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Nerolac

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A REPORT ON

TO ESTIMATE THE MARKET SIZE OF PROJECT SALES IN SEGMENT- HOUSING SOCIETIES BY COLD CALLING

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By

ANKIT SANGHVI
KANSAI NEROLAC PAINTS LIMITED
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SUBMITTED ON 29TH JUNE, 2010.

A REPORT ON

TO ESTIMATE THE MARKET SIZE OF PROJECT SALES IN SEGMENT- HOUSING SOCIETIES BY COLD CALLING

PREPARED BY

ANKIT SANGHVI

ROLL NO 09020

SUBMITTED TO

MET MANAGEMENT INSTITUE

IN FULFILLMENT OF

THE MBA PROGRAM

2009-2011

SUBMITTED TO
PROF. GUPTE MR. SITHANSHU SHAH
RESPECTED FACULTY PROJECT SALES MANAGER
MET INSTITUTE OF MANAGEMENT KANSAI NEROLAC PAINTS LIMITED

ACKNOWLEDGEMENTS

A project of this nature calls for intellectual nourishment, professional help and encouragement from many quarters. Summer training constitutes the backbone of any management education programme. A management graduate has to quite frequently do the project work during his or her career plans.

I would like to take this opportunity to thank my Company guide Mr. SITHANSHU SHAH, Project Sales Manager, Kansai Nerolac Paints Ltd. who has taken all the time and effort to guide me through this project.

I would also like to thank Prof. GUPTE, Faculty Member, MET Institute of Management, MUMBAI for giving me an opportunity to execute this project.

I would like to extend my thanks to Miss Pallavi, Mr. Gurvinder Singh for having selected me to do this project as it has been a completely enriching experience for me and has helped me implement my learning’s as a MBA student.

Along with others I would also like to thank Mr.Vinod Sawant, Mr. R G Desai for having supported me in times of need and assistance during the project.

I would like to thank the entire team of Kansai Nerolac Paints Ltd. who have come forward with helping hands whenever any assistance has been sought. The Data Research has been primary and thus, I would like to thank all the respondents who have taken time out to answer my questions during the survey undertaken.

Without the support and guidance of all the people mentioned above it would have been very difficult for me to consummate this project.
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ABSTRACT

The project is related to find the role of services provided by a paint company in acquiring, maintaining and retaining customers (read: co-operative housing societies). This report contains the entire objective, purpose, scope and the procedure taken to complete the project and also the limitations or difficulties faced during the course of the project. To find answers to the above questions a survey was done. The primary objective of this project is to find the potential customers and their requirements and develop business of exterior paint for the company. The secondary objective of this project is to prepare a comprehensive and exhaustive database of customers, thereby helping Kansai Nerolac Paints ltd. to get a good database of customers which will help them in future.

The report is prepared for the partial fulfillment of Management programme and as a part of curriculum.

The project has helped in recognizing likely customers for the company. It has also helped in making awareness about Kansai Nerolac Paints Limited and its products in the exterior paint market amongst the customers. During this project the customers were categorized in three ways i.e. HOT, WARM and COLD.

This training is being conducted by survey in the Housing Societies of South Mumbai. The survey was conducted by personally interviewing each respondent. The data thus collected through survey was organized in a database, which could be referred for future endorsements.
The above mentioned survey was conducted on 380 respondents. The respondents were Co-Operative Housing Societies from South Mumbai.

