In our last post, we learned about the marketing strategy of galaxy surfactants. Here, we are going to summarise the marketing strategy of Alkem Laboratories – as India’s one of the leading Pharmaceutical companies.
The goal is to assist you in understanding the transformation of India’s largest generic and speciality pharmaceutical company. Marketing is an integral aspect of a company’s makeover that may make or break its success. As users all around the world migrate to the digital environment, marketing has followed suit.
So, if you are interested in new-age digital marketing, then you should definitely check out IIDE’s Free MasterClass on Digital Marketing 101 by the CEO and Founder, Karan Shah of IIDE.
This blog will go deep into the marketing strategy of Alkem Laboratories in detail. Let’s start by learning about the company’s history, target audience, and digital presence before we delve into the marketing strategy of Alkem Laboratories.
About Alkem Laboratories
Alkem Laboratories Limited is a pharmaceutical generics, formulations, and nutraceuticals manufacturer and distributor based in Mumbai, Maharashtra, India.
Alkem Laboratories is an Indian pharmaceutical firm. The business focuses on the production and distribution of pharmaceuticals, including over-the-counter medications. New Delhi is the headquarters of the company, which was created in 2012. Alkem now has production plants in India, the United Arab Emirates, and Saudi Arabia.
Alkem has 21 manufacturing sites, 19 of which are in India and two in the United States. These two US facilities were purchased in 2012 and 2013, respectively. Galderma S.A. sold Alkem the “Clinic-A” brand in India in 2014. Alkem purchased a formulation manufacturing facility in the United States in 2015.
Alkem created a research and development centre for ANDA development in Taloja in 2003. Taxim, an anti-infective treatment developed by Alkem, was the first anti-infective drug in the Indian pharmaceutical industry to attain a $1 billion domestic sales milestone in 2006.
Another Alkem drug, Clavam, has exceeded the 2,000 million dollar threshold in Indian domestic sales in the year 2014. In 2007, the company filed its first ANDA for the medicine Amlodipine, which was authorized in 2009. Alkem established a portfolio of 705 branded generic pharmaceuticals for the fiscal year 2015, with 13 of them ranked among India’s top 300 brands, and a portfolio of 705 brands for the six months ended September 30, 2015.
|CMO||Dr Akhilesh Sharma|
|Market Share/ Revenue||8448.5 Crores|
|Vision||Alkem’s vision, as an organization, is to achieve value-driven leadership through consistent hard work in developing enduring quality products, marked by exceptional service.|
Marketing Strategy of Alkem Laboratories
Due to the rising need for adequate healthcare, the pharmaceutical industry’s business economics continues to face numerous obstacles. As a result, businesses are having a difficult time commercializing their products and designing their marketing strategies. Clinical studies have become more expensive and risky as a result of this. It’s here that market segmentation comes into play.
Segmentation, Targeting & Positioning
Segmentation – The STP (Segmentation, Targeting, and Positioning) marketing model is a well-known strategic marketing strategy today. It’s one of the most popular marketing approaches, with marketing execs praising it for making communication more effective and simple.
Alkem Laboratories Ltd is a generics, formulations, and nutraceuticals manufacturing company situated in India. The company specializes in the production of leading generic chemicals, nutraceutical components, and custom API and intermediate synthesis for worldwide innovators. So, their market segmentation is Pharma global Innovator Companies. They do not target a particular organization or distributors.
Targeting – The largest pharmaceutical laboratory in the United States is Alkem Laboratories. They are now the only firm capable of conducting and patenting clinical trials on patients, as well as manufacturing all of the pharmaceuticals that they can. Although the corporation is best recognized for researching and distributing medications, it also develops and manufactures a wide range of medical devices and pharmaceuticals.
Positioning – Alkem Laboratories is the United States’ largest pharmaceutical laboratory. They are now the only firm capable of conducting and patenting clinical trials on patients, as well as manufacturing all of the pharmaceuticals that they can. They work on the development and production of a wide range of medical equipment and medications.
Alkem Chronic has launched a new campaign to promote India’s health. Alkem Chronic, a strategic business unit of Alkem laboratories, is preparing to launch a nationwide movement by Indian doctors with a message, with the assistance of the Indian Medical Association. A healthy India will come from a clean India.
Saatchi & Saatchi has won the creative responsibility for Alkem Laboratories’ two newly launched products, Majesta and Jeevanprash, following a multi-agency pitch. According to industry sources, the account is valued at about Rs 12-15 crore. Alkem Laboratories intends to rethink its communication as it enters the sugar alternatives market.
“It is a major win for Saatchi & Saatchi,” stated Kamal Basu, EVP and Branch Head, Saatchi & Saatchi, in confirming the news. In the sugar substitute food lines, we intend to have a product revolution.” He went on to say that the agency intends to take a 360-degree approach to these brands’ communication.
Alkem laboratories celebrate World LIVER Week from 19th to 23rd to make the public aware of Liver diseases and associated problems and keep the liver healthy and improve the overall health. #liverHaiTohLifeHai is a slogan developed by Alkem Laboratories during this campaign. In India, the Liver Disease burden is enormous and is among the top 10 causes of mortality.
On the occasion of nutrition day. Alkem Laboratories launched a live webinar on Nutrition and Immunity by Eminent Dietician Shilpa Joshi, Vice President – Indian Dietetic Association. This webinar was hosted on 2021.05.28. According to the record, the webinar was very successful and had many participants.
Social Media Marketing
One of the most essential methods – Alkem Lab can create and maintain a great brand through social media marketing. The company’s social media accounts are in charge of assisting in the development and maintenance of the company’s reputation, and they are one of the most effective ways to do so. Key company messages are frequently communicated via the company’s social media pages, which are frequently shared by other companies and industry professionals. This enables the business to have a strong online presence and establish a reputation as a trustworthy source of information and guidance.
Alkem Laboratories are presented on the below social media platforms –
One of the most essential ways for the firm to grow its online presence and expand the number of people who can learn about its products and services is through SEO techniques. The company’s SEO activities are responsible for improving the company’s online rankings with Google, which helps to enhance the quantity of traffic that each of the company’s websites generates. As a result, the company’s internet reputation is enhanced, and it is established as a trustworthy source of information and assistance.
Alkem Laboratories is a force in the field of influencer marketing. They can find the world’s most important people and then promote their products to them strategically to maximize their reach. As a result, they attract a great amount of consumer attention, which leads to an increase in sales volume. They are able to do so because of their enormous budget and the high demand for their items.
Content Marketing Strategy
The company has used content marketing strategies for years, and its website has a large amount of information about the company and its products. They use social media to share this with their customers, and then use other media outlets to increase their reach.
This ends our elaborative marketing strategy of Alkem Laboratories. Let us conclude our learning below from the marketing strategy of Alkem Laboratories.
Conclusion – What’s Unique in Alkem laboratories’ Marketing?
Alkem Laboratories has concluded that using mobile apps allows them to target their influencers and expand their reach. The use of these apps has been shown to be quite effective in terms of enhancing product sales.
As we all know, digital marketing has taken a drastic change because of pandemics that affected every business. As per digital marketing statistics, about 60% of the population of the world uses the internet. It rose by 20% in the past two years due to the pandemic with many businesses going online. An established company’s image is everything. The right campaign strategies can make or break a company’s brand image. Through digital marketing, effective campaigns can be designed and the scope of fixing any glitches immediately is there.
With the increasing importance of digital marketing, learning about the growing field is an important step. If you would like to learn more and develop skills, check out IIDE’s 4 Month Digital Marketing Course to learn more.
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