
GM , Factory
Technical
Advisor
Sr. Manager
Consultant
Manager
Dy. Manager
Asst. Manager
Sr. Officer
Officer
Jr. Officer
Others
Permanent
Worker
Casual Worker
System Admin,
IT
Manager
Asst. Manager
Sr. Officer
Officer

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4.6: SWOT Analysis
SWOT analysis is a tried-and-true tool of strategic analysis. SWOT (strengths, Weaknesses,
opportunities, threats) analysis is used to initially evaluate the opportunities and threats in the
business environment as well as strengths and weaknesses of the firm‟s internal environment.
 Strength
1. Strong Brand Recognition
EPCIL has a distinct advantage in terms of brand recognition as the first ever paint
company to be established in Bangladesh. Over the years is has been able to establish
itself as a pioneer in paint industry.
Furthermore, EPCIL's well-designed marketing and promotional efforts have helped to
create a strong identity of its brand ELITE PAINT in the minds of customers. This has
enabled the company to maintain a successful presence as a major player in the highly
competitive paint industry for over seven decades, which is a testament to the strength of
its brand.
Overall, ELITE PAINT brand's strong recognition is a key factor for the continued
success of EPCIL, and it also represents a significant strength that sets the company apart
from its competitors.
2. Diversified product line
EPCIL's comprehensive product line represents a significant strength for the company,
offering a wide range of paint products across all three broad segments and their sub-
segments of paint products. It is the only paint company to have product line in
decorative, industrial, marine, powder coatings and construction chemicals.
Along with conventional paints it also manufactures special products such as paints for
road marking, swimming pool, sports court paints, hammer finish paint etc. Besides
construction many other industries such as electrical products, leather and shoe,
plastic/polymer rely on the product of EPCIL.
Overall, EPCIL's diverse product line is a significant strength that sets the company apart
from its competitors and positions it as a one-stop solution for all paint and coating needs.
This strength has contributed to the company's continued growth and success in the paint
industry.

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3. Product Quality
EPCIL products are always known for its quality. It has been able to retain its customers
for years by providing products with great quality. According to Superbrand magazine,
its „Bontile‟ texture finish paint ensure more than thirty years of protection. Company
officials say that, though most of the products have warranty of 10 years, they last for
more than 25 years. Because of its high quality the products of EPCIL has been used in
many landmark edifices such as Bongo Bhaban, Hotel Pan Pacific Sonargaon, Hotel
Raddison Blu, Balaka: Biman Bangladesh HQ and many more. EPCIL is one of the most
preferred brands in Government projects.
4. Wide Distribution Network
This well-established network of dealers and retailers allows EPCIL to efficiently and
effectively supply its products to any location in the country, thereby enhancing its
market reach. EPCIL's extensive distribution network and strategically located depots
represent a significant strength for the company, providing a competitive advantage in
reaching customers throughout Bangladesh.
5. Compliance and Certifications
Along with the durability and quality of the products, EPCIL also ensured that its
products are safe for both human health and environment. EPCIL has achieved various
certifications from multiple global organizations because of its compliance. A few of
prominent ones are mentioned bellow:
 ISO 9001:2015 from International Quality Control Organization; EPCILwas the
first paint company in Bangladesh to achieve this certification.
 Lead Safe Paint® from IPEN; EPCIL was the first paint company in Bangladesh
to achieve this certification.
 Food Grade Certification for Epoxy paints From BUET.

