RAINBOW PAINTS INDUSTRIES

Submitted by:
Syeda Bisma Naeem (48809)
Taha Yousuf (48873)
Muhammad Noshad (48876)
Jawed Iqbal (48830)
Muhammad Fahad Qureshi (49790)

A Research Proposal
Submitted as a mandatory requirement for
the course of Research Project-I in the
program,
Bachelors of Business
Administration at Iqra University,
Main Campus Karachi, Pakistan

Nov 2022

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 Acknowledgement

We are extremely grateful to Rainbow Paints for sharing with us beneficial knowledge and assisting
us in completing this report. A special thank you goes out to Sir Irfan Haider Shakri of Iqra
University for his guidance, priceless suggestions, and persistent encouragement without the help of
which we could not have finished the work. Working under his direction has been a proud
accomplishment for us.

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 Table of Contents

Introduction.....................................................................................................................................................................4
Background.....................................................................................................................................................................4
History of the Company.........................................................................................................................................4
Background of the Project......................................................................................................................................4
Reason for Selecting Rainbow paints industries....................................................................................................4
Company’s Profile..........................................................................................................................................................4
Vision Statement....................................................................................................................................................5
Mission Statement..................................................................................................................................................5
Objectives of the Company....................................................................................................................................5
Objectives of this Project................................................................................................................................................6
Definition of Key Terms.................................................................................................................................................6
Customer Preference................................................................................................................................................6
Brand Awareness.....................................................................................................................................................6
Loyal Customer........................................................................................................................................................6
Customer Satisfaction...............................................................................................................................................7
Competitor Analysis.......................................................................................................................................................7
SWOT Analysis..............................................................................................................................................................8
Industry Background.......................................................................................................................................................9
Competitors...................................................................................................................................................................10
Nelson Paints.........................................................................................................................................................10
Gobi’s Paints..........................................................................................................................................................10
Diamond Paints......................................................................................................................................................10
Berger Paints..........................................................................................................................................................11
Area of Investigation.....................................................................................................................................................11
Significance of the Project............................................................................................................................................11
Work Plan Methodology...............................................................................................................................................12
Approach..............................................................................................................................................................13
Sampling Technique............................................................................................................................................13
Sample Size..........................................................................................................................................................13
Instrument of Data Collection..............................................................................................................................13
Data Collection....................................................................................................................................................13
Ethical Consideration....................................................................................................................................................14
Industry Experience......................................................................................................................................................14
References.....................................................................................................................................................................15
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Introduction

Rainbow Paint is one of the oldest and dynamic paint manufacturers of Pakistan. They enjoy the
privilege of being the 8th paint manufacturing facility to be awarded a license to operate and
produce paint in Pakistan. Since paint is classified as a luxury article, one of their agenda is to
supply paint to the diverse social classes maintaining high quality. The multi-sector conglomerate
Globe Group Limited, which has significant holdings in both the manufacturing and service
sectors, is the holding company of Rainbow Paints. Their products are the best in the market and
highly recommended by architects, builders, developers and contractors for using it extensively in
any bulk quantity. Rainbow has truly revolutionized paints’ segment in Pakistan and was also the
first local paint manufacturer whose products are available throughout Pakistan.

Background

History of the Company

One of Pakistan's first paint manufacturers is Rainbow Paint. Rainbow paint was formerly
established in the year 1981. Rainbow produces a diversified range of paint and related product
such as decorative, industrial, marine coating and wood coating. Specialized and high-performance
coating products are also developed for projects. Rainbow has its headquarter in Karachi and has
regional offices in major regions such Islamabad and Sukkur. Rainbow’s main production plant is
also located in Karachi.
They have come a long way by strictly adhering to their policies and now have become pioneers in
the Pakistan paint market by introducing various revolutionary and groundbreaking products which
has provided them a competitive edge in terms of quality. They were the first manufacturer in
Pakistan to launch and formulate “Semi Plastic Emulsion” which brought high quality paint to
masses at cost-effective, reasonably priced package with a wide variety of shades.

Background of the Project

Rainbow Paints is one of Pakistan’s most established and successful paint producers. They have
always had a purpose to produce high-quality paint for the country’s beautification and to meet
need at the most affordable, competitive prices while keeping standards and quality.

