A Study On Brand Awareness of Ayurvedic Products and Services With Special
A Study On Brand Awareness of Ayurvedic Products and Services With Special
A Study On Brand Awareness of Ayurvedic Products and Services With Special
Master of Commerce
BY
RESHMA.M.RAJAN
Reg. No. VCAKMCM005
PG Department of Commerce
SREE VIVEKANANDA COLLEGE
KIZHOOR,KUNNAMKULAM, THRISSUR
MARCH 2012
Dr. Rajani
PG Departement of
Commerce
Assisstant professor
SREE VIVEKANANDA
COLLEGE
kizhoor, Kunnamkulam
THRISSUR ,PIN 680523
PHONE:04885 222477
CERTIFICATE
DR.RAJANI.V
ASSISSTANT PROFESSOR
SREE VIVEKANANDA COLLEGE,
KUNNAMKULAM
Place : Thrissur
Date :
DECLARATION
Place :
Date :
RESHMA.M.RAJAN
ACKNOWLEDGEMENT
This project report for the partial fulfilment of the requirement for
the award of degree of Master of Commerce has been made possible
through the direct and indirect co-operation of various persons. It gives
me immense pleasure to mention the names of those people who made
my work possible. After all, the success is the epitome of not only hard
work, surveillance, zeal, stead fast determination, but also encouraging
guidance. So with immense gratitude, I acknowledge all those whose
guidance and encouragement served as a beacon light and crowned my
efforts with success.
First of all, I sincerely express my deep gratitude to my
respectedproject guide,Dr.RAJANI.V,AssisstantProfessor, Sree
Vivekananda College, Thrissur. For giving me valuable suggestions,
guidance, support and advice throughout the execution of the project. I
am also greatful to V.AJITH KUMAR, Principal , Sree Vivekanada
College,for his advice and encouragement in conducting the present
study.It gives me pleasure to express my heartfelt gratitude to Mrs.
Sujatha.M, Head of the Department, PG Department of Commerce,
Kizhoor,Kunnamkulam, for her sincere co-operation and valuable
contribution.
I would like to express my profound sense of gratitude to Ms. Sandya
Sathish, Assisting Marketing Manager, SITARAM AYURVEDA
PHARMACY LTD Thrissur, for giving me the support and directions
throughout the study.
I extend my sincere thanks to all the faculty members, non-teaching
staff of Sree vivekanada college, for the support and the encouragement
extended to me.
I also express my deep gratitude towards my family and friends,
without their co-operation and support: this project would not have been
possible.
Above all I thank the Almighty God whose blessings have been upon
me to complete this study successfully.
Place:
RESHMA.M.RAJAN
Date:
CONTENTS
LIST OF TABLES
LIST OF FIGURES
CHAPTERS
TITLE
INTRODUCTION
CHAPTER II
REVIEW OF LITERATURE
CHAPTER III
INDUSTRY PROFILE
CHAPTER I V
CHAPTER V
BIBLOGRAPHY
APPENDIX
PAGE
NUMBER
List of Tables
SL NO.
Title
Page
No.
4.1
4.2
4.3
Marital Status
4.4
4.5
4.6
4.7
Usage Pattern
4.8
4.9
Source of Inspiration
4.10
Type of products\services
4.11
Periodicity of purchases
4.12
Periodicity of usage
4.13
4.14
4.15
4.16
4.17
Promotional measures
Perception of Customers about Brand Awareness and
its Effectiveness
LIST OF FIGURES
Figure
Title
No:
Page
No:
4.1
4.2
4.3
Marital Status
4.4
4.5
4.6
CHAPTER-1
INTRODUCTION
INTRODUCTION
In todays rapidly changing business environment, organisations are
concerned about competition, the quality of their products and services
and operating more efficiency. All the products are competing each
other to make a name of them. Each and every brand is thriving hard to
create an excellent brand name and to get a position in the minds of the
customer. Brand awareness is when people recognize your brand as
yours. This is for what all the players in the market are competing for.
Organisations marketing department seeks to attract the consumers or
customers by differentiating and marketing their product or services.
Especially in the current intense global competition and technological
advancement era the marketing department now more and more using
branding as one of their marketing and sales methods. The marketing
department of the organisation must have enough awareness about all
products and services branding concept and that they are only
implementing branding process. A successful product and service
brand needs to convey the expectation or promise that is distinctively
associated with the product and service.
As in this complex and dynamic markets, real branding and its
effective implementation requires combination of marketing strategies,
includes price, distribution, advertisement, sponsorship, price deals on
building the consumer perception about the brand awareness.
Brand image has a key role in the marketing of product and services.
Image and purchase decision are positively correlated, in the sense that
customer make decision before purchasing a product, there by
achieving expected satisfaction. Marinating brand image create brand
loyalty, awareness, perceived quality, strong brand association and
other such as patents, trademark and relationships. Brand stems greater
confidence in the mind of consumer than that of its competitors
product and service. This confidence translates into consumer
awareness, loyalty and their willingness to pay a premium price for the
brand. Brand awareness and brand image to be ascendant to brand
satisfaction and brand trust. Both brand satisfaction and brand trust
flows right from the ancient times its important in the economy. The
customers usually prefer the well known brands when they are in
search of an Ayurveda medicine. To attain the inner urge of customers
the company must conduct detailed study about the market condition
prevailing in the economy.
Brand awareness is vitally important for all brands, branding provides
differentiation in recognition and recalling the product and service.
Repeat purchase of the customer ultimately leads to value
reinforcement Inculcating relationship with customers is based on
intentions of cultivating the long term customer loyalty. The purpose is
to get the customer to become committed to a given service provider.
As the ayurvedic treatment has brought a tremendous change or
improvements in the tourism industry leads to economic growth there
by capturing the market share. Cultivating base of customer awareness
makes eminent sense on account of its implications on cost and
revenue of the firm. Some brands develop customer awareness and
commitment on the strength of their ability to deliver superior
functional benefits.
The study helps to get an idea of where the brand is positioned at
present and to evaluate the awareness level of Ayurvedic
products\services offered by Sitaram.
Objectives
The present study entitled A STUDY ON BRAND AWARENESS OF
AYURVEDIC PRODUCTS AND SERVICES WITH SPECIALREFERENCE TO
SITARAM AYURVEDA PHARMACYPRIVATE LIMITED THRISSUR is
Methodology
Period of study
Introduction
Chapter II
Review of literature
A. Review of Literature
B. Theoretical Framework of study
I. Concept of brand, importance and other related
concepts.
