India’s most emerging FMCG company Patanjali Ayurved Ltd. was founded in January, 2006. Here is the success story of the company.
The company was founded by Baba Ramdev and Acharya Balkrishna. As per the name of the company, the company was selling purely ayurvedic products. At the beginning of the company, it was facing trouble to generate profit.
Just after a few months, both the co-founders decided to change their whole business model. They turned their company to FMCG (Fast Moving Consumer Goods) company.
The company has been scaling up its business for many years by making a large product line. Till now, only Hindustan Unilever and ITC have a large product line. Patanjali has been making fast move and growing faster.
6 Reasons Behind Success Story of Patanjali
1. Market Needs:
Patanjali understood the market needs quickly. While their competitor Baidyanath group was selling all the ayurvedic products as medicine.
Patanjali started all such products in FMCG products. For instance, ‘Dant Manjan’ turned into ‘Dant Kanti’ toothpaste.
2. Number of Products:
The FMCG products became successful. The company started to expand their business and now it is one of the most emerging companies in India.
Categories of products…
- Personal care – Skincare, Haircare, Dental care
- Healthcare – Patanjali fruits, Patanjali ‘Desi Ghee’
- Food products – Patanjali atta noodles, Unpolished URAD WHOLE, Patanjali Biscuits
- Patanjali Medicine
- Patanjali Herber Home care products
All these products are natural and pure.
3. FREE YOGA:
The co-founder of Patanjali Baba Ramdev is teaching YOGA and spreading his knowledge for free. His knowledge is so powerful that people started appreciating his effort towards teaching YOGA. He and Prime minister Narendra Modi are the men behind promoting YOGA to the world.
For that reason, it became a marketing strategy. While teaching YOGA, they are just requesting people to just buy any one product and support them.
And people started buying different products as their needs.
The pricing of all the Patanjali products is always lesser than their competitors. As we all know, India is a cost-sensitive market. That’s why they started gaining more and more consumers.
5. Made in India:
Patanjali started selling their products by saying “Made in India” products. They promoted this thing and business started booming.
However, Nestle, ITC, Hindustan Liver and P&G were also producing their products in India. Patanjali made a smart move to attract more consumers.
6. Retail Stores:
To fulfil the demand of consumers, Patanjali made a big decision to open their retail stores in many cities. This is also one of the biggest reasons for the success of Patanjali.
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