3 BRANDING STRATEGIES VITAL FOR THE INDIAN NUTRACEUTICAL INDUSTRY

In the robust pharma industry, the nutraceutical sector is one of the fastest-growing segments. The Indian nutraceutical industry is projected to reach 3.5 % of the world market share in a matter of three to four years. The pandemic has played a very important role in propelling India to reach the same. As we have mentioned in our previous blogs nutraceuticals are different in their approach in many ways so their branding strategies also require a little more of a tailored orientation. A few important and fundamental insights include:

Break down demand:

The overall demand for nutraceutical products is now on the rise, especially after the impact of the pandemic. The emphasis is now on leading a holistic, healthy life with a preventive approach. Speaking about the nutraceutical sector, we need to break the demand with a much more niche focus. For instance, there are vegetarian, non-vegetarian as well as vegan supplements designed to cater to the specific needs of the markets. We need to have a proper breakdown of the market demand in terms of changing trends and patterns of demographics to design strategies accordingly. Else we will tend to face customer loss in three different ways due to the lack of focused strategies:

  • the customers tend to shift to large players who have a prominent presence
  • will opt for cheaper options ignorant of your quality offerings
  • will gravitate to ones that are fairly visible.

Transparency backed by science:

Today the consumers are well informed. They have a thorough knowledge of what is actually needed for them. They also analyse and research well before making any purchase. So, our marketing and branding strategies should take a more transparent method. You ought to communicate and put in black and white what your company offers. Sufficient proofs and evidence should be divulged about various aspects like the composition, benefits etc. Each and every word communicated to the target audience should be backed by proper factual data. This will enhance the credibility of your nutraceutical company and convert your customers into hardcore loyals.

A personal touch: 

Apart from tailored product offerings, our communication should also be tailored and focused. Micro or nano communication is one of the strategies that can pay off. W.r.to nutraceuticals, we need to reach each and every individual’s inclination towards health, wellness and other aspects. Let it be functional foods, sports drinks, nutritional supplements or medically formulated foods, this kind of personal touch is extremely important. And this is possible only through the internet. You can divide your website or your catalogue based on health goals. This will allow your brand to effectively integrate a plethora of products and address the personal lifestyle goals of every consumer and help them to attain effective solutions through your product offerings. The Indian consumer market has a very young demographic portfolio with an average age of 28 to 30 which mainly relies on the internet for a majority of their buying decisions. So, the internet is a very powerful media to be used by all nutraceutical manufacturers.

Finding the right partners: 

At times, this type of more concentrated and focused marketing might require extra effort, time and work. One option is to onboard strategic partners like contract manufacturing companies with cutting edge manufacturing facilities like Aries Drugs Pvt Ltd. can prove to be handy. We will be able to leverage the equipment, time, space, and expertise of such third-party manufacturers and go ahead with less hassle. It will also help us in establishing strategic relationships too.

Last but not the least, remember that there is no one strategy that fits all sizes and times. We just need to keep updating them and flow in the direction of the market, to stay in play.

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