RESEARCH PROJECT REPORT

On

““CONSUMER BUYING BEHAVIOR

TOWARDS PAINT SEGMENT”

SUBMITTED IN PARTIAL FULFILMENT FOR THE DEGREE OF

MASTER OF BUSINESS ADMINISTRATION

of
PUNJAB TECHNICAL UNIVERSITY, JALANDHAR
By
ISHAN SUKLA
94302236186
MBA 4th SEMESTER

UNDER THE SUPERVISION OF

Lect. Mrs. Sunayna

Chandigarh Business School, Landran, Mohali (Punjab)

2009-2011

1
 Declaration

I, hereby, declare that the research project report title“CONSUMER

BUYING BEHAVIORTOWARDS PAINT SEGMENT” is my
original contribution and the same has not been submitted earlier.

Date: 19/4/2011 (ISHAN SUKLA)

ROLL NO. 94302236186
M.B.A (4th )Sem.
Chandigarh Business School

2
 ACKNOWLEDGEMENT
For achieving any destination, efforts are the path. On the path, we
meet lots of people who support us to make our journey memorable &
few of them accompany us till we get the goal. After getting the goal we
must not forget the presence of such people who made our journey
easier. I express my sincere regard & my gratitude to all of them.
First of all, I bow with reverence & gratitude to thank the
ALMIGHTY who has enriched me with such a golden opportunity &
infused the power in my mind to fulfill the task assigned to me.
I also extend my sincere thanks to all the staff members of this
reputed organizations who encouraged me and gave me valuable
information about the company.
I render my sincere thanks to lect Sunayna. , for her valued
suggestions & constructive criticism.
Finally my sincere regards & gratitude are due towards my parents
Mr. Suresh sharma & Mrs. Sukanya sharma.
for their moral support & encouragement to work on this project. They
were always bringing a positive threshold for me even after getting
victimized by my anger & irritation. I bow my head in front of them &
will never be able to unsolder their debt. They acted as a booster with
their inspirational words.
I would like to thank Google without which the project writing would
have been very much hectic & difficult job.

3
 PREFACE

“Knowing is not enough, we must apply; willing is not enough, we

must do”. Education becomes more meaningful when its theoretical
aspects are combined with practical experience. This provides an
opportunity to the students to improve their understanding of the
studies.
―A customer is an essential part of our business-not an outsider.
Customer is not just money in the cash register. He is the human being
with the feelings and deserves to be treated with respect.‖

Adam Smith states, ―The capacities of individuals depended on their

access to education‖.

4
 CERTIFICATE OF ORGANIZATION

This is to certify that Mr. / Ms. Ishan Sukla Roll No. 94302236186 has
completed the research project titled ―CONSUMER BUYING
BEHAVIORTOWARDS PAINT SEGMENT” under my supervision in
partial fulfilment of the MASTER OF BUSINESS ADMINISTRATION
DEGREE/PGDM approved by AICTE ( of university‘s name Punjab
Technical University for MBA only).

DATE: (Mrs. SUNAINA VERMA)

PLACE: LECTURER

(DR. JAI PRAKASH )

DEAN

5
 CONTENTS
1. Executive summary 7

2. The Indian paint industry 10

3. Asian Paint India Ltd. 15

4. Company profile 20

5. Consumer buying behavior 33

6. Research Methodology 45

7. Data analysis 54

8. Findings 66

9. Swot analysis 68

10. Recommendation 79

11. Limitation 81

12. Conclusion 83

13. Questionnaire 86

14. Bibliography 91

6
7
 EXECUTIVE SUMMARY

The Indian Paints & consumer behaviour to purchase with a variety of new players &

product flooding the market. The Indian market, which is under transition, is also getting

more and more competitive both in terms of consumption and quality consciousness. A

booming paints and varnish industry has resulted innovate marketing techniques come

into play. All major players like Modi Paints, Nerolac Paints, Berger Paints and few other

players are trying to strengthen there retailing operations with different marketing

strategies/techniques because the paints and varnish industries come under the impulse

category where factor like supply change management. The width of distribution,

advertisement, packing & communication make all the differences.

In the background of the above scenario, it was decided by the company to carry out a

research to determine what dealer think about Asian Paints and Varnish. Is Asian Paints

and Varnish gives value for money, means total satisfaction or not.

This Project which was assigned to me is basically a dealer survey through out the

project. I had find out the image of the product, purchase behaviour of consumer from

dealer, their expection the reasons of satisfaction and dissatisfaction.

8
 ACE

The aim of management course is not to produce readymade manager but rather to

develop a habit of thinking rationally based on the scientific principle of management.

The post contents of theory of management endeavors to the scientific in nature while its

application and presentation in the real business would remain a target to be developed by

the individual.

The purpose of introducing the student of management to the business world is to help

the student to correlate and integrate the theory practice .The practical training too is

essential part of the management course.

9
10
 THE INDIAN PAINT INDUSTRY

sThe Indian paint industry did not fall under the protected ‗priority‘ sectors as established

by the Indian government. Therefore, this industry was open to foreign players. Strategic

groups within the industry were primarily based on cost profiles. Large players, or the

―organized sector‖ as it is called by analysts, primarily focussed on conformance and

performance quality at a reasonable price.

Small local players usually focused on low cost with very little or no concern for quality.

Still they made up 30% of the overall market it terms of sales. The rural customer in India

buys primarily on price and small local players could supply paint at 50 to 60% of the

price of the organized sector. The cost advantage of the small local players was driven by

several factors: cash transactions (income and sales tax evasion), excise tax breaks for

small scale producers, price based vendor switching for raw materials (such as pigments),

and low overhead from skeleton operations and less costly manufacturing processes (such

as no effluent treatment and little quality control).

Since the government declared its intention to rationalize taxes (i.e. no advantage to small

scale and therefore less evasion) and the environmental movement gathered more

momentum (e.g. Meneka Gandhi‘s, the former prime minister‘s sister-in-law, lobbying

efforts were at a peak when 25% of chemical plants were shut down in Gujarat, a state in

western India, due to non-compliance with environmental requirements), cost advantages

to the small local players would fade. Industry analysts expected the small-scale market

share to dip to 10% by the year 2000.

11
The paint industry was divided into two consumer segments: Industrial (such as

automotive) and Decorative (such as housing).

