MINOR PROJECT ON “MARKETING STRATEGIES OF PATANJALI AYURVEDA” SUBMITTED TO MEERA BAI INSTITUTE OF TECHNOLOGY GOVERNMENT OF NCT OF DELHI- 65
(AFFILIATED TO GURU GOBIND SINGH INDRAPRASTH UNIVERSITY, DELHI)
SUBMITTED IN THE PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE OF BACHELOR OF BUSINESS ADMINISTRATION (THIRD SEMESTER- 2015-2018)
GUIDED BY: -
SUBMITTED BY:-
MRS. SUNITA CHUGH
MS. RITIKA GUPTA
LECTURER
42590601715
MBIT, BBA DEPARTMENT 1 MEERA BAI INSTITUTE OF TECHNOLOGY
TABLES OF CONTENT Certificate…………………………………………………………………………………….........3 Declaration by the candidate……………………………………………………………................4 Acknowledgement………………………………………………………………………...............5 1 Introduction to the study……………………………………………………………………..6 1.1 Objective of study 1.2 Definition of terms 1.2.1 Marketing 1.2.2 Marketing strategies 1.2.3 Marketing mix 2
Executive summary…………………………………………………………………………13
3 Company profile…………………………………………………………………………….14 3.1 About Patanjali Ayurveda 3.2 Vision and mission of Patanjali Ayurveda 3.3 Marketing mix of Patanjali Ayurveda 3.4 USP of Patanjali Ayurveda 3.5 SWOT analysis 3.6 Patanjali key to success 3.7 Competition from Patanjali prompts FMCG’s to hit back 4 Literature review…………………………………………………………….........................31 4.1 Hypothesis information 4.1.1 A report on Patanjali Ayurveda by Varun Mishra. 4.2 Research methodology 4.3 Scope of study 4.4 Limitation of study 5
Data Analysis and Interpretation……………………………………………………………38
6
Findings, Conclusion and Suggestion……………………………………………………….53
7
Annexure…………………………………………………………………………………….56
8
Bibliography………………………………………………………………………………60
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CERTIFICATE
This is to certify that the research project initiated to certify that it is the innovative effort of “RITIKA GUPTA”, ROLL NO- 42590601715 and it has been accomplished under my guidance. Certified that this report on “MARKETING STRATEGIES OF PATANJALI AYURVEDA”. As a part of curriculum work of “RITIKA GUPTA” who carried out the project under my supervision for the partial fulfillment of BACHELOR OF BUSSINESS ADMINISTRATION degree under GURU GOBIND SINGH INDRAPRASTH UNIVERSITY, DELHI for the year 2015-2018.
SUPERIVISOR
MRS. SUNITA CHUGH
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DECLARATION BY THE CANDIDATE
I hereby declare that the work, which is being presented in the project, entitled “MARKETING STRATEGIES OF PATANJALI AYURVEDA” is an authentic record of my own work carried out by me under supervision and guidance of MRS. SUNITA CHUGH, project guide, MEERA BAI INSTITUTE OF TECHNOLOGY, MAHARANI BAGH, DELHI-65. This project was undertaken as a part of the curriculum of GURU GOBIND SINGH INDRAPRASTHA UNIVERSITY, DELHI, for the partial fulfillment of BBA from MEERA BAI INSTITUTE OF TECHNOLOGY, MAHARANI BAGH. I have not submitted the matter embodied here in this project for the award of any other degree/ diploma.
MS. RITIKA GUPTA
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ACKNOWLEGEMENT
It is my sensual gratification to present this report. Working on this project was an incredible experience that will have a tremendous impact on my career. I would like to express my sincere thanks to my project guide MRS. SUNITA CHUGH for a regular follow up and valuable suggestions provided throughout. She has always been an origin of spark and direction. I also thank all the respondents who have given their valuable time, views and valid information for this project.
RITIKA GUPTA
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1. INTRODUCTION TO THE STUDY
PATANJALI AYURVEDA
PATANJALI AYURVEDA LIMITED, a Company registered under the Company’s Act, 1956 having its Registered Office at D-26, Pushpanjali, Bijwasan Enclave, New Delhi – 110061 and Works: 1. Unit-I at:D-38, Industrial Area, Haridwar, Uttarakhand; 2.Unit-II at :YOGPEETH, Maharishi Dayanand Gram, Delhi Highway, Haridwar; and 3.Unit-III:Vill-Padartha, Haridwar, Uttarakhand, India.
The Company was originally formed as a Private Limited Company on 13th January, 2006 and subsequently converted into Public Limited Company on 25th June, 2007. Presently, the Board of Directors of the Company is managed by Sri Acharya BAL KRISHNAJI as its Managing Director and Swami Muktanandji and Sri Ajay Kumar Arya, are the Directors of the Company.
The Memorandum and Articles of Association of the Company, contains: To manufacture, process, refine, formulate, import, export and deal in all kinds of Ayurvedic and herbal Products, Life Savings Drugs etc. apart from so many other related objects. The concept for forming this Company was to “link the rising destiny of millions of rural masses on the one hand and many more suffering and leading unhealthy urban life style on the other”.
The View of the Respected Swami Ramdevji, the renowned YOGA GURU and Sri Acharya Balkrishnaji, made the concept into writing through formation of the Company “PATANJALI AYURVEDA LIMITED”. PATANJALI AYURVEDA Ltd is a company that functions like all other companies under the Rules and Regulations of the Company Law Affairs and several other Laws applicable for these type of Industries.
At micro level the challenge is no less tough. Along with PRANAYAM, the wisdom of our ancient sages, the organic food products and herbal medicines churned out of this unit, trying to undertake the threats to fight out the dreaded and deadly diseases like CANCER and AIDS. Claim for having found a lasting cure for many other relatively more excessive but equally
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tormenting diseases like Diabetes, Arthritis and Thyroid is already entrenched with thousands of patients cured with fulfillment.
Superior quality of our products at a fair price is not the only concern that we have. Getting our patients rid of their diseases is again too limited a goal for us to seek. A holistic approach to improve the quality of life of all beings, world over, is the purpose behind our being.
