Patanjali 4

PATANJALI AYURVEDA LTD 2017
DECLARATION
We hereby declare that this Project Report titled “A DESCRIPTIVE STUDY OF BRAND
IMAGE AND CONSUMER PERCEPTION ON CONSUMER LOYALTY AND
PREFERENCE TOWARDS A BRAND: PATANJALI AYURVEDA LTD” for Research
Methodology submitted to THE BUSINESS SCHOOL is a record of original work done by
us under the guidance of Prof. Vinay Chauhan .
The information and data given in the report is authentic to the best of our knowledge. This
Project Report is not submitted to any other university or institution for the award of any
degree, diploma or fellowship or published before.
Radhika Gandotra (45-MBA-16)

Sahil Sharma (49-MBA-16)
Satya Dev Singh (52-MBA-16)
Vidhu Arora (68-MBA-16)
ACKNOWLEDGEMENT
It would be an immense pleasure for us on completion of our project report successfully. It

was not possible without expert guidance and supervision of Dr. Vinay Chauhan who have
been a constant source of inspiration, and who made it possible for us to undertake this
project within specific span of time.
We owe our gratitude to respondents of the survey, without their help we would have been
unable to complete our project. These people have really been kind enough to help us by
filling the questionnaire. We would especially like to acknowledge the gratefulness of our
parents, family, friends and all those who have directly or indirectly supported us during
conduction of project. Last, but not the least, we are very thankful to The Business School,
Jammu University.
However, we accept the sole responsibility for any possible error and would be extremely
grateful to the readers of this project if they bring such mistakes to our notice.
Radhika Gandotra (45-MBA-16)

Sahil Sharma (49-MBA-16)
Satya Dev Singh (52-MBA-16)
Vidhu Arora (68-MBA-16)
ABSTRACT
The objective of this research survey was to study the consumer behavior in
consuming/purchasing Patanjali products in Jammu region of Jammu and Kashmir, India.
The Indian herbal market is flooded with numerous well-known and recognised herbal
brands. Consumers of this millennium have become more concerned about their health and
also inclined to maintain quality of life which is reflected through the preferential
consumption of those products that protects the good state of their health as well as provide
maximum satisfaction. In pursuit of a healthy lifestyle Indian have become more inclined to
Ayurvedic or Herbal therapy as alternative healthcare for natural cure. 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 eatable and cosmetics. Consumer
satisfaction is derived when he compares the actual performance of the product with the
performance he expected out of the usage. Philip Kotler observed that is a person’s feelings
of pressure or disappointment resulting from product’s perceived performance in relation to
his or her expectations. If the perceived benefits turned out to be almost same as expected,
customer is highly satisfied and that is how the company achieves loyalty of the customer
towards the product. The data are predominantly compiled by online survey, based on the
questionnaire, with sample of 34 consumers at distinct places of Jammu. Pearson Correlation, t-
tests and ANOVA were run to analyze the data. Finding reveals that positive and significant relation
exists between Customer satisfaction, customer perception, Brand loyalty and Customer
preference. The sample size was too short. This study can be replicated with a large sample size in
similar sector or context. The impact of marketing communications and consumers’ knowledge
on brand loyalty can also be studied to enhance the study. Organizations ought to pay special
attention to the building of brand image, achieving customer satisfaction. And through this
they would also be successful in achieving brand loyalty.
The different books and magazines are also published of Patanjali Yogpeeth which are
concentrating on the health of the people as well as different aasanas and pranayama are
more effective as well as popular within the people all over the places in country.
CHAPTER 1
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 Keler‘s (2001) more recent conceptual framework,
consumers’ positive brand feelings lead to favorable responses towards a brand, such as
attitudinal attachment and behavioral loyalty.
1.1. OBJECTIVES OF STUDY
The study in hand is conducted keeping in view the following objectives :
 To study consumer perception and attitude towards Patanjali as a brand and its
products.
 To analyze the brand image of Patanjali and its products.
1
 To measure the consumers satisfaction level after using Patanjali products
 To measure loyalty intentions among existing consumers of Patanjali
1.2. DEFINITIONS OF TERMS
The following definitions are the major terms investigated in the present study.
1.2.1. BRAND IMAGE: Akaah, (1988) conclude that consumers are more likely to
purchase well-known brand products with positive brand image as a way to lower
purchase risks. This argument is also supported by Rao and Monroe, (1988) that a
brand with a more positive image does have the effect of lowering consumers’
product perception risks and increasing positive feedback from consumers.
Therefore, consumers generally believe they can make a satisfying purchase by
choosing well-known brands and also lower any purchase risks by doing so.
Keller, (1993) defines a brand image as an association or perception consumers
make based on their memory toward a product. Thus, brand image does not exist
in the technology, features or the actual product itself, but is something brought
out by promotions, advertisements, or users.
Kotler, (2000) contends that brand is a name, term, symbol, design or all the
above, and is used to distinguish one’s products and services from competitors.
For example, Nike adopts a check mark as its brand image, which creates a
positive effect indicating approval. The consumer’s brand image wil vary with his
or her experiences as filtered by the effects of selective perception, selective
distortion and selective retention.
1.2.2. BRAND LOYALTY: The most elaborate conceptual definition of brand loyalty
was presented by Jacoby et al. (1978). Jacoby et al. (1978) defined brand loyalty,
according to this definition, brand loyalty is: “The biased, behavioral response,
expressed over time, by some decision making unit, with respect to one or more
alternative brands out of set of such brand, anD is a function of psychological
process.
Rethinking Brands from the Customer “Point of View”: According to Jim, (2003)
many of the less successful experience brands are not meeting the challenge of a
largely time-starved audience. In most societies today, time has become more
desired than money. Increasingly, people value experiences more than things.
Consumers are realy looking for ways to make the most of everyday “lived”
experiences. So marketers need to constantly ask themselves, is our brand part of
the problem or part of the solution? A brand’s role in becoming a solution for its
audience can make it stand out for customers. In that sense, the meaning of brand
is its use. Profitable customers are born when a powerful brand promise is fulfilled
by a brand experience that exceeds expectations.
1.2.3. CONSUMER PREFERNCE: The preferences of the consumers are a positive

motivation, expressed by the affective compatibility towards a product, service or
trading form. Preferences can be triggered by: the features related to the material
substance of the goods (shape, size, print, taste, color, consistency, package, etc.);
elements referring to label, name, use instructions that accompany the product; the
statute granted to the person owning and using that particular product.
Theoreticians, at some point, had the tendency to limit the preference to the
concept of choice; however choice and preference are two radically different
entities: the first one is an action and the other one, a state of mind. Preferences
are the result of a long-term relationship between the brand and the consumer.
These deep connections created over the course of time, a strong emotion is
developed which lies on the basis of preferences, remaining present even in the
absence of the friendly symbol or of any other component feature. (Mirela-
Cristina Voicu, 2008)
1.2.4. CONSUMER PERCEPTION: Perception is a process by which individuals

organize and interpret their sensory impressions to give meaning to their
environment (Robbins & Judge, 2013). In marketing, perceptions are more
important than reality because perceptions affect consumers‟ actual behavior
(Kotler, Keller, Koshy, &Jha, 2014). Information processing model have four
major steps or stages. It starts with exposure followed by attention, interpretation
and lastly retention. The first three of these establish perception (Hawkins, Best,
Coney, &Mookerjee, 2007). All this takes place inside the mind or black box of
the consumers simultaneously, and it changes from person to person. Perception is
highly subjective and therefore easily distorted. Moreover, perception is the
meaning that an individual attributes to the incoming stimuli that gathered through
the five senses that are taste, smell, touch, hearing and sight.
1.2.5. CONSUMER SATISFACTION: Consumer satisfaction is one of the most

important issue concerning business organization. The marketing concept suggests
that a satisfied buyer will be more likely to repurchase again, or at least has the
intention of repurchasing again, than those who are dissatisfied. They consider
that customer satisfaction and retention are the most important long-term
objectives of firms. Reichheld and Sasser (1990) suggested that new buyers cost
more to serve than repeat customer, which means that repeat customers are
benefiting a firm’s cost structure. A firm’s primary strategic objectives are to
minimize customer regress and to maximize customer intention rates to buy, as
evidenced by the recent emphasis on customer relationship management. Thus,
previously satisfied buyers may help firms both reduce marketing costs, and
develop more stable levels of sales when a large number of satisfied buyers are
retained to purchase again in the future.. It is generally accepted that satisfaction is
a psychological state that results from consumer experiences after consumption
(Pleshko, &Heiens, 1996). According to a widely accepted conceptualization,
customer satisfaction is “a customer’s post-consumption evaluation of a product
or service” (Mittal &Frennea (2010, p. 3). This only “occurs if the perceived
performance of a product or service meets or exceeds customers’ prior
expectations” (Bearden & Teel, 1983; Oliver 1980, 2010).
CHAPTER II
LITERATURE REVIEW
This chapter provides the relevant literature and theoretical framework for thepresent
study.
2.1. RESEARCH BACKGROUND
This survey research has utilized both primary and secondary data and information from
different sources including Patanjali Ayurveda ltd., text books, magazines, journals and
websites about different variables of the study.
Various studies were consulted for collecting data. A study on Patanjali is also available
of consumer perception toward the brand. These studies include:
A study of consumer perception of herbal products in Bhopal: International Journal of

