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The brand and how the company builds that brand are among the most
important aspects of the marketing efforts. Branding decision determines how
the company is perceived by both present and future customers, what the
products and service convey to the public, and can provide a competitive
advantage in a saturated market. Establishing a strong brand is essential to
building and maintaining a loyal customer base.
Customers need to know why they should buy a products or service, what benefit
they will obtain from using it, and how it will enhance their life. The associations
they make with the brand, whether through perception or through action,
strongly influence purchasing decision and impact a company's growth and profit
margin. Marketing depends on managing the relationship between brand and
the customer perception.
Satisfying the wants and needs of the customer is both a goal and a marketing
tool. In this age of competition, every producer wants to capture the major share
of market. It is difficult to establish a brand and expense of advertising in the,
initial stage is very high which raises costs.
Brand equity is not only an indicator of customer's loyalty, but also essential tool
to guide. The present study attempts to measure the brand equity of Nagarjuna
Herbal Concentrates Limited Thodupuzha. 1.3 OBJECTIVES OF THE STUDY The
project study was conducted with 100 Ayurveda customers to measure the brand
equity of the major brands.
In-depth interview was also conducted with managerial personnel to access the
opinion about the category. Convince sampling method was adopted to access
the opinion about the category. Convince sampling method was adopted for the
customer study. A simple random method is used to get inference about the
consumer's opinion.
The area of study was Ernakulam District The sample size was 100 Ayurvedic
customer, 100 houses were visited and conducted personnel interview to get the
questionnaire filled. 4 To measure the brand equality? Consumer based Attribute
oriented brand equity measurement method was used where the different
attribute of the brand are listed down in the questionnaire and the customers are
requested to rank in a 0-5 scale and total consumer equity was measured.
Research means search for knowledge.
Sample Size The sample size considering the nature and importance of the
problem was fixed as 100, Sampling method For the study, simple random
sampling method was used. 1.4.3. Process of Data Primary Data The primary data
are those data which are collected by the investigator for the first time. The
primary data was collected with the help of a survey using questionnaire.
The investigator has also made a face to face interaction to get the exact data5
since majority of the respondents were illiterate. 5 Secondary Data The data
secondary data are those which are already gathered, have been collected
originally for some other purpose. The investigator collected data from the
company files and various records. The investigations made use of number of
books and papers on organizational culture.
The data should also be collected from internet by the investigator. 1.4.4. Tools
for analysis The data collected for the study was analyzed by the percentage
method, Chi Square Test. 1.4.5 Limitation 1. The sample size only 100. 2.
Respondent opinion may change over time. 3. Time period only 1 month 1.4.6
Chapterisation The report of the study is presented in 4 chapters.
Branding is on important decision .the brand can add significant value when its
well-recognized and as positive association in the mind of the consumer this
concept is referred to as brand equity Brand According to American marketing
association a brand is defined as the use of name term symbol or design, or
some combination of these to identify the product of aceinser rothse comtitoabd
tif epuf buyers. A seller can earn the goodwill and have the patronage repeated.
Once a consumer has developed a brand loyalty, it is hard to change his attitude
towards that brand. Brand switching Brand switching can be defined as the
changing of consumer preference and use from one brand to another brand of a
product quality, price etc. Brand equity Brand equity is an asset. Brand equity
refer to the power of brand in the market place.
A powerful brand has high brand equity and customers will stick to that brand. A
weak brand has less brand equity and customer major contributor to customer
equity. The proper focus of marketing planning is to extend customer life time
value, with brand management serving as a major marketing tool. 9 Strength of
brand equity to a company ? Strong brand equity offers the following advantages
to a company.
? The company will have more trade leverage in bargaining with distributors and
retailers and because customers accept them to carry the brand. ? The company
can charge a higher price than its competitors because the brand carries high
perceived quality. ? The company cans more easily launch extensions because the
brand name carries high credibility. ? The brand offers the company some
defense against price competition.
