Marketing Strategy of Apollo Hospital – Apollo Hospital Marketing Strategy: India’s first-ever corporate hospital was established in 1983. It has been a pioneer in India’s Healthcare revolution. Dr. Prathap Reddy founded the family-owned business in 1983. Since then, the group has flourished and the new generation has assumed the key role to take it to new heights.
Its patient-centric culture has enabled it to serve more than 50,000,000 patients in 140+ countries around the world.
Apollo Hospital At A Glance – Marketing Strategy of Apollo Hospital
Company: Apollo Hospitals Enterprise Limited
CEO: Dr. Prathap C Reddy
Founder: Dr. Prathap C Reddy
Year founded: 1983
Annual Revenue: US$1.5 billion
Profit | Net income: US$112 million
Number of employees : 62,939
Products & Services: Hospitals | Pharmacy | Diagnostic centres | Home care
Apollo Hospital Competitors
Competitors: ANG Lifesciences India Ltd | Aster DM Healthcare Ltd | Chennai Meenakshi Multispeciality Hospital Ltd | Dhanvantri Jeevan Rekha Ltd | Dolphin Medical Services Ltd | Dr. Agarwal’s Eye Hospital Ltd | Dr. Lalchandani Labs Ltd
Apollo Hospital Fun Facts: Dr. Prathap C Reddy, Founder Chairman of the Apollo Hospitals Group has been conferred with the prestigious Padma Vibhushan, India’s second highest civilian award.
Marketing Strategy of Apollo Hospital
Apollo Hospital’s Marketing Strategy covers various aspects of the business right from segmentation and targeting to the overall mission and vision of the company and the various parameters which the company executes to become the top brand that it has in the market. So what is the Marketing Strategy of Apollo Hospital? Let us discuss.
Segmentation, Targeting, Positioning – Apollo Hospital Marketing Strategy
Segmentation allows for the identification of characteristics among different populations with similar attributes. Apollo Hospital uses demographic, psychographic Segmentation Strategies with variables like age, gender, marital status, and income.
Because Apollo Hospital Group has a wide range of offerings in the Healthcare market it employs a differentiated targeting strategy.
Positioning makes it easy for prospective customers to see a comparison. It uses a benefit and product class positioning strategy.
Mission: “To make healthcare that meets International Health Standards accessible to all”
Apollo Hospital Mission Statement
“To bring healthcare of International Health Standards within the reach of every individual”
Apollo Hospital Vision Statement
“Touch a Billion Lives”
Apollo Hospital Tagline
Competitive Advantage – Marketing Strategy of Apollo Hospital
Wide reach throughout the country: It has been able to penetrate different segments of the market with its presence in tier 1 and tier 2 cities, primary care, specialty hospital care, rural areas, and “Apollo REACH”, hospitals that are aimed at secondary care facilities with 100 to 200 beds.
Integrated Value Cain delivery model: To provide high-quality healthcare services, it ensured that patients received complete packages of wellness, medical and surgical services, such as consultation, Dialysis, Sample Collection, Liver and Bone Marrow Transplants, Spine and Brain Surgery .vitro Fertilisation (IVF), joint replacement surgery, heart and cancer treatments, and kidney treatments.
The company that is financially strong: The company has a market capitalization of Rs. In FY17, 1,62,1102 million were generated by Asia’s most trusted healthcare organization. With a CAGR of 26%, 72,549 Million was generated in FY17.
BCG Matrix – Apollo Hospital Marketing Strategy
Its Healthcare portfolio comprises two operating segments: Primary Care and specialty care.
Apollo Clinic, Apollo Diagnostic, and Apollo Dialysis are all part of Primary Care, while Speciality Care is available in Apollo Spectra Hospitals, Apollo Cradle, and Apollo White Dental.
Apollo Dialysis and Apollo Diagnostics are the question marks in the BCG matrix, while all other businesses are Stars within the BCG matrix as Apollo Hospitals has been a market leader elsewhere (based on the revenue and network of each company).
Distribution Strategy – Marketing Strategy of Apollo Hospital
Apollo hospitals are the dominant player in the Health Care Industry with a strong presence in Pan India. It boasts more than 70 hospitals and 75 Clinics, 7500+ clinicians, 12 Surgery centers, 44 Laboratories, 163 Collection Centers, 38 Diabetic Care centers, and 73 dental care centers. There are also 5 Dialysis Centres, 12 Birthing Centres, and 73 Diabetic Care centers.
Brand equity within the Marketing strategy Apollo Hospital- Since its inception, Apollo Hospital has been synonymous with best-in-class healthcare services throughout the country. Apollo’s brand architecture has made it a prominent player in the market.
Over the years, the brand has received numerous awards and accolades such as the 13 th Best Hospital Award in the Asia Pacific Region and the 2016 Business Superbrand.
Competitive Analysis – Apollo Hospital Marketing Strategy
The Healthcare industry is competitive based on state-of-the-art medical facilities, hygiene standards, forward and backward integration in the supply chains, advanced technology, etc.
Apollo is a competitor to hospital chains like Fortis Hospitals and Dr. Lal Path Labs. With more than 10100 beds and 2500 pharmacies, it is the most comprehensive healthcare provider in the country. There are also 200 clinics all over the country.
Market Analysis – Marketing Strategy of Apollo Hospital
The Healthcare industry is experiencing a structural shift. There are many factors that have influenced the industry’s demand. These include the rise in medical tourism and health care services, the increase in medical tourists in India due to the low-cost Indian healthcare services (approximately one-fifth the cost in other countries), and the improvement in visa facilities for patients by the government.
Urbanization and infrastructure construction have led to a 22-25% increase in medical tourism and healthcare services. The industry will double to $6 Billion by 2018, from $3 billion currently (Indian brand equity foundation: April 207).
Customer Analysis – Apollo Hospital Marketing Strategy
Apollo Hospitals has a wide range of services and has focused on the customer by offering customer-centric differentiation.
More than 400 touch points have been created across the country to make health care services easily accessible. Apollo Hospital provides services for a wide range of customers, whether it’s hospitals, diagnostic centers, labs, or dental clinics.
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