Market Analysis For Pocahontas County Essay
Market Analysis for Pocahontas County
A market analysis, or market research, helps to understand the community an organization is working for, as well as come up with ideas for the future (Berkowitz, 2011). This is true for any organization, and even more important for smaller organizations, as that may not have a large amount of money to use for new ventures, services, and products. Not to mention the organization needs to determine the best plan of action for their consumers, as well as those that are not yet utilizing the services and products being offered.
Pocahontas Memorial Hospital is a rural county hospital located in Buckeye, West Virginia meant to be the first choice in integrated healthcare for the community they are serving (Pocahontas Memorial Hospital, 2014). Due to the limited amount of hospital beds and rural status of the community that it is serving, a market analysis is needed to determine the true needs of the community. Therefore, the market analysis will ensure that the small amount of money they have will go to the correct products, services, and ventures that are truly needed.
Pocahontas County Market Analysis
Pocahontas County is located in West Virginia with a population of approximately 8,700 people with a downward trend (U.S. Census Bureau, 2014). The county also has a lower than average household income and a higher than average poverty level (U.S. Census Bureau, 2014). Due to the low population per square mile and the…