This research paper discusses the current situation analysis of Patanjali Ayurved, key issues, decision criteria, assumptions, and data analysis. It also provides insights into customer perceptions and recommendations for improving the quality of products.
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Running head: MARKETING MANAGEMENT Research on Patanjali Ayurvedic
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MARKETING MANAGEMENT4 Executive Summary The role of marketing and management is huge to maintain the sustainability of the business for a long term. Patanjali Ayurved provides FMCG Products and with the Patanjali Brand’s growing reach and popularity among customers, it is being discussed in the corporate boardrooms as well. The report has described the current situation analysis of the company in-depth manner in which the strength, weakness, opportunity, and threats are included. Key issues of the company and the decisions criteria of the consumer insights have provided huge information regarding entire concept of the research. Data analysis is the major part of this assignment as it covered the questionnaire. The interpretation of the data has been elaborated in a significant manner in which each graph has been described.
MARKETING MANAGEMENT4 Table of Contents Executive Summary.....................................................................................................................................2 Introduction.................................................................................................................................................4 Key Issues/goals/problems..........................................................................................................................5 Decisions Criteria........................................................................................................................................5 Assumptions................................................................................................................................................6 Data Analysis..............................................................................................................................................6 Preferred Alternative with Rationale.........................................................................................................12 Conclusion.................................................................................................................................................12 Recommendations.....................................................................................................................................13 References.................................................................................................................................................15 Appendix...................................................................................................................................................17
MARKETING MANAGEMENT4 Introduction Marketing and management are two major concepts that increase the efficiency of the business significantly. Patanjali Ayurved Brand has been taken in this research paper as it is the Indian Consumer company that provides a number of products such as beauty products, Ayurvedic medicines, food products, natural personal care and herbal home care. The revenue of the company is INR 10,561 crore at the end of March 2017. The latest Ayurved A high stress on various quality circles and special project teams are working on Total Quality Management projects for the purpose of making good quality a way of life in Patanjali Ayurved Limited (Patanjali, 2018). This kind of activities helps Patanjali Ayurved Limited to develop herbomineral arrangements with consistent levels of the batch to batch uniformity. It makes sure that the customer of Patanjali will get high-quality products regardless of where it is bought. The strength of the company is strong growth in a short span of time in which it has been found that the company has registered revenues of INR 5000 crores in 2015-16 that facilitates to attain a foothold in the established FMCG business (Patanjali, 2018). Along with that the strong brand ambassador, broad range of products, strong distribution network and extensively present on e- commerce platforms. The major weakness of this company is that the revenues are reliable on few main products which are not sustainable in the long term. The company has huge opportunity to expand its business in rural products. The major threat is a poor farming season as the products of Patanjali are dependent on natural ingredients.
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MARKETING MANAGEMENT4 Key Issues/goals/problems The company has reached at the higher level of growth in a short span of time that increases the good image of the company in the view of outsiders and increases the trust of potential customers over the products of the company. According toDubey, (2017),there are some major issues of Patanjali Ayurved that can be the cause of degradation of the system. It has been analyzed that some products of the company are failed in the quality tests. The district food safety department has found issues in the products of the company that is a matter of concern. In April, 2017, the product of Aata noodles was found to be sub-standard since they included three times more ash than the acceptable limit. Along with this, the desi ghee of Patanjali was found to include artificial color. It is vital for the company to maintain the image of it in the long term by providing a number of quality products to the customers. As per The Indian Express, a case has been filed in the year of 2012 that Patanjali had failed in quality tests in the sample of mustard oil, pineapple jam, honey and salt (Shukla and Sanghvi, 2017). Decisions Criteria The decisions criteria are an important part to make the decisions and they will be taken in use to evaluate the suitability of the organization in making the decisions. The decisions regarding key issues of Patanjali have been taken by evaluating the key success factor of FMCG Industry (Evanschitzky, Eisend, Calantone and Jiang, 2012). The key success factors of FMCG products in India understand the strategic position of the brand, ensure incentive is appealing, Ensure compliance of promotional activity at outlet level and high market potential (Mothilal, Gunasekaran, Nachiappan and Jayaram, 2012). It has been evaluated that the Patanjali Ayurved is failed to understand the entire concept of the key success factor of FMCG products in India.