It is found that still Kansai Nerolac Paints Ltd is the strongest competitor for the private Paints companies like: Asian Paints, Berger Paints, ICI Paints and Shalimar Paints, etc.

|S R NO. |CONTENT |
|1 |Introduction |
|2 |Origin and evolution of NEROLAC Paints |
|3 |Kansai Paints Co. at a Glance |
|4 |Indian Paint Industry at a Glance |
|5 |Major Players of Indian Paint Industry |
|6 |Objectives of this Report |
|7 |Findings, Data Analysis And Methodology Used |
|8 |Source of Data |
|9 |Swot Analysis and Porters Five Force Model |
|10 |Suggestions |
|11 |Limitation |
|12 |Paint Industry in the Years to Come |
|13 |Conclusion |
|14 |Bibliography |

CONTENT

INTRODUCTION

The Indian paint industry: the Indian paint market is poised to grow at a steady rate over the next decade fueled largely by a growing economy and changing consumer attitudes

The Indian paint industry has been growing at an average rate of 13% over the last five years. However, the per capita paint consumption in India is only 1.2-1.4 liters. The industry is less than half the size of the Chinese market by volume and about one fifth of the U.S. market by volume. Even Sri Lanka and Pakistan have higher per capita paint consumption.

India's market is dominated by the decorative paint and coatings segment. Architectural coatings largely used in households constitute almost three-fourths of the market's value. The other large segments are automotive OEM paints, automotive refinish paints, protective coatings and powder coatings.

There are many players in the Indian paint market. The top four companies--Asian Paints, Berger, Kansai Nerolac and ICI (India)--constitute more than 5.5% of the Indian domestic market. In addition to these, there are more than one thousand other companies in both the organized and unorganized sectors. The unorganized sector itself constitutes 25-30% of the market.

A number of foreign players have subsidiaries in India including: Jotun (powder, marine and decorative); AkzoNobel (powder, protective and automotive refinish); Nippon Paints (decorative); Choguku (marine); DuPont (automotive refinish); and Becker (coil coatings). Others like Sherwin Williams are in the process of entering India. As a result, all the leading international players in the decorative, automotive OEM and automotive refinish paint markets will be operating in India.

The low per capita paint consumption until recently can be linked to the large number of kuccha (temporary), and semi-pucca homes (semi-temporary), low purchasing power, the small size of homes, the long repainting cycle, and use of chuna (lime powder) and French polish (paint substitutes).

India's market has also seen a higher growth of exterior emulsions. Over the last ten years, exterior emulsions have gradually replaced cement paints largely on account of longer life, better looks and ease of usage. This trend is expected to continue with economy exterior emulsions replacing cement paints. The higher-grade cement paints have been largely replaced by emulsions and it is but a matter of time before cement paints on the exteriors cease to be an easily accepted option. Increased advertising by all leading paint companies has educated consumers and made them aware of better exterior products.

ORIGIN AND EVOLUTION OF NEROLAC PAINTS

We embarked our journey in 1920 as Gahagan Paints and Varnish Co. Ltd. at Lower Parel in Bombay. In 1930, three British companies merged to formulate Lead Industries Group Ltd. In 1933, Lead Industries Group Ltd. acquired entire share capital of Gahagan Paints in 1933 and thus, Goodlass Wall (India) Ltd. was born. Subsequently, by 1946, Goodlass Wall (India) Ltd. was known as Goodlass Wall Pvt. Ltd. In 1957, Goodlass Wall Pvt. Ltd. grew popular as Goodlass Nerolac Paints (Pvt.) Ltd. Also, it went public in the same year and established itself as Goodlass Nerolac Paints Ltd. In 1976, Goodlass Nerolac Paints Ltd. became a part of the Tata Forbes Group on acquisition of a part of the foreign shareholdings by Forbes Gokak. In 1983, Goodlass Nerolac Paints Ltd. strengthened itself by entering in technical collaboration agreements with Kansai Paints Co. Ltd., Japan and Nihon Tokushu Toryo Co. Ltd., Japan. In 1986, Goodlass Nerolac Paints Ltd. turned into a joint venture of the Tata Forbes and the Kansai Paints with the latter acquiring 36% of its share capital. In 1999, Kansai Paints Company Ltd., Japan took over the entire stake of Tata Forbes group and thus GNP became a wholly owned subsidiary of Kansai Paints Company Ltd.

We are esteemed to be a subsidiary of Kansai Paint Company Limited, which is the largest paint manufacturing company in Japan and among the top ten coating companies of the world. We are the second largest coating company in India with a market share of around 20%. We are the market leader in industrial / automotive segment supplying over 90% of the OEM requirements.

