Are you looking for a Marketing Strategy for Piramal Enterprises? Then you are in the right place as we got you covered with a comprehensive study of the marketing strategy of Piramal Enterprises.
So here we have discussed various ways of marketing used by Piramal Enterprises which help them to grow their business in Pharma, Financial Services, and Real Estate. In a previous article, we learned about the marketing strategy of JSW energy, an Indian leading power company.
Marketing is a component of a company’s DNA that can either make it or break it. As users across the world go digital, marketing has tracked them to the digital domain as well. If you are interested in new-age digital marketing, then you should check out IIDE’s Free MasterClass on Digital Marketing 101 by our CEO and Founder, Karan Shah.
We will fully cover the marketing strategy of Piramal Enterprises in this blog. Before we begin our deep dive into the marketing strategy of Piramal Enterprises, let us start by learning the company’s story, target audience, and digital presence.
About Piramal Enterprises – Company Overview
Piramal Group is an international conglomerate having businesses in pharmaceuticals, financial services, and real estate. The company runs in more than 30 countries and has a strong brand reach in over 100 markets.
Piramal Group is a pioneer of trusteeship and ethical business attitude, led by Mr Ajay Piramal, Chairman. The group continues to create long-term value for its stakeholders and the community at large, built on the concept of ‘Doing Well and Doing Good.’ Piramal Group has adopted a dual strategy of organic and inorganic development over its three decades of existence. Piramal Group resolutely pursues inclusive growth while sticking to ethical and values-driven practices, guided by its fundamental rules.
The group was ranked among the top 5 pharmaceutical contract manufacturers in the world by the United Nations on Trade and Development’s World Investment Report 2011. Piramal Enterprises reported that its overall loan book increased by 20% year over year to 56,605 cr. The home finance loan book, which accounts for 11% of the company’s total loan book, increased fourfold to 6,110 cr from the previous year.
|CMO||Siddhika Naik Shah|
|Industry||Conglomerate (Multi-Industry Company)|
|Market Share/ Revenue||$1.9 Billion|
|Vision||“Doing Well and Doing Good”|
|Tagline||Rooted in values, driven by passion.|
Marketing Strategy of Piramal Enterprises
Segmentation, Targeting, and Positioning
Segmentation is the process of breaking a targeted market into segments that may be contacted. Market segmentation divides a market into subgroups based on demographics, requirements, priorities, shared interests, and other psychographic or behavioural traits that help to better understand the target audience. Talking about the segmentation of Piramal Enterprises it has segmented its business into individuals and corporates who are seeking pharma products to achieve healthy living and to facilitate prevention.
Targeting a business’s choice of potential customers to whom it wants to sell products or services. The targeting approach requires segmenting the market, selecting the most relevant segments, and identifying the products that will be supplied in each segment. So here in this case the targeted audience of Piramal Enterprises are middle class and upper-class individuals who frequently purchase pharmaceutical products to fulfil their medical needs.
Positioning is the final phase of the ‘STP’ process, and it focuses on how the customer perceives a product or service in comparison to the competitors, which is critical for gaining a competitive edge in the market. To gain a competitive edge in the market, Piramal Enterprises always positions itself as a quality and affordable pharmaceutical products distributor.
The Consumer Products Division of Piramal Pharma Limited today announced its collaboration with Kareena Kapoor for the Little’s Baby Wipes and Little’s Comfy Baby Pants brand names. She is an example to all new mothers because of her recent childbearing and continues providing the finest healthcare for both of her children.
Little’s, which was founded in the 1980s, features a wide assortment of items for children aged 0 to 4. Over the last three decades, the brand has garnered the trust of Indian mothers by delivering all of their children’s necessities. With the simple insight that infants fall in love with those who look after their smallest belongings, such as their mothers, brand little’s was designed to look after the comfort and health of the babies throughout their lives.
Piramal Pharma’s consumer goods segment has hired actor Ajay Devgn as the brand ambassador for Tetmosol, the company’s main medication. Devgn will be responsible for marketing Tetmosol to customers across India as part of this collaboration, to increase its consumer market reach. Tetmosol Dusting Powder and Tetmosol Plus Cream are components of the brand’s plan to increase its skin infection products.
“We are happy to cooperate with Ajay Devgn to promote Tetmosol to our consumers throughout India and broaden our reach,” said Nitish Bajaj, CEO of Piramal Pharma’s consumer products unit. Because of the high frequency of skin diseases in India due to the tropical environment, we have developed two new product offerings: Tetmosol Dusting Powder and Tetmosol Plus Cream. With his ferocious performances, Ajay Devgn has established himself as one of India’s most popular actors, and he fits in well with our decades-old brand.”
