Description

Indian Foreign Trade
April 2024 Examination
Scenario:
Indian Medical device manufacturing Start-up Company called Echoflix Inc. founded
by IITians, who developed their own technology to manufacture digital stethoscope,
which can be used for checking human heart beats and also it can be used to
check fetus heartbeats. This instrument is enabled with Bluetooth and they can transfer
the data of the patient to their mobile phone (They have developed their own App).
Echoflix Inc. has in their pipe-line portable ultra sound and also ECG with Bluetooth
enabled, also ready with prototype working models.
This company is looking forward to market their products domestically and they would
like to go for international markets also. As they will be entering the international for
the first time, they prefer to enter some of the countries in Africa like Kenya, South
Africa, in South Asian markets like Vietnam, Indonesia, Thailand and Malaysia.
Q1. You can take any one country from above mentioned countries; discuss how you
will move forward in finding market profile of identified market. You need to discuss
on regulatory requirements of the target market, with respect to electronic medical
device. How do you go about secondary market survey data collection discuss on major
non-tariff barrier and competition in the target market? (10 Marks)
Ans 1.
Introduction
Echoflix Inc., an innovative Indian medical device start-up established by IIT graduates, has
made significant strides in the medical technology sector with its development of a digital
stethoscope. This cutting-edge device, capable of monitoring human and fetal heartbeats,
distinguishes itself through Bluetooth connectivity, allowing for seamless data transfer to
smartphones via a proprietary app. With a pipeline featuring portable ultrasound and ECG
devices, Echoflix Inc. is poised to revolutionize the medical device industry. The company’s
ambition to expand its market reach both domestically and internationally, with a focus on
entering countries in Africa such as Kenya and South Africa, and South Asian markets
industry, marking a significant milestone in its growth trajectory.
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Q2. What is your suggestion to position the brand Echoflix Inc in target market, what
are the marketing activities you propose to conduct if you are in-charge of
International business with Echoflix Inc.? (10 Marks)
Ans 2.
Introduction
Echoflix Inc, a burgeoning player in the global market, stands on the precipice of
international acclaim, poised to etch its name among the leading brands in its sector. The
journey towards securing a dominant position in the target market necessitates a multifaceted
approach, blending innovative marketing strategies with a deep understanding of the cultural
and economic landscapes of these markets. As we embark on this ambitious endeavor, the
cornerstone of our strategy revolves around crafting a brand identity that resonates with our
target audience, fostering a sense of trust and loyalty that transcends geographical boundaries.
Q3a) You need to discuss what are the benefits Echoflix Inc. will get it from the Central
government announced PLI scheme for medical devices. (5 Marks)
Ans 3a.
Introduction
The Production Linked Incentive (PLI) scheme introduced by the Central Government
represents a transformative opportunity for companies operating within the medical devices
sector, including Echoflix Inc. This strategic initiative is designed to bolster manufacturing
capabilities, encourage investments in local production, and reduce dependency on imports.
For Echoflix Inc., a dynamic player in the medical devices industry, the PLI scheme opens a
b) What is your suggestion for Echoflix Inc. for market entry strategy in the target
market, briefly explain. (5 Marks)
Ans 3b.
Introduction
Entering a new market is a critical step for Echoflix Inc., requiring a well-structured strategy
that considers both the complexities of the target market and the company’s strengths. The
right market entry strategy can set the stage for sustainable growth, brand recognition, and
competitive advantage. It’s essential for Echoflix Inc. to choose a strategy that aligns with its
objectives, resources, and the specific characteristics of the medical devices sector. This