Marketing strategy of Patanjali Takes On Industry Giants

Posted by Zander Henry on Aug-22-2018

1. The vision of Patanjali Takes On Industry Giants

The vision of Patanjali Takes On Industry Giants is to be the leading quality service and product provider for customers. Being the best and the leading player means that Patanjali Takes On Industry Giants marketing strategy and operations focus on:

• Providing high quality of products and services
• Providing value to customers
• Concentrate on building customer experience

2. The mission of Patanjali Takes On Industry Giants

Patanjali Takes On Industry Giants marketing strategy is grounded in its mission. The mission for Patanjali Takes On Industry Giants is to be the favorite brand of the customers. This mission is essential for the marketing strategy of Patanjali Takes On Industry Giants as it focuses on all operations and marketing activities in the direction of:

• Consumer centrism
• Using research to understand and influence consumers

3. Brand Equity of Patanjali Takes On Industry Giants

Understanding and knowing the brand equity is vital for directing and giving meaning to the marketing strategy of Patanjali Takes On Industry Giants. The knowledge of brand equity will help in shaping Patanjali Takes On Industry Giants marketing strategy effectively – thereby facilitating the growth of business for Patanjali Takes On Industry Giants.

3.1. Brand awareness

• Patanjali Takes On Industry Giants has high brand awareness because of international operations
• The company focuses on higher budget allocation in the country of origin
• Each market for Patanjali Takes On Industry Giants has modified marketing and strategic directives and plans

3.2. Brand association

• Patanjali Takes On Industry Giants is directly associated with the brand name and product category
• Patanjali Takes On Industry Giants has a broad product portfolio
• Patanjali Takes On Industry Giants is associated with promising and delivering quality and innovative products
• Patanjali Takes On Industry Giants is also associated with excellent customer service

3.3. Brand loyalty

• Patanjali Takes On Industry Giants has been successful at gaining high consumer loyalty because of unique and influential marketing strategy
• Patanjali Takes On Industry Giants has a global customer base
• Patanjali Takes On Industry Giants keeps adding value addition to the products and product portfolio to keep consumers engaged

3.4. Brand asset

• Patanjali Takes On Industry Giants has a substantial brand value
• Patanjali Takes On Industry Giants also enjoys the high financial worth
• Patanjali Takes On Industry Giants focuses on building a reliable and robust employee base

3.5. Brand element

• Patanjali Takes On Industry Giants uses the brand element as a means of competitive advantage
• Uses adaptability in product, services, and marketing to meet different cultural demands

4. Situational Analysis of Patanjali Takes On Industry Giants

The situational analysis will help in developing the marketing strategy of Patanjali Takes On Industry Giants by conducting a thorough market analysis. This market analysis will aid in understanding the compatibility between external opportunities and other factors, and internal strengths – to be used to maximize the marketing influence of Patanjali Takes On Industry Giants.

4.1. SWOT

4.1.1. Strengths

Patanjali Takes On Industry Giants marketing strategy can benefit from the following internal advantages:

• Strong brand image
• Global distribution network
• Investment in market research
• Innovation

4.1.2. Weakness

Patanjali Takes On Industry Giants faces challenges in marketing strategy because of the following weakness:

• Slow organizational processes
• High product prices

4.1.3. Opportunity

Patanjali Takes On Industry Giants has the following possibilities of business growth:

• Green lifestyles
• Regional expansion
• Diversification

4.1.4. Threats

Patanjali Takes On Industry Giants faces business threats because of the following factors:

• Increased competition
• Increased imitation

4.2. PESTEL

4.2.1. Political

• Patanjali Takes On Industry Giants operates I markets with political stability
• Patanjali Takes On Industry Giants has funding support from the government for small businesses

4.2.2. Economic

• Patanjali Takes On Industry Giants enjoys high sales because of higher GDP
• Lower interest rates make business expansion and loaning easier for Patanjali Takes On Industry Giants
• Low inflation strengthens the financial position of Patanjali Takes On Industry Giants

4.2.3. Social

• Higher education and awareness increases sales of Patanjali Takes On Industry Giants predict
• Patanjali Takes On Industry Giants focuses on understanding consumers and fulfilling their demands through its offerings

