A STUDY ON CONSUMER SATISFACTION TOWARDS AYURVEDIC HEALTH PRODUCTS - WITH SPECIAL REFERENCE TO POLLACHI TALUK S.DIVYA 1 S.SARANYA 2 1 Student of PG Department of Commerce with International Business, NGM College Pollachi 2 Assistant Professor of PG Department of Commerce with International Business, NGM College Pollachi ABSTRACT Ayurvedic medicines are produced by several thousand companies in India, but most of them are quite small, including numerous neighborhood pharmacies that compound ingredients to make their own remedies. The main objectives of the study is to understand the satisfaction level of consumers towards Ayurvedic health product. Sample of 100 respondents were taken into study, and their data were collected. Samples for the purpose of the study are selected systematically. The study makes use of statistical techniques such as Percentage analysis and Chi-Square analysis. The study reveals that The ayurvedic industry which already exhibits a very high level of inter-dependence of rivals and multi-market multi-contact situations will stand to benefit immensely when the resource allocations and utilization are also performed after Mutual forbearance consideration of the rival units. The network perspective affixed along with the resource perspective would add practicality to the firms' competitive strategies, fine tuning them towards more pragmatic market maneuvering. The modern market is highly competitive in nature. Keywords: Ayurvedic, Health, Satisfaction and market INTRODUCTION Healthcare has become one of India s largest sectors - both in terms of revenue and employment. Healthcare comprises hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance and medical equipment. The Indian healthcare sector is growing at a brisk pace due to its strengthening coverage, services and increasing expenditure by public as well private players. Indian healthcare delivery system is categorised into two major components - public and private. India's competitive advantage lies in its large pool of well-trained medical professionals. India is also cost competitive compared to its peers in Asia and Western countries. The cost of surgery in India is about one-tenth of that in the US or Western Europe. Ayurvedic medicines are produced by several thousand companies in India, but most of them are quite small, including numerous neighborhood pharmacies that compound ingredients to make their own remedies. It is estimated that the total value of products from the entire Ayurvedic production in India is on the order of one billion dollars (U.S.). The industry has been dominated by less than a dozen major companies for 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 broad category of "fast moving consumer goods" (FMCG; which mainly involves foods, beverages, toiletries, cigarettes, etc.). Most of the larger Ayurvedic medicine suppliers provide www.researchscripts.org 14 editor@researchscripts.org
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. The key suppliers in Ayurveda are Dabur, Baidyanath, and Zandu, which together have about 85% of India's domestic market. These and a handful of other companies are mentioned repeatedly by various writers about the Ayurvedic business in India. STATEMENT OF THE PROBLEM In a competitive world, there are many problems in marketing of goods. Some problems can be solved, but many problems may not be solved. India is a developing country. So, most of the people are living in rural areas. Rural marketing is important for developing a country s economy. Manufacturers face many problems in marketing their product in rural areas because most of the rural consumers earn low incomes, have low levels of literacy, low levels of brand awareness, communication and transportation facilities. In the recent past, rural India has been witnessing a sea change, particularly in the standard of living and life styles. At present the consumers are more dynamic. Their taste, needs and preferences are changing as per the current scenario. The consumer now looks for product differentiation and the convenience offered. The consumer has certain expectation from branded items in terms of its quality, price and packaging. The increasing money spent on advertisement makes the consumer aware of the latest brands in the market. Conditions in rural markets do not assume an organized functioning pattern. The status of rural marketing needs to be understood in view of social dynamics and various economic and operational gap theories. OBJECTIVES OF THE STUDY To understand the satisfaction level of consumers towards Ayurvedic health product. To know the consumption pattern of Ayurvedic health product. To offer valuable suggestions to improve the usage of Ayurvedic health product. SCOPE OF THE STUDY The present study will be helpful in understanding the consumer attitude of the different strata people in the Indian society especially in Pollachi Taluk towards Ayurvedic health Products. The classification of the different people in area wise, gender wise, age wise, income wise, etc. The study will also be helpful in analyzing