Satya Pharmaceuticals’ foray into global markets

What is it about?

This case on Satya Pharmaceuticals is a typical dilemma of Small and Medium Enterprises (SMEs) in emerging markets such as India who are exploring the untapped overseas markets for expanding their business. The products of Satya Pharmaceuticals are OTC Ayurvedic medicines. Given Covid 19, the consumer preference for Ayurvedic products had increased globally. Home country governments’ emphasis on exports and conducive consumer preferences created an opportune time for such SMEs to explore uncharted markets with a propensity for herbal medicines. Amidst strict regulations regarding safety, efficacy, labelling, packaging norms along with a subjective understanding of the sentiment of the consumers regarding alternate medicines SMEs must select their target market carefully for their products to be successful overseas. This case presents the basic information needed by entrepreneurs when exploring foreign markets. It revolves around preparedness of firms in exploring foreign markets, identifying target markets, timing the entry and entering those markets.

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