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6. Experience in Paint Market
One of EPCIL's key strengths is its extensive 71-year experience in the Bangladeshi paint
market, which provides the company with valuable insights and knowledge about the
local market. EPCIL's long-standing presence in the Bangladeshi paint market has
allowed the company to establish strong relationships with suppliers, distributors, and
customers, which can be leveraged to gain a competitive advantage.
7. Awards
EPCIL's numerous awards and accolades, including the Superbrand Award, are a
significant strength for the company. According to the Superbrand website, "A
Superbrand offers consumers significant emotional and/or physical advantages over it's
competitors which (consciously or sub-consciously) consumers want, recognise, and are
willing to pay a premium for." EPCILhas won the Superbrand Award three times
consecutively for years 2020-2021, 2021-2022, and 2022-2023, which highlights the
company's ability to provide exceptional value to its customers. Moreover, EPCILhas
won “Best Employer Award” from World HRD Congress in 2017.
Overall, EPCIL's recognition through prestigious such awards is a significant strength
that sets the company apart from its competitors and reinforces its position as a leader in
the industry.
 Weakness
1. Low Market Share
EPCIL currently holds a 7% market share in the highly competitive paint industry of
Bangladesh, while its direct competitors Berger and Asian have established a strong
presence with 50% and 18% market shares, respectively which shows that they are well
ahead of EPCIL in terms of market share.
2. High cost of Raw Materials
Paint industry mainly depends on import for the source of raw materials. EPCIL imports
most of its raw materials from foreign countries which accounts for a significant amount
of cost for the company. Due of this, it becomes difficult to maintain low consumer
prices while yet ensuring EPCIL's profitability.

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3. Limited Promotional Activities
EPCIL faces a weakness in terms of its limited promotional activities targeted towards
end-users. In comparison to other major competitors in the market, EPCIL's insufficient
promotional efforts may result in a loss of front-of-mind attention among end-users. This
can lead to reduced brand awareness, lower customer engagement, and ultimately, a
decrease in market share.
4. Back Dated facilities and High Production Cost
EPCIL faces a significant weakness in terms of its facilities, which are outdated and may
not meet modern industry standards. This hinders the company's ability to compete
effectively in the market. Outdated facilities may result in inefficiencies, lower
productivity, and difficulties in meeting customer demands for quality and timely
delivery which in turn increases production costs.
 Opportunities
1. Increase in Housing Demand and Growth of Real Estate Sector
According to The Daily Star, the real estate industry is expected to rise by 15% to 17%.
Additionally, according to projections from the most recent census, the overall housing
demand will be 1.14 million units by 2030 compared to 2020's 0.8 million units.
(HAQUE & RAHMAN, 2021). The exponential growth rate of the real estate sector,
along with the projected increase in housing demand, presents a significant opportunity
for EPCIL to solidify its position as a leading paint supplier.
2. Growing Shipbuilding Industry
EPCIL has good opportunity for to gain a stronger foothold in the marine paint market.
Bangladesh's shipbuilding sector is beginning to make its mark in the global market for
small and medium seagoing vessels. Although the industry primarily serves the domestic
market, during the past decade, exports have been growing adequately. According to
Bangladesh Investment Development Authority (BIDA), the industry is
currently growing at the rate of 5% and The World Bank estimates that the shipbuilding
industry will grow at 10-15% per annum on average for the next ten years.

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3. Youth Demand for Premium Paints
The increasing number of young people becoming homeowners and actively involved in
decisions regarding paint types and shades presents a significant opportunity for EPCIL.
This younger generation is highly aesthetically aware and seeks premium paint products
to meet their design preferences. By recognizing this trend, EPCIL can capitalize on the
growing demand for high-quality and visually appealing paint products.
 Threats
1. Import Dependency and Price Volatility of Raw Materials
The high import dependency of raw materials poses a significant threat to EPCIL.
Relying heavily on imported raw materials makes the company vulnerable to various
external factors such as international trade policies, currency exchange rates, and
geopolitical tensions. Any disruptions in the global supply chain or sudden price
fluctuations can significantly impact the availability and cost of raw materials for EPCIL.
This can lead to production delays, increased costs, and potential difficulty in meeting
customer demand.
2. Expansion by Competitors
Competitors in Bangladesh's paint sector are aggressively pursuing expansion plans by
making large expenditures in the construction of new facilities. With this expansion, they
can now serve a wider range of customers in addition to increasing their manufacturing
capacity. This poses a serious danger to EPCIL because it runs the risk of losing market
share to rivals who can now better satisfy customers' increasing needs.
3. New Entry by Renowned MNCs
The entry of global paint market players like AkzoNobel and Jotun into the Bangladeshi
market poses a significant threat to EPCIL. These established international companies
bring with them extensive resources, well-known brands, and a wealth of experience in
the paint industry. As they enter the market, they can potentially capture a significant
portion of the market share, posing direct competition to EPCIL. This threat is further
amplified by the potential advantages these global players may have in terms of
technological advancements, product innovation, and marketing capabilities.

