Vision Statement :

• India needs to be the preferred source of reliable high quality medical devices,reasonably priced

• Italian quality at CHINESE prices

Today’s Situation :

• Currently India is viewed as a source of low cost medical devices

• Expectation of quality is not high

• Bottom end of the quality:value chain

• Low cost alternative to Chinese ,Korean products

How Did We Get Here? :

• Historically,India was a major importer of medical devices

• Nil or very low import duties - a favorable situation for trading not industrialization

• Industry was dominated by SSI units with limited resources and low cost indigenous technology

Currently…….

• Advanced imported technology.

• Investment in midsize units in10-50cr.Band.

• Indian plants competed favorably with international brands.

• Import substitution and non price competitiveness achieved.

• Favorable climate for foreign investors and MNC’s.

Recommendation

Invest in :

• Quality

• Technology

• Packaging

• Exhibition

• Aim for non price competitiveness

Plan To:

• Study markets and segment them

• Do a SWOT analysis

• Define competitive advantage

• Define marketing plan and pricing policy

• Avoid pitfalls

What Strategy Should India Apply For Success In The Global Market?

Understanding Markets by Segments

• Geographical,by regions
• Purchasing power
• Quality consciousness
• Price consciousness
• Economic status

SWOT Analysis

• Strengths
• Weakness
• Opportunities
• Threats

Defining Competitive Advantage

• KFS for the market segment
• KFS for your product
• Review if common
• Relative advantage vs. Competitors in meeting defined markets KFS

Define Market Plan and Pricing Policy

• Pricing-same or different?
• Payment terms
• Sales channels
• Branding