Sahil Marketing Specialisation

MARKETING SPECIALISATION PROJECT ON
“UNDERSTANDING MARKET POTENTIAL AND CUSTOMER PURCHASE DRIVERS OF

HIMALAYA WELLNESS COMPANY”
SUBMITTED IN PARTIAL FULFILLMENT FOR THE AWARD OF THE DEGREE OF
MASTER OF MANAGEMENT STUDIES (MMS)
(UNDER UNIVERSITY OF MUMBAI)
SUBMITTED BY:
Mr. Sahil Singh Panwar
ROLL NO: 127
BATCH: 2022-24
UNDER THE GUIDANCE OF
Dr. Sana Khan
Assistant Professor (Marketing)
MET’s INSTITUTE OF MANAGEMENT
BHUJBAL KNOWLEDGE CITY,
MR. SAHIL SINGH PANWAR 1 of 62

BANDRA RECLAMATION, BANDRA, MUMBAI - 400 050
Marketing Specialization Project on

“UNDERSTANDING MARKET POTENTIAL AND CUSTOMER PURCHASE DRIVERS OF
HIMALAYA WELLNESS COMPANY”
Submitted to
MET INSTITUTE OF MANAGEMENT

Under the guidance of
Dr. Sana Khan
MET Institute of Management, Mumbai, India
SUBMITTED BY
MR. SAHIL SINGH PANWAR
ROLL NO: 127
“MARKETING”
MMS BATCH: 2022-24

CERTIFICATE
This is to certify that project titled “Understanding market potential and customer purchase drivers of
Himalaya wellness company” has been submitted by Mr. Sahil Singh Panwar, towards partial fulfilment
of the requirements of the MMS degree course 2021- 23 and has been carried out by him under the
guidance of , Dr. Sana Khan (Marketing), MET IOM, at the MET Institute of Management, affiliated to
the University of Mumbai. The matter presented in this report has not been submitted for any other
purpose in this Institute.
Guide: Dr. Sana Khan Director: Dr. Swati Lodha

Associate Professor (Marketing), MET IOM MET IOM
Place: Mumbai Place: Mumbai
Date: Date:

MUMBAI EDUCATIONAL TRUST, INSTITUTE OF MANAGEMENT
UNIVERSITY OF MUMBAI
DECLARATION
I hereby declare that this Project report submitted in partial fulfilment of the requirement of the award for
the marks of Masters in Management Studies (MMS) to MET Institute of Management, is my original
work and not submitted for award of any degree or diploma, fellowship or for similar titles or prizes. I
further certify that I have no objection and grant the rights to MET Institute of Management to publish
any chapter / project if they deem fit in Journals/Magazine and newspapers, etc without my permission.
Name: Sahil Singh Panwar (Signature of student)

Course: Masters in Management Studies (MMS)
Roll No: 127
Date:
Place: Mumbai

ACKNOWLEDGEMENTS
At the outset I would like to express my sincere gratitude to Dr. Sana Khan, Professor (Marketing),
MET IOM for providing me the opportunity to complete this project under her supervision. I am indebted
to her for her guidance, help and encouragement in bringing this project to completion. This was indeed
a valuable learning experience. I am indebted to Dr. Swati Lodha, Director, MET IOM who has been a
source of inspiration for this project and Dr. Nitin Kulkarni who have helped, encouraged and inspired
with their constructive ideas and overall support towards the completion of this project. Lastly, I would
extend my gratitude to other faculty members, my colleagues, friends and my parents for their assistance
and suggestions in making this project successful. I perceive this opportunity as a milestone in my career
development. This has helped me to understand and learn a lot through academic as well as practical
industry exposure.
Name of Student: Sahil Singh Panwar (Signature of student)

MMS: 2022-2024
Roll no: 127
Date:
Place: Mumbai

TABLE OF CONTENTS
Sr. No. Contents Page

No.
I Cover Page 1
II Title 2
III Certificate 3
IV Declaration 4
V Acknowledgements 5
VI Table of Content 6
VIII Executive Summary 7
IX Introduction 8
X Company Profile - Background and information 10
XI Literature Review 20
XII Research design and Objectives of the Project 23
XIII Importance of market potential and customer buying motives 28
XIV Data analysis and interpretation 30
XV Findings, Suggestions and Conclusion 46
XIV Bibliography and Annexure 49
XV Questionnaire 56

EXECUTIVE SUMMARY
The project "Understanding Market Potential and Customer Purchase Drivers of Himalaya Wellness
Company" seeks to delve into the intricacies of the wellness market, focusing on Himalaya Wellness
Company's products. Through extensive research and analysis, the aim is to unveil critical insights that
will aid in refining marketing strategies, product offerings, and customer engagement approaches.
This initiative will involve thorough exploration of market dynamics, competitor landscape, and
emerging trends to identify growth opportunities for Himalaya Wellness Company. Moreover, it will
delve deep into consumer behavior, deciphering the underlying factors influencing purchase decisions
within the wellness segment.
Utilizing a blend of qualitative and quantitative research methods, including surveys, interviews, and data
analysis, the project aims to uncover actionable insights. These insights will enable Himalaya Wellness
Company to enhance its market positioning, innovate products, and foster stronger connections with its
target audience.
The anticipated outcomes include a heightened understanding of market nuances, the development of
targeted marketing strategies, and the identification of avenues for product innovation. Ultimately, the
project aims to facilitate sustainable growth for Himalaya Wellness Company by aligning its strategies
with market demand and consumer preferences.

