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India Inc.-Strategies for Global Marketing of Medical Devices

Mr. RAJIV NATH, Jt.Managing Director
Hindustan Syringes and Medical Devices Ltd, New Delhi

Vision Statement :

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

  • Italian quality at CHINESE prices

Todayís 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

CurrentlyÖÖ.

  • 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 MNCís.

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?

Basic Strategy:

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

Pitfalls to Avoid

  • Do not promote products in non matching segments
  • Donít give prices to all
  • Donít compromise on quality
  • Donít under price your product

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