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  • 1. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED INTRODUCTION1.1 INDUSTRY PROFILE Market potential is the maximum amount of sales that might beavailable to all the firms in an industry during a given period under a givenlevel of industry marketing effort and given environmental conditions.Companies face the problem of selecting the best territories and allocatingtheir marketing budget optimally among these territories. Therefore theyneed to estimate the market potential of different cities, states, and nation,which is primarily used by business marketers, and the multiple -factorindex method, which is used primarily by consumer marketer. Ayurveda is the 5000 years old Indian System of medicine. The termevolved from two words Ayur life and Veda means science .This system ofmedicine follows a holistic approach, diagnosing not just the disease butthe whole body constitution of the patient. Today Ayurveda is gainingglobal popularity .The World Health Organiza tion recognizes Ayurveda asan alternative system of medicines used safest system of medicines.Rejuvenation and therapeutic procedure are unique to Ayurveda. Thiscomprehensive, multidisciplinary system of medicine offers specialties likepaediatrics, genetics gynaecology, physiotherapy and rejuvenation. Ayurveda was predominant in most of the parts of the India for along period. But newly developed fear of the side effects and long term illeffects of allopathic medicines coupled with inefficiency to compact alarge number of diseases have brought the attention not only India butwhole world to the biologically based medicines. Now i t is the resurrectiontime of the science. A large number of new organizations in India areentering in the area of Ayurvedic medicines manufacturing. The curiosityof the whole world is to high and research and development taking placeall over the world in this science. Companies like Dabur and Himalaya areAMC 1
  • 2. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDas strong as any allopathic medicine company. A large number of neworganizations in India are entering in the area of Ayurvedic medicinesmanufacturing. The curiosity of the whole is too high and the research anddevelopment taking place all over the world in the area of this science.Companies like Dabur and Himalaya are as strong as any allopathicmedicine company. A large number of allopathic medicine manufacturinghas started including Ayurvedic medicines in this production list.Nagarjuna this small of cell Ayurveda medicines to a tune of 20% of thetotal allopathic sales with number of doctor’s institutions and medicalshops not favourably comparable like this. Apart from Ayurvedic medicines which is based on the traditionalIndian system of diagnosis and treatment. A large number of herbalmedicines are also available in the world market. In f act the growth of themarket shares of these products suppresses the growth of Ayurvedic marketby several times. Easy method of administration, convenient dosage, moreeasily understandable scientific explanation makes it more attractive. Moreover the possibility of the standardization of herbal medicines is betterthan the Ayurvedic medicines. Anyhow growth is visible in different fields like traditionalclassical medicines, herbal cosmetics etc. the herbal medicine marketshows a very fast growth all over the world and its potential is extremelygood. Today Nagarjuna Healthcare product is a major force in health care,growing at a spectacular rate - with new clinics, new market strategies,new products, and new cures. Some of Nagarjua Healthcare products are onthe verge of being patented. Nagarjuna Healthcare is truly on a mission tobe the number one choice in Ayurveda globally. All life forms contain aunique mix of these forces giving them their special character.AMC 2
  • 3. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED Thus, because every individual is unique and indivisible, what isbalancing for one persons body and temperament may cause imbalancesand disease in another. Ayurveda provides guidelines to determine yourindividual constitution and for your specific pathways for creating balance.You can begin to look at yourself through these principles by taking a se lf-test at this website to discover your Ayurvedic constitution.1.2 THEORETICAL BACKGROUND Global marketing is become more and more important along the yearwith the increasing trend in internationalization. Having to many choices,markets face the challenge to determining which international markets toenter and the appropriate marketing strategies for the countries. People think of marketing as selling through advertising but todaymarketing must be understood not in th e older sense of production-orientedmarketing but in the new sense of satisfying customer needs.1.3 MARKET POTENTIAL: According to Philip Kotlar – Greater marketing expenditures wouldyield higher level of demand first at increasing rate, and then at adecreasing rate. Marketing efforts above a certain level would not causemuch more demand. This upper limit of market demand called “MarketPotential”.Market Potential mainly can be divided into two groups: a) Total market potential b) Area market potentialAMC 3
  • 4. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDTotal Market Potential Total market potential is the maximum amount of sales that might beavailable to all the firms in an industry during a given time period under agiven of industry marketing effort and given environment conditions.Method of calculating total marketing potential: a = NQPHere, a = total market potentialN = No. of buyers in the specific market under the given assumptionsQ = Quality purchased by an average buyerP = Price of an average unitArea market potential Area market potential refers to maximum amount of sales that mightbe available in some specific area i.e. cities, states during given period andgiven environmental condition method for calculating area potential.Two methods are available for calculating area potential: a) Market builds up method b) Multiple factor index methodUnfortunately one or both are usually lacking A market potential is an estimate of maximum possible salesopportunities present in a particular market segment and to open all sectionof goods or services during a stated future period. A market potential indicates how much of particular product can besold to a particular market segment over some future period assuming theapplication of appropriate marketing methods.Analysis of Market PotentialMarket potential can be analyzed by the following steps:AMC 4
  • 5. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED a) Market Identification. b) Market Motivation. c) Analysis of Market Potential.a. Market Identification:- The first step in analyzing a product market potential is to identifyits market. Market identification requires finding out:Who buys the product?Who uses it?Who are the prospective buyers and users? Market identification studies reveal the characteristics thatdifferentiate the market segment making up the product market potential.b. Market Motivation:- The second step is analysis potential is to detect the reason whycustomer buys the product and why potential customer might buy it.Market motivation studies answers these questions.Why do people buy?Why don’t people buy? The answers help not only in estimating market potential but assistthe sales executives to seeking in increasing the eff ectiveness ofpromotional programmes.c. Analysis of Market Potential:- Having identified the potential buyers and their buying behavior thestep is to analyze the market potential. Generally market potential cannotbe analyzed directly. So analysis makes use of market factor. Thus usingmarket factor for analyzing market potential is a two step process. Selectthe market factor associated with product demand. Eliminate those marketsegments that do not curtain perspective buyers of the product .AMC 5
