Problem Background:

Paints, India’s largest paint company, has begun its operations in Bangladesh. The entry into Bangladesh marks Asian Paints 11^th joint venture in international markets and its largest green-field venture in overseas markets. The opportunities that the Bangladesh market provides for Asian Paints are immense. Because of boom in real estate development, trend from rural base to urban base project, the trend of using paint instead of the traditional way of whitening dear houses, and consistent GDP growth rate are some of the major reasons that the market provides high potential for growth as well as an opportunity for paint manufacturers to upgrade and expand the market for the consumers of Bangladesh. The experience that they have gained from operating in three out of six countries in the SAARC [South Asian Association for Regional Cooperation] region has armed them with excellent expertise to operate in Bangladesh. They would like to provide value for money and the complete range of products for the Bangladeshi consumer.

Asian Paints has introduced the Apcolite range of products, which is its premium quality range in international markets, and the Decora range, which is another international brand for the price oriented consumers of Bangladesh. Under the Apcolite and Decora brands, many product segments have been covered to meet the customers diversified needs of Bangladesh. Asian Paints has entered into segments like interior wall finishes, the exterior segment, enamels and the wood finish segment through the above-mentioned brand names to meet the customer’s specific needs by offering customized product and services. The company has also introduced the concept of multiple shade choice to the Bangladeshi consumer in most of its emulsion paints. The launch of multiple shades in its Apcolite range of emulsions will provide to Bangladeshi consumers, for the first time, a wide choice of customized colors that was not previously provided by any paint company in Bangladesh. Here the study will be conducted to identify the satisfaction regarding the product and services offered by Asian Paints Bangladesh Limited.

Literature Review:

To identify customer satisfaction of the customers of Asian Paints Bangladesh Limited, extensive analysis can be done by analyzing the different appropriate sites and by making the concerned awareness of the benefits and wide range of products available for all possible customer segments. Here we have to assess the needs of the target market, judging the perception of customers regarding the customized product and services that the Asian Paints offered, and making sure that the product is available whenever and wherever needed.

 However the company has a reputation for professionalism, Strong governance and fast-track growth. Customers are at the core of all Asian Paints business activities. A simple but unbeatable concept of “going where the customer is” drives all its major initiatives. In 2001 Asian Paints executives realized that the firm’s long-term growth depended on their ability to forge ever-closer ties to the end consumer and proper customer satisfaction. At the same time, the Asian Paints research revealed that consumers always express a need for a more complete solution to their home painting needs – and Asian Paints learned that they had demanding expectations when it came to service and overall project execution.

Asian Paints now has one centralized system for managing all customer data, which provides greater visibility into customer needs and is now available for use in campaign management and in the development of predictability models, among other activities. And because this data is available in real time, reports can be generated instantaneously.

Research Questions & Hypotheses:

A structured questionnaire has been used to collect data. Multiple choice questions and dichotomous questions have been used to develop structured questionnaire.

 RQ 1: Is it possible to identify customer satisfaction about the product of Asian Paints?

 H₁: Yes it is possible toidentify customer satisfaction about the product of Asian Paints

 RQ 2: Are the current products provided by Asian Paints are sufficient to satisfy its customers?

 H₁: Current products provided by Asian Paints are sufficient to satisfy its customer.

Management Decision ProblemShould Asian Paints do something new to improve the satisfaction level of its customer?

Marketing Research Problem   To determine the factors those affect the satisfaction level of customers of Asian Paints.

Broad Statement:

“Customer satisfaction of the customers of Asian Paints Bangladesh Ltd.”

Specific Components

1. To analyze current satisfaction level of the customers
2. To determine the factors that affect customer satisfaction
3. To analyze customer perception, preference or loyalty regarding the product and service
4. To find out whether current products meet consumer expectations or not
5. Respondents preference for different offers are decomposed to determine the persons inferred utility function for each attribute and the relative importance of each of the attribute.

1. 1.      Dependent Variables

• Customer satisfaction

1. 2.      Independent Variables

 Type of Research

 There will be a two-stage research. At the first stage, an exploratory research will be conducted to identify the variable that affects customer satisfaction level using secondary data analysis, expert Surveys. After that descriptive research will be conducted to measure the relationship among variables.

Data Collection Method

Data will be collected through Survey questionnaire.