Management Studies ISSN (Print) 2249-0302 ISSN (Online) 2231-2528
AUTHORS: Md. Irshad Ali, Research Scholar, FPM, Indian Institute of Forest
Management, India and Manmohan Yadav, Professor, Indian Institute of Forest
Management, India
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.
Customer Perception towards Brand: A Study on ‘Patanjali’: Global Journal of

Management and Business Research: E-Marketing, Volume 15 Issue 9 Version 1.0 Year
2015, Type: Double Blind Peer Reviewed International Research Journal, Publisher:
Global Journals Inc. (USA), Online ISSN: 2249-4588 & Print ISSN: 0975-5853
AUTHOR: Miss Rupali Khanna, Chandigarh University, India
This paper carries out a study on what factorsPATANJALI.“Patanjali “- a brand set up by

PATANJALIAYURVEDA LTD is backed by robust preaching andpromotion of World
renowned Guru Swami Ramdevjiand an international authority on Ayurveda
andTraditional Herbs. The company is set up with anobjective to provide superior quality
of products at fairprice and to get their customers rid off the chronic diseases by
providing products which are organic andnatural. This concept of Herbal and Pure has
gainedmomentum in India and across the world since peoplenow a days are more
centered towards keepingthemselves near to Nature due to their commercializedroutines.
PATANJALI AYURVEDA LTD has more than100 different products in the catalogue
for Skin, Hair, Heart, Eyes and Kidney diseases. Patanjali’s recent tieup with Future
Group to enter into FMCG segmentthrough Big Bazaar Retail stores is another
bigadvantage towards the availability of Patanjali Productsnear to their consumers. The
Patanjali Products haverightly been placed at advantage by the very concept
of“Marketing through Spirituality”.
A study on consumer’s preference and perception towards Patanjali product:

International Journal of Multidisciplinary Research and Development Online ISSN: 2349-
4182, Print ISSN: 2349-5979, Volume 4; Issue 2; February 2017; Page No. 204-209
AUTHORS: S Anupriya, Assistant Professor, Department of Commerce, Hindustan

College of Arts and Science, Coimbatore, Tamil Nadu, India
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.
Customer preferences towards Patanjali products: A study on consumers with

reference to Mumbai Suburban district: IJARIIE-ISSN (O)-2395-4396, Vol-3 Issue-1
2017
AUTHORS: Dr (Ca) Seema Gosher,Asst.Prof : Dept of Accountancy, Smt.Mmp Shah

Womens Of Arts And Commerce, ,Matunga
The study has revealed that the people between the age group of 15-45 are the major
consumers of Patanjali products. It was observed that between age group 0f 15-25 years
are preferring cosmetics. The rest of the age groups prefer food related products. Hence
the mileage can be taken to drive the market as people are becoming more health
conscious by introducing healthy food products. It was observed in the study that noodles
were not repeatedly purchased from Patanjali. Respondents were showing less interest
towards detergents but were interested towards tooth paste. Price has become a significant
factor along with ayurvedic and herbal. However Patanjali is entering into much business
it is suggested that it focus on more cosmetic, health and food related products.
2.2. SCOPE OF THE STUDY: This research focused on respondents of Jammu. The
research provided fruitful information about Patanjali product line users and brand
perception they have about Patanjali.
2.3. LIMITATION OF THE STUDY: In this research, we examined factors responsible

for brand loyalty of the product to brand image of the Patanjali. The study focuses on
only the consumers in Jammu.The Jammu region was chosen due to easy accessibility
and profound understanding of the market.Another reason is that we had a thorough
understanding of the background information necessary to do the survey and could easily
use networking to obtain the sample. The sample size was small.
CHAPTER III
COMPANY PROFILE
3.1.PATANJALI
Patanjali Ayurved was co-founded by Acharya Balkrishna and Baba Ramdev to

propagate the science of ayurved. Today, some of the ayurvedic products produced by
PAL are a strong synergy between ancient wisdom and modern technology. Even though
Acharya Balkrishna is the primary stakeholder of the company (92% stake), the main
driving force behind Patanjali Ayurved is the charisma and philosophy of Baba Ramdev,
a Yoga guru and an ascetic of Indian origin.
It all started in the year 1995 when Baba Ramdev established Divya Yog Mandir Trust
with the help of Acharya Balkrishna and Acharya Karamveer under the guidance of
Swami Shankardev ji. The trust mission was to put Yoga and Ayurved on the world map.
With the aim of popularizing Yoga, Baba Ramdev started teaching Yoga through small
camps and shivirs. The breakthrough moment came in the year 2002 when Sanskar, a
spiritual channel in Hindi, signed Baba Ramdev for its morning Yoga program. The
program was a hit. Next year in 2003, the rival channel of Sanskar, Aastha signed up
Baba Ramdev for its 5 am Yoga program titled “Divya Yog”. This program made Baba
Ramdev a household name across the country. This also gave a big boost to Baba
Ramdev's Yoga Shivirs/Camps.A typical Yoga Shivir of Baba Ramdev comprises of
Yoga and Pranayam postures with Baba Ramdev explaining the benefits of each of those
postures, the benefits of embracing Ayurved, the testimonials of people who got cured
from terminal illnesses by practicing yoga and pranayama, singing patriotic songs and
above all Baba Ramdev explaining ill effects of the MNCs and their products on the
Indian economy and how they are looting India and exploiting Indian populace. It is
estimated that around 70 million people have been touched by Baba Ramdev through his
Yoga Shivirs and experts assume this number to rise to 200 million, going forward. The
live telecast of Yoga Shivirs was instrumental in building the Brand Patanjali, Yoga,
Ayurved and above all Baba Ramdev. Both Baba Ramdev and Acharya Balkrishna were
working with a single minded focus to restore the original place of Yoga and Ayurved as
described in the Indian scriptures and ethos.
In 2006, Baba Ramdev and Acharya Balkrishna established “Patanjali Yogpeeth Trust”.
A landmark organization fostering the cause of Yoga, Pranayam and Ayurved. This
further strengthened the brand Patanjali. Also Patanjali Yogpeeth Trust is considered to
be an organization which laid the foundation for Patanjali Ayurved Ltd to grow at a rapid
pace. The basic objective of Patanjali Yogpeeth Trust is to spread the awareness of Yoga,
help the economically weak section of society by providing them free treatment of
diseases and to perform cutting edge Research and Development in Ayurved. Patanjali
Yogpeeth Trust is located on Delhi-Haridwar highway in a sprawling campus of 100
acres. It employs around 200 doctors and has a huge treatment facility through which
ayurvedic treatment is provided to the economically weaker sections of the society. It is
now a multinational organization with its branch offices located in countries like US, UK,
Canada, and Nepal etc. Through Patanjali Yogpeeth Trust Baba Ramdev has touched
millions of lives till date. Baba Ramdev and Acharya Balkrishna have established number
of institutions since they established Divya Mandir Yog Trust. These institutions have
also contributed to the success of Patanjali Ayurved Ltd by providing raw material,
manpower, technological knowhow etc. Some of these institutions include:
Patanjali Yogpeeth Trust
Patanjali Ayurved College
Patanjali Chikitsalaya
Yoga Gram
Goshala
Patanjali Herbal Botanical Garden
Organic Agriculture Farm
Patanjali Food and Herbal Park Ltd
In 2006 Baba Ramdev and Acharya Balkrishna established Patanjali Ayurved to provide
products and other ayurvedic medicines to its patients. In 2012 the duo decided to unlock
the potential of Patanjali Ayurved by expanding it into the mainstream Indian retail sector
3.2. PRODUCT LINE AND PORTFOLIO OF PATANJALI YOGPEETH

