HCM 325 Module Two Assignment Worksheet NR (1)

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Southern New Hampshire University *

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325

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Business

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Apr 3, 2024

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docx

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3

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HCM 325 Module Two Assignment Worksheet Identify the target market for your selected service. Consider the following methods by which you can segment and describe your target market. Select the three that are most relevant for your project. Conduct research to describe your target market in each of the three areas. Submit your completed worksheet. Do not alter the worksheet or submit the assignment in the form of an essay. For this and all worksheets, you are not required to include a cover page. Complete this worksheet by filling in bracketed text. The Module Two Assignment Rubric will be used to assess the following critical elements : Part I. Target Market 1. Identify the specific target market for your selected service: The hospitals need to understand the needs and wants of their target audience while exploring different marketing strategies to keep them engaged. Part II. Target Market Profile Describe the target market for the service by collecting information using three relevant segmentation categories: 2. Geographic segmentation Understanding the environmental and cultural factors influencing an individual's health behavior and needs allows hospitals to better understand how to improve the health of the target audience. 3. Demographic segmentation Understanding patient demographics can help hospitals provide better care tailored to each patient's unique needs .
4. Psychographic (lifestyle) segmentation By delving more profound than just the outer features of a specific consumer demographic, it becomes possible to gain a more comprehensive understanding of their needs and preferences. 5. Health risk segmentation Market segmentation in healthcare can improve patient satisfaction, health outcomes, and care quality. It helps providers innovate and differentiate their services, gain a competitive edge, and increase profitability. 6. Usage segmentation Identifying high-risk, high-cost patients and understanding the complex care requirements of diverse groups can improve patient care and outcomes through tailored care delivery. 7. Payer segmentation By utilizing the payer market, patients can rest assured that the cost of their procedures, supplies, and medications will be fully or partially covered. Don't let financial barriers become a roadblock to your healthcare needs. Take advantage of the payer market and prioritize your well-being today. 8. Benefit segmentation To improve patient care, healthcare organizations should segment their patients. This helps identify high-risk, high-cost patients, understand their care needs, and tailor care delivery accordingly.
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