Harvard Case - Sarva Pharmaceuticals: International Expansion to Myanmar
"Sarva Pharmaceuticals: International Expansion to Myanmar" Harvard business case study is written by Sandeep Puri, Sven Dahms, Shraddha Puri, Ritvik Nalamothu. It deals with the challenges in the field of Marketing. The case study is 8 page(s) long and it was first published on : Mar 17, 2020
At Fern Fort University, we recommend Sarva Pharmaceuticals pursue a phased approach to entering the Myanmar market, prioritizing the launch of essential generic medicines with a focus on affordability and accessibility. This strategy should leverage a strong digital marketing presence alongside traditional channels, emphasizing brand building through corporate social responsibility initiatives and partnerships with local healthcare providers.
2. Background
Sarva Pharmaceuticals, a leading Indian pharmaceutical company, is considering expanding into Myanmar, a rapidly growing market with a significant unmet need for affordable healthcare. The company faces several challenges, including a complex regulatory environment, limited infrastructure, and a competitive landscape dominated by international players.
The case study focuses on Mr. Sharma, Sarva's CEO, who is tasked with developing a strategic approach to entering the Myanmar market. He must consider the company's strengths, including its strong brand reputation, manufacturing capabilities, and expertise in generic drug production. However, he also needs to address the risks associated with entering a new and challenging market.
3. Analysis of the Case Study
To analyze Sarva's potential entry into Myanmar, we utilize a combination of frameworks:
1. SWOT Analysis:
- Strengths: Strong brand reputation, established manufacturing capabilities, expertise in generic drug production, cost-effective operations.
- Weaknesses: Lack of experience in emerging markets, limited understanding of Myanmar's healthcare system, potential challenges in navigating regulatory complexities.
- Opportunities: Growing demand for affordable healthcare, increasing disposable income, potential for partnerships with local healthcare providers.
- Threats: Competition from established international players, potential political instability, regulatory uncertainties, infrastructure limitations.
2. PESTEL Analysis:
- Political: Myanmar's political landscape is undergoing significant changes, presenting both opportunities and risks.
- Economic: The country's economy is growing rapidly, with increasing disposable income and a growing middle class.
- Social: A large population with a growing need for healthcare, particularly for essential medicines.
- Technological: Limited access to advanced technology and infrastructure, but potential for leveraging digital marketing and mobile technology.
- Environmental: Limited environmental regulations, but a growing awareness of sustainability issues.
- Legal: Complex regulatory environment, with strict requirements for drug registration and distribution.
3. Market Segmentation, Targeting, and Positioning:
- Segmentation: Sarva should target different segments within the Myanmar market, including:
- Low-income patients: Focus on essential generic medicines with affordable pricing.
- Middle-income patients: Offer a wider range of products, including branded generics.
- Hospitals and clinics: Build partnerships to ensure product availability and access.
- Targeting: Sarva should prioritize its marketing efforts towards target segments through a mix of traditional and digital channels.
- Positioning: Sarva should position itself as a reliable provider of high-quality, affordable medicines, emphasizing its commitment to improving healthcare accessibility in Myanmar.
4. Recommendations
Sarva Pharmaceuticals should adopt a phased approach to entering the Myanmar market:
Phase 1: Market Entry and Product Launch (Year 1)
- Product Selection: Focus on launching a limited range of essential generic medicines with high demand and proven efficacy.
- Pricing Strategy: Offer competitive pricing strategies to ensure affordability and accessibility.
- Distribution Channels: Establish partnerships with local distributors and pharmacies to ensure widespread product availability.
- Marketing Strategy: Focus on building brand awareness through a mix of digital marketing, social media campaigns, and collaborations with local healthcare providers.
- Regulatory Compliance: Ensure full compliance with Myanmar's stringent regulatory requirements.
Phase 2: Market Expansion and Brand Building (Year 2-3)
- Product Expansion: Gradually expand the product portfolio to include a wider range of generic medicines.
- Brand Building: Develop a strong brand identity through targeted marketing campaigns, corporate social responsibility initiatives, and community outreach programs.
- Customer Relationship Management: Implement CRM systems to build customer loyalty and gather valuable insights.