The brand equity concept has been mentioned in more than one of the
previously analyzed models. But what exactly is brand equity? Brand equity, as
first defined by Fahr 8), “the‘addva’ nbdendws pu (p. 4Art romFarquafdefofbneity,
thedinitios a appeared. According to Lascar, Mittal, and Sharma (1995), brand
equity has been examined from a financial (Farquhar, Han, and Ijiri 1991; Simon
and Sullivan 1993; Kapferer 1997, Doyle 2001b), and a customer-based
perspective (Keller 1993; Shocker, Srivastava, and Rueckert 1994; Chen 2001).
In other words, financial meaning from the perspective of the value of the brand
to the firm, and customer- based meaning the value of the brand for the
customer which comes from a marketing decision-making context (Kim, Kim, and
An 2003). Bdeity aabendinda“th hcemnt theprceduad dsiraility ran am nfeo
roduct” ssa , Mittal and Sharma 1995, p. 13).
dineCBB s iffretiaeffct t ran wled aonconer respn emrketino ab” 6), ich
mrgefmtwosorces: brand awareness and brand image. According to Keller
(2003a), brand awareness consists of brand recognition – the “coneabtocoirm
rioeore theb egive randaa cu” 6) - and brand recall - th sumr’s btoretrieveth ran
rm memory when given the product category, the needs fulfilled by the category,
or a prcha r sa a s ” 67Onth ehnd“bran geis created by marketing programs that
link strong, favorable, and unique associations toth ran th mry” 7).
ea ociations are not only controlled by the marketing program, but also through
direct experience, brand information, word of mouth, assumptions of the brand
itself -name, logo- , r eb’s identification with a certain company, country,
distribution channel, person, place or event. WalfriedLassar, Banwari Mittal, Arun
Sharma, (1995) "Measuring customer- based brand equity", Journal of Consumer
Marketing, says that Brand equity is very important to marketers of consumer
goods and services. Brand equity facilitates in the effectiveness of brand
extensions and brand introductions.
This is because consumers who trust and display loyalty toward a brand are
willing to try to adopt brand extensions. While there have been methods to
measure the financial value of brand equity, measurement of customer-based
brand equity has been lacking. Presents a scale to measure customer-based
brand equity.
The customer-based brand equity scale is developed based on the five
underlying dimensions of brand 11 equity: performance, value, social image,
trustworthiness and commitment. In empirical tests, brands that scored higher on
the customer-based brand equity scale generally had higher prices. Discusses the
implications for managers. Kevin La Keean.,
99)” Journal of Ma rkting” says that A brand is said to have positive (negative)
customer-based brand equity when consumers react more (less) favorably to an
element of the marketing mix for the brand than they do to the same marketing
mix element when it is attributed to a fictitiously named or unnamed version of
the product or service. Brand knowledge is conceptualized according to an
associative network memory model in terms of two components, brand
awareness and brand image (i. e.,
INDUSTRY PROFILE ABOUT AYURVEDA Ayurveda the knowledge of the life and
longevity has a history as long as human civilization. Ayurveda is a system that
prevented 5000 years ago. Ayurveda is a Sanskrit word which means science of
life. It is Indians timeless gift to mankind. The different types of treatments like
allopathic treatment, homeopathic treatment etc.
Among the different systems, Ayurveda focuses on the general health and life of
the individuals. The treatment is the most means removing the root cause.
Ayurvedic treatment does not mean suppressing the main symptoms and
creating some new ones a side effect of the main treatment. AYURVEDA IN
KERALA The mythology says that Kerala has reclaimed from the sea by the great
sage Prasurama.
Then he brought sixty-four Brahmin families from other parts of India and gifted
them the land so reclaimed. Among them eighteen families were versed in
Asthana or eight parts of Ayurveda and they were known as Ashtavydyas. Now
only some of these families exists. The Ayurveda tradition in Kerala has
contributed a lot 12 to Ayurveda, some of them are ChikitsaManjari,
JyolsnikaVydyaManorama, Panchakarma or Sodhanachikitsa, Chikistsakouthuka,
YogaratnaSamuchayam, Kriyakoumudi, Sahasrayogametc, So many good
physicians were also there from the people of lower casts like Mannam, Ezhava
etc., but they did not get that much Popularity because of die caste-based culture
prevailed at that time in Kerala.
