ANALYSIS OF INFLUENCE OF MARKETING ON SALE OF AYURVEDIC DRUGS

Abstract

In India, there are more than 700 Ayurvedic hospitals with more than 35,000 beds and 435,000 Ayurvedic physicians. This makes treatments and product prescriptions more readily accessible and widespread acceptance of Ayurveda. The retail value of the Ayurvedic products market in India is estimated to be around 1.2billion(2005figures)andisexpectedtoreach2.6 billion by 2012.

The products of Ayurvedic medicine were not produced commercially earlier. The physician himself used to find the raw material and prepare the medicine by himself or under his supervision. But, due to change in lifestyles, and scarcity of raw materials, the physician was unable to fulfill the rising demand. Thus, commercial production of Ayurvedic medicines started in recent decades.

As the Ayurvedic drug industry deals mainly with those of herbal, mineral, animal or their combination drugs, the quality of the raw material and in turn the quality of the products play a very important role in marketing when compared to the other three elements of marketing mix.

Thus, to determine the influence of marketing, its concepts on the sale of Ayurvedic drugs the study is undertaken.

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