Research Projects

Research projects

A Study of the Market Dynamics of Radio Pharmaceutical products

(A funded Research Project)

conducted by

D. Y. Patil Deemed to be University School of Management CBD Belapur, Navi Mumbai (DYPUSM).

­­­­­­­­­­­­­­Introduction

For reasons of confidentiality the company for whom the Research Project has been conducted has been designated as Company X.

Company X (Department of Atomic Energy (DAE) which provides products and services under the peaceful use of nuclear energy in the field of Healthcare, Agriculture, Industry and Research and with the focus on Radio Pharmaceutical (RPhs), Radiation Processing Plant, Column generator Plant, Isotope Application Services, Electron Beam facility, etc.

Company X offers services to more than 2000 customers by offering 600 + products.

It offers the following services that are unique in the Indian Eco system:

• Sterilization of Medical Products
• Radiation Processing Plant
• Radiation analytical Laboratory
• Isotope Application Services
• EB Processing Services
• Consultancy Services
• Calibration Services
• Dosimetry Service

Objectives:

The objectives of the study were based on the discussion DYPUSM had with the Company X.

Based on the discussions, the Objectives that needed to be studied are:

• To identify the market size-domestic and international / export of BRIT products to neighbouring countries. (Viz. Nepal, Bangladesh and Sri Lanka)
• To identify the major competitors and their broad strategies.
• To identify factors affecting the buying behaviour of the customers with emphasis on branding and price positioning
• To make well defined strategies to increase in Market share of Company X.
• To identify the areas which requires improvement or change in system to get better results and submit the plan for improvement for each product.

Research Methodology

The Research was conducted using the ‘END- USER Method’ and also a detailed study of more than 600 hospitals and customers. The study of the hospitals and customers was done using a detailed questionnaire, with the aim of understanding the satisfaction level of its customers.

The discussions with the company X, helped in understanding the selected radiopharmaceutical products, its uses, identifying the various customers or users and the hospitals using these products. The discussions also helped in understanding the various issues involved and is an important activity which ultimately helps in designing a good and robust questionnaire.

Questionnaire Design

The designing of questionnaire is a process, which involved the following steps:

• Questionnaire Design (Broad based approval of the customer was taken at this stage)
• Pilot Study (involved discussion with a few customers with the objective of ensuring clarity, ease of understanding of the questionnaire by the customers and the time duration required to fill the questionnaire).
• Based on the pilot study, the questionnaire was modified.
• Presentation of the “final questionnaire” to the customer and obtaining an approval of the same.

Data Acquisition

The data acquisition stage involved collecting the data from the various contact points at the selected locations through a dedicated field staff.

Data Analysis

The data collected was then analysed using the Statistical Package for Social Sciences statistical tool (SPSS package).  

An interim presentation was made to the management so as to ensure that the data collection and analysis is in sync with the management objectives.

The completed data analysis was then used to prepare the find report and this was then submitted to the top management of Company X.

A final presentation to the top management on the conclusion / findings / strategies and future course of action was also made.

Data Collection Process

The data collection process comprised of two parts viz. Secondary Data source and primary data source.

Secondary Data source: 

Secondary data provides a knowledge base and facilitate a thorough understanding of concept as well as developments and current trends in the field. The secondary research sources that were referred to included radiopharmaceutical manufacturing company websites, annual reports, financial reports, News articles, press releases and web-casts specific to the major companies operating in the radiopharmaceuticals market etc. The data was also collected from the Official website of the company online journals, articles and reports. Some of the data was also obtained from government sources. Some of these government sources were of a classified nature. 

The secondary data also helped in understanding the global and the domestic market size both current as well as the potential market size.

Primary Data Source / Survey:

In order to validate data analysis and further obtain insights into RPhs primary interviews with members of the radiopharmaceutical industry and key opinion leaders (KOLs) were undertaken. The primary data sources essentially help in understanding the “customer buying process”, the issues and challenges faced by these customers and to a certain extent the satisfaction level of the customers in buying the radiopharmaceutical products from Company X.

Confidentiality of the data obtained was assured to the customer / hospital staff and other respondents.

The primary data collection was conducted by a team of faculties and management students of the Health and Hospital Management.

The primary data collection was conducted for each market, category, segment, and sub-segment across geographies. Face-to-face interviews and telephone interviews were primarily used in this phase of the research.

Primary data was collected by using a structured questionnaire method. This method is cost-efficient, quick, economical and a very effective way to record primary data. 

“Different Scales” were used to collect the responses. Generally, a 1 to 5 Likert scale was used. 

Typically for example 

1. A scale of 1 to 5 could indicate preferences. Thus 1 would indicate low preference and 5 would indicate highly preferred or
2. A scale of 1 to 5 could also indicate the level of readiness to purchase a product from the given supplier. Thus 1 could indicate a low level of purchase while 5 could indicate a high readiness to purchase.

Competitor Analysis

This is a very important aspect of the study of the market dynamics. It helps in understanding the competitor behaviour and also gives a glimpse of their future action and strategies.

