Innovation Report

cosmos REPORT ON DABUR CHYAWANPRASH GROUP MEMBERS LAVANIA SAJEED KHAN MUGWANEZA ELYSEE CONTENTS OExecutive summary OIntroduction O understructure establishment model Dabur as an mod merchandise Market overcharge OProduct features OConclusion OReference decision maker SUMMARY Dabur India Limited is the primary market influential in FMCG harvest-homes. umteen initiatives were taken by the company which includes reduction in price, reducing the match on environment, introduction of a new-fashioned increase and improvement of character which is making them a leader in the market.Dabur has positi matchlessd its products in the natural health category. To meet the fitness and individual grooming wishes of their customers with secure, effective and ordinary solutions, Dabur India Ltd has synthesized a profound information of Ayurveda and herbs with modern science. Dabur India Limited is the 4th largest FMCG Company in India with revenues of Rs. 4110 crores and is ranked among t he top 50 OTC(Over-the-Counter) Companies in the world. We see the diversification and magnification in their product segments under various brand name.It is trusted oecumenical and is the worlds foremost Natural Health C atomic number 18 and Ayurvedic Company. Dabur has been in the front position by establishing an alternate way of living by going beyond national boundaries and so they are marketing their products in many countries out stead India. Combining luxury, nutrition and wellness, the nutraceutical market is growing at a faster pace. Chyawanprash is make by victimization various herbs and is one of the products of Dabur India Ltd which is in great demand in the market. Herbal supplements were gaining popularity as rubber supplements.Thus, the concept of preventive care coupled with the rising use of herbals was a major reason for the relatively rapid growth of herbal medicinal drugs oer allopathic drugs. An other(a) major segment where herbal products outperformed al lopathic drugs was in the segment of lifestyle disorders. The increase in lifestyle disorders like diabetes,joint pain,stress caused individuals to make out herbal medicines, as these diseases were lifetime problems and using herbals in conjunction with allopathic products would reduce the allopathic dosold get along and thereby reduce the incidence of billet effects.A shift from prescribed medication to self-medication was a significant shift. As prescription products proved to be expensive, consumers started buying OTC products. Shlomo Maital, D. V. R. Seshadri,2007 Many products including Dabur Chyawanprash started visual aspect in OTC form,hence these products benefitted. Hence the products innovation is in using herbal supplements and dominating the market segment over other allopathic medicines. It has identified its market segments by implementing the market pull schema and thereby produces the products according to the changing require and preferences of the consumers. Example Chyawanprash which is for adults and Chyawanprash junior-grade which is for children. Chyawanprash Junior has various nutrients dominated for growing children and is present in polar flavours to displume that segment of the society. It typically uses product innovation where the company recognises up with innovative cling to added features like being sugar free to its existing product category to increase the demand and therefore to occupy the Number 1 position in the market. INTRODUCTIONDriven by a mickle to bring Ayurveda to society in a contemporary form, Dr. Burman founded the Dabur India Limited in 1884 by shoot foring to a large number of bulk who didnt befool access to proper cure hence he came up with the idea of Ayurvedic medicines to treat people in a natural way. His rigorous hardwork do the company grow from a small Ayurvedic pharmacy, to a well-established company which is a global leader in the market. Dabur India Ltd has effectively changed its pos ition from being a small seam to an efficiently managed venture.Their continuous innovation is the secret to their achiever and Dabur India Ltd retains the focus on quality and has an ISO 9002 certification. It has three major strategic byplay units (SBUs) which includes Consumer care division, Health care division and International business division. respective(a) PRODUCT unveilingS OF DABUR Launched Chyawanprash in tin pack-The ancient curative was in a packaged form and it dominated the market by being the great seller with a huge market share. Entered Oral Care segment- Introduced a herbal toothpowder which was called Lal Dant Manjan.It was well-packed and was made available to the masses at inexpensive prices. Launched Hajmola tablet- Used to control indigestion and became popular world wide and thereby came up with Hajmola tablets which are of different flavours.. Became successful by coming up with Real Fruit Juice- Real Fruit Juice was very much(prenominal) successfu l throughout India and hence accounted for volume of the companys share. First-ever online shop portal First-ever online shopping portal www. daburuveda. com-0 came into existence.Nutrigo-A new range of health supplements. why CHYAWANPRASH? -It is an authentic ayurvedic product,hence they do not make use of any chemicals. -No side effects. -Superior in quality. -Improves immune power and stamina. -Has a huge market share. INNOVATION The practical refinement and development of an original invention into a useable technique or product or a process in which creativity is applied to every facet of an organizations value chain, from beginning to end, to develop new and better ways of creating value for customers. Shlomo Maital and D. V. R. Seshadri. Chyawanprash is an representative of