II. Ayurveda- History and Recent trends
a. Global Scenario
b. Indian Scenario
c. Kerala
Chapter III
Industry Profile
Chapter IV
Chapter V
CHAPTER-2
REVIEW OF LITERATURE
A. Review of Literature
A review of theoretical and empirical literature pertaing to the topic
of the study is an integral part of any research work. Hence, an
Cavero and Cedollada4 in their study the Brand Choice and Marketing
Strategy highlighted brand devotion signifies product fondness that
user wont think of supplementary brand when they acquire a
manufactured goods.
Chieng Fayrene Y.L and Goi Chai Lee5 in their study named
Customer- Based Brand Loyalty suggested that customer based
brand equity which based to the consumer response to a brand name.
Recognition and recall of successful brand provide competitive brand
that are critical to the success of company.
original and not to be offensive. Brand with all these apt features can
influence the consumers in their buying decision and shapes the
ownership experience Consumers enjoying the benefits of a strong
brand can avail a trust and emotional attachment to product or services.
In this case premium price can also be recommended for the product or
services with strong brand.
Brand may be of different type according to the nature, usage
,preference, etc. of product or services provided by the concerned
firm:Individual brand firm may decide upon a policy of adopting
distinctive brands for each of its product.
Family brand-firm with many lines of products and each line of
product is given a particular brand name.
Company brand-all the products of a company have the name of the
company as a brand name.
Combination brand-each product of the company has an individual
brand name but it also has the name of the company brand to indicate
the business house producing the product
Functions of brand for the consumer are identification in the sense that
to identify the sought-after products. Through identical repurchasing
and loyalty allows in practically savings of time and energy.
Guarantee, to be sure of finding the same quality of the product or
service. Optimisation to be sure of buying the best product in its
category, the best performer for a particular purpose, must be
characterizsation to have confirmation of the brands self-image or the
image that present to others. Continuity and satisfaction brought about
thorough familiarity and intimacy with the brand that have been
consuming for years. Satisfaction linked to the attractiveness of the
Brand help s to stand apart from the crowd, when it comes to a bunch
of products offering the same services, it is the brand identify that
helps to steal the deal.. Brand help generate a credible business image.
By using the right kind of branding strategies business can generate a
sense of trust regarding their products or service among the customers.
A credible image can hugely help a business boost its sales conversion.
For instance, while buying goods not many users will think twice
before going for a transaction, but they will think twice when it comes
to other relatively unknown brands. Brand help promote business
through word of mouth. The team of usability experts will ensure that
brand design does not have any usability flews. After formulating a
usable product design based on the business requirements and end-user
analysis team conducts a final usability testing before the product is
made live.
By this way there remains a continual updating of a brand awareness
strategy according to the dynamic environment. Also helps in
determining the awareness among the consumers to the prior changes
making in the brand. From this decide the need suggestion that might
help to increase the awareness and public recognition. Efficient and
effective execution of the change helps in increase the brand
awareness, without any change in the mind of consumers. Thereby the
potential consumers of the brand recognise the change and switch
accordingly.
Truly successful brand awareness often takes time to develop. Firstly
effective awareness effort is required to develop. Then there is the time
required for the message to reach potential customer. Potential
customers react to the message differently, few respond early while
most of them take time to hear and respond later. Establishing
decision vary both in time and whether the stages really are distinct,
one can better assess where they might be able to have an influence on
someones decision to purchase.
Carefully planned communication strategies play an important role in
creating a brand. Through the communication process the benefits of
the brand can prove attractiveness and ability to increase brand
awareness. Investing in consumer education is a promotional measure
to achieve strong brand awareness and loyalty. The education strategy
has always relied on direct contact with its potential consumers for
better and first-hand information. Amongst its educational strategies
investment in consumer product sampling, educational seminars for
opinion formers, etcMarketing its brand in one package size, one
design and bearing one uniform message, has yielded solid and
impressive results.. A strong component of this strategy is the timely
entering into the market-always first-which has given sufficient time to
build category awareness followed by a strong brand awareness.
To solidify the communication efforts, it launched simultaneous public
relation activities, relying heavily on press release and advertorial and
editorial material. Establishing strong category awareness can establish
its own branding program, develop simultaneously with a comarketing programs offered to its customers. The promotional measure
to increase the brand includes- keep it simple, consumer realise the full
benefits of product and services aware to them. The communication
strategy is designed to create consumer aware of benefit of both
product and services, which ultimately lead them to look for product
containing better quality and satisfaction. Products featuring the logo
are easily identifiable and positive; these products did not make
reference to complicated products or services. Also website facility is
newsletter at that time the customers may ask for certain provided
information such as contact details name, e-mail addressed, etc
Along with this company to take care of the privacy policy upon the
information. The company properly maintains privacy policy without
disclosing the information about the consumer to a third party. Also
retain other companies and individual to perform function on one
behalf. Such third party may provide with access to personally
identifiable information needed to perform their function.
E-mail addresses::company never compels any one to receive
unwanted email from them. at the same time they are trying to make it
easy to opt-out of any product or services that have been asked to
receive through world network.com, newsletter and verification e-mail
is sent via wn.com is clearly an conspicuously named at the point of
collection. Consumers have also option not to receive promotional
communication.
Third party advertises::the advertising banners and others forms of
advertising appearing on this website are sometimes delivered to the
customers behalf by a third party. In the course of service advertised to
this site the third party may place or recognize a unique cookie on the
browser.
Business transfer::as they continue to develop business they might sell
certain aspects of their entity or asset. In such transaction user
information includes personally identifiable information generally is
one of the transferred business assets, and by submitting customer
personal information on wn.com that agree the transfer of data in these
circumstances.
of healing.' The hymns, the mantras and the medical information contained
in the Vedas were contributions of Rishis and munis or sages, over a period
of time.
The practical tenets of Ayurveda are divided into eight sections or branches.
Internal medicine,
Surgery,
Organic medicine,
Pediatrics,
Toxicology,
Rejuvenating remedy,
Aphrodisiac remedies and
Spiritual healing.
These eight sections are called "Astanga Ayurveda".