For competitor data analysis, discussions were held with the doctors of the nuclear medicine departments in the various hospitals as well as the representatives of the competing firms.

Subsequently desk research was conducted through the study of the website, annual reports, press reports and other relevant available documents. 

Statistical data from the government websites, trade associations and agencies were also part of the secondary research. Additionally, certain confidential data was also obtained from government sources and other.

Timeline for the project

The entire project as agreed was to be completed in 6 months.

The project began in June 2022 and was completed in December 2022.

The different steps involved in the study are briefly given below:

• Studying the nature of the work and gathering suitable and relevant information from X
• Development of questionnaire
• Pilot testing of the questionnaire and modification of the questionnaire if any
• Survey of the customers
• Data Analysis
• Interim Presentation
• Submission of the report and final presentation

The total time required for the study was estimated to be 180 days. This does not include the time required for clarifications etc. 

The detailed time requirements for each of the activities is given below in the chart.

Table 2 Timeline of the project

From the above it is clear that the survey of the customers / hospital is the most crucial and time-consuming part of the entire process. It is also the most difficult aspect of the study.

Conclusion:

Due to the confidentiality, the findings of the project cannot be disclosed here.

2. Sakhi: A group of women who belong to below poverty line in Ganeshpuri, Aklolikund, and Maharashtra were identified as beneficiaries for the project. These women lived their life by doing jobs such as washing utensils, cutting vegetables in nearby hotels but had very little monetary benefits. The group was identified based on interest for growth and self-initiative to be a part of the project. The objectives of the project were
3. Creation of cluster entrepreneurship and livelihood.
4. To create self-realization among the women of low-income group about their talent and skills.
5. To bring business acumen in them.

Output of the project  

1. Created 13 women entrepreneurs created, interested to run Sakhi who eventually were running food business.
2. FDA approval seeked by them for retail sales for their products.
3. Product lines created were Soya ladoo, Methi Ladoo, Moong Ladoo+10 other products.
4. Trained with skills of business, like Finance, Marketing, forecasting sales, Packaging, Labelling and legal registration.

Impact of Project

1. Most of the women in the village got motivated and wanted to be part of the Entrepreneurial team.

2.Women wanted to form cluster for packaging and labeling.

3.Stable venture and livelihood created 

Funded with seed Capital by HSBC: Rs 40,000.

3.Mangrove Mud crab project: This project was planned and executed for the fishermen community who live in the coastal belt of Sindhudurg.UNDP and the Mangrove cell wanted an ecosystem created where there could be avoiding of cutting of Mangrove plants and if additional plantation could come in for protection, hence MPEDA with ideation of Mangrove mud crab project.

The objectives of the project

1. To convince the fishermen community to be a part of the MMP.

3.To design a business plan.

4.To make the project self-sustainable

5.To bring conflict resolutions.

Output of the project

72 Fishermen involved in pilot project, i.e., the project was kick started among six groups in around six different places of Sindhudurg

2.Business plan was created and training imparted for execution by the fishermen

3.In a years’ time 3 groups had successful yields for purchase and export by MPEDA.

4.Mangrove plantation increased in the coastal line.

5.New business model developed and 2 Investors came forward for the business.

Impact of the project

1. New business model created, additional livelihood earning for fishermen during off season.
2. Mangrove ecosystem was taken care
3. Sustainable business for export introduced in the region and scalability done by Fishermen with more than 100 plus fishermen getting involved in phase 2 of the project.

Sponsored by MPEDA.

4. Tassar: A journey from Cocoon to Cloth: Project Tassar is about the challenge of transforming the lives of Non-Functional SHG members, women from Sitepar Village in Bhandara. Ground research made the team of D.Y realize that Sitepar village is blessed with the natural forest of Ain, Arjuna and Asan plantations which are a good source for rearing silk worm. The team along with MAVIM (Mahila Arthik Vikas Mahamandal) brought together all the non-functional SHG units of village Sitepar. Post discussions, with all the groups only 11 women stepped in and thus the target beneficiary community was formed for the project.

The objectives of the project

1. To inculcate business acumen among the women of Sitepar village.
2.   To create substantial source of income for the women through entrepreneurial venture
3. To bring about cluster entrepreneurship development in the village
4. To support vocational skills set training of women in the village
5. To help in environmental conservation of the locality
6. To bring in better quality life for the families at Sitepar village, Mohadi taluka.

           Output of the project

1. More than 88 women entrepreneurs have been created
2. 4 villages covered for cluster entrepreneurship
3. Employment provided for 5 men of the village
4. Income generated more than 2 lakhs.

Impact of Project

1.Huge new world opened up for women and there is acceptance amongst the villagers of the women in their new avatar.

2.Women now show stronger decision-making ability. Increased self-confidence and leadership qualities has been seen in them.

Funding Received: Rs 4,67,000

4. An Intensive Study of Governance and Sustainability of CMRC –Community Managed Resource Centre for MAVIM-Mahila Arthik Vikas Mahamandal, Government of Maharashtra- A Pilot study of the best and least performing CMRC.