the customer attitude towards the different factors identified after the focus group discussions for the future studies by the researchers and academicians. It will also help in studying the effect of cosmetics purchase of the study specifically among the segment under consideration. SIGNIFICANCE OF THE STUDY The present study will be helpful in understanding the consumer attitude of the different people in the Indian society especially in Coimbatore city, Tamil Nadu towards Ayurvedic Products. The classification of the different strata of the people in area wise, gender wise, age wise, income wise, etc..the study will also be helpful in analyzing the customer attitude towards the different factors identified after the focus group discussions for the future studies by the researchers and academicians. It will also help in studying the effect of herbal purchase of the study specifically among the segment under consideration. www.researchscripts.org 15 editor@researchscripts.org
RESEARCH METHODOLOGY RESEARCH DESIGN Research design is generally a pure and simplified framework and certain plan for a study that will guide the collection and analysis of data where information needed. The function of the research design is to ensure that the required data is obtained and collected accurately and economically. Research design is basic framework, which provides guideline for the best of research purpose. SAMPLING METHOD To study the Project a Convenient Sampling Method is adopted. The study depends on primary data. A pilot study is conducted to validate the questionnaire and to confirm the feasibility of the study. Based on the pilot study, the questionnaire is modified suitably to elicit response from the sample group. SAMPLING SIZE Sample of 100 people were taken into study, and their data were collected. Samples for the purpose of the study are selected systematically. METHOD OF DATA COLLECTION The data for this study are of two types: - Primary data Secondary data PRIMARY DATA Primary data is collected from the respondent. For the purpose of collection of primary data, a well structured questionnaire is framed and filled by the respondents. The questionnaire comprises of close ended as well as open ended questions. In close ended questions, checklist questions and multiple choice questions are used. SECONDARY DATA Secondary data are collected from books, magazines, web sites etc, and both open ended & close-ended questions are incorporated in the questionnaire for the collection of data. STATISTICAL TOOLS The following statistical tools are used in the study Percentage Analysis Chi-Square Test PERIOD OF THE STUDY The period of the study is 4 months (from December 2016 to March 2017). LIMITATIONS OF THE STUDY The study is restricted to Pollachi Taluk only. The findings of the study are entirely dependent on the sample and hence cannot be generalized. Findings and conclusion are based on the data collected through these 100 samples, Since it is a time bound the researcher did not cover all requirements. www.researchscripts.org 16 editor@researchscripts.org
The researcher has collected data by convenient sampling using questionnaire and there is a possibility of certain deviations. REVIEW OF LITERATURE Miss Rupali Khanna (2015), Customer Perception towards Brand: A Study on Patanjali. The study aims to the brand perception of Patanjali in minds of Consumers. This study is based on primary data collected through questionnaires from 100 users of Patanjali Products within Punjab. To analyze the questionnaire results tools of descriptive statistics, correlation, regression and nonparametric (chi-square) test have been used. The study concluded that Patanjali in order to retain more customers and satisfy them, must fulfill the claims made by the company before any other brand may mushroom up and take away the benefits of marketing through spirituality. Shomnath Dutta (2015), Study of present market standing of Yogi Guru Ramdev s Flagship Brand Patanjali in Ayurved & Fmcg Sectors in & Around Siliguri City of North Bengal. The main objectives of the study is to the use of Patanjali s products in comparison with other rival companies in Siliguri area of North Bengal. The sample size was 26 consumers. Percentage analysis and Chisquare test have been used to analyse the data. The result of the study is to Though this marketing aspect is neglected by many companies. This marketing aspect mainly includes Product quality, Price & its fluctuating trend, Promotional campaigning, Easy availability i.e. distribution. Pujari Neelkanth M, Sachan Anupam K and Gupta Deepika (2015), Indian Consumer s Buying Behaviour and Perception to Herbal Drugs: A Report. The study aims to consumers buying behaviour and perception to Herbal Drugs. The sample size was 100 respondents. Data was analysed using structural equation modeling. The statistical technique like Frequency percentage, t-test was applied for the purpose of data analysis. The study concluded that Most of the people are using the herbal products of various pharmaceutical companies of India. People are