The company who claimed to introduce COVID Medicine
The Haridwar-based company, Patanjali has been growing since the day it’s been started making the daily usage products. In 2019, this company’s estimated turnover was Rs 3,562 crores, as per stated in Economic Times. It is said that most of the profit is because of the good sale of food and beverage products as compared to other products such as chemical-based or botanical products. Even woods and paper products didn’t make such earning as these food and beverage products did. The company has also been getting the foreign investors as per said by the managing director Acharya Balkrishna. Also, the company held several meetings with some of the fund managers in Mumbai in the previous year.
Patanjali Ayurved company was founded in 2006 by Baba Ramdev and its CEO Acharya Balkrishna, so as to establish an Ayurvedic company in accordance with Science and technology. In the past 7 years, the company has reached the heights, whether it is all about food and beverage products, chemical or botanical products. The company has tie-ups with Reliance and other big companies in India as well as in the world.
If being compared to the other companies such as Nestle, P&G, or Hindustan Unilever Ltd.; It has grown in such a short time and hence, became Indian people’s first choice because of its main tagline i.e. Swadesi. Patanjali’s rapid growth has been a serious threat to well-established companies. Also, it has become the fastest growing Indian company, as per said by CEO Acharya Balkrishna. Patanjali has also targeted various aspects of industries such as dairy products, Animal feed products, and Khadi Garments.
As it is an Ayurvedic company, the people who are connected to it i.e. either yoga or chikitsalyas have already become a market for the company. Also, the “Swadeshi” pitch made the business grow like anything. Making a Hindu preacher as its brand ambassador, made the company ready to target the company and this planning made Patanjali a competition to other brands. Patanjali is a non- profitable company, which makes the audience attracted to it. The less pricing of the products made it a hugely successful Indian “Desi” company.
Patanjali’s unusual ways of marketing have been driving other companies crazy. The products with the simpler looks, less price, 0 investment for hiring a brand ambassador, and Chief executive taking 0 salary; all these points make this company more and more influencing day by day. Patanjali is making its consumers more brand loyal and hence, it is successfully making a definite place in the market. These strategies of the company have already made it a huge FMCG as compared to the other FMCG companies. In the past two decades, most of the foreign companies have been taking over India; introduction of Patanjali in the Indian market made a new revolution in the market and also, changed the thinking of the people about an Indian company taking over the whole market and ready to make a rapid growth as compared to other MNCs.
In the end, whether these strategies will make the company to reach the highest peak or these strategies are for temporary success.