  • 6. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDCompany Sale Forecast It is the expected level of company sale based of a chosen marketingplan and an assured marketing environment.EVALUATION OF MARKETING: The history of marketing parallels the history of civilization becauseit is both a course and effect of civilizing process. Men tend to buildculturally and technologically on the foundation laid by other generationand other societies marketing contributes to this civilizing ocean bymaking the goods of more sophisticated societies available to lessadvanced societies, marketing is affected the progress of civilization inthat it must constantly adopt new strategies and techniques a s societies andits problem become more compare. Davi J Schwarts historically marketing is said to have developed asa society moved from the stage of self sufficiency to the point where acharge was needed. This system developed when there was division o flabour, factory, industrialization and urbanization of the population.MARKETING STRATEGY Marketing strategy is built on STP – Segmentation, Targeting, andPositioning. A company discovers different needs and groups in themarketplace, targets those needs and groups that it can satisfy in a thesuperior way, and then positions its offering so that the target marketrecognizes the company’s distinctive offering and image. If a comp anydoes a poor job of positioning, the market will be confused as to what toexpect. If a company does an excellent job of positioning, then it can workout the rest of its marketing and differentiation from its positioningstrategy.AMC 6
  • 7. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDBRAND STRATEGY DECISION Brand strategy will vary with whether the brand is a functionalbrand, an image brand, or an experiential brand. Consumers purchase afunctional brand to satisfy a functional need such as to shave, to cleanclothes, to relieve a headache. Functional b rands have the best chance tosatisfy customers if they are seen as providing superior performance orsuperior economy. Functional brands rely heavily on “product” and or“price” features. Image brands arise with products or services that are difficult todifferentiate, or to assess quality, or convey a statement about the user.Strategies include creating a distinctive design, associating them withcelebrity users or creating powerful advertising image. Experimental brands involve the consumer beyond simply acquiringthe product. The consumer encounters “people” and “place” with thesebrands.Company Sales Potential It is the rates limit approached by a company demand as companymarketing effort increases relative to the competitors.1.4 Customer Satisfaction Satisfaction is a process feeling of please or disappointmentresulting from comparing a product perceived performance or outcome inrelation to his or her expectation. So a customer is satisfied only if theproducts perceived performance matches his expectation. If theperformance is fall short of exception the customer will be dissatisfied.Many companies are aiming for high satisfaction because customers whoAMC 7
  • 8. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDare just satisfied still find it easy to switch when a better offer comesalong. So far customer centered companies customer satisfaction is both agoal and a marketing tool.How to measure the customer satisfaction? Different companies used different tools tracking and measuringcustomer satisfaction.Tools for Tracking and Measuring Customer Satisfaction :- Complaint & Suggestions : A customer center organization can make it easy for its customer todeliver suggestions and complaints. Customer Satisfaction Survey : The company can conduct periodic survey with the help of sendingquestionnaire or through telephones calls to a random sample of theirrecent customer and ask if they were satisfied in different, somewhatdissatisfied or very dissatisfied with various aspect of companiesperformance. Ghost Shopping :- Company can hire persons to pose a potential buyer to report theirfindings on strong and peak they experienced in buying the company’s andcompetitor products. These ghost shoppers can even pose certain problemto test whether the company sales perso n handle the situation well. Lost Customer Analysis :- Companies should contact a customer who have stopped buying orwho have switched to other supplier to learn why this happened. With theAMC 8
  • 9. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDhelp of these tools company can find out the level of consumer satisfactionand can act accordingly.1.5 Market Share:- “A company’s market share is sale of a company’s aspercentage of total sale of a market” means the market captured by thecompany and its brand. In order to know the potential market for acompany product it should be clear that what is the existing market shareof company’s product and how the company is performing relative to thecompetitors.For this management has to track its market share and analysisof market share should be done.There are four measures of market share:-a. Overall Market Share: It is a company sales expressed as a p ercentageof total market sales. Two decisions are necessary to use this measure.First to use unit sale or dollar sale to express market second is how todefine total market.b. Served Market Share: The company served market share is its salesexpressed as a percentage of the total sale is it’s served market, its servedmarket is all buyers who are able and willing to buy the product.Relative Market Share (to top three competitors ): The companyrelative market share to its top competitor express its sales as a percentageof the three largest competitor combined sales.Relative Market Shares (to leading competitors ): Some company tracktheir share as a percentage of their leading competitors sales. A relativemarket share of exactly 100% means that the company is tied for lead. AAMC 9
  • 10. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDrise in company’s relative market share means that it is gaining on itsleading competitor. Established in 1989 Nagarjuna Ayurveda Limited founded bySri.V.G.Devdas Nampoothripad marketed and services by provided indifferent types of Ayurvedic products.Nagarjuna is in continual pursuit ofinfinite possibilities in the development growth and prosperity.Businesssystem impact on the market potentiality as well as the sales potentiality ason the market impact of the market potentiality. It does not have a widerange or market hold not only easily available during its needs b ut it pricesare cheap which it provides to the customer. Therefore the study of the market potential become a veryinteresting and useful in the knowing the potential customers. And once thecompany knows its potential customer it will be easy for them to maketheir product available in the market easily.AMC 10
