COMPONENT-I

SYNOPSIS

CONSUMER TRUST AND PATANJALI

Under the guidance

Of
Ms. Purnima Bhatnagar

In partial fulfilment for the award of the degree

Of
Master of Business Management
DayalBagh Educational Institute, Agra

SUBMITTED BY:
ITI VERMA
INTEGRATED MBA
ROLL NO. 167675
 CONTENTS:
1. Introduction

2. Review of Literature

3. Need of the study

4. Objectives of the study

5. Research Methodology

6. Proposed Chapter Plan

7. References
 1.INTRODUCTION

“Like in several other areas the Indian FMCG is also witnessing its disruptive moments.
Interestingly the big disruption has come about from unconventional ownership. Yet another
interesting aspect is that unlike a few years ago the focus has shifted away from the foreign
direct investment in multi brand retail to home grown Ayurveda. This also reflects a
kind of latent desire among the Indian consumers to adopt the products which are safe,
healthy and free from side-effects,” said Assocham Secretary General D.S. Rawat.

1.1 INDIAN FMCG SECTOR:

FMCG is the fourth largest sector in the Indian economy. Household and Personal Care is the leading
segment, accounting for 50 per cent of the overall market. Hair care (23 per cent) and Food & Beverages
(19 per cent) comes next in terms of market share. Growing awareness, easier access, and changing
lifestyles have been the key growth drivers for the sector.

Retail market in India is estimated to reach USD1 trillion by 2020 from USD600 billion in 2015, with
modern trade expected to grow at 20 per cent per annum, which is likely to boost revenues of FMCG
companies

People are gracefully embracing Ayurveda products, which has resulted in growth of FMCG major,
Patanjali Ayurveda, with a m-cap of USD 14.94 billion. The company aims to expand globally in the next
5 to 10 years. [1]

Fig.1: THE FMCG MARKET HAS THREE MAIN SEGMENTS

HEALTH CARE
31%
HOUSEHOLD
FOOD AND
AND PERSONAL
BEVERAGES
CARE
19%
50%

FMCG

Source: Dabur, TechSci Research Notes: OTC is over the counter products; ethicals are a range of
pharma products, Data as of March 2016
In the long run, with the system becoming more transparent & easily compliable, demonetisation is
expected to benefit organized players in the FMCG industry.

Hair Care is the leading segment, accounting for 23 per cent of the overall market in terms of revenue.
Food Products is the 2nd leading segment of the sector accounting for 19 per cent followed by health
supplements & oral care which has a market share of 16 per cent & 15 per cent, respectively.

In the last few years, the FMCG market has grown at a faster pace in rural India compared with urban
India. FMCG products account for 50 per cent of total rural spending.

Patanjali Ayurveda, steered by Baba Ramdev has turned out to be the most disruptive force
in India’s fast moving consumer goods (FMCG) market which is expected to reach the USD
billion mark by 2020, according to an Assocham–TechSci Research paper.[2]

Table1. TOP 10 FMCG COMPANIES (2015-16)

RANK FMCG COMPANY REVENUE NET INCOME (INR

(INR CRORES)
CRORES)
1 ITC 36837 9845
2 HUL 31987 4082
3 BRITANNIA 7948 749
4 NESTLE INDIA 7961 444
5 DABUR 5750 940
6 MARICO 4947 702
7 PATANJALI AYURVED LTD. 5000 500
8 GODREJ CONSUMERS PRODUCT LTD. 4812 740
9 GLAXOSMITHKLINE CONSUMER 4309 687
HEALTH CARE
10 COLGATE-PALMOLIVE 4612 577
SOURCE: http://www.mbaskool.com/fun-corner/top-brand-lists/16180-top-10-fmcg-companies-
in-india-2016.html?start=3
1.2 CONSUMER TRUST:

“People trust us, and that’s what is making Patanjali big,”

- Said Baba Ramdev in an interview with Mint on

24 May [3]

Consumer trust is a very sensitive issue. Trust building is a long term process which requires a
lot of effort on part of a Company.

Trust means to be confident that one’s consumption is safe. “Trust, Materiality and
Responsibility can be a powerful combination in creating power brands of the 21st century”
(CSR Compendium: Touching Lives, Times Group Books, 2015)

“Brand name, followed by ingredient information and referral from friends and relatives emerge
as the top 3 factors that define trust for consumers.” (‘Winning Consumer Trust’, FICCI &
PwC analysis, 2015)

“Consumers are business’s brand ambassador and losing their trust will directly impact the brand
and future of the Company.” (The Business Value of Trust, Cognizant, May 2016)

According to the Business Value of Trust, Cognizant, May 2016: “Almost 70% of the Indian
consumers surveyed are willing to pay a premium for products and services from Companies that
they trust most.”

1.3 PATANJALI AYURVED LTD.

Patanjali Ayurved Ltd. was founded in the year 2006 by Yog Guru Baba Ramdev and Acharya
Balkrishna. It is headquartered in Haridwar, Uttarakhand and has registered office in Delhi. It
was established as a private limited company but subsequently got converted to public limited
company in 2007.

With around 800 products many of them in FMCG category the Company has significantly
increased its market share. Many of its product launches have impacted share of other FMCG
companies in that product category. Some of its flagship brands which have wrested the
market share of its competitors include Dant Kanti, Atta noodles and Kesh Kanti”, According
to an Assocham–TechSci Research paper .
1.3.1 EVOLUTION OF PATANJALI AYURVED LTD.

Due to adulterated products, consumers lose their trust in many brands. Health and purity
became major concern and home-grown products became customer’s first preference. There
were brands like Baidyanath and Dabur but their products were confined to Ayurvedic
medicines.