In the last century and in the beginning of the nineteenth century the practice of
Ayurveda happened to perish due to several reasons like:- 1. People's ignorance
about Ayurveda and other Indian science and their tendency to imitate
westerners. 2. Foreign invasion and their tendency to degrade Indian sciences to
promote their own culture. 3.
Now a days to cop up with the features of present life, researchers are going on
for making the medicines for quick action and easy administration as tables,
capsules etc Major Ayurvedic Pharmaceutical companies in Kerala Company
Name Average turnover (Crores) KottackalAryavaidyasala 100 Nagarjuna Group
40 13 VaidyaratnamThykkadMooss 14 Oushadhi 13 Kerala Ayurveda Pharmacy 10
Santhigiri 7 SD Pharmacy 7 Seetharam 6 TABLE: 1.6.1
Among the different systems, Ayurveda focuses on the general health and life of
the individuals. The treatment form is the most important part in Ayurvedic
system of medicine. MERITS OF AYURVEDA a) It provides complete cure b) It has
no side effective i.e., safe for the body and does not bring other diseases.
14 The total Ayurveda market in Kerala is nearly 250 crores and in India it may be
nearly 1500 crores, but the scope of the industry is not growing are. >
Inconvenience of consumption of Ayurvedic products > Comparatively long
duration of treatment > Lack of research in the field of Ayurveda to fulfill the
demands of customers.
> Comparatively high price of the product 15 | Page These are the reasons why
Nagarjuna has taken steps for researching the above- mentioned issues by
establishing a well-equipped, technologically advanced research & development
wing. The main aim of the wing is to make Nagarjuna products in convenience
forms at reduced price without affecting the quality.
Kashaya Capsules, Syrups & Tables are examples for this. This will bring more
customers to Ayurveda. Another major problem facing by the industry is the
scarcity of medicinal plants and trees. Nagarjuna put various efforts in the
preservation and cultivation of medicinal plants through various social projects
Nagarjuna strongly believes that customer is the king in modern market and their
satisfaction in the foundation of the growth of the company.
With the growth of the company it wants to ensure the overall growth of industry
to protect the real value of Ayurveda from misuse and degradation. 15 1.7.
COMPANY PROFILE NAGARJUNA HERBAL CONCENTRATES LTD. Has established
as a public limited company in 1989 and is engaged in production and marketing
of all kinds of Ayurvedic medicines and popularizing the indigenous system of
medicine in our country. The basic aim of NAGARJUNA is restoring Ayurveda as
mainstream health management system. Mr. V.
The Company has therefore, made a determined entry into the areas of potential
formulations. NAGARJUMA HERBAL CONCENTRATES LTD is the first corporate
house in the Ayurvedic sector in Kerala providing employment to over 1200
persons directly and indirectly. Its manufacturing facilities are located at Alakode,
6 km form Thodupuzha in Idukki District of Kerala.
The construction of the company started in the year 1985, and commissioned on
October 1989. In the beginning, company had only 87 agencies but now the
authorized agency is 930 and it is spreading throughout the state. At present
there are 800 direct employees and 1500 indirect employees. The company has a
product range of 600 medicines.
The Kerala state Industrial Development Corporation Ltd. And Kerala financial
corporation have financial interest in the company. The marketing operations of
Nagarjuna are organized through over 930 agencies and hundreds of stockiest to
make the medicines available not only at every nook & comer of the state but
also in Tamil Nadu, Karnataka, Andhra Pradesh, Goa, New Delhi, Gujarat,
Maharashtra, Madhya Pradesh & Orissa.
COMPANY VISION "To be the best solution provider in health care through
Ayurveda" The NagarjunaAyurvedic group, a leading name in Ayurveda is led by
the vision to provide a new lease of life through quality medicines and holistic
ayurvedic medicines which include a range of proprietary products in a state of
the art facility that follows the traditions of the ancient, Ayurvedic texts while
meeting modern standards of hygiene and purity.