Sources of Data

  Primary Sources:

Survey

  Secondary Source:

• Different Websites
• Brochure of companies
• Various articles journals & reports
• Other published materials

Sampling design

Target population

The user of Asian paints in the geographical base of Dhaka city

Sampling Frame 

   List of household of Dhaka city that can be found by websites or Dhaka City Corporation.

  List of Customer, Dealers, and employees in Dhaka city from Asian Paints.

Sample unit

Sampling unit consist of the respondents. For that reason we divided the total population in to some group.

  The knowledgeable respondents.

• Higher Upper class
• Upper Class
• Upper Middle Class

 Sampling techniques

 A non-probability judgmental sampling technique has been followed in which the sample elements have conveniently selected.

 Sampling Size

Sample size is 50 respondents.

Customers

The detailed area wise customer is given below. We have selected the 50 customers based on judgment. Sample Size for the customer 50.

Scaling techniques

A questionnaire will be administered through personal interview. A draft questionnaire is presented. 9 point likert scale, structured multiple choice questions and some dichotomous screening question will be included if needed to collect primary data.

 Sample Characteristics

Demographic  

Age                                                    Age group 30-40, 41-50, 51 to above…

Occupation                                    Service holders, Businessman, Managers,

                                                                       Architects, Engineers, Painters

Social Class                                    Upper class, upper middle class

Behavioral

User status                                     Regular user, first time users

Loyalty status                               Medium, strong

Geographical

Area or Districts                         Dhaka city only

Questionnaire development and pretesting

 Structured and unstructured questions are used to obtain needed information in 4 pages. The questionnaire is pretested on minimum five respondents and data are used to test analysis process in SPSS software. We can change the questionnaire depending on pretesting results.

We shall do the fieldwork. For this purpose, we shall try to follow the guidelines suggested by Naresh k. Malhutra (5^th Edition) chapter thirteen of the textbook.[2] We also shall try to ask questionnaire as simple as the respondents can understand.

Data collection, preparation, analysis, and reporting using:

a)      Analysis of Variance

b)     Regression Analysis

c)      Discriminant Analysis

d)     Logit Analysis

e)      Factor Analysis

f)       Cluster Analysis

g)      Multidimensional Scaling

a)     ANOVA (Analysis of variance):

Analysis of variance is used for examining the difference in the mean values of dependent variable (Identifying customer satisfaction of the customers of Asian Paints Bangladesh Ltd.) associated with the effect of controlled independent variables (such as brand image, quality, price, availability etc).

In ANOVA, the dependent variable will be metric and the independent variables are all categorical, or combinations of categorical and metric variables. One-way ANOVA involves a single independent categorical variable. Interest lies in testing the null hypothesis that the category means are equal in the population. The total variation in the dependent variable is decomposed into two components: variation related to the independent variable and variation related to error. The variation will be measured in terms of the sum of squares corrected for the mean (SS). The mean square is normally obtained by dividing the (SS) by the corresponding degrees of freedom (df). The null hypothesis of equal means will be tested by an F statistic, which is the ratio of the mean square related to the independent variable to the mean square related to error.

b)     Regression Analysis:

The purpose of this analysis is to measure the relative influence of each independent variable on the dependent variable. Actually, multiple regressions will be used to measure the influence of each of the factors that influence launching new products in paint industry (business diversification or market growth potentials).

 The regression model:

Y = b₀ + b₁X₁+ b₂X₂ + b₃X₃ + b₄X₄ + b₅X₅ + b₆X₆ + b₇X₇ + b₈X₈ +b₉X₉+b₁₀X₁₀ + e_i

   c)      Discriminant Analysis:

Discriminant analysis is useful for analyzing the data when the criterion or dependent variable is categorical and the predictor or dependent variables are interval scaled. Here our main objective is to identify which predictor variables contribute to most of the inter group differences.

