"Success Case Study: Patanjali Ayurved", is part of the author's Successes and Failures research. It examines the details of and reasons behind the success of Patanjali Ayurved's Ayurveda/herbal products in India. It delivers the critical "what?", "why?", and "so what?" analysis to teach you crucial lessons that increase your chances of launching successful products.
Incorporated in 2006, Patanjali Ayurved is the fastest-growing Indian FMCG company, registering 686% growth in revenues over the four-year period from FY2014 to FY2017. It has been a disruptive company in the Indian FMCG sector, forcing competitors to rethink their product development strategies.
- Patanjali Ayurved’s products have been embraced by consumers, propelling the company to the top echelons of the Indian FMCG industry. The Patanjali brand carved out a niche for itself in the highly competitive market through the premise of ‘’natural and safe’’ products founded on the three pillars of Yoga, Ayurveda (a traditional system of medicine) and Swadeshi (nationalism).
- Patanjali Ayurved leveraged localism, patriotism and pride in national heritage to promote its products. The company captured the existing customer base of competitors through smart product positioning, optimized marketing and distribution strategies, and aggressive pricing.
- The remarkable success of the Patanjali brand demonstrates the importance of brand consistency in building consumer trust and loyalty.
- Increase the potential for success by learning from brands/products that have outperformed: successful innovation can boost profit and reputation.
- Understand the relevant consumer trends and attitudes that drive and support innovation success so you can tap into what is really impacting the industry.
- Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
- Access valuable strategic take-outs to help direct future decision-making and inform new product development.