We are the leader in powder coatings. Goodlass Nerolac Paints Ltd. (GNPL), the Indian subsidiary of Japan based Kansai Paint Co. Ltd, is the second largest paint company in India with presence in decorative paints as well as industrial paints & marine paints, enamels, varnishes, coatings, resins etc. It is the second largest coating company in India. The company markets its products under the brand names Nerolac, Glossolite, Goody, Allscapes, Excel, in decoratives. The stake of Kansai Paints in the company now stood at 64.52% of the total equity of the company. The company has five manufacturing facilities at Kanpur, Ratnagiri, Ahmedabad, Perungudi and Rewari spread across India. The company has strong presence in automotive paints as it controls 45% of the organized Industrial paint segment. Its major clients include OEMs like Maruti Udyog, Bajaj Auto, TELCO and Mahindra & Mahindra.

The company has two wholly owned subsidiaries namely Saurashtra Paints and GNP (Madras).The above subsidiary companies were amalgamated with the company from April, 2002 with consent approval from both the state’s High courts.

KANSAI PAINTS Co. AT A GLANCE
(PARENT COMPANY PROFILE)

Kansai Paints Co. Ltd., our parent company is the number one paint company in Japan. It is a global leader in innovation and is known best for its product innovation, R&D and sensitivity towards the environment, Kansai commands a leadership position in providing state-of-the-art solutions in décor and in industrial applications in South East Asia, also parts of Africa, Europe and America.

• It is one of the top paint companies in the world. • It has 39 Joint Ventures, subsidiaries and licensees around the world and has recorded a turnover of over 2 billion USD. • The biggest strength of Kansai of course is its unmistakable belief in innovation through R&D.

Kansai Paint Company Ltd. is one of the world's top ten producers of paints and coatings for the automotive, industrial, marine, decoration, and other industries.

Listed on the Osaka and Tokyo Stock Exchanges, Kansai posted sales of Y196 billion ($1.84 billion) in 2005. In 1983, Kansai entered a technology cooperation partnership with India's Goodlass Nerolac Paints, part of the Tata group, and Japan's Nihon Tokushu Toryo. In 1986, Kansai acquired a 36 percent stake in Goodlass Nerolac.

Back in the United States, Kansai formed a joint venture with DuPont to develop automotive coatings for that market in 1990. The two companies had been cooperating on the development of automotive coatings since the late 1970s.

Through 2005, Kansai Paint continued to build up its stake in Goodlass Nerolac, boosting its share from 64.5 percent to nearly 80 percent.

INDIAN PAINT INDUSTRY AT A GLANCE

The market size of the Indian paints sector has been pegged at Rs 170 bn in value terms and is very fragmented. While in value terms, the industry grew by 17% to 18% in FY09, in volume terms, the growth stood at 9% YoY, the lowest in the last five years. The per capita consumption of paints in India stands at 0.5 kg per annum as compared to 1.6 kgs in China and 22 kgs in the developed economies. India's share in the world paint market is just 0.6%.

The paint industry worldwide is classified into 2 segments viz. decorative and industrial segment in India constitutes nearly 70% of the market whereas the scenario is just the reverse in the developed countries.

Decorative Segment is dominated by the unorganized sector which now accounts for 70% of the total paint production as against 75% three to four ago. The unorganized sector has an advantage over the organized sector since it is fully exempted from the 20% excise duty and other government levies.

The Industrial segment is dominated by the organized sector due to being highly technologically oriented. The industrial paint sector is technology intensive. The Indian cost of production is 24 percent more expensive than the international cost. In fact, Indian majors like Asian paints and KNL have embarked on hectic R&D to face the competition and also reduce their cost of production. Industrial segment is also the more profitable segment of the industry as compared to decorative paints due to value addition in the form of specialized functions that these paints perform.

The industrial paint market is split into five segments: automotive coatings. High performance coatings. Marine paints, powder coatings and coil coatings.