  • 11. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED 2. DESIGN OF THE STUDY2.1 STATEMENT OF THE STUDY The research study entitled comparative analysis of marketpotentiality, market share and consumer’s perception for AyurvedicProducts in Bangalore under taken by the researcher covers the followingresearch activity. Study on market potentiality depends on different type of marketshare. The study also gives the extent of satisfaction and dissatisfactionamong the users so that the company can take the desired step to minimizethe dissatisfaction level. Study of the various factors which plays a majorrole in purchasing decision which provide the opportunity for the companyto get the information about the most common factors which influe nces thepurchase decision. The study helps to determine the average annualexpenditure of the customers and the price that is affordable for them topurchase Ayurvedic products. In order to frame its price range accordingly,the aim of the study is to estimate the market potentiality and consumerperception in Bangalore and compare it with its competitive brands andalso forecast the various opportunit ies available in the market forAyurvedic Products. Therefore it is expected that the research findingswould give valuable results which would benefit for the companyNagarjuna Health Care, to make vital decision and to frame their marketingprogrammers more effectively and efficiently to be a premier and a marketleader in the Ayurvedic industry. Today Ayurvedic products have become a part and parcel of ourlives. The demand for Ayurvedic products is growing day by day as peoplethink that it is a easy way of managing their health and keep them fit.AMC 11
  • 12. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDCompetition is very high, there are many companies in the market withdifferent products. To get the position in the market it is very difficult.2.2 OBJECTIVES OF THE STUDYPrimary objectives  To find out market potentiality of Ayurvedic products in Bangalore.  To know the consumer awareness level about Ayurvedic products in Bangalore.Secondary objectives 1. To find out the percentage of people using Ayurvedic products. 2. To determine the awareness of Ayurvedic products among various brands. 3. To determine the preference of Ayurvedic products among various other brands. 4. To determine the performance of Ayurvedic products among its competitive brands on various attributes. 5. To find out the marketing strategy of Ayurvedic products. 6. To determine the importance of various attributes of the buyers regarding the choice of their Ayurvedic products. 7. To determine the impact of various influencing factors or promotional activities, that will influences the customers on the purchase of Ayurvedic products.AMC 12
  • 13. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED2.3 SCOPE OF THE STUDY The market potential study of Ayurvedic Products covers rangevariables. This comprehensive study helps to analyze the market forAyurvedic products. It helps to understand the usage trends of existingAyurvedic products and helps to find out wants and preferences of thebuyers. Such a study forms the groundwork for future research. It will alsohelp the organization to formulate the sales strategy based on the findingof the survey.Thus the scope of study is:- 1. The scope of the study concern organizations in Bangalore. 2. The scope of the study includes finding out market potential of Ayurvedic products.2. 4 REVIEW OF LITERATURE For the purpose of this study information relating to the topic wascollected from various sources. This review of literature shows us as tofrom what sources data has been collected like Text books such asMarketing Management – Philip Kotlar and so on.2.5 OPERATIONAL DEFINITION OF THE CONCEPTSMARKET: A market consists of the entire potential customer sharing aparticular process by which individual and groups obtain what they needand want through creating and enchanting products and value with others.AMC 13
  • 14. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDMARKETING MANAGEMENT: Marketing management is the process of analyzing planningimplementation and control of programs design to create build andmaintain beneficial in charge with target buyers for the purpose ofachieving organization objectives.MARKET POTENTIAL: The maximum amounts of sales that ma y be available to all the firmstin the industry during a given period under a given level of environmentfactor.MARKET DEMAND: Market demand for a product is the total volume that would bebought by a designed customer groups in a geographical area is a definedtime period in a defined marketing environment under defined marketingprogram.PRIMARY DEMAND:The level of total demand for all brands of a given period.SELECTING DEMAND:The demand for a given brand a product or a service.AMC 14
  • 15. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDRESEARCH: Research is the process of gathering recording and analyzing ofcrucial and relevant fact about any problem in any branch of humanactivity.MARKET RESEARCH: American marketing association defines marketing research asfollows:- Marketing research is the function which links the consumer,customer and public to the marketer through information used to identifyand define marketing opportunities and problems generate, refine, andevaluate marketing action, monitor marketing performance and improveunderstanding of marketing as a process.AWARENESS: Awareness relates to knowledge of the existence of variousmanufactures available in the industry.PRODUCT: A product is anything that can be offered to a market for attention,acquisition, use or consumption it includes physical object, services,personalities, place, organization and ideas.STRATEGY: A strategy is a board, basic plan of action by which as organizationintends to reach its good.AMC 15
  • 16. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDPROMOTION: It is the element is an organization mar keting mix that is used toinform and persuade market regarding the organization is product andservices.MOTIVATION: Motivation is a process that starts with physiological orpsychological deficiency or need that activities behavior or a drive that isamid at a goal or incentives.PERCEPTION: The process by which people select, organize and interpretinformation to form a meaningful picture of the world.BELIEF:A descriptive though that a person hold about something.ATTITUDES: A person consistently favorable or unfavorable evaluations feelingsand tenancies towards an object or idea.MARKET SGEMENTATION: It is the process of dividing the total heterogeneous market for aproduct in to several. Segments each of which tends to be heterogeneous inall significant aspects.AMC 16
  • 17. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDINDENTER: A group of firms that offer a product or less of products that areclose substitutes for each other. The set of all sellers of a product orservices.CONSUMERS: Who buy goods and services for their own use for household use orwho buy products equipment is and services in order to run theirorganization.NEEDS: States of felt deprivation are human needs these include basicphysical needs, individual needs and social needs.WANTS: The form taken by human needs as they are shaped by culture andindividual personality.CULTURE: The sum total of learned belief values and customer that serve todirect that consumer behavior of members of a particular society.AMC 17
  • 18. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED2.6 RESEARCH METHODOLOGY OF THE STUDYThe term Research indicates the following meanings: To study (something) thoroughly so as to present in a detailed,accurate manner scholarly or scientific investigation or inquiry.Close, careful study. Research is nothing but one of the primary means through which therequired knowledge, data, or the truth about something like for example,inquest, inquiry, inquisition, investigation, probe is to be made.In simple words Research is a systematic investigation to establ ish facts.The research procedure involves the following steps. They are;Necessity of the StudyTasks involved in the Study Translating the research purpose into specific research objectivesEstimating the value of the research informationThe situational analysis.Survey of all available date pertinent to marketing. It involves knowing the company, its products, the industry, themarket sales-practices and policies, the dealer situation, the promotionalmeasures and the like. The internal investigation with consumers and knowledgeable people(key men) in the organization informally gives a feel of the market.The formal research plan or design and its implementation:AMC 18