In 1995 Divya Yog Mandir Trust was established by Baba Ramdev in Haridwar, Kankhal [4]
which gradually grew into Patanjali Yogpeeth in Feb, 2005.

In 2003,Aastha TV began featuring morning yoga slot with Baba Ramdev being the host of a
program named 'Divya Yog' that airs on 5 am in the morning every day. The health conscious
people from different parts of the country watch this program and have started doing yoga from
the comforts of their home. Within a few years, he had gathered a huge following. A large
number of people and many celebrities in India and abroad have attended his yoga camps.

Patanjali Ayurveda Kendra Pvt. Ltd. was founded by Swami Ramdev & Ayurveda Acharya
Shree Balkrishna on 27 Sept. 2007 which started its operation at Swoyambhu, Katmandu, Nepal
to provide holistic, natural and effective Ayurveda treatment. [5].

In addition to Patanjali Ayurveda Kendra Pvt. Ltd. Baba Ramdev established following
institutions- Patanjali Yogpeeth Trust, Patanjali Ayurved College, Patanjali Chikitsalaya, Yog
Gram, Goshala ,Patanjali Herbal Botanical Garden, Organic Agriculture Farm, Patanjali Food
and Herbal Park Ltd.

The Business Dimension

On 23rd April 2012, Monday, Patanjali Ayurved Limited had announced its entry into the retail
sector by launching 100 products to be expanded up to 800, including body care, healthcare,
home care, digestive, cosmetics, toiletries and others products. [5].

Shareholders: Acharya Balkrishna told the Times of India about how funds were arranged for
Patanjali Ayurved Limited: “I had to take a Rs. 50-60 crore personal loan. Prior to this, I did not
even have a personal account in a bank”. Sunita and Sarwan Poddar, followers of Baba Ramdev
gave Balkrishna the first loan to start the business.

Acharya Balkrishna: 94% (also M.D. of Patanjali Ayurved Ltd.)

Poddar Sarwan and Poddar Sunita holding 3% share each: NRI couple from U.K.
1.3.2 DISTRIBUTION CHANNELS:

Patanjali Ayurved Limited Chief Managing Director Acharya Balakrishna at a press conference
said “Compared to other multi-national company products, these products would be cheaper by
at least 30%. This difference is because all the raw materials are sourced directly from farmers
and which in turn reduce overall costs. He further said that our objective is to empower people,
particularly farmers economically through the promotion of these products. Profits from the
venture would be used to finance initiatives like health care, rural economy and others”.

IMAGE SOURCE: A REPORT ON PATANJALI AYURVEDA- BY MANAN SETHI [6]

It has 3 manufacturing units located in Haridwar for manufacturing of its products with the retail
sale of these products being done through:

 Patanjali Chikitsalaya
 Patanjali Arogya Kendra
 Swadeshi Kendra

SUPPLY CHAIN MODEL: FOR PATANJALI

SUPPLY CHAIN MODEL: FOR AYURVEDIC MEDICINES: PATANJALI [5]

It has more than 177000 retail outlets spread across the country (According to document
available with Care Ratings dated May 2015).
TABLE 2: PRODUCT PORTFOLIO OF PATANJALI:

NATURAL HEALTH CARE PRODUCTS NATURAL PERSONAL CARE

Digestives PRODUCTS
Chyawanprash Skin care
Ghee Hair care
Health Drinks Toiletries
Health & Wellness Shishu care
Badam Pak Dental care
Honey Body care
Fruit Juice Eye care
Electronic items (Anulom Vilom Yantra) Shaving cream

NATURAL FOOD PRODUCTS NATURAL AYURVEDIC PRODUCTS

Biscuits & Cookies Kwath
Herbal Tea Vati
Soan Papdi Churna
Gram Flour Parpati / Vas
Corn Flakes Arishta
Noodles Syrup
Namkeen Oil
Spices Balm
Jam Tablets
Murabba Packages for diseases
Broken cereals dalia Bhasma
Natural sugar Guggul
Pickle Pishti
Pulses Asava
Oats Godhan Ask
Bura Lep
Candy Inhaler
Mustard oil
Rice
Papad

HERBAL HOME CARE PRODUCTS PATANJALI PUBLICATION

Agarbatti MP3
Herbal Care VCDs
Herbal Gulal DVDs
Dish Wash Bar Audio CDs
Hawan Samagri Audio Cassette
Books
SOURCE : www.patanjaliayurved.net
 1.4 ADVERTISING STANDARDS COUNCIL OF INDIA (ASCI)
In an era of keen competition, advertisements often tend to amplify and misrepresent facts. The
Indian advertising market as a whole is controlled and regulated by a non-statutory body, The
Advertising Standards Council of India (ASCI).ASCI was established in the year 1985 as a self
regulatory mechanism for ensuring ethical advertising practices. To regulate Advertisement in
India, ASCI has adopted a Code for Self Regulation In Advertising. The ASCI Code aims to
protect the legitimate interests of consumers by regulating patently false, misleading, and
objectionable advertisements broadcast on television, radio, and internet by advertisers, media
and advertising agencies.

The key objectives of ASCI Code is to ensure that advertisements must-

 Make truthful and honest representations and claims which is essential to prohibit
misleading advertisements.
 Not be offensive to public decency and morality
 Not promote products which are harmful or hazardous to society or to individuals,
particularly minors.
 Observe fairness in competition keeping in mind consumer’s interest.

In August 2006, ASCI Code was made compulsory by the government for television
advertisements.

Under the ASCI Code, complaints against advertisements can be made by any person who
considers them to be false, misleading, offensive, or unfair. These complaints are then evaluated
by an independent Consumer Complaints Council (“CCC”) having 21 members: 12 from general
public and 9 from advertising practitioners.