Products of patanjaliyogpeeth are as follows:
DivyaAmlaChurna for Eyes, Digestion and General Health
DivyaArogyavardhaniVati
DivyaArshakalpVati for Piles
DivyaAshmariharRas for Kidney Stones
DivyaAshwagandhaChurna for Stress, Fatigue and General Health
DivyaChandraprabhaVati for Urinary Disease
DivyaChurna for Constipation
DivyaDantManjan Tooth Powder
DivyaGasharChurna for Removal of Gas
DivyaGiloy Sat for Swine flu, Bird flu, Pyrexia of unknown origin (fever)
DivyaHridayamritaVat i for Heart Disease
DivyaKantiLep for Increasing Skin Splendour
DivyaKayakalp Tail Oil for Skin Problems, Cracks and Burns
DivyaKayakalpVati for Skin Disease, Acne and Pimples
DivyaKesh Tail Hair Oil for Hair Loss, Dandruff and Headache
DivyaMadhuNashiniVati for Diabetes
DivyaMadhukalpVati for Diabetes
DivyaMedhaKwath for Headache and Memory Enhancement
DivyaMedhaVati for Memory Loss and Improving Intelligence
DivyaMedoharVati for Weight Loss
DivyaMuktaVati for High Blood Pressure
DivyaPeya Herbal Tea
DivyaPidantakRas for Joint Pain and Arthritis
DivyaPidantak Tail Massage Oil for Joint Pain and Arthritis
DivyaPunarnavadiMandur for Kidney Problems and Anemia
DivyaSanjivaniVati for Cold, Fever and Flu
DivyaShilajeetRasayanVati for Impotency
DivyaShilajeet Sat for Gout and Weak Immune System
DivyaSinghnaadGuggulu for Rheumatism
DivyaStriRasayanVati for Menstruation
DivyaSwasariRas for Lung Problems, Bronchitis and Asthma
DivyaTriphalaChurna for Rejuvination and Detoxification
DivyaTriphalaGuggulu for Joint Pain, Piles and Weight Loss
DivyaUdaramritaVati for Digestion and Stomache Problems
DivyaUdarkalpChurna for Indigestion and Constipation
DivyaVatariChurna for Arthritis
DivyaYauvanamritaVati for Weak Bodies and Impotency

DivyaYograjGuggulu for Joint Pain
3.3. PRODUCT MIX OF PATANJALI YOGPEETH

Swami Ramdev's Divya Medicines are 100% natural, made from potent herbs such as the
ashtavarga healing plants of the Himalayas. They have proven extremely effective for
combating all forms of sickness and disease. Along with these medicines, Swamiji
recommends patients to also adopt the practice of Pranayama, which will strengthen the
immune system and quicken the healing process.
AbhrakBhasm - Divya
AjamodadiChoorna - Divya
Aloevera Gel
Aloe Vera Juice - Patanjali 1 Lt. or Aloe Vera 30 Capsules
AmlaChurna - Divya (for Eyes, Digestion and General Health)
AmlkiRasayan - Divya
AmritRasayan - Divya(for Brain, Eyes, Strength and over all nourishment)
Anti Wrinkle Cream - Patanjali Tejus
ArjunaKvath - Divya(for Coronary Artery Disease)
ArshakalpVati - Divya(for Piles)40 grams
ArshkalpVati - Divya(for Piles) 20 Grams
AshmariharKvath - Divya / VrikkdoshHarKwath - Divya
AshmariharRas - Divya
Ashvagandha Capsule - Patanjali
AshvagandhaChurna - Divya (for Stress, Fatigue and General Health)
Ashvashila Capsule - Patanjali
AvipattikarChoorna - Divya
AwalaChoorna - Divya
Rasayana 100 gm
Badam Pak - Divya
Amla / Awala Juice 1 Liter - Patanjali (Juice of EmblicaOfficinalis) / DivyaAmalki
Awala - Divya (Amla) Murabba - Divya(Dry Spicy)
Awala - Divya (Amla) Murabba - Divya (Dry Sweetened)
Awala / AmlaMurabba Wet - Divya
Badam Rogan - Divya
Bael Candy - Divya
BaelMurabba - Divya
Balm - Patanjali
Bang Bhasma 5gm - Divya
BavaciChoorna - Divya(for Leucoderma)

Beauty Cream 50 gm - Patanjali Tejus
BilwadiChurna - Divya
Body Lotion - Patanjali Tejus
Body Massage Oil 100ml - Patanjali
ChatpataChoorna
ChandraprabhaVati - Divya (for Urinary Disease & diabetes)
Churna - Divya (for Constipation)
Chyawanprash - Divya with Ashtavarga Healing Plants (1 Kilogram)
Crack Heal Cream - Patanjali
Daliya : Patanjali ArogyaDaliya
DantManjan - Divya (Tooth Powder)
DantKanti - Patanjali (Tooth Paste)
DivyaDhara
Drishti Eye Drop - Patanjali
GangadharChoorna - Divya (for Diarrhoea , Sprue Syndrome, Ama)
KachanarGuggulu - Divya GasharChurna - Divya (for Removal of Gas)
GiloyGhanVati - Patanjali 40gm
GodantiBhasm - Divya (for Migraine, Chronic Headache, Depression & Hernia)
GokshuradiGuggulu - Divya (for Chronic Renal Failure)
GulabJal - Divya
Honey - Divya (Pure Himalayan Honey)
HridayamritaVati - Divya (for Heart Disease) 20 Grams
HridayamritaVati - Divya (for Heart Disease) 40 Grams
KaisaraGuggulu - Divya (Psoriasis & Eczema)
KantiLep - Divya (for Increasing Skin Splendour)
KayakalpKwath - Divya (for Skin Problems)
Kayakalp Tail - Divya (for Skin Problems, Cracks and Burns)
KayakalpVati - Divya (for Skin Disease, Acne and Pimples) 20 Grams
KayakalpVati - Divya (for Skin Disease, Acne and Pimples) 40 Grams
Kesh Tail - Divya (Hair Oil for Hair Loss, Dandruff and Headache)
LavanBhaskarChurna - Divya
Lauki Juice - Patanjali
Lauki - Amla Juice - Patanjali
MadhuNashiniVati - Divya (for Diabeties)
MadhukalpVati - Divya (for Diabetes)
MahaYograjaGuggulu - Divya (for Osteoporosis)
MedhaKwath - Divya(for Headache and Memory Enhancement)
MedhaVati - Divya (for Memory Loss and Improving Intelligence) 40 grams

MedoharVati - Divya (for Weight Loss)
MuktaPishti - Divya
MuktaVati - Divya (for High Blood Pressure)
Mukta-shuktiBhasm - Divya
OjasMultaniMitti - Patanjali
NimbGhanVati - Patanjali 60 Gr.
PanchakolChoorna - Divya
Peedantak Cream 50 gm - Patanjali
Peya (Herbal Tea) - Divya 100 Grams
Peya (Herbal Tea) - Divya 300 Grams
PidantakKwath - Divya (for Joint Pain and Arthritis)
PidantakRas - Divya (for for Joint Pain and Arthritis)
Pidantak Tail - Divya (Massage Oil for Joint Pain and Arthritis)
Praval (branch) Pisthi- Divya
PravalPanchamrit- Divya
PunarnavadiMandur - Divya (for Kidney Problems and Anemia)
SanjivaniVati - Divya (for Cold, Fever and Flu)
SaptavimshatiGuggulu - Divya
SarvakalpKwath - Divya (for Liver Problems and Jaundice)
Shadbindu Tail - Divya
ShatavarChoorna - Patanjali
Shampoo - Patanjali
ShankhBhasm - Divya
Shilajit Capsule - Patanjali
ShilajeetRasayanVati - Divya (for Impotency)
Shilajeet Sat - Divya (for Gout and Weak Immune System)
Shilajeet Sat - Divya (for Gout and Weak Immune System) 50 gm
SinghnadGuggulu - Divya
SitopaladiChoorna - Divya
Soap KantiAloevera Body Cleanser - Patanjali
Soap GomutraKanti - Body Cleanser - Patanjali
Soap Somya - Body Cleanser - Patanjali
Soap OjasAquafresh - Body Cleanser - Patanjali
Soap OjasAquafresh - Mogra Body Cleanser - Patanjali
Soap Patanjali SomyaHaldiChandan Body Cleanser - Patanjali
StriRasayanVati - Divya
SwasariRas - Divya (for Lung Problems, Bronchitis and Asthma)
TejusTailum For Women