Ayurveda is a complete or holistic system that integrates the mind,
body and spirit. For a few centuries, the tradition of Ayurveda was
dimmed due to the natural and human calamities and also by the
invasion of foreign cultures into India. The sacred texts were either
destroyed or stolen. However there were many Vaidyas or doctors in
India who managed to preserve some of the knowledge available in
these Holy Scriptures. Divine plants that sustain long life and good
health are now being rediscovered. Many renowned families of
Vaidyas, who are specialised in certain branches of Ayurveda, have
started functioning again in India. Today there is a revival of the
ancient culture and traditions inherent to Ayurveda, which is a true gift
of the ancient civilisation to the modern world.
One is impressed by the vast conceptual canvas and frame work of
Ayurveda. It is important to realise that Ayurveda is not confined to
medicine only, it tackle whole subject of life in its various
a. Global Scenario
Even though the modern medicine had played and critically important
role in providing relief from pain and disease it had not been able to
provide a complete cure from many diseases. Further there are side
Ayurveda originated in the 10th century BC, but its current form took
shape between the 5th century BC and the 5th century AD. In Sanskrit,
Ayurveda means science of life. Ayurvedic philosophy is attached to
decades, joined recently by a few others that have followed their lead,
so that there are today 30 companies doing a million dollars or more
per year in business to meet the growing demand for Ayurvedic
medicine. The products of these companies are included within the
board category of fast moving consumer goods (FMCG; which
mainly involves foods, beverages, toiletries, cigarettes etc.) Most of the
larger Ayurvedic medicine suppliers provide materials other than
Ayurvedic internal medicines, particularly in the areas of foods and
toiletries (soap, toothpaste, shampoo etc.) where there may be some
overlap with Ayurveda, such as having traditional herbal ingredients in
the composition of toiletries.
Ayurveda is an ancient Indian medical science, the origin of which can
be traced back to the Vedas, which are the oldest available classics of
the world. Vedas are the ancient books of knowledge, or science, from
India. They contain practical and scientific information on various
subjects beneficial to the humanity like health, philosophy,
engineering, astrology etc. Ayurveda is a holistic healing science which
comprises of two words, Ayu and Veda. Ayu means life and Veda
means knowledge or science. So the literal meaning of the word
Ayurveda is the science of life. Ayurveda is a science dealing not only
with treatment of diseases but is also a complete way of life.
c . Kerala
The ideal geographic location of Kerala and its salubrious climate
has made external purification and rejuvenation therapies most
effective for treatment of many psychosomatic disorders. The high
humidity in Kerala helps to open up the body pores and the
medicinal oils used in
Infrastructure
A vast infrastructure of Ayurveda comprising teaching institutions,
registered medical practitioners, hospitals & dispensaries and drug
manufacturing units is available in the country as under:
(a)
Courses of Study
Different forms of education & training program ranging from short
& midterm to full-fledged bachelor, master and postdoctoral courses
are conducted as under at recognized teaching institutions.
1. Degree course 51/2 years (BAMS)
2. Post Graduate degree course 3 years (MD/MS)
3. Post Doctorate course (Ph.D.) Minimum 2 years
4. Short & midterm courses 2 months to 2 years
(Certificate and Diploma courses)
In India 60% of registered physicians are involved in non allopathic
systems of medicines. In addition to the nearly 4 lakh ayurvedic
parishioners, there are over 170000 homeopathic physicians; India has
about 5 lakh medical doctors (similar to the number in the US but
serving nearly 4 times as many people).Reliance on ayurvedic
medicines is heavy in certain regions in India, such as Kerala in the
South West. Many ayurvedic practioners in small villages are not
registered.
The manufacture of ayurvedic medicines has been regulated by an
Act viz., Drugs and cosmetics Act 1940 in India. The Act has approved
only the formulations contained in 55 classical texts. The prominent
classical text being following for the preparation of medicines is given
in the following table.
The total value of production from the entire industry in India is
estimated to be US$ 1 Billion in a year. The industry has been
dominated by less than 10 companies for decades. Now they have been
joined by some new companies and because of these nearly 30
companies are doing around US$ 1 million per year. The items
included in the list are broadly classified which include cosmetics and
toiletries also.
The ayurvedic industry is now broadly classified as FMCG (fast
moving consumer goods) and TSM (Traditional System of Medicines.
The Kerala along with Sitaram ,Kottakkal Aryavaidyasala, Oushadi,
Aryavaidya Pharmacy etc. mainly dealing in TSM Products. Product
sell by using aggressive marketing techniques.
The total market for herbal products, ayurvedic medicines are also part
of it, is estimated to about US$ 62 Billion. Out of which Indias
contribution is merely 2%. The expectations that by the year 2010, the
world market for herbal products would be US$ 2500 billion. All
efforts are being taken at all levels to increase the export potential of
herbal products by India to Rs. 3000 crores by 2006 and Rs. 10000
crores by 2010 (the export of the year 2002 only Rs. 500 crores).
A gift from Sitaram to the Nation for the Millennium is its new
Manufacturing Facility Constructed to follow the GMP (Good
Manufacturing Practice) in the production of Ayurvedic Medicines as
per the Notification of Ministry of Health & Family Welfare, Govt. of
India, and New Delhi, dated 23rd June 2000. The factory has
incorporated all the guidelines stipulated by World Health Organisation
(WHO) to produce quality herbal medicines. As this facility can be
compared with any modern drug manufacturing unit in the western
world. Sitaram Ayurveda Pharmacy Ltd has now received the First
GMP Certificate Vide Order No. ML4 08534/2000/DC GMP
No.1/2000/DC.KERALA. Dated 12th July 2000.
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CHAPTER 3
INDUSTRY PROFILE
Origin
SAPL was started in 1921 under the instructions of Maha Raja of
EAST WHILE COCHI H.H. RAMAVARMA. SAPL has completed 86
years of manufacturing and distribution of quality ayurvedic medicine
sat competitive and affordable prices to the customers. Considering the
increased demand for the ayurvedic medicines and facilities of
treatment and in tune with the traditional interest, SAPL has taken up
developing Ayurveda. The House of Sitaram is synonymous with
Ayurvedic healing and caring and path breaking new medicines with
their R & D, it will not be an overstatement to name them as pioneers.
This eminent institution is run by an entrepreneurial group of doctors.
Their able guidance and visionary outlook has given this institution a
prominent position in Ayurvedic research.