  • 19. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED This involves collecting and analyzing the data and preparing thereport. Good market research is created by the scientific method,methodologies, model building and cost benefit measures of value ofinformation. This particular research involves the collecting opinion fromthe upper class women with respect to the launching of the Himalayascomplete face care kit.THE RESEARCH DESIGN A Research design is purely and simply the frame work of plan for astudy that guides the collection and analysis of the data. The researchDesign is a conceptual structure within which the resea rch is conducted. Itconstitutes the blue print for the collection, measurement and analysis ofdata. A research design can be defined “as a series of advance decisionsthat taken together comprise a master plan on a model for the conduct on amodel for the conduct of investigations”. The research design is to be formulated before starting a research.Fundamental to the success of any formal research project is a soundresearch design. Its functions are to ensure that the required data aregathered accurately, economically and quickly.Types of Research Design:The Research Design may be broadly classified as:Exploratory ResearchConclusive ResearchAMC 19
  • 20. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED1. Exploratory Research: The main purpose of this research is toformulate a problem for more precise investigation o to develop theworking hypothesis from an operational point of view.Classification of Explanatory Research : Literature survey Experience survey Case studyConclusive Research: Conclusive Research is to assist the decision makerin determining, evaluating, and selecting the best course of action to takein a given situation. This research phase begins after the formulation ofresearch hypothesis. This research phase aims to prov e the hypothesis.Classification of Conclusive Research : 1. Historical Research 2. Descriptive Research 3. Experimental ResearchRESEARCH DESIGN OF THIS STUDY As descriptive research is used to describe something -usually marketcharacteristics or functions, the study is based on the Descriptive research.It describes the characteristics of a particular individual or of group.Moreover, descriptive research is the minimization of bias andmaximization of ability of ability of the evidence collected.AMC 20
  • 21. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED2.7 SAMPLING METHOD Sampling refers to the study of a part of the universe instead of thewhole of it, to draw conclusion. It is a tool or a technique to study thecharacteristics of the whole universe. The sampling procedure is adoptedfor effective research as per the object.Kinds of sampling technique: Probability Sampling Non-Probability SamplingProbability Sampling: Each element of the universe have known andequal chance or probabilities of being selected. It is also called Non -controlled sampling. There are various types of probabilistic sampling. -Random Sampling, Stratified Sampling, Cluster Sampling, SystematicSampling.Non-Probability Sampling: Do not use chance selection procedure.Rather, they rely on the personal judgment of the researcher. Theresearcher can arbitrarily or consciously decide which elements to includein the sample. Commonly used non-probability sampling techniquesinclude-Convenience Sampling, Judgmental Sampling, Quota Sampling.THE SAMPLING DESIGNTarget Market: Collection of opinion from the customers with respect to the releaseof the pre-launched Nagarjuna Healthcare product kit.AMC 21
  • 22. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDSampling Technique: The researcher proposed to carry out the survey based on Randomsampling under Probability sampling technique.Sampling Criteria:Proposed sampling criteria are:Representation of different areas of Bangalore.Sample size: Determining the sample size is complex and involves severalconsiderations. In any marketing research object time and budget arelimited. In this study, the researcher has done a sample size is 100numbers.2.8 DATA COLLECTION TOOLSOURCES OF DATA: Collection of facts (raw facts) is known as data. There are two typesof data:  Primary data  Secondary dataPrimary Data: Data originated by the researcher for the specific purposeof addressing the research problem is known as primary data. These are notreadily available. This research work is done mainly on the basis ofprimary data.AMC 22
  • 23. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDSecondary Data: Data collected for some purpose other than the problemat hand is known as secondary data. In this research work, secondary datais also used.DATA COLLECTION INSTRUMENT: Questionnaire is the main instrument in this research to collect thedata. It is a form list of questions related to the problem of the research, tobe answer in the survey. Both primary and secondary data have been used for this study. The primary data have been collect on the basis of questionnaire. Ithas been administrated by personal interview. Secondary data and information have also been collected from theorganization.FIELD WORK:- This involves the actual field work for collecting the data like goingand meeting the respondents, asking questions and visiting the company toget secondary data.DATA PROCESSING AND ANALYSING PLAN:Data analysis Before we analyze the data we have to consider the character andmessage of the products.. These consumers are charged with motivation notto use any chemical product but to buy only herbal biotic products.Consumers with such total commitment to environmental friendly andAMC 23
  • 24. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDnature-care products are not very common to expect. Such a commitment isbuilt in during the impressionistic age with very strong value education.One of the way to convert non-committal consumers to totally committedconsumers calls for intensive and educative advertisement campaign.Keeping that product line qualitative marketing segment, we have toanalyze the data. The data collected from the three age -group segments ofmiddle and high income consumers could be an indicator only. The totalexercise of population taken in the research data comprises 100 persons.Each of them was asked prearranged questions with close -ended responsein most of the questions leaving one or two open -ended questions. Theinvestigator collected the data from customers and dwelling houses inVivekenagar, Madiwala, jayanagar,Ejipura and Jpnagar. The collection wasmostly at random but within the stratified income group. It is for obviousreasons that I had to choose the area. One might argue that high societypeople generally do not live in the area chosen. The area has more middleclass population. This type of argument is meaningless because the entirecountry’s market application cannot be viewed from a generalized formulaout of such small data. Nevertheless, the data having very strong bias tomiddle or averaging class the result wou ld have a good model-applicationfor generalization applicable to all India tendencies. Let us put below intable I the composition of data and data classification:Method by which Primary data was obtained: 1. Answer to each questionnaire was a study to get data. 2. Questionnaire indicates the number of respondents taken to collect the data. 3. Percentage was derived to find out what percentage of people have respondent with regard to each question. 4. The data was then processed and converted into tabulation and graphs. 5. After that, analysis was done for the data received.AMC 24