Three types of complaints are handled by ASCI:

A) From general public including government officials, consumer groups.etc.

B) Suo Motu Complaints from the member of the ASCI board, CCC, or the Secretariat.
C) Intra industry i.e. complaints from one advertiser against another.

Many TV commercials do not follow the ASCI CODE very formally and there is no contol
of ASCI over all such issues which could be handled by them. (Social and Legal
Implications of Television Advertising in India, DR. TEJAL JANI AND HIMANI
SARDAR, IMPERIAL JOURNAL OF INTERDISICPLINARY RESEARCH, VOL-2,
ISSUE-12,2016)
 2. REVIEW OF LITERATURE

2.1 NATIONAL REVIEWS

S. Year &
Author Topic Objectives Findings
No. Journal
1 Pranshoe Growth of July,  Patanjali has grown
Pandey Rahul Swadeshi- A Case 2016 in The following report is an exponentially in terms of
Sah Study on Patanjali Internatio analysis of Patanjali revenue in the past few years
Ayurved Limited nal Ayurved and its
with a combined annual
Journal performance and impact in
growth rate (CAGR) of 64.5
of the Indian FMCG space.
% compared to the industry
Engineeri The report first analyses
average of 17.5%, riding on
ng the FMCG Industry of
Technolo India in terms of major innovation and brand

gy, players, segments, growth visibility.

Manage trends etc.
ment &
Applied
Sciences
2 Ranjita Gupta Disruptive June, The case study aims to
From the year 2009, the
Marketing and 2016 In understand the tremendous
revenues of Patanjali are: In
Brand Building– AEBM success of Patanjali
2009-10 163 crore Rs. 2010-11
A Case (Advance Ayurved Limited an
317 crore Rs. (194.48 %),
Study of s and FMCG company,
2011-12 446 crore Rs.
Patanjali, Economi established in 2006 and its
(140.69%), 2012-13 850 crore
Ayurveda cs and diversification into
Rs. (190.58%), 2013-14 1,200
Limited Business Ayurvedic, herbs, food,
crore Rs. (141.18%), and 2014-
Manage cosmetics & juices.
15 2,006 crore Rs. (167.17%)
ment).
and in 2015-16 5000 crore
(249.25%).
3 Dr. Pooja A STUDY OF June, 1. To analyse the growing Patanjali is most emerging
Ramchandani THE SUCCESS 2016 in trends of Patanjali brand. company is FMCG sector. In
STORY OF Sai Om 2. To analyse the factors few years, it will cover the wide
PATANJALI: Journal that are contributing to the market share in this sector.
AN of growth of Patanjali brand.
AYURVEDIC Commerc
BRAND IN e &
FMCG MARKET Manage
ment.
4 Shomnath STUDY OF April, • To study the evolution of Among the 12 popular
Dutta PRESENT 2015 in the Ramdev's ventures Ayurvedic companies in Siliguri,
MARKET Internatio Patanjali Ayurved Limited Patanjali's growth rate appears to
STANDING OF nal as Flagship brand for be praiseworthy campaign &
YOGI GURU Journal Ayurvedic and FMCG easy availability is ensured.
RAMDEV'S of products.
FLAGSHIP Research • To survey the use of
BRAND in Patanjali’s products in
PATANJALI IN Engineeri comparison with other rival
AYURVED AND ng, companies in Siliguri area
FMCG Social of North Bengal.
SECTORS IN Sciences
AND AROUND
SILIGURI CITY
OF NORTH
BENGAL
5 Abneesh Roy, Patanjali October, The main objective of the it is an all-around study of
Pooja Lath, Ayurved: waiting 2015- by study is to know about the Patanjali in which the future of
Tanmy Shrama in the wings Edelweis future of Patanjali and to Patanjali limited is forecasted
s predict future challenges it based on past trends of Patanjali
Securities would face. which shows that Patanjali has a
Ltd. bright future.
6 Dr. Harish B. A Yogic Business 2014 in To identify the problems This research discusses the
Bapat, Dr. Revolution: Back IOSR which are coming in the problems with Patanjali. It says
Vishal to the future Journal way of Patanjali and how that the main problem with
Khasgiwala of to resolve them. Patanjali is it’s supply chain
Business management and appointment of
& Doctors.
Manage
ment.
7 Dr. Ramesh Desi Hustle Vs April, 1) To investigate the Patanjali is taking the market
Sardar MNC Muscle : 2014 in objective behind Patanjali share of other big FMCG giants
the case study of Case Ayurved Limited venturing due to brand image, high quality
Patanjali Ayurved Studies into FMCG market. of product, reasonable price and
Ltd Journal 2) The case also aims at "Swadeshi" effect.
ISSN. studying the competition
between Patanjali Ayurved
Limited and other MNC‟s
in
FMCG sector.
8 Vinod Marketing May,201 this paper talks about Patanjali Yogpeeth is fully
Kumara*, through 4 in marketing through utilizing its spiritual competitive
Ankit Jainb, Spirituality: A Elsevier spirituality advantage, created by Swami
Zillur Case of Patanjali Ltd. through the case study and Ramdev Ji, to sell its own
Rahmana, Yogpeeth success story of Patanjali products in the market. Patanjali
Akhil Jaina Yogpeeth. The research Yogpeeth is not
uses a qualitative approach only selling its Ayurvedic
to collect medicines, but also diversifying
data from various officials itself through selling of FMCG
of Patanjali Yogpeeth products.
through unstructured face-
to-face interviews
 2.2 INTERNATIONAL REVIEWS:
S.
Author Topic Year Objectives Findings
No.
1 Abdurrahman Effects of Brand 2015 in The purpose of this study Overall, the results of this study
ISIK, Mehmet on Consumer Eurasia was to examine the indicated that brand image has
Fatih YASAR Preferences: A n relationship between positive and significant impact
study in Journal brand and consumer on consumer preferences.
Turkmenistan of preference with Structural
Busines Equation Model in
s and Turkmenistan.
Econo
mics.
2 Thu Ha, Nguyen Factors that 2014 in 1) To gain in-depth and The research identified five
Ayda Gizaw influence Malard analyses the factors that factors that influence consumer
consumer ens influence consumer buying behaviour in Low price
purchasing Hogsko choices of buying grocery private label that is: Brand and
decisions of la PLBs products. Provide Brand related activities
Private Label Eskiltu contributions to the (advertisement& word of
Food Products na company to gain better mouth), Consumer Perception,
A case study of Vastera insights into customer Attitude, Purchase Intention
ICA Basic s: mind and possibility and Demographic factors.
School 2) To evaluate their PLB;
of also, the findings help to
busines provide suggestions for
s, product development
society opportunities.
and
enginee
ring
 Siti Nurafifah Consumers’ 2012 in • To determine factors The result of this study shows
Jaafar, Pan Ein Perceptions, Asian perceived to be important the association between almost
Lalp, Mohaini Attitudes and Journal in the purchase of private all independent variables and
3 Mohamed Naba Purchase of label food products. purchase intention towards
Intention Busines • To determine factors private label brand food
towards Private s and those predict purchase products.
Label Food Manage intention of private label
Products in ment food products.
Malaysia Science • To compare perception
s. of extrinsic factors,
intrinsic factors and
consumers’ attitudes
among consumers who
have and do not have past
purchasing experience
with the private label food
products.
4 Elena Delgado- Brand trust in 2012 in The interest in adopting The existing literature of brand
Ballester and the context of Europe this strategic approach loyalty has essentially focused
Jose Luis consumer an derives from the value on the roles of perceived
Munuera- loyalty Journal that brand loyalty quality, brand reputation and
AlemaÂn of generates to companies in especially satisfaction, due to
Marketi terms of: the fact that they summarize
ng. • A substantial entry consumers’ knowledge and
barrier to competitors; experiences, guiding their
• An increase in the firm’s subsequent actions. In this
ability to respond to context, the shifting emphasis
competitive threats; to relational marketing has
• Greater sales and devoted a lot of effort to
revenue; and analyze how trust is constructed
• A customer base less to predict future intention.
sensitive to the marketing
efforts of competitors.
5 Christoph Towards an 2009 in The paper develops a In the context of increasingly
Burmann, Marc identity-based Journal new integrated approach, interchangeable product and
Jost-Benz, Nicola brand equity of thus seeking to service offerings, brands are
Riley model Busines improvement of crucial drivers for product
s measurement of brand purchasing and usage decisions.
Researc and thereby managerial Thus, they constitute a
h equity. substantial intangible asset for
most companies. In order to
maximize this asset, current
research has developed various
brand equity models. However,
the majority of these base their
approach on an outside-in
perspective by focusing on
buyer perceptions of the brand
and their related buying
behaviour.
6 Sandor Czellar Consumer 2002 in The article examines the research says that the
Attitude Univers successively the processes consumer perception goes to
Towards Brand ity of of: the brand, which leads to
Extensions : An Geneva (1) Fit perception, extention. Consumer age
Integrative . (2) Formation of primary moderates the relationship
model attitudes towards the between extension attitude and
and research extension, behaviour.
propositions (3) Link between brand
extension attitude and
behaviour,
(4) Reciprocal effects of
brand extension attitude
on parent brand/extension
category attitude.
7 A. BeleÂn del The effects of 2001 in the objective of the study This paper studies the
RõÂo, Rodolfo brand Journal is to analyze the effect of dimensions of brand image,
Va zquez, associations on of brand associations in focusing on the functions or
VõÂctor Iglesias consumer Consu consumer response. value of the brand as perceived
response mer by consumers. In this way, four
Marketi categories of functions are
ng identified: guarantee, personal
identification, social
identification and status.

