Evolving Scenario In Indian Blood Transfusion Industry: Need for a Study on Re Look at Customer Perceptions and Marketing Strategies

Abstract

The purpose of the study is to assess the rapid strides that Blood Transfusion in India is going through currently. The resultant impact on the Industry catering to this sector, and the need for a re-look at the Marketing Strategies under the resulting customer perceptions. The study proposes to reassess these new market influencing factors from a customer perspective, their reach on the buying behaviour from the present, the potential impact on the industry stakeholders to their current marketing & promotional strategies and propose an alternate marketing strategy (if required) for the new market order. The object of this study was the data on blood collection and related industry post-2012 to date. The blood collection figures and the relevant industry, secondary data were assessed as were the various mergers and acquisitions that happened during the period and the new entrants into the market. The recent amendments in the Drugs & Cosmetics Act of 1940 which govern the Blood Transfusion in India were looked at as well. The resulting assessment is that there is a paradigm shift in the blood transfusion industry in India. There needs to be a reassessment as to the requirements of the benefits from a patient point of view, from a blood centre (customer point of view) and a realtime re-look at the current ways and methods to take the new technologies to the customer most efficiently and affordably.