SHG models have proved to be great interventions for the empowerment of poor and weak section of women in the rural belt. A number of Government agencies, NGOs are working in the field of SHG formation and strengthening. MAVIM which is a State-run Non-Profit organization which works for women empowerment and development in the state of Maharashtra, is also the second largest organization in the state to form 65,000 women SHGs which covers 3.17 lakh women in the all and covering 33rural districts of Maharashtra. The CMRC is a women’s federation, Community Managed Resource Centre (CMRC) around 150-200 SHGs formed in a cluster of around twenty villages, within the radius of 20 to 25 km. All SHGs in the cluster, regardless of the agency that promoted them, will be eligible to become members and avail of the services of the CMRC. All SHGs will strive by means of training, regulation; become ‘A ‘Graded SHGs. The CMRC is a registered organization and work on a no profit loss basis. It is not necessary to have it at block level but can be established at any centrally situated village.

The objectives of the project

1.To take a general look at CMRC as an organisation from the management function

perspective and identify gaps available with respect to its functioning.

2.To design certain management tools for the per say functioning gap.

3.To study the social enterprise system of CMRC and its revenue model.

4. To study and understand the existing gaps in techno-managerial inputs, quality of

products and services, marketing strategies, requirement of capacity building and data

management, financial management and time management.

6. To measure the performance with respect to certain indicators of output and impact.
7. Recommendation for potential social enterprise which can be taken by CMRC as best model for replication.

Output for Project

1. Successful replicable business models identified.
2. Failed practices evaluated and identified.
3. Evaluation and Performance metrics for all CMRC was created.

Sponsored: MAVIM

5. An Intensive Feasibility Study of Eco-Tourism Projects – Sindhudurg Pilot Study

Community Based Eco-Tourism: It is a form of tourism that emphasises on the development of local communities and has substantial control over and involvement in its development and management. By sharing activities, festivals, livelihoods, artisanal goods, home-stay with the tourist a major share of benefits remain with the community and generate local income strengthening local economies. A successful model of community-based tourism seeks intense local ideation and involvement, utility of local skills and leadership. Understanding the fact that the State Government and MTDC is keen to promote community based eco-tourism and the destinations already are being exploring the option of community based eco-tourism. The assignment focused on certain objectives which could draw out a viable and feasible community based eco-tourism model at Hadi/Wadatar /Vengurla.

Objectives of the Research.

1. To explore the eco-tourism potential at all the three destinations using local community.

2To understand the existing strengths, weakness, opportunity and threats (SWOT)

3. To explore the project with the theme –Serene Sindhudurg for creating complete tourist circuits.

4.To discuss with the local community the potential for seasonal tourism packages with themes and work on its feasibility (Business plan)

5.To discuss the gaps and model with Panchayat officials for their participation

6.To design a successful model with local participation and nature conservation and protection for UNDP.

Output of the research

1. Clear SWOT for the project and gaps.

2Understanding of buy in and support of the local community for the project

3. Ideation of the community
4. Understanding the plans and support of officials
5. Understanding the present status and work ahead for the action plan for Phase-2

Sponsored: UNDP, Mangrove Cell-Ministry of Forestry

6. 6. Drishti: DYPUSM along with the blind persons association (BPA) worked together in the process of creating entrepreneurs amongst the blind community. The community responded well to the idea of creating their own business model. D.Y. Patil school of Management would act as a capacity builder for the community. During the meetings with the women the team came up with the product of making ‘Quilled earrings’ to initiate with the project. Team after identifying this product as an opportunity started training sessions amongst themselves. There was an interaction with the Sarpanch of Local Gram Panchayat for allotment of training area for the ladies. On 9th February 2015 the team inaugurated the training sessions with the ladies for the production of quilled earrings. Every day the students travel down to Vangani to give the ladies training. After a month of training sessions, the ladies have produced 100 Quilled earrings. Futher to launch the project Drishti, earrings were marketed at the Rs 150venture organised by D.Y. Patil University school of Management with the overwhelming support of its director, teaching and non-teaching staff and its students.

Funded: Crowd funding :Seed capita of Rs50,000

7. 7. Impact of CoVID- 19 existing livelihood Mahila Arthik Vikas Mahamandal (MAVIM) run SHGs with respect to Urban setting of Maharashtra and Designing Opportunities to cope with     the       new normal.

The spread of COVID 19 has created an unprecedented situation across the globe. What started as a health pandemic soon turned into a humanitarian and economic crisis compelling governments and civil society organisations to be on their toes. Government of India declared the first phase of lockdown on 15 March 2020 and then extended it in phases along with other measures. Maharashtra is one of the worst-hit states in terms of the pandemic and its crises, however is now opening up and easing restrictions in a phased manner. Today, the spread is uneven, urban areas exceeding the number of infected cases though continuing to have mobility restrictions for travel and this has disrupted life and activities across the state.  Maharashtra has been a hotspot for the COVID-19 pandemic and its crisis. This has deeply impacted the livelihood and employment activities of SHGs.Hence the research focuses measuring the impact it has on SHGs Of MAVIM and design Opportunities which will suit the new normal.