MARKETING MANAGEMENT4 It has been found that the company is failed in the quality test of a number of products. It has been done due to low morale of employee as they are not attentive at the time of producing the products. There are some typical decisions criteria such as ease of implementation, cost, employee morale, risk levels, cost savings, return on investment and increase customer satisfaction. The company needs to focus on the ease of implementation of employee morale so those employees implement the effective product with quality. Customers want quality based products and due to lack of it, they can switch from one place to another place for having quality products. It has been found that Patanjali is not followed the key success factors of FMCG Industry of India that being the major concern of quality products (Rao and Alexander, 2016.). However, the company has taken various decisions such as increasing quality in the products that maintain the image of the company as before in the market of India. The company does work as per the slogan of it“Prakriti Ka Ashirwad”(Jaggi and Ghosh, 2017). Assumptions The assumptions regarding the questionnaire have been mentioned below: The participants will answer the interview questions in a significant manner. The criteria for inclusion of the sample are appropriate and so make sure that the participants have all experienced the same phenomenon of the study. Participants have interest in contributing to the research and they do not have any other motive. They will give the correct answer in an appropriate manner of all questions by which the researcher would be able to interpret in an efficient way. Data Analysis Survey through questionnaire
MARKETING MANAGEMENT4 For this research, Survey through questionnaire is conducted on 50 consumers to get their insight regarding Patanjali Ayurved brand. This survey is beneficial to arrive at the valid conclusion. Demographic-based question Please mention your gender Male Female Please tick on your Age Below 30 30-35 36-41 Above 41 What is your income? Below 3 lacs 3-5 lacs 5-10 lacs Above 10 lacs Please mention your occupation? Student Businessman Professional Homemaker Salaried Others
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MARKETING MANAGEMENT4 Question related to consumer insight regarding Patanjali Ayurved brand How frequently do you purchase Patanjali Ayurved brand Seldom Often Always Please demonstrate how much do you agree or disagree with respect to reason for purchasing the Patanjali Ayurved brand, where 1= Strongly agree 2= Agree 3= Neutral 4= Disagree 5= Strongly disagree Reason for purchasing the Patanjali Ayurved brand Good quality AdvertisementsBrand image of Baba Ramdev AvailabilityHealth benefits 1= Strongly agree 2= Agree 3= Neutral
MARKETING MANAGEMENT4 4= Disagree 5= Strongly disagree Have you ever complained about Patanjali Ayurved brand? Yes No What are your insights about Patanjali Ayurved brand for the following characteristics? Affordable price Better quality Natural products Benefits Customer service At what extent are you satisfied with the Patanjali Ayurved brand? 1 = Least satisfied 2= moderate satisfied 3= dissatisfied 4 = satisfied 5= most satisfied 12345
MARKETING MANAGEMENT4 Do you agree that Patanjali Ayurved brand provides health benefits to you as compared to other products? 1= Strongly agree 2= Agree 3= Neutral 4= Disagree 5= Strongly disagree 12345 From the assessment, it can be interpreted that both 50% of males and 50% of females are selected to decline the possibilities of biases from research. It is also analyzed that there are 16 out of 50 participants were belongs to 36-41 years. In contrast to this, 8 out of 50 participants were belongs to below 30 years. It is also assessed that there 17 out of 50 participants hasBelow 3 lacsincome while only 9 out of 50 participants has above 10 lacs. It is also evaluated that 15 out of 50 consumers are homemaker whereas only 5 out of 50 participants are students. There are 21 out of 50 participants who have alwayspurchase Patanjali Ayurved brand. In opposed to this, 11 out of 50participants who have seldompurchase Patanjali Ayurved brand. Through the assessment, it is observed that there are different reasonsfor purchasing the Patanjali Ayurved brand. These reasons are Good quality, Advertisements, Brand image of Baba Ramdev, Availability, and Health Benefits. In this way, it is evaluated that 29 out of 50 participants were
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MARKETING MANAGEMENT4 believed that good quality is key reason for purchasing the Patanjali Ayurved brand. Furthermore, 27 out of 50 participants were believed thatAdvertisementsis key reason for purchasing the Patanjali Ayurved brand. In addition,33 out of 50 respondents believe thatBrand image of Baba Ramdevis key reason for purchasing the Patanjali Ayurved brand. It is also evaluated that 38 out of 50 participants feel that availability of product is key reason for purchasing the Patanjali Ayurved brand. As well as, 30 out of 50 participants believe that health benefits are key reason for purchasing the Patanjali Ayurved brand. It is also demonstrated that 15 out of 50 consumers haveever complained about Patanjali Ayurved brandwhile most of the consumers i.e. 35 out of 50 have never complained about Patanjali Ayurved brand. It is also analyzed that consumer has their different insights regarding the Patanjali Ayurved brand for the following characteristics. These characteristics are Affordable price Better quality, Natural products, Benefits and Customer service. From this questionnaire, it is found out that 11 out of 50 consumers buys the products of Patanjali Ayurved brand due to natural products while 7 out of 50 participants were believed to buy Patanjali Ayurved brand due to its benefits. It is also determined that 15 out of 50 consumers were most satisfied with the Patanjali Ayurved brand while only 4 out of 50 consumers were dissatisfied with the Patanjali Ayurved brand. It is also assessed that 30 out of 50 consumers were agreed with the statement thatPatanjali Ayurved brand provides health benefits as compared to other products. In contrast to this, 12 out of 50 participants do not agreed with the statement thatPatanjali Ayurved brand provides health benefits. Preferred Alternative with Rationale There are a number of issues in the products of Patanjali as it has been found that the quality of them is not high as per the district food safety department. It is essential for the company to