4.2.4. Environmental

• Patanjali Takes On Industry Giants has an active CSR program
• Patanjali Takes On Industry Giants ensures environmental safety in all its operations

4.2.5. Legal

• Patanjali Takes On Industry Giants is aware of local and global laws of business and human resource management
• Patanjali Takes On Industry Giants abides by all statutes – especially labour law, discrimination law, and employee safety laws

4.3. Porter’s Five Forces

4.3.1. Threat of substitutes

• High risk of replacements
• Substitutes offer similar products at low prices

4.3.2. The threat of new entrants

• New entrants need high financial investment
• New entrants need updated technology for keeping par with industry progress

4.3.3. Bargaining power of buyers

• Sales made to end consumer directly
• Stocking of products at retailers, as well as own-controlled retail outlets

4.3.4. Bargaining power of suppliers

• Multiple suppliers of raw materials
• Suppliers are chosen after careful inspection, and through contracts

4.3.5. Industry rivalry

• High industry rivalry
• Players offer similar products
• Players compete through marketing to influence consumers

5. Marketing Objectives for Patanjali Takes On Industry Giants: The Marketing Strategy of Patanjali Takes On Industry Giants

Patanjali Takes On Industry Giants marketing strategy has the following objectives for the current financial year:

5.1. Increased market penetration

• Increase top of mind recall for Patanjali Takes On Industry Giants brand and products by 30%
• Increase sales for Patanjali Takes On Industry Giants by 40% by the third quarter of the financial year
• Achieve a trial rate for new products of 10% during the first quarter of the launch
• Increase consumption rate of existing products by 45% during the current financial year

5.2. Enhanced brand recognition

• Increase top of mind recall by 65% during the current fiscal year
• Increase brand recognition by 80% during the first two quarters of the current financial year

5.3. Increased use of digital marketing

• Acquire 25,000 new online customers during the financial year
• Increase website traffic through using blogging and email tactics effectively by 505 during the first two quarters of the year
• Acquire 65,000 likes on the official Facebook page of Patanjali Takes On Industry Giants during the first quarter of the financial year

5.4. Retail Growth

• Contract with five more leading supermarkets in the first quarter of the year to stock product at eye level shelving
• Contract with two leading online retail sites – eBay and Amazon – to stock our products, and increase accessibility for consumers globally by the second quarter of the financial year

6. Segmentation of Patanjali Takes On Industry Giants

Patanjali Takes On Industry Giants marketing strategy uses different means of segmentation to reach an increase in market penetration.

6.1. Demographic segmentation

6.1.1. Age

Patanjali Takes On Industry Giants has consumers of age groups

• 20-45 years
• 45-60 years

6.1.2. Gender

• Patanjali Takes On Industry Giants has a broad product portfolio for both males and females

6.1.3. Life-cycle stage

Consumers for Patanjali Takes On Industry Giants, according to the marketing strategy, are in the following various life cycle stages:

• Single students
• Single graduates
• Single people living at home/not living at home
• Young couples without children
• Married couples with one to four children – all at home
• Married couples with one or two children in college
• Old married couples with an empty nest

6.1.4. Occupation

The marketing strategy devises the following occupations for Patanjali Takes On Industry Giants consumers:

• Professionals
• Students
• House makers

6.2. Psychographic segmentation

6.2.1. Social class

• Patanjali Takes On Industry Giants focuses on segments of middle-upper and upper social classes

6.2.2. Lifestyle

Patanjali Takes On Industry Giants consumer segments have the following lifestyle characteristics:

• They aspire towards a better and higher living standard
• They want to be successful – professionally and socially
• They are not hesitant to try new things, products and services in life
• They are confident in their behaviour and attitude
• They are mainstreamers in their fields

6.3. Geographic segmentation

6.3.1. Region

• Patanjali Takes On Industry Giants has operations spread across the western developed countries such as America, the united kingdom, and the Netherlands
• It also has operations in emerging markets such as Brazil, India, and China

6.3.2. Density

• The focus of Patanjali Takes On Industry Giants remains on the urban part of the population

6.4. Behavioural segmentation

6.4.1. Personality

The marketing strategy defines personality characteristics for the consumers of the brand of Patanjali Takes On Industry Giants, such as:

• Determined
• Confident
• Ambitious
• Hardworking

6.4.2. Usage frequency

• The consumer segments for Patanjali Takes On Industry Giants are regular and frequent users of the product

6.4.3. Benefits sought

• Consumers seek functional benefits
• The focus, however, is more on the emotional benefits reaped from the consumption of the brand

6.4.4. Degree of loyalty

• Consumers are very loyal
• Have an emotional attachment with the brand

7. Targeting of Patanjali Takes On Industry Giants Positioning of Patanjali Takes On Industry Giants

The marketing strategy of Patanjali Takes On Industry Giants targets consumer groups based on segmentation as follows:

7.1. Target market

• The target market for Patanjali Takes On Industry Giants is from middle to upper class
• The target market is ambitious and desires to purchase high-end consumer products
• This target market also seeks affordability
• To meet target market expectations, the Patanjali Takes On Industry Giants focuses on quality control

7.2. Mass marketing

• The marketing strategy of Patanjali Takes On Industry Giants focuses on mass marketing
• This also requires unique marketing designs and product promotion programs
• Patanjali Takes On Industry Giants makes use of one strategy to influence all segments

7.3. Undifferentiated marketing strategy

• Patanjali Takes On Industry Giants does not differentiate between market segments
• It uses a single marketing strategy to target all segments and consumer groups
• Based on this, Patanjali Takes On Industry Giants also created the marketing mix under the marketing strategy as a singular one for the whole market – regardless of the segmentation divides.

7.4. Focus on quality

• Patanjali Takes On Industry Giants has created, developed, and maintained a brand that satisfies all consumers under the undifferentiated marketing strategy and mass marketing
• No compromise on quality has been made in the broad product portfolio
• To ensure the influence of a single marketing strategy, the Patanjali Takes On Industry Giants has also adopted a consumer-centric approach in its overall marketing strategy and operations as well
• This was used for targeting strategy as well as for maintaining growth

8. Company Competitive Advantage in the marketing strategy of Patanjali Takes On Industry Giants

The marketing strategy of Patanjali Takes On Industry Giants stands out from the clutter and competition. Patanjali Takes On Industry Giants has also achieved a sustainable competitive advantage in its marketing strategy. This is because of the following factors that Patanjali Takes On Industry Giants has utilized:

8.1. Cost-effectiveness

• Patanjali Takes On Industry Giants focuses on reaching consumers effectively rather than grandeur
• Patanjali Takes On Industry Giants focuses on developing an integrated marketing approach
• The use of digital marketing efficiently and expertly has helped the company reach a wider audience at a lower cost
• Patanjali Takes On Industry Giants has in-house copywriters for marketing campaigns which also helps in controlling costs
• Patanjali Takes On Industry Giants also focuses efforts on ground activities – which are less expensive than commercial marketing tactics

8.2. Innovation

• Patanjali Takes On Industry Giants has stayed updated with latest developments in marketing research and marketing knowledge
• Patanjali Takes On Industry Giants makes use of new and innovative tactics to reach its target consumers
• Patanjali Takes On Industry Giants also employs top of the field marketers to facilitate its marketing strategy and promotional campaigns
• Each marketing campaign launched by Patanjali Takes On Industry Giants is effective catchier and more influential than the previous one

8.3. Strong market research and consumer understanding grounded

• Patanjali Takes On Industry Giants marketing strategy is strongly grounded in consumer and market research
• Patanjali Takes On Industry Giants makes informed marketing campaigns and goals based on consumers’ behavioural feedback
• Patanjali Takes On Industry Giants also incorporates consumer feedback in its marketing strategy
• Patanjali Takes On Industry Giants marketing strategy is based on market trends, and consumer needs and wants

8.4. Making effective use of emotional appeals

• Consumers’ emotional needs strongly influence all marketing objectives and marketing goals set by Patanjali Takes On Industry Giants
• In addition to fulfilling functional needs, Patanjali Takes On Industry Giants also tries to fulfil the emotional and psychological needs of the consumer
• Patanjali Takes On Industry Giants tries to build a strong emotional bond with the consumer, which also results in high consumer loyalty

9. Distribution Strategy of Patanjali Takes On Industry Giants

Patanjali Takes On Industry Giants marketing strategy highlights the use of the following distribution strategy to maximize reach and accessibility for consumers.