Social Media Marketing
Piramal Enterprises is on Instagram, Twitter, and Facebook, among several other social media platforms. Instagram has the most followers, followed by Twitter and then Facebook. The Instagram and Twitter accounts have between 10 and 12,000 subscribers. The articles are mainly promotional and informative, with a few posts on their new product launch thrown in for good measure.
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, it has www.piramal.com 5,413 organic keywords and it’s considered good. That means the digital marketing of Piramal enterprises is gaining a good number of insights. Piramal Enterprises’ digital marketing is attracting a large number of visitors. The monthly traffic is in the 64k+ range, which is considered the best.
But this is not enough if the company has to set a benchmark in front of its competitors or to remain at its peak in this industry i.e. Piramal Enterprises need to work on its SEO strategies so that it can attract a large amount of organic traffic to their site which leads to an increase in their sales which is good for the company.
With the recent appointment of Rahul Dravid as its Brand Ambassador, Piramal Realty, the real estate business of the Piramal Group, introduced its new campaign “#AtHomeWithDravid.”
The #AtHomeWithDravid campaign is based on a simple premise: “Coming home, no matter who you are or where you go is always a special and reassuring sensation. Piramal Realty hopes to convey a simple message through this campaign: even famous people like Rahul Dravid find solace in their own homes, surrounded by family members.
Sourav Ganguly has joined Piramal Enterprises’ Consumer Products Division as the brand ambassador for the antacid brand ‘Polycrol.‘
India’s Mumbai | 24th of February, 2020: Sourav Ganguly, former captain of the Indian cricket team and current president of the Board of Control for Cricket in India (BCCI), has been named as the brand ambassador for Piramal Enterprises’ antacid brand ‘Polycrol.’
Polycrol, a recognized brand among customers for over four decades, has established itself as a trusted product by giving them immediate relief from acidity. Polycrol, a mint-flavoured liquid antacid, is one of India’s most popular antacid products, and it ranks in the top three in Eastern India, including West Bengal, Assam, and Odisha.
All of Piramal Enterprises’ goods are listed on its website, www.piramal.com, and it is also advertised on netmeds.com. As we can infer that Piramal Enterprises are not listed on various e-commerce websites which is not good for the company as the company has a large chunk of products but has less reach to the consumers. So the management of the company has to work on their e-commerce strategies i.e. they have to list the company on all famous e-commerce websites which lead to an increase in revenue of the company and also increase its reach to the market.
Piramal Group has a Piramal Capital and Housing Finance application. The PCHFL mobile app offers a one-stop shop for all of your loan account information. This smartphone app is simple to use. PCHFL subscribers can use their registered cellphone number to log in to this app.
Content Marketing Strategies
Piramal Enterprises is a social media powerhouse. The contents of the post are linked to the debut of new goods or medication discoveries, as well as public awareness messages. The only way to share material is via Facebook, Instagram, or Twitter. Also, several media such as The Hindu, MoneyControl, The New Indian Express, The Economic Times, and others have published press releases regarding their goods.
This ends our elaborative marketing strategy of Piramal Enterprises. Let us conclude our learning below from the marketing strategy of Piramal Enterprises.
What’s Unique in Piramal Enterprises Marketing?
In the marketing strategy of Piramal Enterprises we saw that Piramal Pharma Limited (PPL), a PEL subsidiary, offers a portfolio of unique goods and services through end-to-end production capabilities and a worldwide distribution network in over 100 countries. Pharma Solutions, integrated contract development, and manufacturing (CDMO) company; Critical Care, a complicated hospital generics business; and Consumer Healthcare, which sells over-the-counter medications in India, are all parts of PPL. It also has a joint venture with Allergan, the market leader in ophthalmic formulations in India.
As we all know, pandemics have impacted every organization, and digital marketing has changed dramatically as a result. A company’s brand image may be made or damaged by applied advertising techniques. Digital marketing enables the construction of successful campaigns as well as the quick rectification of any mistakes. Piramal Enterprises’ social media marketing methods need to be revamped as well as also needs to improve its digital marketing abilities so that its businesses can go to another level.
If you would like to learn more and develop skills, check out Online Digital Marketing Course to learn more. Or else you can attend one of our free online masterclasses held by IIDE’s CEO, Karan Shah which will give you a glimpse into the world of digital marketing.
We hope this blog on the marketing strategy of Piramal Enterprises 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 Piramal Enterprises, 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 Piramal Enterprises in the comments section below.