Due Week 3 and worth 160 points
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:
1. Justify the purpose of the selected health care establishments’ product(s) / service (s) and their associated life cycle(s).
2. 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.
3. 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.
4. Outline a survey to capture patients’ expectations regarding the delivery and / or accessibility of product(s) / service(s) identified.
5. Use at least three (3) quality academic resources. Note: Wikipedia and other Websites do not qualify as academic resources.
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