1.00 Indian rupee ₹ How Consultancy can help Ayurvedic Products amid Pandemic? Mumbai

Published date: July 27, 2020
Views: 6
  • Location: Mumbai, Mumbai, Maharashtra, India

How Consultancy can help Ayurvedic Products amid Pandemic?
About Ayurveda-
Ayurveda is considered by many scholars to be the oldest healing science. In Sanskrit, Ayurveda means “The Science of Life.” Ayurvedic knowledge originated in India more than 5,000 years ago and is often called the “Mother of All Healing.” It stems from the ancient Vedic culture and was taught for many thousands of years in an oral tradition from accomplished masters to their disciples. Some of this knowledge was set to print a few thousand years ago, but much of it is inaccessible. The principles of many of the natural healing systems now familiar in the West have their roots in Ayurveda, including Homeopathy and Polarity Therapy. (BBGV27720)

More than a mere system of treating illness, Ayurveda is a science of life (Ayur = life, Veda = science or knowledge). It offers a body of wisdom designed to help people stay vital while realizing their full human potential. Providing guidelines on ideal daily and seasonal routines, diet, behaviour and the proper use of our senses, Ayurveda reminds us that health is the balanced and dynamic integration between our environment, body, mind, and spirit.
Ayurvedic Market in India-
The Ayurveda market in India was valued at INR 300 billion in 2018, and is expected to reach INR 710.87 billion by 2024, expanding at a compound annual growth rate (CAGR) of ~16.06%, during the forecast period (2019-2024).In 2018, around 75% of Indian households used ayurvedic products as against only 67% in 2015. Of late, manufacturers have been using herbal ingredients in the production of personal care products like lotions, oils and shampoos. Players in the food processing industry are also making use of herbal ingredients in manufacturing products like packaged juices and nutritional supplements.
Impact of Covid-19 pandemic on Ayurvedic Market-

• Market trend of ayurvedic products is decreasing.
• Quality of products has undergone distinguishable change.
• New comers use machines and modern technologies for production due to lack of proper knowledge and experience.
• Social media play a vital role on Ayurvedic product promotions.
• Now online marketing and stores support ayurvedic product sales, but compared to other products, the role of digital marketing is very low
• In spite of having diversified products, some part of Indian market is still untapped and market is price sensitive.
• Herbal products are high priced in big and metro cities, which are beyond, reach of people belonging middle and lower middle class.
• Ayurvedic producers have to compete on price, quality and delivery for different segments.
• There is poor promotion for Ayurvedic products in national market.
• There is lack of awareness about new traditions and among craftsmen and there is need of technological support and training.

How Consultancy can help in such situation?
After the coronavirus outbreak the government has constantly been creating awareness about how important it is to increase the immunity and consume hot drinks. The herbal or ayurvedic products like honey, herbal tea, etc are basically the best for improving the immunity. But the problem is, people are not really aware about this. So how can a consultancy help the ayurvedic products in such situation? The answer is by acting as an awareness platform for the ayurvedic products. The consultancy uses prospect marketing. In prospect marketing we focus only on those people who are potential or interested which reduces the cost required for marketing. The channels used by prospect marketing are digital channels like Facebook, LinkedIn, etc. The advantage of such channels are basically they are cost effective and requires very less resources. Prospect marketing will help Ayurvedic products to be marketed with low cost which will help in creating a revenue stream.
Contact Us:
Address: Unit No.450, Mastermind One - IT Park, Royal Palms, Aarey Colony, Goregaon (E), Mumbai, India 400065
Phone: +91 8097027355, +91 9137256150, +91 9222086563

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