Mission
To provide quality products at best and suitable prices
Like every business concerns profit motive is the objective of
the company
Expansion of business
To launch processed products
Vision
SAPL have always been striving to provide their customers with
the products that help they live a healthy life ranging from
KASHAYA & ARISHTAM to available at affording prices.Sitaram
is committed to other total health care solution to its customers
Implementation of modern techniques in the production
programmes, introduction of stringent quality control measures,
with out deviating from old sastric methods of production
Speciality
Sitaram Ayurveda Pharmacy has state of the art distillation system
for manufacturing aasav and arishtas (medicated alcohols) and liquid
medicines they have their own pharmacopeia to that they created the
unique medicines which are greatly compactable to ayurvedic theme of
medicines.
PROFILE
Name of the company
: SITARAMAYURVEDA PHARMACY
LTD
Registered Office
Factory
Specialty Hospitals
State of Registration
: KERALA
Type of Industry
: Ayurveda Industry
Business
Auditors
Bankers
Authorized Capital
Unless otherwise determine by the articles the authorized share
capital of the company is Rs. 6 laces, divided into 60,000 equity shares
of Rs. 10 each with powrs to increase or decrease the same, in
accordance with the section 94 and 100 are other provisions of the
companies act 1956.
Board of Directors
Board of directors controls the day to day affairs of the company.
Directors meeting conducted weekly. There are 7 directors. Among
these one will be the chairman and one becomes managing director.
Remaining will be other
Managing Directors
Executive directors
: Dr. D. Ramanandan
:
Mr. Ramadurai
Adv:D.Meenakshi Sundaram
Chairman
Other Directors
Shanmughadas
Dr. K.V
ORGANISATIONAL CHART
Managing
General
Manager
Finance
Productio
QC
n Manger
Manage
Marketin
Factory
Manag
Manag
er
Purchas
Export
Manag
Manage
Chemis
t
er
Account
s Staff
Assistan
t
Manager
Technical
Assistant
Supervis
or
Supervis
or
Workers
Worker
s
Regional
Marketing
Manager
Coordinat
or
Sales
Office
Staff
Superinten
d
Clerical
Staff
DEPARTMENTS
Sitaram Ayurveda Pharmacy Private Limited has the effort of a lot of
efficient departments behind its success in the Ayurveda field. The main
departments of SAPL are:
PURCHASE DEPARTMENT
PRODUCTION DEPARTMENT
QUALITY CONTROL DEPARTMENT
FINANCE DEPARTMENT
MARKETING DEPARTMENT
Purchase Department
Quality policy
Sitaram Ayurveda Pharmacy Ltd owes to create a strong and
everlasting hand with the consumers by providing superior and
highest possible quality products which will delight the consumers
by delivering greater value for the money spent by them. Through
preparation, communication, employee participation and
continuous improvement in its working system, Sitaram is aims to
achieve zero complaint situations relating to the quality and
delivery of the products to the market.
Finance Department
Finance is the life blood of business. Without proper utilization of
finance there will be total confusion and the company will be at loss.
So the finance department has to do the functions of the planning,
controlling and allocating funds in a very thoughtful way. The finance
department consists of finance manager, internal auditory and assistant
manager. The functions of accounting costing, auditing, pay and
allowances, payment arrangements of plant and machinery and raw
materials are dealt with accounts department. The finance manager
deals with all the payment of taxes like central sales tax, income tax,
exercise duty etc. All the activities related to Govt. And bank is done
by accounts department. Preparation of financial statements is the
responsibility of the top management as these statements are used by
investor and financial analyst to examine the firms performance in
order to make an investment decisions.
Two basic financial statements are prepared for the purpose of
external reporting to owners, investors and creditors, they are
Balance sheet
Profit and Loss Account He is responsible for:-
authority
Maintaining register of assets.
Marketing Department
On SAPL includes lot of these types of employees to promote the
products. Advertising, sales promoters store come under the marketing
department. Marketing department of SAPL consist marketing
manager, deputy sales manager, branch manager, field operation etc.
Marketing function starts from the production and ends with sale. But
in wider sense, marketing begins and ends with the customers. Sitar am
is the market leader in the ayurvedic industry. Marketing department is
headed by marketing manager, Deputy sales manager; branch
managers, regional sales manager, area sales manager etc provide help
to marketing manager to perform his function in an effective way.
Branch doctor and other branch managers come under branch manager.
Deputy sales manager, regional sales manager, area sales manager,
sales executives and sales representatives come under marketing
manager. A short term demand forecast for a period of three months is
prepared by the sales manager on the basis of past sales and present
economic conditions. Medicines are produced according to this. There
is a store in marketing department. They are formed for the arrival of
the finished goods from production department on a daily basis and in
turn arranges for the execution of pending orders, store planning etc.
Monthly marketing requirement is forwarded to the store keeper. The
company follows dual pricing policy. Normally price revision for the
public is done within two to three years. Price charged to government
is 30% lesser than the price charged to the public. Price list for the
government and public are prepared as per the government regulations.
Export Manager
Export manager is responsible for: Dealing with foreign customers including seeking & accepting
export orders.
Arranging shipments against export orders.
Control of personal entrusted with responsibilities of preservation
of finished goods.
General administration
Liaison with statutory agencies including renewal of permits &
license
Monitor complaints of all statutory requirements & control such
records
House keeping & sanitation authority
Issue product information to overseas customers.
Send quotations to oversees customers & follow - up.
Dispatch Department
The department which deals with packing and sending of goods to
customers. All products produced by the company have to be
dispatched properly. Dispatch department manage this functions
effectively. Dispatch Department deals with the packing and
dispatching of the products as per the production orders received
from the concerned agencies. This department deals only with the
finished products. Dispatch officer and his subordinates are engaged
in the distribution of finished products to the distributors. Before
dispatching, he has to check many things like packing, labeling,
safety etc. Since the company has distributors in many countries,
proper care should be given regarding this.
Products\ Services
Sitaram is producing number of ayurvedic medicines. It range will
go up to more than 600. Sitaram medicines are known for their quality.
back aches, and also help to keep body healthy and beautiful.
Sitaram Foundation
the advice from the expert management committee enable him to guide
the unit in the proper direction.