Getting eliminate the food we consume of the pollutants in the form of poisonous pesticides and chemical fertilizers that our farmers use, is a goal that we strive to accomplish by providing our people the eatables that are cultivated in organic and natural manures and pest repellents.
The bringing of Ayurvedic medicines along with Pranayama, Asnaas, pure food and natural drinks is a package perhaps the world was waiting for long, for the two saints in the form of SWAMI RAMDEVJI and ACHARYA BALKRISHNAJI,
Units of Patanjali Ayurveda Limited:
Already 12 successful units running including units for Packaging material and Containers e.g. flour mill, candy plant, herbal cosmetic and detergent plants, digestives unit, juice plant etc. Co-packing facility-Tetra Pak Multi-fruit juice processing line Neutraceutical Processing Line Sale Channels: Patanjali brand with national and international reach, more than 85,000 retail channels-accessible to Patanjali products Employment Generation:
Currently PAL employs more than 6000 laborers in its processing activities. More than 400 Sales Staff. PAL has more than 300 technically qualified employees. 7 MEERA BAI INSTITUTE OF TECHNOLOGY
PAL has provided more than 2.00 Lac indirect employment.
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1.1.
OBJECTIVE OF THE STUDY
The main objective to study this project is to know about the different strategies of Patanjali Ayurveda.
The main objectives in the mind:1. 2. 3. 4. 5.
To study, whether Patanjali Ayurveda products are genuine or not. To study, why people prefer Patanjali Ayurveda products. To study, whether customers are satisfied using Patanjali products. To study, whether the huge rise of indigenous Patanjali products good for our country. To study, whether is it good to buy Patanjali products for our Indian economy?
6.
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1.2.
1.2.1.
DEFINITION OF TERMS
MARKETING
Marketing is the subject and management of exchange relationships. The American Marketing Association has defined marketing as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."
The techniques used in marketing include choosing target markets through market analysis and market segmentation, as well as understanding methods of clout on the consumer behavior.
From a societal point of view, marketing provides the link between a society's material requirements and its economic patterns of response. This way marketing satisfies these needs and wants through the advancement of exchange processes and the building of long-term relationships.
In the case of nonprofit organization marketing, the aim is to deliver a message about the organization's services to the applicable audience. Governments often employ marketing to communicate messages with a social aspiration, such as a public health or safety message, to citizens.
1.2.2.
MARKETING STRATEGIES
A marketing strategy is a process or model to allow a company or organization to focus limited resources on the best opportunities to increase sales and thereby accomplish a sustainable competitive advantage. Two major troop of marketing strategies can be distinguished: (a) Strategies, which describe how to clout the relevant market. On the other hand there are (b) Strategies, which describe, to which extend an organization employs “power” or “force” to tackle market related issues.
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For (a) 4 different types can be differentiated: Segment strategies: Which market in terms of product/customer-combinations will be managed? Which products and /or services will be offered to which customer segment? Strategies for market stimulation: Which marketing instruments will be employed in order to develop certain preferences? Strategies for market itemization: Which fundamental market items (in terms of structures) are useful? Does the organization employ mass marketing or segment marketing techniques? Does the organization cover the entire market or “only” parts of this market? Strategies for market areas: Which areal dimensions should be used to implement a strategy? For (b) 3 types can be distinguished, too: Pull back strategy: to make a strategic withdrawal (in military terms: a fall back strategy) Assert strategy: to assert and to extend a certain position Competition strategies.
1.2.3. MARKETING MIX
Marketing involves a number of activities. To begin with, an organization may decide on its target group of customers to be served. Once the target group is decided, the product is to be placed in the market by providing the appropriate product, price, distribution and promotional efforts. These are to be combined or mixed in an appropriate proportion so as to achieve the marketing goal. Such mix of product, price, distribution and promotional efforts is known as ‘Marketing Mix’. According to Philip Kotler “Marketing Mix is the set of controllable variables that the firm can use to influence the buyer’s response”. The controllable variables in this context refer to the 4 ‘P’s [product, price, place (distribution) and promotion]. Each firm strives to build up such a composition of 4‘P’s, which can create highest level of consumer satisfaction and at the same time meet its organizational objectives. Thus, this mix is assembled keeping in mind the needs of target customers, and it varies from one organization to another depending upon its
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available resources and marketing objectives. Let us now have a brief idea about the four components of marketing mix.
Product: Product refers to the goods and services offered by the organization. A pair of shoes, a plate of dahi-vada, and a lipstick, all are products. All these are purchased because they satisfy one or more of our needs. We are paying not for the tangible product but for the benefit it will provide. So, in simple words, product can be described as a bundle of benefits which a marketer offers to the consumer for a price. While buying a pair of shoes, we are actually buying comfort for our feet, while buying a lipstick we are actually paying for beauty because lipstick is likely to make us look good. Product can also take the form of a service like an air travel, telecommunication, etc. Thus, the term product refers to goods and services offered by the organization for sale.
Price: Price is the amount charged for a product or service. It is the second most important element in the marketing mix. Fixing the price of the product is a tricky job. Many factors like demand for a product, cost involved, consumer’s ability to pay, prices charged by competitors for similar products, government restrictions etc. have to be kept in mind while fixing the price. In fact, pricing is a very crucial decision area as it has its effect on demand for the product and also on the profitability of the firm.
Place: Goods are produced to be sold to the consumers. They must be made available to the consumers at a place where they can conveniently make purchase. Woolens are manufactured on a large scale in Ludhiana and you purchase them at a store from the nearby market in your town. So, it is necessary that the product is available at shops in your town. This involves a chain of individuals and institutions like distributors, wholesalers and retailers who constitute firm’s distribution network (also called a channel of distribution). The organization has to decide whether to sell directly to the retailer or through the distributors/wholesaler etc. It can even plan to sell it directly to consumers. The choice is guided by a host of factors about which you will learn later in this chapter.