INTRODUCTION
It is detailed study of market potential performance to detect strengths and weaknesses. The
gathering, classifying, comparing & studying of company's sales data, strictly speaking, gathering of
sales data is not a part of analytical effort s but it substantially and vitally affects the quality of market
potential. Market potential provides additional information. For example, that the increased sales
volume came from product carrying a lower-than-average gross margin.
Through sales analysis, management seeks insight on strong and weak territories, high volume,
low volume products and type of customers providing satisfactory and unsatisfactory sales volume. It
uncovers details that otherwise lie hidden in the sales record. It provides information that management
needs to allocate sales efforts effectively.
If sales management relies on the raw data, the result may be misleading. It depends solely on
summary of the sales data. It has no way to evaluate the effectiveness of its own activities and those of
the sales force if we say that sales have gone up by 5% over previous years with 1% decline profit.
Market potential provide the management with additional information make an in-depth study
of why the margin is insufficient though sales management seeks insight on the sales territories with the
most satisfactory and the least satisfactory sales volume. Market potential will then uncover significant
details because it is so. It provides necessary information, management need in order to allocate future
sales effort effectively. The role of sales manager in market potential is to make a detailed analysis of
the available data ad use them properly to initiate action.
The sample selection process requires the form of sample be specified. For this purpose,
researcher has subjectively decided which particular group will be part of the study. In a sample survey
a small part of the entire population is subjected to the research. This sample is considered to be the
true representative of the entire universe and decided upon certain criteria.
Data for market potential: Market potential is nothing but to collect, classify, study the
company sales data. Collection of data is not part of analytical part, but it vitally affects the quality of
the sales analysis. Market potential is generally based on data already in existence.

It is called secondary data. Secondary data may be gathered either from internal sources such
as invoice or shipping records or from external sources such as marketing research agencies,
government agencies, trade association and trade journals. Secondary data are often readily available,
but their use should be with caution. The sales management has to rearrange them according to their
needs.
Himalaya Wellness Company maintain their internal sales records in some detailed manner
showing individuals sales, sales by products, by classes of customers, by size of order and other
pertinent break downs of sales data.
Data are sometimes especially collected for the purpose of finding the market potential. This
may be called primary data and may be collected under the control of sales management according to
its needs.
The main purpose of market potential is to convert raw sales data into actionable information
for sales manager. The process involving editing, tabulating and cross tabulating and also breaking
them down into various way to make them comparable.
When the sales planning is done, the sales manager finds out the potential market. Sales
manager collects the information and analyses it and then compare the actual one with standards.
An evaluation program review both the nature and extend of sales force efforts and influence of
external variables, once the degree of influence of controllable and uncontrollable factors are determined.
Sales management can decide whether to corrective action or to revise the sales plan or both.
MARKET SIZE
India to have that with the greater digital adoption, the Indian healthcare market, which is worth
about $ 200 billion, will grow at a compound annual rate of 28% up to $ 280 billion by 2025. The health
care market can increase up to four times to $ 472 billion in 2025. India experience 28-32% growth of the
medical industry is expected to double from today (April 2017) from $ 5 billion to $ 20 billion from r. By
2020. Medical tourists in India have increased by more than 50 percent to 200,000 in 2016 from 130,000
in 2015 The healthcare information technology market is currently valued at US $ 1 billion (April 2016)
and is expected to increase 1.5 times by 2020. More than 80 percent of the antiretroviral drugs used
worldwide to fight Acquired Immune Deficiency Syndrome (AIDS) are provided by Global
pharmaceutical companies. A total of 3,598 hospitals and 25,723 dispensaries across the country offer
AYUSH treatments (Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy), thus ensuring

the availability of alternative medicines and treatments for people. In 2017, the Indian government
granted subsidies for the establishment of AYUSH educational institutions in the states and territories of
the Union.

COMPANY PROFILE
The Himalaya Wellness Company is an Indian company established by M Manal in 1930 and based in
Bengaluru, Karnataka, India. It produces health care products under the name Himalaya Herbal
Healthcare whose products include ayurvedic ingredients. It is spread across locations in India, United
States, Middle East, Asia, Europe and Oceania., while its products are sold in 92 countries across the
world. The company has more than 290 researchers that utilise ayurvedic herbs and minerals. A Hepatic
drug, named Liv.52, is its flagship product, first introduced in 1955. Liv.52 to date has now over 215
clinical trials backing it. Himalaya Global Holdings Ltd. (HGH) is the parent of The Himalaya Wellness
Company worldwide. It is also the global headquarters of all Himalaya subsidiaries. Founded by M
Manal, the company was founded to commercialise the roots and herbs products being used in natural
form earlier. Today, the company has offices across the globe, including India, USA, South Africa and
other countries in Europe, middle east, and Asia.
Global markets
As of 2022, the company sold its products in 91 countries with about 60% of its revenue from outside
India.
Products
Himalaya Herbal Healthcare has a very wide range of products, which include "pharmaceuticals, personal
care, baby care, well-being, nutrition and animal health products. "The Neem Face Wash is one of their
most popular and well-known products. Mothercare products have been launched in 2016 with foray into

extensive research and development in systems of ancient Ayurveda medicines of India. The company
has a presence in 92 countries.
History of Himalaya:
Eighty years ago, on a visit to Burma, Himalaya’s founder, Mr. M. Manal, saw restless elephants being
fed with a root to pacify them. The plant from which this was taken is Rauwolfia serpentine. Fascinated
by the plant’s effect on elephants, he had it scientifically evaluated. After extensive research, Serpina, the
world’s first anti-hypertensive drug, was launched in 1934. This legacy of researching nature forms the
foundation of Himalaya’s operations. Himalaya uses the tools of modern science to create
pharmaceutical-grade ayurvedic products. We have pioneered research that has converted Ayurveda’s
herbal tradition into a complete range of proprietary formulations dedicated to healthy living and
longevity. Today, these products have found acceptance with medical fraternities and serve the health and
personal care needs of consumers in 67 countries.
VISION
To bring ‘Ayurveda – the source of natural medication’, to the society in a modern-day form and to
untangle the mystery behind the 5000-year-old system of medicine.
MISSION
To Establish Himalaya as a science based, problem solving holistic brand with its source entrenched in
the ancestry of nature and characterized by trust and healthy lives
PRODUCT & SERVICES
Himalaya’s products can be broadly classified into 3 main ranges viz.
Healthcare
Health maintenance, eye care, skin care, cardiac care, immune booster and cough control
Personal Care

Health care, oral care, hair care, skin care and baby care
Animal Health
Daily care products for sensitive cats and dogs Each of the products under the categories mentioned above
are ayurvedic and have no side effects after use.