A gift from Sitaram to the Nation for the Millennium is its new
Manufacturing Facility Constructed to follow the GMP (Good
Manufacturing Practice) in the production of Ayurvedic Medicines as
per the Notification of Ministry of Health &Family Welfare,
Government of India, New Delhi, dated 23rd June 2000. The factory
has incorporated all the guidelines stipulated by World Health
Organisation (WHO) to produce quality herbal medicines. As this
facility can be compared with any modern drug manufacturing unit in
the western world. Sitaram Ayurveda Pharmacy Ltd has now received
the First GMP Certificate Vide Order NO:ML4.08534 /2000/ DC
GMP.NO:1/2000/DC. KERALA. Dated 12th July 2000.
1. Worlds First Ayurvedic company to be awarded the GMP
certification as per the guidelines by the WHO.
2. South Indias First Ayurvedic company to be awarded the ISO
9001:2000 certifications.
3. Recipient - National Award for Best SSI Unit 2005.
4. Recipient - Udyog Rattan award by the Institute of Economic
Studies, New Delhi.
5. Central Govt. approved R & D centre
6. Best pharmacy award for Sitaram Ayurveda Speciality Hospital
CERTIFICATIONS:
World's 1st GMP in Ayurveda
First ISO 9001-2000 in South India
National Best SSI Award 2005
A gift from Sitaram to the Nation For the Millennium is its new
Manufacturing Facility Constructed to follow the GMP {Good
Manufacturing Practice} in the production of Ayurvedic Medicines as
per the Notification of Ministry of Health &Family Welfare, Govt of
India, New Delhi, dated 23rd June 2000. The factory has incorporated
all the guidelines stipulated by World Health Organisation {WHO} to
produce quality herbal medicines..
Each and every raw material and prepared medicine undergo strict
quality control tests at our laboratory. Medicines come out of our
factory for sales only if the tests give utmost satisfaction. At the same
time, researches are continuously conducted for new Ayurvedic
medical combinations for better results. Unlike modern medicine,
scientifically prepared Ayurvedic medicines have no side effects, which
is really noteworthy. Dasamool Cough Syrup, Asthra Plus,
Triphalannabedi Tablet Allerkhand etc. are the medicines developed by
our R & D wing which are highly appreciated and hailed among the
medical field and experts.
The meteoric rise of SITARAM is attributed to the following:
Implementation of modern techniques in the production programmes,
introduction of stringent quality control measures, without deviating
from old sastric methods of production employment of technically
competent professionals, excellent organisational setup for efficient
management, devoted workforce, and support from the Physicians.
CHAPTER - 4
DATA ANLYSIS AND INTERPRETATION
I.
The customers covered under the study were classified in to 6. The categories to
which they belong are below 20, 20-30, 30-40, 40-50, 50-60 and above 60. Table
4.1 present age wise classification. The analysis of table reveals that customer
belonging to the age group below 20 include only one male respondent. At the
same time 20-30 age group shows 11 customers, among them 64percent are male
and 36.36percent of female. Those whose belong to the age group of 30-40 are 9
customer, consist 66.67 percent of male and 33.33 percent of female. In the case
of 40-80 age group, 70.59 percent male and 29.41percent female represent out of
17 customers. The age group 50-60 consist of 9 customers, out of this 44.44
percent and 55.6 percent male and female respectively. The last age group is
above 60, covers only 3 customers, they represent 6.67percent male and
33.37percent female. Thus, the majority of the customers covered in this study
are in the age group of 40-50.
Table 4.1
Age wise classification
Age
Gender
Male
Total
Femal
e
Below 20
(100)
20-30
30-40
1
(100)
11
(63.64
(36.36
(100)
(66.67
(33.33
40-50
50-60
Above 60
Total
(100)
12
17
(70.59
(29.41
(100)
(44.40
(55.60
(100)
(66.67
(33.33
(100)
32
18
50
(64)
(36)
(100)
Figure 4.1
1% 10%
8%
47%
16%
8%
8%
Below 20
20-30
30-40
40-50
50-60
Above60
Area of Residence
On the basis of area of residence, customers are grouped in to three
categorised via, urban, semi-urban and rural. Table 4.2 depicts
locality wise classification.
From the table it can be observed that there are 12 customers in the
group of rural area; of which 75 percent are male and 25 percent are
female. The next group in the locality wise classification is semi-urban,
among this group male and female represent 60.6 percent and
36.4percen of total 33 customers. There are 5 numbers of customer in
the last group-urban area. Those who belong to this group contain 60
percent male and female respondents. Thus the largest group is in
semi-urban area and smallest rural area. Urban area group stands in
between them.
Table 4.2
Locality
Urban
Gender
Total
Male
Female
12
(25)
(100)
20
13
33
(60.6)
(36.4)
(100)
(60)
(40)
(100)
32
18
50
(64)
(36)
(100)
(75)
Semi-urban
Rural
Total
Figure 4.2
10%
24%
Locality
urban
semi-urban
66%
rural
Table- 4.3
Gender
Total
Qualification
Male
Female
High school
10
(70)
(30)
(100)
13
(61.54)
(38.46)
(100)
13
(75)
(25)
(100)
(63.64)
(36.36)
(100)
11
(60)
(40)
(100)
(33.33)
(66.67)
(100)
32
18
50
(64)
(36)
(100)
Plus Two\PDC
Diploma\Technical
Graduation
Post graduation
Others
Total
Figure 4.3
10%
6%
20%
High school
Plue two\ PDC
22%
26%
16%
Diploma Technical
Graduation
Post graduation
Others
Marital Status
As marital status of the customers too effects the buying behavior of
the customers a lot. Depending upon customers purchase intensity, the
brand loyalty of the product\ services increases.In the table 4.4, among
50 customers, 80percent were married and 20pecent were single.
Table 4.4
Marital Status
Status
Single
Married
Total
Gender
Total
Male
Female
10
(40)
(60)
(100)
28
12
40
(70)
(30)
(100)
32
18
50
(100)
(100)
(100)
Figure 4.4
20%
status
Single
80%
Married
Occupation
Occupation is another variable which affect the purchasing behavior of
people. In case of occupation wise classification, the categories to which
customers belong to are government employee, private employee
Business/Professionals, students and others. They are shown in table 4.5.Table
indicates that out of 50 sample, government employees represents 10, out of
this 60 percent are male and 40 percent are female. In the case of private
employees, male and female represents 55.6 percent and 44.4 percent
respectively, of total 9 customers of this category. Third category is
Business/Professionals category contains 11 customers, in this case 90.9
percent are male and 9.1 percent are female. 8 customers are coming under
student group, out of this males are 75 percent and female are 25 percent .