  • 25. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED 6. Analysis ultimately provides for the conclusion with recommendations.2.9 OVERVEIW OF THE REPORTCHAPTER -1: General Introduction of the study & Theoretical Background of thestudy: This chapter consists of a brief introduction of the topic as well asthe importance of the topic in the present day’s scenario. It also contains ashort theoretical background to the topic as the related issues that areinvolved to the main theme of the study.CHAPTER -2:DESIGN OF THE STUDY: The chapter explains object for which the study is undertaken, itsimportance in the present scenario, the area of applicability (whichexplains the main target for the study), the identification of the problem inthe study, different sources from which the data is collected, the researchmethodology adopted to complete the research work along with the list ofbibliography used for the study. Bibliography includes both primaryresources as well as the secondary resource s (literature review by eminentauthors, collection of information from the different websites along withthe Nagarjuna Healthcare, various business publications, and above all theresponse of the upper-class housewife).AMC 25
  • 26. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDCHAPTER -3:PROFILE OF THE ORGANISATION: The chapter explains the profile of the organization, growth,development, features of the organization as well as the different kind ofresearch activities undertaken by the organization in meeting the needs ofcustomers.CHAPTER -4ANALYSIS The chapter is reserved to analyze the data so collected byclassifying in accordance to the similarities of the opinion or in accordanceto the difference in the opinion. A comparative analysis of the difference ofopinion so collected vise versa that o f the products of other company ismade. Wherever appropriate the opinion of the customers indicating theirtendency towards the choice of their product of different brands orcompanies is graphically represented.CHAPTER-5CONCLUSIONS AND RECOMMENDATIONS This chapter is the conclusion on the overall inferences drawnthrough the whole of the study. It is in this chapter the ultimate object ofthe study is drawn out and based on the final conclusions appropriaterecommendations are suggested to the organization which provides theorganization a feedback before launching the complete health care productskit into the market.AMC 26
  • 27. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDANNEXURE:Questionnaire: The technique used by the researcher to collect the data.Bibliography: List of references (resources for the research) inchronological order.2.10 LIMITATIONS OF THE STUDY  Some of the respondents are not even willing to give an interview, while some others refused in answering all questions.  As the respondents were scattered all around the district, difficulty was experienced in getting an appointment and the time factor involved are very high.  The respondent’s bias in providing information’s constituted as another major limiting factor.  As such the researcher was compelled to reduce the size of the research canvas. However all possible remedial measures have been taken so as to overcome thepractical difficulty as far asAMC 27
  • 28. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED COMPANY PROFILE3.1 PROFILE OF THE ORGANISATION Nagarjuna is a paradigm shift among Ayurvedic companies in thatNagarjuna was the first corporate House in the Ayurvedic sector in Keralaas a against the family owned Ayurvedic organizations .Beginningcommercial production in 1989, Nagarjuna has today n otched up apreeminent position among frontline Ayurvedic companies, marketing aboard spectrum of Ayurvedic medicines and has achieved commendablesales with national and international presence.THE ENTRPRENEUR Nagarjuna was established in the year 1989 by Sri.V.G.DevadasNampoothirippad with a few expert in the in the field of ayurveda in theboard of management.THE FIRST 1. The first to create synergy between Ayurveda and Ashtavaidia schools of through in Ayurveda. 2. The first to take the franchise model of business to service health needs, on wide scale, particularly to the rural area. 3. The first to provide consistent focus on R&D actives in Ayurveda sector and established a full-fledged facility for the same. 4. The first to create widespread awareness of medicinal plants among people and to make its cultivation a popular as well as income generating programme. 5. The first to use modern promotional method s such as TV advertising on a large scale to propagate Ayurveda.AMC 28
  • 29. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDBACKGROUND Mr Devadas nampoothiripad was the founder of the nagarjuna Pvt.Ltd with a clear vision to bring Ayurveda to society in a contemporaryform and to unravel the mystery behind the 5,000 year old system ofmedicine. This included referring to ancient ayurvedic texts, selectingindigenous herbs and subjecting the formulations to modernpharmacological, toxicological and safety task to create new drugs an dtherapies. Since its inception, the company has focused on developing safe,natural and innovations remedies that will help people lead richer,healthier lives. Today, nagarjuna products have been endorsed by morethan 200,000 doctors around the globe and consumers in over 60 countriesrely on Ayurvedic products for their health and personal care needs. After75 years, nagarjuna has spread its wing to several parts of the globe. Withoffices in Bangalore, tumkur, udupi, Chennai, Kurnool, goa.NagarjunaHealthcare has increased its visibility in several important marketingglobally.Nature of business carried The company is mainly dealing with ayurvedic products and services.Manufacturing of ayurvedic products and development of new medicinesand treatment methods which are suitable and without any side effect to thecustomers.AMC 29
  • 30. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED3.2 Vision, Mission and Quality policy:Vision 1. To be the best solution provider in the health care through Ayurveda. 2. Take actions that strengthen the company and inspire the best in other (by setting an example in relationships, integrity, honesty, humility and hard work).Mission 1. To satisfy each customer’s health needs through well researched, effective and self remedies harnessed from nature’s wealth, 2. To maintain international quality standards, and 3. To maintain customer-friendly prices and proudly participating in securing India’s rightful place in the global economy. 4. Create a new niche in healthcare fraternity. 5. Provide integrated comprehensive clinical s ervices across the entire nation under one roof.Quality policy 1. Focusing on process and customer. 2. Developing and empowering people. 3. Encouraging creativity, innovation and team work. 4. Using effective information technology.General production: The healthcare sector has been growing at a frenetic pace in the pastfew years. The Corporate healthcare Industry is expanding its wings indiverse areas inclusive of clinical services, paramedical outsourcing,Healthcare IT, Pharmaceutical & Biotechnology ar eas , medical research,clinical outsourcing , rehabilitation . The concept of corporate healthcarehas added new dimensions to the entire basket of the services.AMC 30