3. NEED OF THE STUDY:

Patanjali has emerged as a game changer in FMCG Sector by the introduction of Ayurvedic
products in market. It has also experienced an extraordinary growth in its turnover, which has
been a matter of concern for its rivals.
The turnover of Patanjali Ayurvedic Limited of Baba Ramdev grew 150% to more than Rs 5000
crore in 2015-16 from about Rs 2000 crore in the previous year. According to a report by
multinational brokerage company CLSA, Patanjali is bigger that Emami and Jyothy Labs and is
"perhaps the fastest growing fast moving consumer company in India".
For any company to be successful, its customers play a major role. The present study is done
with a view to analyze consumer perception towards Patanjali and to test their purchase
intention.

4. OBJECTIVES OF THE STUDY:

The study aims to achieve the following purposes:

1. Major factors that consumers consider while purchasing Patanjali products.

2. Level of consumers trust towards Patanjali
5. RESEARCH METHODOLOGY:

5.1 RESEARCH OBJECTIVES: The objective of this study is to check the level of trust of consumers
towards Patanjali by analyzing their purchase intention towards selected Patanjali products in 2 different
situations :

 When Patanjali Ad is shown to them.

 After disseminating information about Patanjali violating ASCI code.

5.2 SAMPLE SIZE: 60 students will be selected:

 Experiment Group: 30 students

 Control Group: 30 students

5.3 SAMPLING TECHNIQUE: Convenience Sampling

5.4 SAMPLE AREA: Agra

5.5 SOURCE OF DATA: The study is based on primary data.

5.6 TOOLS:

o Data collection tool: Questionnaire.

o Presentation tools: bar diagrams, tabular presentation etc. tools will be used.

o Analytical tools: test of significance.