Reason for Selecting Rainbow Paints

The aspiration to work for Rainbow paints is that company is amongst the first companies in
Pakistan to be awarded ISO 9001:2000 certification in the paint manufacturer and marketing
segment. It will be a contribution in the paint and coating industries.

Company’s Profile

The amazing "Discovery Shades," among other things, were initially introduced by Rainbow
paints. Their R&D team's water-based emulsion paint "Discovery shades" are premium shades that
they have developed. These are a cost-effective adaptation of the oil-based "silky smooth" line of
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paint colors. They have a higher price tag than standard emulsion colors since it costs more to
make them. The first company to introduce these colors into Pakistan was Rainbow Paints, and
they also have the country's greatest selection of these unique colors. Due to this, Rainbow Paints is
now a leader in the sector.

Vision Statement

Rainbow Paints aims to be the leader in providing quality and economical, industrial and
decorative paints.

Mission Statement

To be one of the leading paint companies by providing consumers with the highest quality product
at best prices while upholding sound ethical values.

Objectives of the Company

 The main objective of Rainbow Paints is to manufacture and market high quality paint
products to its customers
 Providing products responsibly and profitably in an innovative way to examine that their
customers continue being loyal to the brand.
 To examine an in-depth understanding of the customer and client needs.
 To create an environment of cooperation and teamwork across the company.

Rainbow Paints Industries Portfolio

Decorative Finishes Industrial Finishes Marine Paint

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Product we selected for our Research project

Objectives of this Project

 To examine that their customers are still being loyal to the brand or not.
 To examine if they are providing outstanding customer service and satisfaction as they were
doing it from starting.
 To evaluate that potential customers of Rainbow paints are aware about the availability of
product in the market.

Definitions of key terms

Customer Preference
Consumer preference is characterized as an individual's subjective preferences for particular products,
as determined by how satisfied they are with them after making a purchase. Utility is a common term
for this satisfaction. The consumer utility of various products can be used to compare consumer
value. Customer satisfaction with a particular product can be contrasted to the opportunity cost of that
product since every time a customer buys one product, they lose the chance to acquire a rival one.
Brand Awareness
The extent to which consumers can recall or recognize a brand under various circumstances is known
as brand awareness. One of the two dimensions of brand knowledge, which is based on an associative
network memory model, is brand awareness. Brand recall and brand recognition are the two halves of
brand awareness. According to numerous researches, brand recall and brand recognition function in
fundamentally distinct ways from one another since brand recall is linked to memory retrieval while
brand recognition entails object recognition.
Loyal Customer
The likelihood that a customer will do business with a company or brand again is measured by their
level of customer loyalty. It results from client contentment, satisfying client interactions, and the
general value of the products or services a client receives from a business. Customers who are
devoted to one brand are not readily swayed by availability or cost. As long as they receive the same
high-quality goods or services they are used to and adore, they are willing to spend more. Other traits
of a devoted clientele include the following:

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  They are not actively looking for new suppliers.
 They are more likely to recommend a brand to their friends and family.
 They are not interested in sales pitches from rival companies.
 They are open to additional products or services offered by a specific company.
 They are more forgiving when problems arise and trust a company to fix them.
 They provide feedback on how a brand can enhance its products or services.
 As long as there is a need, they will continue to buy from a particular company.
Customer Satisfaction
When a person compares the perceived performance or outcome of a product to his or her
expectations, Philip Kotler defines customer satisfaction as "a person's feeling of pleasure or
disappointment." Despite the fact that Kotler utilizes equivocal words like pleasure and
disappointment, the definition is clear. Here, perceived performance and expectations are a function
of customer satisfaction. The consumer's perception of the quality of a product or service is known as
perceived performance. On the other hand, the following factors have an impact on buyer
expectations:
 Product performance in the most recent period
 Referrals, suggestions, or testimonies
 Reviews
 What rival companies have to say about the good or service
 what its own advertisers claim

Competitor Analysis
Competitor analysis is “Identifying key competitors; assessing their objectives, strategies, strengths
and weaknesses, and reactions patterns; and selecting which competitors to attack or avoid”

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SWOT Analysis
Strengths Weaknesses
 Limited Capital due to single Owner
 One of the oldest paint industries of
Pakistan.  Poor Distribution
 Has an established market  One type of Quality Product
 Experienced workers  Mismanagement of Supply
 Unique marketing
 It comes amongst the top ten paint
companies of Pakistan.
 No compromise on quality as they make
only one quality product
 First company to make lead free paint
 Thousands of colors can be made through
color magic
 Have done projects like Mohatta Palace, 4
minar chowrangi, Quaid e Azam University,
PAF museum, Pearl continental Bhurban.