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4.7: Brand Values of EPCIL
EPCIL, a prominent industry leader, has established and maintained its market dominance
through its unwavering commitment to innovation. The company has expanded upon its initial
success by continuously introducing novel ideas, products, and solutions, solidifying its position
as a thriving enterprise. EPCIL takes pride in offering excellent value for money, exemplified by
its extensive range of products designed to cater to diverse consumer needs.
EPCIL has been at the forefront of pioneering advancements within the Bangladeshi market. The
company has introduced numerous "First of Firsts" products, contributing to the growth of
Bangladesh's flourishing economy. Setting a benchmark for quality and management, EPCIL is
among the first paint companies in the country to attain the prestigious QMS ISO 2009-2015
certification.
Furthermore, EPCIL remains dedicated to environmental preservation. For over five years, the
company has consistently produced "lead-safe" coatings, underscoring its commitment to
safeguarding the well-being of both consumers and the environment. Recognized by
internationally renowned organizations, EPCIL's products have received certification as lead-
safe, setting them apart from competitors.
Currently, EPCIL is actively bolstering its organizational capabilities and market position to
meet the nation's future demands. The company supports Bangladesh's transition from a
moderate to a robust economy as a development partner. EPCIL stands united with the people of
Bangladesh, striving to contribute to their progress and prosperity.

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4.8: Market Condition and Present Achievements
EPCIL has always been and still is the leader in the market. Bangladeshi paint industry is
dominated by foreign companies. Still EPCIL has been able to hold a major position in the
competitive landscape due to its product quality and loyal customer base. EPCIL 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. While most companies are put much emphasis on
decorative segment, EPCIL has a very strong hold in industrial and marine segment. Its Enamel
paint, "Lucky Seven", has been a synonym for "rong" or paint for several decades in this country.
"Master Coat" is the highest-selling brand in the exterior emulsion paint category, giving many
establishments a colourful facelift. "Bonntile" texture paint ensures more than 30 years of
protection with aesthetic value. The key products of EPCIL that hold the major market shares are
plastic emulsion, distemper, weatherproof, synthetic Enamel, Etc.
Their paint lines extend towards various industries, including the leather industry. Bangladeshi
electric cables, plastic/polymer products, leather, and shoe manufacturers rely on "DOP" from
EPCIL, GEM Plant, and Energypac rely on "insulating paint" from EPCIL to produce world-
class electrical transformers. EPCIL also introduced Distemper Plastic paints and Enamel
separately for tinting to offer vibrant shades in an economy range.
A host of prestigious establishments has adorned their edifices with EPCIL products. These
include the Bongo Bhaban, Hotel Pan Pacific Sonargaon, Hotel Radisson Blu Water Garden and
Bay View, Balaka: Biman Bangladesh Headquarters, and many more. Especially projects by
most prestigious real estate companies regularly use decorative products by EPCIL. Corporate
buyers like Bangladesh Navy Western Marine, Chittagong, Khulna Shipyards Ltd. and many
small and medium shipping and shipbuilding companies rely on the "Marelite" marine paint
brand of EPCIL. EPCIL has a long list of industrial paint; many industries are widely dependent
on their regular supplies.

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4.9: Present Plan for Market Development
EPCIL began producing power coating in 2018 and subsequently diversified its offerings in 2019
by introducing the "Super Strength Multipurpose Admixture," targeting the construction
chemicals market.
To significantly augment their production capacity, EPCIL is currently in the midst of a BMRE
expansion project at their Chittagong factory, with the ambitious goal of tripling their output
within a year. Additionally, the company has secured a seven-acre land allocation in Gazipur,
intended to establish a second unit factory in Dhaka. Moreover, diligent efforts are being made to
enhance internal processes, optimizing operational efficiency.
4.10: Summary
This chapter comprehensively overviews EPCIL and Chemical Industries Ltd. (EPCIL),
Bangladesh's prominent paint manufacturing company. Established in 1952, EPCIL has earned a
commendable reputation within the industry due to its unwavering dedication to customer
satisfaction and consistently delivering high-quality products. The chapter delves into EPCIL's
organizational structure, mission, and vision, highlighting its strategic approach to business
operations. Moreover, it conducts a thorough SWOT analysis, examining the company's internal
strengths and weaknesses and external opportunities and threats. By emphasizing EPCIL's brand
values, market dominance, and notable accomplishments, the chapter sets the stage for a deeper
exploration of the company's remarkable journey.