5.7 HYPOTHESES:

For achieving the purpose of the study, the following null hypotheses are framed:

Ho1: There is no difference in purchase intention pre and post disseminating of information about
Patanjali Advertisement of Dant Kanti violating ASCI Code.

Ho2: There is no difference in purchase intention pre and post disseminating of information about
Patanjali Kesh Kanti Advertisement violating ASCI Code.
6. PROPOSED CHAPTER PLAN:

CHAPTER 1: Introduction

CHAPTER 2: Review of Literature.

CHAPTER 3: Theoretical Background.

CHAPTER 4: Attributes of Patanjali Products that attract consumers.

CHAPTER 5: Level of trust of consumers towards Patanjali.

CHAPTER 6: Findings and Conclusions.

CHAPTER 7: Suggestions.

CHAPTER 8: Limitations of the Study.

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VOL-2

[30] http://www.dnaindia.com/money/report-baba-ramdev-s-patanjali-fastest-growing-fmcg-in-india-
wish-it-was-listed-says-clsa-report-2119556
[31] http://www.hindustantimes.com/business/patanjali-s-turnover-growth-at-150-ramdev-targets-rs-
10000-crore-revenue/story-rco5EKHwY2MPZSUIiZ5iUP.html

[32] www.patanjaliayurved.net

[33] http://www.mbaskool.com/fun-corner/top-brand-lists/16180-top-10-fmcg-companies-in-india-
2016.html?limitstart=0

[34] http://economictimes.indiatimes.com/industry/cons-products/fmcg/patanjali-becomes-3rd-largest-
fmcg-seller-at-future-retail/articleshow/53859974.cms

[35] https://yourstory.com/2017/01/c5edeadc03-the-epic-rise-of-patanjali-game-changer-in-indian-fmcg-
industry/

[36]http://www.indiatvnews.com/news/india-top-5-patanjali-products-behind-company-s-massive-
revenue-growth-326163

[37] http://www.ibef.org/industry/indian-consumer-market.aspx

[38] http://www.thehindu.com/news/cities/mumbai/business/fastmoving-ayurvedic-
goods/article8187124.ece
 COMPONENT II
REVIEW OF LITERATURE

CONSUMER TRUST AND PATANJALI

Under the guidance

Of
Ms. Purnima Bhatnagar

In partial fulfilment for the award of the degree

Of
Master of Business Management
DayalBagh Educational Institute, Agra

SUBMITTED BY:

ITI VERMA

INTEGRATED MBA

ROLL NO. 167675

 1. REVIEW OF LITERATURE

1.1 NATIONAL REVIEWS

S. Year &
Author Topic Objectives Findings
No. Journal
1 Pranshoe Growth of July,  Patanjali has grown
Pandey Rahul Swadeshi- A Case 2016 in The following report is an exponentially in terms of
Sah Study on Patanjali Internatio analysis of Patanjali revenue in the past few years
Ayurved Limited nal Ayurved and its
with a combined annual
Journal performance and impact in
growth rate (CAGR) of 64.5
of the Indian FMCG space.
% compared to the industry
Engineeri The report first analyses
average of 17.5%, riding on
ng the FMCG Industry of
Technolo India in terms of major innovation and brand

gy, players, segments, growth visibility.

Manage trends etc.
ment &
Applied
Sciences
2 Ranjita Gupta Disruptive June, The case study aims to
From the year 2009, the
Marketing and 2016 In understand the tremendous
revenues of Patanjali are: In
Brand Building– AEBM success of Patanjali
2009-10 163 crore Rs. 2010-11
A Case (Advance Ayurved Limited an
317 crore Rs. (194.48 %),
Study of s and FMCG company,
2011-12 446 crore Rs.
Patanjali, Economi established in 2006 and its
(140.69%), 2012-13 850 crore
Ayurveda cs and diversification into
Rs. (190.58%), 2013-14 1,200
Limited Business Ayurvedic, herbs, food,
crore Rs. (141.18%), and 2014-
Manage cosmetics & juices.
15 2,006 crore Rs. (167.17%)
ment).
and in 2015-16 5000 crore
(249.25%).
3 Dr. Pooja A STUDY OF June, 1. To analyse the growing Patanjali is most emerging
Ramchandani THE SUCCESS 2016 in trends of Patanjali brand. company is FMCG sector. In
STORY OF Sai Om 2. To analyse the factors few years, it will cover the wide
PATANJALI: Journal that are contributing to the market share in this sector.
AN of growth of Patanjali brand.
AYURVEDIC Commerc
BRAND IN e &
FMCG MARKET Manage
ment.
4 Shomnath STUDY OF April, • To study the evolution of Among the 12 popular
Dutta PRESENT 2015 in the Ramdev's ventures Ayurvedic companies in Siliguri,
MARKET Internatio Patanjali Ayurved Limited Patanjali's growth rate appears to
STANDING OF nal as Flagship brand for be praiseworthy campaign &
YOGI GURU Journal Ayurvedic and FMCG easy availability is ensured.
RAMDEV'S of products.
FLAGSHIP Research • To survey the use of
BRAND in Patanjali’s products in
PATANJALI IN Engineeri comparison with other rival
AYURVED AND ng, companies in Siliguri area
FMCG Social of North Bengal.
SECTORS IN Sciences
AND AROUND
SILIGURI CITY
OF NORTH
BENGAL
5 Prof. Nitesh Brand Decembe The objective of the study 1. Respondents prefer a specific
Behare, Dr. preferences: A r, 2015 in is to examine the brand brand because of high quality
Aruna S. study on Internatio preferences of the standard and easy availability of
Wadekar, Prof consumer anl consumers in buying the products.
Shrikant behaviour Journal various Ayurvedic 2. Consumers with different age
Waghulka, towards of products groups have different perception.
Prof. Niranjan Ayurvedic Research
Diwan, Prof. products with in IT &
Neema Pai, special reference Manage
Prof. Archana to amaravati ment
Patil Region
6 Abneesh Roy, Patanjali October, The main objective of the it is an all-around study of
Pooja Lath, Ayurved: waiting 2015- by study is to know about the Patanjali in which the future of
Tanmy Shrama in the wings Edelweis future of Patanjali and to Patanjali limited is forecasted
s predict future challenges it based on past trends of Patanjali
Securities would face. which shows that Patanjali has a
Ltd. bright future.
7 Dr. Harish B. A Yogic Business 2014 in To identify the problems This research discusses the
Bapat, Dr. Revolution: Back IOSR which are coming in the problems with Patanjali. It says
Vishal to the future Journal way of Patanjali and how that the main problem with
Khasgiwala of to resolve them. Patanjali is it’s supply chain
Business management and appointment of
& Doctors.
Manage
ment.
8 Dr. Ramesh Desi Hustle Vs April, 1) To investigate the Patanjali is taking the market
Sardar MNC Muscle : 2014 in objective behind Patanjali share of other big FMCG giants
the case study of Case Ayurved Limited venturing due to brand image, high quality
Patanjali Ayurved Studies into FMCG market. of product, reasonable price and
Ltd Journal 2) The case also aims at "Swadeshi" effect.
ISSN. studying the competition
between Patanjali Ayurved
Limited and other MNC‟s
in
 FMCG sector.