9.1. Intensive distribution strategy

• Patanjali Takes On Industry Giants makes use of intensive distribution strategy because it is mass marketing
• Patanjali Takes On Industry Giants’s marketing strategy is based on undifferentiated segments, and thus an intensive distribution strategy allows high penetration and reaches in the overall market
• With the use of the intensive distribution, Patanjali Takes On Industry Giants tries to maximise its coverage of the markets where it's present
• For achieving the intensive strategy, the company uses hardcore 360-degree integrated marketing strategy and campaign to reach all consumers, across all segments in the market.

9.2. Direct distribution strategy

• Patanjali Takes On Industry Giants uses direct distribution country of origin as well as in locations where it has subsidiary operations
• The Patanjali Takes On Industry Giants also makes use of modern retailing channels
• Also, Patanjali Takes On Industry Giants makes use of e-commerce and makes a sale through online retailers, as well as through the company website
• Direct distributions have allowed Patanjali Takes On Industry Giants to increase market penetration and accessibility for consumers

9.3. Indirect distribution strategy

• This strategy is largely used for offshore operations where the Patanjali Takes On Industry Giants does not have a subsidiary
• In these offshore locations, Patanjali Takes On Industry Giants largely works through the export model
• This makes use of several intermediaries in between, before the product by Patanjali Takes On Industry Giants reaches the target consumers
• Intermediaries for Patanjali Takes On Industry Giants include not only the end retail outlets, but also sales agents, retail agents, and distribution agents in offshore locations

9.4. Selective distribution strategy

• For some products of its portfolio which are premium in nature, Patanjali Takes On Industry Giants makes use of selective distribution channel
• Patanjali Takes On Industry Giants has maintained a few outlets in the country of origin, and in selected offshore markets for these products
• These placements and locations are chosen based on the niche market that Patanjali Takes On Industry Giants has for its premium products
• These locations, placements, and marketing strategy helps make the company’s product selectively, but readily accessible for its niche target audience

10. Competition Analysis in the marketing strategy of Patanjali Takes On Industry Giants

The industry in which Patanjali Takes On Industry Giants operates is very responsive to market and consumer trends. Patanjali Takes On Industry Giants, therefore, needs to be vigilant in its market strategy towards competition – to make sure that it maintains its competitive advantage.

10.1. Strategic Group Analysis

• Patanjali Takes On Industry Giants competes with direct and close competition based on quality and price
• Consumers choose between different companies from the industry based on their functional offering
• Consumers have progressively evolved to strengthen loyalty and form an emotional bond with products that they consume
• Patanjali Takes On Industry Giants also competes, thereby, with close competition for building stronger brand image, increasing consume loyalty, and for forming strong emotional ties with the consumer

10.2. Industry rivalry

• Patanjali Takes On Industry Giants experiences high industry rivalry
• The barriers to entry for the industry are low, and new entrants gain easy access in the industry
• The number of local as well as global players is increasing

11. Marketing mix of Patanjali Takes On Industry Giants

The marketing mix for Patanjali Takes On Industry Giants as per the marketing strategy is the following:

11.1. Product

• Patanjali Takes On Industry Giants has a broad product portfolio
• Patanjali Takes On Industry Giants provides mass marketed products for all segments across the market undifferentiated
• Patanjali Takes On Industry Giants also provides some selected, premium products to niche customer groups
• All products in the portfolio consistently maintain high quality
• All products are tailored to meet consumer specifications, demands and needs across different regional markets
• The Patanjali Takes On Industry Giants maintains a high focus on innovation in products and introduces new products frequently to keep the consumers engaged

11.2. Place

• Patanjali Takes On Industry Giants wants to have a close, emotional and personal relationship with its consumers
• The company maintains high control in its distribution strategies – especially through direct distribution strategy
• The company has a presence in leading supermarkets
• The Patanjali Takes On Industry Giants also has company-operated stores in malls, and otherwise to make products accessible to consumers easily
• Patanjali Takes On Industry Giants also makes use of e-commerce to increase penetration and sales

11.3. Price

• The Patanjali Takes On Industry Giants prices its products so that its target consumers can afford it easily
• Patanjali Takes On Industry Giants uses relative pricing strategy for its products
• The price of Patanjali Takes On Industry Giants’s products include not only the high quality raw materials and value additions but also the enhanced customer experience they deliver
• The company’s pricing strategy allows it to enjoy stable revenue and profit growth

