This document outlines a market research and product proposal project for surgical heavy duty power tools in the Indian mass market. It will involve estimating the size and value of the mass market, segmenting customers, analyzing competitors, and determining a market entry proposal. Research methodology will include desk research, preliminary interviews, original surveys of 75 samples across 15 salespeople, and focus groups/interviews. The deliverables will include market metrics, identification of target customer needs and what features are most compelling, an appropriate price point and distribution channel. The goal is to develop insights to design a new Stryker product that meets customer needs and desires. The project timeline is also presented.

1. TARGET MARKET SEGMENTATION
AND
PRODUCT PROPOSAL
FOR
INDIAN MASS MARKET OF SURGICAL HEAVY DUTY
POWER TOOLS

2. THE PROBLEM
What does mass market for surgical power
tools in India look like?
Size of the Market
Market Growth
Spread
Who are the customers in the mass market
category and what do they want?
Need for features
Need for service
Price Sensitivity
Purchasing Method
Who are the competitors and what do they
offer?
Unique selling proposition
Price points and service offered

3. PROJECT OBJECTIVES
• Estimation of mass market size
and total value
Market
Estimate • Segmentation of customers
• Identification of competitors
• Determination of their
Competitor
Analysis competitive strengths
• Market entry proposal
• Product
Product • Positioning
Proposal

4. METHODOLOGY– MARKET
Consumer
Consumer A B C
Profile
Occupation
No. and Type
Customer of Surgeries
Presently
Using
Preferences
Customer A B C
Profile
Purchase
Distribution method
Brand
Affinity
Price
Sensitivity
Preferences
Manufacturer
Step 1. Market Map
(Methodology: Desk Research + Preliminary Interviews)

5. METHODOLOGY– CUSTOMERS
Consumer/Customer Understanding so far:
FORTIS, APOLLO,
WOCKHARDT
(>200 surgeries per month)
Step 2. Customer Segmentation
(Methodology: Original Research + Survey)

6. METHODOLOGY– SAMPLING
No of Samples = 5 Samples/Sales Person X 15 Sales Persons = 75 Samples
Error Rate – 9% (High!!)
Significance Error % - (Alpha) Value of t No. of Samples
20% 0.80 0.011 0.00005
30% 0.70 0.022 0.0002
40% 0.60 0.044 0.001
50% 0.50 0.089 0.008
60% 0.40 0.179 0.05
70% 0.30 0.358 0.36
80% 0.20 0.718 3
90% 0.10 1.441 52
91% 0.09 1.545 74
92% 0.08 1.656 107
93% 0.07 1.775 161
94% 0.06 1.903 252
95% 0.05 2.041 416
96% 0.04 2.188 748
97% 0.03 2.345 1528
98% 0.02 2.514 3952
99% 0.01 2.696 18167
Step 2. Customer Segmentation
(Methodology: Original Research + Survey)

7. METHODOLOGY– NEED GAP ANALYSIS
Survey Focus Group Interviews
Enter the market with…
Gap
Step 3. Need Gap Analysis Leading to Entry Proposal

8. DELIVERABLES
• Market metrics
• Market Size
• Market Composition
• Target Customer Needs
• Must-have‘s
• Nice-to-have‘s
• Need-not-bother‘s
• What is needed to do to make the most
compelling proposition to target customer
• Functional Features
• Price point
• Channel
• Insight into emotional benefits of new Stryker
Product

9. PROJECT TIMELINE

10. THANK YOU
CLEAR INNOLAB –MOHIT S ISHAR
(The University of Hong Kong)