9 Vinod Marketing May,201 this paper talks about Patanjali Yogpeeth is fully
Kumara*, through 4 in marketing through utilizing its spiritual competitive
Ankit Jainb, Spirituality: A Elsevier spirituality advantage, created by Swami
Zillur Case of Patanjali Ltd. through the case study and Ramdev Ji, to sell its own
Rahmana, Yogpeeth success story of Patanjali products in the market. Patanjali
Akhil Jaina Yogpeeth. The research Yogpeeth is not
uses a qualitative approach only selling its Ayurvedic
to collect medicines, but also diversifying
data from various officials itself through selling of FMCG
of Patanjali Yogpeeth products.
through unstructured face-
to-face interviews
10 Mayank batra Green Marketing: 2013 in • To investigate the level of Consumers’ level of awareness
and Amit jain A Study of Electroni awareness of Indian about green products is found to
Consumer c Green consumers about green be high but at the same time
Perception and Journal products and practices. consumers are not aware about
Preferences in • To measure the green green initiatives undertaken by
India values of the customers. various government and non-
• To identify the brands, government agencies signifying
consumer associate with need for more efforts from
green marketing practices. organizations in this regard.
• To investigate the Newspaper remains leading
preferences of Indian source of information for most of
consumers about green the respondents and should be
products. utilized more for reaching out to
• To identify the factors the consumers regarding green
that influences the products and practices.
customer persuasion to buy
green products.
• To understand the issues
and challenges of green
 marketing practices.

11 Md. Irshad Ali, A STUDY OF June,  To determine the There is not at all shortage in the
Manmohan CONSUMER 2015 in reason why people are demand for herbal products in
using herbal products
Yadav, PERCEPTION Internatio the market. The consumers
 To compare the
OF HERBAL nal level of familiarity and concern towards health risk and
PRODUCTS IN Journal favourability of harmful effect of chemical
BHOPAL (WITH of consumers with Vindhya products forces them to switch
Herbal Products and
SPECIAL Manage over to natural products
others brands available
REFERENCE TO ment in the market.
VINDHYA Studies.  To analyse the
HERBAL aspects of consumer’s
familiarity, information
PRODUCTS)
desired and attitude with
Herbal products.
12 Vikrant Arya, CONSUMER 2012 in The objective of this After an analysis of response
Raneev BUYING Ayurphar research survey was to received it has been concluded
Thakur, Suresh BEHAVIOUR m- study the consumer that the people of Joginder Nagar
Kumar, TOWARDS Internatio behavior in consuming / are more interested in the
Sanjeev Kumar AYURVEDIC nal purchasing Ayurvedic Ayurvedic OTC products as
MEDICINES / Journal medicines/products and compared to the
PRODUCTS IN of their attitudes toward product/medicine recommended
JOGINDER Ayurveda herbal medicines in by Physicians. Hence, scientific
NAGAR - A and Joginder Nagar region of knowledge of the
SURVEY Allied Himachal Pradesh, India. Ayurvedic/herbal drugs has to be
Sciences. transmitted out in a systematic
manner to compete the
international market and provide
consumer satisfaction. The
people of Joginder Nagar had not
responded as per estimation and
 hence the results are little bit
deviated from exact situation
prevailing in India for Ayurveda.

