Financial Institution Operation in Nepal
CHAPTER 1 INTRODUCTION
INTRODUCTION Ayurveda, the science of life and longevity has a history as long as human civilization and even beyond. Ayurveda, the consider nature as the prime provider of life. Ayurveda is one of the greatest gifts of the sages of ancient India to humankind and accepted as the oldest scientific medical system with a long record of clinical experience. Ayurveda aims at the physical, mental and spiritual well being of human beings. Ayurveda treats man as a whole, which is a combination of body, mind and soul. Ayurveda is the oldest surviving complete medical system in the world. Derived from its ancient Sanskrit roots - ‘ayus ' (life) and ‘Veda ' (knowledge) – and offering a rich, comprehensive outlook to a healthy life, It was expounded and practiced by the same spiritual Rishis, who laid the foundations of the Vedic civilization in India, by organizing the fundamentals of life into proper Ayurvedic is the knowledge or wisdom (Veda) of life (ayur).It is quite simply, the oldest system of healing Ayurveda is the knowledge or wisdom (Veda) of life (ayur).It is quite simply, the oldest system of healing known to humankind. The ancient art of Ayurveda is part of the wisdom and lore of India, Originated around 5000 years ago from India, it has broadened its essence across the globe and occupied a key position in the fitness care system. Today, it 's a sole, indispensable branch of medicine an absolute naturalistic system that depends on the diagnosis of a body 's three fine energies-vata, pitta and kapha-to achieve the right balance .These three Doshas are called the tridoshas. A balance among these life forces is essential for proper health. Any imbalance among the tridoshas causes a state of unhealthiness or disease.
Ayurveda has its own views about values and philosophy of life. Ayurvedic system describes man as a universe within himself, which is a child of the cosmic forces. His existence is inextricably tangled to the total cosmic manifestation. Other indispensable concepts of Ayurvedic System are the SapthaDhathus (the bodily tissues), Srotas (channels), amla (toxins and filthy matter) and the trinity of life -body, mind and spiritual consciousness. The first step in the method of diagnosis in Ayurvedic form of medicine is to determine the constitution of the person. That t means it is the patient who is diagnosed first and not the disease. Ayurvedic was looked, upon with contempt, during the 500 years of foreign domination in India. But the spirit of this life science survived. Today Ayurveda has got attention of all people throughout the world. Kottackal Aryavaidyasala Sala and its founder Vaidyanathan P.S. Varier, called the pioneer of Ayurveda in the south. He is the first man in the south India to organize the treatment of patients under the Ayurvedic system. He pioneered the production of Ayurvedic medicines on modern times and ensured that Ayurveda occupied the right place among the country’s major medical system. Ayurveda is promoted as a complete alternative system of medicine in the world as it is the only one, which is well documented and coded and has the potential for further development. India has a substantial share of the market by promoting Ayurveda as a system of medicine rather than a food supplement alone. The center has already introduced good manufacturing practice (GMP) for drugs manufacturing. The ever increasing demand for drugs, especially over the counter products has compelled the centers to keep a vigil on the quality of these drugs and observes good laboratory practice.
Exports of Ayurvedic medicines have reached a value of 100 million dollars a year (about 10 % the value of the entire Ayurvedic industry in India). About 60% of this crude herbs ( to be manufactured into products outside India) and about 30 % is finished product shipped abroad for direct sales to consumers, and the remaining 10 % is partially prepared products to be finished in the foreign in the foreign countries.
INDUSTRY PROFILE Ayurvedic is one of the oldest scientific medical systems in the world, with a long record of clinical experience. It explains us both how to cure deceases and how to promote longitivity. Ayurvedic treats man as a ‘whole’-which is a combination of body, mind and soul. Therefore it is a holistic and integrated medical system.
‘Ayurvedic’-the name is derived from two Sanskrit words i.e., Ayu which means life and Veda which means knowledge or learning. . According to the ancient Ayurvedic scholar Charka, "Ayu" is comprised of four essential parts, the combination of mind, body, senses and the soul. Hence Ayurvedic indicates the science by which life in its totality is understood. It is a way of life that describes the diet, medicine and behavior that are beneficial or harmful for life. The knowledge of Ayurvedic is primarily drawn from the traditional Ayurvedic books (or samhitas).They are charka samhita (compiled around 1500 BC.), Susrutha samhita, and Ashtanga hridaya. (Approximately 500 AD).these three classic texts describe the basic principles and theories from which the Ayurvedic is evolved.
Ayurvedic has been a lively system of health which is practiced more than 300 years. Although it is practiced in India for centuries but its growth as an industry has commenced only a few years back. This was mainly on account of lack of awareness and initiative by its practitioners, industry and government. . In recent past, the tradition of preparation of medicines by the Ayurvedic practitioner has almost come to an end. Now we find a much organized and commercial production of Ayurvedic medicines in big factories. Ayurvedic and its products are becoming popular with increasing demand the world over.
Ayurvedic have some psychological benefits also. Ayurvedic is the first such medical systems who recognizes that all diseases are but the direct manifestation of one`s mental conditions. It says human mind consists three states or trigunas—sattva, rajas and tamas. Any disturbances in the equilibrium of the tri-gunas manifest in physical illness according to the intensity or nature of the disturbances. In fact, the condition of body and mind are integral to the overall health of an individual.
When the mind is stressed the stress hormone cortisone is released by adrenal glands. The level of hormone released affects the total volume of the brain`s hippocampus, which regulates our memory. Stress also affects all our decision-making activities in every field of life. Ayurvedic stresses on four principles—regulation in ahara (food habit), vihara (activities), nidra (sleeping habit), and maithuna (sexual habit), to maintain the balance and equanimity of the mind. Especially its guidelines for an intelligently regulated diet and daily routine are, now, accepted techniques for stress management.
Ayurvedic massages, inhalation of herbal (Aromatherapy) preparations, panchakarma (nasya) besides the much-tested yogasanas and meditation leave a calming effect on the nerves.
Evidences show that Ayurvedic had nurtured almost all the medical systems of the world. The Egyptians learnt about Ayurvedic long before the invasion of Alexander in the 4th century BC through their sea-trade with India. Greeks and Romans come to know about it after the famous invasion. The Unani form of medical tradition came out of this interaction. In the early part of the first millennium Ayurvedic spread to the East through Buddhism and greatly influenced the Tibetan and Chinese system of medicine and herbology. Around 323 BC, Nagarjuna, the great monastic of Mahayana Buddhism and an authority on Ayurvedic had written a review on Susrutha Samhita. In 800 AD Ayurvedic was translated into Arabic. The two Islamic physicians Avicenna and Razi Serapion, who helped form the European tradition of medicine, strictly followed Ayurvedic.
In the postmodern age, the popularity of this vibrant tradition of Ayurvedic lies in its, subtle yet scientific, approach to heal a person in its totality. It aims, not only at healing the body, but also the mind and spirit, at one go. Its unique understanding of the similarities of natural law and the working of human body, as well as its holistic treatment methods, help it to strike a balance between the two. This gives Ayurvedic an edge over other healing systems. That may be the reason behind Ayurvedic being the longest unbroken medical tradition in the world, today.
Total global herbal market is of a size of 90 billion dollars. European Union is the biggest market with the share 45% of the total herbal market. North America accounts for 11%, Japan 16% ASEAN countries 19% and rest European countries 4.1%.Countries like Japan and china have successfully marketed their traditional medicines abroad. Their alternative medicines are well accepted in Europe and US. Product like ‘Ginseng’-the framed aphrodisiac from china is having the same property as of Ashwagandha, an Ayurvedic medicine, yet it accounts for over US$ 800M of international market as compared to all our herbs put together.
But there are positive signals also for India in the global market; India has 16 Agro-climatic zones, 15 biotic provinces 45000 different plant species and 15000 medical plants that include 7000 Ayurvedic 700 in Unani medicine, 600 in sidha medicine and 30 in modern medicine. This makes India one among 12 mega bio-diverse countries in the world, which despite having only 2.5% total land area, accounting for over 8% of the record species of the world. The forecast is that the global market for the herbal products is expected to be $5 Trillion by 2050.Herbal remedies would become increasingly important especially in developing countries. India, with its bio diversity has a tremendous potential and advantage in this emerging area.
Figure 2.1 Global markets for herbal products
Ayurvedic Medicine Industry in India There are number of companies producing Ayurvedic medicine 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. Ayurvedic manufacturing units can be broadly classified into organized and unorganized sectors. The organized sectors consist of both large and small manufacturing units. The large manufacturing units comprise the well established manufactures that operate in both domestic and international markets. They are the flag bearers of industry and mainly responsible for the revival and growth of Ayurvedic. The Organized sector include companies such as Dabour India Ltd, Himalaya drug company ltd, Vaidyanathan Ayurvedic Bhavan Ltd, Zandu Pharmaceuticals Ltd,Charak pharmaceutical Ltd etc.Many more companies have diversified into Ayurvedic. These include Ayurvedic companies such as Cadila health care Ltd, Albert David Ltd, Cipla Ltd. Small manufacturing units manufacture a few medicines and operate in small area. Such units are quite strong in their area of operation. There are certain small manufacturing units who cater to export market only.
The key suppliers in Ayurvedic products are Dabur, Vaidyanathan, 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; a brief description is provided for them, arranged here from oldest to newest:
Dabur India Ltd is India 's largest Ayurvedic medicine supplier and the fourth largest producer of FMCG. It was established in 1884, and had grown to a business level in 2003 of about 650 million dollars per year, though only a fraction of that is involved with Ayurvedic medicine. Dabur 's Ayurvedic Specialties Division has over 260 medicines for treating a range of ailments and body conditions-from common cold to chronic paralysis. These materials constitute only 7% of Dabur 's total revenue. Dabur Chyawanprash (herbal honey) has a market share of 70% and chewable Hajmola Digestive Tablets has an 88% share. Other major products are Dabur Amla Hair Oil, Vatika (Shampoo), and Lal Dant Manjan (Tooth Powder). Zandu pharmaceutical works. Was incorporated in Bombay in 1919, named after an 18th-century Ayurvedic. The company focuses primarily on Ayurvedic products (in 1930, pharmaceuticals were added, but the pharmaceutical division was separated off about 30 years later). However, today Zandu has a chemicals division and cosmetics division. Its total sales volume is about 45 million dollars.
The Himalaya Drug Company-was established in 1934 in Bangalore. It currently has a business level of about 500 million dollars and has a U.S. distribution division (Himalaya USA). It is known in the U.S. for the product Liv-52, marketed as a liver protector and therapy for liver diseases like viral hepatitis; the product was first marketed in India in 1955.
Sri Vaidyanathan Ayurvedic Bhavan Ltd. (Vaidyanathan for short) was founded in 1917 in Calcutta, and specializes in Ayurvedic medicines, though it has recently expanded into the FMCG sector with cosmetic and hair care products.
Vaidyanathan has a sales volume of about 350 million dollars, but most of the product sales are in the cosmetic range. The company is having over 700 Ayurvedic products, made at 10 manufacturing centers, with 1,600 employees.
Vicco Laboratories was established in 1958. It mainly produces topical therapies based on Ayurvedic and is best known internationally for its toothpaste product, Vajradanti, which has been marketed in the U.S. for more than 25 years.
The Emami Group, founded in 1974, provides a diverse range of products, doing 110 million dollars of business annually, though only a portion is involved with Ayurvedic products, through its Himani line; the company is mainly involved with toiletries and cosmetics, but also provides Chyawanprash and other health products.
Ayurvedic Medicine Industry in Kerala Kerala have a rich tradition of Ayurvedic. The knowledge of Sanskrit enables the healers of Kerala to interpret the Ayurvedic system accurately and get a proper insight. Kerala has been able to preserve authentic Ayurvedic as well as make some impressive contributions of its own. During this period, Ayurvedic is dominated by eight families who considered it as their family profession. They are called Ashtavaidyas (Eight physicians) and where well-versed in vagbhata’s Ashtangahridaya. Each of them specialised in one of the eight branches of Ayurvedic and helped in keeping the traditional art of healing alive and dynamic.
The major credit for reviewing and spreading this message in the 20th century goes to the Kottackal Aryavaidyasala and its founder Vaidyanathan P.S Varrier called the pioneer of Ayurvedic in South India. He is the first man in South India to organize the treatment of patients under the Ayurvedic system.
He pioneered the production of Ayurvedic medicines on modern times and ensured that Ayurvedic occupied the right place among the country’s major medical system. The Ayurvedic vidyas also gave their contribution to the development and improvement of the health care system, and many of them prepared some formulations themselves regionally according to the provisions of Ayurvedic texts like Ashtangahridaya, Charaka samhitha etc.
Exports of Ayurvedic medicines have reached about 110 million dollars a year and it is about the 10% of the value of entire Ayurvedic industry in India. For promoting Ayurvedic as a system, there should be adequate infrastructure, R&D aimed at ensuring quality control, new product development, basic research and product standardization.
Ayurvedic Treatment in Kerala
The ancient Ayurvedic system has eight branches. They are;
Kayachikitsa (General medicine), Shalyatantra (surgery), ShalakyaTantra (ENT and Ophthalmology), Graha (Psychotherapy), Damshitra (toxicology), Kumara bhritya (Paediatrics and Gynaecology), Rasayana (rejuvenation) and Vajikarana (Aphrodisiacs). Kerala Ayurvedic Treatment is unique and some treatment is done only by some specialised practitioners or Ayurvedic hospitals in Kerala. Example, Reduction therapy. Reduction therapy has two parts called pacification and purification. Pacification is done with herbs, fasting, exercise, sunbathing and exposure to wind. Purification is a special form of therapy for elimination of the disease causing humours. Ayurvedic elimination therapy is its system for guiding the toxins to their sites for elimination. It consists of five parts - The pancha karmas - cleaning enemas, nasal medication, Purgation, Emesis and bloodletting. All these require preliminary Ayurvedic practises of oleation and sweating.