Major Players in the Indian Paint Sector

In the organized sector Asian is the market share of 31% followed by Goodlass Nerolac with a share of 16%.

There is tremendous potential for the paints manufacturers in India because as against an average per capita consumption of paints in India is very less. Economic liberalization is attracting international giants like BASF Germany; Curt lauds UK and Jotun Norway, International Paints UK. The share of organized sector has increased from 20% to 25%.

Distribution channel plays an important role in the industry. Awareness and perception of specific brand is more important than the corporate brand equity. Asian Paints, the market leader has around 16,000 dealers in its network which are spread across the country. Kansai Nerolac comes second with around 9,000 dealers.

Rural market has emerged as the new segment for the players in the decorative market and most of the players have identified this segment as a thrust area and are launching new economy brands to cater to the need of this segment.

Company |Premium Brand |Rank |Intermediate Brand |Rank |Economy Brand |Rank | |Asian Paints |Royale |2 |Apcolyite & Tractor |1 |Utsav & Tractor |1 | |Goodlass Nerolac |Allscape |4 |Nerolac & Nerocem |2 |Goody Synthetic |2 | |Berger Paints |Luxol |3 |Rangoli |3 |Butterfly |3 | |ICI India |Dulex |1 | | |Maxilite |3 | |Comparative position of major players in the decorative segment of the paint industry

MAJOR PLAYERS of THE INDIAN PAINT INDUSTRY

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ASIAN PAINTS

Asian Paints Ltd. was established in 1942. More than half a century down the lane, Asian Paints is India’s largest and Asia’s third largest paint company today. Asian Paints operates in 22 countries and has 29 paint manufacturing facilities in the World. Besides Asian Paints, the group operates around the world through its subsidiaries, Berger International Limited, Apco Coatings, SCIB Paints and Taubmans. Asian Paints along with PPG Inc, USA is one of the leading manufacturers of automotive coatings in the world. Asian Paints Industrial Coatings Limited caters to the Industrial coatings market and has tied-up with Protech Chemicals, a world leader in powder coatings.

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BERGER PAINTS:

Berger Paints was the creation of Mr. Lewis Berger, who in 1760, through his shades had offered people a chance to transform their homes through the power of imagination. Berger Paints India Limited has been in India since 1923.

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ICI PAINTS:

Imperial Chemical Industries (ICI) is a major paint, adhesive and specialty products business with products and ingredients developed for a wide range of markets. ICI is present in Asia Pacific, Europe and the Americas. However, in the beginning of 2008 ICI became a part of Akzo Nobel, the world’s largest coatings manufacturer, the number one in decorative paints and performance coatings, and a leading supplier of specialty chemicals. ICI Paints, headquartered in UK and manufactured in 24 countries, has some of the world’s top paints and decorative product brands. ICI’s Paints division in India is a subsidiary of ICI Dulux Institutional, a world leader in paints. The Indian subsidiary, ICI Dulux India which is popularly known as Dulux Paints India, owes its success to strong brands such as ICI’s exterior emulsion brands – Weathershield and Supercote and retail brands like Dulux Velvet Touch, Acrylic Emulsion and Gloss.

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JOTUN PAINTS:

Jotun group, a Norwegian paint manufacturer which is headquartered in Sanderfjord, Norway, is one of the world’s leading manufacturers of paints, Coatings and powder coatings. The group has 71 companies and 40 production facilities on all continents. In addition, Jotun has agents, branch offices and distributors in more than 70 countries.

Jotun Paints inaugurated its first manufacturing facility in India, in April 2008 at Ranjangon in Pune and will soon set up a manufacturing unit in North India. The manufacturing unit in Pune mainly caters to Kerala, Karnataka, Tamil Nadu and Maharashtra and will move to the northern

markets such as Gujarat, Delhi and Haryana subsequently. Jotun has launched retail outlets in a many towns and cities of India.