13 Dr. Tejal Jani, SOCIAL AND 2016 in -To analyse the social All the TVCs analyzed gives the
Dr. Himani LEGAL Imperial implications of TVCs in results that many TV
Sardar IMPLICATIONS Journal India. commercials do not follow the
OF of -to understand the legal ASCI Code very formally and
TELEVISION Interdisci provisions made for TVCs there is no control of ASCI over
ADVERTISING plinary in India. all such issues.
IN INDIA Research -to study the different
effects of TVCs on society.
 1.2 INTERNATIONAL REVIEWS:
S.
Author Topic Year Objectives Findings
No.
1 Abdurrahman Effects of Brand 2015 in The purpose of this study Overall, the results of this study
ISIK, Mehmet on Consumer Eurasia was to examine the indicated that brand image has
Fatih YASAR Preferences: A n relationship between positive and significant impact
study in Journal brand and consumer on consumer preferences.
Turkmenistan of preference with Structural
Busines Equation Model in
s and Turkmenistan.
Econo
mics.
2 Thu Ha, Nguyen Factors that 2014 in 1) To gain in-depth and The research identified five
Ayda Gizaw influence Malard analyses the factors that factors that influence consumer
consumer ens influence consumer buying behaviour in Low price
purchasing Hogsko choices of buying grocery private label that is: Brand and
decisions of la PLBs products. Provide Brand related activities
Private Label Eskiltu contributions to the (advertisement& word of
Food Products na company to gain better mouth), Consumer Perception,
A case study of Vastera insights into customer Attitude, Purchase Intention
ICA Basic s: mind and possibility and Demographic factors.
School 2) To evaluate their PLB;
of also, the findings help to
busines provide suggestions for
s, product development
society opportunities.
and
enginee
ring
 Siti Nurafifah Consumers’ 2012 in • To determine factors The result of this study shows
Jaafar, Pan Ein Perceptions, Asian perceived to be important the association between almost
Lalp, Mohaini Attitudes and Journal in the purchase of private all independent variables and
3 Mohamed Naba Purchase of label food products. purchase intention towards
Intention Busines • To determine factors private label brand food
towards Private s and those predict purchase products.
Label Food Manage intention of private label
Products in ment food products.
Malaysia Science • To compare perception
s. of extrinsic factors,
intrinsic factors and
consumers’ attitudes
among consumers who
have and do not have past
purchasing experience
with the private label food
products.
4 Elena Delgado- Brand trust in 2012 in The interest in adopting The existing literature of brand
Ballester and the context of Europe this strategic approach loyalty has essentially focused
Jose Luis consumer an derives from the value on the roles of perceived
Munuera- loyalty Journal that brand loyalty quality, brand reputation and
AlemaÂn of generates to companies in especially satisfaction, due to
Marketi terms of: the fact that they summarize
ng. • A substantial entry consumers’ knowledge and
barrier to competitors; experiences, guiding their
• An increase in the firm’s subsequent actions. In this
ability to respond to context, the shifting emphasis
competitive threats; to relational marketing has
• Greater sales and devoted a lot of effort to
revenue; and analyze how trust is constructed
• A customer base less to predict future intention.
sensitive to the marketing
efforts of competitors.
5 Christoph Towards an 2009 in The paper develops a In the context of increasingly
Burmann, Marc identity-based Journal new integrated approach, interchangeable product and
Jost-Benz, Nicola brand equity of thus seeking to service offerings, brands are
Riley model Busines improvement of crucial drivers for product
s measurement of brand purchasing and usage decisions.
Researc and thereby managerial Thus, they constitute a
h equity. substantial intangible asset for
most companies. In order to
maximize this asset, current
research has developed various
brand equity models. However,
the majority of these base their
approach on an outside-in
perspective by focusing on
buyer perceptions of the brand
and their related buying
behaviour.
6 Sandor Czellar Consumer 2002 in The article examines the research says that the
Attitude Univers successively the processes consumer perception goes to
Towards Brand ity of of: the brand, which leads to
Extensions : An Geneva (1) Fit perception, extention. Consumer age
Integrative . (2) Formation of primary moderates the relationship
model attitudes towards the between extension attitude and
and research extension, behaviour.
propositions (3) Link between brand
extension attitude and
behaviour,
(4) Reciprocal effects of
brand extension attitude
on parent brand/extension
category attitude.
7 A. BeleÂn del The effects of 2001 in the objective of the study This paper studies the
RõÂo, Rodolfo brand Journal is to analyze the effect of dimensions of brand image,
Va zquez, associations on of brand associations in focusing on the functions or
VõÂctor Iglesias consumer Consu consumer response. value of the brand as perceived
response mer by consumers. In this way, four
Marketi categories of functions are
ng identified: guarantee, personal
identification, social
identification and status.
8 Ruth M.W. Food safety risk 2001 in • How do the It simply says that food safety
Yeung and Joe Consumer British characteristics of food has become one of the
Morris perception and Food risk affect consumers’ important thing and
purchase Journal risk perception of food government is making
behaviour safety? standards for that. It also
• How does this affects the consumer perception
perception of risk towards brand
influence food purchase
decisions?
• What action do
consumers take to relieve
their perceived food risk?
• What are the
implications for the food
industry?
1.3 ASCI ISSUES RELATING TO PATANJALI ADVERTISMENTS:

S. PRODUCT PRODUCT ISSUE RELATED TO LINK

NO. TYPE ASCI

1. Patanjali Kachi Ghani Natural food The Consumer Complaints http://www.busin

Mustard Oil product Council (CCC) found ess-
(GROCERY Patanjali’s claim for its standard.com/arti
AND Kachi Ghani Mustard Oil cle/companies/pat
STAPLES) that rival makers are selling anjali-ads-
mustard oil “adulterated unsubstantiated-
with oil made by solvent misleading-asci-
extraction process with 116070400850_1.
neurotoxin containing html
Hexane,” was not
http://www.zeebi
substantiated. The
advertisement makes a z.com/companies/
sweeping statement that a
majority of the products in news-10-reasons-
the market are adulterated why-patanjali-
with addition of cheap palm
oil. ads-got-pulled-
up-by-asci-yet-
again-4615