Promotion: If the product is manufactured keeping the consumer needs in mind, is rightly priced and made available at outlets convenient to them but the consumer is not made aware about its price, features, availability etc., its marketing effort may not be successful. Therefore promotion is an important ingredient of marketing mix as it refers to a process of informing, persuading and influencing a consumer to make choice of the product to be bought. Promotion is done through means of personal selling, advertising, publicity and sales promotion. It is done mainly with a 12 MEERA BAI INSTITUTE OF TECHNOLOGY
view to provide information to prospective consumers about the availability, characteristics and uses of a product. It arouses potential consumer’s interest in the product, compare it with competitors’ product and make his choice. 2. EXECUTIVE SUMMARY
The project title “MARKETING STRATEGIES OF PATANJALI AYURVEDA” provides a comprehensive analysis regarding the performance of the company and its products in the market. The project covers the aspects like Patanjali got success in such a competitive market in a very short span of time and how competition from Patanjali prompts FMCGs to hit back. The project covers the objective of the study that what is the main motive behind the study on Patanjali Ayurveda. Through the project you will get know about that how Patanjali Ayurveda become a giant FMCG within 5 yr. And how the Patanjali accomplished “MAKE IN INDIA” concept. And how Patanjali is becoming a tough competitor in the market for the MNCs and the Indian companies. Patanjali is following the biggest “SWADESHI MOVEMENT”. Patanjali’s vision and mission are discussed in the following project. And you will get to know about the marketing mix of Patanjali Ayurveda and SWOT analysis followed by Patanjali Ayurveda. And most important the unique selling proposition (USP) of Patanjali Ayurveda. Project is conclude with the conclusion and suggestions.
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3. COMPANY PROFILE
3.1.
PATANJALI AYURVEDA LTD.
Introduction: Patanjali Ayurveda Kendra Ltd was officially inaugurated by Pram Yoga Rishi Swami Ramdevji & Ayurveda Shiromani Rishikalpa Acharya Shree Balkrishnaji on 27 September 2007 (2064/6/10 B.S.) and started its operation as an Patanjali Ayurveda Kendra Ltd at swoyambhu, Katmandu, Nepal with the ultimate aim of providing holistic, natural and effective Ayurveda treatment.
Profile:
Establishing Date
27
Company
Patanjali
Promoters
Mr. Babukaji Shrestha, President
Ayurveda
Kendra
Pvt.Ltd.
Mr. Raju Shrestha, Managing Director Mr. Type of Business
Pawman
Subed
Sole Distributor of Ayurvedic Product of Divya Pharmacy , Divya Yoga Sadhana, Divya Prakashan& Patanjali Ayurveda Ltd., Haridwar, India 14
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Head Office
Patanjali Ayurveda Kendra Pvt.Ltd Swotantramargh,Swoyambhu Chakra path, Kathmandu, Nepal Tel: +977-1-4674666 / 4674777 Fax No.: +977-1-4033557 Email:
[email protected] /
[email protected] www.patanjaliayurveda.com
Number of employees Kathmandu Office
25 Nos.
Butawal Office
7
Suppliers
Divya Divya Divya Patanjali
Pharmacy Yoga Prakashan, Ayurveda
Bank Details Name
Bank of Katmandu
Address
Head Office / Thamel Branch
Swift code
BOKLNPKA
Beneficiaries Details Name Address A/C Number
Patanjali Ayurveda Kendra Pvt.Ltd Swoyambhu, Kathmandu 470000061438 / 060100061438
Govt. Register
, Sadhana,
Har Ltd.,
Company Registrar Office Tripureshower On 2063.08.15 BS. Reg. No. 42691. Tax office on 2063.08.25 BS. PAN/VAT No. 302445329. Division Of Drug Administration On 2063.10.19 BS. Reg. No. 17243. 15
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Division Of Ayurvedic Administration On 2065.01.30 BS. Reg.No. 1789 PRODUCT CATALOGUE
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TOTAL INCOME COMPOSITION OF PATANJALI PRODUCTS AND THEIR CHALLENGES
This diagram shows the income composition of patanjali Ayurveda, which shows that 21% of income is generated from health care ayurvedic products of patanjali, 40% of total income generated by patanjali is from food and beverages and around 39% of share of income is generated from cosmetics and home care products of patanjali.
Challenges • HUL and Dabur focusing back on Herbal • Late entrant to Advertising game • Noodle: a risky proposition? Scaling up and Global expansion
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RAMDEV EXPANDS EMPIRE BEYOND YOGA TO FMCG, BUSSINESS POISED TO TOUCH RS. 2,000cr THIS FISCAL YEAR.
Currently, Patanjali is present in almost all categories of personal care and food products -- soaps, shampoos, dental care, balms, skin creams, biscuits, ghee, juices, honey, Atta, mustard oil, masala, sugar and much more. Going by current turnover projections of Rs 2,000 crore, This is despite the fact that most of Patanjali's products are priced lower than its competitors. What gives the company an edge is its very low expenses on advertisements. In comparison, leading FMCG companies spend about 20-30% of their sales on advertisements. With the Patanjali brand's growing reach and popularity among consumers, it's now being discussed in corporate boardrooms as well. This is in sharp contrast to its quiet beginning in 2007. As the demand for his products grew, Baba Ramdev realized the huge scope within the FMCG sector and started building the range, taking on deep-pocketed multinationals.
3.2.
MISSION AND VISION OF PATANJALI AYURVEDA
MISSION:-
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1. 2. 3. 4. 5.
To reach the great heights To restart the swadeshi movement To produce good quality products at cheaper rates To introduce Indian Ayurveda to this modern world To crack the maximum market share.
VISION:-
1. 2. 3. 4. 5.
To be a top Ayurveda company among all MNC’s To Re-introduce the Indian Ayurveda To crack the world’s attraction to our India To work for the welfare of Humanity To reinvent our traditional knowledge of Yoga and Ayurveda
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3.3.
