Doing a wrong market research could be lethal and can harm not only your business but the reputation and can cause face legal consequences… This classic case study will help you to avoid mistakes we had to rectify to take this firm out of the problem. Glad our expertise is at your service…
This case study is from India….
In the last summer, we had a guest without an appointment. Usually our norms are set and we don’t allow anyone to visit us without an appointment. We have a unique operational management where we talk to the prospective client on the phone before the personal visit. It allows us to understand the issue in the first hand and helps us to know whether we can help in solving the.
The person entered the office represented a small pharmaceutical distributor firm and wanted our immediate help in his business. We are helping pharmaceutical companies since last two decades with our 52 expert strategy consultants spread in major nations worldwide. Our solutions were very helping our clients to get rid of the issue and achieve success.
It was an unusual experience for us to attend a person like this, but we could sense the seriousness of the issue on his face so we let me come and speak to us. The guy was in trouble as he has signed a contract with a large pharma company as a distributor and had promised a good amount of sales per year. According to the contract this large pharma company has shipped its first lot of consignment.
And he realized from his sources that the products he wanted to sell in his region have been changed its legality by FDA. The products were banned from selling at retail stores and were stopped from being promoted on any media. His entire sales strategy collapsed in a day when this announcement was made. His entire planning of yearly sales was no more a reality. And he not only could have lost the contract but had to face legal consequences.
Usually in such cases we talk to experts from the respective field, so we conducted a small qualitative survey to understand the ramification of the cause of legal amendments. We also conducted a survey to identify what strategic steps competitors are taking who are selling the products from similar category. This helped us to understand what counter measures we can think of for making sales of these products.
Our discussions could give us an idea that the issue was with the channel of sales he was planning to sale the products and we could have a face save if we could use another channel of sales. Accordingly we planned a strategy and again conducted a survey to understand the loop-holes in the plan and rectified them. Following this we did a pilot launch in some cities where we could see the similar products are sold and see how the response is coming.
Our strategy and consulting plan did work for the client and he could sale his shipments. Next we discuss with the large company with whom he had signed a contract to give an idea about legal amendments and help client to get a way out of the contract.
As said in a fairy tale then they lived ever happily!!!
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