Published by MBA Skool Team, Last Updated: February 20, 2017
Marketing Strategy of Aurobindo Pharma analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Aurobindo Pharma marketing mix, help the brand succeed in the market.
Aurobindo Pharma marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Aurobindo Pharma Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Aurobindo Pharma marketing strategy can be explained as follows:
Aurobindo Pharma is one of the leading pharma brands in India. Aurobindo Pharma product portfolio primarily comprises of antibiotics, antiretroviral, antidiabetics, antiallergics, neuroscience and cardiovascular. This covers the product strategy in the marketing mix of the brand. Aurobindo Pharma products tend to be manufactured with naturals and herbals, as this is the current trend in the pharma industry and consumers are much more concerned about the type or source of medicine which they consume. The in-house expertise of Aurobindo Pharma has helped them augment their product portfolio over the years. In the injection products, the products strive to provide ease in injection procedure and also add-on to convenience. Also in addition to the primary product portfolio, Aurobindo Pharma adds on to the product list with vitamins, minerals and supplements. This targets the beauty segment by making specialized products for hair, skin and nails.
Image: company website
Aurobindo Pharma Price/Pricing Strategy:
Below is the pricing strategy in Aurobindo Pharma marketing strategy:
Aurobindo Pharma’s venture to Over the Counter products is primarily to cater to the needs of economy class people.
This helps Aurobindo Pharma to penetrate the retail market and offer products at a fair price and of the best quality. Their prices are highly stable, not increasing with the cost of materials; this provides them with added advantage of brand recall and makes them highly competitive. In the overseas markets, especially in the US Aurobindo Pharma play the pricing game as the competition is much intense in US. Launching new products with competitive price range makes the market saturated. This explains the marketing mix pricing strategy of Aurobindo Pharma.
Following is the distribution strategy in the Aurobindo Pharma marketing mix:
Aurobindo Pharma is present across the globe. Aurobindo Pharma has its operations in 150 countries, wherein 87% of revenues come from markets abroad. They have also gained expertise in selling drugs in the emerging markets like Brazil. Their venture in the OTC segment has enabled them to cater their products across wide range of consumers. Thus, drugs are easily available to consumers and at a fair price.
Aurobindo Pharma provides adequate range of profits to its distributors, thus making supply chain easy and ready availability of its products across medical stores.
The promotional and advertising strategy in the Aurobindo Pharma marketing strategy is as follows:
With strategic alliances across major drug selling platforms, Aurobindo Pharma ensures that the brands are well recalled by the consumers. Aurobindo Pharma hold regular medical camps in the villages across India. Previously they have undertaken activities such as promotion of education, healthcare, and road safety. Currently they are into hunger reduction promotional activities. They also undertake vocational training to help people gain healthcare education. With such wide range of CSR and promotional activities Aurobindo Pharma gains a good amount of goodwill among customers. Hence, this summarizes the Aurobindo Pharma marketing mix.
About Aurobindo Pharma:
Aurobindo Pharma is pharmaceutical manufacturing company supplying drugs worldwide. It’s a privately-owned company. Headquartered in Hyderabad, India Aurobindo Pharma primarily manufactures antibiotics, antiretroviral and CNS products. Founded in 1986, it started its operations by producing penicillin, and since then Aurobindo Pharma has grown to be one of the largest pharma companies. Buttressed by state of the art manufacturing units Aurobindo Pharma sets itself a class apart in manufacturing sector.
With a revenue of ₹138000 Million, Aurobindo Pharma is one of the top 5 companies in India in terms of the revenues earned. Aurobindo Pharma has invested a lot in their Research and Development centres, such activities make them a tough contender in the highly competitive pharma industry.
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