MARKETING MIX OF PATANJALI AYURVEDA
Founded in 2006 by Acharya BAL Krishna and Baba Ramdev, Patanjali Ayurveda is an Indian FMCG Company. Patanjali Ayurveda happens to be the fastest growing FMCG Company in India. Patanjali Ayurveda imports herbs from Himalayas Nepal. Patanjali is manufacturing its products in Nepal, working under the brand name of Nepal Gramudhyog. Patanjali Ayurveda is the India’s fastest growing FMCG Company is valued at 3000 Crore and generated a revenue of 5000 Crore for the fiscal year of 2015-16. Hindustan Uniliver and P&G are the FMCG companies, whose market share has been potentially affected by Patanjali. P&G and Hindustan Uniliver are on back foot and trying to pull customers back by providing huge discounts and remarkable offers.
PRODUCT
All Existing Products + Herbal Products to treat Cough & Cold
PLACE
Franchisee Stores, Super/Hyper markets & Online Marketplace (like souq.com, desertcart.ae)
PRICE Value Based Pricing Alignment of Cost, Customer & Competitors
PROMOTION
Yoga Shivir to create awareness, YouTube Channel, Social Media to target GULF (MENA)
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PRODUCTS IN THE MARKETING MIX OF PATANJALI AYURVEDA Baba Ramdev is steadily pushing Indian people to start using Indian brands and save the economic growth of the company. Patanjali is planning to take over all reputed brands dealing in beverages and foods. The service (yoga) that Baba Ramdev is selling is the product. The product "Pranayama" is well suited for all irrespective of class, creed, culture and hence this success. Swamiji's unique contribution has been to lead a healthy life through the practice of simple breathing exercises. Understand and meet consumers' needs and wants. The ambiance of patanjali yogpeeth is world class. Swami Ramdev's Divya Medicines are claimed to be one hundred percent natural, no or very little side effects. Medicines are available at a very low cost. Medicines can cure all the diseases from a simple cold to cancer. Products where Patanjali is present and beating competition are:Dabur Honey: Patanjali Ayurveda is providing people with option to buy quality honey at around 30% lesser price than Dabur. Colgate: Patanjali Ayurveda is preaching how Colgate cheated people in early days. And how Ayurveda is the best way to treat your gums and your teeth. Patanjali Noodles: Patanjali Noodles rose to fame while Maggi was away from the market and has done quite damage to Maggi, which once was the king of Noodle’s market.
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PRICING IN THE MARKETING MIX OF PATANJALI AYURVEDA
Developing an effective pricing strategy remains the most important and difficult part of the marketing process. For instance, a nominal 1 per cent increase in price realization will boost net income by 6.40 per cent for Coca-Cola and 28.70 per cent for Philips. Baba Ramdev's fees of Pranayama is cheap in compare to other medical treatment. This is the cheapest and the only complete cure to most of the so called incurable diseases like diabetes, cancer, HIV & AIDS too.
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PLACE IN THE MARKETING MIX OF PATANJALI AYURVEDA
Patanjali Ayurveda is India’s fastest growing FMCG Company but it is not stopping it from spreading its wing to neighboring countries like Nepal. Patanjali has a manufacturing unit in Nepal. Patanjali also imports herbs from Himalayas in Nepal; the well-entrenched trade relation is helping Patanjali expand its wings in Nepal with great ease. With the growing outreach in India and Nepal, Baba Ramdev surely will be aiming to overtake market in lot of other countries. With impressive revenue of 5000 Crores. In India, 1000’s of stores are now selling Patanjali products, and these stores are exclusively selling Patanjali, making the local retailer quake. The penetration levels will only rise further as the margins in the product are good too.
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PROMOTION IN THE MARKETING MIX OF PATANJALI AYURVEDA
Patanjali Ayurveda goes with the Slogan “Prakriti ka Ashirwad”. Well, Patanjali Ayurveda has acquired the requisite fame and popularity among people because of the globally recognized Yoga Guru, Baba Ramdev. This brand ambassador of Patanjali is single handedly responsible for the success of the brand. His contribution to people’s life through Yoga is incredible hence people felt aligned towards him when he launched his very own Indian FMCG Company. It is a well-entrenched fact that advertising affects consumers. Baba Ramdev has hit both the opinions as he is advertising and at the same time not advertising. In the year 2002 when Aastha television channel started airing Baba Ramdev's yogic classes; overnight, Baba Ramdev became a sensation he had hundreds of followers who morphed into thousands. Millions around the country follow his programed religiously and use Ayurvedic medicines prescribed by him.
His yoga sessions were beamed live into 170 countries. Baba Ramdev's pack one DVD, two Video CDs written three books on Yoga, Pranayama Herbal Remedies and Magazines are available. He has mastered the art of mass customization and practices so that each individual feels that he is talking to him individually.
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3.4.
UNIQUE SELLING PROPOSITION (USP)
Constructing a "Disease Free Society - Medicines Free World", embraced dream of BABA RAMDEV.
It is declared that after comprehensive research of the antique outcome of Pranayama Yoga during last numerous years, it has been demonstrated now that proper Breathing Technique's practice can antidote all diseases completely without medicines or surgery.
He claims to have trained 35,000 persons that are well equipped to hold yoga classes in different regions of the country.
Patanjali Yoga Ashram has set up 535 branches and 15 more centers are in the process of being entrenched.
This is engaged towards creating a new USP wherein any requirement of the customers can be fulfilled to without setback.
This is the unique selling proposition of Patanjali Ayurveda.
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3.5.
SWOT ANALYSIS
S-STRENGTH 1. 2. 3. 4. 5.
Brand Name Strong TQM Excellent Marketing Strategy Innovative Personality Cheap price cum Charming Products
W- WEAKNESS
1. No standard advertising 2. Lower Concentration on Other top countries 3. Lower Marketing strategies
O-OPPORTUNITIES 1. Possibility of Becoming World’s Top MNC 2. Expansion 3. Maximum Marketing Share
T-THREATS
1. Govt. Regulations 2. Maximum Taxes 3. Lack of Support from Foreign Government.
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3.6.