Himalaya Wellness Company, commonly known as Himalaya Herbals, is a renowned global brand that specializes
in producing herbal healthcare, personal care, and pharmaceutical products. Founded in 1930 by M. Manal in India,
the company initially focused on producing herbal medicines. Over the years, it has expanded its product range to
include a wide variety of wellness and personal care products.
Himalaya Wellness Company is known for its commitment to utilizing natural ingredients and traditional
Ayurvedic principles in formulating its products. This emphasis on herbal ingredients and Ayurvedic practices has
contributed to the brand's reputation for quality and efficacy.
The company's product range includes items such as health supplements, skincare products, hair care solutions,
baby care products, oral care essentials, and veterinary products. These products are marketed globally and are
trusted by millions of consumers for their effectiveness and safety.
Himalaya Wellness Company has established a strong presence in numerous countries across the world, with a
significant market share in various segments of the wellness and personal care industry. Its products are available
through various distribution channels, including pharmacies, supermarkets, online platforms, and Himalaya
Wellness Centers.
In addition to its focus on product quality, Himalaya Wellness Company is also committed to sustainability and
social responsibility. The company engages in eco-friendly practices, supports community development initiatives,
and adheres to ethical business practices.
Overall, Himalaya Wellness Company continues to be a leading player in the global wellness industry, offering
high-quality herbal products that cater to the diverse needs of consumers worldwide.

SWOT Analysis
Strengths
1. Favorable Location for Business - The business benefits significantly from its location in the foothills
of the Himalayas, conveying an organic essence to customers and providing an advantageous backdrop.
2. Positive Customer Perception - The brand name instills a favorable impression among
customers, further bolstered by the manufacturing of products in the Himalayan foothills,
reinforcing trust in the brand.
3. Pioneering Position - The brand gained a competitive edge by pioneering the frozen foods
market, establishing itself as an industry leader.
Weaknesses
1. Large Working Capital Requirement - The business necessitates a significant amount of

capital for its operations, leading to a continuous need for cash flow to ensure the timely delivery
of end products to customers.
2. Heavy Reliance on Raw Materials - The business heavily depends on seasonal raw
materials, making their availability crucial. Any shortage of raw materials not only
hampers manufacturing but also escalates costs, as excessive cultivation and storage are
required to ensure a steady supply.
3. Vulnerability of Crops - Crops are highly susceptible to preservatives and pesticides
used in cultivation, resulting in increased production costs due to potential crop losses.
Opportunities
1. Expanding into Global Markets - There is a ripe global market for organic produce, making it
advantageous for the business to expand its operations internationally. With evolving customer
preferences, strategic marketing efforts can yield substantial benefits for the business.
2. Beneficial Shift in Demographics and Segmentation - The business stands to gain from the
evolving consumer lifestyles, which increasingly favor organic products. This trend is driving
growth within the industry.

3. Strategic Marketing and Promotion - Given the nascent nature of the industry, effective
marketing and promotion strategies can play a pivotal role in its development. By highlighting
the benefits of organic products, the industry can be nurtured, and products can be positioned
favorably in the market.
Threats
1. Elevated Inventory Expenses - The business experiences heightened costs due to the
substantial investment required for crop cultivation, leading to high manufacturing expenses
and consequently, elevated inventory costs.
2. Potential Entrants Pose Threat - With ongoing development in the industry and significant
research attracting established global players, the emergence of new competitors poses a
challenge to the business.
3. Price Sensitivity Amid Financial Crisis - Amidst global financial uncertainty, the high cost of
products presents a challenge. Effective marketing is crucial to educate consumers about the
value proposition of the products, helping them recognize their importance despite the higher
price point. Big consulting and outsourcing companies have captured a huge market
share.

Himalaya Face Wash Marketing Strategy
The Himalaya neem face wash has a market share of 24%, which is quite an impressive number for its
industry. The company has nailed down its target audience by rightly segmenting and targeting their
desired base, and then positioning their brand accordingly. Let’s get to know how.
Market Segmentation of Himalaya

The Himalaya neem face wash is a soap-free, herbal formulation that gets rid of impurities and helps
clear pimples. The company claims that it is a natural blend of neem and turmeric that also prevents the
recurrence of acne over time. The product is thus, largely popular amongst young people who suffer
from skin problems and acne. The company thus segments on the basis of age. They also segment
based on geographic and income factors, as they’re present in both urban and rural areas with different
brand messaging, advertising and product variants. For example, the company specially developed their
5 rupee sachets to penetrate the rural markets.
Targeting
As we just discussed, Himalaya neem face wash targets consumers who suffer from skin problems and
acne, particularly the youth, i.e people between the age group of 15 – 25 since they fall under this
criteria. Since Himalaya is an ayurvedic company, they also focus on people who still have faith in the
age-old ayurvedic methods. This is because the practice of ayurveda is met with a lot of flak in today’s
times, being a potential factor in driving away customers. Targeting those who actively prefer it is
definitely a good approach.
Positioning
Himalaya face wash positions itself as an ayurvedic, chemical-free face wash that provides skincare
solutions to the masses. The brand focuses on all types of consumers, urban and rural alike, and this
reflects in its positioning and advertising. They ensure this messaging is turned into sales by way of their
widespread distribution network, ensuring accessibility.
Clearly, the brand has been able to stand out amongst its segment and create a varied consumer base.
But that is not without the threat of competitors. Let’s take a closer look at them.