Kerala has developed its own Ayurvedic treatment modalities like Dhara, pizhichil, Navarakizhi, Elakizhi, Sirovasthi, Thalapothichil etc. which are highly effective in a number of diseases which include Motor neuron diseases, Arthritis of various kinds, skin diseases, heart diseases, peptic ulcer, Asthma, Peripheral vascular diseases etc. One of the many available Ayurvedic therapies in Kerala is massaging. Massaging is offered here as a method of rejuvenation as well as a treatment. It gives relief from pains and aches, increasing blood circulation, enhancing immunity, rejuvenates the body and relaxes the mind. Another Ayurvedic remedy is Marma chikilsa, a treatment similar to the Chinese acupuncture, is an advanced form of massage and is widely utilised by Kalaripayattu (Kerala’s material art) exports for improving flexibility.
The Ayurvedic Acharyas (vaidyas) in Kerala are also proficient in Vishagara-vairodh Tantra or Toxicology .Medicines like gorochandanadi used in the cure of fever, epilepsy, treatment of small pox and other infectious deceases.
Today Ayurvedic is one of the emerging sectors in Kerala, which is growing rapidly because of the growth in tourism sector. The number of tourists visiting Kerala is increasing year over year. In order to take the advantage of it many Ayurvedic groups started Ayurvedic hospitals and Resorts. The Kerala government and some social organizations are also conducting awareness programs for the promotion of Ayurvedic.
CHAPTER 2
RESERCH DESIGN
RESEARCH DESIGN 2.1 STATEMENT OF THE PROBLEM Nagarjuna Herbal Products Limited is one of the major producers of Ayurvedic products in Kerala. Nagarjuna Herbal Products Limited has a wide marketing network through its own customer throughout Kerala. Nagarjuna Herbal products limited is facing competition from similar industries, which are manufacturing and marketing Ayurvedic products; this success of retail sales of Nagarjuna Herbal products Limited depends on the effectiveness of the customer Nagarjuna Herbal Products Limited is also interested to know whether their customers are satisfied or not. Hence the present study attempts to evaluate the level of satisfaction of the customer of Nagarjuna Herbal products Limited.
2.2 SCOPE OF THE STUDY
1. The Ayurvedic industry faces a stiff competition from the domestic companies. This study will analyze the various inherent strength of the company customer network and helps to strengthen further the companies’ attributes and improve the market share of the company
2. The study will help the company to know the main problems faced by the, customer their opinion about the quality of the product and the discount and the discount allowed by the company and thereby they can develop new strategies to make a good relationship with the customer 2.3 OBJECTIVES OF THE STUDY Main Objectives 1. To study the level of satisfaction of the customer of Nagarjuna Herbal products Ltd., 2. To study the opinion of the customer about the price, quality, packing of the products and the distribution system of Nagarjuna Herbal products Ltd. 3. To study the promotional activities of the company
4. To test whether there is significant relationship between various factors affecting customer satisfaction and the opinion of coustmers about coustmer satisfaction 5. To evaluate the service rendered by the company to the customer 2.4 RESEARCH METHODOLOGY Research methodology is a systematic way to solve the research problem.
Primary data Primary data are those data that have been observed or recorded by the researcher for the first time to their knowledge.
Collection of primary data Primary data are collected from the Nagarjuna Herbal Product Limited customer through interview schedule. An Interview schedule is a formal list of questions that will be discussed or asked by an interviewer with the respondents in person or direct who in turn records answers given by the respondents. The questions used by the researcher in the interview schedule are multiple choice questions and dichotomous questions The survey technique is intended to secure one or more items of information from a sample of respondents who are representatives of a large group. Secondary data Secondary data are those that have been collected by some other persons for his purpose or some other purpose and published. In this study the researcher used many sources of secondary data such as company journals, books, annual reports, Internet etc. Sampling In this study the researcher used simple random sampling method for sample selection. Sample area Customers of Nagarjuna Herbal Products Limited, in Kottayam and Idukki Districts of Kerala. Sample size Sample size is the number of samples, which selected for collecting information for the study. In this study the researcher conducted a survey among 75 Customer of Nagarjuna Herbal Products Limited in Kottayam and Idukki districts of Kerala State . 2.5 LIMITATIONS OF THE STUDY * The respondents of questionnaire may not give correct information * Accuracy of the data depends upon the information provided by the
-respondents.
* Time has been the major constraint while performing the market study. 2.6 CHAPTER SHCEME CHAPTER 1: Introduction to the study This chapter gives a brief introduction of the need and objectives of the study CHAPTER 2: Research Design This chapter deals the core concepts of design such as title of the study, objectives, scope of the study, statement of problem, limitations and methodology. CHAPTER 3: Profile of the organization This chapter gives a brief insight about THE NAGARJUNA HERBAL PRODUCTS CHAPTER 4: Analysis and interpretation This chapter gives details regarding the analysis and interpretation of the data collected. It comprises of the data collected and presented in the form of tables, graphs and charts and its interpretation.
CHAPTER 5: Findings and Recommendations This chapter concludes the project report. It comprises of the summary, findings and conclusions based on the data collected and the various recommendations and suggestions that can be made,
CHAPTER 3 COMPANY PROFILE
COMPANY PROFILE Over the years, Ayurveda, the ancient wisdom of healing from the Indian sub continent has been on the path of dynamic resurgence as a holistic health care system attracting worldwide wisdom. Established in the year 1989 “Nagarjuna Herbal Products Limited “has one basic mission that is restoration of Ayurveda to its original glory. It was specifically setup with the mission to contribute to this resurgence in a creative manner in Kerala and elsewhere. By pursuing this ‘path with single – minded devotion, the company hope to become the worthy inheritor of a priceless heritage. Even a casual glance at the record of accomplishment of the company would show that the company is well on its way to achieve its mission and going beyond. In this search for excellence, Nagarjuna has gone one step further. For the first time, it has brought together the Aryavaidyasala and Ashtavaidyas schools of thought to take advantage of the finer points of both. To sustain this delicate synthesis, Nagarjuna draws on the expertise of advisory committee consisting of renewed Ayurvedic physicians. Within a short span of 18 years, Nagarjuna has become the second largest Ayurvedic house in Kerala with a turnover of 21 crores, continuously making profit since 1991 and declaring dividends regularly for the last 17 years. The company’s loan and interest payments are so prompt that it has won the admiration of the financial institutions that support it. Nagarjuna Herbal Products Limited is also the first corporate house in the Ayurvedic sector in Kerala. It is also having the certification of ISO 9007-2000 and the GMP certification. The company provides employment of over 1200 persons directly and indirectly. Nagarjuna state of the art of manufacturing facilities are located at Alakkode, 6 km from Thodupuzha, in the Idukki district of Kerala State, where traditional values and strict adherence to ancient Ayurvedic texts as the law. This place has proximity to the Western Ghats, which has abandon resources of herbal plants. This production facility are also streamlined to incorporate modern technology to have benefits of its accuracy, hygiene and speed in mass production, supervised by experts in Ayurvedic wisdom as well as by knowledgeable engineers. The venture has active participation from the Kerala State Industrial Development Corporation, Kerala Financial Corporation and the Industrial Development Bank of India. Sri promotes the company. V.G. Devadas Namboodirippad, first entrepreneur with financial support from the financial institutions KSIDC and IDBI. An innovative Research and Development with a 70 lakhs Research Laboratory and a never vigilant quality control section ensures that the Nagarjuna products are of the best quality and true to the Ayurvedic stipulations. These products numbering from over 500 are distributed all over Kerala through a network of 10 lakhs customer which have the unique feature of having the service of Ayurvedic doctors to attend to the needs of the patient customers in the outlets. The company has not limited its operations to the boundaries of Kerala alone, but has extended to 17 states outside Kerala. The main areas of operations are Karnataka, Tamilnadu, Andhra Pradesh, Goa, Delhi, Maharastra, Gujarat, U.P, M.P, Rajasthan, Orissa, & Uttaranchal. Nearly 180 franchises with service of doctors and quality medicine are already operating in outside Kerala. Interest in the form of enquiries is clear evidence that company is intended to expand this franchisee network in the above said states and particularly the metropolitan cities in an ambition manner. Ayurvedic treatment is another area to which Nagarjuna has paid special attention. Ayurvedic is for rejuvenation for the healthy and curing of the sick. Nagarjuna Ayurvedic Centre at Thannipuzha, Kalady, Kerala has all facilities to serve the needs of both, which is set up on the banks of the river Periyar in scenario surroundings and the centre provides the entire range of Ayurvedic treatments exclusive to Kerala life, Pizhichil, Dhara ,Sirovasthi ,indicated for Rheumatism ,Arthritis ,Stiffness of joints, Spondylitis ,Fatigue, lack of vitality and so on. A sister concern of Nagarjuna Research is a charitable Institution, which is currently implementing an ambitious programme for promoting the cultivation of Ayurvedic plants and trees, as there cannot be Ayurveda without them. In the last few years, lakhs of medicinal plants have been planted under the aegis of the foundation. Basic Research into Ayurveda, publications of Ayurvedic literature and so on is some of its many projects. A New Thrust to Research & Development The R&D division at Nagarjuna has evolved stringent testing procedures for its drugs. An example is the fail safe system of multiple tests, which ensures a high level of quality, consistency and efficiency in all its formulation. A significant development recently is the establishment of a modern laboratory. This laboratory has an on-going programme of basic research in Ayurveda, besides development of new formulations and standardization of drugs. Nagarjuna has its own hospital facility in Thodupuzha, where an experienced team of physicians carries several highly modernized Ayurvedic treatments. Nagarjuna commitment to advance the cause of Ayurveda, doesn’t stop at the manufacturing and marketing drugs, but also covers a broad spectrum of activities in the true of Ayurveda. The major among them are: 1. Development of new medicines to prevent diseases inherent in changing life styles and compacts the evil effects of modern civilization. 2. Gross pollination of the different branches of Ayurveda and modernization of the versatile scenic. 3. Establishment and maintenance of botanical gardens of medical plants and herbs to eliminate the death of the drugs; 4. Identification, production and marketing of diseases related specified drugs through modern technology and methods and to make these essential drugs available freely for the alleviation of human suffering; 5. Comprehensive multifaceted development of Ayurveda in all its varied aspects and extensive propagation of its message; Presently, Ayurvedic has become progressively global, offering immense opportunities to Ayurvedic companies all over. So Nagarjuna is committed to exploit these opportunities as much as possible to its advantage. However in order to do this, the company has to upgrade its infrastructure, equipment, R&D and people to the internationally accepted standards including product registration abroad. Nagarjuna presence in exports now extend to Asian, European , South American and Middle East markets ; operations have already been started to countries such as Canada, Kuwait and other Gulf countries, West Indies, Singapore etc. The company’s marketing activities cover over 17 states other than Kerala. This indicates that company is on the right track and that the overall position of the company is very stable and positive and that it looks forward. Quality Policy * Committed to quality of the product * Restore Ayurveda as a mainstream health management system * Achieve a sustained organizational growth Quality Objectives * Focusing on process and customer * Developing and empowering people * Encouraging creativity, innovation and teamwork * Using effective information technology Mission * Restoration of Ayurveda to its original glory Vision * To be the best solution provider in health care through in Ayurveda. * Values * The company delivers solutions that will please its customers. * Delivers returns that motivate its investors * By understanding the deep and fundamental needs of its people, its customers, its investors and Eco system (Alliances, Community and Environment) * Take actions that strengthen the company and inspire the best in others (By setting an example in relationships, integrity, honesty, humility and hard work). 3.2 MARKETING Nagarjuna has emerged as one of the top-most leader of Ayurveda market in Kerala by means of its marketing strength. The core of the marketing network is a chain of exclusive franchisee clinics spread over the states of India namely Kerala, Tamilnadu, Karnataka, Andhra Pradesh, Maharastra, Gujarat, Goa and Delhi. Nagarjuna has a very good and wide marketing network, which includes over 850 franchised outlets in the state of Kerala and 180 franchisees outside the state. The unique features of these franchisee clinics is the availability of a doctor and the availability of Nagarjuna brand medicines at all times, Sales depots services these franchisees. There are 4 sales depots in the state of Kerala. The entire marketing operations are controlled from the Head office situated at Thodupuzha of Idukki district The marketing programs includes propagation to Ayurveda, which is facilitated through sales promotion programs, social marketing activities like medical camps, seminars, awareness camps etc. In Kerala, the marketing operations of Nagarjuna are mainly under divisions of Generic divisions, Ethical divisions and OTC divisions.
Generic Division: This division handles the marketing of classical preparations (traditional medicines) and about 75 % of turnover if the company is derived from this division. The generic division is under the control of a regional manager and 4 area managers who are supported by a team of 20 marketing executives.