The rest of the 12 customers belong to others category among them, 41.7
percent and 58.3 percent denote the male and female respectively. In short
others groups are more. Business/Professionals comes nearest to them.
Table- 4.5
Occupation wise classification of respondents
Gender
Occupation
Male
Govt. Employee
Total
Female
10
Private. Employee
Business/
Professionals
Students
Others
Total
(60)
(40)
(100)
(55.6)
(44.4)
(100)
12
(41.7)
(58.3)
(100)
(75)
(25)
(100)
10
11
(90.9)
(9.10)
18
(100)
50
(64)
(36)
(100)
32
Figure 4.5
20%
22%
Government
Employee
18%
16%
Private Employee
Business\ profession
24%
Student
Others
Table- 4.6
Income level of respondents
Gender
Monthly
Male
Income
Total
Female
(Rs.)
Below 10,000
10,000-15,000
15,000-20,000
20,000-25,000
Above 25,000
Total
(55.4)
(44.4)
(100)
(44.4)
(55.5)
(100)
11
(63.64)
(36.36)
(100)
13
(61.54)
(38.46)
(100)
(100)
(100)
32
18
50
(64)
(36)
(100)
Figure 4.6
16%
18%
Below Rs10000
18%
26%
10000-15000
15000-20000
22%
20000-25000
Above 25000
categories. They are below Rs. 10000, Rs. 10000-Rs. 15000, Rs. 15000-Rs.
20000, Rs. 20000-Rs. 25000 and above 25000 Table 4.6 depicts the income
wise classification.
It can be seen that in the case of below 10000 category, out of 9 customers,
male and female are 55.6 percent and 44.4 percent respectively. In the next
category of Rs. 10000- Rs. 15000, there are 9 customers, out of which 44.4
percent are male and 55.6 percent are female. Those who belong to the
category of Rs. 15000 - Rs. 20000 are 11 customers among this group male
and female representation are 63.64 percent and 36.36 percent. 13 customers
comes under the category Rs. 25000 and above consists of only male
customers represents cent percent. Thus, majority of customers comes under
the income group. Rs. 10000 and below. Next biggest income group are Rs.
15000 - Rs. 20000.
.
Usage Pattern
Here it is attempted to know the usage pattern of Ayurvedic
products\services.The table 4.7 shows the data of regular usage of
Ayurveda products, on the basis of classification almost always, sometimes,
almost never often and rarely. The table depicts that 44 percent of them
responded as they used it always . 36 percent represent as they sometimes
used it, 10 percent are of an opinion of that they used it ofently and the rest 6
percent and 2 percent stated as they rarely and almost never it respectively.
From the table it can be found that majority of them used Ayurveda
producst \services in their daily life.
Table- 4.7
Usage Pattern
Almost Always
Frequency
Percentage
22
44
Sometimes
18
36
Often
10
Rarely
Almost never
Total
50
100
Table 4.8
Reasons for choosing Ayurveda Products\services.
Reasons
Scores
Rank
No side effects
15
Effectiveness
12.93
II
Credibility
8.13
III
Emotional
7.2
IV
6.73
attachment
Previous
experience
source: Field Survey
Type of Products/Services
The important products\services preferred to purchaseare analysed in Table
4.9.For this purpose the customers were asked rank then in the given options
I, II, III, IV, V,VI,VII,VIII,IX,X,XI &XII .For analysis purpose weightage is
assigned for each rank namely 12 for 1, 11for 2, 10 for 3, 9 for 4, 8 for 5,7 for
6,6 for75 for 2, 4 for 9 ,3 for 10,2 for 11 and 1 for 12 respectively. Then
average weighted score is calculated. Based on the average weighted score,
rank has given to each of the products\services.
From the table, it can be observed that Dasamool Cough Syrup score Ist
rank (9.23), Asawas/Arishtas (7.89), Ghuthams (6.05), Sitaram Hair Tone
(5.36), Choornams (4.23), Anmti-Obesity(4.08), Ashtra Plus (3.64), Prora
Herb Oil (2.85), Ksheergulachi Aavasti (2.33) ,Abhyanbam(2.09)Allerkhand
Tablet (1.20) and Sitaram Tengin Pookula Lehyam (1.05) in the place of
IInd, IIIrd, IVth, Vth, VIth, VIIth, VIIIth, IXth , Xth,XIth and XIIth
respectively. Mostly the customers are dasamool cough syrup which is a
natural expectorant. It can be used by all age group. Among the listed 10
product the least used product was Sitaram Thengin Pookula Lehyam.
Table 4.9
Types of Product\Services
Product\Services
Score
Rank
Dasamool cough
9.23
Asavas/Arishtas
7.89
II
Ghuthams
6.05
III
5.36
IV
Choornams
4.23
Anti-Obesity
4.08
VI
syrup
Asthra Plus
3.64
VII
2.85
VIII
Ksheeraguluchi
2.33
IX
Abhyanbam
2.09
Allerkhand Table
1.20
XI
Sitaram Tengin
1.05
XII
Aavasti
Pookula Lehyam
Source of Inspiration
Source of inspirationis an important factor of which help the customers to
know the overall features and benefitsof branded ayurvedic
products\services of Sitaram, which in turn help them to select the
products\services according to their needs. The sources of inspiration
includes Prescription by doctor, Advertisement through media, Friends and
relatives, Previous users and Own experience.The table 4.10 revealed the source
Table 4.10
Source of Inspiration
Source of inspiration
Number of
Percentage
customers
Prescription by doctor
18
Advertisement
20
40
10
20
Previous users
14
Own experience
50
100
through media
Total
Periodicity of purchases
Number of purchase indicates the intensity of purchase\usage. Periodicity of
purchase is specified as daily, weekly, monthly and Not any particular pattern it
is varied in nature. From the table 4.12, among them 60 percent of customer
opines that they purchased it daily, 20 percent of the customers purchased it
weekly. 8 percent of them stated they purchase if fortnightly. 10 percent
remarks as they monthly purchase it and 2 percent particulars pattern, it is
varied in nature.Majority of the customers daily used it.
