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Ayurvaid Founded by Rajiv Vasudevan

Essay by   •  December 12, 2018  •  Case Study  •  950 Words (4 Pages)  •  104 Views

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The given format is only for guidance and mainly for organizing and documenting your  thoughts and findings .You may have to revisit the listing couple of times.  

 

  1. Identify the issues/problems: Identify the type of case and the problem(s) or issue(s) contained therein. You will focus your analysis on them. 

The case study is about an Ayurvaidic hospital chain named as “AYURVAID” founded by Rajiv Vasudevan.Ayurvaid has been quite succesful in their venture with consistent growth in revenues and customer base.The type of case study observed here is “Illustrative case study”.Ayurvaid is doing pretty good in their segment by providing health care services to treat non-communicable diseases as well as chronic diseases. But the founder, Mr. Rajiv Vasudevan here is facing a dilemma, which id the problem or issue identified. He is required to make a strategic decision regarding the following issues: -

  • Whether AYURVAID should strength their position as a Multi-speciality hospital  or,
  • The should specialize in the treatment of Diabetes which is a growing market.
  • To identify what kind of issues they may have to face if they go for the second option being a late entrant.
  • Competition from big names.
  • The question of which route would be the most appropriate driver of growth.

  1. Recapitulate all Principles, frameworks or theories that can be applied to this case.  

Application of Blue Ocean strategy.Blue ocean strategy is a marketing concept the basic idea is that every market can maximize their profit by creating value and new demand in non competitive market.Following blue ocean frame work can be applied to the case:-

  • Creating uncontested market space.
  • Creating and capturing new demand.
  • Reach beyond existing demand.
  • Getting appropriate strategic sequence.
  • Overcoming organizational constraints.
  • Reconstruct market boundaries.

 

  1. List relevant qualitative data: Evidence related to or based on the quality or character of something of relevance mentioned in the case

Relevant qualitative data’s are:-

  • Ayurvaid provides treatment for Non-Communicable and Chronic diseases.
  • Ayurveda focuses on identifying the root cause of the disease and curing.
  • But compared to allopathic treatments Ayurveda has been considered as an secondary option.
  • AYURVAID hospitals cater to people with lifestyle diseases.
  • Currently Ayurvaid is functioning as a multi-speciality hospital.
  • India has got a growing market for the treatment of diabetes.
  • Ayurveda treatment was personalized and customized to individual patients’ requirements.
  • Diabetes treatment through Ayurvaid was considerably lower than Allopathy.
  • Ayurvaid business model concentrated on two distinct market segments based on the income levels of the patients.
  • Vasudevan has got an idea of how to manage social and revenue aspects of the business.

         

  1. List relevant quantitative data: Evidence related to or based on the quantity or number of something- even numbers derived based on conversations (tables are not essential) 

  • According to International Diabetes Federation 65.1 million people in India were diabetic (2013)
  • In 2010, 50.8 million people in India were diabetic.
  • Growth 2010 to 2013 is 2.096%.
  • Two third of health care market in country contributed to NCD and chronic diseases.
  • According to WHO fatalities due to CVDs were expected to rise by 36 percent by 2025.
  • Exhibit 2 indicates Diabetic patient has increased from 31.7 million to 109 million (2000 to 2035)
  • Exhibit 3 indicates more customers are satisfied by Ayurvaid treatment with a score of 4.16 against 3.16.
  • Cardiovascular disease has contributed to 29% death in 2005 ,which includes Diabetic persons also.

  1. List the results of your analysis: What are the interpretations that may be proposed based on the quantitative & qualitative data you have gathered.  
  • Th qualitative and quantitative data indicate that Diabetes treatment has got a growing market in India.
  • Ayurvaid has already established as a Diabetes specialist.
  • As per the reports of International Diabetes Federation, the number of Diabetes patients are likely to grow in the future.
  • Customers are satisfied with Ayurvaid’s treatment as compared to Allopathic counterparts.
  • Its good initiative by Ayurvaid to distinguish their target customers based on their income levels

6 Identify alternative courses of action: List and prioritize possible options based on your analysis (actionable items alone)

.  

  • Ayurveda has not yet emerged as a Comprehensive medical treatment. More awareness should be spread about Ayurveda and its benefits over allopathy.
  • Ayurvaid must take initiative in conducting awareness camps and campaigns.
  • If they are planning to specialise on Diabetes treatment, they need to conduct free medical check-up to their customers.
  • Adopting low cost service strategy in order to beat cut throat competition.
  • Diversifying the business Northern states.
  • Setting up their own Ayurvedic medicine outlets.
  • Expanding to a product brand apart from medical treatment services E.g.:-Dabur, Patanjali.

 

 

7 Select your preferred action plan: Recommend the way forward: it may have steps to be taken in the short term, medium term and long-term. 

SHORT TERM PLAN: -

  • Analyse the market for Diabetes treatment.
  • Make people aware about the benefits of Ayurveda.
  • Types of treatments available in Ayurveda.

MEDIUM TERM PLAN: -

  • Spread awareness among people regarding the adverse effect of Diabetes.
  • Indulge in Intense promotional activities to promote Ayurvaid as Diabetes treatment speciality hospital.
  • Benefits of ayurvedic treatment for Diabetes should be promoted.

LONG TERM PLAN:-

  • Mr Rajiv Vasudevan’s vision was to bring Ayurveda into the mainstream, by considering society as well.
  • Providing quality, appropriately priced treatment for patients.
  • Beat the competition.

NAME:- Paul Mechery.

Roll No:- b2166

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