MAYADERM Case Study

 MAYADERM

Q. What is the product? 

Ans. Mayaderm is the product under discussion. It is an Ayurvedic substance derived from the Elephant Climber plant. Along the coastal belt, it is abundantly accessible. The medicinal applications of the plant's roots, leaves, stems, and seeds are described in Ayurvedic writings. It can cure a variety of cuts, burns, and wounds that other ointments and lotions cannot. It has even saved people from having to undergo unpleasant operations. Dr. Shah's constant attempts to harness the therapeutic benefits of the leaves of Argyreia speciosa, a plant known in India as Samudra Shosh, resulted in Mayaderm.

Q. What are the parties involved in the conflict?

Ans. The parties involved in the issue are

Dr. Shah, the innovator of the Mayaderm. He was inspired by the field of dermatology, where he focused on traditional healing methods. 

The 3rd party marketing company is based in Ahmedabad. 

Tuton Pharmaceuticals, who were the producers of Mayaderm.

Maya Medicals, the shop that supplied Mayaderm exclusively.

The competitions- G.D Pharmaceuticals, VICCO Lab Limited., Paras Pharmaceuticals limited. 

Q. What does Mayaderm face the conflicts?  

Ans. 1. Business:

The product is a herbal product with no market at the moment.

There was no suitable supply chain in place for the product.

The third-party firm failed because they were not prepared to work for a novice in the sector.

Huge manufacturers demanded large, reliable orders and refused to accept my Mayaderm.

A lack of inventory results in a loss of customers.

A lack of reliable leaf sources.

The marketing firm employed was Afra Pharmaceuticals, which initially dealt with the price increase and the diversified manufacturing and selling of generic pharmaceuticals. However, they were unable to fulfill market demand. Retail sales fell as a result of the lack of agents.

Personal

All of the medical representatives employed by Dr. Shah to promote Mayaderm quit for undisclosed reasons. Using personal cash for the testing was a bad idea. He may have obtained monies made available to him in Germany.

The product received little advertisement, limiting its reach. His conviction in the product and word of mouth on his good name was insufficient to compete with large corporations.

Dr. Shah lacked the marketing abilities to carry the product across India, let alone internationally, due to a lack of entrepreneurial skills.

Q. What can be the possible solution to the issue faced by Mayaderm?

Ans. The possible solution for Mayaderm to succeed right now will be to focus on its marketing. The product has several unique qualities which make it stand out amongst its competitors. Dr. Shah also believes so. Dr. Shah should be the face of the product as he is the innovator and a well-established dermatologist. We will follow a rebranding route for the product while finding a local production unit.

STEP 1 – THE REBRANDING 

Mayaderm is an ayurvedic product that is natural and chemical-free. The product will be marketed as such. With Dr. Shah’s established name, his face will also appear on the packaging. This builds trust with the customer base. The packaging will be sustainable and plastic-free.

STEP 2- FIND LOCAL PRODUCTION UNITS

Since the brand advertises the herbal and local origins of the product, the product can be placed with small local vendors pan- India. This will maximize the reach and production demands of the product. This will also be very on brand, as it will be an opportunity to create employment for the locals. 

STEP 3 – CONNECT TO THE PEOPLE 

Mayaderm should be the company that should come to everyone’s mind when we talk about medicine. Hence, we need to advertise as such. The origins of the products and the story behind them should be shared widely from Dr. Shah’s perspective. There must be posters, TV, and radio ads talking about Mayaderm. The hospitals need to take up Maya medical counters to endorse the product. 

This is a 3 step program to bring Mayaderm to a pan- India or even an international level. Efficient and cost-effective means to make Mayaderm a household brand.