These medicines are sold through a wide network of over 1000 outlets in pans of
the publications said that "Medicine is neither your friend nor your "enemy' you
can make it either." THE FIRST Nagarjuna has several first to its credit some of
these are: > The first to create synergy between Ayurvedic and Ashtavaidya
schools of thought in Ayurveda.
- > The first to take the franchise model of business to service health needs, on a
wide scale, across the state of Kerala, particularly to the rural areas. > The first to
provide consistent focus on R & D activities in Ayurveda sector in Kerala and to
establish a full-fledged facility for the same. > The first to create widespread
awareness of medicinal plants among people and to make its cultivation a
popular as well as income generating programs.
Creating public awareness and promoting herbal Cultivation State of the art
manufacturing facility. >Strong backup of Nagarjuna Research Foundation for
quality Ayurvedic formulation. NAGARJUNA AYURVEDIC GROUPS Nagarjuna is a
paradigm shift among Ayurvedic companies in the Nagarjuna was the first
corporate House in the Ayurvedic sector in Kerala as against the family owned
Ayurvedic organizations.
Besides this, the Company has developed more than 40 patent preparations
which has proved efficient for controlling blood pressure and a host of various
ailments related to Rheumatic, Gynecological, Diabetic and Ant rectal diseases.
Nagarjuna Herbal concentrates Ltd is a holding company of two companies
named NagarjunaAyurvedic Centre Ltd and Nagarjuna Ayurvedic Retreat Ltd.
? Nagarjuna Research and Development The Nagarjuna Group field's the second
position in the industry Situated at Alakode, Thodupuzha some of its activities are
standardization of Ayurvedic medicine and new products development. Recently
Nagarjuna R&D acquired automatic absorption spectrophotometer for the
analysis of heavy metals like Arsenci, Mercury, Nicket, Cadmium and Led.
? The team led by persons of experience and creativity are focusing at: 1. Raw
material standardization & sharing of technology with the industry 2. Product
development with proof in allopathic language 3. Process of R & D for
production standardization 4. Presenting the traditional products in the modern
convenient forms.
The center at Kalady has become the preferred destination for westerners &
persons for the other states seeking serious ayurvedic treatment. The center has
won the converted "Green Leaf certification for the Government, of Kerala,
awarded to those center. The center has also won "The best ayurvediccentre
award" for 2003 given by Kerala Government.
The operations are organized under watchful eyes of highly talented and deeply
dedicated team of doctors and health scientists. Nagarjuna Marketing Network
Nagarjuna has a wide marketing network, which includes over 800 retail outlets in
Kerala and over 1000 outside the state. These agencies are serviced by sales
depots. There are 4 sales depots in Kerala in place such as shornur, Vadakara,
Muvattupuzha and Mavelikkara.
The marketing operations of Nagarjuna are organized through over 650 agencies
and hundreds of stockiest, to make the medicines available at every nook &
corner of the state. 23 Organization Chart of Nagarjuna Herbal Concentrates Ltd.
M.D E.D C.E F.M D.M A.M A.O A.A A.C M.M D.M A.M S.O S.OR M.O C.A PR.M PR.D
PR.A W PE.M PE.D PE.R 24 MARKETING DEPARTMENT Nagarjuna has emerged as
one of the top-most leader of Ayurveda market in Kerala by means of its
marketing strength.
The core of the marketing network is a chain of exclusive franchisee clinics spread
over the states of India namely Kerala, Tamil Nadu, Karnataka, Andhra Pradesh,
Maharashtra, Gujarat, Goa and Delhi etc. Nagarjuna has a wide marketing
network; which includes over 800 franchises outlets in Kerala and over 150
franchises outside the state.
The generic division is under a regional sales manager and four area sales
managers and twenty marketing executives to support him. 25 Ethical division:
This division handles marketing of ethical products for e.g. Cardostab,
Haematonetc.One regional sales manager heads this ethical division and four
sales managers And twenty marketing executives to support him, about 15% of
turnover of the company come from this division. OTC division: This division
deals with the marketing of consumer products.