Opportunities Threats
 Room For Growth like Expansion into  Price Sensitive consumers
different Paint segmentations  New Entrants in the market
 Vertical Integration
 Uncertain Economic condition of Pakistan
 Online Sales because e-commerce is
 Competitors selling paints at lower prices.
booming
 Paint Industry depends on construction
 Promote Do it yourself
Industry
 Introduce second quality product
 Uncertain Raw Material Cost
 Can export to other countries

 Rainbow is one of the Oldest Paint Industries of Pakistan.

 They ensure that they have best and experienced workers who Gives the best output.
 It has Unique Marketing Strategies like Advertising on Police chowkis and Rangers.

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  It ranks amongst the top 10 Paint Companies of Pakistan.
 They don’t compromise on their quality as they deal with only one Quality product not like
other industries such as Diamond who makes different qualities of product and claim that they
provide best quality and doesn’t compromise on the product and its quality.
 Different colors can be extracted and can be made through color Magic, a machine which
makes paint and provide you with the different options of color at a certain cost.
 Due to single owner the Capital invested in the company is limited.
 Sells premium quality in Economical Prices while others deal with different types.
 They have different opportunities for growth like vertical integration as unfinished goods like
bucket can be manufactured.
 Online Sales is increasing because of the rise in E- commerce i.e. doing on Daraz.
 Provides export opportunities to other countries.
 When you own a company there are certain threats you have to face in the form of
competitors or new entrants in the market who can play with prices by offering the product at
lower rates.
 Uncertain Economic condition of Pakistan is yet another biggest threat for the established
companies as well.
 Paint industry is directly or indirectly dependent on the construction Industry.

Industry Background

On the strength of the recent years' excellent domestic economic performance, Pakistan's paint and
coatings industry has seen continuous expansion. With good development in the manufacturing
sector, ongoing expansion in the construction industry, and a healthy contribution from the services
sector.

Although the value and volume of the paint and coatings sector in Pakistan are not officially
recorded, the majority of industry participants estimate its value at PKR 37 billion ($306 million).
For the past five years, the industry has experienced annual value growth of four to seven percent.
In the last few years, there has been impressive growth in the construction industry in Pakistan,
which has given opportunities to all players in the architectural segment.

Much like the other countries of South Asia region, the Pakistani paint and coating industry has a
huge unorganized sector, which caters to the price-sensitive consumers in the country. On a value
basis, the unorganized sector accounts for 34 percent of the total industry. There are about 110
small and very small paint producers in this segment. These producers cater to the vast market of
semi-urban and rural areas, where prices are the most decisive factor in buying the paint brand.
Organized sector producers often complain that these producers have lowered the quality bar in the
paint industry.

The architectural segment accounts for about 81 percent of the total paint consumed in the country
on a volume basis. New investments, especially China Pakistan Economic Corridor (CPEC) are
expected to give a much-needed fillip to the Pakistani paint and coatings industry in coming years.
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Competitors

Nelson Paints

Their whole array of tree marking, industrial, and domestic paint products are backed by more than
82 years of paint marking expertise at Nelson Paint Company. The Nelson Paint Company,
founded in 1940, is still run by members of the same family. Their secret is to provide amazing
quality and first-rate customer service.
The paint that Nelson Paint produces is made to resist the worst weather conditions. For each
industrial use, they employ formulae created to endure searing heat, bitter cold, bone-dry, and
extremely humid environments.

Every Nelson Paint product is created to offer their clients the finest quality and value possible. To
make sure that the customers are completely delighted with their products, they employ more
pigments and solids in their paint than other producers.