Ethical division: This division handles marketing of ethical products There is a regional sales manager, who heads this ethical division and there are 4 sales managers and 21 marketing executives to support him. About 15% of turnover of the company comes from this division. OTC division: This division deals with the marketing of consumer products. These products are sold to Nagarjuna own agencies, other Ayurvedic agencies and consumer retail shops which result in nearly 10% of the company 's turnover. The administration of the marketing division is done through 4 offices located at Vadakara, Shornur, Muvattupuzha and Mavelikara. The medicines required for the market is transferred to these areas offices and are supplied are made to franchisee, and other outlets .There are 2 commercial officers in charge of the inventory management, debt management, finance management and other administrative aspects. There are also other office staffs that help them also logistic staffs who help them to make packing deliveries. Organization Structure of Nagarjuna Herbal Products Ltd
W
M.D
E.D
C.E
F.M
M.M
PR.M
PE.M
D.M
D.M
PR.D
PE.D
A.M
A.M
PR.A
PE.A
A.O
S.O
MO
A.A
A.C
S.OR
C.A
Abbreviations M.D - Managing Director E.D - Executive Director C.E - Chief Executive F.M - Finance Manager D.M - Deputy Manager A.M - Assistant Manager A.O - Accounts Officer A.A - Accounts Assistant A.C - Account Cashier M.M - Marketing Manager S.O - Sales Officer M.O - Marketing Officer S.OR - Sales Organizer C.A - Clerical Assistant PR.M - Production Manager PR.O - Production Officer PR.A - Production Assistant PE.M - Personnel Manager PE.O - Personnel Officer PE.A - Personnel Assistant 3.3 PRODUCT PROFILE Nagarjuna follows the oldest system of preparation of medicines as per the rules and regulations prescribed. But when hygiene, accuracy and speed matters it is up to the modern machineries. So presently the company’s manufacturing process has been mechanized to a large extent. These are controlled by a group of doctors and scientists. Apart from the preparation of traditional medicines, Nagarjuna has a wide range of patent medicines. The R&D division of Nagarjuna has evolved strength testing procedure for its drugs. A significant development in this field is the recently established modern laboratory set up costing Rs. 70 lakhs. The laboratory has an on-going program of basic research in Ayurveda, besides development of new formulation and standardization of drugs is also in this department Nagarjuna has 427 traditional medicines and 27 patent medicines... 1. TRADITIONAL MEDICINES: The important traditional medicines of Nagarjuna are: I. Arish tams ii. Asavams iii. Oils iv. Kuzhambus v. Ghrutham vi. Lehyams vii. Tablets viii. Avarthis ix. Choornams x. Kasha yams Xi. Kashaya Choornams I. Arishtams These are fermented types of medicines prepared adding honey, jiggery, sugar and the powder of some medicines including spices. These preparations will have an alcohol content of 6-10 %, which is generated due to the fermentation process. Self-fermented preparations using Kashayams are called Arishtams and using boiled and cooled water or juice of herbs is called Asavams. 1. Abayarishtam 2. Amrutharishtam 3. Asokarishtam 4. Balarishtam 5. Dasamoolarishtam 6. Dasmoolajeerakam II. Asavams
1. Aravindasavam 2. Bhringarajasam 3. Chandanasavam 4. Kanakasavam 5. Kumaryasavam 6. Lohasavam etc. III. Oils 1. Amruthaadithailam. 2. Arimedhasthailam. 3. Brahmeethailam 4. Balaaguloochuaadithailam. 5. Dhwaantharam thailam 6. Eladi Thailam These are medicated oils. Decoction juice, milk etc. is added to oils like sesame oil, coconut oil or caster oil and is heated with powdered raw drug, until the water content evaporates completely. In this process, the medicinal extracts of the raw drugs make the oil medicated. IV. Kuzhambu These are only for external application, unique to Kerala. A mixture of sesame oil, ghee and castor oil, substitute oil base of medicines for external application. 1. Kottamchukkadi Kuzhambu 2. Panchasneham 3. Dhanwantharam Kuzhambu 4. Eladadi Kuzhambu 5. Kaarpasathyaadi Kuzhambu 6. Saharachari Kuzhambu
V Ghrutham Ghrutham are medicated preparations of ghee. Ghee is medicated by adding decoction, powder, juice etc. and is processed until the ghee becomes medicated add water freely. 1. Amrutharaasha Grutham 2. Brhmi ghrutham 3. Swaaraswatha ghrutham 4. Kalyanaka ghrutham 5. Triphala Grutham VI. Lehyams Lehyams are semi-solid preparation of drug, prepared with the addition of jiggery or sugar candy and boiled with the prescribed liquid and fine powder of drugs, until the correct constituency is obtained. 1. Agasthya Rasayana 2. Ajamamsa Rasayana 3. Chinchadhy Lehyams 4. Narasimha Rasayanam 5. Maanibhara Lehyams
VII. Tablets
1. Chandraprabha Gulika 2. Chukkumthippaladhy Gulika 3. Kankayanam Gulika 4. Karuttha Gulika 5. Dhanwantharam Gulika VIII. Avarthis Avarthis come under the category of medicated oil. Here the selected quantity of oil is being medicated by adding medicines repeatedly. The process of medication is repeated to 7, 14, 41, or 101 times. This enhances the potency of oil. 1. Dhwaantharam 21 Avarthis 2. Dhwaantharam 41 Avarthis 3. Dhwaantharam 101 Avarthis IX. Choornams Choornams are preparations made from dried medicines into powder form using heavy pulverizer. 1. Asthma Choornams 2. Elaadigana Choornams 3. Hinguvanchadi Choornams 4. Raasnadi Choornams 5. Thaaleespatradi Choornams X. Kasha yams Disintegrated drugs are concentrated and extracted into water. The drugs are boiled in water and are concentrated 1. PunarnnavadyKashayam 2. Naadi Kasha yams 3. Dhashamoola Kashayam 4. Balaageerakadhi Kashayam 5. Indukandham Kashayam XI. Kashaya Choornams 1. Amruthotharam Kashaya Choornams 2. Aaragwadham Kashaya Choornams 3. Balaguloochyaadi kashya Choornams 4. Dasamoolakaduthirayam kashya Choornams 5. Dhashamoola kashya Choornams 2. PATENTS- PROPRIETARY MEDICINES The important patents- proprietary medicines of Nagarjuna are: 1. Card stab Tablet Effective in hypertension due to any cause 2. Garson It is a strong anti-flatulent drug 3. Haematone Ideal medicine for splenetic and hepatic disorder 4. Halin Effective in common cold, nasal congestion and sinusitis 5. Nagarjuna Eladasamoola Lehyams For all kinds of cough, sore throat and dyspnoea 6. Neutral Tablets For gas trouble, indigestion etc. 7. Rheumat Balm External application in rheumatic pains 8. Smrithi Granules It improves the normal brain functions. Excellent in improving Memory, grasping power, intelligence thinking power especially in children. 9. Thaaleespatradi tablets Effective for cough, distaste, spruce and sore throat 10. Nagarjuna Honey Honey packed in small bottles for use in homes and with food
3. OTC (Over the Counter) Name | PACKING | Ayurvedic Tooth Powder | 50 g | Chyavanaprasam | 250,500g 1 kg | Dandruff Hair Oil | 100 ml | Digest Drops | 25 ml | Kerapookualadi Lehyams | 400 gm | Kids Oil | 100 ml | Nagarjuna Agmark Honey | 50,100,200,500 gm | Nagarjuna Ayurvedic Soap | 75,15 g | Nagarjuna Dahasamani | 50 g | Nagarjuna Snana Choornams | 50 g | Nagarjuna Thalipodi | 50 g | Neelibhringaadi Keram | 100 ml | Special Eladasamoola Lehyams (40 gm x 21) | 1 jar | Tusker Balm | 10 gm |
CHAPTER 4 DATA ANALYSIS AND INTERPRETATION
DATA ANALYSIS AND INTERPRETATION The study titled "A study on the satisfaction level of the customers of Nagarjuna Herbal Products Ltd, Thodupuzha" tries to evaluate the various factors which are affecting the level of satisfaction of the customer. Both primary data and secondary data are used in this study. The primary data is mainly collected through questionnaire.
Table 1 TABLE SHOWING THE USING EXPERIENCE OF THE RESPONDENTS Using period of the Customers | Number of respondents | Percentage of respondents | Below 3 years | 9 | 12 | 3-5 years | 17 | 23 | 5-8 years | 34 | 45 | Above 8 years | 15 | 20 | Total | 75 | 100 | Source: Primary Data
Analysis The above table reveals that out of 75 respondents 12% had using experience of below 3 years, 23% had an experience of between 3 to 5 years, 45% of the respondents had an experience of 5 to 8 years and 20% of respondents had an experience of above 8 years.
Chart 1 CHART SHOWING THE USING EXPERIENCE OF THE RESPONDENTS 0
10
20
30
40
50
Percentage of respondents
Percentage of
Respondents
12
23
45
20
Below 3
Years
3-5 years
5-8 years
Above 8
Years
Interpretation: Most of the respondents have using experience of 5 years and above; this shows the quality of products of the company.
Table 2 TABLE SHOWING THE FACTORS INFLUENCED THE RESPONDENT TO BE A CUSTOMER Factors | Number of respondents | Percentage of respondents | Quality of the product | 24 | 32 | Brand image | 13 | 17 | Customer Care | 16 | 21 | Reasonable Price | 22 | 30 | Total | 75 | 100 | Source: Primary data Analysis Out of 75 respondents 32 percentages of respondents are influenced by the quality of the product, 17 percentages of respondents are influenced by the brand image, 21 percentages of respondents are influenced by the Customer Care services provided by the company and 30% of respondents are influenced by the Reasonable Price of the products.
Chart 2 CHART SHOWING THE FACTORS INFLUENCED THE RESPONDENT TO BE A CUSTOMER
0
5
10
15
20
25
30
35
Quality of the
Product
Brand image
Customer
Care
Reasonable
Price
Percentage of
Respondents
Interpretation: The main feature which instigates them to be a customer is quality of product and reasonable price, this shows the company’s product has demand in market because of the high level of quality it has maintained and relationship with the customer is maintained by satisfying them by providing good products with reasonable price which motivates the customer use the company’s product.
Table 3 TABLE SHOWING THE OPINION OF THE RESPONDNET ABOUT THE QUALITY OF THE PRODUCTS Opinion of the respondent | Number of respondents | Percentage of respondents | Very good | 12 | 16 | Good | 47 | 63 | Fair | 16 | 21 | Poor | 0 | 0 | Total | 75 | 100 | Source: Primary Data Analysis The above table shows that 16% of the respondents think that the quality of the products of Nagarjuna is very good, 63% of respondents think that the quality of the product is good, 21% of the respondents think that the quality of the product is fair and no respondents think that the quality of the product is poor.
Chart 3 CHART SHOWING THE OPINION OF THE RESPONDENT ABOUT THE QUALITY OF THE PRODUCTS
Interpretation: Majority of the respondents have the opinion that the quality of the company’s product is good and up to the mark, as this is one of the factor which motivates them to be the customer as this leads to demand for product, more the demand more is the sales . Table 4 TABLE SHOWING THE OPINION OF THE RESPONDENT ABOUT THE PRICE OF THE PRODUCT Opinion of the respondent | Number of respondent | Percentage of Respondents | Very high | 4 | 5 | High | I5 | 24 | Moderate | 28 | 37 | Low | 25 | 34 | Total | 75 | 100 | Source: Primary Data Analysis The above table shows that out of 75 respondents 5% think that the price of the product are very high, 24% of the respondents think that the price are high, 37% think that the price are moderate and 34% think that the price are low.
Chart 4 CHART SHOWING THE OPINION OF THE RESPONDENT ABOUT THE PRICE OF THE PRODUCT Interpretation: Most of the respondents feel that the price of the company’s product is moderate. This motivates them to buy the product.
Table 5 TABLE SHOWING THE OPINION OF THE RESPONDENTS ABOUT THE PACKAGING OF THE PRODUCTS OF NAGARJUNA Opinion of the respondent | Number of respondent | Percentage of respondents | Very good | 7 | 9 | Good | 44 | 59 | Fair | 21 | 28 | Poor | 3 | 4 | Total | 75 | 100 | Source: Primary Data Analysis: The above table shows that 9% of the respondents have the opinion that the packaging of the products of Nagarjuna is very good, 59% of the respondents have the opinion that the packaging is good, 28% of the respondents have the opinion that the packaging is fair and 4% has the opinion that the packaging is poor.
Chart 5 CHART SHOWING THE OPINION OF THE RESPONDENTS ABOUT THE PACKAGING OF THE PRODUCTS OF NAGARJUNA
INTERPRETATION
The respondents feel that the packing of the company’s product is good, as this could also be one of the reasons why people get attracted to products and buys it.
Table 6 RESPONDENTS OPINION ABOUT THE CONDITION OF THE PRODUCT WHILE THEY RECEIVE THEM Opinion of the respondents | Number of respondents | Percentage of respondents | Very good | 5 | 6 | Good | 48 | 64 | Fair | 19 | 26 | Poor | 3 | 4 | Total | 75 | 100 | Source: primary data Analysis The above table shows that 6% respondents’ opinion about the Condition of the product while they receive them is very good. 64% of the respondents say that it is good, 26% of the respondents say that it is fair And 4% of the respondents say that it is poor while they receive the product.
Chart 6 RESPONDENTS OPINION ABOUT THE CONDITION OF THE PRODUCT WHILE THEY RECEIVE THEM Interpretation: The above Chart shows that 6% respondents’ opinion about the Condition of the product while they receive them is very good. 64% of the respondents say that it is good, 26% of the respondents say that it is fair And 4% of the respondents say that it is poor while they receive the product.
Table 7 TABLE SHOWING THE OPINION OF THE RESPONDNETS ABOUT THE AFTER-SALES SERVICE OF NAGARJUNA Opinion of the respondents | Number of respondents | Percentage of respondents | Excellent | 18 | 24 | Good | 33 | 44 | Fair | 19 | 25 | Poor | 5 | 7 | Total | 75 | 100 | Source: primary data Analysis The above table shows that 24% of the respondents has the opinion that the after sales service of Nagarjuna is excellent, 44% of the respondents has the opinion that the after sales services is good, 25% has the opinion that the after sales service is fair and 7% of the respondents has the opinion that the after sales service of Nagarjuna is poor. Chart 7 CHART SHOWING THE OPINION OF THE RESPONDENTS ABOUT THE AFTER-SALES SERVICE OF NAGARJUNA Interpretation: Most of the respondents feel that the company maintains well after sales service, this helps the company to get more customers and also retain existing ones.