(Tooth Powder) DivyaDantManjan
(Tooth Paste) DantKanti Patanjali
TrayodashangGugguluDivya
TrikutaChoornaDivya
TriphalaChurnaDivya (for Rejuvination and Detoxification)
TriphalaGugguluDivya (for Joint Pain, Piles and Weight Loss)
TulsiGhanVati Patanjali 40 Gr.
UdaramritaVatiDivya (for Digestion and Stomache Problems)
UdarkalpChurnaDivya (for Indigestion and Constipation)
VatariChurnaDivya (for Arthritis)
YauvanamritaVatiDivya (for Weak Bodies and Impotency)
YograjGugguluDivya (for Joint Pain) 20 Grams
YograjGugguluDivya (for Joint Pain) 40 grams
Wheat Grass Powder Organic 1 Month Doses
ChatpataChoorna
For Gastric troubles and taste
DivyaJeeraGoli
DivyaAnardaanaGoli
DivyaChatpataChuara
DivyaNimbuVati
3.4. PERFORMANCE ANALYSIS OF PATANJALI AYURVED

The Company aims at providing natural ingredients and herbal cosmetic solutions to
consumers at affordable costs. Clocking revenues of Rs 5000 Crore in FY 2015-16 and
Patanjali could reach a net turnover of Rs 20,000 Crore by FY20: IIFL [2], Patanjali has
already established itself as a major player in the FMCG industry.
3.4.1 Revenue Trend
Revenue composition
healthcare
food and beverages
cosmetics and homecare
Thus it is clear that Patanjali Ayurved has consistently been increasing its market share in the
The breakdown of its revenues on basis of product type is given below. The revenue trends for
the company for the past few years have been provided below.[3]
Revenue trend of Patanjali
Patanjali has thus grown exponentially in terms of revenue in the past few years with a combined
annual growth rate (CAGR) of 64.5 % compared to the industry average of 17.5%, riding on
innovation and brand visibility.
3.4.2 Net Income (EBITDA) Trend

Patanjali focuses on a low margin high revenue model. Yet its net profit before tax (EBITDA)
has also increased with its revenues due to cost cutting measures, low advertisement costs and
automation of manufacturing processes
EBITDA Trend
The growth of Patanjali is slated to continue reaching revenues of Rs5000 Crore in FY 2015-16
and 7000 Crore in FY 2016-17.
3.4.3. Market share Trend
The market share of Patanjali Ayurved over the past few fiscals can be calculated by taking the
average CAGR of overall Indian FMCG business to be 17.5%. Thus the size of the market for
previous years can be calculated.
Market Share of Patanjali Ayurved
Thus it is clear that Patanjali Ayurved has consistently been increasing its market share in the
Indian FMCG space. The steepness of the curve indicates that it is on way to further solidify its
position and create a dent in the market share of competitors such as HUL and P&G etc.
3.4.4. Future Revenue Projection

Patanjali is projected to continue to grow at its current rate of 64.5% annually riding on increased
product portfolio and increase in distributor network in urban and rural areas. In this growth it is
expected to reach revenues of 5000 Crore by 2016, 7500 crore by 2017 and 12500 Crore by
2018. This would propel Patanjali to the 2nd spot among all FMCG companies (assuming that all
other major companies grow at the Industry average rate of 17.5%) in the country in terms of
Revenues, behind only HUL. [11]
3.4. BUSINESS PRINCIPLE/USP ANALYSIS OF PATANJALI AYURVED

Patanjali though incorporated under the Companies Act, does not follow regular corporate
ideologies. Rather than the top-line, the company focuses on revenues and customer base. The
products of Patanjali have found widespread acceptance among consumers for three broad
reasons [12]:
(1) Belief of the consumers on the products‟ high quality in terms of ingredients as wel as
health benefits.
(2) Products from Patanjali are available at around 15-30% cheaper costs than similar products
from peer companies.
(3) Marketing the products on the lines of Made in India.
Consumer Belief: The Indian FMCG market especially the food and beverages segment has
recently been flooded by adulterated goods which have severe detrimental effects on health of
the consumers. Patanjali Ayurved, led by Baba Ramdev has since its inception stressed upon the
pure and adulteration free nature of their products. [13] This has bought them consumers looking
for quality products with no detrimental effects on health. Further, the company’s insistence on
using good quality fresh ingredients is also getting them new buyers.
Cheaper Costs: Patanjali’s relatively newer production line has state of the art manufacturing
and packaging facilities which allow it to be highly competitive in terms of production costs.
Further, it works on low margin, high volume model and keeps advertisement costs to bare
minimum. The products are thus available at a much cheaper costs as compared to its peers. A
comparison of prices of similar goods is given below.
Made in India, for India Baba Ramdev has continuously pitched Patanjali as a ‘swadeshi’
alternative to al the MNC products “which help source Indians‟ money abroad”. The pitch has
resonated wel among many Indians who now prefer to buy Patanjali’s products rater than other
companies.
3.5 MARKETING ANALYSIS OF PATANJALI AYURVED

Marketing is used as a tool to generate traction for any given product, commodity or service.
Though Patanjali has traditionally shied away from mainstream advertisements, it has utilized
alternative forms of marketing quiet effectively to bolster its presence in the market.
 Word of mouth publicity: According to a study by Forbes, when a company makes a
claim, its believability is merely between 20 – 49%. But when real people speak
favorably about a brand – the believability jumps to 70%; when friends speak about a
brand’s goodness the believability jumps to 90%. Patanjal’s products have been marketed
by its customers for their benefits and advantages over other competition.
 Publicity in Yoga Camps: Baba Ramdev consistently organizes yoga camps across the
country. These have been estimated to attract around 70 million people till date. Further
many times this number also witnesses these shows on television. Many Patanjali
products are marketed by Baba Ramdev in these yoga camps along with details of their
benefits and usage. This has proved to be an excellent marketing tool.
 Mainstream Advertisement: The Company has lately shifted to conventional
advertisements on national broadcasting networks. This further pushes the company’s
products in the market.
3.6 DISTRIBUTOR ANALYSIS

A good and wide distribution network plays a vital role in the sale of any company’s’ products,
especially in a country as large as India. Patanjali is relatively new in the Indian FMCG space
and thus has a comparatively smaller distributor and retailer base as compared to its peers.
Currently Patanjali‟s products are available through several channels:
1. Exclusive Retail stores: Around 15000 across the country. [15]
2. Patanjali Chikitsalayaand ArogyaKendra : 3000 across the country.[16]
3. Retail Chains: Patanjali products are available at Big Bazar, reliance Fresh, Big Basket etc.
4. Future Group outlets: Patanjali has a tie-up with Future group to retail products in 245 cities
and towns of the country.[17]
5. Online retail: Patanjali products are available at patanjaliayurved.net as well as other e-
commerce sites such as Flipkart, Amazon etc.
6. Mobile Distribution: the company maintains a fleet of tempos for selling its products in rural
areas.
As the demand of Patanjal’s products is increasing across the country, the company is making
efforts to make Patanjali products available at general stores across the country.
3.7 EXPORT ANALYSIS

Patanjali has now made a name for itself on foreign soil as well for the quality of its products.
This has culminated in its expanding export reach across the world. Patanjali currently exports its
products to most major countries by partnership with other companies. It aims to make India a
sourcing hub for its product exports oversees. Around 1000 crore rupees have been earmarked
for development of a manufacturing base in South India to bolster its export capabilities. It will
start tapping export markets USA, Canada, UK, Mauritius in 2016-17 Fiscal with its new
manufacturing facilities expected to be functional by that time.[18] Currently the exports of
Patanjali ayurved are limited with products being sold oversees in partnership with several other
companies.
USA: Available online through https://www.patanjaliayurved.net/.[19]
Canada: Available online through . https://www.patanjaliayurved.net/
Thailand: Available in partnership with Singh Group of Companies [20]
3.8 FUTURE STRATEGY