These products are sold to agencies, other Ayurvedic agencies and consumer
retail shops and nearly 10% of the company's turnover is derived from this
division. The administration of the marketing division is done through four areas
of business offices located at Vadakkara, shornuur, Muvattupula and
Mavelikkaraa. The medicines required for the market is transferred to the four
area business offices and supplies are made to the agencies or other outlets from
these depots.
For this analysis various statistical tools can be applied. The detailed analysis and
interpretation of each sub study is as following. 28 1. Gender Of The Respondents
Category. No. of Respondents. Percentage (%). Male 68 68 Female 32 32 Total
100 100 Table 2.1 Chart 2.1 Interpretation Out of the total 100 respondents
surveyed 68 %of the respondents (a maximum) are males 32% of the
respondents are females. Male Female 29 2.
Others Series1 33 6. How did you know about the product? Category. No: Of
Respondent. Percentage (%). News paper 21 21 Television 46 46 Internet 08 09
Other Medias 25 24 Total 100 100 Table 2.6 Chart 2.6 Interpretation From the
above table, we can identify that the most of customers are known about the
product through Television 0 5 10 15 20 25 30 35 40 45 50 News paper Television
Internet Other Medias Series1 34 7. How do you feel about the product?
Category. No: Of Respondent. Percentage (%).
Percentage (%). Yes 20 20 No 80 80 Total 100 100 Table 2.10 Chart 2.10
Interpretation From the above table, we can analyze that only 20 % have the
preference in replacing the brand. 0 10 20 30 40 50 60 70 80 90 Yes No Series1
38 11. Would you recommend Nagarjuna. to others? Category. No: Of
Respondent. Percentage (%).
High 19 19 Moderate 45 45 Low 36 36 Total 100 100 Table 2.14 Chart 2.14
Interpretation From the above table, we can analyze that out of the 100
respondents, 45% respondents says that price of Nagarjuna is moderate and 36%
says low when compare to other products. 0 5 10 15 20 25 30 35 40 45 50 High
Moderate Low Series1 42 15. Is Nagarjuna the best in market? Category. No: Of
Respondent.
No: Of Respondent. Percentage (%). Yes 67 67 No 33 33 Total 100 100 Table 2.16
Chart 2.16 Interpretation From the above table, we can analyze that 67 % can
recall the ads regarding the nagarguna. 0 10 20 30 40 50 60 70 80 Yes No Series1
46 17. While think about the product, what comes first in mind? Category No: Of
Respondent Percentage (%) Quality 25 25 Quantity 22 22 Price 34 34
Advertisement 19 19 Total 100 100 Table 2.17 Chart 2.17 Interpretation From the
above table, while think about the product price comes first in mind.
H1: There is a significant relationship between the Income and price rate of
customer towards the Nagarjunaproducts. Table 2.18 Price rate Income Highly
Satisfied Satisfied Neutral Dissatisfied Highly Dissatisfie d Total <25000 p.m 10 15
11 00 00 36 25000-35000 p.m 05 19 15 00 00 39 >35000 p.m 15 00 06 04 00 25
Total 30 34 32 04 00 100 49 Table 2.19 X2=D (0-E) 2/E =33.88 Calculated value,
X0.05=33.88 Table value of 5% =15.507 Therefore it is clear that the calculated
value at 5% level of significance is less than that of table value.
INTERPRETATION: Since the calculated value less than the table value, we accept
the hypothesis and it is concluded there is no significant relationship between the
Income and price rate of customer towards the Nagarjuna products. . Observed
Frequency Expected Frequency O-E (0-E)2 (0-E)2/E 10 10.8 -0.8 0.64 0.059 15
12.24 2.76 7.6 0.062 11 11.52 -0.52 0.27 0.023 00 1.44 -1.44 2.07 1.44 00 00 00 00
00 05 11.70 -6.7 44.89 3.84 19 13.26 5.74 32.95 2.48 15 12.48 2.52 6.35 0.5 00 1.56
-1.56 2.43 1.56 00 00 00 00 00 15 7.5 7.5 56.25 7.5 00 8.5 -8.5 72.25 8.5 06 8 -2 4
0.5
INTERPRETATION: Since the calculated value less than the table value, we accept
the hypothesis and it is concluded there is no significant relationship between the
a n irst ctoin m’ of customer towards the Nagarjunaproducts 52 HYPOTHESIS
TESTING -3 To determine whether there is any significant relationship between
perception and occupation Ho: There is no significant relationship between the
perception and occupation of customer towards the Nagarjuna products.