Table 8 TABLE SHOWING THE OPINION OF THE RSPONDENTS ABOUT THE DISTRIBUTION SYSTEM OF NAGARJUNA Opinion of the respondents | Number of respondents | Percentage of respondents | Excellent | 9 | 12 | Good | 31 | 43 | Fair | 28 | 37 | Bad | 6 | 8 | Total | 75 | 100 | Source: Primary Data Analysis The above table shows that 12% of the respondents are having the opinion that the distribution system of Nagarjuna is excellent. 43% of the respondents are having the opinion that the distribution system is good, 37% of the respondents are having the opinion that the distribution system is fair and 8% having the opinion that the distribution system of Nagarjuna is bad. CHART 8 CHART SHOWING THE OPINION OF THE RSPONDENTS ABOUT THE DISTRIBUTION SYSTEM OF NAGARJUNA Interpretation Most of the respondents have the opinion that the company has good distribution system; this helps the company to satisfy the customers by proper supply of products in time and without damage. Table 9 RESPONDENTS OPINION ABOUT THE SOCIAL RESPONSIBILITY OF THE COMPANY Opinion of the respondents | Number of respondents | Percentage of respondents | Completely satisfied | 60 | 80 | Somewhat satisfied | 5 | 7 | Neither satisfied nor dissatisfied | 8 | 10 | Completely dissatisfied | 2 | 3 | Total | 75 | 100 | Source: Primary Data Analysis The above table shows that 11 % of the respondents are completely satisfied with the social responsibility of the company, 49% of the respondents are somewhat satisfied, 31% of the respondents are neither satisfied nor dissatisfied and 9% of the respondents are completely dissatisfied with the social responsibility of the company.
CHART 9 RESPONDENTS LEVEL OF SATISFACTION WITH THE SOCIAL RESPONSIBILITY OF THE COMPANY
Interpretation: Most of respondents are only somewhat satisfied, it may be because the company could not meet their expectation in this regards may be due to the company’s policy. .
Table 10 RESPONDENTS LEVEL OF SATISFACTION WITH THE PROMOTIONAL ACTIVITIES OF THE COMPANY Opinion of the respondents | Number of respondent | Percentage of the respondents | Satisfied | 52 | 69 | Not satisfied | 23 | 31 | Total | 75 | 100 | Source: Primary Data Analysis The above table shows that 69% of the respondents are satisfied with the promotional activities of the company and 31% of the respondents are not satisfied.
CHART 10 CHART SHOWING THE OPINION ABOUT THE PROMOTIONAL ACTIVITIES OF THE COMPANY
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Satisfied
Not satisfied
Not satisfied
Satisfied
Interpretation Most of the respondents are satisfied with the promotional activities of the company; they would have analyzed it with the help of the feedback and response they get from customers directly. Table 11 RESPONDENTS LEVEL OF SATISFACTION WITH THE DOCTORS SERVICE PROVIDED BY THE COMPANY Opinion of the respondents | Number of respondents | Percentage of respondents | Completely Satisfied | 11 | 15 | Somewhat satisfied | 31 | 41 | Neither satisfied or dissatisfied | 25 | 33 | Completely dissatisfied | 8 | 11 | Total | 75 | 100 | Source: Primary Data Analysis the above table shows that 15 % of the respondents are completely satisfied with the doctor’s service provided by the Company, 41% of the respondents are somewhat satisfied 33% of the re neither satisfied nor dissatisfied and 11% of the respondents dissatisfied with the doctors service provided by the company
CHART 11 RESPONDENTS LEVEL OF SATISFACTION WITH THE DOCTORS SERVICE PROVIDED BY THE COMPANY
Interpretation Most of the respondents satisfactory level does not seem to be high but again it’s something relating to the performance of the doctors, how effective they are towards their patients.
Table 12 RESPONDENTS OPINION ABOUT NEEDS OF IMOROVEMENT IN THE PRODUCTS OF THE COMPANY Opinion of the respondents | Number of respondents | Percentage of respondents | No | 58 | 77 | Yes | 17 | 23 | Total | 75 | 100 | Source: Primary Data Analysis The above table shows that 77% of the respondents are having the opinion that there is no need of improvement in the company’s products and 23% of the respondents having the opinion that there is a need of improvement in the company’s products.
CHART 12 RESPONDENTS OPINION ABOUT NEEDS OF IMOROVEMENT IN THE PRODUCTS OF THE COMPANY 0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
No
Yes
Not satisfied
Satisfied
Interpretation The above chart reveals that maximum of the respondents are having the opinion that there is no need of improvement in the company’s products. Table 13 TABLE SHOWING THE RESPONDENTS SATISFACTION LEVEL ABOUT THE CUSTOMER COMPLAINTS HANDLING OF THE COMPANY Opinion of the respondents | Number of respondents | Percentage of respondents | Excellent | 9 | 12 | Good | 42 | 56 | Fair | 18 | 24 | Poor | 6 | 8 | Total | 75 | 100 | Source: Primary Data Analysis The above table shows that 12% of the respondent’s opinion about the customer complaints handling of the company is excellent 56% of the respondents say that it is good, 24% of the respondents say that it is fair and 2% of the respondents opinion is poor.
CHART 13 CHART SHOWING THE RESPONDENTS SATISFACTION LEVEL ABOUT THE CUSTOMER COMPLAINTS HANDLING OF THE COMPANY
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Excellent
Good
Fair
Poor
Not satisfied
Satisfied
OUT
Interpretation The above chart shows maximum respondents are satisfied with the customer complaint handling, the company was successful in doing so mainly with the help of the feedback they get from its customers.
Table 14 RESPONDENTS OPINION ABOUT THE SIDE EFFECTS OF THE PRODUCTS OF THE COMPANY Opinion of the respondents | Number of respondents | Percentage of respondents | No | 69 | 92 | Yes | 6 | 8 | Total | 75 | 100 | Analysis The table shows that 92% of the respondents have the opinion that there is no side effect franchisee meeting of the products and 8% have the opinion that products is having some side effects.
CHART 14 RESPONDENT OPINION ABOUT THE SIDE EFFECTS OF THE COMPANY
Interpretations: The Chart shows that 92% of the respondents have the opinion that there is no side effect franchisee meeting of the products and 8% have the opinion that products is having some side effects. Table 15 TABLE SHOWING THE OPINION OF THE RESPONDENTS ABOUT THE SATISFACTION WITH NAGARJUNA Opinion of the respondents | Number of respondents | Percentage of respondents | Satisfied | 62 | 83 | Not satisfied | 13 | 17 | Total | 75 | 100 | Source: Primary Data Analysis The table shows that 83% of the respondents are satisfied with Nagarjuna and 13% of the respondents are not satisfied with Nagarjuna.
Chart 15 CHART SHOWING THE OPINION OF THE RESPONDENTS ABOUT THE SATISFACTION WITH NAGARJUNA Interpretation Most of the respondents are satisfied with Nagarjuna Company, due to various reasons the company provide good commission, resolve their problems in meetings, good profit margin, efficient distribution system etc. Table 16 TABLE SHOWING RESPONDENTS EXPECTATION FROM NAGARJUNA Opinion of the respondents | Number of respondents | Percentage of respondents | Extending customer satisfaction | 27 | 36 | Extending availability of products | 23 | 31 | Specialty advertising | 25 | 33 | Total | 75 | 100 | Source: Primary Data Analysis The table reveals that 36% of the respondents expect more profit Margin from Nagarjuna, 31% of the respondents expect more credit and 33% of the respondents expect specialty advertising.
CHART 16 CHART SHOWING THE RESPONDENTS EXPECTATION FROM NAGARJUNA
Interpretation: The table reveals that 36% of the respondents expect more profit Margin from Nagarjuna, 31% of the respondents expect more credit and 33% of the respondents expect specialty advertising.
CHAPTER 5
FINDINGS
CONCLUSIIONS
AND
RECOMMENDATIONS
5.1 Findings The data collected from the survey and sources of information of the researcher To make the following findings and conclusion. 1. Majority (45%) of the respondents has been the using experience Of Nagarjuna between 5 to 8 years. Majority (32%) of the respondents are influenced by the quality of the products to be a customer. Most of the respondents think that the quality of the products of
Nagarjuna is good. 2. Majority (32%) of the respondents are influenced by the quality of the products to be a customer. Most of the respondents think that the quality of the products of
Nagarjuna is good.
3. Most (63%) of the respondents feel that the quality of the product is moderate. 4. Most (39%) of the respondents feel that the price of the product is Moderate. 5. Most (59%) of the respondents feel that the packing of the product is good 6. Most (64%) of the respondents say that the condition of the product while they receive them is good. 7. Majority (44%) of the respondents feel that the after sales service of
Nagarjuna is good. 8. Most (43%) of the respondents feel that the distribution system of Nagarjuna is good 9. Completely satisfied (43%) of the respondent 's opinion about the social responsibility of the company 10. Satisfied (69%) of the respondent 's level of satisfaction with the promotional activities of the company 11. Majority (41%) of the respondents are somewhat satisfied with the doctor’s service provided by the company 12. Majority (77%) of the respondent 's opinion about no needs of improvement in product of the company.
14. Most (56%) of the respondents are satisfaction level about the customer complaint handling service is good 15. Majority (83%) of the respondents is satisfied with the services provided by Nagarjuna 16. Most (77%) of the respondents are excepting more customer satisfaction from the company. Customer satisfactions play an important role in the proper functioning of Nagarjuna because most of the sales turnover is derived from the customer. Customer satisfaction is affected by many inter-related factors, such as price, quality, social responsibility, after sales service, and: so on and so. It was revealed that from the analysis of data, 83 % of customer was satisfied and 17% of customer was not satisfied with Nagarjuna. 5.2 SUGGESTIONS 1. Keep the tradition and heredity of Ayurvedic and do not make any compromise with regard to the quality and validity of the product to attract the customers. 2. The company may also conduct medical and free checkup campaigns in important locations for popularizing the Nagarjuna Herbal products Ltd. During this campaign the company has to depute experienced doctors to meet the customers and explain the importance of medicines and ingredients. 5.3 CONCLUSION Nagarjuna Herbals Products Ltd an ISO 9001: 2000 certified company was establish in the year 1989 with the mission to contribute to Ayurvedic in a creative manner in Kerala and elsewhere. Within a short span of 16 years, Nagarjuna has become the second largest Ayurvedic .house in Kerala, with a turnover of 21crores and 80% of the sales turnover is; derived from this customer network which reveals the importance of network. Nagarjuna has a wide marketing network, which include over 850 retail outlets in Kerala and 1170 outlets outside the state. No manufacturers marketing program is complete if it lacks plans for securing and maintaining the cooperation of the distributive outlets. The fortunes of manufacturers rise and fall with those of their distributors and dealers. If distributors and dealers succeed in selling the product, the manufacturer also succeeds and if they fail, the manufacture fails. Most of the customer of Nagarjuna is satisfied with them and the well- structured organization also contributes to its success.
CHAPTER 6 APPENDICES AND ANNEXURES
1. QUESTIONNAIRE 2. A STUDY ON THE SATISFACTION LEVEL OF THE FRANCHISEES OF NAGARJUNA HERBAL PRODUCTS LTD; THODUPUZHA
1. How long you have been a customer of Nagarjuna? (i) Below 3 years (ii) 3 – 6 years (iii) 6 – 10 years (iv) above 10 years
2. Which factor influenced you to be the customer of Nagarjuna? (v) Quality (vi) Brand Image (vii) company support (viii) Good commission
3. What do you think about the price of the product of Nagarjuna? (ix) Very good (x) Good (xi) Fair (xii) Poor
4. What do you think about the quality of the product of Nagarjuna? (xiii) Very high (xiv) High (xv) Moderate (xvi) Low
5. What do you feel about the packing of the products of Nagarjuna? (xvii) Very good (xviii) Good (xix) Fair (xx) Bad
6. What is the condition of the product while you receive them? (xxi) Very Good (xxii) Good (xxiii) Fair (xxiv) Poor
7. What do you feel about the after sales service of Nagarjuna? (xxv) Excellent (xxvi) Good (xxvii) Fair (xxviii) Poor
8. What is your opinion about the distribution m of Nagarjuna? (xxix) Excellent (xxx) Good (xxxi) Fair (xxxii) Bad 9. Are you satisfied with the present customer care system of the company? (xxxiii) Yes (xxxiv) No 10. Are you satisfied with the social responsibilities of the company? (xxxv) Completely satisfied (xxxvi) Somewhat satisfied (xxxvii) Neither satisfied nor dissatisfied (xxxviii) Completely dissatisfied 11. What is the time gap between placing orders and receiving medicines? (xxxix) 2 days (xl) One week (xli) More than 1 week
12. Are you satisfied with the promotional activities of the company? (xlii) Yes (xliii) No
13. Are you satisfied with the doctor’s service provided by the company? (xliv) Completely satisfied (xlv) Somewhat satisfied (xlvi) Neither satisfied nor dissatisfied (xlvii) Completely dissatisfied
14. What is your opinion about the handling of customer complaints of Nagarjuna? (xlviii) Excellent (xlix) Good (l) Average (li) Bad
15. Are you completely satisfied with Nagarjuna? (lii) Yes (liii) No
16. What do you expect from Nagarjuna? (liv) Extended customer satisfaction (lv) Extending credit facility (lvi) Specialty advertising 17. Do you have any suggestions to improve the products, sales and services of Nagarjuna? ____________________________________________________________
____________________________________________________________
____________________________________________________________
_________ Age: Sex: Education: Income:
CHAPTER 7 BIBLIOGRAPHY
BIBLIOGRAPHY 1. Kothari C.R “Research Methodology”, New Delhi, Wiley Eastern Ltd. Second edition, 1990. pp 78 -90. 2. Kotler Philip Marketing Management, New Delhi, Prentice Hall of
India Pvt. Ltd, The millennium Edition, 2000.pp 38-43 3. Carl Me Daniel, Jr. Contemporary Marketing Research, New York,
West publishing company, Third Edition 1996. 4. From the brouchers of nagarjuna herbal ltd.