MARKETING MANAGEMENT4 improve the quality in a significant manner in which they should make a commitment to improving the quality of the products. The mistakes should be tracked so that the company could make decisions in improving the quality of the products (Pandey and Sah, 2016). The company is facing issues regarding quality of the products that is why it is required for the company to provide the training program to them for increasing the quality of the products because the customers are the key factor of success. In the context of customers, it has been found that the believe of customers are decreased over the products of the company due to less quality in the products that is why it is vital for the company to organize the quality circle that should have skills to examine the quality of the products (Kumar, Jain, Rahman and Jain, 2014). Along with that, it has been found that the Patanjali is facing issues regarding the absence of a key sub- branded range under Patanjali “Umbrella”. The communications are done around the name of “Patanjali” and not around any sub-brand which has become the major cause of decreasing sales of their key categories. The products of the company are entirely dependent upon the co-founder of Patanjali- Baba Ramdev and any questions arising on their integrity will definitely impact the performance of the brand. Conclusion It can be concluded that Patanjali Ayurved has various factors of key to success such as less price, strong distribution channels, and strong brand associations and promotional through media. The key issues of Patanjali case study have been described in a significant manner in which it has been found that some products of the company are not compatible with quality. The decisions criteria have been elaborated in a sophisticated manner in which it has been found that the company did not follow the key success factor of FMCG India. Data analysis have been done to increase the better understanding of the Patanjali products in which the questionnaire has been
MARKETING MANAGEMENT4 prepared to get the answers from participants. Each graph has been interpreted to describe the meaning of it to the readers. Recommendations It can be recommended that marketing strategy ofPatanjali Ayurved brand should attract long-term consumersin order to conduct the successful product. There are large numbers of Patanjali consumers who are facing problem such as products are not available in the market regularly. It can be suggested that Patanjali Ayurved brand can increase their distribution channel(Solomon, et. al., 2014). The company should have focused on the production efficiency and improves the advertisement. The company should also scan the trends and conditions in order to operate in the area of the market, the lifestyle of consumers, growing influence and income levels(Hudson, et. al., 2016). It can be suggested that Patanjali Ayurved brand should gain increase the number of outlets and stores. As a result, it would be beneficial to increase their productivity and also ensures that there will be the high availability of products in the market(Bilgihan, et. al., 2016). It can be suggested that Patanjali Ayurved brand should add new attributes that a consumer can use in assessing the brand as it would be beneficial to influence the consumer behavior. It is also suggested that managers should improve their products by emphasizing on additional benefits with regards to using the brand(Fransen, et. al., 2015). It can be also recommended that Patanjali Ayurved brand should select the target market. The scanning and evaluation of market opportunity aids to address the different consumer
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MARKETING MANAGEMENT4 segment with diverse and exceptional needs and wants. The company should also address these groups and learns how to make a buying decision. As a result, it would enable the marketer to design the products and services as per the needs(Pappas, 2016).
MARKETING MANAGEMENT4 References Bilgihan, A., Barreda, A., Okumus, F., and Nusair, K., 2016. Consumer perception of knowledge-sharing in travel-related online social networks.Tourism Management,52, pp.287- 296. Dubey, J., 2017. Patanjali: Unique Brand Building and 4Ps.IUP Journal of Brand Management,14(3), pp.45-53. Evanschitzky, H., Eisend, M., Calantone, R.J. and Jiang, Y., 2012. Success factors of product innovation: An updated meta‐analysis.Journal of Product Innovation Management,29(S1), pp.21-37. Fransen, M.L., Verlegh, P.W., Kirmani, A. and Smit, E.G., 2015. A typology of consumer strategies for resisting advertising, and a review of mechanisms for countering them. International Journal of Advertising,34(1), pp.6-16. Hudson, S., Huang, L., Roth, M.S. and Madden, T.J., 2016. The influence of social media interactions on consumer–brand relationships: A three-country study of brand perceptions and marketing behaviors.International Journal of Research in Marketing,33(1), pp.27-41. Jaggi, R. and Ghosh, M., 2017. Consumer Perception of Patanjali Products: An Analytical Study.IUP Journal of Brand Management,14(1), p.13. Kumar, V., Jain, A., Rahman, Z. and Jain, A., 2014. Marketing through spirituality: A case of Patanjali Yogpeeth.Procedia-Social and Behavioral Sciences,133, pp.481-490. Mothilal, S., Gunasekaran, A., Nachiappan, S.P. and Jayaram, J., 2012. Key success factors and their performance implications in the Indian third-party logistics (3PL) industry.International Journal of Production Research,50(9), pp.2407-2422.