Competitors of Himalaya Face Wash
Himalaya’s neem face wash has various competitors, old established products as well as new entrants.
We shall talk about some of their major competitors.
Neutrogena
Neutrogena’s deep clean facial cleanser and oil-free acne face wash are competitors to the neem face
wash as they’re in the same product category, and marketed to similar consumers. Neutrogena also
claims to have anti-acne and blackhead properties. Its target market is young adults who are conscious
of personal skincare.
Clean & Clear

Clean & Clear’s foaming face wash is an extremely popular consumer pick in India and is also quite
affordable. The company mainly markets towards working professionals and college students and has
positioned itself as a quality product dealing with facial oil and dirt. Their ads directed towards college-
going girls are known to be popular and relatable.
Lotus Herbals
The anti-acne oil control face wash by Lotus is a close alternative to Himalaya’s as they’re both in the
herbal space. It also joins Himalaya in most top face wash lists. But the neem face wash generally
always ranks higher according to customer reviews and feedback.
Garnier
Garnier’s neem face wash is also almost identical to Himalaya’s in terms of ingredients and solutions
offered. Although Himalaya is wildly more popular and recognised in the market, close alternatives are
always a threat. So far Himalaya has maintained its competitive advantage and loyal consumer base
very effectively.
These are some of the brands that the Himalaya neem face wash is competing in the market with, under
its category of acne combating face washes.
Along with factoring in competition, it is also important to understand a business’ various other
external and internal factors that could bring higher potential growth, or if left unaddressed, its
downfall. Conducting a SWOT analysis is the perfect tool to do so. Let’s look at Himalaya face wash’s
SWOT analysis.

Himalaya Face Wash SWOT Analysis
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats, and hence a SWOT Analysis is a
technique for assessing these four aspects of a business, for the purposes mentioned above. Following
is the SWOT Analysis for Himalaya’s face wash:
Opportuni
Strengths Weaknesses Threats
ties
Diversifyin
Powerful Their digital
g their
brand image marketing needs Other ayurvedic face wash
men’s
and to be improved. brands such as Safi, Lotus,
face care
international Particularly weak Kama, Mamaearth, etc.
product
presence. SEO.
line.
Digital
Well-known Marketing
Various new entrants capitalising
and distinct and
Similar product on the current trend and
brand in the greater
offerings. demand for clean beauty and
ayurvedic online
chemical-free products.
industry. promotion
.
High
customer
retention.
We understand from the analysis that the brand mainly needs to develop its SEO and figure out more
distinct competitive advantages in order to sustain its solid position in the market.
Apart from traditional media, Himalaya also has an active social media presence. Let us gain insights
into their digital efforts.
Himalaya Face Wash Digital Marketing Presence

Himalaya has special social media accounts under the ‘Himalaya Face Care’ brand name on certain
platforms. This is where they market the neem face wash. We browsed their official pages and learnt
the following:
• They have 52.1k followers on Instagram, 14K followers on Twitter, 136k subscribers on
YouTube and 227k likes on Facebook.
• They conduct customer engaging campaigns on their social media. For example, the
#MyFirstPimple campaign was one where they asked customers to share the stories of their first
pimples and use the hashtag. Another one was #Facepack&What, where they encouraged
customers to post selfies of the activities they do whilst wearing a face pack. They repost all of
these and interact with consumers.
• The company also practices influencer marketing and collaborates with Instagram bloggers and
influencers.
• Exciting and interactive short games are hosted on their Instagram that consumers can
participate in virtually and send across their entries.
• Their YouTube page is filled with videos of their advertisements, dubbed into regional
languages. These garner a lot of views and are evidently a great way to reach wider audiences.
• Festive marketing is also a part of their social media strategy, as they conduct campaigns on
Diwali, Christmas, Women’s Day, Onam, etc.

LITERATURE REVIEW
Mahaboob Basha (2020) This article highlights “A Study on Consumer Behaviour towards
FMCG Goods an Empirical Study with Special Reference to Nellore District of Andhra Pradesh. The
author finds that creating awareness regarding products is essential to grab the market in the competitive
world. The researcher evaluates that when customer satisfied the purchasing level of the customer would
gradually increase by that the sales of the company will increase. Here in this research work researcher
is trying to find out differences in the opinion of consumers based on Age, educational qualification,
location and gender regarding consumer behaviour towards fast moving consumer goods in Nellore
District of Andhra Pradesh.
Ganesh (2019) In his article titled Consumers’ Perception towards Brand Loyalty of FMCG
Products -An Analysis. The author analysed that the consumers’ perception towards +brand loyalty of
the FMCG product is awareness, knowledge, attitude of the brand, risk aversion to change the brand,
satisfaction and brand trust of the consumers, variables namely brand, image, product quality, product
knowledge, product involvement, products attributes and brand loyalty of consumers. Singh and Sharma
(2019) analysed the customers’ perception towards brands of cosmetic products. The study used
exploratory-cum-descriptive research design. It was used judgment sampling to select female
respondents from the Hisar city of the Haryana State.
The study found that Majority of the customers used the major cosmetics like shampoo,
powder, cream. Lakme is the top brand of cosmetic which are preferred by customers. Vibhuti, et.al
(2019) In their article titled “A study on Consumer Buying Behaviour towards Selected FMCG Products”
The consumer behaviour plays an important role in marketing of fast-moving consumer goods. The
authors highlighted that the present era of globalisation needs and wants of consumers changes with time.
The fast-moving consumer goods (FMCG) sector contributes a lot to the growth of India’s www.ijcrt.org
© 2021 IJCRT | Volume 9, Issue 4 April 2021 | ISSN: 2320-2882 IJCRT2104573 International Journal of
Creative Research Thoughts (IJCRT) www.ijcrt.org 4773 GDP. Therefore, it is necessary to identify the
changes in consumer buying behaviour towards FMCG products.
The study reveals examines the factors affecting consumer buying behaviour towards
FMCG products and finally effecting their decision-making process. The study found that consumer
behaviour is largely affected by place, product, price, promotion, physiological and psychological factors.
However, effect of these factors also differs from product to product. Thanikachalam (2019) In his article
highlights “the consumer behaviour towards fast moving consumer goods in Puducherry.” The