5. From the company LIBRARY
Bibliography: India Pvt. Ltd, The millennium Edition, 2000.pp 38-43
INTRODUCTION Ayurveda, the science of life and longevity has a history as long as human civilization and even beyond. Ayurveda, the consider nature as the prime provider of life. Ayurveda is one of the greatest gifts of the sages of ancient India to humankind and accepted as the oldest scientific medical system with a long record of clinical experience. Ayurveda aims at the physical, mental and spiritual well being of human beings. Ayurveda treats man as a whole, which is a combination of body, mind and soul. Ayurveda is the oldest surviving complete medical system in the world. Derived from its ancient Sanskrit roots - ‘ayus ' (life) and ‘Veda ' (knowledge) – and offering a rich, comprehensive outlook to a healthy life, It was expounded and practiced by the same spiritual Rishis, who laid the foundations of the Vedic civilization in India, by organizing the fundamentals of life into proper Ayurvedic is the knowledge or wisdom (Veda) of life (ayur).It is quite simply, the oldest system of healing Ayurveda is the knowledge or wisdom (Veda) of life (ayur).It is quite simply, the oldest system of healing known to humankind. The ancient art of Ayurveda is part of the wisdom and lore of India, Originated around 5000 years ago from India, it has broadened its essence across the globe and occupied a key position in the fitness care system. Today, it 's a sole, indispensable branch of medicine an absolute naturalistic system that depends on the diagnosis of a body 's three fine energies-vata, pitta and kapha-to achieve the right balance .These three Doshas are called the tridoshas. A balance among these life forces is essential for proper health. Any imbalance among the tridoshas causes a state of unhealthiness or disease.
Ayurveda has its own views about values and philosophy of life. Ayurvedic system describes man as a universe within himself, which is a child of the cosmic forces. His existence is inextricably tangled to the total cosmic manifestation. Other indispensable concepts of Ayurvedic System are the SapthaDhathus (the bodily tissues), Srotas (channels), amla (toxins and filthy matter) and the trinity of life -body, mind and spiritual consciousness. The first step in the method of diagnosis in Ayurvedic form of medicine is to determine the constitution of the person. That t means it is the patient who is diagnosed first and not the disease. Ayurvedic was looked, upon with contempt, during the 500 years of foreign domination in India. But the spirit of this life science survived. Today Ayurveda has got attention of all people throughout the world. Kottackal Aryavaidyasala Sala and its founder Vaidyanathan P.S. Varier, called the pioneer of Ayurveda in the south. He is the first man in the south India to organize the treatment of patients under the Ayurvedic system. He pioneered the production of Ayurvedic medicines on modern times and ensured that Ayurveda occupied the right place among the country’s major medical system. Ayurveda is promoted as a complete alternative system of medicine in the world as it is the only one, which is well documented and coded and has the potential for further development. India has a substantial share of the market by promoting Ayurveda as a system of medicine rather than a food supplement alone. The center has already introduced good manufacturing practice (GMP) for drugs manufacturing. The ever increasing demand for drugs, especially over the counter products has compelled the centers to keep a vigil on the quality of these drugs and observes good laboratory practice.
Exports of Ayurvedic medicines have reached a value of 100 million dollars a year (about 10 % the value of the entire Ayurvedic industry in India). About 60% of this crude herbs ( to be manufactured into products outside India) and about 30 % is finished product shipped abroad for direct sales to consumers, and the remaining 10 % is partially prepared products to be finished in the foreign in the foreign countries.
INDUSTRY PROFILE Ayurvedic is one of the oldest scientific medical systems in the world, with a long record of clinical experience. It explains us both how to cure deceases and how to promote longitivity. Ayurvedic treats man as a ‘whole’-which is a combination of body, mind and soul. Therefore it is a holistic and integrated medical system.
‘Ayurvedic’-the name is derived from two Sanskrit words i.e., Ayu which means life and Veda which means knowledge or learning. . According to the ancient Ayurvedic scholar Charka, "Ayu" is comprised of four essential parts, the combination of mind, body, senses and the soul. Hence Ayurvedic indicates the science by which life in its totality is understood. It is a way of life that describes the diet, medicine and behavior that are beneficial or harmful for life. The knowledge of Ayurvedic is primarily drawn from the traditional Ayurvedic books (or samhitas).They are charka samhita (compiled around 1500 BC.), Susrutha samhita, and Ashtanga hridaya. (Approximately 500 AD).these three classic texts describe the basic principles and theories from which the Ayurvedic is evolved.
Ayurvedic has been a lively system of health which is practiced more than 300 years. Although it is practiced in India for centuries but its growth as an industry has commenced only a few years back. This was mainly on account of lack of awareness and initiative by its practitioners, industry and government. . In recent past, the tradition of preparation of medicines by the Ayurvedic practitioner has almost come to an end. Now we find a much organized and commercial production of Ayurvedic medicines in big factories. Ayurvedic and its products are becoming popular with increasing demand the world over.
Ayurvedic have some psychological benefits also. Ayurvedic is the first such medical systems who recognizes that all diseases are but the direct manifestation of one`s mental conditions. It says human mind consists three states or trigunas—sattva, rajas and tamas. Any disturbances in the equilibrium of the tri-gunas manifest in physical illness according to the intensity or nature of the disturbances. In fact, the condition of body and mind are integral to the overall health of an individual.
When the mind is stressed the stress hormone cortisone is released by adrenal glands. The level of hormone released affects the total volume of the brain`s hippocampus, which regulates our memory. Stress also affects all our decision-making activities in every field of life. Ayurvedic stresses on four principles—regulation in ahara (food habit), vihara (activities), nidra (sleeping habit), and maithuna (sexual habit), to maintain the balance and equanimity of the mind. Especially its guidelines for an intelligently regulated diet and daily routine are, now, accepted techniques for stress management.
Ayurvedic massages, inhalation of herbal (Aromatherapy) preparations, panchakarma (nasya) besides the much-tested yogasanas and meditation leave a calming effect on the nerves.
Evidences show that Ayurvedic had nurtured almost all the medical systems of the world. The Egyptians learnt about Ayurvedic long before the invasion of Alexander in the 4th century BC through their sea-trade with India. Greeks and Romans come to know about it after the famous invasion. The Unani form of medical tradition came out of this interaction. In the early part of the first millennium Ayurvedic spread to the East through Buddhism and greatly influenced the Tibetan and Chinese system of medicine and herbology. Around 323 BC, Nagarjuna, the great monastic of Mahayana Buddhism and an authority on Ayurvedic had written a review on Susrutha Samhita. In 800 AD Ayurvedic was translated into Arabic. The two Islamic physicians Avicenna and Razi Serapion, who helped form the European tradition of medicine, strictly followed Ayurvedic.
In the postmodern age, the popularity of this vibrant tradition of Ayurvedic lies in its, subtle yet scientific, approach to heal a person in its totality. It aims, not only at healing the body, but also the mind and spirit, at one go. Its unique understanding of the similarities of natural law and the working of human body, as well as its holistic treatment methods, help it to strike a balance between the two. This gives Ayurvedic an edge over other healing systems. That may be the reason behind Ayurvedic being the longest unbroken medical tradition in the world, today.
Total global herbal market is of a size of 90 billion dollars. European Union is the biggest market with the share 45% of the total herbal market. North America accounts for 11%, Japan 16% ASEAN countries 19% and rest European countries 4.1%.Countries like Japan and china have successfully marketed their traditional medicines abroad. Their alternative medicines are well accepted in Europe and US. Product like ‘Ginseng’-the framed aphrodisiac from china is having the same property as of Ashwagandha, an Ayurvedic medicine, yet it accounts for over US$ 800M of international market as compared to all our herbs put together.
But there are positive signals also for India in the global market; India has 16 Agro-climatic zones, 15 biotic provinces 45000 different plant species and 15000 medical plants that include 7000 Ayurvedic 700 in Unani medicine, 600 in sidha medicine and 30 in modern medicine. This makes India one among 12 mega bio-diverse countries in the world, which despite having only 2.5% total land area, accounting for over 8% of the record species of the world. The forecast is that the global market for the herbal products is expected to be $5 Trillion by 2050.Herbal remedies would become increasingly important especially in developing countries. India, with its bio diversity has a tremendous potential and advantage in this emerging area.
Figure 2.1 Global markets for herbal products
Ayurvedic Medicine Industry in India There are number of companies producing Ayurvedic medicine 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. Ayurvedic manufacturing units can be broadly classified into organized and unorganized sectors. The organized sectors consist of both large and small manufacturing units. The large manufacturing units comprise the well established manufactures that operate in both domestic and international markets. They are the flag bearers of industry and mainly responsible for the revival and growth of Ayurvedic. The Organized sector include companies such as Dabour India Ltd, Himalaya drug company ltd, Vaidyanathan Ayurvedic Bhavan Ltd, Zandu Pharmaceuticals Ltd,Charak pharmaceutical Ltd etc.Many more companies have diversified into Ayurvedic. These include Ayurvedic companies such as Cadila health care Ltd, Albert David Ltd, Cipla Ltd. Small manufacturing units manufacture a few medicines and operate in small area. Such units are quite strong in their area of operation. There are certain small manufacturing units who cater to export market only.
The key suppliers in Ayurvedic products are Dabur, Vaidyanathan, 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; a brief description is provided for them, arranged here from oldest to newest:
Dabur India Ltd is India 's largest Ayurvedic medicine supplier and the fourth largest producer of FMCG. It was established in 1884, and had grown to a business level in 2003 of about 650 million dollars per year, though only a fraction of that is involved with Ayurvedic medicine. Dabur 's Ayurvedic Specialties Division has over 260 medicines for treating a range of ailments and body conditions-from common cold to chronic paralysis. These materials constitute only 7% of Dabur 's total revenue. Dabur Chyawanprash (herbal honey) has a market share of 70% and chewable Hajmola Digestive Tablets has an 88% share. Other major products are Dabur Amla Hair Oil, Vatika (Shampoo), and Lal Dant Manjan (Tooth Powder). Zandu pharmaceutical works. Was incorporated in Bombay in 1919, named after an 18th-century Ayurvedic. The company focuses primarily on Ayurvedic products (in 1930, pharmaceuticals were added, but the pharmaceutical division was separated off about 30 years later). However, today Zandu has a chemicals division and cosmetics division. Its total sales volume is about 45 million dollars.
The Himalaya Drug Company-was established in 1934 in Bangalore. It currently has a business level of about 500 million dollars and has a U.S. distribution division (Himalaya USA). It is known in the U.S. for the product Liv-52, marketed as a liver protector and therapy for liver diseases like viral hepatitis; the product was first marketed in India in 1955.
Sri Vaidyanathan Ayurvedic Bhavan Ltd. (Vaidyanathan for short) was founded in 1917 in Calcutta, and specializes in Ayurvedic medicines, though it has recently expanded into the FMCG sector with cosmetic and hair care products.
Vaidyanathan has a sales volume of about 350 million dollars, but most of the product sales are in the cosmetic range. The company is having over 700 Ayurvedic products, made at 10 manufacturing centers, with 1,600 employees.
Vicco Laboratories was established in 1958. It mainly produces topical therapies based on Ayurvedic and is best known internationally for its toothpaste product, Vajradanti, which has been marketed in the U.S. for more than 25 years.
The Emami Group, founded in 1974, provides a diverse range of products, doing 110 million dollars of business annually, though only a portion is involved with Ayurvedic products, through its Himani line; the company is mainly involved with toiletries and cosmetics, but also provides Chyawanprash and other health products.
Ayurvedic Medicine Industry in Kerala Kerala have a rich tradition of Ayurvedic. The knowledge of Sanskrit enables the healers of Kerala to interpret the Ayurvedic system accurately and get a proper insight. Kerala has been able to preserve authentic Ayurvedic as well as make some impressive contributions of its own. During this period, Ayurvedic is dominated by eight families who considered it as their family profession. They are called Ashtavaidyas (Eight physicians) and where well-versed in vagbhata’s Ashtangahridaya. Each of them specialised in one of the eight branches of Ayurvedic and helped in keeping the traditional art of healing alive and dynamic.
The major credit for reviewing and spreading this message in the 20th century goes to the Kottackal Aryavaidyasala and its founder Vaidyanathan P.S Varrier called the pioneer of Ayurvedic in South India. He is the first man in South India to organize the treatment of patients under the Ayurvedic system.
He pioneered the production of Ayurvedic medicines on modern times and ensured that Ayurvedic occupied the right place among the country’s major medical system. The Ayurvedic vidyas also gave their contribution to the development and improvement of the health care system, and many of them prepared some formulations themselves regionally according to the provisions of Ayurvedic texts like Ashtangahridaya, Charaka samhitha etc.
Exports of Ayurvedic medicines have reached about 110 million dollars a year and it is about the 10% of the value of entire Ayurvedic industry in India. For promoting Ayurvedic as a system, there should be adequate infrastructure, R&D aimed at ensuring quality control, new product development, basic research and product standardization.
Ayurvedic Treatment in Kerala
The ancient Ayurvedic system has eight branches. They are;
Kayachikitsa (General medicine), Shalyatantra (surgery), ShalakyaTantra (ENT and Ophthalmology), Graha (Psychotherapy), Damshitra (toxicology), Kumara bhritya (Paediatrics and Gynaecology), Rasayana (rejuvenation) and Vajikarana (Aphrodisiacs). Kerala Ayurvedic Treatment is unique and some treatment is done only by some specialised practitioners or Ayurvedic hospitals in Kerala. Example, Reduction therapy. Reduction therapy has two parts called pacification and purification. Pacification is done with herbs, fasting, exercise, sunbathing and exposure to wind. Purification is a special form of therapy for elimination of the disease causing humours. Ayurvedic elimination therapy is its system for guiding the toxins to their sites for elimination. It consists of five parts - The pancha karmas - cleaning enemas, nasal medication, Purgation, Emesis and bloodletting. All these require preliminary Ayurvedic practises of oleation and sweating.