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KANSAI NEROLAC PAINTS:

The history of Nerolac Paints dates back to 1920. Nerolac Paints was established as Gahagan Paints and Varnish Co. Ltd. in Mumbai. In 1933, it was renamed to Goodlass Wall India Ltd. and later became Goodlass Nerolac Paints Pvt. Ltd in 1957. And recently in 2006, it acquired the present name Kansai Nerolac Paints Ltd.

Kansai Nerolac Paints is a subsidiary of Japan based Kansai Paint Company Limited that is one of the top ten coating companies in the world. Nerolac is the second largest in India with a leading position in industrial and automotive paints and also in powder coatings.

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NIPPON PAINTS:

The company was first founded in Japan as Komyosha in 1881 by brothers Haruta and Jujiro Moteki together with their chief engineer Heikichi Nakagawa. In 1898, Nippon Paint was established as Japan’s first true paint manufacturing company.

Nippon Paint has over 126 years experience in the paint industry. Since its establishment the Nippon Paint group has consistently been a leader in the paints and coatings Industry. After making inroads into Singapore, Malaysia, Thailand, Philippines, Korea, Vietnam, Hong Kong, Taiwan, Nippon Paint also garnered a sizeable share of the decorative paints market in China. Nippon Paint has operations in Europe and America as well. Now the Nippon Group is recognized as the leader in Asia. Nippon Paint India started its operations from Chennai, in June 2006 and the Decorative paint division has its Office in Chennai. Apart from the retail chain network Nippon Paints is present in Noida, Ahmedabad, Bangalore and Hyderabad through HomeTown hypermarket chain.

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OIKOS PAINTS:

Oikos Paints from Italy, known for decorative wall art, has launched three collections in India – The Top Interior Decorative line, The Top Exterior Decorative line, Flat Paint (Acrylic Paint) for interior as well as exterior. All three ranges have unlimited decorative possibilities in a spectrum of colours and a variety of feels and textures.

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SHALIMAR PAINTS:

Shalimar Paints was incorporated in India in 1902 as Shalimar Paint Color & Varnish Co. Ltd. It became a public limited company in 1961 and adopted the present name Shalimar Paints Limited in 1963. Shalimar Paints was the first large-scale manufacturing unit in India and also in the whole South-East Asia region. Shalimar Paints have their corporate office in Mumbai.

Some of the most commendable achievements by the Shalimar Paints R & D units are being the first Indian company to develop a radiation resistant paint for nuclear power plants coating and another would be aviation coatings epoxy/ vinyl system for ester lubricant resistant aircraft finish.

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SHERWIN-WILLIAMS PAINT:

The Sherwin-Williams Company (SHW) is an American company which primarily engages in the manufacture, distribution, and sale of coatings and related products to professional, industrial, commercial, and retail customers primarily in North and South America. The company is mostly known through its Sherwin-Williams Paints line.

Founded by Henry Sherwin and Edward Williams in 1866, the company has not only grown to be the largest producer of paints and coatings in the United States, but is among the largest producers in the world. It operates through four segments: Paint Stores (known as Sherwin-Williams Stores), Consumer, Automotive Finishes, and International Coatings.

Sherwin-Williams Paints acquired Nitco Paints, an Indian paint company, in April 2007, marking its entry into the Indian paint market. The Sherwin-Williams stores will offer a wide range of interior and exterior paints, painting accessories and tool, and market the company’s wood-care products under the ‘Ronseal’ brand. They will also offer a “touch and feel” experience for the customers.

OBJECTIVES OF THIS REPORT

The objective of the report is to understand the following………………….

