The Influence of Product Mix on Sales Growth of Ayurvedic Products in India

Abstract

Modern world is facing a virtual crisis with human diseases surpassing the immune system of the body and Allopathic system of medicine finding it hard to keep pace with the changes in the contemporary malignant bacteria. The world is now gradually turning towards nature for the cures rather than the chemical therapy, which according to the masses leads to uninvited side effects. The natural therapy assures of almost no side effects, but the recovery is always gradual albeit permanent.

Ayurveda is a form of alternative medicine that finds its history thousands of years ago in the Indian culture. According to Merriam Webster, Ayurveda can be defined as seeking to treat and integrate body, mind and spirit using a comprehensive approach by emphasizing on diet, herbal remedies, exercise, meditation and breathing therapy. India being the origin place of ‘Ayurveda’ finds its theories in the ancient ‘Vedas’, thus is more than a thousand years old. Fragrance of Ayurveda has been commercialized by certain Indian companies like Dabur, Patanjali and Himalayan etc. These companies like Patanjali and Himalayan find their origin in 1930s in the form of trust for human services.

This research is an empirical study that would analyze major Indian Ayurvedic companies and study the role of Product and Services in case of Ayurveda product sales. The study has been conducted with the primary data collected in the form of a structured questionnaire from various company executives, and statistical tools were applied for the analysis of the data. Multiple linear regression was the major tool applied and the impact of product mix was studied on the sales growth of the Ayurvedic companies.

The results implied positive effect of certain elements of product mix on the sales growth of the Ayurvedic companies, thus concluding major role of product line, service quality and packaging on the increase in the sales aspect.