MedoHealthy profile
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MedoHealthy is an e-commerce platform launched in 2016 that sells affordable healthcare products from top brands to customers across 19,000 pin codes in India. It aims to provide genuine products and care for customers. MedoHealthy currently offers over 250 products and plans to expand its product catalog, set up warehouses in major cities to reduce delivery times nationwide, and open retail outlets in smaller cities within the next two years.
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How to effectively start market research in the health tech industry by defining objectives, crafting problem statements, selecting methods, identifying data collection sources, and setting clear timelines. This guide covers all the preliminary steps needed to lay a strong foundation for your research.
This lays foundation of scoping research project what are the
Before embarking on a research project, especially one aimed at scoping and defining parameters like the one described for health tech IT, several crucial considerations should be addressed. Here’s a comprehensive guide covering key aspects to ensure a well-structured and successful research initiative:
1. Define Research Objectives and Scope
Clear Objectives: Define specific goals such as understanding market needs, identifying new opportunities, assessing risks, or refining pricing strategies.
Scope Definition: Clearly outline the boundaries of the research in terms of geographical focus, target demographics (e.g., age, socio-economic status), and industry sectors (e.g., healthcare IT).
3. Review Existing Literature and Resources
Literature Review: Conduct a thorough review of existing research, market reports, and relevant literature to build foundational knowledge.
Gap Analysis: Identify gaps in existing knowledge or areas where further exploration is needed.
4. Select Research Methodology and Tools
Methodological Approach: Choose appropriate research methods such as surveys, interviews, focus groups, or data analytics.
Tools and Resources: Select tools like Google Forms for surveys, analytics platforms (e.g., SimilarWeb, Statista), and expert consultations.
5. Ethical Considerations and Compliance
Ethical Approval: Ensure compliance with ethical guidelines for research involving human subjects.
Data Privacy: Implement measures to protect participant confidentiality and adhere to data protection regulations (e.g., GDPR, HIPAA).
6. Budget and Resource Allocation
Resource Planning: Allocate resources including time, budget, and personnel required for each phase of the research.
Contingency Planning: Anticipate and plan for unforeseen challenges or adjustments to the research plan.
7. Develop Research Instruments
Survey Design: Create well-structured surveys using tools like Google Forms to gather quantitative data.
Interview and Focus Group Guides: Prepare detailed scripts and discussion points for qualitative data collection.
8. Sampling Strategy
Sampling Design: Define the sampling frame, size, and method (e.g., random sampling, stratified sampling) to ensure representation of target demographics.
Participant Recruitment: Plan recruitment strategies to reach and engage the intended participant groups effectively.
9. Data Collection and Analysis Plan
Data Collection: Implement methods for data gathering, ensuring consistency and validity.
Analysis Techniques: Decide on analytical approaches (e.g., statistical
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MedoHealthy profile
- 2. About MedoHealthy 03 The Company’s Journey 04 Vision, Mission, & Company’s Value 05 Line of Business 06 Customer Reach 08 Present Facilities 09 Expansion Plan 10 Contents 2
- 3. About MedoHealthy MedoHealthy is a new initiative by Anchit Traders who are known for serving the customers with integrity and providing them highest satisfaction. MedoHealthy was founded by Akshit Mittal in 2016 with the moto #Becausewecare. Sensing the scarcity of affordable and genuine health, wellness and fitness products in India (majorly tier II and tier III cities), MedoHealthy.com offers online the myriad of healthcare products and services. Catering to approx. 19000 PIN codes across India, MedoHealthy.com is an E- Commerce retailing website with an aim to benefitting different segments of society. 3
- 4. July 2017 – Milestone of launching MedoHealthy with 250+ products of top brands achieved The Company’s Journey November 2016 – The scarcity of genuine and affordable healthcare products was felt by the founders and the need of such intiative was identified. December 2016 – Birth of the Idea “MEDOHEALTHY” to deliver health care products need to customers at their doorstep sitting in the farthest corner of India January – April 2017 – Market research of products and consumer needs successfully completed 4
- 5. Vision, Mission, & Company’s Values Vision To be the leading company providing genuine and affordable healthcare products in e - commerce sector. Mission • Care for the customers • Affordable prices • Reach to the farthest of corners in India. • Ethic business operation Values • Serving with integrity • Meeting Commitments • Genuity and honesty in work ethics 5
- 6. Line of Business Aggregators Medohealthy.com is an E-commerce (E-tailing) platform with the idea of selling all top brands in health, wellness and fitness under one roof at most affordable and genuine prices. All the products are procured either directly from the manufacturing units or from the authorized dealers appointed by those companies. Major Brands Associated: 1. Omron 2. Dr. Morepen 3. Tynor 4. Vissco 5. Friends ( Nobel Hygiene) 6
- 7. Line of Business 7 Marketers With the successful launch of “Safy Latex Examination gloves”, Medohealthy has recently added a new line of business of marketing high quality healthcare products under its own brand.
- 8. Customer Reach MedoHealthy is a brand owned by Anchit Traders. Anchit traders and associate companies have won the trust of more than 30,000 customers across India, and now with its Online platform “MedoHealthy.com”, we aim to multi fold this number maintaining the same trust and integrity. Currently “MedoHealthy" extends its services to approx. 19000 PIN codes across India. MedoHealthy is associated with big renowned courier partners Like Blue Dart, Fedex, IndiaPost, DTDC and Trackon. 8
- 9. Present Facilities • Cash on Delivery • 14 day return policy • Experts opinion on queries of health • Free Shipping • All major healthcare brands available • Delivering across 19,000 pin-codes PAN India 9
- 10. Expansion Plans • Increasing the portfolio of healthcare products from existing 250 to 450 products by end of December 2017. • Launch of 15 MedoHealthy branded products within 1 year • Setup local warehouses in 20 major cities to cut off delivery times across India within time span of 1 year. • Setup of affordable retail outlets in tier II and Tier III cities to ensure availability of healthcare products to the customers who cannot order online within 2 years 10