In our previous article, we studied the complete SWOT Analysis of Dr. Reddy’s Laboratories. Today in this article we will study the Marketing Strategy of Dr. Reddy’s Laboratories Limited.
Dr. Reddy’s Laboratories Limited is a global pharmaceutical company headquartered in Hyderabad, Telangana, India. Dr. Reddy’s Lab is one of the top ten national corporations in India and ranks second among multinational biotechnology and pharmaceutical companies.
This makes one wonder what they do to maintain their position in an increasingly competitive and digital age. Marketing is an integral aspect of a company’s DNA that may help or hinder its future. As more people go digital, so has marketing. Check out IIDE’s Free MasterClass on Digital Marketing 101, taught by our CEO and Founder, Karan Shah.
In this blog, we will go through the marketing strategy of Dr. Reddy’s Laboratories and the campaigns that they have used over the years to assist them to stay ahead of their competitors in the market.
So let’s start by understanding more about the company.
About Dr. Reddy’s Laboratories,
The leading multinational pharmaceutical company – Dr. Reddy’s Laboratories was founded in 1984 by a mentor in the institute of Indian Drugs & Pharmaceuticals Limited named Kallam Anji Reddy. It began as a supplier to Indian drug manufacturers and slowly the company evolved to start soon by exporting to other less-regulated markets such as the U.S. Food & Drug Administration where getting approval from drug regulators for formulations and bulk drug manufacturing plants was easy.
Today, Dr. Reddy’s Laboratories manufactures a wide range of pharmaceuticals and markets in India and overseas. With over 190 medications, and 60 active pharmaceutical ingredients (APIs) for drug manufacture, diagnostic kits, critical care, and biotechnology products, the company is leading the market. Dr. Reddy’s Laboratories is located in Hyderabad, Telangana, India. Dr. Reddy’s had seven certified FDA plants producing active pharmaceutical ingredients and patient-ready medications – five of them in India and two in the UK.
|Market Share/ Revenue||$2.826B, an 8.94% increase from 2021|
|Vision||In pursuit of our purpose of providing affordable and innovative medicines for healthier lives, they will create an environment of innovation and learning while continually reaching for higher levels of excellence.|
|Tagline||Good Health Can’t wait for|
Marketing Strategy of Dr. Reddy’s Laboratories
Segmentation, Targeting and Positioning
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.
Segmenting – Dr. Reddy’s Laboratories is an active pharmaceutical ingredient (API) and intermediates company situated in India, North America, Europe etc. The company specialises in the production of leading generic chemicals, nutraceutical components, custom API, biologics and intermediate synthesis for worldwide innovators. So, their market segmentation is Pharma Global Innovator Companies. They do not target a particular organisation or distributors.
Targeting – The largest pharmaceutical laboratory in North America, India, Europe and several emerging markets is Dr. Reddy’s Laboratories. The corporation is best recognized for research and development expertise, end-to-end manufacturing know-how and progressive digital technology to deliver promises to patients around the world
Positioning – Dr. Reddy’s Laboratories positions itself as the largest pharmaceutical laboratory in India. They are now the only firm capable of conducting and patenting comprehensive generic drug products including several oral and anti-cholesterol antibiotics medicines. This helps companies serve different customer segments in the biotechnology and pharmaceutical industries.
Dr. Reddy’s Laboratories Ltd products boast strong brand awareness in the biotechnology and pharmaceutical industries. Being an API and bulk drug supplier to regulated markets like the US and the UK, the company acquired American Remedies Ltd. in 1999 making Reddy’s the third-largest pharmaceutical company in India, after Ranbaxy and Glaxo.
Thoda Aur Control – Dr. Reddy’s Laboratories Diabetes Campaign was conducted to deliver a message to all diabetic patients on World Diabetes Day. It conveys that diabetic patients should have self-control over themself and their eating habits so that they can stay fit and healthy in their remaining life. As you can see the video published on Youtube hasn’t gotten that much attention with only 120 views, but the message and the recommendation that Dr. Reddy’s Laboratories and its team conveyed were creative and captivating.