Gobi’s Paints

Since 1981, Gobi’s Paint Pakistan (also known as Gobi's Paints) has been a well-known paint
company in Pakistan. Gobi’s Paints has worked hard for a very long time to earn the trust of the
public. It is one of the leading paint manufacturers in Pakistan, offering clients a selection of color
hues. They at EZMakaan are currently offering a special service to the public. In Karachi, Pakistan,
you can now purchase Gobi’s paint online just like any other product.

A top producer in Pakistan, Gobi's Paints is committed to expanding its development,

manufacturing, distribution, and service of top-notch coating products in the UK. They offer
cutting-edge, excellent, and sustainable solutions to the public using cutting-edge European
technology. They stand out for the superior product quality, high level of professionalism,
innovation, and unmatched customer service that we provide. They provide a wide range of
decorative and protective coats, industrial paints, vehicle refinishing chemicals, and construction
chemicals since they are experts in bespoke paint and coating variety and have set standards in the
business. Gobi's Paints still provides services to millions of residents, commercial. With its
selection of high-performing coatings, specialty chemicals, and application technologies, the
company serves both industrial sector clients and consumers. They take pleasure in the dedication
to provide a welcoming experience for each of its customers.

Diamond Paints

The benefits of more than three decades of dedication to creating outstanding products and
unmatched hues include: Pakistanis prefer diamond paint above all other colors. In Sunder
Industrial Estate, they inaugurated the biggest integrated paint manufacturing facility in Pakistan in
2018. To guarantee that they provide our customers with paint of the highest caliber, they create
their own resins and water-based pigment dispersions. Their credentials attest to their dedication to
provide both their clients and staff the best possible service.
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By producing high-quality paints and coatings in Pakistan and selling them globally using cutting-
edge technology and creative procedures that adhere to international standards, they meet all of the
clients' decorative and protective needs.

Berger Paints

In Karachi, Berger opened its first local manufacturing unit in 1955. The need for high-quality
paints increased along with the country's economic and industrial sector, and Berger proceeded to
extend its product line to satisfy these demands.

Berger built a cutting-edge manufacturing facility in Lahore in 2006. With its current headquarters
in Lahore, Berger currently serves the needs of its cherished clients on a countrywide scale.

For diverse paint market categories at varying price points, Berger has the most extensive product
line. Customers admire and trust Berger because of its exceptional technology, high-quality
products, and

Area of Investigation

The issues faced by Rainbow Paints is sales and distribution. As in contrast, other businesses
produce goods in price ranges that are above 4000 or less than 4000. In other words, they generally
target every class, which is why their sales are rising. Rainbow Paints only produces goods of one
quality, which is the premium quality. There are numerous methods that can be used to determine a
product's position. Our study will examine the perceived worth of current Rainbow Paints clients,
and it will do so by taking into consideration the sample characteristics that are described below.

We will identify potential areas through surveys. This market study's main objective is to assess
potential Rainbow paint customers in Karachi in terms of the products' accessibility. This survey
includes consumer perceptions of the product and consumer insights. Through this study, the
crucial discrepancy between consumer preferences and the product that the company is offering
will be found. Through the best media outlet, the corporation can more precisely address its target
market. The study includes all of the goals the Rainbow company has for marketing their product,
which are to maximize income in the market they are in and to take the lead in that market.

Significance of the Project

It will be investigated how well-informed potential customers are about Rainbow paints'
availability on the market and the degree to which their perceptions of the value of the product are
met.

The results of the market research will help the business in several decision-making processes. The
results of consumer preference surveys will help decision-makers choose the media for advertising,
position a product, and create marketing plans for that product which will assist in developing
strategies to counter their approaches. If necessary, the company will be able to add more features
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to the product, which will undoubtedly boost consumer happiness and ultimately help them realize
their goal of dominating the market.

Work Plan Methodology

This section of the market research proposal must include the usage of the actions and procedures
that will come after these stages in order to collect the data for this proposal. The market research
approach helped to facilitate the strategic plan research by creating a baseline of existing activity.

The planned sequence of events that will take place to guarantee the success of this idea is outlined
below.

The questionnaire The Survey

will be designed will be
with the conducted at
consultation of the specified
Rainbow’s locations.
management.

The
collected
data will be Report
entered and Writing
analyzed.

