Feasibility Analysis of Maternity Package Business in India

Abstract

The Finnish maternity box provided by the Government of Finland to all new parents became very famous all over the world in recent years. It is a high-quality product that provides a complete set of clothes needed for an infant, care products and a sturdy box that converts to baby’s first bed. This motivated the author to explore a business idea offering a similar product for India. The product would be sold online and targeted at metropolitan cities in India. Before entering the product creation phase, it was important to analyze the feasibility of this business idea. A mixed-method research approach was utilized using case discussion and a quantitative survey. Exploration of the business idea was done using segmentation, customer behavior, Indian market trends and risks identification. Business tools, SWOT analysis and business model canvas were used to gain deeper understanding of the business. An online survey was conducted to analyze the customer attitude and preference towards the new product. The survey revealed statistics on product necessity, likeability, purchase likelihood, preferred characteristics, and type of products that the respondents would prefer in the package. The findings showed that the maternity package business in India was ‘very likely’ feasible. The market showed high growth potential for the baby product and apparel industry. There is an established e-commerce infrastructure and logistics system in place. The potential customers were interested in the product and there was a high purchase likelihood. It was revealed that the Indian version of the box will differ from the Finnish version as the respondents preferred care products over clothes. Further research is recommended to include detailed market research, financial elements and a proper business plan.