The report will help in recognizing and identifying potential customer requiring exterior paint job done and providing such customer paint related services. It will also help in maintaining an elaborative database of the potential customer. It will also help to infer some key aspects like,

✓ It will mainly help in recognizing the kind of services to be provided to the co-operative housing societies (customers). ✓ This study will help in segmenting the different societies and areas on the emergence of paint ✓ To categorize the customers in terms of their preference for exterior paint, i.e. for a term of 3 years, 5 years or 7 years ✓ To understand the behaviour of customers towards the brand KANSAI NEROLAC PAINTS LIMITED. ✓ To specifically explore opportunities in terms of new contracts thereby increasing sales for the company. ✓ To prepare a strong database for the company of its customer for future use and building good relations ✓ This report will also help to identify the kind of market opportunities waiting for the company. ✓ Ultimately, this report will help the company to create a direct communication with above mentioned and to boost up sales in this competitive market thereby retaining their existing customers as well as new customers

This report will also help the company to identify those who can help the company improve its presence in the market thereby building awareness about the company and its products, resulting in sales boost for the company in both the segments, i.e. industrial as well as decorative segments.

FINDINGS, DATA ANALYSIS and

METHODOLOGY USED

The different research tools that have been used in the project are enumerated as under:

1. Due to less number of co-operative societies come up in certain areas like Charni Road, Grant Road and nearby localities, a collective decision had to be taken for such areas. A large number of development projects are being undertaken at various places and many new buildings have come up in certain areas have open more opportunities for the company.

2. Personal in-depth interview: The survey was conducted by taking personal in-depth interview of mainly the co-operative housing society’s managers, representatives.

3. Probing and prompting: In order to get full information related to the project, frequent probing and prompting was done during the interview process.

4. Almost everybody knows about Kansai Nerolac Paints Ltd.

5. Asian paints are a more favored brand in comparison to the other private Paints company brands.

6. During this survey, a total of 379 co-operative housing societies were considered out of which 17 have been classified as hot sites providing immediate business, 79 warm sites which may consider painting in next six months and remaining 283 buildings as cold sites.

7. Out of 283 cold sites, there are 7 new buildings, 47 buildings have been recently painted, a few sites were privately owned, few already had the contract given to other companies, few were already under painting and the remaining had been painted a few years back.

8. Out of all the paints work in progress many contract were with PAINTERIOR, VAZIR SURFACE, VELDON, and VORA ASSOCIATES. All these contractors and consultants are considered big in the business of renovation and repair as well as repaint.

SOURCES OF DATA:

Primary Sources

The data collected for the survey was basically primary as all the data was constituted from South Mumbai area covering from Colaba to Mahalaxmi

SWOT ANALYSIS

Strengths

1. Quality of the Product is the best in the present market. 2. Being a subsidiary of Kansai Paints Limited, Japan that is among the leading 10 paints manufacturing company in the world had given Kansai Nerolac Paints Limited a huge boost. 3. Kansai Nerolac Paints Limited is the leaders in the Industrial segment in India. It has the largest share in automotive segment and Powder segment. 4. Kansai Nerolac Paints Limited has a brand image 5. Good technology backup. 6. Increasing share in the decorative market

Weaknesses

1. Low market share in India as compared to the leader Asian Paints. (approx half of the Asian Paints ) 2. High working capital requirement. 3. Raw materials – scarcity 4. Real estate in a depression phase. 5. Maintain large inventory level as sales is seasonal.

Opportunities

1. Government relaxing norms for foreign companies to enter the Indian market.

2. Boom in Indian Housing Sector: Increasing urbanization, cheaper housing loans and a shift from semi-permanent to permanent housing structures Increasing urbanization, cheaper housing loans and a shift from semi-permanent to

permanent housing structures have been driving growth in decorative paints segment, which constitutes 70% of the $2 billion paint industry in India

3. Strong Industrial growth: An average growth of about 10% in the in automobile sector which provides 50% of the revenues in the industrial paints segment. Industrial paints account for 30% of the paint industry revenue in India.

4. Heavy Infrastructure Spending: New projects in roads, ports and industrial segments increases revenues from protective coatings for civil applications and road-marking paints to all parts of the building paints sector, whether interior, exterior, waterproofing or floor coatings.

