Four Stages Of The Product Life Cycle

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.

In our experience with Pharmasim we learned that Marketing decision making must be very sensitive and responsive to everything going on in the industry which is very complex. Consumer responses to marketing tactics can be volatile and unpredictable and no idea is guaranteed to work well. Marketing is a matter of meticulous research, assumptions, planning, and volatility at times. Overall we took away two major points: 1) that it is important to consider the product lifecycle in evaluating how to promote businesses and, 2) that the “Sweet Spot” as a competitive advantage should be the greatest point of consideration when evaluating how to best gain leverage to beat the competition in the minds of

While our understanding has evolved with respect to certain advantages of MCO’s, our understanding of the disadvantages has also grown. This analysis will evaluate the use of MCO’s as a gatekeeper to controlling health care cost and offerings. It will evaluate the advantage MCO’s provide in a rapidly growing market due to the aging of baby boomers. The analysis will evaluate disadvantages that can arise with relying on MCO’s. These disadvantages work against the insurance company forcing a polarizing balance between how much control the MCO should retain over recommendation and provision of services.

To guarantee that its members receive appropriate, high level quality care in a cost-effective manner, each managed care organization (MCO) tailors its networks according to the characteristics of the providers, consumers, and competitors in a specific market. Other considerations for creating the network are the managed care organization's own goals for quality, accessibility, cost savings, and member satisfaction. Strategic planning for networks is a continuing process. In addition to an initial evaluation of its markets and goals, the managed care organization must periodically reevaluate its target markets and objectives. After reviewing the markets, then the organization must

There is a new trend in the health care provider market and the hospital has not stand ahead or abreast of the new trend. Today, it is estimated that 6,400 urgent care centers have been established nationwide (Ferenc & Stempniak, 2015). The American Academy of Urgent Care Medicine reports a higher number, 9,300 urgent care clinics estimation (Ferenc & Stempniak, 2015). Those numbers will grow. It is predicted that the “$14.5 billion urgent care industry will increase by 5.8 percent annually through 2018 to about $18.8 billion” (Ferenc & Stempniak, 2015, p.7). With numbers like that, it benefits the hospital to readjust its delivery of health services to look heavily at the new trend practices. The leaders failed to conduct a market and financial analysis. This may cause the hospital to loose its viability as a competitor. As a result, the hospital cannot identify market trends to stay ahead of the trends and be prepared to meet challenges that come along with those trends. In addition, it has failed to conduct a financial analysis to assess if it is profitable to implement new strategies to meet the market

By 2006 there were only three major health care distributors, Cardinal, Amerisource, and McKesson, all offering the same products and services (Pearce, 2011). But, Cardinal stood far apart from its competition because a larger percentage of their overall operating income came from non-distribution activities. Their portfolio was diversified into distributing pharmaceuticals, packaging them, providing devices to hospitals that automate dispensing of drugs through their Pyxis subsidiary and providing pharmacy services through Medicine Shoppe (Pearce, 2011).

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.

With the evolution of healthcare reform, it is imperative that healthcare organizations utilize target marketing as a way to recruit new business and stay competitive against major organizations. In order to effectively use target marketing a healthcare organization must carefully and precisely identify its target audience, geographical area and needs, as well as any competitors within the geographic area. Thornhill and White state that a unique advantage must be difficult, if not impossible, for other to compete against. Once a complete understanding of the audience and its needs has been established the facility can then start building its program and recruiting key players. In order to stay competitive and an industry leader, it is also

All products have a lifecycle. They begin as an idea that needs Research and Development (R&D) or time to develop. This is a direct cost to the company. Once the product and/or service is ready to be marketed, it goes through five stages: development, introduction, growth, maturity, and decline.

Product, according to Eric Berkowitz (2011), is goods, services, or ideas offered by a health care facility. This is the first area to address in marketing. Products available with in ABC Medical Center are both tangible and intangible. Because the intangible products are harder to evaluate, marketing has “to show the tangible benefits from their use” (Berkowitz, 2011, p. 214). The products that ABC Medical Center has to offer is the availability of diagnostic screening, orthopedic surgery, and physical therapy for its patients. The

Marketing has become so prominent in health care today because the health care system is more and more resembling a business. There are many functions to be performed and many complex and sophisticated skills involved. There has been so much growth and competition that health care is advertised and marketed like any other product.

Nowaday, consumers are mainly focusing on the healthcare marketing. in order for the HSOs/HSs to succeed, they have to know their markets needs, and provide products, services, and ideas. "consequently market-oriented organizations are characterized by a concreted effort to collect, share, and respond to consumer information." (Longest

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.

Third, the effects of the product life cycle, which is “Four distinct but not wholly-predictable stages every product goes through from its introduction to withdrawal from the market: (1) introduction, (2) growth in sales revenue, (3) maturity, during which sales revenue

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