Purpose of the selected health care establishment product
Marketing Management
Health services continue to affect the gross domestic product, and this dramatic
transformation has great demands on each dollar spent to deliver patient-centered
products. Health care marketing must be repeatedly applied and practiced
strategically to include environmental dimensions, such as technology,
socioeconomics, competition, and regulatory.
That being said, in today’s global economy, investors and potential entrepreneurs
must tap into the so-called “unexplored” market. In this aspect, health care
establishments must utilize marketing, advertising, as well as sales strategies
when pursuing new customers (e.g., suppose a health care investor wanted to build a
small hospital in a rural community); this would entail exploration and logistical
experimentation to determine who will patronize the facility. In an impoverished
neighborhood, the feasibility of having lucrative profits may see diminishing
returns, and so the venture may be not worth the effort. Also, suppose that the
potential investor wants to sell mosquito deterrents (e.g., bedside netting in
malaria-infested regions of Asia or Africa); then it would be wise to investigate
the number of beds that are actually in the village, and who would be willing to
purchase them. These activities take into account the investor portfolio, as well
as the feasibility of marketing and selling the product. Such exploration also
examines competitors, cultural differences, and-most important-identification of
the customer.
Identify a local health care establishment (e.g., hospital, rehabilitation center,
emergency medical center) and determine its product development practices. Utilize
concepts from previous weeks to substantiate information, as needed. You may
develop the discussion based on the ideas presented here, but feel free to inject
any salient marketing strategy that you believe might support your presentation.
Write a three to four (3-4) page paper in which you:
Justify the purpose of the selected health care establishments’ product(s) /
service (s) and their associated life cycle(s).
Suggest one (1) strategy to improve the marketing mix of the selected health care
establishment. Support your strategy by highlighting one (1) benefit of (1)
portfolio analysis and providing two (2) examples that display differential
advantages.
Assess the importance of technology in providing patients with clear and accessible
information about health care organizations and the product(s) / service(s) that
they provide.
Outline a survey to capture patients’ expectations regarding the delivery and / or
accessibility of product(s) / service(s) identified.