Patanjali Ayurved has grown strongly in the past decade. But to sustain its momentum, the
company would have to tick a few boxes:
 Rural Push: Rural market accounts for over 70% of India’s 1.21 billion population but
contributes only 9% in the FMCG Industry. Thus increasing distribution and support
infrastructure in rural areas is a key area where the it needs to focus.
 Increase in Research and Development: FMCG brands would need to focus on R&D and
innovation as a means of growth. In this age of extreme competition, companies that
continue to do well would be the ones that have a culture that promotes using customer
insights to create either the next generation of products or in some cases, new product
categories. Thus Patanjali would have to invest a lot of capital and effort into significant
research and development of newer product categories.
 Focus on Exports: Patanjali has largely focused to cater to the domestic market. Exports
thus remain to be a very low fraction of the total sales. It is thus imperative to focus on
exporting products using Indian operations as sourcing hub for the same.
CHAPTER IV
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.
CHAPTER IV
DATA ANALYSIS
5.1 INTRODUCTION
Data Analysis is the process of systematically applying statistical and/or logical techniques to
describe and illustrate, condense and recap, and evaluate data. Various analytic procedures
“provide a way of drawing inductive inferences from data and distinguishing the signal (the
phenomenon of interest) from the noise (statistical fluctuations) present in the data”. The form of
the analysis is determined by the specific qualitative approach taken (field study, ethnography
content analysis, oral history, biography, unobtrusive research) and the form of the data (field
notes, documents, audiotape, videotape).
An essential component of ensuring data integrity is the accurate and appropriate analysis of
research findings. Integrity issues are just as relevant to analysis of non-statistical data as well.
5.2 DATA ANALYSIS TYPES
Research methods are split broadly into quantitative and qualitative methods. Which you choose
will depend on your research questions, your underlying philosophy of research, and your
preferences and skills.
5.2.1 QUANTITATIVE DATA ANALYSIS
The data produced are always numerical, and they are analysed using mathematical and
statistical methods. If there are no numbers involved, then it’s not quantitative research. Some
phenomena obviously lend themselves to quantitative analysis because they are already available
as numbers. However, even phenomena that are not obviously numerical in nature can be
examined using quantitative methods.
The development of Likert scales and similar techniques mean that most phenomena can be
studied using quantitative techniques. This is particularly useful if you are in an environment
where numbers are highly valued and numerical data is considered the ‘gold standard’.
However, it is important to note that quantitative methods are not necessarily the most suitable
methods for investigation. They are unlikely to be very helpful when you want to understand the
detailed reasons for particular behaviour in depth.
There are a wide range of statistical techniques available to analyse quantitative data, from
simple graphs to show the data through tests of correlations between two or more items, to
statistical significance. Other techniques include cluster analysis, useful for identifying
relationships between groups of subjects where there is no obvious hypothesis, and hypothesis
testing, to identify whether there are genuine differences between groups.
5.2.2 QUALITATIVE DATA ANALYSIS
Qualitative research is any which does not involve numbers or numerical data. It often involves
words or language, but may also use pictures or photographs and observations.
Almost any phenomenon can be examined in a qualitative way, and it is often the preferred
method of investigation in the UK and the rest of Europe; US studies tend to use quantitative
methods, although this distinction is by no means absolute. Qualitative analysis results in rich
data that gives an in-depth picture and it is particularly useful for exploring how and why things
have happened.
There are, therefore, a wide variety of methods for analysing them, many of which involve
structuring and coding the data into groups and themes. There are also a variety of computer
packages to support qualitative data analysis. The best way to work out which ones are right for
your research is to discuss it with academic colleagues and your supervisor.
5.2.3 EXCEL FOR DATA ANALYSIS

Once you have explored your data thoroughly, aided by visualisation and description techniques,
you will need to identify what formal statistical analysis techniques (if any) you require to
investigate the data further and to draw general conclusions from them. A very large number of
statistical techniques have been developed to handle many different types of data and
relationships between them, and it can be difficult and confusing to choose the correct techniques
for a given set of data and the requirements of your investigation.
Users sometimes drift into statistical inference, which includes standard errors, confidence limits, t-
tests and chi-square tests, etc, without realising they are making a big step. In general, we would
recommend that you seek advice from a competent statistician as to the most appropriate approach to
formal analysis of your data. Modern statistical packages (such as Minitab, SPSS, SAS etc)
support many of the standard statistical methods, and are generally easy to use and reliable. They all
accept data that are held in Excel worksheets, provided they are in list format. Many have a similar
interface and type of dialogue that will be straightforward for Excel users. Since Excel is designed
as a spreadsheet package rather than a statistics package, its standard facilities for statistical analysis
are very limited. The Analysis Toolpak (Tools => Data Analysis) contains the following basic
analysis facilities:
• T-tests for comparing sample means
• Z-test for comparing sample means where the population variance(s) are known.
• F-test for comparing variances of two samples.
• Correlation
• Covariance
• Analysis of Variance (ANOVA) with one or two factors.
• Elementary Regression.
5.3 PROFILE OF RESPONDENTS
Total
# Description Percentage
Responses
Gender
1  Male 18 52.94%
 Female 16 47.05%
Marital Status
 Married 16 47.05%
2
 Unmarried 16 47.05%
 Separated 2 5.88%
Age
 Below 35 years 14 41.17%
3
 35-45 years 12 35.29%
 Above 45 years 8 23.52%
Educational Level 0 0.00%

 Illiterate 2 5.88%
4
 Secondary 17 50%
 Graduate 15 44.11%
 Others
Profession
 Retired 6 17.64%
 Private Sector 3 8.82%
5
 Government Sector 9 26.47%
 Student 11 32.35%
 Others 5 14.70%
1. GENDER
Gender
47% Male
53% Female
2. MARITAL STATUS
seprated Marital status

6%
married
47%
unmarried
47%
3. AGE
Age
Below 35
24% years
41% 35-45 years
35% Above 45
years
4. QUALIFICATION
6% Qualification
0%
Illiterate
44% Secondary
50% Graduate
Others
1. PROFESSION
15
10
0
Retired Private Govt Student Others
sector Sector
INTERPRETATION: The demographic analysis was performed in order to capture some

preliminary insights to the consumers’ dataset. It has been found that the sample was evenly
distributed by Gender i.e. 53% of the data were Males and 47% were Females. In terms of age
category, 41% were below 35 years, 35% were between 35-45 years, 24% were between Above
45 years. It can be observed that the majority number of respondents were with the range of
below 35 years and above while the least number of the sampled consumers was within the range
of above 45 years.
By education level the least number of respondents are illiterate and secondary level of education
while the majority of the respondents had graduate degree. Sampled consumers was unmarried
was 47% while 47% respondents were married and 6% are Seperated. Convincingly, the sample
distribution by gender is also evenly distributed. According to profession, majority is of students
with highest, then are Govt. sector, Retired , Private Sector and Other Professions.
5.4 QUESTIONARRIE ANALYSIS
A. Consumer Perception Towards Patanjali
Standard
# Question Total Responses Mean
deviation
Do you think Patanjali offers 5.823 0.869
1 34
High quality Products?
Do you think Patanjali have

2 34 6.235 0.818
Traditional and herbal Products?
Do you think Patanjali offers

3 34 5.85 0.925
Cheaper products?
Patanjali offers product at

4 34 5.9411 0.8859
affordable prices?
B. Analyzing Brand Image of Patanjali and its products
Total Standard
# Question Mean
Responses deviation
Is Patanjali being used by older
1 34 6.205 0.6866
people in your family?
Is Patanjali being used by younger
2 34 5.676 0.9445
people in your family?
3 Do you think that Patanjali is a 34 6.058 0.776
modern innovative brand ?
I Buy its products because it’s an
4 34 6.147 0.7020
Indian herbal brand
I Buy its products not because of
5 Spiritualism associated with the 34 5.911 0.830
brand?
C. Loyalty Intentions among Consumers of Patanjali
Total Standard
# Question Mean
Responses deviation
I intend to buy products of this brand in the 5.614

1 34 1.12
near future
2 I intend to buy other products of this brand 34 5.588 1.07
I consider this brand my first choice in its

3 34 5.441 1.18
different product categories
I say positive things about this brand to

4 34 5.794 1.03
other people
I have or would recommend this brand to

5 34 5.5 1.16
someone who seeks my advice
I don’t bother looking at alternative

6 34 5.147 1.23
brands; this brand is good enough for me
If this brand were to raise their prices, I

7 34 4.617 1.614
would continue to buy their products
If this brand was NOT available, it would

8 34 4.411 1.653
make huge difference to me
D. Consumer’s Satisfaction level and Experiences of using this product
Total Standard
# Question Mean
Responses deviation
1 How do you rate the Patanjali Products?
34 5.267 0.99
Do you think it has high Product
2 34 5.14 0.98
efficiency?
Are you satisfied with the behavior of
3 34 5.05 1.15
the Patanjali people?
The overall quality of the products is
4 34 5.35 1.09
excellent
Are you satisfied with the Patanjali
5 34 5.411 1.123
Products?
5.5 HYPOTHESIS TEST
1. CORRELATION ANALYSIS
H1: Relationship between Loyalty Intentions and Consumer Perception
Consumer
Loyalty intention perception
Loyalty intention 1
Consumer
perception 0.729835 1
INTERPRETATION: Since 0.729835 is closer to +1. There is significant correlation between