5. Increase in manufacturing activities: Over 40% of the industrial sector takes the form of OEM finishes, which is expected to grow steadily as a result of increasing demand for consumer goods in India as well as India’s position now as a leading manufacturing hub for the supply of goods to the Southeast Asian and other world markets

6. Rise in Income: Lifestyle based spending by Indian middle class is helping this industry. Contemporary wood finish formulations are replacing the more traditional lacs and exterior emulsions take over from cement paints. 7. Demand for paints from new housing is expected to constitute approximately 30 percent of total demand; the rest comes in from repainting, mainly after the monsoon rains and before the festive season. This is a function of disposable income, so improvement in rural incomes will boost the growth in the paint sector. 8. Within the decorative coatings segment, considerable growth is being observed in the exterior coatings segment. Paint manufacturers have launched premium products in this category which are doing well due to superior quality and durability.

Threats

1. Entry of foreign players in the Indian paint market. 2. Aggressive marketing by Asian & Berger Paints, and other competitors. 3. Availability of cheaper substitutes. 4. Government making automotives expensive.

PORTER’S FIVE FORCES MODEL

The porter’s 5 forces model states the following in relation with Nerolac paints and the paint industry as a whole:

1. Industry competitors: The competition in the industry is intense as there are a number of companies with various offerings such as Asian Paints, ICI Paints, Berger Paints, Shalimar Paints, all trying to increase their market share by their products and services.

2. Buyers’ power: The bargaining power of the buyer is more and is increasing day by day as they have a number of options to choose from since various companies are providing various semi-homogenous products.

3. Threat of new entrants: The threat for entry of new entrants is high as many international companies are making their way into the country. Also initiatives taken by the government is encouraging entry in this industry.

4. Suppliers’ power: Price increase constrained with the presence of the unorganized sector for the decorative segment. Sophisticated buyers of industrial paints also limit the bargaining power of suppliers. It is therefore that margins are better in the decorative segment.

5. Threat of substitutes: Large number of substitutes are available in the market such as chuna (limestone), neru, glass frames, etc.

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SUGGESSTIONS

1. Company should promote the advertisement on a large scale in order to compete with industry leader and new entrants.

2. Company should take feedback from customers to analyze the quality of products and to judge the satisfaction level of customers.

3. Company should enter in rural areas as these markets largely unexplored and have great potential.

4. Company should try to pay attention on after sale service.

5. To collect data of all institutions, i.e. schools, colleges, co-operative housing societies, etc, the company can start promotional scheme on lucky draw basis where it invites the required data from these institutions and maintain and use the database for the benefit of the company.

6. The company should provide schemes to its retailers, dealers such as providing valuable incentives to them thereby encouraging sales of products the company only.

7. The delivery cycle should be quick. The lead time between order placement and delivery of goods to the end user enables favorable image for the company and a satisfied customer.

8. The company should come up with competition scheme for its dealer retailers and its associates, encouraging competition amongst its dealers for boost sales and giving rewards for the same.

9. Company can come up with a new product offering on the lines of “Disney” characters adopted by the company. Such as associating Hindu gods with color scheme- “Connect with God” divine theme- offering color shades associated with GOD.

10. Increase manpower, this can lead to more sales operation and awareness of the company.

11. Maintain an advertisement campaign and don’t switch to jingle creating confusion amongst customers such as the “ghar ki ronak badani ho, deewaro ko sajana ho, Nerolac Nerolac” was a successful campaign.

LIMITATIONS

1. In the research conducted all the due efforts are made with full effort and diligence but still there might be some error due to the following reasons:

• Human behavior is too complex to determine. So the information disclosed by them may not be very accurate.

• There was a time constraint while conducting the report.

• It might be possible that the answers given by the respondents are full of biasness.

• Some of the respondents were not willing to reply the questions.

2. In some of the co-operative housing societies, collection of data had become tough because of the absence of the concerned person. In such case judgmental decision is to be taken.

3. In some of the cases, due to the unwillingness of the concerned person, data collection could not be carried out.

4. Due to lack of awareness about the society decision, the concerned person could not provide proper details.

5. In some of the co-operative housing societies, due to lack of sincerity among respondents it had become difficult to get the correct information which might have increased the error percentage in the sample.