Kerala has developed its own Ayurvedic treatment modalities like Dhara, pizhichil, Navarakizhi, Elakizhi, Sirovasthi, Thalapothichil etc. which are highly effective in a number of diseases which include Motor neuron diseases, Arthritis of various kinds, skin diseases, heart diseases, peptic ulcer, Asthma, Peripheral vascular diseases etc. One of the many available Ayurvedic therapies in Kerala is massaging. Massaging is offered here as a method of rejuvenation as well as a treatment. It gives relief from pains and aches, increasing blood circulation, enhancing immunity, rejuvenates the body and relaxes the mind. Another Ayurvedic remedy is Marma chikilsa, a treatment similar to the Chinese acupuncture, is an advanced form of massage and is widely utilised by Kalaripayattu (Kerala’s material art) exports for improving flexibility.
The Ayurvedic Acharyas (vaidyas) in Kerala are also proficient in Vishagara-vairodh Tantra or Toxicology .Medicines like gorochandanadi used in the cure of fever, epilepsy, treatment of small pox and other infectious deceases.
Today Ayurvedic is one of the emerging sectors in Kerala, which is growing rapidly because of the growth in tourism sector. The number of tourists visiting Kerala is increasing year over year. In order to take the advantage of it many Ayurvedic groups started Ayurvedic hospitals and Resorts. The Kerala government and some social organizations are also conducting awareness programs for the promotion of Ayurvedic.
CHAPTER 2
RESERCH DESIGN
RESEARCH DESIGN 2.1 STATEMENT OF THE PROBLEM Nagarjuna Herbal Products Limited is one of the major producers of Ayurvedic products in Kerala. Nagarjuna Herbal Products Limited has a wide marketing network through its own customer throughout Kerala. Nagarjuna Herbal products limited is facing competition from similar industries, which are manufacturing and marketing Ayurvedic products; this success of retail sales of Nagarjuna Herbal products Limited depends on the effectiveness of the customer Nagarjuna Herbal Products Limited is also interested to know whether their customers are satisfied or not. Hence the present study attempts to evaluate the level of satisfaction of the customer of Nagarjuna Herbal products Limited.
2.2 SCOPE OF THE STUDY
1. The Ayurvedic industry faces a stiff competition from the domestic companies. This study will analyze the various inherent strength of the company customer network and helps to strengthen further the companies’ attributes and improve the market share of the company
2. The study will help the company to know the main problems faced by the, customer their opinion about the quality of the product and the discount and the discount allowed by the company and thereby they can develop new strategies to make a good relationship with the customer 2.3 OBJECTIVES OF THE STUDY Main Objectives 1. To study the level of satisfaction of the customer of Nagarjuna Herbal products Ltd., 2. To study the opinion of the customer about the price, quality, packing of the products and the distribution system of Nagarjuna Herbal products Ltd. 3. To study the promotional activities of the company
4. To test whether there is significant relationship between various factors affecting customer satisfaction and the opinion of coustmers about coustmer satisfaction 5. To evaluate the service rendered by the company to the customer 2.4 RESEARCH METHODOLOGY Research methodology is a systematic way to solve the research problem.
Primary data Primary data are those data that have been observed or recorded by the researcher for the first time to their knowledge.
Collection of primary data Primary data are collected from the Nagarjuna Herbal Product Limited customer through interview schedule. An Interview schedule is a formal list of questions that will be discussed or asked by an interviewer with the respondents in person or direct who in turn records answers given by the respondents. The questions used by the researcher in the interview schedule are multiple choice questions and dichotomous questions The survey technique is intended to secure one or more items of information from a sample of respondents who are representatives of a large group. Secondary data Secondary data are those that have been collected by some other persons for his purpose or some other purpose and published. In this study the researcher used many sources of secondary data such as company journals, books, annual reports, Internet etc. Sampling In this study the researcher used simple random sampling method for sample selection. Sample area Customers of Nagarjuna Herbal Products Limited, in Kottayam and Idukki Districts of Kerala. Sample size Sample size is the number of samples, which selected for collecting information for the study. In this study the researcher conducted a survey among 75 Customer of Nagarjuna Herbal Products Limited in Kottayam and Idukki districts of Kerala State . 2.5 LIMITATIONS OF THE STUDY * The respondents of questionnaire may not give correct information * Accuracy of the data depends upon the information provided by the
-respondents.
* Time has been the major constraint while performing the market study. 2.6 CHAPTER SHCEME CHAPTER 1: Introduction to the study This chapter gives a brief introduction of the need and objectives of the study CHAPTER 2: Research Design This chapter deals the core concepts of design such as title of the study, objectives, scope of the study, statement of problem, limitations and methodology. CHAPTER 3: Profile of the organization This chapter gives a brief insight about THE NAGARJUNA HERBAL PRODUCTS CHAPTER 4: Analysis and interpretation This chapter gives details regarding the analysis and interpretation of the data collected. It comprises of the data collected and presented in the form of tables, graphs and charts and its interpretation.
CHAPTER 5: Findings and Recommendations This chapter concludes the project report. It comprises of the summary, findings and conclusions based on the data collected and the various recommendations and suggestions that can be made,
CHAPTER 3 COMPANY PROFILE
COMPANY PROFILE Over the years, Ayurveda, the ancient wisdom of healing from the Indian sub continent has been on the path of dynamic resurgence as a holistic health care system attracting worldwide wisdom. Established in the year 1989 “Nagarjuna Herbal Products Limited “has one basic mission that is restoration of Ayurveda to its original glory. It was specifically setup with the mission to contribute to this resurgence in a creative manner in Kerala and elsewhere. By pursuing this ‘path with single – minded devotion, the company hope to become the worthy inheritor of a priceless heritage. Even a casual glance at the record of accomplishment of the company would show that the company is well on its way to achieve its mission and going beyond. In this search for excellence, Nagarjuna has gone one step further. For the first time, it has brought together the Aryavaidyasala and Ashtavaidyas schools of thought to take advantage of the finer points of both. To sustain this delicate synthesis, Nagarjuna draws on the expertise of advisory committee consisting of renewed Ayurvedic physicians. Within a short span of 18 years, Nagarjuna has become the second largest Ayurvedic house in Kerala with a turnover of 21 crores, continuously making profit since 1991 and declaring dividends regularly for the last 17 years. The company’s loan and interest payments are so prompt that it has won the admiration of the financial institutions that support it. Nagarjuna Herbal Products Limited is also the first corporate house in the Ayurvedic sector in Kerala. It is also having the certification of ISO 9007-2000 and the GMP certification. The company provides employment of over 1200 persons directly and indirectly. Nagarjuna state of the art of manufacturing facilities are located at Alakkode, 6 km from Thodupuzha, in the Idukki district of Kerala State, where traditional values and strict adherence to ancient Ayurvedic texts as the law. This place has proximity to the Western Ghats, which has abandon resources of herbal plants. This production facility are also streamlined to incorporate modern technology to have benefits of its accuracy, hygiene and speed in mass production, supervised by experts in Ayurvedic wisdom as well as by knowledgeable engineers. The venture has active participation from the Kerala State Industrial Development Corporation, Kerala Financial Corporation and the Industrial Development Bank of India. Sri promotes the company. V.G. Devadas Namboodirippad, first entrepreneur with financial support from the financial institutions KSIDC and IDBI. An innovative Research and Development with a 70 lakhs Research Laboratory and a never vigilant quality control section ensures that the Nagarjuna products are of the best quality and true to the Ayurvedic stipulations. These products numbering from over 500 are distributed all over Kerala through a network of 10 lakhs customer which have the unique feature of having the service of Ayurvedic doctors to attend to the needs of the patient customers in the outlets. The company has not limited its operations to the boundaries of Kerala alone, but has extended to 17 states outside Kerala. The main areas of operations are Karnataka, Tamilnadu, Andhra Pradesh, Goa, Delhi, Maharastra, Gujarat, U.P, M.P, Rajasthan, Orissa, & Uttaranchal. Nearly 180 franchises with service of doctors and quality medicine are already operating in outside Kerala. Interest in the form of enquiries is clear evidence that company is intended to expand this franchisee network in the above said states and particularly the metropolitan cities in an ambition manner. Ayurvedic treatment is another area to which Nagarjuna has paid special attention. Ayurvedic is for rejuvenation for the healthy and curing of the sick. Nagarjuna Ayurvedic Centre at Thannipuzha, Kalady, Kerala has all facilities to serve the needs of both, which is set up on the banks of the river Periyar in scenario surroundings and the centre provides the entire range of Ayurvedic treatments exclusive to Kerala life, Pizhichil, Dhara ,Sirovasthi ,indicated for Rheumatism ,Arthritis ,Stiffness of joints, Spondylitis ,Fatigue, lack of vitality and so on. A sister concern of Nagarjuna Research is a charitable Institution, which is currently implementing an ambitious programme for promoting the cultivation of Ayurvedic plants and trees, as there cannot be Ayurveda without them. In the last few years, lakhs of medicinal plants have been planted under the aegis of the foundation. Basic Research into Ayurveda, publications of Ayurvedic literature and so on is some of its many projects. A New Thrust to Research & Development The R&D division at Nagarjuna has evolved stringent testing procedures for its drugs. An example is the fail safe system of multiple tests, which ensures a high level of quality, consistency and efficiency in all its formulation. A significant development recently is the establishment of a modern laboratory. This laboratory has an on-going programme of basic research in Ayurveda, besides development of new formulations and standardization of drugs. Nagarjuna has its own hospital facility in Thodupuzha, where an experienced team of physicians carries several highly modernized Ayurvedic treatments. Nagarjuna commitment to advance the cause of Ayurveda, doesn’t stop at the manufacturing and marketing drugs, but also covers a broad spectrum of activities in the true of Ayurveda. The major among them are: 1. Development of new medicines to prevent diseases inherent in changing life styles and compacts the evil effects of modern civilization. 2. Gross pollination of the different branches of Ayurveda and modernization of the versatile scenic. 3. Establishment and maintenance of botanical gardens of medical plants and herbs to eliminate the death of the drugs; 4. Identification, production and marketing of diseases related specified drugs through modern technology and methods and to make these essential drugs available freely for the alleviation of human suffering; 5. Comprehensive multifaceted development of Ayurveda in all its varied aspects and extensive propagation of its message; Presently, Ayurvedic has become progressively global, offering immense opportunities to Ayurvedic companies all over. So Nagarjuna is committed to exploit these opportunities as much as possible to its advantage. However in order to do this, the company has to upgrade its infrastructure, equipment, R&D and people to the internationally accepted standards including product registration abroad. Nagarjuna presence in exports now extend to Asian, European , South American and Middle East markets ; operations have already been started to countries such as Canada, Kuwait and other Gulf countries, West Indies, Singapore etc. The company’s marketing activities cover over 17 states other than Kerala. This indicates that company is on the right track and that the overall position of the company is very stable and positive and that it looks forward. Quality Policy * Committed to quality of the product * Restore Ayurveda as a mainstream health management system * Achieve a sustained organizational growth Quality Objectives * Focusing on process and customer * Developing and empowering people * Encouraging creativity, innovation and teamwork * Using effective information technology Mission * Restoration of Ayurveda to its original glory Vision * To be the best solution provider in health care through in Ayurveda. * Values * The company delivers solutions that will please its customers. * Delivers returns that motivate its investors * By understanding the deep and fundamental needs of its people, its customers, its investors and Eco system (Alliances, Community and Environment) * Take actions that strengthen the company and inspire the best in others (By setting an example in relationships, integrity, honesty, humility and hard work). 3.2 MARKETING Nagarjuna has emerged as one of the top-most leader of Ayurveda market in Kerala by means of its marketing strength. The core of the marketing network is a chain of exclusive franchisee clinics spread over the states of India namely Kerala, Tamilnadu, Karnataka, Andhra Pradesh, Maharastra, Gujarat, Goa and Delhi. Nagarjuna has a very good and wide marketing network, which includes over 850 franchised outlets in the state of Kerala and 180 franchisees outside the state. The unique features of these franchisee clinics is the availability of a doctor and the availability of Nagarjuna brand medicines at all times, Sales depots services these franchisees. There are 4 sales depots in the state of Kerala. The entire marketing operations are controlled from the Head office situated at Thodupuzha of Idukki district The marketing programs includes propagation to Ayurveda, which is facilitated through sales promotion programs, social marketing activities like medical camps, seminars, awareness camps etc. In Kerala, the marketing operations of Nagarjuna are mainly under divisions of Generic divisions, Ethical divisions and OTC divisions.
Generic Division: This division handles the marketing of classical preparations (traditional medicines) and about 75 % of turnover if the company is derived from this division. The generic division is under the control of a regional manager and 4 area managers who are supported by a team of 20 marketing executives.