Loyalty Intentions and Consumer Perception
.
H2: Relationship between Brand Image and Consumer Perception
Consumer
Brand image perception
Brand image 1
Consumer perception 0.7594388 1
INTERPRETATION: Since 0.7594388 is closer to +1. There is a significant correlation

between Brand Image and Consumer Perception.
H3: Relationship between Loyalty Intentions, Consumer Perception, Consumer

satisfaction and Brand Image
Loyalty Consumer
Consumer satisfaction intentions perception Brand Image
Consumer satisfaction 1
Loyalty intentions 0.604458899 1
Consumer perception 0.596733722 0.729835943 1
Brand Image 0.616193966 0.661968009 0.759438814 1
INTERPRETATION: Since highest value is 0.7594388. This depicts a positive correlation

between brand image and consumer perception .
There is more significant correlation between brand image and consumer perception than
between loyalty intention and consumer perception , consumer satisfaction and loyalty intention
or loyalty intention and brand image.
2. T-TEST ANALYSIS
HYPOTHESIS
H4: There is no significant difference between Gender and Consumer Satisfaction
t- Test: Two-Sample Assuming Unequal Variances
Variable Variable
1 2
Mean 5.177778 5.2
Variance 0.573595 1.093333
Observations 18 16
Hypothesized Mean Difference 0
Df 27
t Stat -0.0702
P(T<=t) one-tail 0.472275
t Critical one-tail 1.703288
P(T<=t) two-tail 0.94455
t Critical two-tail 2.05183
INTERPRETATION: T-test for two independent samples is used :
• t-stat two- tail = -0.070
• t critical two-tail = 2.051
As , t-stat < t critical two tail, therefore null hypothesis accepted. The observed difference
between the sample means (5.1777- 5.2) is not convincing enough to say that there is significant
difference between gender and Consumer Satisfaction.
H5: There is a significant difference between Gender and Loyalty Intentions.
Variable Variable
1 2
Mean 5.298611 5.226563
Variance 0.834814 1.237956
Observations 18 16
Hypothesized Mean
Difference 0
Df 29
t Stat 0.20481
• t-stat two- tail = 0.20481
As, t stat < t critical, hypothesis is accepted. The observed difference between the sample means
(5.29-5.22) is convincing. Hence, There is a significant difference between Gender and Loyalty
Intentions.
H6: There is no significant difference between Consumer Perception and Gender
t- Test: Two-Sample Assuming Equal Variances
Variable 1 Variable2
Mean 5.92222222 5.953125
Variance 0.587418301 0.476823
Observations 18 16
Pooled Variance 0.535576714
Hypothesized Mean
Difference 0
Df 32
t Stat 0.075947965
P(T<=t) one-tail 0.469966671
P(T<=t) two-tail 0.939933342
• t-stat two- tail = 0.075
As, t stat < t critical, hypothesis is accepted. The observed difference between the sample means (5.92-
5,95) is not convincing to say that there is significant difference between Consumer Perception and
Gender.
H7: There is a no significant difference between Brand Image and Gender
Variable Variable
1 2
Mean 5.966667 6.0375
Variance 0.335294 0.235833
Observations 18 16
Hypothesized Mean
Difference 0
Df 32
t Stat -0.38777
• t-stat two- tail = -0.387
As, t stat < t critical, hypothesis is accepted.

3. ANOVA ANALYSIS
HYPOTHESIS
H8: There will not be positive relationship between consumer perception and age
Anova: Single Factor
SUMMARY
Groups Count Sum Average Variance
below 35 14 82 5.857143 0.641484
35-45 12 71 5.916667 0.526515
above 45 8 43.3125 5.414063 0.571091
ANOVA
Source of
Variation SS df MS F P-value F crit
Between Groups 1.377463 2 0.688732 1.177735 0.321378 3.304817
Within Groups 18.12859 31 0.584793
Total 19.50605 33
INTERPRETATION: if F < F crit, we accept the null hypothesis. This is the case 1.17<3.30.
Therefore, we accept the null hypothesis.
H8: Age will not be positively associated with brand image.
SUMMARY
below 35 years 14 84.2 6.014286 0.452088
35-45 years 12 69.6 5.8 0.130909
above 45 years 8 50.2 6.275 0.125
ANOVA
Source of SS df MS F P-value F crit
Variation
Between Groups 1.087857 2 0.543929 2.058288 0.144766 3.304817
Within Groups 8.192143 31 0.264263
Total 9.28 33
INTERPRETATION: if F < F crit, we accept the null hypothesis. This is the case 2.05< 3.30.
Therefore, we accept the null hypothesis. There is no significant difference between age and
brand image.
H9: Age will not be positively associated with consumer loyalty.
SUMMARY
below 35 years 14 71.125 5.080357 1.299536
35-45 12 61.125 5.09375 0.673651
above 45 8 47.75 5.96875 0.262277
ANOVA
Source of
Between Groups 4.762507 2 2.381253 2.823973 0.074703 3.304817
Within Groups 26.14007 31 0.843228
Total 30.90257 33
INTERPRETATION: if F < F crit, we accept the null hypothesis. This is the case 2.8<3.30
There is no significant difference between age and loyalty intentions.
H10: Marital status will not be positively associated with consumer satisfaction
SUMMARY
Column 1 16 84.6 5.2875 0.815833
Column 2 16 80.4 5.025 0.842
Column 3 2 11.4 5.7 0.18
ANOVA
Source of
Between Groups 1.107794 2 0.553897 0.68553 0.511298 3.304817
Within Groups 25.0475 31 0.807984
Total 26.15529 33
INTERPRETATION: if F < F crit, we accept the null hypothesis. This is the case 0.68< 3.30 .
H11: There will not be positive relationship between brand image, Consumer
satisfaction consumer perception and loyalty intentions.
SUMMARY
Column 1 34 176.4 5.188235 0.792585
Column 2 34 179 5.264706 0.994095
Column 3 34 202.75 5.963235 0.519441
Column 4 34 204 6 0.281212
ANOVA
Source of Variation SS df MS F P-value F crit
5.18E-
Between Groups 19.51079 3 6.503597 10.05452 06 2.673218
Within Groups 85.38199 132 0.646833
Total 104.8928 135
INTERPRETATION: if F > F crit, we reject the null hypothesis. This is the case 10.05> 2.67
Therefore, we reject the null hypothesis. There is significant difference between loyalty
intentions, consumer satisfaction, consumer perceptions and brand image.
H12: Profession will not be positively associated with consumer satisfaction.
SUMMARY
Column 1 6 31 5.166667 1.190667
Column 2 3 15.4 5.133333 0.253333
Column 3 9 44 4.888889 0.661111
Column 4 11 59.4 5.4 0.992
Column 5 5 26.6 5.32 0.772
ANOVA
Source of
Between Groups 1.398405 4 0.349601 0.40952 0.800273 2.701399
Within Groups 24.75689 29 0.853686
Total 26.15529 33
INTERPRETATION: if F < F crit, we accept the null hypothesis. This is the case 0.4 < 2.70.
There is no significant difference between Profession and consumer satisfaction.
H13 : Marital Status will not be positively associated with Brand Image
SUMMARY
Column 1 2 12.4 6.2 0.08
Column 2 17 100.6 5.917647 0.420294
Column 3 15 91 6.066667 0.158095
ANOVA
Source of
Between Groups 0.261961 2 0.13098 0.450252 0.64157 3.304817
Within Groups 9.018039 31 0.290904
Total 9.28 33
INTERPRETATION: if F <F crit, we accept he null hypothesis. This is the case 0.45<3.30
Therefore, we accept the null hypothesis. There is no significant difference between marital
status and brand image.
STUDY ANALYSIS
 CUSTOMER PERCEPTION ANALYSIS
Total T/F critical