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Chapter 5: Marketing Mix strategy of EPCIL from B2B Perspective
5.1: Introduction
The chapter comprehensively analyzes EPCIL's marketing mix strategy within business-to-
business (B2B) transactions. EPCIL, as a prominent paint manufacturing company in
Bangladesh, has strategically employed its product, price, promotion, and distribution channels
to establish a strong market position. This chapter examines the specific strategies EPCIL
employs to meet the needs of its B2B customers. Through an in-depth exploration of EPCIL's
product portfolio, pricing tactics, promotional activities, and distribution networks, this study
seeks to identify the key factors contributing to the company's success in the B2B sector.
Furthermore, the chapter also includes an analysis of the consumer market to ensure relevance
and consistency in EPCIL's overall marketing approach.
5.2: B2B Market of EPCIL
EPCIL predominantly operates within the B2B market, focusing on indirect sales to end
consumers through retailers and dealers. Its customer base in the real estate sector of Bangladesh
is extensive, with construction companies accounting for a significant portion of EPCIL's sales.
Notable clients in the construction sector include BTI, Bashundhara Group, and Equity Property
Management Ltd., among others.
Corporate business firms also play a substantial role in EPCIL's B2B market. These private
sector companies rely on EPCIL's paint products for various applications in their factories,
offices, and establishments. Both decorative and industrial-purpose paints are purchased from
EPCIL by corporate clients such as BSRM, KSRM, Pran RFL Group, Apex, BRAC, Ispahani
Group, Square Group, S. Alam Group, Bengal Group, KDS, Beximco, Abul Khair Group, MGI,
Radiant Pharmaceuticals, Youngone, KAFCO, and more.
The marine sector constitutes another significant segment within EPCIL's B2B market. Marine
paint products are used to construct and maintain sea-going vessels in Bangladesh's shipyards.
Notable corporate buyers of EPCIL's marine paint include the Bangladesh Navy, Western
Marine Shipyard Ltd., and Khulna Shipyard Ltd.

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EPCIL also serves clients in the hospitality industry, with renowned international hotels such as
Raddison Blu and Pan Pacific Sonargaon among its customers. These hotels rely on EPCIL's
products for regular facility renovations. Notably, EPCIL supplies unique color shades
exclusively to Pan Pacific Sonargaon, ensuring the maintenance of an exclusive ambiance.
Government sector clients also form a significant portion of EPCIL's customer base. EPCIL has
provided quality products for various government projects, serving organizations such as
Bangladesh Telecommunication Company Ltd., Local Government Engineering Department
(LGED), Bangladesh Export Processing Zone Authority (BEPZA), the Roads and High
Department, Bangladesh Power Development Board, Bangladesh Railway, Bangladesh Border
Guard, Bangladesh Chemicals Industries Corporation (BCIC), and others.
In summary, EPCIL primarily operates in the B2B market, selling its products to retailers,
dealers, and intermediaries. Its customer base encompasses construction companies, corporate
business firms, shipyards, international hotels, and government entities.

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5.3: Marketing Philosophy of EPCIL
EPCIL, a company focused on marketing its diverse portfolio of products, adheres to the
marketing concept in formulating its strategies. By understanding consumers' and business
customers' needs and desires, EPCIL ensures that its new product offerings cater to their specific
requirements. Through its wide range of products, EPCIL aims to provide solutions for various
paint purposes, effectively meeting the diverse needs of its customer base.
To ensure customer satisfaction, EPCIL places great emphasis on delivering high-quality
products. Throughout production, the company meticulously conducts numerous quality checks,
ensuring that only the finest products are selected for shipment. This commitment to quality
demonstrates EPCIL's dedication to meeting customer expectations and maintaining their trust.
In addition to product quality, EPCIL recognizes the significance of affordability and
accessibility. The company sets its prices at a level that is accessible to its target customers,
making its products attainable and appealing. Furthermore, EPCIL establishes a widespread
distribution network that spans the country, ensuring its products are readily available to its
target audience. By making its products easily accessible, EPCIL aims to enhance customer
convenience and satisfaction.
EPCIL strives to provide superior value to its customers by integrating all of these efforts. The
company's marketing philosophy prioritizes customer needs and wants, aligning its strategies
with market demands. EPCIL's customer-focused approach emphasizes the importance of
delivering satisfaction and value that surpasses its competitors. Through continuous product
improvements, affordable pricing, and extensive distribution, EPCIL aims to establish itself as a
reliable and trusted brand that consistently meets customer expectations.
In summary, EPCIL's marketing philosophy is rooted in the customer-centric approach to the
marketing concept. The company's strategies are driven by a deep understanding of customer
needs and desires, leading to the development of new products and a diverse portfolio that caters
to various paint purposes. With a focus on quality, affordability, and accessibility, EPCIL aims to
deliver superior value to its customers and establish a strong position in the market.