Ethical division: This division handles marketing of ethical products There is a regional sales manager, who heads this ethical division and there are 4 sales managers and 21 marketing executives to support him. About 15% of turnover of the company comes from this division. OTC division: This division deals with the marketing of consumer products. These products are sold to Nagarjuna own agencies, other Ayurvedic agencies and consumer retail shops which result in nearly 10% of the company 's turnover. The administration of the marketing division is done through 4 offices located at Vadakara, Shornur, Muvattupuzha and Mavelikara. The medicines required for the market is transferred to these areas offices and are supplied are made to franchisee, and other outlets .There are 2 commercial officers in charge of the inventory management, debt management, finance management and other administrative aspects. There are also other office staffs that help them also logistic staffs who help them to make packing deliveries. Organization Structure of Nagarjuna Herbal Products Ltd
W
M.D
E.D
C.E
F.M
M.M
PR.M
PE.M
D.M
D.M
PR.D
PE.D
A.M
A.M
PR.A
PE.A
A.O
S.O
MO
A.A
A.C
S.OR
C.A
Abbreviations M.D - Managing Director E.D - Executive Director C.E - Chief Executive F.M - Finance Manager D.M - Deputy Manager A.M - Assistant Manager A.O - Accounts Officer A.A - Accounts Assistant A.C - Account Cashier M.M - Marketing Manager S.O - Sales Officer M.O - Marketing Officer S.OR - Sales Organizer C.A - Clerical Assistant PR.M - Production Manager PR.O - Production Officer PR.A - Production Assistant PE.M - Personnel Manager PE.O - Personnel Officer PE.A - Personnel Assistant 3.3 PRODUCT PROFILE Nagarjuna follows the oldest system of preparation of medicines as per the rules and regulations prescribed. But when hygiene, accuracy and speed matters it is up to the modern machineries. So presently the company’s manufacturing process has been mechanized to a large extent. These are controlled by a group of doctors and scientists. Apart from the preparation of traditional medicines, Nagarjuna has a wide range of patent medicines. The R&D division of Nagarjuna has evolved strength testing procedure for its drugs. A significant development in this field is the recently established modern laboratory set up costing Rs. 70 lakhs. The laboratory has an on-going program of basic research in Ayurveda, besides development of new formulation and standardization of drugs is also in this department Nagarjuna has 427 traditional medicines and 27 patent medicines... 1. TRADITIONAL MEDICINES: The important traditional medicines of Nagarjuna are: I. Arish tams ii. Asavams iii. Oils iv. Kuzhambus v. Ghrutham vi. Lehyams vii. Tablets viii. Avarthis ix. Choornams x. Kasha yams Xi. Kashaya Choornams I. Arishtams These are fermented types of medicines prepared adding honey, jiggery, sugar and the powder of some medicines including spices. These preparations will have an alcohol content of 6-10 %, which is generated due to the fermentation process. Self-fermented preparations using Kashayams are called Arishtams and using boiled and cooled water or juice of herbs is called Asavams. 1. Abayarishtam 2. Amrutharishtam 3. Asokarishtam 4. Balarishtam 5. Dasamoolarishtam 6. Dasmoolajeerakam II. Asavams
1. Aravindasavam 2. Bhringarajasam 3. Chandanasavam 4. Kanakasavam 5. Kumaryasavam 6. Lohasavam etc. III. Oils 1. Amruthaadithailam. 2. Arimedhasthailam. 3. Brahmeethailam 4. Balaaguloochuaadithailam. 5. Dhwaantharam thailam 6. Eladi Thailam These are medicated oils. Decoction juice, milk etc. is added to oils like sesame oil, coconut oil or caster oil and is heated with powdered raw drug, until the water content evaporates completely. In this process, the medicinal extracts of the raw drugs make the oil medicated. IV. Kuzhambu These are only for external application, unique to Kerala. A mixture of sesame oil, ghee and castor oil, substitute oil base of medicines for external application. 1. Kottamchukkadi Kuzhambu 2. Panchasneham 3. Dhanwantharam Kuzhambu 4. Eladadi Kuzhambu 5. Kaarpasathyaadi Kuzhambu 6. Saharachari Kuzhambu
V Ghrutham Ghrutham are medicated preparations of ghee. Ghee is medicated by adding decoction, powder, juice etc. and is processed until the ghee becomes medicated add water freely. 1. Amrutharaasha Grutham 2. Brhmi ghrutham 3. Swaaraswatha ghrutham 4. Kalyanaka ghrutham 5. Triphala Grutham VI. Lehyams Lehyams are semi-solid preparation of drug, prepared with the addition of jiggery or sugar candy and boiled with the prescribed liquid and fine powder of drugs, until the correct constituency is obtained. 1. Agasthya Rasayana 2. Ajamamsa Rasayana 3. Chinchadhy Lehyams 4. Narasimha Rasayanam 5. Maanibhara Lehyams
VII. Tablets
1. Chandraprabha Gulika 2. Chukkumthippaladhy Gulika 3. Kankayanam Gulika 4. Karuttha Gulika 5. Dhanwantharam Gulika VIII. Avarthis Avarthis come under the category of medicated oil. Here the selected quantity of oil is being medicated by adding medicines repeatedly. The process of medication is repeated to 7, 14, 41, or 101 times. This enhances the potency of oil. 1. Dhwaantharam 21 Avarthis 2. Dhwaantharam 41 Avarthis 3. Dhwaantharam 101 Avarthis IX. Choornams Choornams are preparations made from dried medicines into powder form using heavy pulverizer. 1. Asthma Choornams 2. Elaadigana Choornams 3. Hinguvanchadi Choornams 4. Raasnadi Choornams 5. Thaaleespatradi Choornams X. Kasha yams Disintegrated drugs are concentrated and extracted into water. The drugs are boiled in water and are concentrated 1. PunarnnavadyKashayam 2. Naadi Kasha yams 3. Dhashamoola Kashayam 4. Balaageerakadhi Kashayam 5. Indukandham Kashayam XI. Kashaya Choornams 1. Amruthotharam Kashaya Choornams 2. Aaragwadham Kashaya Choornams 3. Balaguloochyaadi kashya Choornams 4. Dasamoolakaduthirayam kashya Choornams 5. Dhashamoola kashya Choornams 2. PATENTS- PROPRIETARY MEDICINES The important patents- proprietary medicines of Nagarjuna are: 1. Card stab Tablet Effective in hypertension due to any cause 2. Garson It is a strong anti-flatulent drug 3. Haematone Ideal medicine for splenetic and hepatic disorder 4. Halin Effective in common cold, nasal congestion and sinusitis 5. Nagarjuna Eladasamoola Lehyams For all kinds of cough, sore throat and dyspnoea 6. Neutral Tablets For gas trouble, indigestion etc. 7. Rheumat Balm External application in rheumatic pains 8. Smrithi Granules It improves the normal brain functions. Excellent in improving Memory, grasping power, intelligence thinking power especially in children. 9. Thaaleespatradi tablets Effective for cough, distaste, spruce and sore throat 10. Nagarjuna Honey Honey packed in small bottles for use in homes and with food
3. OTC (Over the Counter) Name | PACKING | Ayurvedic Tooth Powder | 50 g | Chyavanaprasam | 250,500g 1 kg | Dandruff Hair Oil | 100 ml | Digest Drops | 25 ml | Kerapookualadi Lehyams | 400 gm | Kids Oil | 100 ml | Nagarjuna Agmark Honey | 50,100,200,500 gm | Nagarjuna Ayurvedic Soap | 75,15 g | Nagarjuna Dahasamani | 50 g | Nagarjuna Snana Choornams | 50 g | Nagarjuna Thalipodi | 50 g | Neelibhringaadi Keram | 100 ml | Special Eladasamoola Lehyams (40 gm x 21) | 1 jar | Tusker Balm | 10 gm |
CHAPTER 4 DATA ANALYSIS AND INTERPRETATION
DATA ANALYSIS AND INTERPRETATION The study titled "A study on the satisfaction level of the customers of Nagarjuna Herbal Products Ltd, Thodupuzha" tries to evaluate the various factors which are affecting the level of satisfaction of the customer. Both primary data and secondary data are used in this study. The primary data is mainly collected through questionnaire.
Table 1 TABLE SHOWING THE USING EXPERIENCE OF THE RESPONDENTS Using period of the Customers | Number of respondents | Percentage of respondents | Below 3 years | 9 | 12 | 3-5 years | 17 | 23 | 5-8 years | 34 | 45 | Above 8 years | 15 | 20 | Total | 75 | 100 | Source: Primary Data
Analysis The above table reveals that out of 75 respondents 12% had using experience of below 3 years, 23% had an experience of between 3 to 5 years, 45% of the respondents had an experience of 5 to 8 years and 20% of respondents had an experience of above 8 years.
Chart 1 CHART SHOWING THE USING EXPERIENCE OF THE RESPONDENTS 0
10
20
30
40
50
Percentage of respondents
Percentage of
Respondents
12
23
45
20
Below 3
Years
3-5 years
5-8 years
Above 8
Years
Interpretation: Most of the respondents have using experience of 5 years and above; this shows the quality of products of the company.
Table 2 TABLE SHOWING THE FACTORS INFLUENCED THE RESPONDENT TO BE A CUSTOMER Factors | Number of respondents | Percentage of respondents | Quality of the product | 24 | 32 | Brand image | 13 | 17 | Customer Care | 16 | 21 | Reasonable Price | 22 | 30 | Total | 75 | 100 | Source: Primary data Analysis Out of 75 respondents 32 percentages of respondents are influenced by the quality of the product, 17 percentages of respondents are influenced by the brand image, 21 percentages of respondents are influenced by the Customer Care services provided by the company and 30% of respondents are influenced by the Reasonable Price of the products.
Chart 2 CHART SHOWING THE FACTORS INFLUENCED THE RESPONDENT TO BE A CUSTOMER
0
5
10
15
20
25
30
35
Quality of the
Product
Brand image
Customer
Care
Reasonable
Price
Percentage of
Respondents
Interpretation: The main feature which instigates them to be a customer is quality of product and reasonable price, this shows the company’s product has demand in market because of the high level of quality it has maintained and relationship with the customer is maintained by satisfying them by providing good products with reasonable price which motivates the customer use the company’s product.
Table 3 TABLE SHOWING THE OPINION OF THE RESPONDNET ABOUT THE QUALITY OF THE PRODUCTS Opinion of the respondent | Number of respondents | Percentage of respondents | Very good | 12 | 16 | Good | 47 | 63 | Fair | 16 | 21 | Poor | 0 | 0 | Total | 75 | 100 | Source: Primary Data Analysis The above table shows that 16% of the respondents think that the quality of the products of Nagarjuna is very good, 63% of respondents think that the quality of the product is good, 21% of the respondents think that the quality of the product is fair and no respondents think that the quality of the product is poor.
Chart 3 CHART SHOWING THE OPINION OF THE RESPONDENT ABOUT THE QUALITY OF THE PRODUCTS
Interpretation: Majority of the respondents have the opinion that the quality of the company’s product is good and up to the mark, as this is one of the factor which motivates them to be the customer as this leads to demand for product, more the demand more is the sales . Table 4 TABLE SHOWING THE OPINION OF THE RESPONDENT ABOUT THE PRICE OF THE PRODUCT Opinion of the respondent | Number of respondent | Percentage of Respondents | Very high | 4 | 5 | High | I5 | 24 | Moderate | 28 | 37 | Low | 25 | 34 | Total | 75 | 100 | Source: Primary Data Analysis The above table shows that out of 75 respondents 5% think that the price of the product are very high, 24% of the respondents think that the price are high, 37% think that the price are moderate and 34% think that the price are low.
Chart 4 CHART SHOWING THE OPINION OF THE RESPONDENT ABOUT THE PRICE OF THE PRODUCT Interpretation: Most of the respondents feel that the price of the company’s product is moderate. This motivates them to buy the product.
Table 5 TABLE SHOWING THE OPINION OF THE RESPONDENTS ABOUT THE PACKAGING OF THE PRODUCTS OF NAGARJUNA Opinion of the respondent | Number of respondent | Percentage of respondents | Very good | 7 | 9 | Good | 44 | 59 | Fair | 21 | 28 | Poor | 3 | 4 | Total | 75 | 100 | Source: Primary Data Analysis: The above table shows that 9% of the respondents have the opinion that the packaging of the products of Nagarjuna is very good, 59% of the respondents have the opinion that the packaging is good, 28% of the respondents have the opinion that the packaging is fair and 4% has the opinion that the packaging is poor.
Chart 5 CHART SHOWING THE OPINION OF THE RESPONDENTS ABOUT THE PACKAGING OF THE PRODUCTS OF NAGARJUNA
INTERPRETATION
The respondents feel that the packing of the company’s product is good, as this could also be one of the reasons why people get attracted to products and buys it.
Table 6 RESPONDENTS OPINION ABOUT THE CONDITION OF THE PRODUCT WHILE THEY RECEIVE THEM Opinion of the respondents | Number of respondents | Percentage of respondents | Very good | 5 | 6 | Good | 48 | 64 | Fair | 19 | 26 | Poor | 3 | 4 | Total | 75 | 100 | Source: primary data Analysis The above table shows that 6% respondents’ opinion about the Condition of the product while they receive them is very good. 64% of the respondents say that it is good, 26% of the respondents say that it is fair And 4% of the respondents say that it is poor while they receive the product.
Chart 6 RESPONDENTS OPINION ABOUT THE CONDITION OF THE PRODUCT WHILE THEY RECEIVE THEM Interpretation: The above Chart shows that 6% respondents’ opinion about the Condition of the product while they receive them is very good. 64% of the respondents say that it is good, 26% of the respondents say that it is fair And 4% of the respondents say that it is poor while they receive the product.
Table 7 TABLE SHOWING THE OPINION OF THE RESPONDNETS ABOUT THE AFTER-SALES SERVICE OF NAGARJUNA Opinion of the respondents | Number of respondents | Percentage of respondents | Excellent | 18 | 24 | Good | 33 | 44 | Fair | 19 | 25 | Poor | 5 | 7 | Total | 75 | 100 | Source: primary data Analysis The above table shows that 24% of the respondents has the opinion that the after sales service of Nagarjuna is excellent, 44% of the respondents has the opinion that the after sales services is good, 25% has the opinion that the after sales service is fair and 7% of the respondents has the opinion that the after sales service of Nagarjuna is poor. Chart 7 CHART SHOWING THE OPINION OF THE RESPONDENTS ABOUT THE AFTER-SALES SERVICE OF NAGARJUNA Interpretation: Most of the respondents feel that the company maintains well after sales service, this helps the company to get more customers and also retain existing ones.