Product Innovation The development of new and improved product is called product innovation, so it is definitely a product innovation because it came up with new products which are first of its anatomy in the market with better product attributes. DABUR AS AN INNOVATIVE PRODUCT By expanding their presence through cause to be perceived innovations, managing costs efficiently and getting consumer insights, the company takes into consideration these opportunities very seriously to stay ahead in the market.Chyawanprash is a very slap-up illustration of product innovation because the original flavor of the product was the first of its large-hearted and shook the existing market with its innovative idea and superior quality. Innovation is enough increasingly important in attaining and main(prenominal)taining competitive advantage. ShlomoMaital,D. V. R. Seshadri subsequently it established a position for itself in the market, they came up with two different flavors like Mango and Orange.Chyawanprash targeted for children were known as Chyawanprash Junior with yummy coffee bean flavours that children would like and has all the nutrients that a growing child may require apart from the childs normal diet. Another product which was launched in the market was called Chyawanprash sugar free. As Dabur Ltd came up with new innovations, it was able to ply to the needs of various segments of the society and age group in cost of product attributes, affordable price and variety in flavours. MARKET except It is a strategy where the needs of the consumers are satisfied and one of the main motive of this strategy is to make profits.Since majority of the people these days are prone to various diseases due to unhealthy eating habits, the company espouse various techniques for manufacturing the product. Chyawanprash is sometimes given as a prescribed medicine by Doctors which boosts the energy levels and strengthens the immune system of the body. Hence it uses the market pull approach where it identifies the need in the market and manufactures its products accordingly. Understanding that a majority of the people have become health-conscious, age-old traditional practic es are mingle with science in making the product, thereby ensuring that there are no side-effects.Research was done and it was found that children are not really health-conscious and hence their main target segment was people above 30years of age. The R&D found out that small kids did not eat Chyawanprash until and unless they were given by force by their parents, hence they came up with fruit-flavoured Chyawanprash exclusively for children which were first of its kind in the market. INNOVATION MODEL ADOPTED BY DABUR CHYAWANPRASH SIMULTANEOUS conglutination MODEL Continuous innovation can be attributed to the companys success.After Chyawanprash became the leader in the market, the companys continuous R&D activities have helped in identifying the changing preferences and tastes of the consumers based on the demographic details of the consumer. Research was done and it was found that people belong to the age group 13-30 were not really health-conscious and hence they strategically d ivided their target segments into two groups and manufactured products to suit the needs of both these segments. 1. Dabur Chyawanprash Junior for children was made of various yummy flavors like Chocolate,Orange and Mango. 2.Dabur Chyawanprash for people above 30. It is very good for health as it contains anti-oxidants and hence it is a health supplement for people belonging to various age groups. GROWTH OF THE COMPANY IN new(prenominal) COUNTRIES Because of the brand loyalty that has been built over a long distributor point of time, the company has crossed the Indian boundaries and has established a foot-hold in places alfresco India. Daburs overseas product portfolio is specially made to suit the needs and aspirations of the consumers in the international markets spreading through the Middle East, North Africa, westmost Africa, Europe and South Asia.Dabur has a number of manufacturing facilities in International business as well. The company has its manufacturing facilities spr ead across the Asia & Africa with 8 being in India and 5 outside India. The company has a world-wide recognition. Dabur is on the verge of becoming a global market leader. PRODUCT FEATURES Made by using the age old approach of Ayurveda. Healthy and prescribed by Doctors. easy in different flavours. Protects from day to day ailments like cough and stale to lifestyle disorders. It is very good for health and hence recommended to all age groups because it contains anti-oxidants which helps to fight against diseases. CONCLUSION There is considerable increase in the gross sales of the company which means there is greater demand for the products in the market. Dabur has come up with various innovative products under various brand names for different product categories like food products, Health care products etcetera Dabur Chyawanprash contributes for the companys majority of the market share. Dabur with its various product features is in the fore-front and is able to keep customers l oyal to their brand.Its vision of being in the headland in the healthcare sector by providing remedies and care from head to domestic dog is now becoming a reality. Since the costs are affordable, people belonging to the lower strata of the society have started consuming Chyawanprash because of its added advantage. REFERENCES http//www. dabur. com/About%20Dabur www. thehindubusinessline. in-1 http//www. dabur. com/en/Investors1/Annual_reports/2010-11/Dabur-Annual-Report-2010-11. pdf http//www. dabur. com/Chyawan%20Junior -0 http//www. daburuveda. com -1 http//www. thehindubusinessline. in