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5.4: Marketing Mix Strategy of EPCIL
5.4.1: Product
Product Development and Production Process of EPCIL:
EPCIL has established its own research and development (R&D) department in Chittagong,
equipped with a well-resourced laboratory staffed by experienced chemists and specialists.
In order to enhance its technical capabilities, EPCIL has formed technical collaborations with
renowned companies such as DNT of Japan and Crown Berger of the UK. These collaborations
strengthen the company's technical expertise and provide access to advanced knowledge in the
industry. Notably, EPCIL has recently partnered with Transocean Coatings of the Netherlands to
venture into producing marine paint for ocean-going vessels.
Regarding sourcing raw materials, EPCIL relies on top suppliers worldwide, ensuring the
quality and reliability of its inputs. While some ingredients are manufactured in-house, the
company maintains a stock of raw materials up to a certain level to meet production demands.
Manufacturing of paints occurs exclusively in EPCIL's factory in Chittagong.
The manufacturing process is initiated for products targeted at individual customers before
distribution through various sales channels. However, for industrial products, manufacturing
commences only upon receipt of an order from an industrial customer. This approach helps
minimize the risks associated with shelf life and ensures customized products can be tailored to
meet specific customer requirements.
Fig: Paint Manufacturing Process

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Certain raw materials are used directly during the production process at EPCIL, while others
undergo prior processing before being transferred to the thinning tank for paint manufacturing.
Quality control and quality assurance functions are performed twice: first, during the production
process, and second, immediately after production. If the paint meets the required quality
standards, it is passed through the filling machine to be poured into containers of various sizes.
EPCIL 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:
Fig: Product Segment of Paint Sector
EPCIL's key product strategy is catering to local requirements by offering various paints.
EPCIL's strategic focus lies in providing a comprehensive range of paints that caters to diverse
local requirements. Consequently, the company has developed an extensive product line
encompassing all sub-categories. This wide range of products enables EPCIL to effectively serve
most paint and coating needs in the market, meeting the demands of its customers.
Product
Segments
Decorative
Paint
Water Base
Oil/ Solvent
Base
Powder Base
Industrial
Paint
Oil/ Solvent
Base
Epoxy Base
Marine Paint
Oil/ Solvent
Base
Epoxy Base

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The product portfolio of EPCIL based on segments is given bellow:
Decorative Paint
 Interior
 Silk Deluxe
 Plastelite Plastic Emulsion
 Rebelite Synthetic Paste Distemper
 Illumina Glitter
 Illumina Top Coat
 Bontile Texture Paint
 Exterior
 Master Coat (Premium Quality Weather Proof)
 Smooth Exterior
 Supreme Elitecem
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
Marine Paint
 Elite Marine Paint
 Marelite Marine synthetic Enamel Paint
(Several Types)

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Wooden Surface Paint
 Synthetic Clear Varnish
 Yacht Varnish
 Supreme Copal Varnish
Elite Care
(Construction Chemical Products)
 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
Metal Surface Paint
 Lucky 7
 Quick Drying
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

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EPCIL has a POS Color Tinting System named Color Fest which offers a wide spectrum of
shades. This system was first introduced in Bangladesh by EPCIL 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‟, EPCIL 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. EPCIL 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.

