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.
Justification of The Villages Regional Hospital Associate Life Cycle The Villages Regional Hospital (TVRH) is part of the Central Florida Health Alliance (CFHA) which has been…show more content… Different targeted audiences have different perceptions, preferences, and needs. The healthcare marketer needs to devote significant attention to branding throughout both changing environments (Fortenberry, 2010, p. 77).
Benefit of Portfolio Analysis
Lederer and Hill’s Brand Portfolio Molecule analyzes an organization’s brand in a multidimensional view. Every organization should have a brand portfolio which categorizes how the organization identifies its goods and services in order to distinguish their product offerings from the competitors (Fortenberry, 2010, p. 76). According to Lederer and Hill’s Brand Portfolio Molecule an organization’s product offerings are synergistically related. The Brand Portfolio Molecule identifies a large central or lead brand. This brand represents the most influential brand with the organization’s portfolio. Lederer and Hill also identify the strategic and support brands which influence customer purchases. The network of relationships that exist amongst the brands whether positive or negative provide a map for the marketer to manage the current product offerings the portfolio represents (p. 77).
Two Examples that Display Differential Advantages Strategic and tactical initiatives are two examples of utilizing differential advantages to improve marketing performance. Each initiative offers a differential perspective or advantage. Tactical marketing focuses