importance promotional offers, availability of brands are important that companies must give it sufficient
consideration before they plan and implement their marketing strategies.
The FMCGs sector is a very dynamic sector in India. A major goal is to satisfy the needs
and wants of consumer and their target markets more effectively and efficiently. Thanisorn and Byaporn
(2018) investigated the factors that influence perception of Thai consumers on facial herbal cosmetic
products in Thailand. They revealed that most of the interviewees were female with age between 26-30
years, casual worker, bachelor's degree being the highest education and salary from 10,000 -15,000 baht
($285-430) per month. The marketing mix (4Ps: product, price, place and promotion) were the key factors
influencing Thai consumers’ perception on facial herbal cosmetic products.
The result found that Thai consumers were satisfied with physical appearance of products;
texture, odour, penetration characteristic and viscosity. Thai consumers trust in the safety of the Thai and
imported products. The imported products have new manufacturing technologies of production compare
with the Thai products but imported products are more expensive than Thai products. Thai consumers
were satisfied with packaging design and pump bottle shape of imported products.
The imported products had more interesting marketing promotion than the Thai products.
The marketing promotions are new product premium, promotion campaign eg. Cash discount, gift
premium, fortune, tarot horoscope, makes up and massage workshop. Eze et al. (2018) examined the
influence of brand image, product knowledge, product quality, and price promotion on consumers’
purchase intention for cosmetic products. They used a survey questionnaire to collect 204 responses from
Generation Y female consumers in Malacca, Malaysia.
Data collected were analysed using multiple linear regression. The findings revealed that
product image, product knowledge and brand image emerged with a significant influence on intention to
purchase cosmetics. However, price promotion was not significant. Sarfaraz and Pratik (2018) examined
the consumer’s perception towards the private label and feeling associated with the purchase of private
label brand with special focus on Anand and Vadodara region. The study aimed to uncover current
consumer perceptions and attitudes towards, private label brands in the FMCG sector. The results of the
study indicated that the private label brands can be positioned as premium quality products with price
levels ranging from marginally below to the prices of category-leading manufacturer brands.

On the other hand, retailers can position their private label brands based on pure value
www.ijcrt.org © 2021 IJCRT | Volume 9, Issue 4 April 2021 | ISSN: 2320-2882 IJCRT2104573
International Journal of Creative Research Thoughts (IJCRT) www.ijcrt.org 4774 for money. This
equates to average quality products at very affordable prices. Unfortunately, private label brand
packaging was considered, for the most part, to be unattractive and failed to convey a sense of high
product quality. A key limitation of this study was the sampling frame.

RESEARCH PROBLEM
1) Due to high price of the product, it may be unaffordable for people of rural areas to pay for the product.
2) Giant competitors in the market like Colgate, Pepsodent that are already establish in the market.
3) Himalaya needs to reach out to more customers.
RESEARCH METHODOLOGY
What is Research Methodology?
• A Voyage of Discovery, A journey, An Attitude, An Experience, A Methods of Critical Thinking, A
Careful critical Enquiry in seeking facts for principles.
• An Art of scientific investigation
• A Systemized effort to gain new knowledge, a movement from known to the unknown.
Types of Research Methodology

• Exploratory Research
Exploratory research is a type of research conducted for a problem that has not been clearly defined.
Exploratory research helps determine the best research design, data collection method and selection
of subject. It should draw definitive conclusion only with extreme caution. Given its fundamental
nature, exploratory research often concludes that a perceived problem does not actually exit.
• Constructive Research
Constructive research is perhaps the most common computer science research method. This type of
approach demands a form of validation that doesn’t need to be quite as empirically based as in other
types of research like exploratory research.
• Empirical Research
Empirical research is a way of gaining knowledge by mean of direct observation or experience,
Empirical evidence (the record of one’s direct observations or experiences) can be analyzed
quantitatively or qualitatively.

Methods of Research Methodology
These are two types of Research Methodology

• Qualitative Method Qualitative research helps to gain insight into people’s behaviors, value systems,
motivations, culture or lifestyles, and how these attributes have a role to play in decision and policy
making, communicating, and conducting research.
Approaches of Qualitative Research
Direct Observation: In direct observation method, there is no participatory involvement on the

observer’s part. The observer is more a part of the background and is as unobtrusive as possible. As
there is no direct participation, the observations are more detached. The researcher is watching and
making notes for future use.
Interviews: Interviewing involves direct interaction between the researcher and a respondent or
group. There are two types of interviews; structured and unstructured. Structured interviews are
carefully worded questionnaires and don’t allow much scope to deviate from it. Unstructured
interviewing is more informal, as compared to the former. It allows more exploration and deviation
in its approach, which is useful for exploring a subject more broadly.
Participant Observation: This method for qualitative research is highly dependent on the
researcher’s ability to blend and extract information by being part of an inventor group. This method
requires the researcher to become an active participant, while observing. It aims to gain a close
insight of individuals or social groups and their practices through an intensive participation with
them, in their natural environment, and often requires months or years to collect the required data
for analysis.
• Quantitative Method
In the social sciences, quantitative research refers to the systematic empirical investigation of quantitative
properties and phenomena and their relationships. The objective of quantitative research is to develop and
employ mathematical models, theories and/ or hypotheses pertaining to phenomena. The process of

measurement is central to quantitative research because it provides the fundamental connection between
empirical observation and mathematical expression of quantitative relationships.
Quantitative research is generally made using scientific methods, which can include:
1. The generation of models, theories and hypotheses.

2. The development of instrument and methods for measurement.
3. Experimental control and manipulation of variables.
4. Collection of empirical data.
5. Modelling and analysis of data.
6. Evaluation of results.
Information about Research in “HIMALAYA DRUG COMPANY”:
Research Type: Empirical Research

Research Method: Qualitative Method
Research Design: Convenience Sampling
Data Collection: Secondary Data
Sample Size: 100
Sample City: Mumbai

OBJECTIVE OF STUDY
1) To study the various product range & forms of Himalaya Drug Company.
2) To study the market potential of other similar products of competitors.
3) To study the customer buying motives towards Himalaya.
4) To study the market share of Himalaya.
HYPOTHESIS
A hypothesis is a proposed explanation or prediction about a phenomenon or relationship between

variables, based on observations, previous knowledge, or theoretical reasoning. In scientific research,
hypotheses are formulated as tentative statements that can be tested through empirical investigation or
experimentation.
A hypothesis typically consists of two parts:
1. The independent variable: This is the variable that is manipulated or changed by the researcher. It is
the factor that the researcher believes will have an effect on another variable.
2. The dependent variable: This is the variable that is observed and measured to determine the effect of
the independent variable. It is the outcome or response that is believed to be influenced by the
independent variable.
For example, if a researcher is investigating the effect of caffeine on memory retention, the hypothesis
might be stated as follows:
"Hypothesis: Consuming caffeine (independent variable) will improve memory retention (dependent
variable) compared to not consuming caffeine."
Once a hypothesis is formulated, the researcher designs experiments or collects data to test whether the
hypothesis is supported or refuted by the evidence. The outcome of these tests helps to validate or refine
the hypothesis and contributes to the advancement of scientific knowledge.
In line with the problem of this study has following hypothesis.
1. H11: Customers prefer more to buy Himalaya products compared by their other substitutes because of
their sincere approach towards customers.
2. H12: Himalaya has a market share of around 19%, ahead of other brands.