INTERPRETATION: Since the calculated value less than the table value, we accept
the hypothesis and it is concluded there is no significant relationship between the
perception and occupation of customer towards the Nagarjunaproducts. 54
HYPOTHESIS TESTING -3 To determine whether there is any significant
relationship between the qualification and leading of Nagarjuna Products Ho:
There is no significant relationship between the qualification and leading of
Nagarjuna Products H1: There is a significant relationship between the
qualification and leading of Nagarjuna Products Table 2.24 Observed Frequency
Expected Frequency O-E (0-E)2 (0-E)2/E 10 7.92 2.08 4.33 0.55 08 7.26 0.74 0.55
0.076 02 4.40 -2.4 5.76 1.3 02 2.42 -0.42 0.18 0.074 00 00 00 00 00 14 11.52 2.48
6.15 0.534 10 10.56 -0.56 0.31 0.029 02 6.4 -4.4 19.36 3.025 06 3.52 2.48 6.15 1.75
00 00 00 00 00 12 16.56 -4.56 2.08 0.13 15 15.18 -0.18 0.03 0.0019 16 9.2 6.8
46.24 9.14 03 5.06 2.06 4.24 -0.82 00 00 00 00 00 Table 2.25 Leads over others
Qualification Strongly Agree Agree Neutral Disagree Strongly Disagree Total U.G
10 08 02 02 00 22 P.G
FINDINGS Brand equity is simply a reason why a customer should buy a specific
brand instead of competitor's brand in marketer's point of view; the brand equity
is an important indicator of customer's acceptability towards a product or brand.
Through this products in consumer perception and rate the major players in the
industry. The Major finding of project study is as below, 1. By the survey we can
observed that 68 %of the respondents are males 32% of the respondents are
females 2.
Out of the total 100 respondents, we can identify that the most of customers are
in the age class of >45 years. 3. Out of the total 100 respondents, 32%of the
respondents are other than student, businessperson, and professional. 4. Out of
the total 100 respondents, surveyed 68%of the respondents are males 32% of the
respondents are females. 5.
It found that 46%of the respondents having the qualification other than UG, PG.
6. Most of customers known about the Nagarjuna product through Television 7.
Majority of customers are feeling good about the Nagarjuna product. 8.
Customers are buys the product based on quality. 9. Peoples are agreeing
Nagarjuna the most familiar brand over others. 10. Only20 % have the preference
in replacing the brand. 11.
It found that 43% of the people may recommend Nagarjuna to others. 12. We
can analyz e4% stomrs re tisf rjuapcts and 14% are highly satisfied. 13. It found
that30% are highly satisfied, 34% of customers are satisfied with price Nagarjuna.
14. The price of Nagarjuna is moderate when compared to thers 58 15. Most of
the people agree that Nagarjuna is best in market. 16.
Out of the 100 respondents, 43% respondents strongly agrees and 37% agrees
that Nagarjuna mostly popular in ayurvedic products 17. 67 % can recall the ads
regarding the nagarguna. 18. The product price is comes in the mind of
consumer 19. We can analyze that 61% of the respondents are satisfied with
Nagarjuna. 3.2 SUGGESTIONS & RECOMMENDATIONS 1. Try to open more
agencies throughout and abroad 2.
This study helps me to understand more about brand equity and brand equity of
nagarjuna. herbal concentrates limited thodupuzha and also new product
development, entrance into the field of social responsibility, exploring new
markets and providing more customer satisfaction etc. are the future prospectus
of the company. 59 BIBLIOGRAPHY 1.www.nagarjunaayurveda.com
2.www.google.com/nagarjuna herbal concentrates ltd 3. kothari cr.(1997)
Research Methodology 4. Philip Kotler (2001) Marketing Management - The
millennium edition ANNEXURE 1.
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