Brand analysis of Fortis Healthcare, a leading integrated healthcare provider in India
When it comes to marketing plans, the first rule of thumb is to know your target audience. However, when the sector in question is healthcare, the audience is extremely vast and diverse. Therefore, marketing strategy in this case significantly differs from companies from other sectors. One such chain of hospitals that has succeeded in doing so is Fortis Healthcare which is among the top 30 healthcare providers in the world. Headquartered in Gurgaon, the company has over 45 hospitals under its umbrella in prime locations across India and even in Dubai and Sri Lanka. Currently, its share price stands at almost 139 while its market capitalization is over Rs 10,000 Cr.
Unlike other sectors, in healthcare, brands cannot be built solely on communication and advertisement. Therefore, Fortis strongly positions itself as a company that delivers its brand promise in the hospitals and through patient experience and not just through brand communication in the digital world. The fact that it emphasizes educating and communicating with the patients as means of influencing consumer behaviour is what sets Fortis Healthcare apart from others in the healthcare domain. Thus, attributing to its consumer-first approach, the healthcare chain has grown tremendously over the years by constantly innovating the way it reaches out to customers with time. In addition to this, its focus on continuous improvement, experienced professionals, comprehensive patient care, accreditations, and the vast network of hospitals under its aegis, are some of the reasons that Fortis has such a strong presence in the Indian healthcare industry today.
The company seeks to harness the power of digital and social media going forward, to address the changing needs of people. Additionally, it plans to stay at par with consumer behavior and build a strong brand presence through community connect, organ donation, CSR, etc. Community Connect has always remained an integral pillar of the healthcare chain wherein it engages with people on a community level through free camps, discussion on various health topics, etc.
While there is no doubt in the fact that Fortis Healthcare is one of the leading healthcare chains in India, one of the major drawbacks is the price factor. The affluent people or upper-middle-class can afford to get the treatment they need however for laymen especially those hailing from remote parts of the country, the usual treatment cost at the hospitals under Fortis Healthcare can be slightly out of the pocket. Furthermore, a review by Marketing91 also highlighted the increasing number of beds as one of the major drawbacks of the healthcare chain as this can negatively affect the experience of patient stay and the company in turn for the long run.
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