IMPORTANCEOF MARKET POTENTIAL AND CUSTOMER BUYING
MOTIVES
Understanding the buying motive of a customer is essential for a company as it helps the
company to target the customer better. Buying motive means that the customer requires a particular
product to fulfill a certain need. No matter how good a product is or how good the marketing is, unless
the customer has a need it would not matter. This makes buying motive extremely important in business.
Motive and instincts are completely different keywords. Motives are voluntary made such that a
particular stimulus will take place whereas instincts are involuntary and generally inborn quality of a
person. Ex: Thirst is an instinct but aspire to buy a bottle of mineral water to quench thirst is a motive.
DEFINITION OF MARKET POTENTIAL AND CUSTOMER BUYING MOTIVES
Buying motive is the motive to persuade the desires of people so that they buy a particular good or service.
Buying motive relates to the feelings and emotions of people which generates a desire to purchase. Any
person does not buy a product or service just because of excellent salesman pitch but he does also due to
the desire generated within him towards the product or service

NEED OFMARKET POTENTIAL AND CUSTOMER BUYING MOTIVES
Data for market potential: Market potential is nothing but to collect, classify, study the
company sales data. Collection of data is not part of analytical part, but it vitally affects the quality of the
sales analysis. Market potential is generally based on data already in existence. It is called secondary
data. Secondary data may be gathered either from internal sources such as invoice or shipping records or
from external sources such as marketing research agencies, government agencies, trade association and
trade journals. Secondary data are often readily available, but their use should be with caution. The sales
management must rearrange them according to their needs.
Some companies maintain their internal sales records in some detailed manner showing
individuals sales, sales by products, by classes of customers, by size of order and other pertinent break
downs of sales data. Data are sometimes especially collected for the purpose of finding the market
potential. This may be called primary data and may be collected under the control of sales management
according to its needs.
The main purpose of market potential is to convert raw sales data into actionable
information for sales manager. The process involving editing, tabulating and cross tabulating and also
breaking them down into various way to make them comparable. A number of comparisons are possible
such as:
1. Current data can be compared with the past result measuring trend over the years.
2. Current results of different territories, product or class of customers can be compared with each
other.
3. Internal performance data can be used for compared with each other. Different ratio and
percentages or variances can be used for comparison purposes. The final step in the analysis
process is interpretation or drawing conclusion from the compiled data.
When the sales planning is done, the sales manager finds out the potential market. Sales manager collects
the information and analyses it and then compare the actual one with standards. An evaluation program
review both the nature and extend of sales force efforts and influence of external variables, once the
degree of influence of controllable and uncontrollable factors are determined. Sales management can
decide whether to corrective action or to revise the sales plan or both.
DATA ANALYSIS AND INTERPRETATION
Q.1. Do you know about Himalaya drugs company:
Options No. of Respondents Percerntage
Yes 98 98%
No 2 2%

Interpretation:
We can see that Himalaya wellness is well heard of the only problem is Himalaya is
not in the top of the mind awareness spectrum and rather in the spontaneous of the
mind awareness. Further studies will clarify that.
Q.2. Since how long you are using Himalaya drugs company products:
Options No. of Percenta

Respondents ge
Last 1 year 10 12.5%
Last 1 year to 5 years 24 30%
Last 5 years to 10 years 20 25%
For more than 10 years 26 32.5%

Interpretation:
Out of the 100 respondents who took the survey, only 80 used Himalaya Wellness
Company products, with an almost equal share between the 1-5 years users and 5-10 years
users, indicating that their expectations are met by then product quite well.

Q.3. What company you prefer for drug products:
Options No. of Respondents Percentage

Himalaya 44 55%
Charak 6 7.5%
Dabur 20 25%
Tasly 5 12.5%
Interpretation:
From the above study we conclude that maximum market share of Himalaya is 55% whereas
minimum market share is Charak.

Q.4. Which are the four factors that influence consumer buyer
behavior according to you:
Options No. of Percenta

Respondents ge
psychological, personal, social, CRM systems 20 40%
cultural, organizational, personal, 16 32%
psychological
cultural, social, personal, 14 28%
psychological
none of the above 0 0%
Interpretation:
According to 40% respondent are prefer psychological, personal, social, CRM

systems are the four factors that influence consumer buyer behavior according to
them, 16% respondent are prefer for cultural, organizational, personal, psychological,

28% respondent are prefer for cultural, social, personal, psychological, 0%
respondent are prefer none of the above.

Q.5. The consumers' five steps of adopting a new product refer to which of the
following, according to you?
Optio No. of Percenta

ns Respondents ge
Awareness, interest, evaluation, trial, adoption 30 30%
Awareness, promotion, evaluation, trial, adoption 15 15%
Adoption, interest, evaluation, trial promotion 25 25%
Awareness, interest, cash cows, trial, adoption 30 30%
Interpretation:
According to 24% respondent are prefer for Awareness, interest, evaluation, trial,
adoption are the five steps of adopting a new product, 12% respondent are prefer for
cultural, organizational, personal, psychological, 20% respondent are prefer for
cultural, social, personal, psychological, 24% respondent are prefer none of the
above.