The organized sector was divided as follows:

COMPANY DECORATI INDUSTRI OVERALL ESTIMATED

VE AL PAINT

REVENUES

Asian Paints 38% 14%-16% 32.5% Rs. 6,980 MM

Goodlass Nerolac 7.8% 40% 17.5% Rs. 3,750 MM

Berger Paints *14% *14% 14.0% Rs. 3,007 MM

ICI India Ltd. 8%-9% 12% 10.5% Rs. 2,254 MM

Jenson and Nicholson *6.9% *6.9% 6.9% Rs 1,482 MM

Growth Rate 8-9% 18% 11%

Total (Rs.) 15,033 MM 6,442 MM 21,476 MM

* Since these companies strive to match their product sales to the market (i.e. 70% : 30%)

they maintain similar market share in each segment.

Based on industry reports some of the trends taking shape in the Indian paint industry

were as follows:

i. Internationally, industrial and decorative paints have 50:50 share of the overall

market. In India, the ratio was 30:70 for industrial to decorative paints. This ratio

would shift towards the international mix over the next 10 years.

12
ii. INDUSTRIAL SEGMENT:

Automotive paints accounted for over 50 percent of the industrial paint market.

Goodlass Nerolac (GN) had an alliance with the US based DuPont since 1996 to

garner a large share of the automotive paint market. They supplied 90% of the paint

requirements of Maruti, the largest car manufacturer in India (83% market share in

the Indian car market). The five million liters per year automotive refinishes market

was expected to grow at a rate of 25 percent if the automobile sector grew at a rate of

15 percent per year. Jenson & Nicholson (J&N) entered into a 50:50 partnership with

Herberts GmbH of Germany to produce automotive refinishes.

Powder coating paint for white goods (like washing machines and refrigerators)

accounted for 10 % market share of the industrial paints segment. In powder coatings,

GN was a market leader supplying to consumer durable companies like Godrej,

Voltas and Whirlpool. GN had an alliance with Valspar Corporation of the US to

manufacture powder coatings.

Marine paints accounted for 8% of the market. J&N had an alliance with Chogoku

Marine Paints of Japan to manufacture bio-friendly marine paints. The market size for

marine paints was estimated at Rs 400 MM.

Special purpose paints had a 16 % market share.

13
iii. DECORATIVE SEGMENT: While the decorative segment was growing,

the players were aware of its decreasing importance. The latest trend in decorative

paints was tinting systems. Tinting systems were mix and match assemblies at

hardware stores, which had the potential to drastically alter distribution channels

with the reduction of inventory. They involved 6-18 basic shades which could me

mixed at the store in a small vibro-shaker. An example was Berger‘s Color Bank

system or ICI‘s Colour SolutionTM.

14
15
 ASIAN PAINTS INDIA LTD.

In 1942, four partners got together to manufacture paint in a garage in Bombay. The

company was named Asian Oil and Paint Company; a name picked at random from a

telephone directory. Up against giant international paint companies, Asian Paints hit on

the innovative marketing strategy of reaching consumers in the remotest corners of the

country with its small, conveniently sized packs. During the 1950‘s the company grew

from being a family-managed, small-time paint manufacturer to a professionally

managed organization competing with the best companies in the world. By 1967, through

innovative R&D and ambitious grass-roots marketing, forming strong relationships with

thousands of paint dealers in small towns all over India, the company jolted its

multinational competitors by emerging as India‘s number one paint company. [See

Exhibits 1, 2, 3, 6,and 7 for more company information]

For the next thirty years they maintained their position as market leader through a four

pronged strategy –

i. Excellent marketing

ii. Intensive distribution

iii. Leadership in Information Technology, and

iv. Recruitment of young management professionals.

In 1996-97 AP‘s total sales reached $175 million, almost double that of Goodlass Nerolac

Paints, (1996-97 sales $94 million) the number two paint company in the country. Asian

Paints had strengthened its technological capabilities through agreements with Nippon

Paints of Japan for automotive and powder coatings, Sigma Coatings BV of Netherlands

16
for marine and high-performance coatings, and PPG Industries of USA for the cathodic

electrodeposition technology - a much needed enhancement for its automotive business.

Prior to the KMCC/ICI sale, the ownership of the company was as follows:

Chokseys 9.50%

Danis, Vakils, and Chowksis 41.06%

Total by Promoters 50.56%

Foreign Institutional Investors 11.52%

Non-resident Indians 10.19%

Individual Investors and Public 27.73%

17
 INTRODUCTION OF PAINT

WHAT IS PAINT ALL ABOUT

Can anyone imagine life without Colour? The Answer is absolutely ―No‖. So we may say

that Paint‘s some thing which add colour to life in Indian people used to whitewash their

henses or festore occasions particularly in Dewali, Id, X-mas day etc. For this purpose

they used the things called choona(Calcium Hydroxide) but present situation is no longer

some with the advent of new sophisticated technologies thing have changed a lot.

First let us why Paint and Primer are used. Ancient used paint (Naturally Occuring) as a

Necessity and only for decorated purpose but now Paint and Primers are used other than

decorated purpose besides previous used Paint and Primers are used as auto corrosive

agent.

We know that Corrosion Cause huge losses to complainers. An estimate of Corrosion

Reveals that around Rs.1000 crores is lost because of Corrosion.Which is nearly double

the sales turnover of Paints Industry. The paint is most cheapest way perfect as well as

provide a decorative look to the valuable Asserts paint cost less than 2.5% of total cost of

the assets on which to is applied protective coating thus play a crucial role in the

combating corrosion.

According to the use of solvents for the applying purpose paint canbe classified into two

categories.

Oil Based Paints

18
Water Based Paints

In India Oil Based Paints are commonly used but they are somewhat costly because of oil

used globally water based paints are preferred in order to produced paints. Certain Raw

materials are needed.

The required Raw materials are

Pigments

Resins

Solvents

Additives

Adulterants

Let us see what above material meant for the paint manufacturing we will see it through

one by one.

19
20
 ASIAN PAINTS

COMPANY PROFILE

BACKGROUND

Champaklal H Choksey, Chimanlal Choksi, SC Dani and A Vakil set up APIL, in 1942

as a partnership firm .In 1945, it was converted into a private limited company, under the

name of Asian Oil and Paint Co Pvt. Ltd. In 1965, the name was change to Asian Paints

(India) Pvt. Ltd. In 1973, it was converted into a public limited company.

APIL‘s first plant came up in Bhandup in 1957 .It has three other plants located at

Ankeleshwar (1981), Patancheru (1985) and Kasna (1990) .All the plants have captive

resin manufacturing faculties and are capable of producing the entire range of paints.

