Akshay Kumar J
Data Analyst, MBA (Finance)
Akshayrai2020@gmail.com
Abstract:
Patanjali
Ayurved ltd (PAL) has a short span of less than a decade, recorded a turnover
higher than what several companies have managed to achieve over several
decades. There is no doubt that Patanjali products are giving tuff
competition to other FMCG products in India. The success of Patanjali has
raised investors’ concerns about the impact on established consumer names. The
study explores customer satisfaction towards Patanjali FMCG products. A
study on customer satisfaction towards Patanjali products especially in the Mangalore
region. The main objective of this research is to identify the various factors
influencing customers' towards the purchase of Patanjali products, to know the customer
satisfaction level about the Patanjali products. The research design used in
this study is the descriptive research design.
Data
was collected from 150 sample respondents by using the survey method. The survey
was collected from Mangalore city in Karnataka, through a standard questionnaire,
with the help of selected 10 questions. Secondary data were collected from the
available literature sources. For the distribution of questionnaires to the
respondents, a random sampling method was used to collect the respondent's opinions. The survey was taken among the selected sample respondents, after collecting the
data from the respondents it was analyzed using factor analysis, percentage
analysis method. The collected data includes customer satisfaction towards
Patanjali products in the Mangalore region in detail.
Keywords: Patanjali ayurvedic
ltd, customer satisfaction, Buying behavior
Introduction:
The changing scenario,
high competition, consumer behavior over the globe is the greatest challenge to
a brand to be a player in the market. Every person consumes different brands at
same time, so it is a very difficult task to find out the consumer behavior time
to time. As we stated here the brand Patanjali how it faced all the
difficulties in the Indian market and grown like anything in a short period.
Acharya Balakrishna
Established Patanjali ayurvedic ltd in 2006 along with Baba Ramdev with the
objective of establishing the science of Ayurveda by using the latest technology
and ancient wisdom. The aim of the company is to provide Ayurvedic FMCG
products of superior quality at the lowest cost. Patanjali got huge support
from the Indian government because of the domestic companies providing a homogenous
product with the nameplate of SWADESHI. Patanjali Ayurveda ltd has more than
100 different products in the catalog for skin, hair, heart, eyes, and Kidney
Diseases. Patanjali group recently had a tie-up with the future group to enter into
FMCG segment and Bigbazar stores so that Patanjali getting closer to its
consumer. The main attractive part of the Patanjali products is “Ayurvedic”.
Ayurveda played a vital role in the growth of Patanjali ltd. The main purpose
of Patanjali is to provide the best quality of product at a lower cost. It also gives importance to consumer health, swadeshi or domestic product, etc.
Here consumer
satisfaction refers to whether the consumer is happy with the products. The
level of that satisfaction is influenced by its market value, demand growth,
price, quality, quantity, etc. Patanjali has come up with the best solution for all
these customer satisfaction problems. It strengthened its market value and
demand in the initial stage only. Ramdev Baba started yoga campaign all over
India. He created a good thought towards yoga for the people and also he made to
realize the importance of yoga in human life. For his yoga campaign, people are
attracted in huge amounts. People trusted
him and started to follow yoga, even the foreigners also. Now the time of Baba
Ramdev, immediately after the attraction of people towards yoga he launched
ayurvedic products. People already have great trust in him so that
made the customer buy his ayurvedic FMCG products and the Patanjali products
are sold rapidly in the market. This way the Patanjali Ayurvedic Ltd made huge growth in the Indian FMCG sector. Patanjali products are given sleepless
nights to MNCs like Nestle, Colgate, ITC, and Indian brands like Dabur, Godrej, etc. A recent report by the CLSA research shows that they have already reached up
to rupees 4500 crores revenue. The turnover of Patanjali Ayurvedic Limited of
Baba Ramdev grew 150% to more than Rs 5000 crores in 2015-16 from about Rs 2000
crores in the previous year and the BABA predicts the growth of the brand
would hurt the market share of existing FMCG majors. To give a comparison,
Nestle India’s turnover was Rs 8175 crores, HUL had Rs 30805 crores, Colgate – Palmolive
announced Rs 3981 crores at the end of 2015. Patanjali targets the turnover to
double to Rs 10000 crores in 2016-17.