11.4. Promotion

• The Patanjali Takes On Industry Giants has a high budget allocated towards marketing activities
• The Patanjali Takes On Industry Giants invests substantially in digital marketing activities to reap high and effective results
• Use of digital marketing has also allowed Patanjali Takes On Industry Giants marketing strategy to cap costs and expenses
• Patanjali Takes On Industry Giants also takes part in direct consumer engagement through on-ground activities where the company initiates trials
• Patanjali Takes On Industry Giants also invests in traditional media channels to reach maximum consumers in the market

11.5. People

• Patanjali Takes On Industry Giants has a large workforce across different companies
• This workforce is continually trained to become experts in their respective fields of operations
• Patanjali Takes On Industry Giants hires without discrimination
• Patanjali Takes On Industry Giants ensures that its employees remain motivated through building an inspirational and creative organizational culture
• Patanjali Takes On Industry Giants focuses on also building and maintaining organizational commitment and loyalty in its employees

11.6. Process

• All activities at Patanjali Takes On Industry Giants - from raw material procurement to the final sale to the end consumer - undergo systematic processes
• The processes at Patanjali Takes On Industry Giants are well defined, and well communicated to all employees
• All employees are trained to follow the processes internally to ensure consistently high quality as well as timely production and deliveries
• The systematic processes also ensure a smooth running of operations at the Patanjali Takes On Industry Giants

11.7. Physical evidence

• The physical evidence for Patanjali Takes On Industry Giants includes the company logo, company store designs, and the product packaging
• Satisfied and excited customers in the retail spaces of Patanjali Takes On Industry Giants, as well as during product consumption create a bubbling and an inviting atmosphere
• The e-commerce website for retail by Patanjali Takes On Industry Giants is also designed with a friendly customer interface to allow maximum interaction with the brand
• The store designs created by Patanjali Takes On Industry Giants for its retail space allow consumers maximum interaction with the products directly.

12. Promotional tactics for the marketing strategy of Patanjali Takes On Industry Giants

12.1. Digital marketing

• The company uses social media for reaching consumers effectively
• The Patanjali Takes On Industry Giants interacts with the consumers directly, and engages with them, answers their queries and takes their feedback
• The company also shares information and build relationships with consumers through digital marketing
• Patanjali Takes On Industry Giants also makes use of blogging, emails, and content creations as a means of digital marketing

12.2. Conventional marketing

• The company uses a 360-degree approach in its marketing strategy
• This means that the company makes use of traditional marketing channels as well – such as TV, magazine adverts, and out of house placements

12.3. Influencers

• For direct, on-ground engagement, the company uses influencers
• Influencers interact with consumers directly, or through their channels of communication as a means of content creation and endorsing the Patanjali Takes On Industry Giants brand

13. Monitoring and evaluation of the marketing strategy of Patanjali Takes On Industry Giants

13.1. Changes in sales

• Patanjali Takes On Industry Giants regularly tracks its sales to identify the effectiveness of its marketing strategy
• Increase in sales reflect the success of marketing strategy of Patanjali Takes On Industry Giants
• Sometimes, Patanjali Takes On Industry Giants experiences increase ins ae after some time of the launch of the marketing promotions

13.2. Surveys and focus groups

• Patanjali Takes On Industry Giants frequently conducts focus groups and surveys to identify its brand worth
• These methods also help the company identify brand value, brand recall, and brand recognition
• Focus groups allow Patanjali Takes On Industry Giants to gather feedback on its marketing strategy and helps it understand consumers better

13.3. ROI

• Effectiveness of marketing strategy of Patanjali Takes On Industry Giants can also be seen through the revenue and profit growth
• Return on investment allows Patanjali Takes On Industry Giants to effective gauge the effect and influence of the marketing strategy, and measure its success

13.4. Attainment of marketing objectives

• All marketing objectives set by Patanjali Takes On Industry Giants are SMART
• The quantitative set against each of the marketing objective can facilitate attainment evaluation for the overall marketing strategy
• Successful and timely attainment of these marketing objectives highlight the success of the marketing strategy of Patanjali Takes On Industry Giants