APIL also manufactures a key raw material Phthalic Anhydride, at its Ankleshwar plant,

30 % of which is costively consumed. Earlier APIL used to also manufacture another raw

material, vinyl pyridine latex, which was later hived off onto a separate company, under

the name of Apcotex Lattices Ltd.

Capacity expansions have come in a phased manner. Productivity at the Bhandup plant

has been lackluster. Through a AVS scheme introduced in 1993, APIL was able to cut

back workforce. Investment in information technology, especially in the areas of

production and distribution logistics has helped APIL improve its operating efficiency .In

FY96 APIL‘s ailing subsidiary Pentasia Chemicals Ltd. was merged with APIL.

21
Locations

APIL has 4paints manufacturing plants .The oldest plant is at Bhandup in Mumabi .The

other plants are at Ankleshwar in Gujarat , Patancheru in Andhra Pradesh and Kasna in

Uttar Pradesh .The Phthalic anhydride plant is located at Ankleshwar in Gujarat. Penta

plant (result of PCL merger) is located at Cuddalore in Tamil Nadu .The installed

Capacity of each manufacturing facilities are:

Manufacturing facilities Installed capacity (TAP)

Bhandaup, Mumbai 20,000

Ankleshwar 50,000

Patancheru Andhra Pradesh 50,000

Kasna ,Uttar Pradesh 42,700

Total 162,700

APIL ,India‘s largest Paints Company , is the market leader in decorative paints .It has

remained focused on core business and has consistently improved operating efficiencies

.The company has registered a net profile of Rs 1064mn in Fy 01 as compared to Rs 973

mn in the previous year.

Paints sector can be segmented application wise , as decorative paints and industrial

paints . While both are characterized by low capital costs and high working capital

intensive, ht latter requires special technology. Capacities are normally set up close to

22
markets, so as to be able to offer multitude of shades and colors to customers. Brand

building and dealer network act as effective entry barriers. Demand is seasonal in nature

– low during monsoon, high during festivals.

Domestic paints sector , dominated by decorative paints (70%) is expected to undergo a

structural shift towards industrial paints , as cross –border tie-ups in industrial paints are

becoming order of the day. Most organized sector players are established with well-

entrenched distribution network and established brands. Threat of global competition in is

minimal. The underdeveloped industrial paints market hold maximum growth potential,

albeit competition, product innovations and a fight for superior distribution network.

Focussed on decorative paints segment, APIL is set gain the maximum amongst the peer

members from the uptrend in the housing sector .The company is restructuring its

operations into three SBUs and has set target to be amongst the top ten decorative

manufactures in the world by 2003. APIL is investing heavily in dealer tinting machine

―Colour World ‖and IT technologies to keep ahead of competition .APIL has set target of

Gross sales of Rs21bn by 2003and earning growth of above 20% . It also has set a vision

to be among the top five paint companies worldwide by 2005.On export front , the

company is looking out for alliances/ takeover in the emerging markets of Asia.

23
SALES BREAKUP

Period ended 03/08 03/09 03/10 03/11

No. of months 12 12 12 12

Sales values (Rs mn)

Formaldehyde 0.4 0.2 - -

Miscellaneous 165.4 125.7 121.0 145.7

Penta erythritol 280.1 251.1 22237 216.7

Phathalic anhydride 618.6 485.7 695.2 792.0

Paints , varnishes , 9,111.9 10,339.9 12,212.2 13,7396

enamels& oils

Sodium formate 14.3 14.1 15.0 20.7

Others - 237. 79.2 21.3

Sales volume (unit)

Formaldehyde(Ton 31.0 10.0 - -

Miscellaneous(Ton) 3,146.0 2,573.0 2,518.0 2,712.0

Penta 2,829.0 2,831.0 2,867.0 2,839.0

erythritol(Ton)

Phathalic 17,376.0 16,688.0 19,060.0 20,195.0

24
anhydride(Ton)

Paints , varnishes , 116,9420 131,2840 162,110.0 181,271.0

enamels & oils

(Ton)

Sodiumformate(Ton) 971.0 1,414.0 1,156.0 1,366.0

25
 RAW MATERIAL USED IN THE MANUFACTURE OF

PAINTS

Five types of raw material are used in the manufacture of paints, these are:

A. PIGMENTS:

The materials added to the paints to obtain desired final colour and to give opaqueness

to the paint are called colouring pigments. Few of the commonly used pigments are;

1. Chrome Pigments

2. Thellocynine (for blue colur)

3. Thellocynine ( for green colur)

4. Red Oxide /Halo Oxide/Hensa Red (for red colour)

5. Hensa Yellow(for yellow colur)

6. Carbon Black (for black colour)

26
 B .RESINS:

The materials used in paints to give it the property of binding it with other ingredients

and causes it to adhere to the surface to be painted are called resins. These are also used

proportionally in order to give gloss to the paints. Few kinds of resins are—

1. Alkid Resins,

2. Epoxy Resins

3. Acrylic Resins,

4. Polyurethance Resins

C. SOLVENTS:

The materials used in paints to help it to spread over the surface are called solvents.

These are also used in oirder to make the paint thick of dilute. I.e. viscosity of paints

depend upon the content of solvent in it. Solvents that are commonly used can be broadly

divided into two categories. They are:

1. Aromatic-Xyleme, Toulene.

2. Aliphatic- M.T.O.( Mineral Turpentine Oil)

T.O.(Turpentine Oil)

27
D. ADDITIVES:

These are added in order to give some extra properties to and kind of paints i.e. quick

drying, anti-setting, heat resisting etc. So accordingly-

1. Drying Agents like Litharge

2. Anti-Setting Agents,

3. Anti-Skinning Agents

4. Heat Resisting Agents,etc.

E. ADULTERANTS:

The materials which are used to reduce the cost of paint and also to reduce the weight and

to increase its durability, are called adulterants, barium Soleplate is widely used as an

adulterant because of its cheapness and its property not to react with paints. Calcium

Carbonate, Magnesium Silicate and silica are also used as adulterants.

28
 QUALITY POLICY

Control the wastage of Material during the Manufacturing Process.

Control of wastage of Human Resources through proper Planning.

To find out the process by which the wastage can be recycled.

To established clear objects in between the employees and the employers.

To create good working environment.

To maintain the proper level of quality through proper planning.

To create a good knowledge bank by organizing the training and development

program in the organization.

To make best approach to place the right people on the right place at the right

time with the right sense.

