The Client: Makin Laboratories, a leading pharmaceutical manufacturer in Indore, MP, India.
About the Company: With the mission of “Moving towards a healthy world”, the client is the 8th WHO-GMP certified (in Herbal & Nutraceutical Healthcare) facility in the world. The company also exports to countries like Uganda, Kenya, Ethiopia, the Philippines, Liberia, Malaysia, Russia, UAE, and Ghana.
The Challenge: The company wanted to launch an e-Commerce Store along with selling on popular eCommerce aggregator platforms in India.
The P42L Solution: Our meeting consolidated our original thought that the client needs a data-driven approach towards product and market research and formulate an informed execution strategy to help grow their businesses.
We proposed a 5-step solution and execution strategy:
- Automated data scraping and RPA for data collection for competing brands
- Deep competition analysis (via text and product feedback sentiment analysis)
- Creating a Time-Series Analysis to map a competing brand’s product growth
- Forming a go-to-market strategy and assistance with marketing & branding
- MIS Reporting Platform
Result: P42L completed the project in a duration of 60 working days. Our final deliverables included:
- The brand launched its eCommerce channel
- Created a significant share of the market in a competitive and cost-effective way amongst its peers
- The data also aided in the analysis of the right market and sales channels.
- Launched e-commerce channel
Launching an e-commerce channel helped the company gain new customers and better exposure to the market. It reduced costs in many ways. Further, the company could enable deals and offers through the channel. The channel also turned into a source of abundant information.
-Refined business strategies
Implementing automated data scraping and RPA helped in product and market research, which provided a competitive edge to the company. Through data-driven market research, the company could formulate better marketing and sales strategies. Time series analysis aided in understanding the market trends.
-Better operations management
MIS reporting platform allowed them to easily extract information from various management systems and deliver reports to operational managers. It provided a complete view of business processes and identify areas of improvement leading to enhanced decision making.