Case Analysis 1 Developing A Marketing Strategy
Pestle Analysis described marketing strategy as “the process that allows the organization to focus on available resources and utilize them in the best possible manner to boost sales and gain leverage over competitors” (Pestle Analysis, 2016). In other words marketing strategies are the means by which a company achieves its marketing objectives and are usually concerned with the 4 p’s of marketing. A good marketing strategy will allow the health care organization marketing manager to consolidate its entire marketing goal into a refined and comprehensive plan. According to Walker, Boyd “the purpose of a marketing strategy is to effectively allocate and coordinate marketing resources and activities …show more content…
This refers to how much the healthcare organization is willing to charge their patient for services provided. Pricing is critical to the success of a marketing strategy because cost play an important part in consumer decision to buy a healthcare service or not. Consumers must be assured that they are getting value for the service they are paying for hence the price decisions may involve complex calculation methods to arrive at the right price (Ehmke, Fulton, & Lusk, 2015). Ehmke, Fulton, & Lusk, offered some pricing strategy such as value-based pricing which is based on the consumer’s perception of value of the services they are receiving rather than on the costs (Ehmke, Fulton, & Lusk, 2015). For example in healthcare, the perception might be that they are paying for a high quality and reliable healthcare service that cannot be obtained elsewhere. Another pricing strategy suggested by Ehmke, Fulton, & Lusk is discount. The discount could be based on a reduction in the advertised price or the competitor’s price (Ehmke, Fulton, & Lusk, …show more content…
It will also give you background information about other healthcare organization that you might be competing with. From the research you can also learn about the demographic breakdown within the population, percentage of the population that is employed and the median income. These are information’s that will be vital to the marketing strategy especially when determining the price to charge for service. Step 3
Know your Competitors
It is important to know the competitors in the service area if a healthcare organization is to remain viable in a very competitive industry. For instance it is important to know how many healthcare organizations are within your service area, the kind of healthcare services they are providing, the volume of patients they are seeing and if they are still accepting new patient, if they are using new technology and also the price they are charging for specific services.