6. In some cases our team was late to approach for a contract as the society had already gone for painting with a contract with the company competitors, thereby company losing business.

7. In some areas, judgmental sampling had to be done, thereby inviting more room for error.

PAINT INDUSTRY IN THE YEARS TO COME

The Indian paint market has the potential to grow over the next decade at 15-20% per annum as the current per capita consumption is much lower than other developing countries and less than half of China

In the decorative segment, the next decade should see a value growth in the region of 15-20% per annum due to reduction in poverty levels, construction of new homes, higher inclination to spend, increasing decor-consciousness and gradual replacement of chuna.

The automotive OEM segment too should grow at least at 15% per annum powered by the projected high growth in the automotive segment. Thus if the Indian economy maintains its growth rate at the recent high levels, we should see value growth of at least 15% annually in the Indian paint industry over the next five years.

Lastly, the absence of the DIY market, which constitutes between 25-50% of the decorative markets in the West, is not present in India. Indians depend on the skilled painter largely on account of lower labor costs, greater necessary surface preparation and an inherent laziness among the Indian consumer when it comes to painting. Hence the range of products sold and the manner in which they are sold and used are very different in India.

The Indian paint market is poised to grow at a steady rate over the next decade fueled largely by a growing economy and changing consumer attitudes. Paint marketers have to continually meet the needs of the changing Indian consumer and regularly provide him with newer products and services to meet his requirements.

Decorative paints are expected to witness higher growth going forward. The fiscal incentives given by the government to the housing sector have benefited the housing sector immensely. This will benefit key players in the long term.

This apart, above normal monsoons in the current year would lead to higher agricultural output thereby increasing demand for paint from rural areas. We expect paint demand to grow by 12% to 15% in the next two to three years, largely led by post festive season demand.

Demand in case of industrial segment is also expected to increase going forward. This is on account of increasing investments in infrastructure. Domestic and global auto majors have long term plans for the Indian market, which augur well for automotive paint manufacturers like Kansai Nerolac and Asian-PPG. Increased industrial paint demand, especially powder coatings and high performance coatings will also propel top line growth of paint majors in the medium term.

The reduction in peak customs duty from 12.5% to 7.5% will lower the import cost of key raw materials. With more residual income with the population, home loan disbursals are expected to grow at 25% CAGR in the next three years, which is a positive for paint companies.

CONCLUSION

All in all, India's coatings and paints industry is experiencing a rapid development of the course, which is the automotive industry, infrastructure construction and other related industries, the rapid development of the history of inseparable. Of course, look at the policy level, the Indian government implemented the infrastructure for the paint industry with a very broad application platform.

Consumption, consumers and users are looking forward to for some specific applications of paint come on the market. As coatings businesses, are also broken down by customer demand for specific customers customized services and training programs, including providing customers with a special paint effects, and so a series of value-added services to increase market share and customer satisfaction degrees.

With the traditional white paint that corresponds to a new generation of interior latex paint market is also experiencing a massive expansion phase. In India, consumers substitute the use of economic-based low-cost white latex paint, has become an increasingly popular consumer trends. In the outdoors, the latex-based coating products are gradually replacing the traditional solvent-based enamel. More and more consumers, the price slightly higher emulsion coating products, incremental goodwill. Because they know that, although the input is a number, but the emulsion paint products can be durable for a longer time for them, more beautiful paint effects, and more color choices. These advantages are the traditional products cannot do.

It should be noted that for the next couple of year’s time, India also has huge growth coating strength. Comparison of decorative coatings and industrial coatings, industrial coatings in India will be accompanied by a strong rebound in the domestic auto industry, but also showing a more substantial growth rate.

In India, using an active marketing strategy and rapid development of new coating products companies, will in the future be more rapid pace of development. Along with India's paint technology and market activity further strengthened the leading paint companies in India today, is likely to further consolidate its leading position, and possession of a higher market share.

BIBLIOGRAPHY

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