In the previous article, we discussed the marketing strategy of Medtronic. In this article, we are going to discuss the Marketing strategy of McKesson.
In this pandemic period, all of us have become concerned with our health. And at a time like this, what would be better than to discuss the marketing strategy of one of the leading medical brands, Mckesson?
Due to digitalization in every part of the world due to covid, companies are adapting to online modes of doing business, and Mckesson’s success story can be hindered if online practices are not adopted in their organization.
Thus every business needs to implement digital marketing. If you are anxious about learning what digital marketing is and how to use it to your advantage – check out our Free MasterClass on Digital Marketing 101 by the CEO and Founder of IIDE, Karan Shah.
In this Blog, we will learn about the Marketing strategy of Mckesson. But first, let us know about the company and the product better.
About Mckesson:
Source – www.mckesson.com
McKesson Corporation is an American company distributing pharmaceuticals and providing health information technology, medical supplies, and care management tools. The company delivers a third of all pharmaceuticals used in North America and employs over 78,000 employees.
McKesson is based in Irving, Texas, and distributes healthcare systems, medical supplies, and pharmaceutical products.
Additionally, McKesson provides extensive network infrastructure for the health care industry; also, it was an early adopter of technologies like bar-code scanning for distribution, pharmacy robotics, and RFID tags.
Throughout the COVID-19 pandemic, McKesson has expanded on its well-established credentials as a key vaccine distributor, serving as the U.S. government’s centralized distributor for hundreds of millions of COVID-19 vaccine doses and ancillary supply kits for over 1 billion doses across the United States.
Quick Stats on Mckesson
| CEO | Brian S. Tyler |
|---|---|
| CMO | Kyle Rowe |
| Area served | Worldwide |
| Industry | HealthCare |
| Revenue | US$1.126 billion (2020) |
| Vision | To bring together clinical knowledge, process expertise, technology, and the resources of a Fortune 15 company to fundamentally change the cost and quality of available health care services. |
| Tagline | It’s not just a package, it’s a patient. |
Marketing Strategy of Mckesson –
Let’s learn about the marketing strategy of Mckesson! And how Mckesson carries its marketing campaign etc.
Segmentation, Targeting, and Positioning
Segmentation – This is the process of breaking a targeted market into segments that can be contacted.
Market segmentation divides a market into various subgroups based on requirements, interests, priorities and other traits that help to better understand the target audience.
Talking about the segmentation of Mckesson, it has segmented its business into Technology, HealthTech / MedTech to help the health issues of the general public.
Targeting – In marketing, this is a kind of strategy that divides the market into various segments so that service can be provided more effectively by concentrating on a specific group of customers.
They bring a healthcare organization do not have a limited target audience and provides their services to people of all age groups and they have been diligently providing medical facilities during these pandemic times.
Positioning – This refers to the process of selecting a market from the entire market. Mckesson is well-positioned in the market to gratify the needs of the customers as it offers quality services to its customers.
Marketing Campaigns
In “Better Health 2020” Mckesson helps people by providing plans for their health safety and benefits. It invested $1 billion dollars in technology R&D to address people’s financial and health-related issues.
The pace of change in healthcare is getting faster and faster, making it difficult if not impossible for any one organization to do all the jobs like payer, provider, and vendor thus ultimately solving all the problems that need solutions.
To innovate at the speed of advancing healthcare today, organizations must be able to forge new solutions quickly by connecting disparate health IT systems in a simple, cost-effective, and open way.
And this is what McKesson aims to do with this campaign which seems to be a good initiative for advancing global health advancement.
In this campaign they made comprehensive generic drug purchasing and distribution services deliver the right generic drugs, at the right time, in the right amount and in the right packaging to pharmacies of all types and sizes more cost-efficient i.e. reduced the cost for purchasing and delivering of medical drugs.
Social Media Marketing
Mckesson places a strong emphasis on implementing various strategies in its social media activities.
Its brand uses a sharp engagement strategy throughout its social media platforms to assist people to learn more about its facilities and healthcare.
They’re aiming to develop a strong digital presence for each platform in order to strengthen people’s awareness of proper health supplies.
The brand is active on social media sites such as LinkedIn, Facebook, and Instagram.
- Facebook – 24K Followers
- LinkedIn – 25K Followers
- Instagram – 8K Followers
SEO Strategies
Source – Ubersuggest
As per SEO ranking, it is said that the number of keywords – below 500 is bad, above 1000 is good, and 10,000+ is amazing. As we can see Mckesson has 208K keywords and it’s considered amazing.
That means the digital marketing of Mckesson is gaining a good number of insights.
Also, 20,000+ monthly visit is considered amazing and Mckesson has 594K monthly traffic.
Influencer marketing
Mckesson has not employed any form of influential marketing in order to promote its services.
This is one of the weaknesses of Mckesson because working with influencers will allow them to build their audience’s confidence in Mckesson’s facilities.
Mckesson should absolutely pursue influencer marketing to raise its recognition and gain people’s confidence in the near future.
Ecommerce Strategies
As the world of healthcare e-commerce is opening online, more and more customers trust that online retailers can meet their medical supply and service needs.
Mckesson’s focus is to bring the outlet home to the buyers through both the experiences i.e. offline and online.
With increased shoppers comes an increase in reviews, which are then becoming their new customers, and as all of Mckesson’s health products are available on their website they’re doing a fabulous job in their E-commerce strategy.
Mobile Application
McKesson also has an app which is MyMcKesson. It is an app that connects you to McKesson employees anywhere and anytime, which enables you to explore the resources and news you need.
This app gives you easy access to HR and beneficial information, updates from their employees, and news articles featuring colleagues and the work they are doing to make better care possible for patients around the globe.
Benefits include
- Healthcare and wellness programs
- Holiday Schedule
- Calendar of events
- Leadership communications
This app has 4.1 ratings and 1K+ downloads on the play store.
Content Marketing Strategies
Mckesson shares some important blogs that also cover every topic of every aspect of health and wellness and the relevance of proper medical equipment.
It elaborates on the need for proper medical facilities on their site and other platforms they are on.
This ends our elaborative marketing strategy of Mckesson. Let us conclude our learning below from the marketing strategy of Mckesson.
Conclusion – What’s unique about the marketing strategy of Mckesson?
Mckesson is a well-established healthcare company with a good number of subsidiaries. In the marketing analysis of Mckesson, we came to know about their strengths as well as their weaknesses.
The company has a good brand profile as well as manages its consumer base quite effectively. But it suffers from some finance management issues which need to be addressed soon.
One of their greatest opportunities is that they are moving more and more towards the online mode. Which is a necessity in today’s scenario. To stand in the market and expand globally one needs to focus more on growth in online mode.
Hence, improving marketing skills is very important for digital marketing enthusiasts. If you are interested in the above piece of information and in learning and upskilling yourself more, check out the 4 Months Advanced Digital Marketing Course by IIDE.
We hope this blog on the Marketing Strategy Analysis of Mckesson has given you a good insight into the company’s strengths and weaknesses in its marketing strategies.
If you enjoy in-depth company research just like the Marketing Strategy analysis of Mckesson, check out our IIDE Knowledge portal for more fascinating case studies.
Thank you for taking your precious time to read this blog, and do share your thoughts on this case study of the Marketing Strategy analysis of Mckesson in the comments section below.
0 Comments