Assignment 1 : Marketing And The Healthcare System

3. An orthopedic group practice has decided to develop a pediatric sports medicine program. Identify potential target markets for this new service.

This paper pertains to the marketing of Health Care Services and provides the steps and history of marketing in health care and the effects of marketing on the health care delivery system from 1950 to 1990. It introduces the health care consumers and their role in the marketing process as well as the factors that influence consumer behavior. These factors influence the success of marketing in health care. It also provides the requirements for successful marketing and current techniques and strategies used by health care organizations.

This paper will introduce a product and service which operates in the U.S. with the intent to expand within foreign markets eventually. The service that I chose is a current service in the food service industry that does exist but would benefit from enhancing it; there are market trends for the new service that would definitely satisfy potential customers’ needs and wants once the idea is brought to their attention. The goal is to bring the feel of the city’s fine dining and lounging experience to areas outside the city without having to travel far or spend more. The service is an

Marketing is like a double-edged sword, if it is adopted properly, it will give profits to a company; however, if it is used inadequately, it will give harm. It is undeniable that today’s business operations have more intense competition level against each other due to the advancement of technology that allows people to receive more information. Marketing plays the key role in making products being recognized by consumers. To get people’s attention, some massages about the product need to be sent to the target market. With the high level of competition, the unethical marketing issues arise in order to make their own firms gain more

Marketing is an important tool for any business. It is how a company makes their product known to the public. Without marketing, the consumers will either not know that the product even exists or will not know all the applications of the product; who makes it, what it is and what it is made from, when came on the market, where it can be purchased, how it can help the consumer and why the consumer should even purchase the product in the first place. According to Tom Ash, Marketing is the process whereby demands for products, services and ideas are anticipated, managed and satisfied (2011).

Reaching the target audience is a major factor to achieving company strategic objectives. Marketers are key to the organization’s strategic planning especially as they sit down to align marketing objectives

Over the past four decades, spending on healthcare in the United States grew more rapidly than the economy (Baker, Birnbaum, Geppert, Mishol, Moyneur, 2008, p. 541). Healthcare has nearly tripled its share of national income during this time (p. 543). All aspects of the nation's health system have been affected by this ongoing spending growth. Strategically marketing the development of products and services during this intense competition and uncertainty is vital for any healthcare organization to stay profitable and to ensure continued growth.

The healthcare system faces a myriad of challenges, one of which is how to blend patient-centered care with a competitive edge. However, a healthcare organization can realize this goal by utilizing any of the four generic marketing strategies: market penetration, product development, market development, or diversification. Each of the four strategies can be applied to either competitor-centered or patient-centered marketing. For instance, market penetration is based on mass marketing, built on a foundation of quality, and aims to increase consumer use of services already provided. Product development involves launching a new product or further developing current services offered to the existing market. Product development promotes competition

Medical marketing is a concept that is familiar with many physicians and clinics. It is now a widely accepted notion that without a comprehensive medical marketing strategy, a drug launch would be unlikely be as successful in the acquisition of new target patient population.

In this paper I will be discussing the 5 P’s of healthcare marketing to PinnacleHealth, Holy Spirit and Penn State S. Milton Hershey Medical Center. Follow by how the marketing principles can impact the marketing potential of healthcare organization. Last, I will discuss which healthcare organization has the most promising marketing potential.

The central concept of marketing is the exchange of something of value between the provider and the purchaser. Determining what the consumer need, want and desire and delivering it better than the competitors is the goal of marketing (Longest, Rakich and Darr, 2000). Healthcare is becoming more business oriented and using marketing tactics to increase consumer use of the services and products the health care system offers. Ensuring marketing of the right products and services is successful the organization’s mission and marketing need to be in alignment. This alignment begins with the strategic planning process, which

“Marketing communication is an ever changing field. New theories, new techniques, cultural changes and technological advances all combine to create a dynamic environment within which marketers try to ensure that their messages get through to their target audiences” (Blythe, 2006, p.2). Fill (2005) argues that marketing communications is the way in which organisations reach their target audiences or it is an “audience-centred activity” (Fill, 2005, p.9).

As Jobber(2012) was claiming, the marketing concept is "Achieving corporate goals by meeting and exceeding customer needs, better than the competition". Marketing is the process of telling a true story in an unforgettable manner. As a consequence, it became an essential tool in the competitive business environment. The main objective is to maximize the company 's profit by showing up with stunning adverts. Bearing in mind the development of technology, "It is well known that markets grow by the reduction of unit prices: this is how the computer became a household necessity", this could not be possible without a good marketing strategy (Kapferer 2012, p.205).

The best strategy to market Cardinal Health and its products is through branding which involves having a competitive advantage over the competitors. In the case of Cardinal Health this strategy has enabled them the purchase of a product is not only the end of a sales cycle but the beginning of a customer’s exploration of their product. Cardinal Health’s access to the product manufacturers and their consumers has enabled the company to evaluate the value of the total chain. This opportunity has made Cardinal purchase Pyxis Company. The Pyxis automated drug dispensing machines has made the healthcare company stand out. This is because it is safe and efficient. The machines will therefore strengthen the brand of Cardinal Health’s products as consumers especially hospitals will prefer

Marketing is perhaps the most important activity in a business because it forms the communication bond between the customers and the company, and it’s a key aspect of communicating the value of the product.