Marketing Characteristics Of University Hospital
Determine the key characteristics of the users of the products and/or services of the health care provider you selected.
University is recognized for many services and departments from the Breast Health Center, Heart & Vascular Services, Orthopedics, and etc. Some key characteristics would be mainly people …show more content…
We would implement the 4’s of marketing. Price- With the high cost of healthcare in the U.S., price is among the highest concerns for prospective patients, especially those without comprehensive health insurance coverage. Providers should be aware of any opportunities where they can offer the best care at the lowest price. Placement- Vital services, no matter how inexpensive, must be made available to patients to be effective. Product- Providers must deliver products to patients that can improve their quality of life. Promotion- The promotion of a healthcare provider’s is the most important aspect of …show more content…
The marketing mix is the set of controllable, tactical marketing tools that a company uses to produce a desired response from its target market. It consists of everything that a company can do to influence demand for its product. It is also a tool to help marketing planning and execution. An effective marketing strategy combines the 4 Ps of the marketing mix. It is designed to meet the company’s marketing objectives by providing its customers with value. The 4 Ps of the marketing mix are related, and combine to establish the product’s position within its target markets.
Determine the best possible pricing strategy for at least one of the products or services offered by the health care provider you selected.
Price must support the other elements of the marketing mix. Pricing is difficult and must reflect supply and demand relationship. Pricing a product too high or too low could mean lost sales for the organization. The best possible pricing strategy would be consumer based pricing. Customer-based pricing is where prices are determined by what a firm believes customers will be prepared to pay. Customers are not too bothered what it cost to make the product – they are interested in what value the product provides