Defining Product and Marketing Strategy for a Leading Ayurveda Player in Urban and Semi-Urban Market

Challenge

The client, a highly reputed Ayurveda player, manufacturing classical Ayurvedic medicines, wanted to set up a plant for manufacturing proprietary and patented medicines to protect its leadership position, and to increase its nationwide presence. The client requested UC to assist in the evaluations of

  • The potential of entering the over the counter (OTC) market
  • The feasibility of manufacturing the set of 85 products in the new plant
  • Strategies to increase sales of the existing classical products and identify application industries for extracts in India, and overseas

Our Approach

To undertake the assessment of the OTC market and define a growth strategy, UC adopted the following approach:

  • Conducted primary research in 18 locations, and held discussions with ~ 500 respondents across different respondent groups i.e. doctors, channel members (distributors, CFAs, pharmacies), competitors, FMCG companies, regulators and extract manufacturers
  • Defined a methodology for selection of proprietary and patented medicines based on market attractiveness and technical analysis of proposed products
  • Defined a phased strategy for launch of proprietary and patented medicines and defined action points at each stage of product development
  • Mapped product characteristics with existing products in the market and defined the positioning strategy
  • Defined pricing strategy for proprietary and patented and classical set of products
  • Analysed existing distribution network for proprietary, patented and classical set of products and recommended distinct strategies for the same
  • Identified issues with existing channel policies and defined initiatives in areas of margins, door delivery policies and credit policy
  • Defined a marketing organisation structure along with marketing and promotions strategy (pull and push) for influencers, channel partners and customers
  • Defined a roll out plan and prepared a detailed implementation plan to assist top management and key personnel during the implementation phase

Impact

UC delivered a robust product and market strategy with respect to product features, price, positioning, distribution network, channel policies, marketing and promotion initiatives. An implementation plan with expected topline benefits was also outlined.