PATANJALI KEY TO SUCCESS
1. Less Price: Patanjali products are available at an attractive discount as compared to their competition. The company sources products directly from farmers and cuts on middlemen to boost profits. Hence, they are able to reduce their raw material procurement cost and are able to produce goods at a much cheaper price. 2. Strong Distribution Channels: Patanjali products are sold through three types of medical centers. These include Patanjali Chikitsalayas which are basically clinics. Then there are Patanjali Arogya Kendra’s which are health and wellness centers. They also have non-medicine channels called Swadeshi Kendra’s. 3. Strong Brand Association with Health Because Of Baba Ramdev: Patanjali is able to create a brand perception of health and wellness among the Indian masses, primarily because of Baba Ramdev’s association. Hence, more people are getting attracted to Patanjali’s products and are re-buying products more frequently. 4. Simple Packaging Gives It A Natural Look: Patanjali sells its products with a very simple packaging. Now, many would feel that it is not a good strategy but the truth is it is working for Patanjali. With a product like Patanjali, where the message is to promote ‘Ayurveda’ and ‘Health’, simple packaging can be a very effective way of promotion. With a natural look (especially with leaves and herbs), consumers get a feeling of health and wellness and they are attracted to buy the product. 5. Promotion through Media: Baba Ramdev is considered to be a guru of yoga across the globe. He has been very cooperative with press and media and has maintained good relationships with them. Also, he is known to have good connections with many politicians. So he used both the facts to publicize his company free of cost. 6. Word-Of-Mouth Promotion: Advertising and promotions typically account for 12-20% of revenue expenditure by consumer goods companies. When a new company gets into the business, this spending is significantly higher. During the introduction stage, Patanjali followed a unique word of mouth publicity model and the entire revenue was without any advertising. It was because of the brand loyalty of its customers that the word-of-mouth promotion proved so successful for the company. 27 MEERA BAI INSTITUTE OF TECHNOLOGY
3.7.
COMPETITION FROM PATANJALI PROMPTS FMCG TO HIT BACK
Watching Ramdev's moves are rival consumer goods companies. The Rs 2,000-crore Patanjali, looking to grow its turnover two-and-a-half times in FY16, is striking at the heart of their business, making its presence felt across categories. The stiff competition has prompted most of the fast-moving consumer goods (FMCG) companies to hit back. Consider what the country's biggest FMCG Company Hindustan Unilever (HUL) is doing: It has 'resurrected' its herbal brand Ayush, launching it online. A bunch of new products across hair care, skin care and pain balms have been launched on e-commerce platforms under Lever Ayush Therapy. The plan is to take the brand to general trade in the future. The firm is also expected to increase its 'natural' offerings, moving into newer categories such as health foods, oral care, lip care etc. HUL's managing director and chief executive Sanjiv Mehta says, "What we find is that consumers' interest in natural/ayuvedic products is growing. It is one of the emerging trends now. As a consumer goods company, we have to respond to this, which is why Ayush, which existed in our portfolio, has now staged a comeback. We also acquired Indulekha to grow our presence in the value-added hair oil segment. We will continue to make investments in this area." Companies that have been directly affected by Patanjali such as Dabur, Emami and Himalaya all three operate in the herbal/naturals space - say they will buttress their portfolios, making their products relevant to consumers. Harsh Agarwal, director of Emami, says he is open to acquisitions to strengthen his firm's position in the herbal space. "Ayurveda has been around for a long time. I don't see this as a new trend. But, the emergence of new players is happening right now. We welcome them and will continue to fortify our range with new variants, launches and acquisitions." Emami had acquired hair oil brand Kesh King last year and was also in the race to acquire Indulekha before opting out. Agarwal says he is looking at new targets, some of them located in the south. Industry source say herbal and non-herbal companies are now going back to the drawing board, looking at how they can incorporate natural ingredients when developing new products. Godrej Consumer, for instance, has launched a neem-based mosquito coil; a crème hair color that has coconut oil; and launched new variants under Godrej No 1, its natural’s platform in soaps. Sunil Kataria, business head (India and Saarc region) at Godrej Consumer, says, "Our endeavor 28 MEERA BAI INSTITUTE OF TECHNOLOGY
will be to fortify these products as we come up with new innovations in other categories." Colgate, whose volume growth has taken a hit on account of Patanjali's Dent Kanti toothpaste, according to brokerage firm Credit Suisse, is aggressively advertising its active salt neem toothpaste, launched a few months ago. This toothpaste, a variant of Colgate's Active Salt toothpaste, was made in India to address the herbal coup, according to industry sources. Colgate is expected to come up with more such offerings as Patanjali's threatens to eat into its business. Dabur, on the other hand, is introducing new Ayurvedic products targeting men, women, and children. Existing products such as Dabur Honey and Chawanprash are being pushed aggressively in the marketplace as Patanjali positions itself as a price warrior in these categories. Himalaya - another herbal products company - recently launched its range of wellness products which aim to provide therapeutic solutions to consumers. Products ranging from anti-hair fall creams to pills for staying slim are part of this new initiative.
PREPARING TO PUT UP A FIGHT HUL Company "resurrects" herbal brand, Ayush, launching it online. Plans to increase "natural" offerings Emami Firm open to acquisitions for strengthening the company's position in the herbal space Godrej Consumer Launches neem mosquito coil, a crème hair color that has coconut oil, new variants in naturals soaps Colgate Firm aggressively advertising its active salt neem toothpaste, as its volume was hit after Patanjali's Dent Kanti
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Dabur Firm launching ayurvedic products. Pushing Dabur Honey and Chyawanprash aggressively Himalaya recently launched its range of wellness products which aim to provide therapeutic solutions to consumer.
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4. LITERATURE REVIEW
4.1. HYPOTHESIS INFORMATION
4.1.1. A REPORT ON PATANJALI AYURVEDA
By Varun Mishra Posted May 26, 2016 in Branding, Business, FrontPage, Health, Lifestyle, Marketing 3 0 Introduction
Patanjali started its operations with Patanjali Yogpeeth in Hardiwar, Uttarakhand. Patanjali yogpeeth is one of the biggest yoga institutes in the country. Swami Ramdevji and Acharya Balkrishanaji set up Patanjali Ayurveda Ltd for treatment, research and development and for the manufacturing of ayurvedic medicines in Yoga and Ayurveda.