# Question Mean Variance T/F test
Responses value
Age
 Below 35 14 5.85 0.6414
1 1.1777 3.3048
 35-45years 12 5.91 0.526
 After 45 Years 8 5.41 0.5701
Marital Status
16 6.20 0.486
 Married
2 16 5.67 0.4726 2.7941 3.3048
 Unmarried
2 6.3 0.031
 Separated
Gender
3  Male 18 5.97 0.587 0.075 2.03
 Female 16 5.95 0.47
Educational Level
 Illiterate 0 0 0.00
4  Secondary 2 5.75 0.5 0.079 3.304
 Graduate 17 5.69 0.58
 Others 15 5.79 0.4
Profession
 Retired 6 6.3 0.24
 Private Sector 3 6 0.25
5 0.529 2.7013
 Government Sector 9 5.77 0.60
 Student 11 5.93 0.5636
 Others 5 5.9 0.9
 LOYALTY INTENTIONS ANALYSIS
T/F
Total Varianc
# Question Mean T/F test critical
Responses e
value
Age
 Below 35 14 5.080 1.299
1 2.823 3.3048
 35-45years 12 5.09 0.673
 After 45 Years 8 5.96 0.262
Marital Status
 Married 16 5.58 0.95
2 16 4.86 0.898 2.7375 3.31
 Unmarried
2 5.8 0.125
 Separated
Gender
3  Male 18 5.29 0.834 0.20481 2.0452
 Female 16 5.22 1.120
Educational Level
 Illiterate 0 0.0 0.0
4  Secondary 2 4.8 0.63 2.278 3.23
 Graduate 17 4.97 1.23
 Others 15 5.6 0.58
Profession
 Retired 6 6.02 0.53
 Private Sector 3 5.12 1.14
5 1.26 2.70
 Student 11 5.21 5.21
 Others 5 2.25 5.25
 BRAND IMAGE ANALYSIS
Total T/F
Varianc
# Question Response Mean T/F test critical
e
s value
Age
 Below 35 14 6.014 0.452
1 2.05 3.3048
 35-45years 12 5.8 0.130
 After 45 Years 8 6.2 0.125
Marital Status
16 6.05 0.28
 Married
2 16 5.9 0.329 0.207 3.30
 Unmarried
2 6.1 0.02
 Separated
Gender
3  Male 18 5.9 0.33 -0.38 2.0369
 Female 16 6.03 0.235
Educational Level
 Illiterate 0 0 0.00
4  Secondary 2 6.2 0.08 0.450 3.3048
 Graduate 17 5.9 0.42
 Others 15 6.06 0.15
Profession
 Retired 6 6.26 0.28
5 1.560 2.70
 Student 11 6.18 0.378
 Others 5 5.8 0.32
 CONSUMER SATISFACTION ANALYSIS
Total T/F critical

# Question Mean Variance T/F test
Responses value
Age
 Below 35 14 5.28 1.06
1 3.602 3.31
 35-45years 12 5.916 0.526
 After 45 Years 8 6.21 0.32
Marital Status
16 5.28 0.81
 Married
2 16 5.02 0.842 0.6855 3.3048
 Unmarried
2 5.7 0.18
 Separated
Gender
3  Male 18 5.17 0.573 -0.07 2.0518
 Female 16 5.2 1.09
Educational Level
 Illiterate 0 0 0
4  Secondary 2 5.3 0.5 0.345 3.304
 Graduate 17 5.05 1.01
 Others 15 5.32 0.624
Profession
 Retired 6 5.1 1.19
5 0.4095 2.701
 Student 11 5.4 0.99
 Others 5 5.32 0.72
CHAPTER V
FINDINGS, SUGGESTIONS AND CONCLUSION
Correlation
Pearson correlation shows that positive correlation exists between brand image and loyalty
intentions with 0.66196 value which was significant at 0.00. Relationship between brand image
and consumer perception was also significant with 0.759438 value and significant at 0.00.
Relationship between consumer perception and loyalty intentions was significant with value
0.7298 and significant at 0.00. This has been shown by hypotheses H1, H2 and H3.
T-Test
T- tests have been conducted to see whether there is a difference between two groups with respect
to gender, age and marital status with loyalty intentions, consumer perception and brand image.
The t-test takes into consideration the means and standard deviations of the two groups on a
particular variable and examines if the numerical difference in the means is significantly
different from zero as postulated in the null hypothesis (Sekaran, 1998). In our study, we could
not find any significant difference between gender and loyalty intention, marital status and
loyalty intention, age and loyalty intentions.
Hence the null hypotheses H4, H5, H6 ,H7 were accepted.
ANOVA Tests
Whereas t-test would indicate whether or not there is significant mean difference in a dependent
variable between two groups, ANOVA helps to examine if there are significant mean differences
among more than two groups. The null hypotheses formulated for ANOVA Tests are
H8,H9,H10,H11,H12,H13
For hypothesis H11, we found there will not be positive relationship between brand image,
consumer perception, consumer satisfaction and loyalty intentions.
FINDINGS
1. Through correlation we came to know that the brand image has more positive impact on
consumer perceptions than loyalty intentions and consumer satisfaction.
2. Brand image is also positively associated with consumer perceptions and loyalty
intentions.
3. Gender , Marital status and Age has shown no significant impact on the loyalty
intentions, brand image and consumer perception, consumer satisfaction.
4. No significant difference was between age and brand image.
5. Also there is significant difference among loyalty intentions, consumer preference ,
consumer satisfaction and brand image.
6. But Patanjali should try to increase its brand image for increasing loyalty intentions
among consumers.
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.
Annexure-1
Questionnaire
Dear Respondents,
You are requested to fill in the relevant blanks. The information collected would
be used for research purposes only.
GENERALINFORMATION:
1. Name of the customer…………......................................................................
2. Age: below 35 years 35-45 years above 45 years.
3. Gender: Male Female
4. Marital status: Married Unmarried Separated
5. Educational status: Illiterate Secondary Graduate Others
6. Profession: Retired Private Sector Govt Sector Student Others
SPECIFIC INFORMATION:
This part have 7 options 1,2,3,4,5 6,7

Where,
1-Extremely Dissatisfied 2-Moderately Dissatisfied 3-Slightly Dissatisfied 4-Neutral 5-
Slightly Satisfied 6-Moderately Satisfied 7-Extremely Satisfied
A. Consumer Perception Towards Patanjali
S.NO.
1 234567
Statement
1 2 3 4 5 6 7
A1 Do you think that Patanjali offers High Quality Products?
1 2 3 4 5 6 7
A2 Do you think Patanjali have Traditional and herbal Products?
A3 Do you think Patanjali offers Cheaper Products?

1 2 3 4 5 6 7
A4 Patanjali offers products at affordable prices?
B. Loyalty Intentions among Consumers of Patanjali
S.NO.
1 234567
Statement
1 2 3 4 5 6 7
B1 I intend to buy products of this brand in the near future
1 2 3 4 5 6 7
B2 I intend to buy other products of this Brand
I consider this brand my first choice in different product 1 2 3 4 5 6 7
B3
categories
1 2 3 4 5 6 7
B4 I say positive things about this brand to other people
I would recommend this brand to someone who seeks my 1 2 3 4 5 6 7
B5
advice
B6
I don’t bother looking at alternative brands; this brand is good 1 2 3 4 5 6 7
enough for me
If this brand raise its prices, I would continue to buy their
B7 1 2 3 4 5 6 7
products
B8
If this brand was NOT available, it would make huge difference 1 2 3 4
to me 5 6 7
C. Analyzing Brand Image of Patanjali and its products
S.NO.
1 234567
Statement
1 2 3 4 5 6 7
C2 Is Patanjali being used by older people in your family?
1 2 3 4 5 6 7
C3 Is Patanjali being used by younger people in your family?
1 2 3 4 5 6 7
C4 Do you think that Patanjali is a modern innovative brand ?
1 2 3 4 5 6 7
C5 I Buy its products because it’s a Indian herbal brand
I Buy its products not because of Spiritualism associated with
C6 1 2 3 4 5 6 7
the brand
D. Consumer’s Satisfaction level and Experiences of using this product
S.NO.
1 234567
Statement
1 2 3 4 5 6 7
D1 How do you rate the Patanjali Products?
1 2 3 4 5 6 7
D2 Do you think it has high product efficiency ?
1 2 3 4 5 6 7
D3 Are you satisfied with the behaviour of the Patanjali people?
1 2 3 4 5 6 7
D4 The overall quality of the products is excellent
D5 Are you satisfied with the Patanjali Products? 1 2 3 4

