An engineering major was evaluating opportunities in the hospitals sector

A Fortune 100 multi-product company, with a presence in more than a hundred countries, has a large product portfolio for the hospitals sector. They wanted to develop a strategy that would help them penetrate India’s growing hospital sector.

The company was unclear on how large their market was, and how best they should approach their customers – a problem that was worsened by the unorganized and fragmented hospital sector. Moreover, they didn’t have a good understanding of the hospitals’ needs and purchasing behaviour.

• Do needs and purchase patterns vary by public/private, specialized/multi-specialty hospitals?
• Do customers behave differently in regional markets across India? Or in Tier I, II and III cities?
• Which segments and geographies provide the most potential for their products and why?

Voice of Customer study established which market segments represented significant opportunities

ValueNotes designed a unique solution built on Voice of Customer, combined with competitor and market intelligence. We gathered customer intelligence on 66 product categories through in-depth face-to-face and telephonic interviews with >650 decision-makers in over 100 hospitals. Respondents included executives across hospital departments – engineering, maintenance, contractors, purchase, operations and finance. Our representative sample covered all hospitals by geography, size, type (by ownership as well as specialization), and by city sizes (Tier I, II & III). The interviews helped determine the current levels of automation and technology adoption in Indian hospitals, expenditure related to engineering and automation equipment, procurement processes, and the overall operational efficiency of these hospitals.

Customer intelligence helped the client develop an efficient strategy for increasing their market share in the hospitals segment

Our custom research methodology enabled ValueNotes to segment the market, determine market potential for each product in the client’s portfolio, as well as its market share. We also identified specific geographies and types of hospitals the client needed to target. Our report offered definitive answers on:

• Latent customer needs
• Customer segments to focus on
• Products to push within each segment by priority
• Hospitals’ preferences for owning and renting/leasing the products
• Key messages for pitching to the customers
• Key decision-makers and influencers within the segment
• Procurement processes by customer segment, their budget allocation – patterns & constraints, and their vendor selection processes

Our client used the research to develop a comprehensive go-to-market strategy to increase market share in hospitals.