  • 31. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED Nagarjuna Healthcare brings a gamut of these services in acomprehensive & holistic manner to the society. It envisages a platformsufficing all the needs of healthcare arena from technology, clinicalservices, Pharmaceutical, rehabilitation to outsourcing making it in truesense the global healthcare hub. Nagarjuna Healthcare produces quality p olyherbal formulations. Tomonitor quality, many endangered herbs are grown by the company on itsfarmland. The principles of Good Manufacturing Practices (GMP) arerigorously followed in the plant and the company prides itself beingenvironment friendly. As part of the environment control system, it hasinstalled a modern effluent treatment plant long before regulationsmandated it A high stress on quality, several quality circles and specialprojects teams working on Total Quality Management (TQM) project smake quality a way of life.3.3 PRODUCT PROFILENagarjuna has 427 traditional medicines and 27 patent medicinesA. TRADITIONAL MEDICINESThe important traditional medicines of Nagarjuna are: 1. Arishtams 2. Oils 3. Kuzhambus 4. Ghurutham 5. Lehyams 6. Tablets 7. Avarthis 8. KashayamsAMC 31
  • 32. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED 9. ChoornamsArishtams These are fermented types of medicines prepared adding honey ,Jiggery , sugar and the powder of some medicines including spices .Thesepreparations will have an alcohol content of 6 -10% , which is generateddue to the fermentation process .Self –fermented preparations usingKashayams are called Arishtams and using boiled and cooled water orjuice of herbs is called Asavams.1. Oils These are medicated oils. Decoction juice, milk etc, is added to oilslike sesame oil, coconut oil or and is heated with powdered raw drug, untilthe water content evaporate completely. In this process, the medicinalextracts of the raw drugs make the oils medicated.2. Kuzhambu These are only for external application, unique to Kerala. A mixture ofsesame oil, ghee and castor oil substitutes oil base of medicines forexternal application.3. Ghurutham Ghuruthams are medicated preparations of ghee. Ghee is medicatedby adding decoction, power, juice etc are processing until the gheebecomes medicated add water freely.5. Lehyams Lehyams are semi- solid preparation of drug, prepared with theaddition of jiggery or sugar candy and boiled with the prescribed liquidand fine power of drugs, until the correct constituency is obtained.6. TabletsAMC 32
  • 33. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED The process for these includes extraction of herbs with varioussolvents and concentration of decoctions, mixing and granulation.7. Aavarthies Aavarthies come under the category of medical oil. Here the selectedquantity of oil being medicated by adding medicines repeatedly. Theprocess of medication is repeated to 7, 14, 41, to1 01 times. This enhancesthe potency of oil.8. Kashayams Disintegrated drugs are concentrated and extracted into water. Thedrugs are boiled in water and are concentrated.9. Choornams Choornams are preparation made from into power from using heavy pulverized OVER THE COUNTER PRODUCTS (OTC) Name Packing Ayurvedic tooth powder 50 g Chyavanaprasam 250, 500 g 1 kg Dandruff hair oil 100 ml Digest drops 25 ml Kerapookuladi Lahyams 400 g Kids oil 100 ml Nagarjuna agmark honey 50,100,200,500 g Nagarjuna ayurvedic soap 15,75 g Nagarjuna snana choornam 50 g Nagarjuna thali podi 50 gAMC 33
  • 34. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDB. PATENTS-PROPERIETARY MEDICINES The important patents –proprietary medicines of Nagarjuna are 1. CARDOSTAB TABLET Effective in hypertension due to any cause . 2. GASON It is a strong anti-flatulent drug. 3. HAEMATONE Ideal medicine for splenetic and hepatic disorder . 4. HALIN Effective in common cold, nasal congestion and sinusitis . 5. NAGARJUNA ELADASAMOOLA LEHYAM For all kinds of cough, sore throat and dyspnoea . 6. NATURAL TABLETS For gas troubles in-digestion etc. 7. RHEUMATIC BALM External application in rheumatic etc. 8. SMRITHY GRANULES It improves the normal brain functions. Excellent in i mproving memory, grasping power intelligence thinking power especially in children. 9. THALIS PATHRATHI TABLETS Effective for cough, distaste, spruce and sore throat .10. NAGARJUNA HONEY Honey packed in small bottles for use in homes and with food .AMC 34
  • 35. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDArea of operation The company has not limited its operations to the Boundaries ofKerala alone, but has extended to 17 states outside Kerala. The mainareas of operations are Karnataka, Andhra Pradesh, Goa, Delhi,Maharashtra, Gujarat, U.P, M.P, Rajasthan, Orissa, and Uttaranchal. Nearly150 franchises with services of Doctors and quality medicines are alreadyoperating in outside Kerala. Russia, Sri Lanka, U V, Bahrain etc. are somenew market, which they have opened last year. They have already started atreatment centre in West Indies. Nagarjuna presences in exports nowextend to Asian, South American and Middle East markets, operations haveready been started to countries such as Canada, Kuwait and other GulfCountries, Singapore etc...Unlike the other market, these markets are steady market where thecompany gets consistent businesses.Key personnelManaging director V.G. Devdas NamboodiripadDirectors P.S.Vijayakumar P.P.Namboodiri Leena Devdas V.G.JathaveedanBankers State Bank of TravancoreAMC 35
  • 36. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDCompetitor informationThe major competitors of Nagarjuna Ayurvedic group are the following companies:- i. Kottakkal aryavaidysala ii. Ashtavaidyan Thaikkattu mooss Vaidyarnum Oushadhasala iii. Pankaja Kasthuri herbal India limited iv. Dhanwanthari vaidyasala v. SD Pharmacy vi. OushadiAmong them the most popular or more competing companies are kottakkalaryavaidyasala and oushadi oushadasala. A comparison between Nagarjunaand these companies performance are as follows. PARTICULARS NHCL KOTTAKKAL OUSHADIMARKET SHARE 36% 28% 18%NO.OF 480 505 340PRODUCTSLABOUR FORCE 500 510 400CUSTOMER 71% 69% 58%SATISFACTIONAMC 36
  • 37. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED3.4 ORGANISATION CHART MD Finance Marketing HR Dept R & D Dept Dept Dept Hr Sales Accountants Researchers Executives Executives3.5FUNCTIONAL DEPARTMENT OF THE ORGANISATIONFINANCE DEPARTMENT: Chief financial officer is the head here. Under him is financemanager, finance & systems manager and manager of IT.PHARMACEUTICAL DEPARTMENT: The head of this department is Business head. Under him areSr.Manager Training, Manager of Marketing Service, Group ProductManager and Manager of Distribution.AMC 37
  • 38. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDPERSONAL CARE DEPARTMENT: The head of this department is Business head of Personal Care.Under him is National Sales Manager and Marketing Manager.CONSUMER HEALTH DIVISION: Business head of Consumer Division is the head of this department.Under him is Advertising Manager.ANIMAL HEALTH DEPARTMENT: The head of this department is Business head of Animal HealthDivision. Under him is Business Manager and Product Manager.INTERNATIONAL MARKETING:International Marketing Manager is the head here.CORPORATION COMMUNICATION:Corporate Communication Manager is the head there.HUMAN RESOURCE DEPARTMENT: Human Resource Head is the chief here. Under him is HR SeniorManager, Senior Manger Administration and Legal Manger.AMC 38
  • 39. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDMANUFACTURE DEPARTMENT: The head of this department is Head Manufacturer. Under him areSenior Manager Materials, Senior Manager Engineering S ervice, SeniorManager Production and Senior Manger Planning.QUALITY DEPARTMENT: The head of this department is Head Quality Assurance. Under himis Quality Assurance Manager.AMC 39
  • 40. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDDATA INTERPRETATION AND INTERPRETATION TABLE 1:TABLE SHOWING THE AWARENESS OF AYURVEDIC PRODUCTS. Attributes No of respondents Percentage YES 100 100 NO 0 0 Total 100 100Interpretation:It is observed that in Bangalore City 100% of the respondents are aware ofthe Ayurvedic Products.Inference :The most of the respondents are aware about ayurvedic products.AMC 40
