Goafest 2018: Baba Ramdev vows to make Patanjali a global brand
The yoga guru spoke about how Patanjali has developed a Rs 50,000-crore empire by working on principles that place customers over profit
Yoga guru Baba Ramdev’s session on the inaugural day of Goafest 2018 was not only a discussion about brand building but also an inspiration marathon. He spoke about how Patanjali has developed a Rs 50,000-crore empire by working on principles that place customers over profit.
Speaking about the essentials of brand building, Baba Ramdev said, “Risk aversion is one of the biggest limitations of success. I believe in giving my 100 per cent to any undertaking that is worth the effort. I believe brands are built on trust, uniqueness of the product, and most importantly, placing people over profits.”
Baba Ramdev once again targeted multi-national companies for their “misleading” advertising and "exorbitant" profit margins. “I have consulted many advertising and media agencies and they gave me budgets ranging from Rs 5 crore to Rs 15 crore for a single ad spot, which we, at Patanjali, do in Rs 20,000. To build a brand of Rs 500 crore, most advertising experts will tell you to spend Rs 100 crore on advertising. But we at Patanjali have built a product worth Rs 500 crore with just Rs 10 crore marketing spend. By next year, we will become the biggest brand in India in terms of annual turnover,” he said.
Baba Ramdev hinted at foraying into new sectors such as fabrics, packaged water and dairy products. He also spoke about making Patanjali a global brand in the time to come. “We are looking at international destinations like Nepal (we have a factory there), Bangladesh and Africa. The only difference between Patanjali and other MNCs is that we will not make profit from countries that are already poor, unlike other MNCs which are anti-poor.”
Touching upon the subject of fake news which is making headlines after the Information & Broadcasting Ministry issued an order to curb fake news (which was later retracted), Baba Ramdev said, "The government pulled out of the fake news controversy with great difficultly. The credit definitely goes to the Prime Minister for ensuring that the order was withdrawn."
When asked which brand would he like to endorse apart from Patanjali, he said, "I will endorse any Indian brand that gives 50% of its profits to charity. However, the brands should not be of tobacco, alcohol and cigarettes.
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