§Dabur as an innovative product
Dabur India Limited is the primary market influential in FMCG products. Many initiatives were taken by the company which includes reduction in price, reducing the impact on environment, introduction of a new product and improvement of quality which is making them a leader in the market. Dabur has positioned 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 the top 50 OTC(Over-the-Counter) Companies in the world. We see the diversification and expansion in their product segments under various brand names. It is trusted worldwide and is the world’s foremost Natural Health Care and Ayurvedic Company. Dabur has been in the front position by establishing an alternate way of living by going beyond national boundaries and hence they are marketing their products in many countries outside India. Combining luxury, nutrition and wellness, the “nutraceutical market” is growing at a faster pace. Chyawanprash is made by using 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 preventive 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 medicines over allopathic drugs. Another major segment where herbal products outperformed allopathic drugs was in the segment of ‘lifestyle disorders’. The increase in lifestyle disorders like diabetes,joint pain,stress caused individuals to consider herbal medicines, as these diseases were lifetime problems and using herbals in conjunction with allopathic products would reduce the allopathic dosage and thereby reduce the incidence of side 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 appearing in OTC form,hence these products benefitted. Hence the product’s 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 strategy and thereby produces the products according to the changing needs and preferences of the consumers. Example: Chyawanprash which is for adults and Chyawanprash Junior which is for children. Chyawanprash Junior has various nutrients required for growing children and is present in different flavours to attract that segment of the society. It typically uses product innovation where the company comes up with innovative value 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.
Driven by a vision to bring Ayurveda to society in a contemporary form, Dr.Burman founded the Dabur India Limited in 1884 by targeting to a large number of people who didn’t have access to...