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Patanjali Ayurved- Capturing Ayurvedic Fmcg Market

Essay by   •  January 26, 2019  •  Creative Writing  •  354 Words (2 Pages)  •  23 Views

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PATANJALI AYURVED- CAPTURING AYURVEDIC FMCG MARKET

Patanjali had grown from revenue of USD 68 million in FY2011-12 to USD 750 million in FY 2015-16.According to Global Industry Analysis a USA based market research firm predicted overall herbal supplements and remedies to grow by 8 billion till 2020.Europe is the largest and Asia-Pacific is fastest growing market. Changing Consumer preferences and awareness about hazardous chemicals was giving push to herbal and Ayurvedic FMCG. It forced FMCG players to add herbal and wellness products in their portfolio.Baba Ramdev focused on providing indigenous healthy options to the existing personal and household care products.Patanjali adopted ideology of using modern technologies and the art of Ayurveda together that represent importance of life. Patanjali prepared strategy to focus on gaps in the market to launch new products based on demand of the people instead of professional market research. It has eliminated the middlemen between farmers and the company by procuring majority of its raw materials resulting in better profit margins for retailers. Ad Campaigns communicates health benefits, Indian-ness and price benefit of its products. Chikitsalay started in cities with minimum population of 0.1 million while arogya kendras started in areas with population less than 0.1 lakhs.Online presence in e commerce websites and tie ups with state governments using forest products.FMCG market share of patanjali was expected to grow from 5% to 13% till 2019-20.patanjali planned to enter export market by targeting cosmetic and honey products.After the start of presence of many saint entrepreneurs in FMCG market Patanjali will face challenges in its market presence .Indian customers prefer those brands which have price control and that is the reason why patanjali is growing because of it having low price than competitors. Swadeshi brand created emotional appeal as well as spiritual influence is the reason for its rise in market share. Progressive Class have adverse views in many social issues than Ramdev but Patanjali managed to maintain his image and many cases on him may lead to harm on brand sales.With heavy investment on advertising, vast product range and substantial investment in distribution as well as supply chain Patanjali will overcome growth challenges.

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