29
 FUTURE PLANS

It is well known that Modi Paint and Varnish Company has been manufacturing paints

and varnishes over last 60 years according to the Govt. Std. . The company also fulfill the

Std. Of Association of Paint and Varnishes.

According to the CEO. Mr. Anuj Pasricha & Mr. D.K. Pandey (Manager Sales &

Marketing) of Modi Paint and Varnish Company is going to enter into the Refined

Market in the current year Mr. Modi signed Code of conduct of Association of Paint and

Varnish Manufactures.

According to the company officials the company makes product with keeping the

following Schedule

For Government Concerns

For General Public

For Automobiles etc.

30
PIGMENTS:

The materials added to the paints to obtain desire final colour and to give opaqueness to

the paint are called colouring pigment. Few of the commonly used pigments are

Chrome Pigment

Thellocynine (For blue colour)

Thellocynine (For green colour)

Read Oxide/ Hallo Oxide/ Hensa Red (For red colour)

Carbon Black(For black colour)

RESINS:

The materials used in paints to give it the property of binding it with other in gradients

are caused to adhere two surfaces to be painted are called as Resins.They are used

properly in order to give glassy look to the paint certain reagent.

SOLVENT:

The materials used in paints to help it spread over the surfaces are called solvents. These

are used in order to make the paint thick or dilute viscosity of paints depend upon the

content of solvent in it. Solvents that are commonly used can be broadly divided in to two

categories.

31
Aroimatic- Xylene Touluene

Aliphatic- M.T.O. (Mineral Turpentine Oil)

ADDITIVES:

These are added in order to give extra properties to any kind of paints i.e. quick drawing

anti setting heat and resisting etc. According to need following agents are used

Drying Agent

Anti Setting Agent

Anti Skinning Agent

Heat Resisting Agent

ADULTERANTS:

The materials used to reduced the cost of paint and also to reduce weight and to increase

its durability are called adulterants. Barium Sulphate is widely used as an Adulterants

because of cheapness and its property not to react with paints, Calcium Carbonate,

Magnisium, Silicate, Silica are used as an Adulterants.

32
33
 CONSUMER’S BUYING BEHAVIOR

Understanding the buying behavior of the target market is the essential task of marketing
management under the marketing concept.

The consumer market consists of all the individuals and households who buy or acquire
goods and services for personal consumption.

Consumers vary tremendously in age, income, educational level, mobility patterns and

taste.

MODEL OF CONSUMER BEHAVIOR

Due to the growth in the size of firms and markets, marketing decision makers have been

removed from direct contact with their customers. Managers have had to turn to consumer

research. They spend more money in trying to learn : Who buys? How do they buy? When do

they buy? Where do they buy? Why do they buy?

How do consumers respond to various marketing stimuli, arranged by the company, is main

question. Therefore, business & academic researchers have invested much energy in researching

the relationship between marketing stimuli and consumer response.

Outside Stimuli Buyers Black box Buyer responses

Marketing Other

Product Economic Buyer Buyer Product choice

Price Technological Characteristics Decision Brand choice

Place Political Process Dealer choice

Promotion Cultural Purchase choice

34
 Purchase amount

MODEL OF BUYER BEHAVIOR

Their starting point is the stimuli-response model. Above figure shows marketing and other

stimuli entering the buyer‘s ―black box‖ and producing certain responses. The stimuli are of two

types. Marketing stimuli consists of the 4 Ps : Product, Price, Place and Promotions. Other stimuli

consist of major forces and events in the buyer‘s environment economic, technological, political

and cultural. All these stimuli pass through the buyer‘s black box and produce the set of buyer

responses : Product choice, brand choice, dealer choice, purchase timing and purchase amount.

35
 MAJOR FACTORS INFLUENCING CONSUMER

BEHAVIOR

Cultural

Culture Social

Reference Personal

groups

Age and life Psychological

Cycle stage
Occupation
Motivation

Family Perception
Subculture
Buyer

Learning belief
& attitude

Roles and
Social class
status

DETAILED MODEL OF FACTORS INFLUENCING BEHAVIOR

36
(A) CULTURAL FACTORS :

Cultural factors exert the broadest and deepest influence on consumer behavior.

CULTURE:

Culture is the most fundamental determinant of a person‘s wants and behavior. The child

growing up in a society learns a basic set of values, perception, preference & behavior

through a process of specialization involving the family & other key institutions.

SUBCULTURE:

Each culture contains smaller groups of subcultures that provide more specific

identification & socialization for its members. Four types of sub culture can be

distinguished.

(i) Nationality groups.

(ii) Religious groups.

(iii) Racial groups

(iv) Geographical areas.

37
SOCIAL CLASS:

Virtually all human societies exhibit social stratification. More frequently, stratification

takes the form of social classes. Social classes are relatively homogenously and enduring

divisions in a society, which are hierarchy ordered and whose members share similar

values, interests, and behavior.

(B) SOCIAL FACTORS:

A consumers behavior is also influenced by social factors, such as the consumer‘s

reference groups, family, and social roles and statuses.

(i) REFERENCE GROUPS:

A person‘s reference groups are those groups that have a direct or indirect influence on

the persons attitudes or behaviors. Groups influence will be stronger for products that will

be visible to others whom the buyer respect.

(ii) FAMILY:

Members of the buyer‘s family can exercise a strong influence on the buyer‘s behavior.

The family of orientation consists one‘s parents. From parents a person acquires an

orientation toward religion politics, & economics and a sense of personal ambition self-

worth & love. The following products and services fall under such.

38
• Husband-dominant : Life insurance, automobiles

• Wife-dominant : Mixer, Washing Machine, and Kitchenware

• Equal : Housing, Entertainment, and Housing Furniture

(iii) ROLES AND STATUSES:

Participating of buyer in the different groups as clubs, organization influence his/her

buying behavior. His/her position in the different groups can be termed as roles & status.

A role consists of the activities that a person is expected to perform according to the

persons around him/her. Each role carries a status reflecting the general esteem :

accorded to it by society.

39
( C ) PERSONAL FACTORS:

Personal factors a buyer‘s decisions by his/her personal characteristics, occupation,

economic circumstances, life style, and personality & self- concept.

(i) AGE & LIFE CYCLE STAGE:

People change the goods and services; they buy over their life time. They eat baby food

in childhood, most foods in the young age and special diets in the later year.

(ii) OCCUPATION:

A person‘s consumption pattern is also influenced by his or her occupation. A blue-chip

worker will purchase good clothes, care etc.