  • 41. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED GRAPH NO 1 GRAPH SHOWING NUMBER OF RESPONDENTS AWARE ABOUT AYURVEDUIC PRODUCTS 120 100 Percentage 80 100 60 40 20 0 0 Yes NoAMC 41
  • 42. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED TABLE 2:TABLE SHOWING NUMBER OF RESPONDENTS USINGAYURVEDUIC PRODUCTS Attributes No of respondents Percentage (%) YES 78 78 NO 19 19 DON’T KNOW 3 3 Total 100 100Interpretation:It is observed that in Bangalore City 78% of the Respondents are usingAyurvedic Products.Inference:From the table it is noted that out of 100 Respondents, 78 of the respondents are usingayurvedic products, 19 of the respondents are not using ayurvedic products and 3respondents don’t know about this productsAMC 42
  • 43. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED GRAPH NO 2GRAPH SHOWING NUMBER OF RESPONDENTS USINGAYURVEDUIC PRODUCTS 90 80 78 70 Percentage 60 50 40 30 19 20 10 3 0 Yes No Don’t KnowAMC 43
  • 44. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED TABLE 3: TABLE SHOWING VARIOUS KINDS OF AYURVEDIC PRODUCTS USING BY THE RESPONDENTS Attributes Score Rank Medicines 34 1 Cosmetics 26 2 Herbal 19 3 Ayurvedic Oil 16 4 Aristam 5 5 .Interpretation:It is observed that in Bangalore City, first importance has given to theMedicines, second importance has been given to the Cosmetics, thirdimportance given to the Herbal, fourth importance has given to AyurvedicOil and last importance is given to the Aristam product.Inference:From the table it is noted that out of 100 Respondents, 34 respondents arechoosen Medicine, 26 respondents have choosen Cosmetics, 19 respondentshas choosen Herbal, 16 respondents are using Ayurvedic oils and 5respondents are using Aristam Products.AMC 44
  • 45. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED GRAPH NO 3 GRAPH SHOWING VARIOUS KINDS OF AYURVEDIC PRODUCTS USING BY THE RESPONDENTS 5 4 Rank 3 2 1AMC 45
  • 46. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED TABLE NO 4: TABLE SHOWING DURATION OF USING AYURVEDIC PRODUCTS Attributes No of respondents Percentage 1 - 2 Years 30 38 2 - 5 Years 21 27 5 - 10 Years 15 20 More than 10 Years 12 15 Total 78 100Interpretation: We can see from the survey that from the past there is an increase inthe respondents for using Ayurvedic products.Inference : It is observed that out of 78 respondents, 30 respondents usingAyurvedic products for 1 to 2 years, 21 of them are using for 2 to 5 years,15 of them are using for 5 to 10 years and 12 of them are using for morethan 10 years.AMC 46
  • 47. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED GRAPH NO 4GRAPH SHOWING DURATION OF USING AYURVEDIC PRODUCTS 38 Percentage 27 20 15 1 to 2 Years 2 to 5 Years 5 to 10 Years More than 10 yearAMC 47
  • 48. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED TABLE NO 5:TABLE SHOWING AYURVEDIC PRODUCTS OFTEN USED BY THERESPONDENTS Attributes No of respondents Percentage Regular 16 21 Some time 44 56 Rarely 18 23 Total 78 100Interpretation: It is observed that in Bangalore City, 21% of the respondents areusing these products regularly, 56% of the respondents are using theseproducts sometimes and 23% percentage of the respondents are using theseproducts rarely.Inference: From the table it is noted that out of 78 respondents, 16 Respondentsare using these products regularly, 44 of the respondents sometimes usingthese products and 18 of the respondents are using these products rarely.AMC 48
  • 49. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED GRAPH NO 5GRAPH SHOWING AYURVEDIC PRODUCTS OFTEN USED BY THERESPONDENTS 56 Percentage 23 21 Some time Rarely RegularAMC 49
  • 50. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED TABLE NO 6:TABLE SHOWING REASONS FOR USING AYURVEDIC PRODUCTS Attributes Score Rank No side effects 420 1 Belief 357 2 Availability 282 3 Other reasons 190 4 Cost effective 181 5 Taste 131 6Interpretation: It is observed that in Bangalore City, more importance of using theseproducts because of no side effects and belief.Inference: It is observed from the table that, 1st rank given to the No sideeffects, 2nd rank given to the Belief, 3rd r ank given to the Availability inthe market, 4th rank given to the others, 5th rank given to the costeffective 6th rank given to the Taste.AMC 50
  • 51. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED GRAPH NO 6GRAPH SHOWING REASONS FOR USING AYURVEDIC PRODUCTS 7 6 6 5 5 4 4 3 3 Rank 2 2 1 1 0AMC 51
  • 52. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED TABLE 7:TABLE SHOWING GETTING INFORMATION ABOUT AYURVEDIC PRODUCTS Attributes Percentage Rank TV 32 1 Magazine 24 2 Doctor 20 3 Internet 13 4 Friends / Relatives 7 5 Others 4 6Interpretation We can see from the survey that TV, Magazines and Doctors are themain Media for getting information about Ayurvedic Products.Inference: It is observed that 1st rank given to the TV, 2nd rank given to theMagazines and, 3rd rank given to the Doctor, 4th rank given to theInternet, 5th rank given to the Friends and Relatives and 6th rank given tothe Others.AMC 52
  • 53. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED GRAPH 7 GRAPH SHOWING GETTING INFORMATION ABOUT AYURVEDIC PRODUCTS 6 5 Rank 4 3 2 1 Magazine Internet Others TV Relatives Doctor Friends /AMC 53
  • 54. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED TABLE NO 8: TABLE SHOWING REFERING FACTORS TO PURCHASE AYURVEDIC PRODUCTS Attributes Score Rank Friends / Relatives 52 1 Doctor 46 2 Culture & Traditions 33 3 Self Belief 12 4Interpretation We can see from the survey that Friends/Relatives and doctor are themain Buying factor of Ayurvedic productsInference: It is observed that, 1st rank has given to the Friends/Relatives, 2ndrank to doctor, 3rd rank given to Culture and Tradition and 4th rank to theself relief which influences respondents to purchase Ayurvedic products.AMC 54
  • 55. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED GRAPH 8GRAPH SHOWING REFERING FACTORS TO PURCHASEAYURVEDIC PRODUCTS 4.5 4 4 3.5 3 3 Rank 2.5 2 2 1.5 1 1 0.5 0 Friends / doctor Culture & self belief Relatives TraditionsAMC 55
  • 56. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED TABLE NO 9: TABLE SHOWING SIGNIFICANT REASON FOR BUYING AYURVEDIC MEDICINAL PRODUCTS Attributes Score Rank Side Effect Factor 66 1 Belief Factor 54 2 Relief Factor 52 3 Cost & saving factor 21 4Interpretation It is observed that No side effect and Belief is a main significantfactor for the respondents to buy the Ayurvedic medicinal products.Inference: We can see from the above table that, 1st rank has given to the NoSide effect factor, 2nd rank to the Belief fact or, 3rd rank to the Relieffactor and 4th rank to the cost & saving factor which has significant reasonfor buying Ayurvedic medicinal products.AMC 56
  • 57. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED GRAPH NO 9 GRAPH SHOWING SIGNIFICANT REASON FOR BUYING AYURVEDIC MEDICINAL PRODUCTS 4 3 Rank 2 1AMC 57
  • 58. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED TABLE 10:TABLE SHOWING WHETHER THE PERFORMANCE OF AYURVEDICPRODUCTS Attributes No of respondents Percentage Highly satisfied 11 14 Satisfied 36 46 Neither satisfied nor 25 32 satisfied Not satisfied 6 8 Total 78 100Interpretation:So, it can be concluded that the most of the respondents are satisfied with ayurvedicproducts.Inference:From the above table shows that the most of the respondents that is 36 respondentsare satisfied with ayurvedic products, 11 respondents are highly satisfied with theayurvedic products, 25 respondents are neither satisfied nor satisfied with theayurvedic products and 6 respondents are not satisfied with the ayurvedic products.AMC 58