Q.6. Which of the following is an important cultural factor that should be
considered by marketers seeking international development?
Competitive synergy. 38 38%
Language. 12 12%
Natural resources. 10 10%
Technological sensitivity. 40 40%
Interpretation:
According to them 38% respondent are prefer for Competitive synergy, 12%
respondent are preferring for Language, 10% respondent are preferring for Natural
resources, 40% respondent are prefer for Technological sensitivity, is an important
cultural factor that should be considered by marketers seeking international
development.
Q.7. Which of the following also includes a situation-specific component?
personality 24 24%
self-concept 16 16%
involvement 28 28%
demographics 32 32%
Interpretation:
According to them 24% respondent are agree for Personality, 16% respondent are
preferring for Self-Concept, 10% respondent are preferring for Involvement, 28%
respondent are preferring for Demographics, also includes a situation-specific

Component.

Q.8 Which of the following is a situation in which consumer behavior occurs?

Communications
situation 20 20%
Purchase 36 36%
situation
Usage situation 8 8%
All of the above 36 36%
Interpretation:
According to them 20% respondent are agree for Communication Situation, 36%
respondent are preferring for Purchase Situation, 8% respondent are preferring for
Sage Situation, 36% respondent are preferring for All of above is a situation in which
Consumer Behavior Occurs.
Q.9. Which of the following is NOT a situation in which consumer behavior occurs?

Communications situation 16 16%
Purchase situation 8 8%
Usage situation 52 52%
All of the above are situations in which

consumer behavior occurs 4%
4
Interpretation:
According to them 16% respondent are agree for Communication Situation, 8% respondent are
preferring for Purchase Situation, 52% respondent are preferring for Usage Situation, 4%

respondent are preferring for All of above are situation in which Consumer Behavior Occurs, is
NOT a situation in which consumer behavior occurs.

Q.10. Understanding of consumer needs and then develops a marketing mix to
satisfy these needs.
The marketing concepts 42 42%
The strategic plan 36 36%
The product influences 8 8%
The price influences 14 14%
Interpretation:
According to them 42% respondent are agree for The marketing concept, 36%
respondent are preferring for the strategic plan, 8% respondent are preferring for the
product influences, 14% respondent are preferring for the price influences are the
Understanding of consumer needs and then develops a marketing mix to satisfy these
needs.
Q.11. Which are the factors that have been shown to affect consumer behavior.

Brand name, quality, newness, and
complexity 32 32%
Advertising, marketing, product, and 20 20%

price
Outlets, strategies, concept, and brand
name 26 26%
Quality, advertising, product positioning,
and strategy 22 22%
Interpretation:
According to them 32% respondent are agree for Brand name, quality, newness, and
complexity, 20% respondent are agree for Advertising, marketing, product, and price,
26% respondent are agree for Outlets, strategies, concept, and brand name and 22%
respondent are agree for Quality, advertising, product positioning, and strategy are
the factors that have been shown to affect consumer behavior.
Q.12. What is the reason that higher prices may not affect consumer buying?

Most consumers prefer brand names
which have higher prices 38 38%
70% of the total population looks
for quality services and is willing to
pay
16 16%
higher prices
Consumers believe that higher prices
indicate higher quality or prestige 16 16%
Most consumers feel that the price is
affordable 30 30%
Interpretation:
According to them 38% respondent are agree for most consumers prefer brand names
which have higher prices, 16% respondent are agree for 70% of the total population
looks for quality services and is willing to pay higher prices, 16% respondent are
agree for Consumers believe that higher prices indicate higher quality or prestige and
30% respondent are agree for Most consumers feel that the price is actually
affordable.

Q.13. In terms of consumption decisions, middle class consumers prefer to _

Buy at a market that sells at a whole
sale rates 15 30%
Buy what is popular 17 34%
Buy only the brands which sell at
affordable prices 9 18%
Analyze the market and select the
best at the lowest prices 9 18%
Interpretation:
According to them 30% respondent prefer to buy at a market that sells at a whole sale
rates, 34% respondent are prefer to buy what is popular, 18% respondent are prefer
to buy only the brands which sell at affordable prices and 18% respondent are prefer
to analyze the market and select the best at the lowest prices in terms of consumption

decisions, middle class consumers.

FINDINGS OF THE STUDY
This is an important aspect of marketing since one has to do market

research related to their industry product which can be business to consumer or
business to business. Market potential is basically carried out to know the strength in
the industry also to allocate the target to the sales force based on optimum market
research which normally includes the customer requirement, there expansion plans,
investment etc. With optimum information sales manager knows the amount of
investment a company is going to make for the coming years. Based on this authentic
information a company can take steps.
Before going for market potential analysis, you need to initially know
on which products you are carrying out market potential and then go for it. Market
potential is carried out by visiting to your customer or consumer site asking them
questions about your products.
Most important thing to note is market potential is very essential for the
company, so it should be carried out seriously and effectively. Now biggest question
arises that what you will be asking. You know market potential basically gives
company position in the market by finding how many players are there in the Anti-
Asthmatic Pharma Drugs market and finding who all are their customers. Now to
know about company's future position you need to ask what your future plans are,
investment, expansion plans, and accordingly you need to arrange data and handed
over to marketing department they will be deciding about allocating the targets to
sales force.

CONCLUSIONS
1) Customers get value for their money when they purchase a product or on
service rendered.
2) The Himalaya Drug Company is eyeing the organic segment for personal care
products in India with its Botanique brand, a readymade body care range
catering to international markets.
3) Customer are satisfied with the brand, availability and price of the Himalaya
products. Its reputation is for clinically studied, pure, and safe herbal
healthcare products that are based on extensive scientific validation and
straighten quality controls.
4) Last year, the segment contributed around 40% to turnover. Himalaya has a
market share of around 19%, ahead of brands such as Garnier, Clean & Clear
and Ponds.
Conclusion of Hypothesis
5) We accept the first hypothesis; customer prefer Himalaya products more

because of their trust over the company.
6) We accept the second hypothesis; from the survey it is concluded that market
share of Himalaya is more than its competitors.