 The Discriminant Model:

D = b₀ + b₁X₁+ b₂X₂ + b₃X₃ + b₄X₄ + b₅X₅ + b₆X₆ + b₇X₇ + b₈X₈ +b₉X₉+b₁₀X₁₀

d)     Logit Analysis:

Logit analysis, also called logistic regression, is an alternative to two-group discriminant analysis when the dependent variable is binary. The logistic regression estimates the probability of binary event and unlike OLS regression, the logit model constraints the probability to lie between 0 and 1.

e)     Factor Analysis:

Main objective is to data reduction and summarization. In marketing research there may be large number of variables, most of which are correlated and which must be reduced to a manageable level. However the relative significance of each of the independent variable on the dependent variable can be measured from the associated coefficient. However, if there is any multicoliniarity problem, then factor analysis will be conducted.

Factor model:

X_{i =} A_i1 F₁ + A₁₂ F₂+ …………………… + A_imF_m + V_iU_i

F_i=W_i1X₁+W_i2X₂+………………………+ W_ik X_k

               Where, 

X_i= ith standardized variable

A_ij= standardized multiple regression coefficient of variable i on common factor j

F= common factor

V_i= standardized regression coefficient of variable I on unique factor i

U_i= the unique factor for variable i

m= number of common factor

F_i = estimate the ith factor that influences on brand iamge

W_i = weight or factor score coefficient

K= number of variables

f)       Cluster Analysis:

Main objective of cluster analysis to understand buyer behavior, identify the new the product opportunities, segmenting the market and reducing the data. Mainly cluster analysis is a classes of technique used to classify the object or cases into relatively homogeneous group. However in clustering we will give our priority mainly on Variance method.

 Variance Method:  attempt to generate cluster to minimize the within cluster variance. A commonly used variance method is Ward’s Procedure.

 g)     Multidimensional Scaling:

 Mainly used for spatial representation of respondent’s perception and preference. Perceived or psychological relationship among stimuli is represented as geometrical relationship among points in a multidimensional space. However input data obtained from the respondents can be related to perception or preferences. However perception data can be direct or indirect. However in our research report we shall mainly focus on direct method perception data.

a)      Asian Paints Marketing Team

b)     Asian Paints-Wikipedia, the free encyclopedia

c)      www.asian paints.com

d)     www.wikipedia.com

e)      www.wikihow.com

f)       Naresh k.Malhutra (5^th Edition) – Marketing Research

g)      William G. Zikmund (8^th Edition) – Business Research Method

h)     Marketing Management – Philip Kotler, 11^th Edition

Appendix: A

Topic:

Customer satisfaction of the customers of Asian Paints Bangladesh Ltd.

 As a student of Faculty of Business, I am conducting a research for preparing a report under the supervision of our faculty professor Dr. A. K. Fazlul Haque Shah. I have prepared a questionnaire for you. Your answer to these questions will help us significantly in conducting the research activity accurately.

 It would be very kind of you to spare some time for us and answer the following questions. The information acquired will not be used for any business purpose, rather for education purpose only.

 Questionnaire

Part-A

Occupation:

Address:

Telephone:

E-mail:

Date of Interview:

Time Start:

Finish:

Total Length:

 Part-B

Listed below are different options about to determine factors that influence launching new product in paint industry. Please rate how strongly you agree or disagree with each of the following statements by placing a check mark.

 Qs. 01. Please rate the level of satisfaction about Asian Paints Bangladesh Ltd.

 Qs. 02. Asian paints is a popular brand.

Qs. 03. Products of Asian Paints are available when I want to buy it.

 Qs. 04. Customers are satisfied with the current level of quality of Asian Paints.

Qs. 05. Asian Paints Charges fair prices.

Qs. 06. Products of Asian Paints are long lasting.

 Qs. 07.  After sales service of Asian Paints is up to the mark.

 Qs. 08. Asian paint provides huge variety of products.

 Qs. 09. Clients are given individual attention.

 Qs. 10. Asian Paint uses environment friendly ingredient in their products.

Qs. 11. Asian paint provides customized product to its customer.

Qs. 12. Please rate the level of satisfaction about Asian Paint.

                                Satisfied              Dissatisfied

If you have any suggestion regarding Customer satisfaction of the customers of Asian Paints Bangladesh Ltd. please mention it.………………………………………………………………

Thank you for your valuable input

.……………

Signature

——-End——-

Qs. 01. Please rate the level of satisfaction about Asian Paints Bangladesh Ltd.

Qs. 02. Asian paints is a popular brand.

Qs. 03. Products of Asian Paints are available when I want to buy it.

Qs. 04. Customers are satisfied with the current level of quality of Asian Paints.