Table 8 TABLE SHOWING THE OPINION OF THE RSPONDENTS ABOUT THE DISTRIBUTION SYSTEM OF NAGARJUNA Opinion of the respondents | Number of respondents | Percentage of respondents | Excellent | 9 | 12 | Good | 31 | 43 | Fair | 28 | 37 | Bad | 6 | 8 | Total | 75 | 100 | Source: Primary Data Analysis The above table shows that 12% of the respondents are having the opinion that the distribution system of Nagarjuna is excellent. 43% of the respondents are having the opinion that the distribution system is good, 37% of the respondents are having the opinion that the distribution system is fair and 8% having the opinion that the distribution system of Nagarjuna is bad. CHART 8 CHART SHOWING THE OPINION OF THE RSPONDENTS ABOUT THE DISTRIBUTION SYSTEM OF NAGARJUNA Interpretation Most of the respondents have the opinion that the company has good distribution system; this helps the company to satisfy the customers by proper supply of products in time and without damage. Table 9 RESPONDENTS OPINION ABOUT THE SOCIAL RESPONSIBILITY OF THE COMPANY Opinion of the respondents | Number of respondents | Percentage of respondents | Completely satisfied | 60 | 80 | Somewhat satisfied | 5 | 7 | Neither satisfied nor dissatisfied | 8 | 10 | Completely dissatisfied | 2 | 3 | Total | 75 | 100 | Source: Primary Data Analysis The above table shows that 11 % of the respondents are completely satisfied with the social responsibility of the company, 49% of the respondents are somewhat satisfied, 31% of the respondents are neither satisfied nor dissatisfied and 9% of the respondents are completely dissatisfied with the social responsibility of the company.
CHART 9 RESPONDENTS LEVEL OF SATISFACTION WITH THE SOCIAL RESPONSIBILITY OF THE COMPANY
Interpretation: Most of respondents are only somewhat satisfied, it may be because the company could not meet their expectation in this regards may be due to the company’s policy. .
Table 10 RESPONDENTS LEVEL OF SATISFACTION WITH THE PROMOTIONAL ACTIVITIES OF THE COMPANY Opinion of the respondents | Number of respondent | Percentage of the respondents | Satisfied | 52 | 69 | Not satisfied | 23 | 31 | Total | 75 | 100 | Source: Primary Data Analysis The above table shows that 69% of the respondents are satisfied with the promotional activities of the company and 31% of the respondents are not satisfied.
CHART 10 CHART SHOWING THE OPINION ABOUT THE PROMOTIONAL ACTIVITIES OF THE COMPANY
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Satisfied
Not satisfied
Not satisfied
Satisfied
Interpretation Most of the respondents are satisfied with the promotional activities of the company; they would have analyzed it with the help of the feedback and response they get from customers directly. Table 11 RESPONDENTS LEVEL OF SATISFACTION WITH THE DOCTORS SERVICE PROVIDED BY THE COMPANY Opinion of the respondents | Number of respondents | Percentage of respondents | Completely Satisfied | 11 | 15 | Somewhat satisfied | 31 | 41 | Neither satisfied or dissatisfied | 25 | 33 | Completely dissatisfied | 8 | 11 | Total | 75 | 100 | Source: Primary Data Analysis the above table shows that 15 % of the respondents are completely satisfied with the doctor’s service provided by the Company, 41% of the respondents are somewhat satisfied 33% of the re neither satisfied nor dissatisfied and 11% of the respondents dissatisfied with the doctors service provided by the company
CHART 11 RESPONDENTS LEVEL OF SATISFACTION WITH THE DOCTORS SERVICE PROVIDED BY THE COMPANY
Interpretation Most of the respondents satisfactory level does not seem to be high but again it’s something relating to the performance of the doctors, how effective they are towards their patients.
Table 12 RESPONDENTS OPINION ABOUT NEEDS OF IMOROVEMENT IN THE PRODUCTS OF THE COMPANY Opinion of the respondents | Number of respondents | Percentage of respondents | No | 58 | 77 | Yes | 17 | 23 | Total | 75 | 100 | Source: Primary Data Analysis The above table shows that 77% of the respondents are having the opinion that there is no need of improvement in the company’s products and 23% of the respondents having the opinion that there is a need of improvement in the company’s products.
CHART 12 RESPONDENTS OPINION ABOUT NEEDS OF IMOROVEMENT IN THE PRODUCTS OF THE COMPANY 0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
No
Yes
Not satisfied
Satisfied
Interpretation The above chart reveals that maximum of the respondents are having the opinion that there is no need of improvement in the company’s products. Table 13 TABLE SHOWING THE RESPONDENTS SATISFACTION LEVEL ABOUT THE CUSTOMER COMPLAINTS HANDLING OF THE COMPANY Opinion of the respondents | Number of respondents | Percentage of respondents | Excellent | 9 | 12 | Good | 42 | 56 | Fair | 18 | 24 | Poor | 6 | 8 | Total | 75 | 100 | Source: Primary Data Analysis The above table shows that 12% of the respondent’s opinion about the customer complaints handling of the company is excellent 56% of the respondents say that it is good, 24% of the respondents say that it is fair and 2% of the respondents opinion is poor.
CHART 13 CHART SHOWING THE RESPONDENTS SATISFACTION LEVEL ABOUT THE CUSTOMER COMPLAINTS HANDLING OF THE COMPANY
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Excellent
Good
Fair
Poor
Not satisfied
Satisfied
OUT
Interpretation The above chart shows maximum respondents are satisfied with the customer complaint handling, the company was successful in doing so mainly with the help of the feedback they get from its customers.
Table 14 RESPONDENTS OPINION ABOUT THE SIDE EFFECTS OF THE PRODUCTS OF THE COMPANY Opinion of the respondents | Number of respondents | Percentage of respondents | No | 69 | 92 | Yes | 6 | 8 | Total | 75 | 100 | Analysis The table shows that 92% of the respondents have the opinion that there is no side effect franchisee meeting of the products and 8% have the opinion that products is having some side effects.
CHART 14 RESPONDENT OPINION ABOUT THE SIDE EFFECTS OF THE COMPANY
Interpretations: The Chart shows that 92% of the respondents have the opinion that there is no side effect franchisee meeting of the products and 8% have the opinion that products is having some side effects. Table 15 TABLE SHOWING THE OPINION OF THE RESPONDENTS ABOUT THE SATISFACTION WITH NAGARJUNA Opinion of the respondents | Number of respondents | Percentage of respondents | Satisfied | 62 | 83 | Not satisfied | 13 | 17 | Total | 75 | 100 | Source: Primary Data Analysis The table shows that 83% of the respondents are satisfied with Nagarjuna and 13% of the respondents are not satisfied with Nagarjuna.
Chart 15 CHART SHOWING THE OPINION OF THE RESPONDENTS ABOUT THE SATISFACTION WITH NAGARJUNA Interpretation Most of the respondents are satisfied with Nagarjuna Company, due to various reasons the company provide good commission, resolve their problems in meetings, good profit margin, efficient distribution system etc. Table 16 TABLE SHOWING RESPONDENTS EXPECTATION FROM NAGARJUNA Opinion of the respondents | Number of respondents | Percentage of respondents | Extending customer satisfaction | 27 | 36 | Extending availability of products | 23 | 31 | Specialty advertising | 25 | 33 | Total | 75 | 100 | Source: Primary Data Analysis The table reveals that 36% of the respondents expect more profit Margin from Nagarjuna, 31% of the respondents expect more credit and 33% of the respondents expect specialty advertising.
CHART 16 CHART SHOWING THE RESPONDENTS EXPECTATION FROM NAGARJUNA
Interpretation: The table reveals that 36% of the respondents expect more profit Margin from Nagarjuna, 31% of the respondents expect more credit and 33% of the respondents expect specialty advertising.
CHAPTER 5
FINDINGS
CONCLUSIIONS
AND
RECOMMENDATIONS
5.1 Findings The data collected from the survey and sources of information of the researcher To make the following findings and conclusion. 1. Majority (45%) of the respondents has been the using experience Of Nagarjuna between 5 to 8 years. Majority (32%) of the respondents are influenced by the quality of the products to be a customer. Most of the respondents think that the quality of the products of
Nagarjuna is good. 2. Majority (32%) of the respondents are influenced by the quality of the products to be a customer. Most of the respondents think that the quality of the products of
Nagarjuna is good.
3. Most (63%) of the respondents feel that the quality of the product is moderate. 4. Most (39%) of the respondents feel that the price of the product is Moderate. 5. Most (59%) of the respondents feel that the packing of the product is good 6. Most (64%) of the respondents say that the condition of the product while they receive them is good. 7. Majority (44%) of the respondents feel that the after sales service of
Nagarjuna is good. 8. Most (43%) of the respondents feel that the distribution system of Nagarjuna is good 9. Completely satisfied (43%) of the respondent 's opinion about the social responsibility of the company 10. Satisfied (69%) of the respondent 's level of satisfaction with the promotional activities of the company 11. Majority (41%) of the respondents are somewhat satisfied with the doctor’s service provided by the company 12. Majority (77%) of the respondent 's opinion about no needs of improvement in product of the company.
14. Most (56%) of the respondents are satisfaction level about the customer complaint handling service is good 15. Majority (83%) of the respondents is satisfied with the services provided by Nagarjuna 16. Most (77%) of the respondents are excepting more customer satisfaction from the company. Customer satisfactions play an important role in the proper functioning of Nagarjuna because most of the sales turnover is derived from the customer. Customer satisfaction is affected by many inter-related factors, such as price, quality, social responsibility, after sales service, and: so on and so. It was revealed that from the analysis of data, 83 % of customer was satisfied and 17% of customer was not satisfied with Nagarjuna. 5.2 SUGGESTIONS 1. Keep the tradition and heredity of Ayurvedic and do not make any compromise with regard to the quality and validity of the product to attract the customers. 2. The company may also conduct medical and free checkup campaigns in important locations for popularizing the Nagarjuna Herbal products Ltd. During this campaign the company has to depute experienced doctors to meet the customers and explain the importance of medicines and ingredients. 5.3 CONCLUSION Nagarjuna Herbals Products Ltd an ISO 9001: 2000 certified company was establish in the year 1989 with the mission to contribute to Ayurvedic in a creative manner in Kerala and elsewhere. Within a short span of 16 years, Nagarjuna has become the second largest Ayurvedic .house in Kerala, with a turnover of 21crores and 80% of the sales turnover is; derived from this customer network which reveals the importance of network. Nagarjuna has a wide marketing network, which include over 850 retail outlets in Kerala and 1170 outlets outside the state. No manufacturers marketing program is complete if it lacks plans for securing and maintaining the cooperation of the distributive outlets. The fortunes of manufacturers rise and fall with those of their distributors and dealers. If distributors and dealers succeed in selling the product, the manufacturer also succeeds and if they fail, the manufacture fails. Most of the customer of Nagarjuna is satisfied with them and the well- structured organization also contributes to its success.
CHAPTER 6 APPENDICES AND ANNEXURES
1. QUESTIONNAIRE 2. A STUDY ON THE SATISFACTION LEVEL OF THE FRANCHISEES OF NAGARJUNA HERBAL PRODUCTS LTD; THODUPUZHA
1. How long you have been a customer of Nagarjuna? (i) Below 3 years (ii) 3 – 6 years (iii) 6 – 10 years (iv) above 10 years
2. Which factor influenced you to be the customer of Nagarjuna? (v) Quality (vi) Brand Image (vii) company support (viii) Good commission
3. What do you think about the price of the product of Nagarjuna? (ix) Very good (x) Good (xi) Fair (xii) Poor
4. What do you think about the quality of the product of Nagarjuna? (xiii) Very high (xiv) High (xv) Moderate (xvi) Low
5. What do you feel about the packing of the products of Nagarjuna? (xvii) Very good (xviii) Good (xix) Fair (xx) Bad
6. What is the condition of the product while you receive them? (xxi) Very Good (xxii) Good (xxiii) Fair (xxiv) Poor
7. What do you feel about the after sales service of Nagarjuna? (xxv) Excellent (xxvi) Good (xxvii) Fair (xxviii) Poor
8. What is your opinion about the distribution m of Nagarjuna? (xxix) Excellent (xxx) Good (xxxi) Fair (xxxii) Bad 9. Are you satisfied with the present customer care system of the company? (xxxiii) Yes (xxxiv) No 10. Are you satisfied with the social responsibilities of the company? (xxxv) Completely satisfied (xxxvi) Somewhat satisfied (xxxvii) Neither satisfied nor dissatisfied (xxxviii) Completely dissatisfied 11. What is the time gap between placing orders and receiving medicines? (xxxix) 2 days (xl) One week (xli) More than 1 week
12. Are you satisfied with the promotional activities of the company? (xlii) Yes (xliii) No
13. Are you satisfied with the doctor’s service provided by the company? (xliv) Completely satisfied (xlv) Somewhat satisfied (xlvi) Neither satisfied nor dissatisfied (xlvii) Completely dissatisfied
14. What is your opinion about the handling of customer complaints of Nagarjuna? (xlviii) Excellent (xlix) Good (l) Average (li) Bad
15. Are you completely satisfied with Nagarjuna? (lii) Yes (liii) No
16. What do you expect from Nagarjuna? (liv) Extended customer satisfaction (lv) Extending credit facility (lvi) Specialty advertising 17. Do you have any suggestions to improve the products, sales and services of Nagarjuna? ____________________________________________________________
____________________________________________________________
____________________________________________________________
_________ Age: Sex: Education: Income:
CHAPTER 7 BIBLIOGRAPHY
BIBLIOGRAPHY 1. Kothari C.R “Research Methodology”, New Delhi, Wiley Eastern Ltd. Second edition, 1990. pp 78 -90. 2. Kotler Philip Marketing Management, New Delhi, Prentice Hall of
India Pvt. Ltd, The millennium Edition, 2000.pp 38-43 3. Carl Me Daniel, Jr. Contemporary Marketing Research, New York,
West publishing company, Third Edition 1996. 4. From the brouchers of nagarjuna herbal ltd.
5. From the company LIBRARY
Bibliography: India Pvt. Ltd, The millennium Edition, 2000.pp 38-43
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