HEALTHCARE MARKET MAPPING FOR A HOSPITAL IN SALEM

Client

The client had plans to set up a pharmacy chain in Salem, aimed at enhancing accessibility to healthcare products for the local population.

Overview

The objective of the study was to conduct a comprehensive healthcare market mapping in Salem to identify potential locations for the establishment of the pharmacy chain. The study encompassed mapping clinics, hospitals, labs & diagnostic centers, and pharmacies across various areas in Salem.

Approach

To achieve the objectives of the study, we devised a research methodology tailored for location analysis and product launch strategy:

• Location Analysis: We conducted a detailed assessment of different areas within Salem, considering factors such as population density, demographic profiles, proximity to existing healthcare facilities, and accessibility.
• Concept Evaluation: Each potential location was evaluated sequentially to assess its suitability for hosting a pharmacy chain. Factors such as foot traffic, visibility, competition, and infrastructure were considered during the evaluation process.
• Product Launch Strategy: Based on the location analysis and concept evaluations, we developed a product launch strategy that aligned with the client’s objectives and market dynamics.

 Outcome

The study yielded valuable insights and outcomes:

• Location Analysis & Evaluation: Potential areas within Salem were identified based on their strategic importance, population demographics, and healthcare infrastructure. These areas were prioritized for further consideration in the pharmacy chain expansion plans. Each potential location underwent rigorous evaluation to determine its viability and potential for success. Factors such as market demand, competitive landscape, and operational feasibility were assessed to make informed decisions.
• Competition: The study identified key players in the pharmaceutical and healthcare sector operating within Salem. Understanding the competitive landscape enabled the client to develop strategies to differentiate their offerings and gain a competitive edge.
• Driving Factors: Key driving factors influencing the success of the pharmacy chain, such as convenience, affordability, quality of service, and product range, were identified and incorporated into the product launch strategy.