Final
presentation

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Approach
A pair of quantitative research methods based on survey instruments will be the strategy for the
market research. After carefully examining consumer behavior and consulting with marketing
department managers, survey questions will be created. The survey's goal is to gather feedback on
how customers perceive value and expectations. The survey questionnaire will be created by
combining the administration's suggestions and the customer's understanding of Rainbow Paints. The
purpose of this survey is to gather consumer impressions and opinions about their degree of
satisfaction with and motivations for purchasing a specific product. In particular, this survey will;
• Examine the justifications people give for using a particular product.
• Choose the most effective method(s) for communicating the brand's positioning.
• Ascertain how customers view the product.
• Evaluate the degree to which customers are attached to the product and the value it provides.

Sampling Technique
The sampling technique will be convenience sampling (Non-probability). We will only target those
respondents who have been the customer of Rainbow paints.

Sample Size
100 respondents, which is the study's typical sample size, are chosen. The survey will be completed
by 100 persons.

Instrument of Data Collection

A questionnaire will be used to collect the data. The questionnaire will be created using a closed-
ended methodology and will include all the inquiries that clearly highlight the goal of the consumer
research project. The questionnaire will be useful for research to obtain firsthand data from the target
audience. The questionnaires will use a Likert scale with a maximum of five points, with 1 denoting
"strongly disagree" and 5 denoting "strongly agree." A score for the measure will be generated by
adding together the responses.

Data Collection
Rainbow Paints' customers will serve as the survey's respondents. The survey is anticipated to be
conducted from about 100 consumers.

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The group members will analyze each piece of data under the guidance of an expert tutor, Irfan
Haider Shakri will be given a draught report that is written in clear terms.
The final report will take comments and advice into account.
All group members will perform the survey in various parts of Karachi. The customer survey will be
done in the first week of each month.

Ethical Consideration

The following code of ethics and principles shall apply to this market study.
1. Respect for research subjects will be given first priority.
2. Prior to the study, participants should provide their complete consent.
3. It is necessary to ensure that study participants' privacy is protected.
4. Sufficient confidentiality of the study data should be guaranteed.
5. It is necessary to guarantee the anonymity of the people and organizations taking part in the
research.
6. Any misrepresentation or exaggeration of the research's goals and objectives must be avoided.
7. All research-related communications will be made in an honest and open manner.
8. Misleading information of any kind and biased reporting of primary data findings will be avoided.

Industry Experience

Syeda Bisma Naeem (48809)

Conducting market research was a necessary component of our course's "Research Project" in order
to learn more about business trends, and that's exactly what we did. One of my finest choices was
Rainbow because it truly assisted me in understanding things practically as well. Working with such
reputable businesses is always a pleasure, and this resonates to the results.

Taha Yousuf (48873)

 Selecting the company Rainbow paints for a Research project proved to be a wise move as it
enhanced my learning skills regarding different research objectives. I discovered how basically
marketing and management works. We discovered different problems, where the organization lacks,
what are the possible solutions etc.

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Muhammad Noshad (48876)

We visited a company as part of our study project since we needed to learn more about the problems
affecting different industries. We decided to travel to Rainbow Paints after selecting the paint sector.
We gained deeper knowledge of the organization's rules and practices during corporate visits. We are
able to understand how businesses operate. Our group received a warm welcome from the
administration, who also showed us such kindness and didn't keep us waiting for too long.

Jawed Iqbal (48830)

The manager's explanation has improved my understanding of numerous prospectuses. He gave a

thorough explanation of his product's whole supply chain. After visiting the company, I genuinely
learned how an organization functions and how various strategies are carried out so seamlessly.

Muhammad Fahad Qureshi (49790)

In order to complete this research assignment, it was necessary to visit any organization and
determine the problems that they are having in the present business climate. This assignment
provided me with a wonderful opportunity to obtain a remarkable learning experience. This research
led to a better grasp of the customer's perspective through the chosen product.

References

https://scholar.google.com.pk/scholar?
q=quantitative+research&hl=en&as_sdt=0&as_vis=1&oi=scholart

https://gobispaint.com.pk/

https://berger.com.pk/

https://rainbow-paints.com/

https://rainbowpaints.mw/

https://www.rozee.pk/company/rainbow-paints/about

https://rainbow-paints.com/about-us/our-history

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