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 Ipca Laboratories Limited.
Ipca Laboratories Limited is a global pharmaceutical company headquartered in Mumbai, India. Ipca 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 Ipca Laboratories and 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 Ipca Laboratories
Ipca Laboratories is a fully backwards-integrated Indian pharmaceutical company with a huge focus on exports. It is the largest producer of a few APIs (active pharmaceutical ingredients) right from the basic stage, which accounts for more than half of its formulation business.
The Ipca Laboratories Limited corporate family consists of 85 companies. Their corporate office is based in Kandivali, Mumbai. Ipca Lab was promoted by a group of medical professionals and businessmen and was incorporated under the name ‘The Indian Pharmaceutical Combine Association’ on 19th October of the year 1949.
Amitabh Bachhan, Jaya Bachchan, M.R. Chandurkar, and P.C. Godha took over the company’s administration in 1975. The Bachchan family sold its 36% stake in Ipca Labs to the company’s directors in 2013.
Since 1949, Ipca laboratories, the leading manufacturer company, has been operating on the core values of Quality, Safety, Integrity, Dignity, and Responsibility. Ipca Lab’s net worth has increased by 16.39 % since 2021.
|CMO||Ajit Kumar Jain|
|Market Share/ Revenue||INR 500 Crores|
|Vision||Learning never stops|
|Tagline||A dose of life|
Marketing Strategy of IPCA Laboratories
Segmentation, Targeting and Positioning
- Segmentation: Formulations, API, malaria, Nutraceutical, urology, nephrology therapeutic segment
- Targeting: Health care professionals in the domestic and international market
- Positioning: IPCA is one of the largest pharmaceutical manufacturers & suppliers
AI-powered COVID-19 Self-Assessment Tool for Coronavirus Risk Analysis
Based on the content guidelines defined by the Worldbackwards-integration (WHO) and the MoHFW, they developed a web-based self-assessment tool where users had to answer a set of 9 multiple-choice questions which asked basic questions like their age, gender, etc. to specific questions related to having any symptoms like cough, fever, and further asking them about any pre-existing conditions such as diabetes, hypertension or whether they had visited any COVID19 affected regions or came in contact with any confirmed COVID-19 positive case, etc.
As the user answered each question, the AI algorithm in the backend evaluated the likelihood risk quotient of the user’s Coronavirus exposure and displayed the result, which placed the user in the low-risk, medium-risk, or high-risk group depending on all of the answers given.
The web-based self-assessment tool received amazing feedback and more than 75,000 people from across 100+ countries took the self-assessment tool within days of its launch.
Coronavirus Myth Busters
As word spreads about raising awareness about the COVID-19 virus, misinformation and myths about the Coronavirus spread at the same rate, if not faster, thanks to social media and instant messaging platforms.
That’s when the concept for Coronavirus Myth Busters formed. A forum for exposing all myths and misconceptions about the Coronavirus Pandemic. The info, which was obtained and compiled from many credible and verified online sources, was shared in English and translated into Hindi to reach a far wider audience of non-English speaking people.
Coronavirus Facts Quiz
The Coronavirus Facts Quiz is a fun quiz game that tests the user’s knowledge of the virus and other related topics. During each gaming session, the user must answer a series of ten questions to assess his or her knowledge of the Coronavirus.
The questions are created at random from a database of numerous questions, and the user must answer each one within a certain amount of time. After the round of ten questions, the user is asked to retake the game to increase his/her knowledge of the virus, as well as to share the quiz with others in his/her network.
Since its launch, the Coronavirus Facts Quiz has had 50,000 minutes spent on it, which is similar to binge-viewing about 66 seasons of a popular web series on any OTT platform or viewing around 300+ films, or listening to nearly 1250 podcasts.
IPCA’s Digital Presence
The IPCA Laboratories Limited has accounts primarily on Facebook and LinkedIn. Through their accounts, they emphasise displaying their developments and their plans, as well as educational content and marketing campaigns.
- Facebook: On Facebook, Ipca laboratories are most active with a following of 13,416 people and 13,011 likes. They use Facebook stories and posts to announce new initiatives and items.
- Linkedin: Ipca laboratories have a LinkedIn following of 184,664 people. The content on LinkedIn is primarily inspired by Ipca’s Facebook account.
- The firm does not yet have an official presence on Instagram, Twitter, or YouTube. The information uploaded on these social networks is mainly about the company’s stocks and less about the IPCA.
- The hashtag #ipcalaboratories has been widely used on Twitter. We hope official accounts will be created soon.
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, it has https://www.ipca.com 4,920 organic keywords and it’s considered good. The monthly traffic is in the 19k+ range, which is considered the best.
Ipca 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 can do better than its competitors and maintain its high position in the market.
Due to the wide range of pharmaceutical products manufactured by Ipca 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 products of Ipca Laboratories are available for sale on websites like Netmeds, Clinically, ClickOnCare, Medplusmart, and Medindia. Their products are supplied worldwide.
Ipca’s Mobile App
Ipca Laboratories has its own built app available on Playstore. This software allows Area Business Managers and Medical Representatives to report calls from their phones while they are offline. Applicants must register at IPCA and create their accounts.
One of the most important features of company mobile apps is that they increase client awareness and recognition of your brand, allowing for better communication. This regular connection with your target market plants the seeds of trust and belief in you and your customers.
Content Marketing Strategies
Ipca 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 https://www.ipca.com/.
The company has posted several marketing campaigns, awareness videos, and event promotions on social sites like Facebook and LinkedIn. One can find much more information about the company through its Facebook page itself.
This ends our elaborative marketing strategy of Ipca Laboratories. Let us conclude our learning below from the marketing strategy of Ipca Laboratories.
What’s unique about Ipca’s marketing?
Although the initial idea began with a self-assessment tool to provide people with a sense of relief, a brilliant collaboration between GoPhygitals design and development teams and Ipca 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, SEO, and Instagram 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.
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.
We hope this blog on the marketing strategy of Ipca Laboratories has given you a good insight into the company’s marketing strategies.
If you like such in-depth analysis of companies just like the marketing strategy of Ipca Laboratories, check out our IIDE Knowledge portal for more fascinating case studies.
Thank you for taking the time to read this, and do share your thoughts on this case study of the marketing strategy of Ipca Laboratories in the comments section below.