(iii) ECONOMIC CIRCUMSTANCES:

A person‘s economic circumstances will greatly affect product choice. His economics

circumstances consists of their spend able income, saving & assets, borrowing power.

(iv) LIFE-STYLE:

A person‘s life style is that person‘s pattern of living in the world as expressed in the

person‘s activities, interests & opinions.

40
(d) PSYCHOLOGICAL FACTORS:

A person‘s‘ buying choices are also influenced by four major psychological factors-

(1) Motivation

(2) Perception

(3) Learning

(4) Beliefs and Attitudes

( E) BUYING ROLE:

For many products, it is easy to identify the buyer. Men buy shaving Cream, Razor,

Cigarette etc. While cosmetic, pantyhose etc.

Thus, we can distinguish several roles people may play in a buying decision.

Initiator : One who first suggests or thinks of the idea of buying the particular

product or service.

Influencers : One whose views or advice carries some weight in making

the final decision.

Decider : One who ultimately determines any part of, or the entire

buying decision whether to buy, what to buy, or where to Buy.

41
Buyer : One who makes the actual purchase.

User : One who consumes or uses the product or service.

42
 TYPES OF BUYING BEHAVIOR

There are four types of consumer buying behavior based on the degree of buyer

involvement in the purchase and the degree of differences among brands.

High involvement Low involvement

Significant Complex buying Variety seeking buying

behavior
Differences Behavior

Between brand

Few difference between Dissonance reducing buying Habitual buying behavior

brand behavior

(a) COMPLEX BUYING BEHAVIOR

Consumers go through complex buying behavior when they are involved in a purchase

and aware of significant difference existing among brands. Consumers are highly

involved ma purchase when it in expensive, risky and highly expressive.

43
(b) DISSONANCE - REDUCING BUYING BEHAVIOR

When the consumers are highly involved in a purchase but see little differences in the

brands. It in based on the fact that the purchase is expensive, infrequent & risky. For

example, shopping for carpet.

(c) HABITUAL BUYING BEHAVIOR

Many products are bought under conditions of low consumer involvement and absence of

significant brand differences. A good example is the purchase of salt.

(d) VARIETY-SEEKING BUYING BEHAVIOR

Some buying situations are characterized by low consumer involvement but significant

brand difference e.g. in purchasing cookies.

44
45
 RESEARCH METHODOLOGY

Research methodology is a systematic way, which consists of series of action or steps

necessary to effectively carry out research and the desired sequencing of these steps. The

marketing research is a process of involves a number of interrelated activities which

overlap and do rigidly follow a particular sequence. It consists of the following steps.

1. Formulating the objectives of the study

2. Designing the methods of data collection

3. Selecting sample plan

4. Collecting the data

5. Processing and analyzing the data

6. Reporting the findings

46
 Objective of the study
(Effectiveness of sales promotion in print

media, consumer perception about scheme)

Research design
scheme)
(Descriptive research design)

Sample design
(Random sampling design)

Data collection
(primary data collection ,secondary data
collection)

Data analysis

Reporting of findings

47
 OBJECTIVE OF THE STUDY

The main objectives of conducting research on ―To study the consumer behavior among

urbanites for paints‖ are following—

 To study the awareness of paints.

 To study the purchasing behavior of urban people.

 To study the pre purchase behavior of paints,

 To study the post purchase behavior of paints.

48
 AREA COVERED

These are the places where I have collected data related my research project report

Ghaziabad :- 1. Raj nagar

2. Shastri nagar

3. Kavi nagar

DATA COLLECTION

Sample No. of respondent

Consumer 100

49
 DATA COLLECTION

PRIMARY DATA

The primary data are those data which are collected afresh and for the first time

and happen to be original in character. The primary data to be collected for the

study are----

By interviewing to the Marketing people.

By structured questionnaire.

SECONDARY DATA:-

Secondary data are those data have already been collected by someone else and

which already had been passed through the statistically process. The secondry data

to be collected fore the study are ---

Annual reports of each news paper company.

Newspapers, magazines, journals, books.

By internet websites

50
 RESEARCH INSTRUMENTS

STRUCTURED QUESTIONNAIRE

A questionnaire consists of a number of questions printed or typed in a definite order or set

of forms. It is the set of questions presented to the respondents for their answer. In my

study I‘ll be used structured questionnaire because sequence or series are required to ask

the question to respondent.

DATA ANALYSIS

Data analysis refers to the computation of certain measures along with searching for

patterns of relationship that exist along data groups, as the objective of study is already

divided in to two main parts, thus the data analysis of collected data is primary divide in to

two divisions as the field is completed and questionnaire have been received the task is to

prepare the ---

Consumer Behavior

51
 RESEARCH DESIGN

In my study, Descriptive research design are used because it provides information in a

described manner which is relevant to a research project . in this research design the

objective of the study is clearly defined and have accurate method of measurement with a

clear cut definition.

SAMPLING DESIGN

A Sample design is a definite plan for obtaining a sample from a given population . it

refers to the technique or the procedure adopted

In selecting items for the sample. The main constituents of the sampling design below-

Sampling unit

Sample size

Sampling procedures

52
SAMPLING UNIT

A sampling framework i.e. developed for the target population that will be sampled i.e.

who is to be surveyed –

Consumer behavior

SAMPLE SIZE

It is the substantial portions of the target population that are sampled achieve reliable

results.

Sample size- 100

RANDOM SAMPLING

Random sampling is chosen for my study. Probability sampling is also is also known as

―Random sampling‖ or ―chance sampling‖. Under this sampling design, every item of the

universe has an equal chance of inclusion in the sample it is, so to say, a lottery method in

which individual units are picked up from the whole group not deliberately but by some

mechanical process. Here it is blind chance alone that determine whether one item or the

other is selected. The result obtained sampling can be assured in the terms of probability

i.e. we can measure the error of estimation or the significance of result obtained from a

random sample, and this fact bring out the superiority of random sampling design over

the deliberate sampling design.

53
54
 NAME THE PAINTS YOU BUY

Paints No. of respondent Percentage of respondent

paints 45 45%

Nerolac paints 25 25%

Berger paints 15 15%

Others 15 15%

50 45
40
30 25
15 15 Series1
20
10
0
ts

rs
s
ts

nt

in

he
in

pa
pa
pa

ot
er
c
an

la

rg
i

ro

be
as

ne

55
Interpretation:

1. 45 % consumer prefer to Paint.

2. 25% consumer prefer to Nerolac Paint.