Patanjali Yogpeeth offers treatment and scientific research and has brought a coup when it comes healthcare in the country with the combined approach of Yoga and Ayurveda.
The infrastructural facilities at Patanjali Yogpeeth includes an OPD for free medical consultation, IPD of thousand beds, laboratory for test investigation of radiology, cardiology and pathology, a yoga research division, free yoga classes, high quality ayurvedic medicines manufactured by Divya pharmacy, facilities of library and reading room along with a cyber café, a huge auditorium, apartments for senior citizens, a grand museum and a sale channel of 11,000 square feet for literature related to yoga and Ayurveda.
Patanjali Ayurveda- Entry into FMCG
Patanjali started off manufacturing bulk ayurvedic medicines later branching its operations into FMCG markets as well. Since, the FMCG market has low entry barriers, Patanjali soon entrenched itself as a major consumer goods’ manufacturer. The recent trends clearly imply that 31 MEERA BAI INSTITUTE OF TECHNOLOGY
the company’s preference are shifting from medicines to consumer goods, perhaps because the net revenues earned through FMCG are on par with ayurvedic medicines.
Patanjali Ayurveda – Current Market Insights
Patanjali as a brand currently has more than 350 products from Soap to Toothpaste and from Oats to Health drinks. The 2014-2015 revenue of Patanjali Ayurveda crosses Rs. 2000 crore figures. In January 2016, IIFL said “Patanjali Ayurveda Ltd has, in a short span of less than a decagon, recorded a turnover higher than what several companies have managed to accomplish over several decagons.
Patanjali Sales (2012-2015)
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Proactive moves in Innovation
Patanjali Ayurveda is aggressively planning to enter into every consumer category. Currently Patanjali Ghee is expected to be at INR 12 billion in the financial year 2016 and if it gains solid distribution expertise, it could pose a serious threat to its competitors. An innovative R&D facility equipped with latest technology, Patanjali has also launched a mobile app which helps the consumer to locate retail channels and for online ordering of Patanjali products Patanjali’s Supply Chain Management
The three phases of patanjali’s supply chain are product flow, information flow and cash flow. Patanjali has recently completed a tie up with Future group to sell the products. They also sell their products through their own channels opened in almost every district/city of India. Each channel has to send their demand to central office at Hardiwar. Then as per the demand, various products are gathered from various units of Patanjali. The items are delivered to channels majorly through Patanjali transport.
Sales and Distribution – Patanjali
Patanjali provides sale of products online and can also be get hold of through post by sending the money through demand draft Patanjali herbal products are available at Post Offices across the country Patanjali also has “Patanjali Chikatsalayas” and “Patanjali Arogya Kendra” in almost all the cities of the country To strengthen the distribution Patanjali is also implementing ERP which will help them in managing the inventory.
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4.2. RESEARCH METHODOLOGY
Attaining accuracy in any research requires in depth study regarding the subject. As the prime motive of the project if the project is to know the marketing strategies of Patanjali Ayurveda and how it is affecting Indian economy.
RESEARCH DESIGN TYPE OF RESEARCH:-Descriptive research Descriptive research includes Surveys and fact-finding enquiries of different kinds. The main characteristic of this method is that the researcher has no control over the variables; he can only report what has happened or what is happening. DATA SOURCES There are two types of data. Source of primary data for the present study is collected through questionnaire and answered by consumers of Patanjali Ayurveda. The secondary data is collected from journals, books and through Internet search. PRIMARY DATA The data that is collected first hand by someone specifically for the purpose of facilitating the study is known as primary data. So in this research the data is collected from respondents through questionnaire. SECONDARY DATA For the company information I had used secondary data like brochures, web site of the company etc. The Method used by me is Survey Method as the research done is Descriptive Research.
RESEARCH INSTRUMENTS Selected instrument for Data Collection for survey is Questionnaire. SAMPLE UNIT 100 respondents of different age groups, different profession and of different gender. 34 MEERA BAI INSTITUTE OF TECHNOLOGY
SAMPLING DESIGN Convenience sampling. SAMPLING TOOLS Pie charts, averages graphs, ratio analysis graphs.
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4.3. SCOPE OF THE STUDY
To conduct this research the target population was children, middle age men’s and women’s. Targeted geographic area of Delhi/NCR, sample size of 100 people were taken. 100 people were given the questionnaire, and the questionnaire was the combination of both open ended and closed ended. Some dealer were also interviewed to know there prospective Finally the collected data was analyzed and complied to arrive the conclusion and suggestion.
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4.4. LIMITATION OF THE STUDY
Every attempt will be taken to obtain error free and meaning full result but as nothing in this world is 100% perfect.
I believe that there will be still the chance for error on account of following limitations:-
Limited numbers of respondents
Time limitation for compelling the project.
The data obtained in some cases may be biased.
Difficulty in communicating within the city while conducting the survey.
The information obtained from the consumers based on questionnaire was assumed to be factual.
Since the survey is based on sampling method, it does not disclose the character of entire customer.
Product unavailability for the consumers in the market is one of the biggest limitation for Patanjali Ayurveda.
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5. DATA ANALYSIS AND INTERPRETATION
AGE:-
PATANJALI AYURVEDA
20%
10 TO 18
10%
19 TO 25 26 TO 50
30%
50 TO 75
40%
GENDER:-
PATANJALI AYURVED
FEMALE
35%
MALE
65%
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Q1. DO YOU USE PATANJALI AYURVEDA PRODUCTS?
PATANJALI AYURVED NO; 20%
YES; 80%
Maximum people in a particular surveyed area use patanjali product as they are cheaper to buy when compared to some other product manufactured by the MNC companies. So, about 80% of people use patanjali product in a middle class family. And patanjali has that trust factor of naturally made product without any preservatives or harmful chemicals.
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Q2. WHICH CATEGORY PRODUCT OF PATANJALI AYURVEDA YOU USE?
