Formerly, we did the SWOT analysis of Alembic Pharmaceuticals. In this blog, we will be covering the STP and Marketing Strategy of Wockhardt and their market extension and also their long-term goals which have made them a global pharmaceutical and biotechnology company headquartered in Mumbai, India.
Our main objective is to elaborate the alembic pharma’s marketing and understand their strategy which has made its success in the multinational and local market helping them standstill even after 50 years as the market leader and aims to become the global brand and their STP to promote worldwide.
First Let’s elaborate on the company’s story and target audience and digital presence in the following section but if you are keen to learn more about marketing strategy then you should check out IIDE’s Free MasterClass on Digital Marketing 101 by our CEO and Founder, Karan Shah.
Before we get everything rolling, get more familiar with Wockhardt as an organisation, the way things were laid out, its items, its financial position, and its rivals.
About Wockhardt company’s overview
Wockhardt Ltd (Wockhardt) is a drug organisation that fabricates and showcases immunizations, dynamic drug fixings, definitions, and biosimilars. The organisation’s item portfolio takes special care of different helpful regions including muscular health, dental consideration, dermatology, rheumatology, gynaecology, paediatrics, cardiology, torment the board, nephrology, nervous system science, and diabetes.
It likewise packs its examination in new substance elements (NCE), generics, shortened new medication applications (ANDAs), biosimilars, and novel medication conveyance frameworks (NDDS). The organisation works in India, the US, the UK, Ireland, Dubai, U.A.E. What’s more, it has a market presence in Brazil, France, Russia, Vietnam, Mexico, the Philippines, Kenya, Nigeria, Ghana, and others. Wockhardt is settled in Mumbai, Maharashtra, India.
Wockhardt is an Indian-based drug organisation that contributes numerous assets to research, utilising hundreds of researchers with their attention being on the advancement of recombinant biopharmaceuticals, new medication disclosures as well as the creation of conventional medications. A Khorakiwala Holdings and Investments auxiliary, Wockhardt was established in 1960 by Habil Khorakiwala and is settled in Mumbai India.
|Market Share/ Revenue||257.80|
|Vision||‘More & More with Less & Less’|
|Tagline||Healthcare is in our genes|
Marketing Strategy of Wockhardt
Wockhardt pharma company made their marketing strategy to increase the productivity and profitability of formulations, biopharmaceuticals, nutrition products, vaccines and active pharmaceutical ingredients (APIs) and so on to increase the market share values.
Segmentation, Targeting & Positioning
Segmentation – 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.
Wockhardt Ltd is a generics, formulations, and nutraceuticals manufacturing company situated in India. The company specialises in the production of leading generic chemicals, nutraceutical components, and custom API 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 India is Wockhardt. They are now the only firm capable of conducting and patenting clinical trials on patients, as well as manufacturing all of the pharmaceuticals that they can. The corporation is best recognized for researching and distributing medications.
Positioning – Wockhardt is India’s largest pharmaceutical laboratory. They are now the only firm capable of conducting and patenting clinical trials on patients, as well as manufacturing all of the pharmaceuticals that they can. They work on the development and production of a wide range of medical equipment and medications.
Wockhardt’s does not have a great online presence even though they haven’t conducted any kind of campaign. They don’t conduct any kind of advertisement campaign to promote their company.
Wockhardt’s can use the same marketing techniques as its competitors are using. The marketing campaign which they can follow from their competitors is advertising on television, launching an advertisement in newspapers, launching a short corporate film, and other marketing ideas.
Wockhardt’s can launch such advertisements and other media campaigns to increase its presence in India and other foreign countries.
Social Media Marketing
Wockhardt’s company has its digital presents and was founded on major social media platforms but was not consistent posts on platforms like Linkedin, ambition box, Facebook and so on Wockhardt has an overall rating of 4.1 out of 5, based on reviews left anonymously in money control a financial strategy site also where 70% of employees would recommend working at Wockhardt to a friend and 67% have a positive outlook for the business.
Linkedin: 158k followers
Ambitionbox: 644 followers
Facebook: 289k people follow
Instagram: 5k followers
On social media, Wockhardt has the most followers on Facebook. The type of content they produce on this social media is health tips and guidance, national and special day wishes, job-related and on Facebook only about NGO activities.
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, its website has 9k organic keywords and it is good. That means the digital marketing of Wockhardt’s is not up to the mark and is not gaining a fair number of insights. Wockhardts’ digital marketing is not successful in attracting a large number of visitors. The monthly traffic is only in the 34k+ range, which is quite impressive.
Wockhardt is not tied up with any celebrities, sponsorship, or opinion leaders or had any social media campaigns with influencers campaigns. they didn’t do any influencer marketing. All they were doing was Philanthropic and social welfare campaigns through #alembic CSR,#alembic foundation
Wockhardt does not have any online selling portal, it is India’s leading pharma company in B2B, so it does not need an online selling portal compatibility to support its venture.
Wockhardt has a natural B2B business nature so it doesn’t need mobile app compatibility to support its venture
Its content was mainly based on companies growth and its philanthropic campaigns and this will be published in financial newspapers or journals or even in blogs to communicate with its stakeholders and financial institutions.
Wockhardt has its vision, what they are doing now, and where they are trying to ahead in the future.
Their social media content is mostly posted about celebrations of festivals, their industry’s reputations and their industry’s newspaper coverage.
This ends with an elaborative marketing strategy of Wockhardt. Let us conclude our learning below from the marketing strategy of Wockhardt.
Conclusion – What is unique in Wockhardt company’s Marketing?
Wockhardt has been working in the pharma sector, Wockhardt company also does real estate and does the power asset business and also on production in the agriculture sector and the Alembic, which is specialised in wind power Wockhardts is famous for its pharma production and Althrocin brand of erythromycin and drug manufacturing.
Digital marketing is crucial since it links a company with its clients when they are online and is effective across all sectors. It links businesses with ideal consumers through SEO and PPC on Google, social media marketing, and email marketing. If you would like to learn more and develop skills, check out IIDE’s 4-Month Digital Marketing Course to learn more.
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 Wockhardt has given you a good insight into the company’s marketing strategies.
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