Information – other campaigns by Dr. Reddy’s Laboratories
Dr. Reddy’s Laboratories haven’t conducted any other marketing campaign yet, but they promote their products like Celevida, Femibion and other immunity boosters, women’s health, and dietary products through traditional mediums like TV and paper advertisements.
They also run several awareness campaigns related to avoiding products such as cigarettes, tobacco etc. that can cause health-related issues. You can check their Instagram social media account by the name ‘drreddysofficial’ to beheld insightful posts.
Social Media Marketing
One of the most essential methods – Dr. Reddy’s Laboratories is creating and maintaining 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. The posts are related to onboarding of new employees, health-related festivals, achievements, awards, product promotion, tips and guidance, festivals, sustainability, webinars, hirings etc. and many more. The company frequently postings on all social media platforms and especially on Instagram.
This enables the business to have a strong online presence and establish a reputation as a trustworthy source of information and guidance. Dr. Reddy’s Laboratories are presented on the below social media platforms –
- Facebook with 189k followers
- LinkedIn with 712k followers with a massive engagement rate of more than 2k+ likes
- Twitter with 31.3k followers
- Instagram with more than 8k+ followers and an average engagement rate of 1k+ likes
- Youtube with 6.87k subscribers
Search engine optimization (SEO) is a set of strategies used to improve the quality of a website. To guarantee that new and returning consumers can discover them while searching online, businesses require a solid SEO strategy. As we can see, the website https://www.drreddys.com has 45,444 organic keywords and it’s considered awesome in SEO terms. The monthly traffic is in the 245,432+ range, which is remarkable.
Dr. Reddy’s Laboratories should regularly mention their marketing campaigns on their website to attract more people so that their website traffic increases and also brand awareness. Also, they could publish blogs related to covid care, diabetes, fitness, Ayurveda, healthcare, skincare and even medical devices and can promote their products as well.
We believe that the company is doing great in SEO strategies than its competitors and maintains its high position in the market.
The company doesn’t use any influencers. Due to the wide range of pharmaceutical products manufactured by Dr. Reddy’s Laboratories, they can hire influencers of any niche or celebrities for promotion and awareness. With the help of influencers, we believe that people will start trusting the company easily and get aware of their products’ quality.
The company doesn’t have any online stores to sell its products. Its online portal is only for informational purposes. But the products of Dr. Reddy’s Laboratories are available for sale on websites like Netmeds, 1mg etc. Their products are supplied worldwide.
Content Marketing Strategies
Dr. Reddy’s Laboratories has mentioned everything about the company and the company’s Infrastructure, Investors, Businesses, R&D, Careers, Media News and a way to reach them on their website.
The company has posted several marketing campaigns, awareness videos, and event promotions on social sites like Instagram, Facebook and LinkedIn. One can find much more information about the company through its Instagram and LinkedIn page.
This ends our elaborative marketing strategy of Dr. Reddy’s Laboratories. Let us conclude our learning below from the marketing strategy of Dr. Reddy’s Laboratories.
What’s unique about Dr. Reddy’s Laboratories’s marketing?
Although the initial idea began with a self-assessment tool to provide people with a sense of relief. Dr. Reddy’s Laboratories expanded the entire concept to build a user journey that received massive engagement and appreciation from all over the world.
The company has beaten its competition, and the main reason for that is its amazing marketing initiatives in raising brand awareness among its customers. However, they need to focus on new strategies such as influencer marketing, and we recommend that they launch their e-commerce website.
Marketing is one of the most important aspects of every company, and it is now undergoing a rapid transformation. With the growing importance of digital marketing, it’s essential to educate yourself on this subject.
Check our Online Digital Marketing Course if you want to learn more and improve your skills. Alternatively, you can enrol in one of our free online masterclasses led by IIDE’s CEO, Karan Shah, to gain insight into the field of digital marketing.
We hope this blog on the marketing strategy of Dr. Reddy’s Laboratories has given you a good insight into the company’s marketing strategies.
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