PATANJALI AYURVED
25 45 MEDICINE FOOD PRODUCT SUPER FOOD 45
AYURVEDIC BODYCARE AYURVEDIC PUBLICATION
55 30
Survey was conducted for random 100 people of that particular area. 25 people out of 100 people use medicine products of patanjali and 45 people use food products manufactured by patanjali Ayurveda. 30 people out of 100 opted that they use super food products manufactured by patanjali Ayurveda. 55 people use ayurvedic products naturally manufactured by patanjali Ayurveda. 45 people use ayurvedic publication products.
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Q3. HOW FREQUENTLY YOU USE THE PATANJALI AYURVEDA PRODUCTS?
PATANJALI AYURVED 70
60
50
40
30
20
10
0
WEEKLY
MONTHLY
YEARLY
PATANJALI AYURVED
60% of people use patanjali product weekly And 40% of people use patanjali product monthly. As it depends upon the use of the product and which type of product it is.
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Q4. WOULD YOU LIKE TO RECOMMEND PATANJALI AYURVEDA PRODUCTS TO OTHER?
Series 1 80
75
70 60 50 35
40
25
30 20
2.5
10 0
DEFINITELY
DEFINITELY NOT
PROBABLY
PROBABLY NOT
Series 1
What I concluded is maximum no. of people are satisfied using patanjali product so, 75 people would definitely recommend the patanjali product to other while 10 people where little dissatisfied of using patanjali product. 35 people ticked that they will probably recommend the product to others. And 25 will probably not recommend the product to other as it is their own personal views regarding the usage of the product. And due to some of the limitation of the study we could not find the correct results regarding the study.
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Q5. WHY DO YOU CHOOSE PATANJALI AYURVEDA PRODUCTS?
Series 1
35
cheaper price
45
no negative effects
50
good quality cum maximum quantity
65
natural in nature
0
10
20
30
40
50
60
70
Series 1
As patanjali target middle class people and as well as lower class people and of middle age group and children. So most of the people purchase the patanjali products as it is cheaper and in the budget for middle class people. Health conscious people purchase patanjali product as it is natural in nature and have no negative effects. So, about 35 people out of 100 random people purchase patanjali because of its affordability at cheaper price. 45 people purchase patanjali product because it has no negative effects. 50 people prefer patanjali product because of its good quality at maximum quantity.
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About 65 people purchase patanjali because it is natural in nature, according to this study.
Q6. FROM WHERE DO YOU BUY IT?
PATANJALI AYURVED WHOLESALER; 5; 5% RETAILER; 20; 20% PATANJALI STORES; 45; 45%
ONLINE SHOPPING; 30; 30%
WHOLESALER
RETAILER
ONLINE SHOPPING
PATANJALI STORES
45% of people prefer to purchase the patanjali products from the patanjali stores itself. 5% purchase from wholesaler. 20% from retailer. 30% of people order online patanjali products.
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Q7. HAVE YOU SEEN ANY TANGIBLE HEALTH BENEFITS OF USING PATANJALI AYURVEDA PRODUCTS?
PATANJALI AYURVED
35
65
YES
NO
Customers using patanjali products really felt a health benefit of using patanjali Ayurveda as patanjali products are naturally made. 35% of people dint felt any hard and fast benefits of using a patanjali product. But 65% felt betterment after using patanjali product.
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Q8. DO YOU FIND THEM AFFORDABLE?
PATANJALI AYURVED DEFINITELY DEFINITELY NOT PROBABLY NOT
PROBABLY
Maximum no. of people find them probably affordable. 45 people out of 100 people find them affordable, while 25 people out of 100 people definitely find them affordable and at maximum quantity with good quality and at cheaper rates. 2 people don’t find them affordable, whereas 35 people out of 100 people random surveyed ticked probably not.
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Q9. WOULD YOU LIKE TO SWITCH THE BRAND IN NEAR FUTURE?
PATANJALI AYURVED
YES
NO
Maximum no. of people are satisfied using patanjali product and they are not going to switch the brand in near future. 85 people out of 100 will not going to switch the brand in near future, while 15 people out of 100 people are going to switch the brand in near future due certain limitation of patanjali Ayurveda on which patanjali had to work a lot.
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Q10. WHICH BRAND WOULD YOU LIKE TO SWITCH IN NEAR FUTURE?
PATANJALI AYURVED 35 30 25 20 15 10 5 0
30
25 10
25 10
PATANJALI AYURVED
The next best competitor of patanjali Ayurveda is dabur India ltd., about 30 people want to switch to dabur after patanjali, where 10 people will go with shri baidyanath. And 25-25 people will go for zandu pharmaceutical works and Himalaya Drug Company after patanjali And 10 people out of 100 will go for the emani group.
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Q11. ARE PATANJALI AYURVEDA PRODUCTS GENUINE?
Sales
25
75
YES
NO
25 people out of 100 people said no that the patanjali products are not genuine, Whereas 75 people said that the patanjali products are genuine and natural. As patanjali products are naturally made without any preservatives and without any chemical substances. That’s why maximum no. of population consider patanjali products genuine.
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Q12. IS THE HUGE RISE OF INDIGEIOUS PATANJALI PRODUCTS GOOD FOR OUR COUNTRY?
PATANJALI AYURVED 120
100
80
60
40
20
0 YES
NO PATANJALI AYURVED
As patanjali products are manufactured in India. With each increase in sale of patanjali product our imports will decrease which will definitely effect our economic wealth. And one of the most important thing this that they serve their customer a healthy product which will definitely affect the health conditions of our country and our country will grow. Patanjali follows the path of “MAKE IN INDIA”. About 99 people out of 100 people believe that rise of Patanjali Ayurveda is good for our country. A reduction in imports will help improve the value of rupee against foreign currencies, and make it a stronger currency. This can also help in paying less for other major imports which may well increase: oil and coal. 50 MEERA BAI INSTITUTE OF TECHNOLOGY
Q13. IS IT GOOD TO BUY A PATANJALI AYURVEDA PRODUCTS FOR OUR INDIAN ECONOMY?