Table 4.11
Periodicity of purchases
Periods
Number of
Percentage
customers
Daily
30
60
Weekly
10
20
Fortnightly
Monthly
10
50
100
it is varied in nature
Total
Periodicity of usage
Here periodicity of usage indicates the length of time of using
products\services increase in the number of hours of use indicate the
increase and intensity in the use of product\services. From the Table 4.13
It can be seen that majority ie.64 percent have been using it for more than 5
years and rest of them use it as 4 percent customers used it less than 1 year,
12percent used it in between 1-2 years and 20percent used it in between 2-5
years.
Table4.12
Periodicity of usage
Period
Number of customers
Percentage
2
6
10
32
50
4
12
20
64
100
1-2 years
2-5 years
More than 5 years
Total
express their views about factors influencing them to purchase the branded
products\services. For this purpose they were asked to rank the given options
I, II, III, IV ,V,VI and VII. For analysis purpose weightage is assigned for
each rank namely 7 for 1, 6 for 2, 5 for 3, 4 for 4 ,3 for 5,2 for6 and 7 for
1respectively, the average weighted score is calculated. Based on the average
weighted score, rank has given to each of the factors.
From the table it can be observed that received value and quality possess
the Ist rank (11.89). Followed by other factors such astrust worthiness (10.07),
distinctiveness (9.53), social image (5.50), brand loyalty and customer
satisfaction (5.14), good will and reputation (4.25) and eliminates limitation
(3.57) in the place of IInd, IIIrd, IVth, Vth and VIth rank respectively.
Table4.13
Factors influencing Sitaran Ayurvedic Products\Services
Factors
Received value and quality
Trust worthiness
Distinctiveness
Social Image
Brand loyalty and customer
Score
Rank
11.89
10.07
9.53
5.50
5.14
I
II
III
IV
V
4.25
3.57
VII
VIII
satisfaction
Goodwill and reputation
Eliminates imitations
Table 4.14
Opinion regarding Sitaram products\services
Opinion
Number of customers
Excellent
19
14
9
3
5
50
Very good
Good
Not good
No opinion
Total
Percentage
38
28
18
6
10
100
Number of customers
Percentage
Expensive
18
12
10
5
36
24
20
10
10
50
20
100
Out of stock
Delay in delivery
Not as per expected
quality and quantity
Limited offers\prizes
Total
The important factor that causes the brand which must be studied deeply to
overcome various future perspectives are Expensive, Out of stock,Delay in
delivery Not as per expected quality and quantity and Limited offers\prizes The
table 4.16 it is analysed that majority of the customers ie about 36percent are
of the opnino that problem of limite offers\prizes with the
product\services.among them 30percent reveled that expensive are the
Ayurvedic products\services. Out of stock and delay in delivery are another
riks\problem related with availability ie about 12percent and 10percent
repectively.At last the customers opined about the risk\problem about the
quality of the products\services.
Promotional measures
Table 4.16
Promotional measures
Promotinal
Fully
Measures
Aware
Advertisement and
Aware
Partial
Slightly
Not
Aware
Aware
Aware
Total
40
50
(80)
(12)
(8)
(100)
25
10
12
50
conferences
(50)
(20)
(24)
(100)
Co-marketing programs
18
12
10
50
(36)
(24)
(16)
(20)
(4)
(100)
public relation
activities through
various medias
Consumer education by
conducting seminars and
Table 4.17
Perception of Customers about Brand Awareness and its
Effectiveness
Statement
Strongly
Agree
Neutral
Disagree
Agree
Brand awareness
creates trust
worthiness and
Strongly
Disagree
12
16
13
(24)
(32)
(26)
(12)
creditability
50
(100)
(6)
leads to purchase
intensity
Allow savings of
time and energy
through identical
14
15
10
50
(8)
(28)
(30)
(20)
(14)
(100)
18
12
50
(6)
(16)
(36)
(24)
(18)
(100)
13
15
11
50
(26)
(30)
(22)
(10)
(12)
(100)
17
15
50
(16)
(34)
(30)
(14)
(6)
(100)
repurchasing and
loyalty
create a positive
and prominent
meaning in the
mind of
consumers
Branded
products creates
brand monopoly
in the target
market
Reduce the wide
selection and
choice
CHAPTER- 5
SUMMARY OF FINDINGS,
SUGGESTION AND CONCLUSION
A. SUMMARY
The study proved that the brand has almost got good awareness
level among the consumers. Among the 50 samples taken almost
always used the product. Although they got an inspiration from the
media advertisement, which paves the way that advertisement is
effective marketing tool.As the basic step of creating the brand
awareness has been successfully done by the firm itself, now it is much
easier for the firm to penetrate into the market by having a good place
in the minds of the consumer. The study in the company proved to be a
good experience as the researcher was able to get a lot idea about the
various aspects dealt within and outside the firm. This study has
proved that there is good level of brand awareness among the
consumers and the brand Sitaram is having a good future in the
Ayurveda industry although the competition is tightening day by day.
This study provides a summary of the findings, suggestion and
conclusion of the study.
B. FINDINGS
The major findings emerged out of the present study are summarized
below
I Socio-Economic Profile of customers
Gender wise classification revealed that 64 percent are male ang
36percent age female.
Age wise classification showed that majority of the respondents
are in the age group 40-50 represents the middle age people who
are more aware about the traditional Ayurvedic medicines and
treatment.
Area wise classification of the respondents showed that , majority
of the customer ie about 66percent covered in the study are
residency in semi-urban area.
Marital statuses of the customers showed that 80percent of the
respondents are married.
Educational wise classification of respondents showed that
majority 26percent of them have Plus Two\PDC, followed by
Graduation.
Majority of the respondents are business\professionals about
24percent shown by occupation wise classification.
Income wise classification shown that majority ie26percent
belongs to the income group of Rs.20,000-25,000.
II Brand Awareness and its Effectiveness
Majority of them responded that they regularly used it in their
daily life ,weekly and fortnightly.