3. 15 % consumer prefer to Berger paint.

4. 15% consumer prefer to other paint.

DO YOU AWARE OF ALL TYPE OF PAINTS

Awareness No. of respondent Percentage of respondent

Yes 55 55%

Can‘t say 15 15%

No 30 30%

56
 60
50
40
30 Series1
20
10
0
yes can't say no

Interpretation:

1. 55 % consumer aware to yes.

2. 15% consumer aware to can‘t say.

3. 30 % consume aware to no.

57
 WHO IS THE DECIDER AT YOUR HOME

Decider No. of respondent Percentage of respondent

Father 45 45%

Mother 35 35%

Wife 15 15%

Other 5 5%

50

40

30
Series1
20

10

0
father mother wife other

Interpretation:-

4. 45% chance decide to father.

5. 35% chance decide to mother.

3. 15% chance decide to wife.

4. 5% chance decide to other.

58
 FROM WHERE U COME TO KNOW ABOUT PAINTS

Sources No. of respondent %age of respondent

For advertisement 55 55%

For magazine 25 25%

Other sources 20 20%

60
50
40
30 Series1
20
10
advertisement

other sources

0
for magazine
for

59
Interpretation:-

1. 55% for advertisement.

2. 25% for magazine.

3. 20% for other sources.

60
 PLACE FROM YOU BUY THIS PAINT

Place No. of respondent percentage of respondent

Market 35 35%

Super market 15 15%

Shop 40 40%

Supplier 10 10%

50
40
30 Series1
20 Series2
10
0
market super shop supplier
market

Interpretation:

1. 35% buy to the market.

2. 15% buy to the supermarket.

3. 40% buy to the shop.

4. 10% buy to the supplier.

61
 WHO INFLUENCE YOU TO BUY PARTICULAR PAINTS

Influences No. of respondent percentage of

respondent

Friend 15 15%

Family 25 25%

Advertisement 45 45%

Other 15 15%

50
40
30 %
20
10
0
Advertisemen
Friend

Family

other
t

Interpretation:-

1. 15% influence by the Friend.

2. 25% influence by the Family.

3. 45% influence by the advertisement.

4. 15% influence by the other.

62
 HOW FREQUENTLY YOU USE PAINTS

WHICH BRAND YOU CONSIDER BEFORE PURCHASING THE

PAINTS

Brand consider No. of respondent percentage of respondent

paint 38 38%

Nerolac 30 30%

Berger 27 27%

Can‘t say 5 5%

40

30

20 %
10
0
Asian paint Nerolac Berger Can’t say

63
Interpretation:-

1. 38% considering the paint.

2. 30% considering the Nerolac paints.

3. 27% considering the Berger paints.

4. 5% considering the can‘t say.

WHICH BRAND IS MOST EFFECTIVE

Effectiveness No. of respondent percentage of

respondent

Paints 40 40%

Nerolac 30 30%

Berger 20 20%

Other 10 10%

50
40
30
%
20
10
0
Asian Nerolac Berger Other
Paints

64
Interpretation:-

1. 40% say the paint is Most effective.

2. 30% say the Nerolac is Most effective.

3. 20% say the berger paint is most effective.

4. 10% say the other paint is most effective.

65
66
 FINDINGS

1. paint is leader in the area of Ghaziabad.

2. Nerolac is the main competitor of paints.

3. Advertising of paint is very supporting to increase the sell of paint.

4. paint has competitor price in Indian market.

5. paint has competitor price Indian market.

6. Sales promotion is another reason for increasing the ell of paint.

7. The consumer believes in the quality of paint.

8. All, the consumer who use the paint they are fully satisfied of this result.

67
68
 SWOT - ANALYSIS

STRENGTHS

1. A major change in the consumption pattern within the decorative segment is the

preference for water based paints. In India the most widely –used paints , till

recently , were the solvent – based paint even when water – based paints are more

eco-friendly and easy to use .The government regarded water based paints as a

luxury item and consequently taxes on input as well the finished products were kept

high thus making them unaffordable to the middle class .While the western would

was moving away from solvent based paints for environment reasons ,India was

India was in a way primitive the use of these paints .But with duties rationalized and

cost and price coming down the most preferred ones are for decorative purposes.

2. Industrial paints ate growing at a much heallthiesr5 rate then decorative segment

.The main reason could be the entry of worlds major in the Indian automobile sector

.Till recently the only foreign players on the Indian passenger car market was the

Japanese giant , Suzuki Motors .However , today there are at least six global cat

major operating in India. Korean major , Daewoo ; French car manufactures ,

Peugeot ; the German auto giant ; Mercedes and Opel and the American Ford , are

here to stay having set up base despite some initial wrangles over export obligation

.And , this setting up of bases necessarily implicates towards their needs for

industrial paint which they will be procuring from domestic marker , because

otherwise it will be that much costlier for them to export it from anywhere else.

69
3. The way companies operation have also under gone a drastic change – more choice

for the customer .The shade card game started by Paints some eight years ago with

its slogan ―Mera Wala green‖, is now being played by mostly all major players.

4. While the customer gets a wide choice and better service the company benefits in

two ways .One as stock has to be maintained only in one colour (the base colour ,

white ) the company saves inventory carrying costs .Second , as the missing is done

only on orders the company does not take the risk of stocking pre-mixed colour

shads with the dealer which might not get sold at all .All this means financial saving

.Also the tends to the most preferred shade can be determined by the company and

the production can be carried on accordingly.

70
 WEAKNESSES

A. People would love to have colorful walls , but definitely not dusty floors and

oily odorous .Sadly the former is not possible without the latter and it is the

paint industry which stand to suffer.

B. It may seem implausible , yet it is true .The inconvenience of painting alone

is not the cause for a slowdown in the paints industry .But it certainly adds on

to the following socioeconomic factors :

1.Imbalanced consumption pattern- The per capita consumption of pains

in India is low 0.32 kg as against 25 kg in the US. Further , the imbalance in

consumption takes two forms. First the ratio of pains consumed for decorative

and industrial purpose in India is 70 :30 Elsewhere the ratio is diametrically the

opposite , s it should be .Thus due to neglect of industrial protective use of paints

, India looses over Rs. 4,000 crore on account of corrosion .(Industrial paint are

made using red oxide, aluminum , zinc chrome ,bitumen etc. They posses

properties like water and electricity resistance and rust prevention and hence are

widely used of protection of steel concrete and wood )

Then there is also rural –urban imbalance .Paint being dubbed a luxury continue

to be increasingly sole in the metropolitan cities and big towns .though pain

companies have start to reach out to village a vast rural marker still remains

untapped .