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5.4.2: Price
In EPCIL'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. EPCIL's
pricing approach encompasses a combination of cost-based pricing and consideration of
competitor prices.
To determine the final price, EPCIL employs a cost-based pricing strategy, which involves a
comprehensive analysis of the total cost of manufacturing the paint. This analysis includes raw
materials, labor, 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, EPCIL also considers competitor prices. Given the highly
competitive nature of the paint industry, where most companies offer similar products, EPCIL
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, EPCIL can position its products strategically to remain attractive
and compelling to its target customers.
Moreover, EPCIL 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. EPCIL 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 the
commission or discount they receive. It incentivizes dealers and retailers to actively promote and
sell EPCIL's products.
When selling directly to industrial buyers, EPCIL 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.

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Regarding pricing structure, EPCIL'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, EPCIL'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, EPCIL 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.

55 | P a g e
5.4.3: Place
Fig: Depot Locations of EPCIL
The place element, also known as distribution, is a crucial component of the marketing mix for
EPCIL, contributing significantly to its success and survival as a significant player in the
industry. EPCIL has meticulously focused on establishing an extensive distribution network to
ensure nationwide coverage and reach customers in every corner of the country. With over 3500
dealers and retailers across Bangladesh, the company has strategically positioned itself to
distribute its products effectively.
To facilitate the distribution process, EPCIL 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.

56 | P a g e
EPCIL 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 EPCIL 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, EPCIL can streamline the distribution process, enabling efficient delivery to
the end customers.
3. Depots-End Users: EPCIL 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. EPCIL 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 EPCIL 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. EPCIL 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 EPCIL signifies
its commitment to serving the corporate sector, industrial buyers, and government
entities. Through this channel, EPCIL 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, this approach not only streamlines the distribution process but also
provide cost benefit to the buyers by reducing the commissions typically associated with
intermediaries.

57 | P a g e
Moreover, EPCIL 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 EPCIL's customer-centric approach and
adaptability to different market segments.
5.4.4: Promotion
EPCIL employs various promotional strategies to reach its customers and trade partners. For
dealers and retailers, sales promotion techniques are utilized.
 Allowances: EPCIL provides a 15% discount off the list price for large quantities of
products.
 Dealer sales contests: EPCIL organizes sales contests, setting annual sales targets for
dealers and offering rewards such as sales bonuses, commissions, money rewards, flight
tickets, and hotel packages to those who achieve specific sales targets. These incentives
aim to motivate trade partners to generate higher sales.
 EPCIL provides signboards featuring the shop name and company logo to support dealers
and retailers in their sales efforts. Display signs, leaflets, brochures, and other materials
are also supplied to facilitate sales. EPCIL further promotes itself among its target
customers by sponsoring cultural and sports events and engaging in outdoor painting.
Newspaper ads are used as well.
Recognizing the influence of painters and architects in paint purchase decisions, EPCIL
undertakes various activities to create awareness among these professionals. Regular training
sessions are organized for painters, along with the provision of painting materials and other gifts.
For architects, knowledge-sharing and discussion programs are conducted.
In the B2B market, EPCIL maintains strong relationships with key decision-makers in
organizations, institutions, and government entities. Direct mail campaigns are employed to
promote products, targeting these influential individuals. Additionally, the company utilizes
direct sales techniques, including personalized presentations, product demonstrations, and
tailored negotiations to meet customer-specific needs.