5 6 7
REFERENCES AND WEBSITES

1 Growth Of Swadeshi- A Case Study On Patanjali Ayurved Limited : International Journal Of
Engineering Technology, Management And Applied Sciences, July 2016, Volume 4, Issue 7,
ISSN 2349-4476 7 , Pranshoe Pandey And Rahul Sah
2 A study on customer awareness and satisfaction of selected ayurvedic & herbal products:
3 International Journal of Advanced Research and Development:ISSN: 2455-4030, Impact
Factor: RJIF 5.24, Volume 1; Issue 8; August 2016; Page No. 06-12 Chandiraleka E, Dr.
Hamsalakshmi R
4 Customer preferences towards patanjali products: A study on consumers with reference to
Warangal district International Journal of Commerce and Management Research ISSN: 2455-
1627, Impact Factor: RJIF 5.22 Volume 2; Issue 11; November 2016; Page No. 26-28 G
Satheesh Raju, R Rahul
5 A study on consumer’s preference and perception towards Patanjali product: International
Journal of Multidisciplinary Research and Development Online ISSN: 2349-4182, Print
ISSN: 2349-5979, Impact Factor: RJIF 5.72 ,Volume 4; Issue 2; February 2017; Page No. 204-
209,S Anupriya
6 FMCG companies specific distribution channels: studies and Scientific Researches.
Economics Edition No. 14, 2009, Teaching assistant Ioana Barin - Olariu, University “Vasile
Alecsandri” of Bacau
7 A Descriptive Study On Customer Satisfaction With Special Reference To “Hul Ltd”:
International Journal Of Engineering Research And Modern Education (Ijerme) Issn
(Online): 2455 - 4200) Volume I, Issue Ii, 2016,Anumesh Kariappa ,Assistant Professor,
Srinivas Institute Of Management Studies, Pandeshwar, Mangalore, Karnataka
8 A Yogic Business Revolution: Back to the Future! IOSR Journal of Business and
Management (IOSR-JBM) e-ISSN: 2278-487X, p-ISSN: 2319-7668 PP 59-6 ,Dr.Harish B.
Bapat1, Dr.Vishal Khasgiwala2
9 Magic wand for healthy living volume : 1 | issue : 9 | september 2012 issn - 2250-1991
paripex - indian journal of research,ms. Sandhya rani , dr. Chhaya shukla
10 PATANJALI AYURVED, Waiting in the wings Edelweiss Research
11 Demystifying the Brand Patanjali - A Case on growth strategies of Patanjali Ayurved

Ltd.,Prof. Brijesh Singh & Dr. R.K. Gopal
12 Customer Perception towards Brand: A Study on ‘Patanjali’ Global Journal of Management
and Business Research: E Marketing Volume 15 Issue 9 Version 1.0 Year 2015 Type:
Double Blind Peer Reviewed International Research Journal Publisher: Global Journals Inc.
(USA) Online ISSN: 2249-4588 & Print ISSN: 0975-585, Rupali Khanna Chandigarh
University, India
13 Kotler, P. (2008). Marketing Managment (11th ed.). New Delhi: Pearson Education
14 Awad, A., & Al-Shaye, D. (2014). Public awareness, patterns of use and attitudes toward
natural health products in Kuwait:A cross-sectional survey. BMC Complementary and
Alternative Medicine, 14(105).
15 Ghosh, A. (2015, January 13). Baba Ramdev's Business Empire Soars, With His Own Rising
ProfileBaba. The Huffington post in Association.
16 Kotler, P., Keller, K. L., Koshy, A., &Jha, M. (2014). Marketing Management-A South Asian
Perspective (14th ed.). New Delhi: Dorling Kindersley (India) Pvt.Ltd.
17 Malhotra, N. K., & Dash, S. (2012). Marketing Research: An Applied Orientation (6th ed.).
New Delhi: Dorling Kindersley (India) Pvt.Ltd.
18 Dekimpe, M.G., J.B. Steenkamp, M. Mellens and E.V. Abeele, 1997. Decline and variability
in brand loyality. International Journal of research and Marketing, pp: 405-420.
WEBSITES
[1] http://www.indiaonlinepages.com/population/india-current-population.html
[2] Research report on Indian FMCG Industry, AFS Action, July 13, 2013
[3] http://info.shine.com/industry/fmcg/6.html
[4] http://reports.dionglobal.in/Actionfinadmin/Reports/FDR0108201343.pdf
[7]http://www.thehindu.com/news/cities/mumbai/business/fastmoving-ayurvedic-
goods/article8187124.ece
[8] http://patanjaliayurveda.com/en/about-us
[9] http://www.nielsen.com/in/en.html
[10] http://companiesinindia.net/fmcg/
[11] http://economictimes.indiatimes.com/industry/cons-products/fmcg/how-baba-ramdev- has-
built-a-rs-2000-crore-ayurvedic-fmcg-empire-plans-to-take-on- multinational-
giants/articleshow/47657636.cms
[12] Patanjali Ayurved, waiting in the wings, Edelweiss Research
[13] http://patanjaliayurveda.com/en/about-us
[14] Mass Customization: The Success Story of Baba Ramdev, Mrinalini Deshpande, Indian
School of Mines.
[15] http://www.vccircle.com/news/fmcg/2016/02/19/role-small-stores-patanjalis-expanding-
footprint
[16] https://in.finance.yahoo.com/news/10-stunning-facts-baba-ramdev-053501185.html
[17] http://economictimes.indiatimes.com/industry/cons-products/fmcg/patanjali-enters-big-
retail-with-future- group-tieup/articleshow/49285002.cms
[18] http://www.dnaindia.com/money/report-patanjali-to- invest-rs-1000-crore-in-2016-focus-on-
expansion-e-commerce-exports-ramdev-baba-2150032
[19] http://www.ramdevmedicine.com/patanjali-products- in-united-states-of-america
[20] http://ww7.patanjaliayurveda.org/
[21] http://www.singhgroup.net/export_import.html
[22] http://indianexpress.com/article/india/india-others/drdo-ties-up-with-ramdev-to- market-
supplements- food-products/

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PATANJALI AYURVEDA LTD 2017

Radhika Gandotra (45-MBA-16)

It would be an immense pleasure for us on completion of our project report successfully. It

Radhika Gandotra (45-MBA-16)

1.1. OBJECTIVES OF STUDY

The study in hand is conducted keeping in view the following objectives :

 To measure the consumers satisfaction level after using Patanjali products

 To measure loyalty intentions among existing consumers of Patanjali

1.2. DEFINITIONS OF TERMS

1.2.3. CONSUMER PREFERNCE: The preferences of the consumers are a positive

1.2.4. CONSUMER PERCEPTION: Perception is a process by which individuals

1.2.5. CONSUMER SATISFACTION: Consumer satisfaction is one of the most

2.1. RESEARCH BACKGROUND

A study of consumer perception of herbal products in Bhopal: International Journal of

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

Customer Perception towards Brand: A Study on ‘Patanjali’: Global Journal of

AUTHOR: Miss Rupali Khanna, Chandigarh University, India

This paper carries out a study on what factorsPATANJALI.“Patanjali “- a brand set up by

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

AUTHORS: S Anupriya, Assistant Professor, Department of Commerce, Hindustan

Customer preferences towards Patanjali products: A study on consumers with

AUTHORS: Dr (Ca) Seema Gosher,Asst.Prof : Dept of Accountancy, Smt.Mmp Shah

2.3. LIMITATION OF THE STUDY: In this research, we examined factors responsible

Patanjali Ayurved was co-founded by Acharya Balkrishna and Baba Ramdev to

3.2. PRODUCT LINE AND PORTFOLIO OF PATANJALI YOGPEETH

DivyaYauvanamritaVati for Weak Bodies and Impotency

3.3. PRODUCT MIX OF PATANJALI YOGPEETH

BavaciChoorna - Divya(for Leucoderma)

MedhaVati - Divya (for Memory Loss and Improving Intelligence) 40 grams

TejusTailum For Women

3.4. PERFORMANCE ANALYSIS OF PATANJALI AYURVED

Revenue trend of Patanjali

3.4.2 Net Income (EBITDA) Trend

Market Share of Patanjali Ayurved

3.4.4. Future Revenue Projection

3.4. BUSINESS PRINCIPLE/USP ANALYSIS OF PATANJALI AYURVED

3.5 MARKETING ANALYSIS OF PATANJALI AYURVED

3.6 DISTRIBUTOR ANALYSIS

3.7 EXPORT ANALYSIS

3.8 FUTURE STRATEGY

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

5.2 DATA ANALYSIS TYPES

5.2.1 QUANTITATIVE DATA ANALYSIS

5.2.2 QUALITATIVE DATA ANALYSIS

5.2.3 EXCEL FOR DATA ANALYSIS

• T-tests for comparing sample means

• F-test for comparing variances of two samples.

• Analysis of Variance (ANOVA) with one or two factors.

5.3 PROFILE OF RESPONDENTS

Educational Level 0 0.00%

seprated Marital status

INTERPRETATION: The demographic analysis was performed in order to capture some

5.4 QUESTIONARRIE ANALYSIS

A. Consumer Perception Towards Patanjali

Do you think Patanjali have

Do you think Patanjali offers

Patanjali offers product at

B. Analyzing Brand Image of Patanjali and its products

C. Loyalty Intentions among Consumers of Patanjali

I intend to buy products of this brand in the 5.614

2 I intend to buy other products of this brand 34 5.588 1.07

I consider this brand my first choice in its

I say positive things about this brand to

I have or would recommend this brand to