intro, background and conclusion for a case
garki.
Forus.pptxCrossing the Disruptive
Product Chasm
Once we are done choosing who is doing which parts, we can put out names in a right bottom foot header
Agenda
Background
SWOT
Issues & Recommendations, Rationale
Conclusion
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Background
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About Forus
In 2013, Forus managed to sell more than 100 of its patented 3nethra ophthal. “Nethra” means eye. The company’s literally means “3rd eye”
A quarter of its sales are exports and the rest are for hospitals and clinics in the domestic market
Wanted to speed up their process and make 300 units for the upcoming year
Wanted to keep their old customers but also seek new ones
Both founders, Chandrashekhar and Dr. Shyam Vasudev, were colleagues at Philips India Limited. They happened to listen to a presentation that resonated to them and from there they wanted to contribute to some health problems in India.
Both were experienced in technology and business
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Cont.
For the last 3 months that have been working hard to set up new sales team
Appointed a consultant to help them expand, added more employees, and added senior positions
80% of India’s 15 million blind people account for more than a quarter of the world’s population
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SWOT
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SWOT Analysis: Strengths
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3NETHRA
Patient conversion rate from 4 to 7
Doctors don’t need to be present at prescreening
Identification at early stages
Right problem diagnosis
Increase in patient footfall
3nethra pre-screen reporting brings additional income
SWOT Analysis: Weaknesses
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3nethra is not exposed to all possible users
FORUS is following a one-fits all approach
10% of application usage is OPD and diagnosis
Amortization expense increased from one year (Exhibit 1)
No research and development (Exhibit 1)
SWOT Analysis: Opportunities
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Rural market
Non- Ophthalmology has high potential for early screening and problems
Enhancer to the Government’s Blindness Prevention efforts
Have a GP Chain team instead of 1
SWOT Analysis: Threats
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Rural parts of India does not have a lot of eye care facility
Doctors have to be convince to do eye camps
Competing companies claim they have superior products
Product is viewed as an alternative not a necessity
Competitors might imitate the product and sell for a cheaper price
Issues, Recommendations,
and Rationale
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Issue 1: Maximize 3nethra Sales Volume Without Discouraging Product Adoption.
What type of sales strategy to take on?
Projected goal of 300 units sold by 2013/14, by March 2013 Forus sold 127 units putting them just under halfway to their sales goal.
How to position 3nethra to maximize sales to reach 300 by end of the calendar year?
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Recommendation / Rationale 1: Use an Undifferentiated Strategy with Small Hospitals and Clinics
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Positional 3nethra as a portable and easy to use in pre-screening eye camps
Allow more patients to be screened at camps
Showcase 3nethra’s automated “Normal” and “Need to See Doctor” features
Low-cost; decreases the need to purchase expensive fundus cameras
3nerthra could detect five major eye-related ailments
Recommendation / Rationale 2: Use a Single Segment Strategy for Larger Ophthalmology Hospitals
Specifically for eye related ailments
Highlight 3nethra’s imaging capabilities
Doctors will only need 3nertha and a slit lamp to get a clear picture of patient's eye
Not as many ophthalmologist have to go out to the field
Telemedicine connects patients to doctors
Allowed doctors to only see patients who needed immediate attention
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Issue 2: Maximize 3nethra Adoption
Focusing all efforts on the ophthalmology segment
Around 20,000 Ophthalmologists in India
4,000 work at ophthalmology hospitals (high-end diagnostic equipment)
8,000 work at small eye hospitals (out-patient department, limited in-patient)
3,000 work at private clinics
5,000 remaining at ophthalmology departments of general hospitals
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Recommendation : Restructure 3nethra brand as a pre-screening evaluation device
Avoid direct competition with higher-end technology that many ophthalmologists use for detailed, three-dimensional imaging
Focus on marketing product as a preliminary screening that the ophthalmologist does not have to perform
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Rationale :
Only an “also-have” rather than a “must-have” for diagnosis
Better and more detailed fundus cameras in the market
Save ophthalmologist time and have other hospital employees conduct 3nethra examination = efficiency, profitability and conversion
Large market opportunity within India and internationally
6 sales members increased to 15 by end of year
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Conclusion
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Conclusion
Position 3nethra with the emphasis on portability.
Requires no qualification to use
Focus the target market to ophthalmologists segment primarily as a prescreening device.
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Thank you for listening!
Questions?
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