SUGGESSTIONS
Himalaya Wellness Company must ensure that all customers are satisfied,
the service provider should avoid biasness, prejudice or discrimination against some
customers. Developing a genuine desire and passion to serve others with skills and
knowledge to serve their customers excellently. The business should engage in
collection of customers opinion on services they render. The personnel dealing
directly with the customers improves their satisfaction, training and seminar should
be conducted so that the best quality of service is delivered.
High quality of services leads to customer satisfaction. The immediate response to
customers complains increases emotional satisfaction as assurance that problems are
solved on time which helps them retain their customers which increases loyalty.
Customers express brand association through behavior. Brand associations are
represented as emotional impression in the memory such that customers are
emotionally satisfied by services received which gives no room considering an
alternative.
Supp Hellen suggests emotional brand association increases brand loyalty by

becoming the dominating determinant of choices. Retaining customers is cheaper
compared to attracting new ones. A business usually puts emphasis on the relationship
between the consumers perceptions about the quality of the service they receive.
Information of data from consumers promotes the improvement of services which in
turn increase brand loyalty.

CHAPTER-7
BIBLIOGRAPHY AND ANNEXURE
BOOKS:
1. Digital Marketing for Dummies by Ryan Deiss and Russ Hennesberry,

2017
2. For recommended SEO books, see my Best SEO Books post.
3. Don’t Make Me Think Revisited: A Common Sense Approach to Web
Usability by Steve Krug
4. Google Adwords for Beginners: A Do-It-Yourself Guide to PPC
Advertising
5. Introduction to Programmatic Advertising by Dominik Kosorin, 2016
6. Blogging: A Practical Guide to Plan Your Blog: Start Your Profitable Home-
Based Business with a Successful Blog by Jo and Dale Reardon, 2015
WEBSITE:
1. https://himalayausa.com/
2. https://himalayawellness.in/pages/our-story
3. http://www.himalayawellness.com/
4. https://in.linkedin.com/company/the-himalaya-drug-company

QUESTIONNAIRE
PROFILING FORM
Name:
Age:
Qualification:
Q.1) Do you know about Himalaya drugs

company: a) Yes
b) No
Q.2) Since how long you are using Himalaya drugs company
products: a) Last 1 year
b) Last 1 year to 5 years.
c) Last 5 year to 10 years.
d) For more than 10 years.
Q.3) What company you prefer for drug products.
a) Himalaya
b) Charak
c) Dabur
d) Tasly

Q.4) Which are the four factors that influence consumer buyer behavior
according to you:
a) psychological, personal, social, CRM systems

b) cultural, organizational, personal, psychological
c) cultural, social, personal, psychological
d) none of the above
Q.5) The consumers' five steps of adopting a new product refer to which of the
following?
a) Awareness, interest, evaluation, trial, adoption

b) Awareness, promotion, evaluation, trial, adoption
d) Awareness, interest, cash cows, trial, adoption
Q.6) Which of the following is an important cultural factor that should be

considered by marketers seeking international development?
a) Competitive synergy.
b) Language.
c) Natural resources.
d) Technological sensitivity.
Q.7) Which of the following also includes a situation-specific component?
a) personality
b) self-concept
c) involvement
d) demographics

Q. 8) Which of the following is a situation in which consumer behavior occurs?
• communications situation
• purchase situation
• usage situation
• All the above
Q.9) Which of the following is NOT a situation in which consumer behavior occurs?
a) communications situation
b) purchase situation
c) usage situation
d) all the above are situations in which consumer behavior occurs
Q.10) Understanding of consumer needs and then develops a marketing

mix to satisfy these needs.
a) The marketing concepts

b) The strategic plan
c) The product influences
d) The price influences

Q.11Whichare the factors that have been shown to affect consumer behavior.
a) Brand name, quality, newness, and complexity

b) Advertising, marketing, product, and price
c) Outlets, strategies, concept, and brand name
d) Quality, advertising, product positioning, and strategy
Q.12What are the reason that higher prices may not affect consumer buying?
a) Most consumers prefer brand names which have higher prices

b) 70% of the total population looks for quality services and is willing to
pay higher prices
c) Consumers believe that higher prices indicate higher quality or prestige
d) Most consumers feel that the price is affordable
Q.13.In terms of consumption decisions, middle class consumers prefer to _
a) Buy at a market that sells at a wholesale rate

b) Buy what is popular
c) Buy only the brands which sell at affordable prices
d) Analyze the market and select the best at the lowest prices


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MARKETING SPECIALISATION PROJECT ON

“UNDERSTANDING MARKET POTENTIAL AND CUSTOMER PURCHASE DRIVERS OF

SUBMITTED IN PARTIAL FULFILLMENT FOR THE AWARD OF THE DEGREE OF

MASTER OF MANAGEMENT STUDIES (MMS)

(UNDER UNIVERSITY OF MUMBAI)

Mr. Sahil Singh Panwar

ROLL NO: 127

UNDER THE GUIDANCE OF

Dr. Sana Khan

Assistant Professor (Marketing)

MET’s INSTITUTE OF MANAGEMENT

BHUJBAL KNOWLEDGE CITY,

MR. SAHIL SINGH PANWAR 1 of 62

Marketing Specialization Project on

MET INSTITUTE OF MANAGEMENT

Dr. Sana Khan

MET Institute of Management, Mumbai, India

MR. SAHIL SINGH PANWAR

ROLL NO: 127

MMS BATCH: 2022-24

MR. SAHIL SINGH PANWAR 2 of 62

Guide: Dr. Sana Khan Director: Dr. Swati Lodha

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Name: Sahil Singh Panwar (Signature of student)

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Name of Student: Sahil Singh Panwar (Signature of student)

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Sr. No. Contents Page

VIII Executive Summary 7

X Company Profile - Background and information 10

XII Research design and Objectives of the Project 23

XIII Importance of market potential and customer buying motives 28

XIV Data analysis and interpretation 30

XV Findings, Suggestions and Conclusion 46

XIV Bibliography and Annexure 49

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PRODUCT & SERVICES

Himalaya’s products can be broadly classified into 3 main ranges viz.

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1. Large Working Capital Requirement - The business necessitates a significant amount of

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Market Segmentation of Himalaya

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Clean & Clear

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Himalaya Face Wash Digital Marketing Presence

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