MM 2 Presentation

Porter’s 5 Forces

To analyze the competitive environment we have used the porters 5 force framework.

Here we have analysed weather the barrier is high or low and then come up with ways to face the
limitations.

1. Barrier to New Entry

Low
As a lot of innovation and heavy investments in R&D will be required to replace this product
and technology. Also, not only technical but development in terms of skills and abilities, ie
capacity building would be required for a company if it wants to replace the Exoskeleton.

2. Power of Buyers
High, as we are focusing on niche segment so the customer base would be relatively small.
Secondly, there are other substitutes available in the market, such as walker, wheelchair,
etc. and these are cost effective too as compared to the exoskeleton.

We will overcome this through continuous innovation to retain the existing customers and
using our USP of recovering customers and low assistance to attract the new customers.

3. Threat of Substitutes
High, as there a lot of options available such as walker and wheelchair. Switching cost of
customers is low (effort, time)
So, by Adopting service oriented approach, Focus on core need of customers to customize
the product accordingly.

4. Power of Suppliers
Having efficient supply chain with multiple suppliers and having dedicated suppliers whose
businesses depend upon the firm.
Experimenting with product design using different materials to find the most cost effective
option

5. Competitive Rivalry
Low, we couldn’t find any competing brand in India which makes exoskeletons.
but if one comes up, we can cobat it through Sustainable differenciation and Colllaborating
with competitors
Marketing St

Now that we have analyzed the product, this is how we will be marketing our product in the Indian
Market:

1. Advertissement:
Since this is a new technology, we will need to advertise it heavily.
We can show our product in various trade shows as tech expo.
We will leverage print media to reach large masses- this can be done though distributing
leaflets outside hospitals and advertising our product in the newspapers.
Next, we will be using social media marketing to again reach large group of audience.
Influencer marketing can be used where we will reach out to people who have faced injuries
in the past or celebs who are specially abled since birth. And then we can market our
product through them.
Lastly, since we are collaborating with hospitals, we can get their database and then use
email marketing to reach out to potential customers.

2. Campaign:
Campaigns are a great way to reach out to the niche group of people who can be our
potential customers. For example the third week of September is National Rehabilitation
Week so we can conduct camps with collaboration with hospitals and rehab centers during
this week.
During these campaigns we will provide our product to certain people to try out and then
they can share their experiences to the people.

3. Offers:
Since the product is placed at 5lakh, it is on a higher side for the Indian audience. So cost
might be a discouraging point for certain customers. So for that we can provide an option to
lease for people who have minor injuries which can be overcomed in short time. The plan
that we have designed is 15% security deposit with 1% ie 5000rupee charges per month.

Also, we will be having AMC plan for the customers, which will be renewed semi-annually.
We can provide benefits such as free maintenance, discounts in hospitals where we have tie
ups, etc.