71
 2. Primitive technology- The making of paint primarily involve the blending of

300 different item in various proportions .In most varieties of pains the technology

level is not very high .The capital cost per tonne is Fairly low at Rs. 12 crore for

25,000 tonnes . This has enables 2,000 small unit to set up manufacturing facilities

and peck away at 50 % of total Indian pains market ,the other 50% is accounted for

by 24 units in the organised sector .

3. High cost structure – The paints industry is raw material intensive .Nearly

70% of the raw materials are perto base (white spirit, xylene, toluene , butanol etc. )

Another major raw material titanium dioxide , has to be imported in large q2uantities

.To top it all is the nearly 36% excise levy (a 6% rise in the latest budget ).The irony

is that the government account for nearly 40% of the total paints sold in the country

.So industry source argue that every increase in excise means a corresponding higher

government outlay on paints. The excise structure reflects the luxury image of paints.

4. Other factors- These include the monsoons and the growth in the housing sector

.In fact , monsoons have a dual effect on the industry .On the one hand there is vary

little painting work done during the monsoon s. But at the same time, a Good

monsoon increases the purchasing power of the framers paving the way for higher

sales .

72
 OPPORTUNITIES

1. Unlike the decorative paints segment which is expected to grow at a slow rate of 3-

4% the demand for industrial paints is rising at an average rate of 10% .Industrial

paints have fairly high value addition d require a level of technology which cannot

be easily matched by the small sector ,The market leader seem to have taken

congnisance of this fact. For instance ,. paints has tie up with Devoe Marine Coating

of Us for marine painting .It has also tie up with Nippon paints of Japan for a coil

coating and powdered coating .Like wise ,Goodlass Nerolac has allied with Kansai

Paint for Sophisticated automotive sector paints s.

2. Stagnant demand combined with intense competition has taken its toll on some small

units .A similar shake up is expected in the organized sector too .Hence , he rfitter

unit would be better off eyeing takeover targets for expansion rather than going for

fresh capacities .

3. India has been a continuous importer of titanium dioxide in spits of enormous

reserves of the raw material , ilmenite. Deposits of ilmenite found along the coasts of

Kerala ,Tamil Nadu and orissa , are estimated to be around 160 million tones or 12

% of World resources ,.The quality is also reported to be of a higher grade .Thus

sooner or later world leaders of titanium dioxide technology (like Du Pont ) will find

it viable to enter into joint ventures with Indian companies .That should reduce cost

and selling price and lead to higher sales and profits.

4. Finally , there is immense scope for product innovation liked , in March 1991 ,MRK

introduced ‗Vapocure‘, an industrial process for product abroad is paint s-cement .It

73
 is made by adding ceramic compounds to the basic paint material and gives a better

―Finish ― to building exteriors.

Blend all this with economic stability (leading to control over inflation ) and good

monsoons over the next two year (implying overall higher purchasing power ) and the

paint industry can rightly dream of tomorrow many shades brighter than today.

74
 THREATS

When it comes to technology , the paints industry presents a strange case .The

manufacturing process of the final product is so primitive that every that every Tom

,Dick and Harry has mastered its! And , even the technology for only Tom ,Dick knows

the major raw material Titanium dioxide(Ti02) and harry!

In other words, manufacture of Ti02 is a closely guarded secret of only a handful of

players worldwide .The include Du point(USA) ,British Titanium Products Ishihare

(Japan) and Kronos (Australia ).Ti01 forms the base whit , for all paints .It comes in two

varieties rutile (used for exteriors ) and antase (preferred for paints used in interiors )

In India there are two unit both in the public sector manufacturing titanium dioxide –

Kerala Minerals and metals (KMML) and Tavancore Titanium products (TTPL)

.Domestic production however is stagnating around16,500 tonne against capacity of

37,000 tonne ,Further ,the quality too leaves a lot to be desire .Hence , imports of Ti02

continue at an increasing rate .

Nearly 70% of Ti02 produced /imported in India goes to the pains industry .Major paint

manufactures have tried to go in for backward integration into some of the raw material

(phthalic anhydride , co-polymers for plastic emulsions etc.) But all effort to make a

foray of Ti02 have not met the success. World rather than pass on technology to other i.e.

whopping 25 parties hold licensed /letter of intent for Ti02 but none have so far

materialize .

So as import bill of companies remain on the upbeat , thanks to the huge import billing

for Ti02 , the margins continue to take a beating.

75
STATEMENT OF THE PROBLEM

WHY THIS STUDY

 To get a general overview of the Indian paint industry.

 To identify the major players.

 To a ascertain the reasons for the industry not picking up.

Question Unanswered (Some recent Facts about the industry).

 Overall industry growth rate declined to 9%-10% in the current year from 12%. The

industry received a major setback in the fourth quarter due to the recent earthquake in

Gujarat. Though Paints, Goodlass Nerolac and Berger combined reported a 15%

growth in sales in the first half of the current year, growth wanted in the second half,

notably in the fourth quarter.

 The construction activity was subdued in the current year due to a less than average

monsoon and natural calamities in some of the key Eastern and Southern states. As a

result the decorative paint demand also declined. The Gujarat earthquake in the fourth

quarter was more pressing for paints companies.

 Industrial paint demand in the current year dropped due to a 7% decline in passenger

car sales and a fall in commercial vehicle volumes in the current year. One of the key

factors was the lower agricultural output, which affected the purchasing power of the

consumer, notably in the semi-urban and the rural markets. Despite interest rates cuts

and increase in depreciation rates, automobile demand did not show any sharp

uptrend in the fourth quarter also.

76
 Rutile titanium dioxide prices moved up from USS 1,800 per tonne last year to more

than US$ 1,950 per tonne, an increase of more than 11%. Since this account for

almost 50% of the raw material costs of paint companies, margins were strained.

Apart from this, prices of other raw material like mineral spind and tarriyl also by

20% and 18% respectively. Paint companies resorted to an increase in prices during

the current year, though not commensurate with the rise in input costs.

 Operating margins declined in the current year due to a rise in both raw materials was

sharp for the industrial paint segment, as these companies could not pass on the rise in

costs to their customers, primarily the auto companies (as these companies were also

witnessing declining sales).

 Exterior paint segment continued to grow at a fast rate compared with other segments.

