Marketing Mix of Collagen Patches for Advanced Wound Care
Product Features :
The product is a collagen patch uniquely designed to overcome barriers to wound closure. It also offers an optimal environment providing the required moisture for wound care in countries like India. Additional benefits include easy of application and comfort with antibacterial functions especially designed for wound care in developing nations where there could be hygiene issues and greater chances of getting infections in wounds.
The product is user friendly and so provides comfort and a cooling effect.
It can be worn for up to 6 days at a stretch suggesting that patients in lower income countries would have to invest in lesserpatches and will make lesser visits for dressing change.
With its ease of use, the collagen dressing can be applied by the patient himself. Additionally the patch has been designed to keep an optimal moisture level for the wound as per the humidity and temperature of areas in most parts of India and neighboring countries.
Each box of collagen pack would include three collagen patches each separately packed in plastic wrapping to prevent damage and moisture loss. The packing would have instructions for the user such as the product being for external use only, to use the product only once and on one person only and that the product should be kept in a dry place. Further instructions such as discontinuation of use if irritation or sensitivity to the product occurs would also be mentioned.
Pricing & Distribution:
Additional features of the marketing mix include the pricing and distribution of the product. The use of a local distributor is suggested as per the analysis of the advanced wound care market. Marketing penetration to reach the middle and lower income groups will be the pricing strategy especially as the product is made to target the Indian wound care market.
The initial promotional strategy would be in the form of introducing the collagen patch at a trade fair for doctors and other medical practitioners. Advertisements in medical journals and information about the product through in-bound marketing via blogs and online reviews will be the promotional strategy used.
Entry Strategy and choice of region for investment in India
With a massive population size and elevation of approximately 431 million Indians from poverty since 1985, the Indian market with the second largest workforce in the world offers not just incentives for production but also a market for potential investors. The expected size of the India health care market is $280 billion as predicted for 2020 which suggests that it is a potentially attractive market for multinationals. For evaluating an entry strategy it is important to consider the regional differences in India. For instance, Northern India is the manufacturing hub of the country which has attracted major investors like many Fortune 500 firms, heavy and light industries and Japanese leather and textile manufacturers. Cities like Delhi, Jaipur and Agra fall in this region.
Eastern India with cities like Kolkata has attracted heavy engineering, automobile and IT industries. This area with its rich natural resources and comparatively low land and price will also offer low cost human resources.
The Western region with cities like Mumbai, Surat and Pune is the region where industries including pharmaceuticals, petrochemicals, chemicals and fertilizers are enjoying high Government incentives and there is the rise of emerging software development. These areas have a diverse economic and social environment suggesting that this would be our area of focus. The Southern region with cities like Chennai is a hub for automotive, textiles, food processing and agriculture……………………..
This is just a sample partial work. Please place the order on the website to get your own originally done case solution