You are on page 1of 5

LITERATURE REVIEW

Patanajali (FMCG)

SHREYA JAIN
PGDM-0025
INTRODUCTION

With a population of around 1.34 billion [1], India is the second largest market in the world in
terms of consumers after China. This has resulted in an intensely competitive FMCG space,
with many established domestic and multinational players vying for supremacy. Patanjali
Ayurveda has risen amidst this competition riding on innovation, alternate marketing
techniques and cheap good quality products (pranshoe et al., 2016).The ever changing
marketing scenario and heightened competition over the globe has amplified the role of brand
at unparalleled level. Every person is a consumer of different brands at the same time. The
choice and usage of a particular brand by the consumer over the time is affected by the quality
benefits offered by the brand especially when it comes to brand of eatables and cosmetics.
Consumer satisfaction is derived when he compares the actual performance of the product with
the performance he expected out of the usage (Rupali, 2015). Given a much broader array of
product choices offered in the current market and ubiquitous marketing efforts, consumers
often turn to a favorite brand to facilitate their purchase decisions. A brand includes a name,
symbol, design, or experience that help consumers identify products, services, or differentiate
offerings among competitors (Aaker, 1991; Keller, 2008; Neumeier, 2006). Academic
literature clearly addressed the importance of building a strong emotional relationship between
consumers and brands (Carroll &Ahuvia, 2006; Keller, 2001, 2008; Taylor, Cluch, & Godwin,
2004).According to Keller‘s (2001) more recent conceptual framework, consumers’ positive
brand feelings lead to favorable responses towards a brand, such as attitudinal attachment and
behavioral loyalty.

LITERATURE REVIEW
RESEARCH BACKGROUND
The Indian herbal market is flooded with numerous well-known and recognised herbal
brands. Vindhya Herbal is an initiative of Madhya Pradesh government to provide
unadulterated ayurvedic products to the people and for generating gainful employment for
the vulnerable and downtrodden section of the society. The study is to examine existing state
of Vindhya Herbal in Bhopal, its birthplace. Besides, this study talks about other parameters
like benefits/attributes consumer acquaintances with herbal products, awareness, preferential,
source of knowledge, usage and attitude related to herbal products.

The research design consisted of an exploratory phase followed by a descriptive cross-


sectional, close-ended questionnaire-based survey in Bhopal. As the study has been
conducted in a Hindi belt, the questionnaire was kept bilingual; Hindi and English. Sampling
was done on the basis of two criteria; 1) such regions were selected where almost major
herbal brands are available and 2) Respondents have used at-least one of the herbal brands.

Only 23 percent consumers responded to have used Vindhya herbal. Those who have used
Vindhya herbal have preference it, if available in a nearby store. Most of the respondents
mentioned that herbal products are prepared from the natural ingredient, as a result faced no
side effect. Purchase of herbal products primarily takes place on a monthly basis and use on
a daily basis. Doctors, family members and mass media were reliable sources and the
respondents trust on their recommendations for buying fresh herbal products. Desirability for
further information was high among consumers related to herbal products.

A study on consumer’s preference and perception towards Patanjali product:


From the analysis it is found that most of the customers are aware of the product through
advertisement, customers are satisfied with the quality & price of the product. All the selected
respondents were selected the product due to chemical free. Thus the result shows that the
users are satisfied with the Patanjali products. Ayurvedic and Herbal remedies are available
in all Patanjali and organic stores. Ayurvedic products are reasonably cost effective and well
accepted by customers. They are easily available and do not have side effects. With its rich
bio-diversity and rich heritage of Indian medicinal system, India would draw world attention
as an abode of eco-friendly medicinal systems that are in harmony with the nature, it is
concluded that all the customers are aware of the product, and the customers are satisfied
with the quality and price of the products. The Findings in the paper show that there are many
significant factors that together make up the buying decision of the product. Customers’
perception towards a brand is built largely on the satisfactory value the user receives after
paying for the product and the benefits the user looks for. In the above study, a large portion
of the user is satisfied from Patanjali products. It may be because of reasonable price of the
product. It may be due to ability of the product to cure the problem. The satisfaction brings
in the retention of customer. Patanjali is enjoying the advantageous position in market
through spirituality element involved in its products. However, it should not ignore the
competitors like Naturals, pure roots, Vindhya herbals. Patanjali in order to retain more
customers and satisfy them must fulfill the claims made by the company before any other
brand may mushroom up and take away the benefits of marketing through spirituality.

METHODOLOGY
A single cross-sectional research design was used for the survey and quantitative analysis was
used for the obtained dataset.

Primary data collection data collection was done through the online website using an online-
Based questionnaire. The answering scale for the questions related to brand image, consumer
Perceptions, consumer preference, consumer satisfaction and brand loyalty is a 7-item Likert scale
from ‘extremely likely to extremely unlikely’.

Secondary sources have been used to collect information about ‘Patanjali’


Brands. Journals, articles, research reports and government documents were reviewed to get the
insight of the previous interventions that the stakeholders and policy makers have already in place.
Also websites of natural products manufacturing company and online document were investigated
to conduct this research.

36 respondents answered the questionnaire out of which 34 were used for the further analysis
MS Excel was used for analyzing the information in the obtained dataset. The types of analysis
that were performed are t-test analysis, ANOVA and Pearson Correlation. By doing it, their effect
on individual objective was studied.

SUGGESTIONS
Patanjali has built up a significant brand image irrespective of demographic profile of
consumers involving Gender, Age and Marital status.

But it should try to build up loyalty intentions among the consumers. So with reference to
preference and loyalty, it is essential for Patanjali to deal with consumers’ perception that whether
they are willing to advise their product to others in addition to having the intent to purchase their
products again in future.

Lastly, in order to make a flourishing brand Patanjali must pay special attention to building a good
brand image, customer perceptions and brand loyalty as part of their branding strategies. Therefore
all three of these factors, i.e. brand image, brand loyalty and consumer perceptions would play a
vital role in shaping their brand popularity.

CONCLUSION
The findings in the project show that there are many significant factors that together make up the
buying decision of the product. Customers’ perception towards a brand is built largely on the
brand image the user perceives after paying for the product and the benefits the user looks for.
In the above study, a large portion of the user is satisfied from Patanjali products. It may be
because of reasonable price of the product. It may be due to ability of the product to cure the
problem. The satisfaction brings in the retention of customer. Patanjali is enjoying the
advantageous position in market through spirituality element involved in its products. However,
it should not ignore the competitors like Naturals, pure roots, Vindhya herbals. Patanjali in order
to retain more customers and satisfy them, must fulfill the claims made by the company before
any other brand may take away the benefits of marketing through spirituality.