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Thermolab's Micro Cooling Cabinet:
A product innovation for new market penetration
Duration: 13 Weeks
Type: Business Design (Group Project)
Skills: Product Innovation, Growth Strategy, Market Gap analysis.
College: Indian School of Design and Innovation (2021)
My Role
In this project, pivotal to both my academic growth and family business, I spearheaded factory visits, providing comprehensive technical insights. Concurrently, it refined my project management, particularly in team leadership.
The business plan serves as an exemplary case of strategic positioning in the healthcare and pharmaceutical equipment industry. It is a journey from identifying a market need to developing a product that addresses specific challenges.
The story of a new market product innovation.
In the bustling heart of India's pharmaceutical landscape, Thermolab, a company with a history dating back to 1967, embarked on a revolutionary journey. Their mission? To innovate the way pathology and diagnostic labs preserve critical medical samples. This is the story of their groundbreaking product: The Micro Cooling Cabinet. Once upon a time, Thermolab's staple products, like stability chambers and cooling cabinets, catered to a specific market. But as the healthcare sector evolved, so did Thermolab's vision. They saw a need in smaller labs – a need for precision cooling solutions that were both affordable and compact.
Enter the Micro Cooling Cabinet, a marvel of modern engineering, tailor-made for the unique challenges of pathology labs in India's bustling metropolises. Unlike its larger counterparts, this cabinet was designed to fit into the cramped spaces of urban labs while maintaining impeccable precision in temperature control – a feature crucial for the preservation of sensitive medical samples. But this innovation wasn't just about the product; it was about understanding the market.
Through extensive research, including interviews with lab managers and biotech researchers, we identified key pain points: the need for space-efficient, budget-friendly, and highly reliable cooling systems.
Armed with this insight, a challenge was turned into opportunities. We suggested a redesigned of their manufacturing process, prioritizing cost-effective features without compromising quality. The result? A product perfectly positioned to tap into a new, untapped market segment, offering an affordable solution to labs that previously had to rely on less specialized equipment.
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