Sanollo Provides a UK plc Market Entry into in the Indian Molecular Diagnostics Market
Client Background
A UK plc specialising in the design and manufacturing of molecular diagnostic solutions for reproductive health, precision medicine and infectious diseases, engaged Sanollo to assist in achieving their strategic healthcare expansion within the Indian market. Known for their premium products, the client sought to navigate the price-sensitive Indian market effectively.
Objectives
- Develop a strategic healthcare expansion plan to enter the Indian market while maintaining the premium positioning of the client's products.
- Identify and engage the best-fit distributors capable of reinforcing the client's brand through innovative sales and marketing activities, exceptional service and after-sales support.
- Reduce the client's uncertainty in new market expansion by providing comprehensive market insights and actionable recommendations.
Strategy and Execution
1. Market Analysis and Strategic Planning
Sanollo conducted a deep analysis of the Indian market, taking into account specific territory and sector dynamics. The analysis included:
- Regional Structures and Culture: Understanding the unique aspects of different regions within India to tailor the strategic healthcare expansion plan.
- Common Supply Channels and Decision-Making Processes: Mapping out how medical products typically move from manufacturers to end-users and identifying key decision-makers in the process.
- Competitor Activity: Analysing competitors' presence and strategies to identify opportunities for differentiation.
Using bespoke data analysis combined with the client's expertise, Sanollo delivered a strategic plan that included:
- Clear growth strategies for different regions.
- Detailed insights into budget and buying cycles of key hospital groups.
- A network of contacts among decision-makers in major corporate hospital groups such as Apollo, Fortis, Manipal and Columbia Asia.
2. Distributor Search and Selection
Sanollo worked with the client to create an ideal distributor profile. This involved identifying key characteristics and capabilities that distributors needed to possess to effectively represent the client's products. The process included:
- Scanning Sanollo’s Existing Network: Leveraging Sanollo's well-established relationships and network in the Indian market.
- Conducting Additional Research: Identifying new potential distributors who fit the distributor profile.
- Direct Engagement: Engaging with potential distributors to assess their business models, compatibility and interest in the client's products. This also included educating them on the value and differentiation of the client's solutions.
3. Handover and Coordination
Once suitable distributors had been identified and engaged, Sanollo executed a full handover to the client. This process included:
- Facilitating introductions and initial discussions to agree on joint marketing activities, sales targets, sales pipelines and after-sales support.
- Ensuring a smooth transition so that the client could build strong, direct relationships with the selected distributors.
Results and Impact
Streamlined Market Entry
Sanollo's strategic plan awarded the UK plc market entry into the Indian market by providing clear, actionable insights and a structured approach. This comprehensive strategy significantly reduced the uncertainty and risks associated with new market expansion.
Effective Distributor Partnerships
By identifying and engaging the right distributors, Sanollo ensured that the client's premium products would be represented by partners capable of reinforcing their brand through innovative sales and marketing activities, exceptional service and robust after-sales support.
Increased Probability of Success
Sanollo's involvement alleviated the client from the time-consuming and costly process of distributor engagement, allowing them to focus on core business activities. This strategic approach reduced the risk of selecting unsuitable distributors and increased the likelihood of successful market entry and distributor performance.
Conclusion
Sanollo's expertise and strategic approach enabled the UK plc to effectively navigate the complexities of the Indian market. Through meticulous market analysis, targeted distributor search and selection and seamless coordination, Sanollo ensured confident strategic healthcare expansion into the Indian market, paving the way for future success and growth in this high-opportunity region.