Olympic paints Marketing Mix (4Ps) Strategy

Product
Olympic Paints’ products includes recycled imported Acrylic, Oil Based paints which is of high quality
as compared to other Indian offerings and are economical than the products of existing brands like
Asian paints and Nerolac. Other products include Polish, Primers (Oil based, Water based), Speciality
Paints and Waterproofing chemicals. The products in the marketing mix of Olympic Paints provides a
complete painting solutions targeted at economy segment.

Price
Resin and Pigments offers cost leadership in this competitive market, but supplying paints of high
quality, comparable with leading brands. Olympic Paints products are priced lower (generally 50-60%)
than its competitors like Asian paints, Nerolac. The pricing decisions depends heavily on raw
materials, petro-products, taxes, excise duty and various other factors.

Place
Olympic paints is present mainly in Madhya Pradesh, Chhattisgarh, Tamil nadu and other parts of
India. The company is presently operating in the unorganized sector, with local paint dealers and
traders, building contractors and paint manufacturers through its well-established network of
distributors. Resin and Pigments is well established in Indore, Sivakasi, Madurai, Kolkata and Mumbai
in India, and also has base in the US, with strong growth in all its markets.

Promotion
The promotion strategy used by the Olympic paints is conducting promotional events with painters,
retailers, Newspapers ads, distributions of collaterals all targeted to the price elastic customer and
positioned as high quality imported paints at lower price. The promotions also include incentives to
the painters, distribution of caps and added privileges to its distributors.

Market Research
We have conducted primary market research to understand the
consumer, buying behaviour, price elasticity, brand loyalty and
psychography. For this we carried out focused group discussion with
consumers, depth interview with painters and paint retailers and
distributers. We tried to gauge the current level brand awareness
among the retailers and distributers also the preference among the
customers for eco-friendly and recycled paints. Also the perception
among the consumers for imported paints and weather they can pay
premium for it.
Findings
Buying behaviour; The paints are mostly bought over the counter with
no preconceived preference of brand but customer likes to buy a trusted
known brand which they have seen some advertisements and have
perception of good quality. The consumer himself makes the buying
decision with consultation with the painters. The perceived quality of
paints is prime factor in buying decision.
Price elasticity; Price elasticity is low in this segment consumers are
more concerned about quality of the product and are ready to pay
premium, as it is a one-time investment in two or three year.
Eco-Friendly product; While the consumer in India are preferring eco-
friendly product in other segments like food and FMCG product but in
products like paints consumer take it as an added advantage if given at
same price with assurance of quality. At the same time consumers are
apprehensive with the recycled product and are suspicious about the
quality of recycled product.
Brand awareness; The brand awareness of the Olympic paints or the
Resin and pigments is low. There was low level added recall among the
customers. There was not any unaided recall for the brand.