more keen to get faster relief medications, as they are busy in rush running life. Dr. Suvarna and M. Deshpande (2015), in his study entitled, Study of Current Market Scenario & Marketing Prospects against Changing Attitude of Consumers towards Buying Of Ayurvedic Medicines in India. The methods of cure related to Ayurvedic massages, herbal therapy, yoga and traditional surgery are catching everyone s imagination very fast and promise to be the next big thing in the medical and wellness industry. The reason for this renewed interest of herbal products is attributed to the ever increasing evidence of the harmful side effects of modern synthetic products. Hence, scientific knowledge of the Ayurvedic/herbal drugs has to be transmitted out in a systematic manner to compete the international market and provide consumer Mr. J. Prasath (2014), Consumer Satisfaction towards Ayurvedic Oral and Personal Care Products with Special Reference to Coimbatore City. This study aims to analyse Consumer Satisfaction towards ayurvedic oral and personal care products among consumers from Coimbatore city. The sample of 200 respondents selected were based on convenience sampling. The collected data was analyzed by using simple percentage analysis and rank analysis. The study revealed that majority of consumers use Oral and Personal care products to improve their personal appearance and health. www.researchscripts.org 17 editor@researchscripts.org
ANALYSIS AND S I) PERCENTAGE ANALYSIS Table - 1 Consumption Pattern of Ayurvedic Health Product S.No Determinants No of Respondents 1 2 3 Buying behavior of particular Ayurvedic Herbal Product Medical shop Departmental stores Co-operative stores Others Preference of Ayurvedic Herbal Product Always Frequently Sometimes Rarely Reason for preferring the products Cheaper products Medicines of better quality Reputation of the manufacturer Branded medicines 47 47 1 5 20 23 55 2 8 65 6 21 Percentage of respondents 47 47 1 5 20 23 55 2 8 65 6 21 4 Cost of Purchase Below Rs.200 Rs.201 - Rs.500 Rs.500 - Rs.1000 48 40 12 48 40 12 5 6 7 Affected some side effects Yes No 30 70 Satisfaction level of Ayurvedic Herbal Product Yes No Level of satisfaction towards Ayurvedic Herbal Product Highly Satisfied Satisfied Neither satisfied nor dissatisfied Dissatisfied Highly dissatisfied 91 9 11 75 9 2 3 30 70 91 9 11 75 9 2 3 100 100 www.researchscripts.org 18 editor@researchscripts.org
From the above table, out of 100 respondents, Majority 47% of the respondents are buying the products from medical shop. Majority 55% of the respondents are sometimes prefer Ayurvedic Herbal products. Majority 65% of the respondents are medicines of better quality reason for prefer Ayurvedic Herbal products. Majority 48% of the respondents are spend below Rs.200 for purchasing healthcare products. Majority 70% of the respondents are use Ayurvedic Herbal products have no side effect. Majority 91% of the respondents are satisfied with these Ayurvedic Herbal Product and the majority 75% of the respondents are satisfied with using Ayurvedic Herbal products. II) CHI SQUARE Table 2 Age and H 0 = There is no significant association between age of the respondents and their level of Age Below 20 years 0 1 1 2 21-30 years 41 40 11 92 31-40 years 4 2 0 6 Calculated χ2 Value: 4.815 Degree of freedom: 4 Table Value: Five per cent level: 9.488 Since the calculated χ2 value (4.815) is less than the table value (9.488).Therefore it is concluded that there is no significant association between age of the respondents and their level of Hence, Null hypothesis is accepted. Table 3 Gender and H 0 = There is no significant association between gender of the respondents and their level of Gender Male 13 17 3 33 Female 32 26 9 67 Calculated χ2 Value: 1.522 Degree of freedom: 2 Table Value: Five per cent level: 5.991 Since the calculated χ2 value (1.522) is less than the table value (5.991).Therefore it is concluded that there is no significant association between gender of the respondents and their level of Hence, Null hypothesis is accepted. www.researchscripts.org 19 editor@researchscripts.org
Table 4 - Marital Status and H 0 = There is no significant association between marital status of the respondents and their level of Marital Status Married 16 6 2 24 Unmarried 29 37 10 76 Calculated χ2 Value: 6.028 Degree of freedom: 2 Table Value: Five per cent level: 5.991 Since the calculated χ2 value (6.028) is greater than the table value (5.991).Therefore it is concluded that there is a significant association between marital status of the respondents and their level of Hence, Null hypothesis is rejected. Table 5- Educational Qualification and H 0 = There is no significant association between educational qualification of the respondents and their level of Educational Qualification Middle 2 2 0 4 Secondary 4 2 0 6 Higher secondary 4 2 0 6 Under Graduate 13 9 0 22 Others 22 28 12 62 Calculated χ2 Value: 11.243 Degree of freedom: 8 Table Value: Five per cent level: 15.507 Since the calculated χ2 value (11.243) is less than the table value (15.507).Therefore it is concluded that there is no significant association between educational qualification of the respondents and their level of Hence, Null hypothesis is accepted. Table 6 - Occupation and H 0 = There is no significant association between occupation of the respondents and their level of Occupation Student 21 27 12 60 Self Employed 4 4 0 8 Business 4 2 0 6 Professional 2 2 0 4 Employee 6 4 0 10 Home maker 8 4 0 12 Calculated χ2 Value: 12.382 Degree of freedom: 10 Table Value: Five per cent level: 18.307 www.researchscripts.org 20 editor@researchscripts.org