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Digital Marketing plays a significant role in EPCIL's promotional efforts. The company's
official Facebook page, boasting 175k followers, serves as a platform for regular updates about
products. The page also features dedicated content on important occasions such as World Labor
Day, Mother's Day, and Victory Day. Contests are organized to engage Facebook users. EPCIL
maintains a presence on other social media platforms such as LinkedIn, Instagram, and
YouTube. Detailed information about the company and its products can be found on EPCIL's
official website.
EPCIL utilizes various promotional techniques to reach its customers and trade partners. These
strategies include sales promotions for dealers and retailers, sponsorship of events, direct mail
campaigns, direct sales techniques, and a strong digital marketing presence.
5.5: Relationship Marketing
EPCIL adopts relationship marketing strategies to cultivate enduring and mutually beneficial
customer relationships, prioritizing long-term commitment over one-time transactions. By
implementing these strategies, EPCIL aims to strengthen customer loyalty, encourage repeat
business, and establish a robust connection with its customer base. This approach enables EPCIL
to foster enduring customer relationships, enhance customer loyalty, and drive business growth.
Personalized Communication: EPCIL employs customer segmentation strategies to tailor
communication approaches for different customer segments: utilizing personalized emails or
targeted digital marketing campaigns. By understanding customer preferences and needs, EPCIL
delivers relevant information and offers that align with the specific requirements of individual
customers.
Customer Loyalty Programs: EPCIL implements a loyalty program for customers to encourage
continued purchases. This initiative provides loyal customers with exclusive discounts, rewards,
or special promotions. EPCIL offers personalized benefits based on individual customer
purchase history and preferences.
Excellent Customer Service: EPCIL prioritizes delivering exceptional customer service across
all interactions. The company promptly addresses customer inquiries and complaints, offers
valuable product information, and strives to create positive experiences. By surpassing customer
expectations, EPCIL cultivates strong relationships and nurtures customer loyalty.

59 | P a g e
Customer Feedback and Engagement: EPCIL seeks customer feedback to understand their
needs, preferences, and concerns. It is accomplished through surveys, social media engagement,
and direct communication channels. By involving customers in decision-making and
incorporating their feedback, EPCIL demonstrates a commitment to valuing their opinions and
fostering customer-centric strategies.
After-Sales Support: EPCIL extends after-sales support to aid customers in product usage,
maintenance, or troubleshooting. It encompasses providing apply directions, online resources, or
access to a dedicated customer support team. By prioritizing a positive post-purchase experience,
EPCIL aims to enhance customer relationships and promote repeat business.
Community Building: EPCIL can foster community among its customers by facilitating
interactions and discussions. It is achieved by establishing online forums, social media groups or
organizing exclusive events. By creating a platform where customers can connect, share
experiences, and seek advice, EPCIL cultivates stronger relationships and enhances customer
engagement with the brand.
5.6: Impact of Marketing Mix Strategy
The impact of a marketing mix strategy on a company's success is vital in today's highly
competitive business environment. Despite the entry of multinational corporations (MNCs) with
substantial promotion budgets, EPCIL, a local company with a rich history of 70 years, has
managed to thrive by effectively satisfying the needs and wants of its customers through a
tailored marketing mix strategy.
EPCIL's product strategy revolves around understanding and addressing the specific
requirements of the local market. The company continuously introduces new products that cater
to customers' unique needs in Bangladesh. EPCIL has expanded its product line to offer various
paints and coatings tailored to these sectors, recognizing the growth potential in the industrial
and marine paint segments. By providing comprehensive solutions for painting-related needs,
EPCIL has become a preferred choice for B2B buyers in these segments, leading to a loyal
customer base.
EPCIL adopts a pricing strategy that strikes a balance between affordability and quality. The
company offers competitive prices for its high-quality products, ensuring customer satisfaction
while remaining cost-effective. EPCIL's pricing approach considers cost-based analysis,

60 | P a g e
including factors such as raw materials, labour, overhead expenses, and competitor analysis. By
positioning itself strategically in pricing, EPCIL has gained a competitive advantage over other
market players.
EPCIL has strategically established an extensive distribution network to ensure nationwide
coverage and accessibility. With strategically located sales depots and a wide network of dealers
and retailers, EPCIL can reach customers in all corners of Bangladesh. This strategic positioning
enables the company to effectively serve its target market by providing easy access to its
products.
In spite of engaging in costly television advertisements to compete with MNCs, EPCIL focuses
its promotional efforts primarily on intermediaries within its distribution channels. Recognizing
the influential role of trade partners such as dealers, retailers, and painters in paint purchase
decisions, EPCIL actively engages with these stakeholders. However, it can be seen that EPCIL
has lost the front of the head attention of its customers because of its absence in television media.
In addition, the absence of collaborations with renowned celebrities as brand ambassadors has
resulted in EPCIL falling behind its immediate competitors in capturing customer attention.
By focusing on the local market, understanding customer needs, and introducing a diverse range
of products, EPCIL has established itself as a reliable and customer-centric player in the
industry. The company's affordable pricing, extensive distribution network, and targeted
promotional efforts have further contributed to its success.

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