Qs. 05. Asian Paints Charges fair prices.

Qs. 06. Products of Asian Paints are long lasting.

 Qs. 07.  After sales service of Asian Paints is up to the mark.

Qs. 08. Asian paint provides huge variety of products.

 Qs. 09. Clients are given individual attention.

 Qs. 10. Asian Paint uses environment friendly ingredient in their products.

 Qs. 11. Asian paint provides customized product to its customer.

Questions for Regression Analysis

Qs. 01. Please rate the level of satisfaction about Asian Paints Bangladesh Ltd.

Qs. 02. Asian paints is a popular brand.      

Qs. 03. Products of Asian Paints are available when I want to buy it.

Qs. 04. Customers are satisfied with the current level of quality of Asian Paints.

 Qs. 05. Asian Paints Charges fair prices.

 Qs. 06. Products of Asian Paints are long lasting.

 Qs. 07.  After sales service of Asian Paints is up to the mark.

 Qs. 08. Asian paint provides huge variety of products.

 Qs. 09. Clients are given individual attention.

 Qs. 10. Asian Paint uses environment friendly ingredient in their products.

 Qs. 11. Asian paint provides customized product to its customer.

Questions for Discriminant Analysis

Qs. 01. Please rate the level of satisfaction about Asian Paints Bangladesh Ltd.

Qs. 02. Asian paints is a popular brand.              

Qs. 03. Products of Asian Paints are available when I want to buy it.

Qs. 04. Customers are satisfied with the current level of quality of Asian Paints.

 Qs. 05. Asian Paints Charges fair prices.

 Qs. 06. Products of Asian Paints are long lasting.

Qs. 07.  After sales service of Asian Paints is up to the mark.

Qs. 08. Asian paint provides huge variety of products.

 Qs. 09. Clients are given individual attention.

 Qs. 10. Asian Paint uses environment friendly ingredient in their products.

 Qs. 11. Asian paint provides customized product to its customer.

Questions for Factor Analysis

Qs. 01. Please rate the level of satisfaction about Asian Paints Bangladesh Ltd.

Qs. 02. Asian paints is a popular brand.               

Qs. 03. Products of Asian Paints are available when I want to buy it.

Qs. 04. Customers are satisfied with the current level of quality of Asian Paints.

Qs. 05. Asian Paints Charges fair prices.

 Qs. 06. Products of Asian Paints are long lasting.

 Qs. 07.  After sales service of Asian Paints is up to the mark.

Qs. 08. Asian paint provides huge variety of products

 Qs. 09. Clients are given individual attention.

 Qs. 10. Asian Paint uses environment friendly ingredient in their products.

Qs. 11. Asian paint provides customized product to its customer.

Questions for Cluster Analysis

Qs. 01. Please rate the level of satisfaction about Asian Paints Bangladesh Ltd.

Qs. 02. Asian paints is a popular brand.          

Qs. 03. Products of Asian Paints are available when I want to buy it.

Qs. 04. Customers are satisfied with the current level of quality of Asian Paints.

Qs. 05. Asian Paints Charges fair prices.

Qs. 06. Products of Asian Paints are long lasting.

Qs. 07.  After sales service of Asian Paints is up to the mark

 Qs. 08. Asian paint provides huge variety of products.

 Qs. 09. Clients are given individual attention.

 Qs. 10. Asian Paint uses environment friendly ingredient in their products.

 Qs. 11. Asian paint provides customized product to its customer.

Questions for Logit Analysis

Qs. 01. Please rate the level of satisfaction about Asian Paints Bangladesh Ltd.                            

                                Satisfied                              Dissatisfied

Qs. 02. Asian paints is a popular brand.               

Qs. 03. Products of Asian Paints are available when I want to buy it.

Qs. 04. Customers are satisfied with the current level of quality of Asian Paints.

Qs. 05. Asian Paints Charges fair prices.

 Qs. 06. Products of Asian Paints are long lasting.

 Qs. 07.  After sales service of Asian Paints is up to the mark.

 Qs. 08. Asian paint provides huge variety of products.

Qs. 09. Clients are given individual attention.

Qs. 10. Asian Paint uses environment friendly ingredient in their products.

 Qs. 11. Asian paint provides customized product to its customer.