PATANJALI AYURVED
NO
YSE
0
10
20
30
40
50
60
70
80
90
100
PATANJALI AYURVED
Most of the people said yes it is good to buy a patanjali product for our Indian economy as our exports will decrease and our economic stability will be there in our economy. 90 people out of 100 said yes. While 10 people out of 100 said no because they think that it is causing damage to our natural environment, excessive use of natural environment can cause danger. Employment will increase. (Also poverty elevation) Less dependent on products from outside. (Less imports due to increased production)
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Q14. OVERALL, HOW MUCH SATISFIED YOU ARE WITH USING PATANJALI AYURVEDA PRODUCTS?
PATANJALI AYURVED 70 60 50 40 30 20 10 0
SATISFIED
UNSATISFIED
SOMEWHAT SATISFIED
PATANJALI AYURVED
Maximum no. of people are satisfied using patanjali product. 65 people are completely satisfied of using product. 10 people out of 100 are unsatisfied of using patanjali product. And 30 people out of 100 people are somewhat satisfied. Renewable sources cannot push this much production. So, only tradition energy sources will require. Which will pollute air and water.
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6. FINDINGS
Quality as the most influencing factors in the purchase decision while price is also an important for purchase decision.
Schemes always attract more and more consumers towards particular brand. Simultaneously it gives idea about the factors which consumers look most in the product before they make final decision
Price off and extra quantity is the two main offers/schemes which consumers have come across at the time of purchase
People are ready to buy products of brand which suits their budget means more quantity + less cost + quality.
Extra quantity with less or same price, more satisfaction, quality and other factors clout consumers to switch over to other brands.
People are more quality and price oriented.
Consumer remember that name of the product by the company name and also from the past performance of that company
Demand is too much for Patanjali’s products in market, because of that shortage problem occurs in market regularly.
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CONCLUSION
Patanjali Ayurveda has given a trouble to many marketers with its individualistic ways of marketing. Patanjali Ayurveda had rattled the whole FMCG’s sector and bought a mutiny in the industry in a very spell era. A point to note is that many people are buying due to its hedonic value attached to the products. Hence, patanjali is attracting brand trustworthy customers and not price sensitive customers. Will patanjali continue to grow at the same pace? Or will it prove to be a water bubble, with this being a temporary phase for patanjali and strong players eventually coming up with strategies to recapture the loss market share? Only time will tell.
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SUGGESTIONS
Most of the patanjali consumers are facing problem like; products are not available in the market regularly, So they are suggested to increase their stock and make sure that the products are available in the market regularly. So patanjali Ayurveda should increase their productivity and make sure that there will be no shortage of products in the market. Renewable sources cannot push this much production. So, only tradition energy sources will require. Which will pollute air and water. So make sure that increase in production may not harm the environment.
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QUESTIONNAIRE A STUDY ON
“MARKETING STRATEGIES OF PATANJALI AYURVEDA” (Please spend some time to fill this questionnaire)
NAME: GENDER: AGE: OCCUPATION:
1. DO YOU USE PATANJALI AYURVEDA PRODUCTS? Yes
No
2. WHICH CATEGORY PRODUCTS OF PATANJALI AYURVEDA YOU USE? MEDICINE FOOD PRODUCT SUPER FOODS AYURVEDIC BODY CARE AYURVEDIC PUBLICATION
3. HOW FREQUENTLY YOU USE THE PATANJALI AYURVEDA PRODUCTS? Weekly Monthly Yearly 57 MEERA BAI INSTITUTE OF TECHNOLOGY
4. WOULD YOU LIKE TO RECOMMEND PATANJALI AYURVEDA PRODUCTS TO OTHER? Definitely Definitely not Probably Probably not
5. WHY DO YOU CHOOSE PATANJALI AYURVEDA PRODUCTS? Natural in Nature Good Quality cum Maximum Quantity No Negative Effects Cheaper Prices
6. FROM WHERE DO YOU BUY IT? Online order
Retailer
Patanjali stores
Wholesaler
7. HAVE YOU SEEN ANY TANGIBLE HEALTH BENEFITS OF USING PATANJALI AYURVEDA PRODUCTS? Yes
No
8. DO YOU FIND THEM AFFORDABLE?
Definitely 58 MEERA BAI INSTITUTE OF TECHNOLOGY
Definitely not Probably Probably not
9. WOULD YOU LIKE TO SWITCH BRAND IN NEAR FUTURE? Yes
No
10. WHICH BRAND WOULD YOU LIKE TO SWITCH? Dabur India ltd. Shri baidyanath Zandu pharmaceutical works The Himalaya drug company The emami group
11. ARE PATANJALI AYURVEDA PRODUCTS GENUINE? Yes
No
12. IS THE HUGE RISE OF INDIGEIOUS PATANJALI AYURVEDA PRODUCTS GOOD FOR OUR COUNTRY? Yes
No
13. IS IT GOOD TO BUY A PATANJALI AYURVEDA PRODUCTS FOR OUR INDIAN ECONOMY? Yes
No
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14. OVERALL, HOW MUCH SATISFIED YOU ARE WITH PATANJALI AYURVEDA PRODUCTS? Satisfied Unsatisfied Somewhat satisfied
(THANKS FOR GIVING YOUR PRECIOUS TIME TO FILL THE QUESTIONNAIRE) RESEARCH CONDUCTED BY RITIKA GUPTA
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BIBLIOGRAPHY
http://www.patanjaliayurved.org/about.html http://en.m.wikipedia.org/wiki/marketing http://www.easy-marketing-strategies.com/definition-marketing-strategy.html http://www.stellarix.com/fusce/a-report-on-patanjali-ayurveda/ http://patanjaliayurveda.com/en/company-profile/ http://timesofindia.indiatimes.com/business/india-business/Ramdev-expands-empirebeyond-yoga-to-FMCG-business-poised-to-touch-Rs-2000cr-thisfiscal/articleshow/45861809.cms http://www.marketing91.com/marketing-mix-patanjali/ http://www.youthkiawaaz.com/2016/07/patanjali-ayurveda-why-business-is-booming/ http://www.business-standard.com/article/companies/competition-from-patanjaliprompts-fmcgs-to-hit-back-116011800008_1.html http://download.nos.org/srsec319new/319EL20.pdf
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