Patanjali Ayurved entered the FMCG industry and quickly rose to prominence thanks to its strong marketing strategy and brand positioning. Having adhered to the old dependence of the country on ayurvedic products and medicines, Patanjali marketed itself as pure and herbal thereby successfully capturing the Indian minds.
In this blog, we shall take a look at Patanjali and its marketing mix. We will learn about its product variety, pricing strategy, reach, and promotion strategy as you advance further.
About Patanjali – Ayurved Products
Patanjali Ayurved Ltd. is a rapidly growing FMCG company in India that solely deals with herbal and natural products. It was founded in 2006 by Acharya Balkrishna and yoga guru Baba Ramdev. It has its headquarters in Haridwar. In the year 2019, it made earnings worth $ 1.2 billion.
Patanjali’s digital marketing strategy revolves around linking modern India with its culture and heritage of medicine ie. Ayurved. Without a doubt, Patanjali offered a diverse selection of products, but as a young and emerging brand, it faced a slew of competitors.
While observing the business side of the organization, it caters to the personal care and food industries. It produces more than 2,500 products and manufactures over 300 Ayurved medicines for the treatment of various body ailments.
One of the primary reasons for its success is because its goods are 10% to 30% cheaper than other FMCG items. Another reason for its accomplishment is the shift in Indian consumers’ lifestyles towards natural and ayurvedic products
Marketing Mix of Patanjali
The business analysis tool – Marketing Mix comprises of the four Ps: product, price, location, and promotion. This tool helps us acquire a comprehensive understanding of the firm and the strategies it uses to market and sell its products to the broader public.
Let’s take a look at Patanjali’s marketing strategy.
Product in the Marketing Mix of Patanjali
Patanjali’s marketing mix includes a wide range of products. Patanjali’s product line included around 400 different FMCG items. Its whole line of goods is ayurvedic and chemical-free.
Baba Ramdev is continuously pushing Indians to commence using Indian brands and boost the country’s economic growth. Patanjali is preparing to take over all famous brands dealing in beverages and foods.
Patanjali products cater to the following niche:
- Foods – which consists of jams, biscuits, noodles, pulses and many other categories of food products.
- Healthcare & Medicines
- Personal care products
- Cleaning agents
Patanjali offers around 300 remedies to cure a variety of illnesses and diseases, ranging from the common cold to paralysis. Textiles, pants, kurtas, pyjamas, and other items are also priorities for the firm.
Place Mix of Patanjali
Patanjali Ayurved is the fastest-growing Indian FMCG company, with operations in Nepal and other neighbouring countries. The firm operates a manufacturing facility in Nepal and purchases herbs from the Himalayas, thus, their long-standing business connection aided its expansion to Nepal. There are presently over 10000 Patanjali stores in India due to its strong distribution network.
Outside of India, the brand has been able to grow geographically. Patanjali goods are extensively accessible in Nepal, Saudi Arabia, the United Arab Emirates, the Middle East, Bangladesh, and Sri Lanka, among other places.
Pantajali has partnered with companies such as Future Group, Reliance Retail, Hypercity, and others. As a result, the Patanjali brand has been able to ensure that its goods are widely available across India’s cities and towns. Patanjali goods are also available at large retailers such as Big Bazaar and others.
With its growing outreach in India and Nepal, Guru Ramdev will surely be aiming to capture the market in many other countries. Patanjali will undoubtedly have plenty of room for expansion and growth with a staggering income of 5000 crores.
Patanjali’s e-commerce market in India is growing along the side. Customers are able to purchase Patanjali products with door-step delivery and convenient forms of payment such as COD and online payment.
Pricing Mix of Patanjali
Patanjali Ayurved is the fastest-growing Indian FMCG firm. This can be credited to two reasons mainly:
- Natural Ayurvedic Ingredients
- Pricing Policy.
Patanjali Ayurved has gotten ahead of its strong competition mostly due to its pricing strategy. HUL and P&G have sought to overtake Patanjali, but people’s passion for Indian products has propelled Patanjali to the top of the FMCG and Ayurvedic product segments.
The company knowledges their customers about the advantages of utilising its products and use price comparison as an effective and efficient marketing technique. Patanjali’s pricing plan is clearly working since the firm recognises that it would not be able to conquer the market at higher costs.
Patanjali has duplicated an already successful FMCG strategy and is focusing on providing a healthier and natural alternative to its target demographic. As a result, category, region, and, most crucially, competition pricing all influence Patanjali product prices.
Furthermore, if natural components are available, the product’s cost is very certain to be lower. In comparison to international brands that help Patanjali reach every household in a country like India, almost every product has a price reduction of 25-30%.
Promotion Mix of Patanjali
Baba Ramdev, Patanjali’s brand ambassador, has a massive fan base, which has helped the company rocket to the top in a short period of time.
Patanjali prioritised promotion for its goods as a means of increasing sales. Patanjali’s marketing mix includes various types of media, such as print, television, internet advertisements, billboards, and so on, for promotion and advertising.
Patanjali’s ads have been vigorous, emphasising the need of employing natural and ayurvedic methods to create products. In addition, Patanjali ads showcase their whole product range, which is geared at those who want to live a healthy lifestyle by consuming organically grown foods.
This huge advertising exercise by Patanjali has made it one of the fastest evolving FMCG companies in India, with annual revenues above INR 5000 crores.
Consumers’ insights towards a particular brand are based on the level of satisfaction that the user receives after paying for the product and the benefits the user looks for in the product. In the above case study, we observed that a significant portion of the user is satisfied with Patanjali’s products. This satisfaction leads to the retention of consumers.
The firm has never used any additional promotional tactics such as coupons, gifts, refunds, or rebates but continues to retain its customers, and draw in more users with the concept of health enhancement.
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