In our previous article, we understood in detail the SWOT analysis of Nectar Lifesciences. In this article, we’ll elaborate on the Marketing Strategy of Nectar Lifesciences – India’s leading Pharmaceutical manufacturer.
The objective is to help you understand how NecLife science provides pharmaceutical organisations with market research and manufacturing services.
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In this article, we will discuss our Marketing Strategy of Nectar Lifesciences. Let us begin our deep dive by learning about the company’s history, target audience, and digital presence.
About Nectar Lifescience Ltd.- Company Overview
Nectar Lifesciences Ltd (NecLife) is a pharmaceutical company that conducts research and manufactures active pharmaceutical ingredients (APIs). Process development and optimisation, process scale-up and validation, multi kilo pilot plant production, bulk production, and chiral resolution are all examples of contract research and manufacturing services.
It offers APIs, generics, OTC drugs, empty hard gelatin capsules and menthol. NecPath, NecLife’s speciality subsidiary, also provides in-vitro diagnostic products. Contract manufacture of cephalosporin formulations such as tablets, capsules, dry powder oral solution and granules, and injectables. It has subsidiaries in China, South Africa, India, Korea, Russia, and Brazil. The headquarters of the firm are in Chandigarh, Haryana, India.
Mr Sanjiv Goyal founded the company, incorporated in June 1995. In July 2005, the company went public on the Bombay Stock Exchange and the National Stock Exchange of India. New Silk Route Private Equity invested INR 2.5 billion in the company in 2010. The current revenue is ₹ 31.14 billion with a net income of ₹ 1.05 billion.
| CEO | Amit Chadah |
|---|---|
| Marketing Executive | Vishal Sakpal |
| Area Served | Nectar Lifescience Ltd. currently has a stronghold of API (Active Pharmaceutical Ingredients) & Formulation business in India and other 45 countries across the world such as China, South Africa, India, Korea, Russia and Brazil. |
| Industry | Pharmaceutical Manufacturing |
| Market Share/ Revenue | The estimated annual revenue is ₹ 3114 cr. The current Market capitalisation is ₹ 578.59 cr. |
| Vision | To become India’s leading Global Lifesciences company which creates value for all stakeholders by offering excellence in product quality standards, service and commitment. |
| Tagline | Global Leader in Cephalosporin APIs (Active Pharmaceutical Ingredients) |
Marketing Strategy of Nectar Lifesciences Ltd.
Let’s learn about the marketing strategies of Nectar Lifesciences and how the company executes its marketing strategies.
Segmentation, Targeting and Positioning
Segmentation
Dividing a target market into segments that can contact is known as segmentation. Segmentation divides a market into subgroups based on demographics, needs, priorities, shared interests, and other psychographic or behavioural characteristics that aid in understanding the target audience. Nectar Lifesciences segments itself as a pharma giant that provides market research and manufacturing services for the betterment of the people.
Targeting
A business selects potential customers to whom it wishes to sell products or services. The targeting strategy entails segmenting the market, choosing the most relevant segments, and determining which products to supply to each segment. The primary target customer of Nectar Lifesciences is pharmaceutical organisations. Since they are a B2B company, their main target is other pharmaceutical companies that would like to buy APIs (Active pharmaceutical ingredients)
Positioning
Nectar Lifesciences aspires to be India’s leading Global Lifesciences company, creating value for all stakeholders through product quality standards, services, and commitment. NecLifescience ltd. is based in Chandigarh and operates in more than 45 countries worldwide.
Marketing Campaigns
Nectar Lifescience Ltd. has not conducted any marketing campaigns to promote their business, but they have a CSR program for the betterment of women in society. Below are the details of the CSR activity.
Nectar Polytechnic for Women
On May 18, 2010, Nectar Lifesciences Limited established a charitable, registered vocational institute called Nectar Polytechnic for Women (A unit of Nectar Lifesciences Charitable Foundation) under Act XXI of 1860.
Vision
- To be a leading polytechnic that provides innovative, ethical, and moral knowledge, particularly to rural and underprivileged students, while raising their living standards by empowering women through technical education.
- To achieve excellence in all areas of academics and to educate and motivate people for quality education in various disciplines such as art, social science, and general management, among others.
- Keep your health and awareness in check.
- To provide education to all people, regardless of caste, colour, or creed.
Mission
To elevate its status to a centre of excellence in Women’s technical education by a conscious and consistent enhancement of its performance.