- Technological Adoption: Leverage digital marketing tools and mobile technology to reach a wider audience and enhance customer engagement.
Phase 3: Sustainable Growth and Innovation (Year 4 onwards)
- Innovation and Product Development: Invest in research and development to introduce new products and formulations tailored to the specific needs of the Myanmar market.
- Strategic Partnerships: Explore strategic partnerships with local healthcare providers, pharmaceutical companies, and government agencies.
- Corporate Social Responsibility: Integrate corporate social responsibility into the company's operations, focusing on initiatives that improve healthcare access and community well-being.
- Long-Term Sustainability: Establish a sustainable business model that ensures long-term growth and profitability while contributing to the development of Myanmar's healthcare system.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: Sarva's expertise in generic drug production aligns with the need for affordable healthcare in Myanmar. The company's commitment to quality and affordability is central to its mission and resonates with the target market.
- External Customers and Internal Clients: The recommendations prioritize the needs of both patients and healthcare providers, ensuring access to essential medicines and supporting the development of a robust healthcare system.
- Competitors: The recommendations address the competitive landscape by focusing on differentiation through affordability, accessibility, and strong brand building.
- Attractiveness ' Quantitative Measures: While the case study does not provide specific financial data, the recommendations prioritize a phased approach, minimizing risk and maximizing return on investment.
6. Conclusion
Sarva Pharmaceuticals has a strong opportunity to succeed in the Myanmar market by focusing on affordability, accessibility, and building a strong brand presence. By adopting a phased approach, leveraging digital marketing, and prioritizing corporate social responsibility, Sarva can establish itself as a trusted and reliable provider of essential medicines, contributing to the development of a healthier and more prosperous Myanmar.
7. Discussion
Alternatives:
- Immediate full-scale entry: This approach carries higher risk but could potentially lead to faster market penetration.
- Joint venture with a local partner: This could provide access to local expertise and networks but might limit control over operations.
Risks and Key Assumptions:
- Political instability: Myanmar's political landscape is volatile, and any changes could impact business operations.
- Regulatory challenges: The regulatory environment is complex and subject to change, requiring constant monitoring and adaptation.
- Infrastructure limitations: Limited infrastructure could pose challenges for distribution and logistics.
- Competition: Established international players pose significant competition, requiring a strong differentiation strategy.
Options Grid:
| Option | Advantages | Disadvantages | Risk |
|---|---|---|---|
| Phased approach | Lower risk, gradual investment, flexibility to adapt | Slower market penetration | Political instability, regulatory changes |
| Immediate full-scale entry | Faster market penetration, potential for higher market share | Higher risk, significant investment, potential for losses | Political instability, regulatory changes, competition |
| Joint venture with a local partner | Access to local expertise and networks, reduced risk | Limited control over operations, potential for conflicts | Cultural differences, lack of trust |
8. Next Steps
Timeline:
- Year 1: Conduct thorough market research, finalize product selection, secure regulatory approvals, establish distribution channels, launch initial marketing campaigns.
- Year 2-3: Expand product portfolio, build brand awareness through targeted marketing and CSR initiatives, implement CRM systems, explore strategic partnerships.
- Year 4 onwards: Invest in innovation and product development, focus on long-term sustainability, expand into new segments, and explore opportunities for regional expansion.
Key Milestones:
- Q1 2024: Complete market research and finalize product selection.
- Q2 2024: Secure regulatory approvals and establish distribution partnerships.
- Q3 2024: Launch initial product line and marketing campaigns.
- Q4 2024: Monitor market performance and adjust strategies as needed.
By following these recommendations and meticulously executing the outlined steps, Sarva Pharmaceuticals has a strong chance to achieve its international expansion goals in Myanmar, contributing to the improvement of healthcare access and the overall well-being of the country's population.
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Case Description
In 2019, the managing director of Sarva Pharmaceuticals Private Limited, a pharmaceutical company based in India, was considering an expansion of his company by entering the growing pharmaceutical market in Myanmar. He needed to identify the best way to execute this expansion plan, assess whether his company's product range was adequate and suitable for the Myanmar market, prepare for possible risks and cross-cultural marketing issues, and plan the management staffing approaches in Myanmar.
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