MARKETING MANAGEMENT4 Pandey, P. and Sah, R., 2016. The growth of Swadeshi-A Case Study on Patanjali Ayurved Limited.International Journal of Engineering Technology, Management, and Applied Sciences,4(7), pp.7-14. Pappas, N., 2016. Marketing strategies, perceived risks, and consumer trust in online buying behavior.Journal of Retailing and Consumer Services,29, pp.92-103. Patanjali, 2018. About us. Available [online]https://www.patanjaliayurved.net/about. Accessed on 7th June 2018. Rao, M.S., and Alexander, C.M., 2016. Traditional Wisdom in Indian Entrepreneurship-A Case Study on Patanjali.International Journal of Engineering and Management Research (IJEMR),6(5), pp.332-338. Shukla, T. and Sanghvi, R., 2017. India’s Fastest Growing FMCG Company: An Insight into Patanjali’s Marketing Strategies.Evidence-Based Management, p.105. Solomon, M.R., Dahl, D.W., White, K., Zaichkowsky, J.L. and Polegato, R., 2014.Consumer behavior: Buying, having, and being(Vol. 10). UK: Pearson. Yadav, R., 2017. Patanjali Ayurveda Limited: Attraction of Ayurveda Products.South Asian Journal of Business and Management Cases,6(1), pp.100-108.
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MARKETING MANAGEMENT4 Seldom Often Always 0510152025 11 18 21 frequently do you purchase Patanjali Ayurved brand frequently do you purchase Patanjali Ayurved brand Reason for purchasing the Patanjali Ayurved brand Good quality AdvertisementsThe brand image of Baba Ramdev AvailabilityHealth benefits 1= Strongly agree1113161714 2= Agree1814172116 3= Neutral68778 4= Disagree79535 5= Strongly disagree86527
MARKETING MANAGEMENT4 1= Strongly agree 2= Agree 3= Neutral 4= Disagree 5= Strongly disagree 0102030405060708090100 11 18 6 7 8 13 14 8 9 6 16 17 7 5 5 17 21 7 3 2 14 16 8 5 7 Reason for purchasing the Patanjali Ayurved brand Good quality Advertisements Brand image of Baba Ramdev Availability Health benefits Have you ever complained about Patanjali Ayurved brand Yes15 No35 15 35 Have you ever complained about Patanjali Ayurved brand Yes No What are your insights about Patanjali Ayurved brand for the following characteristics? Affordable price8
MARKETING MANAGEMENT4 Better quality11 Natural products14 Benefits7 Customer service10 0 4 8 12 16 8 11 14 7 10 What are your insights about Patanjali Ayurved brand for the following characteristics? What are your insights about Patanjali Ayurved brand for the following characteristics? At what extent are you satisfied with the Patanjali Ayurved brand? 1 = Least satisfied8 2= moderate satisfied9 3= dissatisfied4 4 = satisfied14
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MARKETING MANAGEMENT4 5= most satisfied15 1 = Least satisfied2= moderate satisfied 3= dissatisfied4 = satisfied5= most satisfied 0 2 4 6 8 10 12 14 16 89 4 1415 At what extent are you satisfied with the Patanjali Ayurved brand? At what extent are you satisfied with the Patanjali Ayurved brand? Do you agree that Patanjali Ayurved brand provides health benefits to you as compared to other products? 1= Strongly agree14 2= Agree16 3= Neutral8 4= Disagree7 5= Strongly disagree5
MARKETING MANAGEMENT4 1= Strongly agree 2= Agree 3= Neutral 4= Disagree 5= Strongly disagree 024681012141618 14 16 8 7 5 Do you agree that Patanjali Ayurved brand provides health benefits to you as compared to other products? Do you agree that Patanjali Ayurved brand provides health benefits to you as compared to other products?