Baba Ramdev promoted
Patanjali Ayurved has become the third-largest seller of FMCG products at the
shelves of Kishore Biyani-led Future Retail. The CEO of Future Group Kishore biyani told
that, “Patanjali has become number three in sales at the Future Retail’s
stores. The number one is HUL followed by P&G and Patanjali is at number
three at our place”. This way Patanjali is expanding its market in India.
According to a PTI reports, the group is all set to explore international
markets with its FMCG products and may also enter Pakistan and Afghanistan in the future.
Growth
in GMV of Company in recent years
|
2014-15 |
2015-16 |
2016-17 |
|
2500
Cr |
5000
Cr |
7000
Cr |
Patanjali Research Foundation:
Patanjali
Research Foundation was started in August 2010. It located at Haridwar in the
North of India.
The foundation aims at:
·
Evaluating indigenous system of medicine,
particularly yoga and Ayurveda.
·
To get new interesting results by the
Ayurvedic products.
·
To introduce new Ayurvedic FMCG products
and Medicines.
Objectives:
Ø To
know the customer satisfaction about the Patanjali products in Mangalore region
Ø To
identify various factors influencing customer in purchase of Patanjali products
Ø To
study the satisfaction level of consumers after using the Patanjali products.
Ø The
age influences the liking of Patanjali products.
Literature
review:
Many authors have
contributed to the field of customer satisfaction. This paper reviews the
existing literature on the satisfaction measurement and provides the
theoretical background for the development of a number of tools that help to
find customer satisfaction in the Mangalore region.
The paper investigates
the main reasons why measuring customer satisfaction is important. Through the
review of literature is shown that customer satisfaction measurement provides a
means to better understand the customer needs and so that company can find
their present position in the market and look towards its further growth in
Mangalore region
Scope of the study:
It is a study about
customer satisfaction towards Patanjali products in the Mangalore region. The study
was done by collecting primary data for that issued questionnaire and got
100 sample responses. The study was taken place in the Mangalore region. Online survey
data was taken as input with the help of that data. We found the satisfaction
level of different age group people towards the product in the market.
Research
Methodology:
This paper is based on
primary data collected through questionnaires from 150 users of Patanjali
products within the Mangalore region. We are using a convenient sampling method. The
questionnaire design is to build up to know the type of products people use,
the reason for buying such product and their post buying satisfaction level
from the product. Secondary sources have been used to collect information about
“Patanjali” brands from journals, articles, research reports, and online
websites.
Limitations
of study:
Ø Some
people are don’t wanted to lose their old brand product
Ø Many
people do not have proper knowledge about the Ayurveda and Patanjali products
Ø Some
products are different as while using the customer takes a lot of time to
adjust for particular product Ex: Danthkanthi toothpaste
Ø There
is some argument that Patanjali advertisements are not real.
Findings
and Observation:
The data collected
through the questionnaire is analyzed by frequency distribution. The below pie
chart and table are showing the frequency distribution of data.
·
In this survey, we found that the major
respondent in the Mangalore region will prefer to buy Patanjali products every day that
is 44%, the people who buy Patanjali products once a week are 23%, 17% are
the respondents who buy the Patanjali products once a month and rest 16%
are buys once in a three month.
·
In this survey, 53% majority group agreed
that Patanjali products are good enough, 39% are responded as excellent, 7% are
satisfied for its average satisfaction and rest 1% are argued that the
Patanjali products are poor.
Chi-Square test
In this case study, we analyzed that there is no significant relationship between
age group and liking of Patanjali product because chi-square calculated value
ie.1.646 is less than chi-square table value ie.5.991
Conclusion:
This paper shows that
there are many factors together that make up the buying decision of the product.
Customer perception towards the brand Patanjali especially in the Mangalore region
is built largely on the satisfactory value the user looks for. With obtained
information, we can exactly say that youths are highly attracted in high level
towards Patanjali products.
·
Ayurvedic products are good for health. It
keeps healthiness without any side effects on the human body. Hence the study has
been undertaken to know the customer satisfaction and preference.
·
It is learned that the Patanjali brand is a fast-moving brand that has a number of products that satisfy the daily needs of
human being.
Bibliography
Roopa Khanna.
((2015)). "A study on Patanjali brand". International
Research Journal, Volume 15 Issue 9 Version 1.0
Dr.T.N.R.Kavitha,
A.V Anitha. "IOSR Journal of Business Management (IOSR-JBM) e-ISSN:
2278-487X, p-ISSN; 2319-7668,PP08-12
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