Since the calculated χ2 value (12.382) is less than the table value (18.307).Therefore it is concluded that there is no significant association between occupation of the respondents and their level of Hence, Null hypothesis is accepted. Table 7 Annual income and H 0 = There is no significant association between annual income of the respondents and their level of Annual income Below Rs.50,000 23 20 5 48 Rs.50,001 - Rs.1,00,000 12 18 7 37 Above Rs.1,00,000 10 5 0 15 Calculated χ2 Value: 6.951 Degree of freedom: 4 Table Value: Five per cent level: 9.488 Since the calculated χ2 value (6.951) is less than the table value (9.488).Therefore it is concluded that there is no significant association between annual income of the respondents and their level of Hence, Null hypothesis is accepted. Table 8 Monthly Family Expenses and H 0 = There is no significant association between monthly family expenses of the respondents and their level of Monthly Family Expenses Below Rs.3000 4 10 2 16 Rs.3001 - Rs.5000 23 16 5 44 Rs.5001 - Rs.10,000 10 13 5 28 Above Rs.10,000 8 4 0 12 Calculated χ2 Value: 8.189 Degree of freedom: 6 Table Value: Five per cent level: 12.592 Since the calculated χ2 value (8.189) is less than the table value (12.592).Therefore it is concluded that there is no significant association between monthly family expenses of the respondents and their level of Hence, Null hypothesis is accepted. Table 9 - Type of family and H 0 = There is no significant association between type of family of the respondents and their level of Type of family Nuclear family 32 34 12 78 Nuclear family 13 9 0 22 Calculated χ2 Value: 4.658 Degree of freedom: 2 Table Value: Five per cent level: 5.991 www.researchscripts.org 21 editor@researchscripts.org
Since the calculated χ2 value (4.815) is less than the table value (5.991).Therefore it is concluded that there is no significant association between type of family of the respondents and their level of Hence, Null hypothesis is accepted. Table 10 Size of family and H 0 = There is no significant association between size of family of the respondents and their level of Size of family 1-3 members 28 10 5 43 4-6 members 13 28 7 48 7-9 members 4 5 0 9 Calculated χ2 Value: 15.496 Degree of freedom: 4 Table Value: Five per cent level: 9.488 Since the calculated χ2 value (15.496) is greater than the table value (9.488).Therefore it is concluded that there is a significant association between size of the family of the respondents and their level of Hence, Null hypothesis is rejected. Table 11 Know about Ayurvedic Health product and H 0 = There is no significant association between know about ayurvedic helath products of the respondents and their level of Know about Ayurvedic Health product Friends 14 13 2 29 Relatives 8 5 3 16 Family members 6 5 6 17 Advertisement 17 20 1 38 Calculated χ2 Value: 14.304 Degree of freedom: 6 Table Value: Five per cent level: 12.592 Since the calculated χ2 value (14.304) is greater than the table value (12.592).Therefore it is concluded that there is a significant association between know about ayurvedic health products of the respondents and their level of Hence, Null hypothesis is rejected. www.researchscripts.org 22 editor@researchscripts.org
Table 12 - Buy the product and H 0 = There is no significant association between buy the products and their level of Buy the product Medical shop 24 18 5 47 Departmental stores 21 24 2 47 Co-operative stores 0 0 1 1 Others 0 1 4 5 Calculated χ2 Value: 33.224 Degree of freedom: 6 Table Value: Five per cent level: 12.592 Since the calculated χ2 value (33.224) is greater than the table value (12.592).Therefore it is concluded that there is a significant association between buy the product of the respondents and their level of Hence, Null hypothesis is rejected. Table 13 - Preference of Ayurvedic products and H 0 = There is no significant association between preference of Ayurvedic products of the respondents and their level of Preference of Ayurvedic products Always 12 5 3 20 Frequently 6 13 4 23 Sometimes 27 23 5 55 Rarely 0 2 0 2 Calculated χ2 Value: 9.282 Degree of freedom: 6 Table Value: Five per cent level: 12.592 Since the calculated χ2 value (9.282) is less than the table value (12.592).Therefore it is concluded that there is no significant association between preference of Ayurvedic products of the respondents and their level of Hence, Null hypothesis is accepted. Table 14 - Cost of Purchase and H 0 = There is no significant association between cost of purchase of the respondents and their level of Cost of Purchase Below Rs.200 18 22 8 48 Rs.201 - Rs.500 21 15 4 40 Rs.500 - Rs.1000 6 6 0 12 Calculated χ2 Value: 4.119 Degree of freedom: 4 Table Value: Five per cent level: 9.488 www.researchscripts.org 23 editor@researchscripts.org
