Health Care Marketing Strategies.”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.In today’s global economy, investors and potential entrepreneurs must tap into the so-called “unexplored” market. In this aspect, health care establishments must use marketing, advertising, as well as sales strategies when pursuing new customers. For example, 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 (such as bedside netting in malaria-infested regions of Asia or Africa). In that case, it would be wise to investigate the number of beds that are in the village, and who would be willing to purchase them. These activities consider 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.Using the health care organization you identified in the learning activity last week, determine its product development practices. Use the 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 relevant marketing strategy that you believe might support your presentation.Write a 3–4 page paper in which you: Justify the purpose of the selected health care establishments’ product(s) / service (s) and their associated life cycle(s). Suggest one strategy to improve the marketing mix of the selected health care establishment. Support your strategy by highlighting one benefit of portfolio analysis and providing two examples that display differential advantages. Discuss the impact of possible economic decline on product-market expansion and how it can affect business planning based on global operating environment. 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.”

Health Care Marketing Strategies

Health care organizations have a responsibility to deliver patient-centered products and services, which requires strategic marketing and advertising efforts to reach new customers and stay competitive in the industry (Kim, 2019). In today’s global economy, it is important for health care establishments to explore and experiment with marketing and sales strategies, particularly when entering “unexplored” markets or introducing new products (Wang et al., 2020). For example, a health care investor may need to consider the feasibility of building a small hospital in a rural community or selling mosquito deterrents in a malaria-infested region of Asia or Africa. These activities require a thorough analysis of the potential customer base, competitors, cultural differences, and the investor’s portfolio. To improve the marketing mix of a health care establishment, one strategy could be to conduct a thorough portfolio analysis. Portfolio analysis involves evaluating the organization’s current products and services, as well as identifying potential opportunities for new offerings (Hitt et al., 2020). By conducting a portfolio analysis, a health care organization can identify the relative strength and weakness of its product offerings, as well as any gaps in the market that could be filled by new products or services (Kotler et al., 2020). Cont…

 

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