  • 59. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED GRAPH NO 10GRAPH SHOWING WHETHER THE PERFORMANCE OF AYURVEDICPRODUCTS 50 45 40 35 Percentage 30 25 20 15 10 5 0 Highly satisfied Neither Not satisfied satisfied satisfied nor satisfiedAMC 59
  • 60. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED TABLE NO 11: TABLE SHOWING MAJOR FACTORS CONTRIBUTE TO BE A SUCCESSFUL AYURVEDIC COMPANY Attributes Score Rank Quality 437 1 No side effects 374 2 Brand Image 302 3 Cost effectiveness 210 4 Easy availability 167 5 Other reasons 73 6 .Interpretation: We can see from the survey that a Success of Ayurvedic companybased on Quality, Brand image and No side effects which is a mainattributes for selecting Ayurvedic products by the respondents.Inference: It is observed that 1st Rank has given to the quality, 2nd rank to theNo Side Effect, 3rd rank to Brand Image, 4th rank to the CostEffectiveness, 5th rank to Easy Availability ad 6th rank to the other reasonswhich is the major factors contribute to be a successful Ayurvedic companyAMC 60
  • 61. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED GRAPH 11 GRAPH SHOWING MAJOR FACTORS CONTRIBUTE TO BE A SUCCESSFUL AYURVEDIC COMPANY 6 5 4 Rank 3 2 1 Quality effectiveness Easy Availability No side effects Brand Image Other reasons CostAMC 61
  • 62. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED TABLE NO 12:TABLE SHOWING RESPONDENTS OPINION ON AVAILABILITY OF AYURVEDIC PRODUCTS Attributes No of respondents Percentage Excellent 2 3 Good 17 22 Satisfactory 28 36 To be improved 22 28 Poor 9 11 Total 78 100Interpretation: From the table out of 100 respondents, 3% of them suggestedExcellent, 22% have them suggested Good, 36 % of them suggestedSatisfactory, 28% of them suggested to be improved and 11% of themsuggested Poor with regards to the availability of Ayurvedic products.Inference: It is observed that out of 78 respondents, 2 of the respondents havesuggested Excellent, 17 of them have suggested Good, 28 of themsuggested Satisfactory, 22 of the respondents have suggested to beimproved and only 9 of them have suggested Poor.AMC 62
  • 63. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED GRAPH NO 12 GRAPH SHOWING RESPONDENTS OPINION ON AVAILABILITY OF AYURVEDIC PRODUCTS 36 28 Percentage 22 11 3AMC 63
  • 64. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED TABLE NO 13: TABLE SHOWING RESPONDENTS OPINION ABOUT THE QUALITY AND RELIEF OBTAINED BY USING AYURVEDIC PRODUCTS Attributes No of respondents Percentage Excellent 10 13 Good 28 36 Satisfactory 36 46 Poor 4 5 Total 78 100Interpretation We can see from the survey that Ayurvedic products used by therespondents have suggested Quality and Relief is an effective tool.Inference: It is observed that out of 78 respondents, 10 of the respondents havesuggested Excellent, 28 of them have suggested Good, 36 of themsuggested Satisfactory and only 4 of them have suggested Poor.AMC 64
  • 65. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED GRAPH NO 13 GRAPH SHOWING RESPONDENTS OPINION ABOUT THE QUALITY AND RELIEF OBTAINED BY USING AYURVEDIC PRODUCTS 46 36 Percentage 13 5 Excellent Good Satisfactory PoorAMC 65
  • 66. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED FINDINGS  It’s found out that 100% of the respondents in Bangalore are aware of Ayurvedic products, where only 78% of them are using Ayurvedic products.  Respondents are using various kinds of Ayurvedic products where they have given more importance to the Medicines, Cosmetics and Herbal and least importance given to the Ayurvedic oil and Aristam.  Reasons of using Ayurvedic products by the respondents are mainly because of No side effects and Belief.  Respondents are getting information regarding Ayurvedic products is mainly through TV, Magazine, Doctor and Internet  It is observed that from the past usage of the Ayurvedic products by the respondents in bangalore is quietly increasing.  It is found out a success of Ayurvedic Company is based on mainly few factors i.e. Quality of the product, no side effects, and brand image.  It is found out that most of the respondents feel good with regards to the quality and relief of Ayurvedic products after using.  Some of the Respondents don’t like Taste of Ayurvedic medicine, that’s why sometimes it hesitate them to purchase.  Respondents don’t necessarily seem t hat the entire family should use only Ayurvedic Products.  Respondents in Bangalore feel that Quality, No Side Effects and Relief are an effective tool of Ayurvedic products.  Respondents are purchasing Ayurvedic products mainly because of No chemicals and No Side Effects.AMC 66
  • 67. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED SUGGESTIONS  Past usage of Ayurvedic products are neglected. Consumers are not much aware about the Ayurvedic products which have come out in the market especially with regards to the Ayurvedic Medicines which keeps them healthy. To make consumers aware about the Ayurvedic products transfer of information is very much necessary. There are few methods were the information can transfer to the consumers which can be done through Advertisement either through audio or visual or both, Magazines.  Whenever the product is to be launched in the market, prior to launching it is quite necessary to collect consumers’ opinion directly by the company.  Distribution counters of the Ayurvedic Company are an importa nt measure to capture in the market which keeps the reputation of the company and there will be sense of choice by the consumers.  Consumers are one of the primary tasks to be carried on by the company for its marketing development which helps in brand identification, benefits in using the products, cost of the products etc.  There should be improvement in the Taste of Ayurvedic medicine, if there is good taste in the medicine, were consumer feels to purchase the products  If there is more availability of Ayurvedic products in the market, automatically consumers come to know about the Ayurvedic products.  Consumers mainly purchase those Ayurvedic products which have brand image in the market and even quality, so for that company needs to come out with the advertisements in the market, were there will be sense of choice by the consumers.AMC 67
  • 68. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITEDAMC 68
  • 69. A STUDY ON MARKET POTENTIAL FOR AYURVEDIC PRODUCTS WITH REFERENCE TONAGARJUNA HERBAL CONCENCENTRATES LIMITED CONCLUSION Nagarjuna Healthcare product is a major force in health care,growing at a spectacular rate - with new clinics, new market strategies,new products, and new cures.Nagarjuna Healthcare product’s main motto t omaintain international quality standards, customer-friendly prices andproudly participating in securing India’s rightful place in the globaleconomy. Consumer demand regarding Ayurvedic products should be basedon their needs. More research is needed prior to the launching of theproducts. Market share of Ayurvedic products depends on market strategyand market potentiality in the market. Thus, Ayurveda is a holistic scienceof wellness based on creating harmony between two fundamentalcomplementary forces, movement, observed in respiration, circulation,digestion, elimination and in the nervous system, and stability whichprovides the structure to support movement. Ayurved a works throughkeeping these forces in balance, which creates harmony with this naturalrhythm found in all life. Harmony reflects itself in wellness just as alldisease grows from an imbalance. Developing new applications,methodologies & innovative techniques to integrate data, information &knowledge to fuel the evolution of Healthcare Informatics industryAMC 69