- The journey so far
- The seed was sown in June 2008 to open Nectar Polytechnic for Women to give back to society and empower women in rural India.
- The Nectar Life Sciences Charitable Foundation was established in July 2008, and Derabassi was the institute’s location in September of that year.
- Finally, on the auspicious day of Durga Ashtami, April 3, 2009, the institute was inaugurated.
- On May 18, 2009, I received a certificate of registration of societies under Act XXI of 1860.
- In 2010, it was designated as a PTU-authorized learning centre.
- In 2011, I began taking classes in the villages.
- We visited six villages and educated nearly 180 girls.
- Almost 90% of the students are self-sufficient.
- So far, almost 1000 girls have been educated.
Other CSR projects
- The company will also devote a portion of its annual CSR budget to education and skilling initiatives, supporting organisations that do good work in education and encouraging other social organisations to implement education projects.
- Promoting Healthcare and Preventive Healthcare: Preventive healthcare has not been instilled in Indian society, particularly in rural areas, resulting in untold suffering. The Company’s CSR program will emphasize preventive healthcare, one of the most important human development indicators, to meet the needs of society. For the CSR program, various medical institutions/hospitals where poor and marginalized people are treated have been identified.
- Eradicating Hunger/Safe Drinking Water: A major public health issue, particularly in developing countries where the majority of diseases are waterborne. The CSR activity for this project will include identifying areas and providing the necessary equipment for safe drinking water. Also, the funds will be used to combat hunger, poverty, and malnutrition, as well as to assist the poor and marginalized.
- Relief/Donations: The CSR program will also respond to calls for national duty and contributions of amounts for eradicating hunger and poverty, establishing homes for senior citizens, and promoting sports, malnutrition, and animal welfare, among other things.
Social Media Marketing
Nectar Lifescience Ltd. has a minimal social media presence. They are on LinkedIn and Facebook.
Facebook: https://m.facebook.com/Nectar-lifesciences-limited-206815246018649/
LinkedIn: https://www.linkedin.com/company/nectar-life-science/
Nectar Lifescience Ltd. has 10,035 followers on LinkedIn and around 462 followers on Facebook. They have their website as well.
They are not active on their social media. Their website has information about the products they deal in and their company. Their website is not an e-commerce website, and one can not buy directly through their website.
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SEO Strategies
The number of organic keywords is 366, which is below 500, and it is terrible for the company’s website. The organic monthly traffic on their website is 12,308, which is not a good number.
There is no other option for SEO strategy, and sadly, Nectar Lifescience Ltd. does not employ it to its maximum potential. However, the graph shows that organic traffic climbed from roughly 9,000 to 12,000 from November 2021 to April 2022.
Influencer Marketing
NecLife sciences have not tied up with any celebrity or influencer.
Ecommerce Strategies
Nectar Lifesciences does not have any online selling portal; they directly approach pharmaceutical companies and provide generic drug products, contract research, and manufacturing services.
Mobile Apps
Nectar Lifescience does not have any mobile application as they do not sell their products directly to the customers.
Content Marketing Strategies
Nectar Lifescience is present on Facebook and Instagram, but no content is updated on their handle, and they mainly focus on giving range on their website only. Their website has information about their products, business areas, investor relations, CSR activity, Etc.
This ends our elaborative marketing strategy of Nectar Lifesciences. Let us conclude our learning below from the marketing strategy of Nectar Lifesciences.
What’s Unique in Nectar Lifesciences’ Marketing?
Nectar Lifesciences is a mega pharmaceutical company in India that manufactures generic drug products. The company is the global leader in several oral and sterile cephalosporin drugs.
Unfortunately, Nectar Lifesciences does not use any marketing strategy as they directly deal with pharma companies in providing generic drug products. Nectar Lifesciences has a shallow presence when it comes to social media. They currently have their Facebook and Linkedin pages active, but unfortunately, they Published no content on the handles.
The company must focus on hiring digital marketers and marketing professionals, in the hopes that they will consider this step to achieve the desired results.
Since the pandemic, the importance of digital marketing has increased dramatically, and it is here to stay; it is moving from a “good to have” to a “must-have” skill.
Almost every other firm, like Nectar Lifesciences, is striving to boost its digital presence and, as a result, is looking for digital marketers. 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 Nectar Lifesciences has given you a good insight into the company’s marketing strategies.
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