Since the calculated χ2 value (4.119) is less than the table value (9.488).Therefore it is concluded that there is no significant association between cost of purchase of the respondents and their level of Hence, Null hypothesis is accepted. FINDINGS Percentage Analysis Majority 47% of the respondents are buying the products from medical shop. Majority 55% of the respondents are sometimes prefer Ayurvedic Herbal products. Majority 65% of the respondents are medicines of better quality reason for prefer Ayurvedic Herbal products. Majority 48% of the respondents are spend below Rs.200 for purchasing healthcare products. Majority 70% of the respondents are use Ayurvedic Herbal products have no side effect. Majority 91% of the respondents are satisfied with these Ayurvedic Herbal Product. Majority 75% of the respondents are satisfied with using Ayurvedic Herbal products. Chi-Square Test There is no significant association between age of the respondents and their level of Hence, Null hypothesis is accepted. There is no significant association between gender of the respondents and their level of Hence, Null hypothesis is accepted. There is a significant association between marital status of the respondents and their level of Hence, Null hypothesis is rejected. There is no significant association between educational qualification of the respondents and their level of Hence, Null hypothesis is accepted. There is no significant association between occupation of the respondents and their level of Hence, Null hypothesis is accepted. There is no significant association between annual income of the respondents and their level of Hence, Null hypothesis is accepted. There is no significant association between monthly family expenses of the respondents and their level of Hence, Null hypothesis is accepted. There is no significant association between type of family of the respondents and their level of Hence, Null hypothesis is accepted. There is a significant association between size of the family of the respondents and their level of Hence, Null hypothesis is rejected. There is a significant association between know about ayurvedic health products of the respondents and their level of Hence, Null hypothesis is rejected. There is a significant association between buy the product of the respondents and their level of Hence, Null hypothesis is rejected. There is no significant association between preference of Ayurvedic products of the respondents and their level of Hence, Null hypothesis is accepted. There is no significant association between cost of purchase of the respondents and their level of Hence, Null hypothesis is accepted. www.researchscripts.org 24 editor@researchscripts.org
SUGGESTIONS The companies targeting various consumers should consider various demographic, physiological and socio-economic factors before devising their marketing strategy. Formulation of strategy should be based on proper understanding of needs and gaps existing market place. Marketer should include your attitude and personal appeal in their advertising communication as the consumer buy Ayurvedic products on their own. CONCLUSIONS The ayurvedic industry which already exhibits a very high level of inter-dependence of rivals and multi-market multi-contact situations will stand to benefit immensely when the resource allocations and utilization are also performed after Mutual forbearance consideration of the rival units. The network perspective affixed along with the resource perspective would add practicality to the firms' competitive strategies, fine tuning them towards more pragmatic market maneuvering. The modern market is highly competitive in nature. The consumer is the king in the market. The importance gained by the individual consumer in the present market compel the marketers to look the buying habits, preferences, taste, like and dislikes of consumers and accordingly they need to revise its policies and marketing mix. While purchase of health product, the consumers are found more quality conscious preferred to purchase ayurvedic products, they wait for the brand during nonavailability, become emerging as important source of information and inspite of impact of other factors, the actual brand decision is taken by themselves. REFERENCE Prof. Nilesh Anute,et al (2015), Consumer Buying Behavior towards Cosmetic Products, International Journal in Management and Social Science, Vol.03, Issue-07,pp.25-34. Prof. Rajeev V. Sawant (2014), Consumer s Perception For Ayurvedic Therapy In Rural Market With Special Reference To Nashik District, International E-Journal of Ongoing Research in Management, Vol 5, Issue 1, pp. 1-5. Pujari Neelkanth M, et al (2015), Indian consumer s buying behaviour and perception to herbal drugs, International Journal of Progressive Pharmacy, Vol. 1 Issue 1, pp.11-19. www.researchscripts.org 25 editor@researchscripts.org