2. Patanjali Fruit Juice BEVERAGE -Patanjali failed to http://www.busin

S substantiate its claims
for Patanjali Fruit Juice,
where it had dubbed rival
drinks as “expensive juices
containing less pulp.”
- The ad was accompanied
by reference to the prices of
other branded juices and “by
implication unfairly
denigrates the entire
class/category of fruit
juices.”
3. Patanjali Dugdhamrut CATTLE Failed to substantiate its
FEED claims in the ad for cattle
feed Patanjali Dugdhamrut
as “other companies mix
three to four per cent urea
and other non-edible things
in their cattle feed.”
ess-
standard.com/arti
cle/companies/pat
anjali-ads-
unsubstantiated-
misleading-asci-
116070400850_1.
html
http://www.busin
ess-
standard.com/arti
cle/companies/pat
anjali-ads-
unsubstantiated-
misleading-asci-
 116070400850_1.
html

4. Patanjali Dant Kanti PERSONA Patanjali Dant Kanti said http://www.busin

L CARE misleading as it did not ess-
substantiate claims of it standard.com/arti
being effective against cle/companies/pat
pyorrhea, swelling and anjali-ads-
bleeding of gums, yellowing unsubstantiated-
of teeth, sensitivity and bad misleading-asci-
breath and as a natural 116070400850_1.
shield against germs. html
5. Patanjali Honey Natural
Dabur, filed a case against http://www.firstp
health care
product: the Patanjali honey’s ost.com/business/
nutrition
and advertising claims:“Purity ki in-honey-ad-war-
supplements double guarantee” to the with-patanjali-
ASCI. The ASCI has dabur-wins-
directed Patanjali to either round-one-as-
'withdraw or modify its asci-pulls-up-
advertisement'. baba-co-
3005330.html

6. Divya Mukta Vati Natural

The advertisement’s claim, http://www.zeebi
Ayurvedic
product “Conducting Trials On Over z.com/companies/
1 Cr People”, "It Gives news-10-reasons-
Strength To Pancreas & why-patanjali-
Naturally Controls ads-got-pulled-
Diabetes” and “It Also up-by-asci-yet-
Controls The Most again-4615
Dangerous Side Effects Of
Diabetes Like Neuropathy,
Nephropathy &
Retinopathy”, were not
substantiated and are
 misleading by exaggeration.

7. Patanjali Jeera Biscuit Natural food The advertisement’s claim,

http://www.zeebi
products “100 percent Atta,
(ready food) cholesterol free, low z.com/companies/
Sodium salt”, is not
substantiated and is news-10-reasons-
misleading by ambiguity as why-patanjali-
the advertiser did not
provide any quantitative ads-got-pulled-
declaration of the various up-by-asci-yet-
ingredients used in the
manufacturing of the again-4615
product.

Natural The advertisement’s claims,

8. Divya Swasari Pravahi
Ayurvedic “Their medicine has 0%
product side effect and 100%
effective” and “They have
used this product for more
than 20 years on 'LACS and
CRORES' of people” were
not substantiated and are
misleading by exaggeration.
http://www.zeebi
z.com/companies/
news-10-reasons-
why-patanjali-
ads-got-pulled-
up-by-asci-yet-
again-4615

9. Patanjali Kesh Kanti Natural

The advertisement’s claim, http://www.zeebi
Shikakai Hair Cleanser personal
care “Reduces hair fall, graying z.com/companies/
products
and itchy scalp” was not news-10-reasons-
substantiated and is why-patanjali-
misleading. ads-got-pulled-
up-by-asci-yet-
again-4615
 Natural
10. Patanjali Kesh Kanti The advertisement’s claim http://www.zeebi
personal
Natural Hair Cleanser care of alleviating, “hair fall, hair z.com/companies/
products
breakage and dryness” was news-10-reasons-
not substantiated and is why-patanjali-
misleading. ads-got-pulled-
up-by-asci-yet-
again-4615

Natural
11. Patanjali Kesh Kanti The advertisement’s claim, http://www.zeebi
personal
Reetha Hair Cleanser care “strengthens roots” was not z.com/companies/
products
substantiated and is news-10-reasons-
misleading. why-patanjali-
ads-got-pulled-
up-by-asci-yet-
again-4615

Natural
12. Divya Madhunashini The advertisement’s claim, http://www.zeebi
Ayurvedic
Vati product “Conducting Trials On Over z.com/companies/
1 Cr People”, "It Gives news-10-reasons-
Strength To Pancreas & why-patanjali-
Naturally Controls ads-got-pulled-
Diabetes” and “It Also up-by-asci-yet-
Controls The Most again-4615
Dangerous Side Effects Of
Diabetes Like Neuropathy,
Nephropathy &
Retinopathy”, were not
substantiated and are
misleading by exaggeration.
2. REFERENCES AND BIBLIOGRAPHY:
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wish-it-was-listed-says-clsa-report-2119556
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10000-crore-revenue/story-rco5EKHwY2MPZSUIiZ5iUP.html

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[33] http://www.mbaskool.com/fun-corner/top-brand-lists/16180-top-10-fmcg-companies-in-india-
2016.html?limitstart=0

[34] http://economictimes.indiatimes.com/industry/cons-products/fmcg/patanjali-becomes-3rd-largest-
fmcg-seller-at-future-retail/articleshow/53859974.cms

[35] https://yourstory.com/2017/01/c5edeadc03-the-epic-rise-of-patanjali-game-changer-in-indian-fmcg-
industry/

[36]http://www.indiatvnews.com/news/india-top-5-patanjali-products-behind-company-s-massive-
revenue-growth-326163

[37] http://www.ibef.org/industry/indian-consumer-market.aspx

[38] http://www.thehindu.com/news/cities/mumbai/business/fastmoving-ayurvedic-
goods/article8187124.ece