The client was a leading Ayurvedic drugs manufacturer and was considering diversifying into healthcare services. The top management was evaluating setting up a chain of alternative and rejuvenation therapy centers in Mumbai. It therefore requested UC to prepare a business plan to assess the overall feasibility of the venture.
UC formed the business plan in the following steps:
- Studied global and Indian trends with regard to the growth of the healthcare industry, especially complementary and alternative medicine
- Conducted primary research in Mumbai and Chennai amongst competitors, customers and practitioners to understand customer needs, key buyer values and decision drivers for therapeutic and rejuvenation therapies to Identify strengths and weaknesses of key competitors
- Developed strategic options
- Shortlisted options based on positioning, consumer response, synergy with existing business etc.
- Defined business concept including the following -
- Core and support services
- Target market
- Defined strategic initiatives for the following focus areas -
- Brand and positioning
- Alliances with doctors and institutions
- Selection of location
- Marketing, endorsements, etc.
- Developed indicative financials, estimated payback period and defined a strategic roadmap for decision making
The client received a business plan with their defined concepts, strategic initiatives and a roadmap for decision making, among other important details.