The segment is estimated to be growing at CAGR of 15% per annum. New

productions from almost all the major paint companies in the exterior segment

performed well in the current year.

77
 SCOPE

The project under taken was to study dealer‘s perception regarding present trends in the

Paint industry market potential, consumer perception and various factors affecting the

buyers behavior.

Our study was restricted to the area of Ghaziabad and it includes the product varieties,

thinner, decorative and industrial paints.

The study gave a clear view regarding the factors influencing, The purchase decision like

price, quality, advertising promotional schemes, packaging, the finish of the product etc.

and the distribution policy followed by paints vis-à-vis its competitors. The company‘s

policies regarding profit margin, services, replacement etc. were given sufficient thought.

We looked in to the matter and found different factors where Paints could improve upon

and those places where paints was a quite ahead than it‘s competitors.

78
79
 RECOMMENDATIONS

1. The company should popularize the brand through massive advertising campaign

so that the people are well aware of its products.

2. The company should increase the dealer‘s margin so that they will be motivated

and make an effort to push this products first to the customers.

3. The company should offer the various schemes for the customers so that customer

attract towards their products.

4. Management should make aware their employees about sales volume and export

volume through meetings, seminars or through annual report.

5. Some incentive should be provided to motivate the employers on the basis of

good work done.

6. To motivate dealers, painter‘s and customers schemes should be updated from

time to time.

7. There must be an improvement in the quality of all brands.

8. The budget of advertisement should be increased in comparison to competitors. If

we want to compete with our competitors we have to spread our advertising

channel. We should do through various media, as audio, video press /print and

hoarding.

9. The company should strengthen the distribution channel so that as its products is

made available at every length and breadth of the city.

10. I have also observed that there is no proper service in some areas. There fore

service must be improved.

80
81
 LIMITATION

1. Time constraint:

a. The time duration of conducting the research w3as less. So lots of other

factors were ignored.

b. A large sample could not be taken due to same reason.

2. It was only possible to conduct the survey during free hours. The dealers did not

respond when contacted during peak hrs.

3. As the areas covered in the survey were off the route and the any convenient

mode of transport was not available. The investigator faced a lot of problem

4. Most of the consumer were ignorant and were not willing to respond that leads

inaccuracy in the data collected.

5. As the data was based on consumer perception, it might be biased to certain

extent.

82
83
 CONCLUSION

Investor, interested in any form of investing, should carefully look at the structure of the

paint industry. It has a large unorganized sector, which constitute approximately 40% of

the total production of paints .The organised sector comprises of handful of large units.

The categorization is important because of the differential in excise duties faced by these

two sectors .The differential , however , has narrowing since 1993 and the excise duties

between the organized sector is now at 18% (from the highest of 40.25% ). With the

narrowing of he differential in excise duties between the organised and unorganised

sector, the market share of the organised sector is expected to grow in the future .The

small sector will probable start contact manufacturing for the large units or may develop

niche markets based on location.

The industry can further be divided into two broad segment – decorative (architectural )

paints and industrial paints .The decorative segment is the dominant segment, in terms of

sheer volume ,in contrast to the developed economies where industrial paints normally

have half the market .The decorative paints market can be further be subsumed into

emulsions , synthetic enamels , distemper and cement paints. The essence of the small

sector is in the easier to evaluate lower-end products such as distempers and cement

paints whereas the middle range enamels and the premium range emulsions are the

terrain of the large players.

84
The industrial paints segment comprises of the industrial coating the automotive coating

segment .The main growth for the industrial paints market has been the high growth in

automotive coating , with the entry of the auto majors (multinationals) resulting in a

literal boom in this sector.

There are more than 300 input going into the manufacturing process of paints of which

70% are petroleum based .The raw material are Pigments.

85
86
 QUESTIONNAIRE

NAME:-

ADDRESS:-

TELEPHONE NO:-

Q.1.Name the paints you buy?

a. paints [ ] b. Nerolac paints [ ] c. Berger paints [ ]

d. other [ ]

Q.2. Do you aware of all type of paints?

a. yes [ ] b. can’t say [ ] c. no [ ]

Q.3. Who is the decider at your home?

a. father [ ] b. mother [ ] c. wife [ ] d. other [ ]

Q.4. From where you come to know about Paint?

a. for advertisement [ ] b. for magazine [ ] c. other sources [ ]

Q.5. Place from you buy this paints?

a. Market [ ] b. Supermarket [ ] c. shop [ ] d. supplier [ ]

87
Q.6. Who influence you to buy particular paints?

a. Friend [ ] b. family [ ] c. Advertisement [ ] d. others [ ]

Q.7. Which brand you purchase?

a. Branded [ ] b. Non branded [ ]

Q.8. How frequently you use paint?

a. party [ ] b. Marriage [ ] c. Festival [ ] d. Other occasion[ ]

Q.9. Which brand you consider before purchasing the paints?

a. Paint [ ] b. Nerolac[ ] c. Berger[ ] d. can’t say[ ]

Q.10. Which brand is most effective?

a. Paints[ ] b. Nerolac[ ] c. Berger[ ] d. other[ ]

Q.11. what expectation you want in the paints?

a. For shining[ ] b. Attractive color[ ] c. for longer duration[ ]

d. for safety[ ]

Q.12.Have you re-purchase the brand of paints?

a. yes[ ] b. no[ ]

88
Q.13.For what time you purchase the paints?

a. For monthly[ ] b. for yearly[ ] c. every 3 year[ ]

d. every 5 year[ ]

Q.14.What is the De-composition of paint packaging?

a. Destroyed[ ] b. re-sell[ ] c. Daily use[ ] d. As a show peace[ ]

Q.15. What type of brand promotion scheme pulls you towards paints?

a. Discount[ ] b. Higher margins[ ] c. Gifts[ ] d. others[ ]

Q.16. Rank of the following brands according to demand.

BRANDS RANK
PAINTS
BERGER PAINTS
NEROLAC PAINTS
ANY OTHER

SIGNATURE OF THE CONSUMER

89
 BIBLIOGRAPHY

 C. R. Kothari ―Research Methodology‖ Second Edition, Wishwa Prakashan.

 Donald S. Tull, Dell I. Hawkins ―Marketing Research‖ Sixth Edition, Published

by Ashok K. Ghosh, Prentice-Hall Of India Pvt. Ltd.

 Business Today ―paint industry‖ Page 25 March 2005.

 Business world ―growth of Paint ― Page 35

Feb. 2005.

 www.paints.com
 www.google.com

90