Sun Pharmaceuticals Marketing Strategy & Marketing Mix (4Ps)
Published by MBA Skool Team, Last Updated: March 20, 2017
Marketing Strategy of Sun Pharmaceuticals 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 Sun Pharmaceuticals marketing mix, help the brand succeed in the market.
Sun Pharmaceuticals marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Sun Pharmaceuticals Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Sun Pharmaceuticals marketing strategy can be explained as follows:
Sun Pharma is a leading manufacturer of both pharmaceuticals and active pharmaceutical ingredients (API). Sun Pharma has been catering to various therapeutic sectors inclusive of neurology, diabetology, psychiatry, cardiology, respiratory etc. All these product offerings come under its marketing mix. It has always believed on innovating products and coming up with new medicines with major focus on the growing chronic therapies. Sun Pharma has a Patent on a medicine for curing skin lesions. It is gradually shifting towards generic medicines along with patent expiries and the volume driven growth in the pharma market. It provides both Ayurvedic and Allopatic medicines in the form of syrups, tablets, capsules etc.
Some of Sun Pharma’s famous brands include:
• Repace etc
All these give an insight into the offerings of Sun Pharma.
Image: company website
Sun Pharmaceuticals Price/Pricing Strategy:
Below is the pricing strategy in Sun Pharmaceuticals marketing strategy:
Sun Pharma has always try to maintain a reasonable pricing strategy to meet he needs of the local people.
It tries to optimise the operational cost thus help in maintain affordable prices. The pricing policies followed by Sun Pharma is on par with the major competitors in its marketing mix. The consumers are now becoming highly price sensitive. This is a threat to the company. Sun Pharma produces generic medicines at a very low cost thus giving it a competitive advantage. With their diversified product line they have been able to meet both high end and low end products. Also owning a lot of patents under their name has helped them earn a lot of profits. The Sun Pharma company has succeeded in differentiating itself as cost leadership.
Sun Pharmaceuticals Place & Distribution Strategy:
Following is the distribution strategy in the Sun Pharmaceuticals marketing mix:
Sun pharma is one of the leading pharmaceutical industries spreading its business worldwide. It has around 19 manufacturing plants in almost 6 continents. Recently it has set up manufacturing facilities in Mexico, Bangladesh and Brazil. Sun pharma has been spending a lot in its R&D projects and tus leading to various successful endeavours. Sun Pharma has its headquarters in Mumbai, Maharashtra. The plants are located in India, Canada, Egypt, Hungary, Mexico, Us, Brazil, Romania, Ireland, Morocco, Nigeria, South Africa etc.
Sun Pharma has been successfully serving patients in around 150 nations across the globe.
Sun Pharmaceuticals Promotion & Advertising Strategy:
The promotional and advertising strategy in the Sun Pharmaceuticals marketing strategy is as follows:
Sun Pharma follows a very strong promotional and marketing activity in its marketing mix and focusses on reaching the customers everywhere. Their Tagline depicts the intentions of the company and attracts the people. They carry out various television ads ad also spreads awareness through print medias. The Sun Pharma company stresses on niche segment like psychiatry and lifestyle meds etc helping it to grow fourfold to have a revenue. Sun Pharma have also earned awareness through various sponsoring programmes and hoardings etc. they also come up with attractive offers and schemes on meeting the described sales to its agents and distributors. This completes an insight into Sun Pharma marketing mix.
About Sun Pharmaceuticals:
Sun Pharmaceuticals Industries Ltd. Is the second largest Pharma company in India. Established in 1983 by Dilip Sanghvi in Vapi, Gujarat with 5 products for the treatment of psychiatry ailments. Sun pharma has been spreading all around the globe having around 27 manufacturing plants in the world. Sun Pharma has its headquarters in Mumbai, Maharashtra. It manufactures and sells and both pharmaceuticals and active pharmaceutical ingredients. Sun Pharma merger with RanBaxy in 2014, leading to its further growth. This was done majorly to increase its presence in the global market. It has around 35000 employees.
Nearly 75% of the products are exported and around 60% of its total revenue comes from the US market. Sun Pharma has been following acquisitions and mergers as an effective growth strategy.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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