Almost all customers using branded Ayurvedic products\services
in their daily life. Major reason for choosing them are they have
no side effects, other important reasons influences them for using
them are its credibility, previous experience and emotional
attachment associated with it.
c. SUGGESTIONS
Based on the findings of the study , the following suggestions are made
for promoting brand awareness
Better solution for promoting more and more brand awareness is to
make proper and effective communication about the branded
products\services to its customers. Marketing department Sitaram
limited should also concentraded on the co-marketing\co-branded
programs by tie-up with various educational, socio-cultural
organisation for increasing the sales along with advertisement and
promotional measures. Promotional products drive traffic to booth the
tradeshows, improve response rates on direct mail campaigns, increase
referrals, return business, employee morale, encourage or retain brand
loyalty the consumer remind the consumer that the product exist. Also
the organisation must tries to promote business through word-ofmouth communication strategy which have a synergistic effect in the
growth of the brand. Opening new customer service centers for
consulting arrangements made to visit the factory and appointing field
staff are very helpful for creating and increasing the awareness among
the existing and prospective customers, which help them to know more
and more about the Ayurvedic products\services and it will induce
them to acquire it. Conducting free medical camps for needy persons
and related charitable activities should also helps in increase its brand
value.
As per the customers view points the Ayurvedic products\services are
very much expensive, even though they use it due it its value and
quality. Also because of its effectiveness without any side effects.More
over semi-urban people suggested that as they use the
products\services to a certain extend no offers\prizes were allowing to
the prospective customers.Also the company should take necessary
D CONCLUSION
Creating brand awareness is one of the key step in promoting a
product. Brand awareness is developed through enhanced perceived
quality, brand loyalty and brand equity, which cannot be either
destroyed or build in a short run but can be created in long run through
careful designing marketing investments . .
From the findingsof the study it has proved that the brand of Sitaram
has got good awareness level among the consumers in the district of
Thrissur. As there exists a lot of big brands in the ayurvedic field it is
really important that there is a good brand name maintained by
Sitaram. This is the only way out of better their market for the
products. All the consumers who were selected as the samples heard
the name of brand quite well and this is a good sign to the company.
Especially in the field medicines, only if the brand is popular among
consumers the company can accept great demand for the products. So
from the project done it was clear that the brand of Sitaramproducts\
services is quite well known and this is a sign of bright future for the
brand.
BIBLIOGRAPHY
Books
oC.R.Kothari,Research methodology,2 nd Edition, New
Delhi, Wishwa Prakashan.
o Beri.G.CMarketing research(2003)3 rd Edition, Tata
McGraw Hill Publising Company Limited, New Delhi.
o Kotler Philip, Maarketing Management, Personal
Education Publicaton
Journals
o Aaker, (1991) .Brand Equity Investment really Worthwhile.
Advertising Age 65(30):18.
o Aaker,(1996).Measuring Brand Equity across Product and Markets.
California Management review, Vol. 38No. 3,pp. 102-20.
o Blumenthal, D. and Bergstrom A.J(2003). Brand Councils that Care:
Towards the Convergence of Branding and Corporate Social
Responsibility. Brand Management 10(4\5):327-341.
o Cavero and Cedollada, (1997).Brand Choice and Marketing Strategy:
An application to the market of laundry detergent for delicate clothes
in Spain. Journal of international consumer.
o Chieng Fayrene ,Y.L and Goi Chai Lee(2011). Customer- Based
Brand Loyalty.Journal of Art, Science and Commerce, Curtin
University of Technology, Malaysia, vol 2 Issue 1 January 2011.
o Hoffler and Keller (2002). Building Brand equity through Corporate
Societal Marketing. Journal of public policy and marketing.21 (1), 7889.
o Kambiz Heidarzadeh Hanzaee and Hamid Saeedi(2011) . A Model of
Destination Branding for Isfahan City, Interdisciplinary journal of
research in business, vol.1,Issue 4,pp.12-28.
Website
http://www.SitaramAyurveda.com
http://www.itmonline.org/arts/ayuriind.htm
http://www.computerworlg.com/action/article.do
www.wikipedia.com
www.isma.info/dusyalar/74.81
http://marketing-bulletin.massey.ac.nz
ijcrb.webs.com
newhope360.com
APPENDIX
Questionnaire
Dear Respondent,
The data collected will be strictly used for research purposes. Please put a
sin the appropriate bubble except ranks and descriptive question.
I. Personal Details
1. Name:
2. Gender
Male
3. Marital Status
Single
4. Age
Below 20
30- 40
50 - 60
Female
Married
20-30
40-50
Above 60
5. Locality Urban
Semi urban
6. Educational Qualification
High School
Diploma / Technical
Post Graduation
7. Occupation
Govt. Employees
Business/Professionals
Others (specify)............................
8. Monthly Income(Rs.)
Below 10,000
15,000 20,000
Above 25,000
Rural
Plus Two /PDC
Graduation
Others(Specify)..
Private Employees
Students
10,000-15,000
20,000 25,000
d. Often
e. Rarely
10.
Reasons for choosing Ayurveda products (Rank them in the order of
importance)
a. Effectiveness
c.Previous Experience
b.No side effects
d .Credibility
e.Emotional attachment
11. Source of inspiration for using Sitaram Ayurveda Products / Services
a. Prescription by doctor
b.Advertisement through
media
c. Friends and relatives
d.Previous users
e. Own experience
12. Type of products and services preferred to purchase (Rank them in the
order of importance)
a Asavas/Arishtas
b Ghuthams
c Choornams
d Sitaram Hairton
e Dasamool cough syrup
f Sitaram Tengin Pookula Lehyam
g ksheeraguluchi Aavastui
h Allerkhand Tablet
i Asthra Plus
j PsoraHerb Oil
k..Anti-Obesity
l. abyambham
13.
a. Trust worthiness
b.Social image
c. Distinctiveness
d Perceived value and quality
e. Good will and reputation
f. Eliminates imitations
g. Brand loyalty and customer satisfaction
16.
State your opinion regarding of Sitaram products/services
a. Excellent
b.Very good
c. Good
d.Not Good
e. No opinion
17. Did you suffer anyone of the following risks/problems connected with the
availability of Sitaram Products
a. Not as per expected quality
b. Expensive
and quantity
c. Out of Stock
d. Delay in delivery
e. Limited offers/Prizes
19.Do your know the following promotional measures taken by Sitaram Ltd.
Statement
Not aware
Aware
b.Effective communication
strategies
c .Consumer education
d.Co-marketing programmes
e.Conference and seminars
20.Indicate your rating towards the following statements with regards to brand
awareness of Sitaram products
Statement
Strongly
agree
Disagree
Suggestions if any.
..
.
.