Student Dissertation

Agency : Consumer Expectations, Wellness Program, Health Awareness

Objective : To identify the major consumer segments for a wellness program, to identify the major existing players in the market and their offerings and also to learn and understand consumer needs and expectations of each consumer segment

Background : With the change in Indian economy, we can see a big change in the lifestyle of people resulting in the emergence of a number of lifestyle and chronic diseases like diabetes, hypertension, CVD etc. With the increase in awareness, people are now aware of the fact that their new lifestyle is affecting their health which is their most important asset. This has opened up a flood gate of opportunities for the wellness industry which is expanding at a rapid pace since last couple of years with number of players. But in India it is still unorganized and faces a lot of challenges. In this competitive industry it is very important to understand consumer expectations before designing any program as Research by Calantone and Cooper shows that the number one reason for a new product to fail is the lack of attention paid to the real needs and wants of the marketplace.

Methodology : For the purpose of the study consumers were divided into three different segments i.e. children, working population and nonworking population. Also current market offerings of the major players were reviewed. In-depth face to face and telephonic interview were conducted with key stakeholders in each segment. Interviews were conducted in 5 schools, 12 different corporate offices and 12 families and their needs and expectations from various wellness plans were recorded.

Findings : At present all most all the major players are concentrating on diagnostic checkups in wellness packages. Packages are mainly differentiated based on the number of tests being provided. Other than preventive health checkups consumers are also seeking various other services like 24/ 7 health call center, counseling on diet, psychological counseling as stress is one of the biggest health hazards these days. There is also the need for doing periodic health checkup homes, schools and corporate offices and we should have health awareness sessions based on their requirements

Recommendations : It is very important to understand that wellness is not limited to preventive health checkups but relates to the overall well being of a person. It should cover all the six different aspects of wellness. Before designing any program first the consumers need has to be completely understood and then the wellness programs need to be tailor made depending on their requirements. Health checkups in corporate spaces and schools should not be conducted just for name sake but it should be done in a comprehensive way so that both the individual and the organization can be benefited from such a program