...Why Your Healthcare Practice Needs a Marketing Plan Evangeline E. Towry MHA626: Strategic Planning & Marketing in Health Care Dr. Monica Scales December 2, 2013 Why Your Healthcare Practice Needs a Marketing Plan Marketing is healthcare, like any business, is essential to the livelihood of the overall business. Healthcare marketing is all about building relationships within the community, building trust, displaying expertise and, eventually, gaining new patients. In healthcare marketing, you need to identify the needs of your patients as well as the needs of the surrounding community. This will allow you to formulate strategies to help your healthcare organization fulfill its vision and goals. Reasons for a Marketing Strategy The main focus of a marketing plan is for the overall success of your healthcare organization. “If you plan nothing, nothing will be accomplished” (kmccoypbo, 2009). Your marketing plan is a set of guidelines to help you achieve the organization’s vision and goals. According to Catalyst Marketers (2013), a Strategic Marketing Plan provides business owners with: 1. A map for achieving yearly goals. 2. The ability to track success through individual tactic performance measures – Performance measures should be setup for every Marketing Tactic. 3. An understanding of the time, and budget needed to execute on the Strategic Marketing Plan. Three Necessary Considerations The three necessary considerations to taken into...
Words: 768 - Pages: 4
...Unit One IP: Principle of Marketing Unit One IP: Principle of Marketing By Porschia Cullen AIU Abstract The following material will reflect the Industry of Home Healthcare and the service it provides. Also to mention, this material that is discussed coincides at a marketing level and addresses key points of the marketing world and how home healthcare service contributes to society . The key points of interest that will be discussed are the following: Describe the function of marketing and demonstrate its importance to the overall success of the organization, Illustrate the environmental forces that effect marketing, Demonstrate investigative/research skills, Demonstrate a systematic approach to the application of relevant marketing tools to a variety of situations, Analyze the major challenges facing marketers, Identify the reasons why it is essential for the marketing department to collaborate with other departments in the organization in order to be effective, Demonstrate information processing skills. Therefore an understanding of marketing lingo, its contributions and how home healthcare service interacts within marketing. When discussing marketing and a service or product, there are a few factors that coincide with how and why a service or product distributes to society. Society is the overall dollar sign and determines how much a service or product will earn in revenue. When referring to marketing there is a simple formula that is...
Words: 1183 - Pages: 5
...671/MK490 HealthCare Marketing Fall 2014 Instructor: Dr. Douglas J. Ayers Office: 204B BEC Office Phone: 205 934-8856 Home Phone: 205 910-5861 email: dayers@uab.edu Office Hours: Wednesday and Thursday 1:30 – 4:00 and by appt. Readings: Various readings from the trade press – typically from Marketing Health Services (available via UAB databases) and Harvard Business School (available via UAB databases and via direct purchase from Harvard Business School Press) For those with no background in Marketing, I recommend Capon’s Marketing Framework as an inexpensive but complete marketing text (www.axcesscapon.com) For those seeking a concise overview of the U.S. healthcare system I recommend “Essentials of the United States Health Care System” by Leiyu Shi and Douglas Singh. Course Description The class is designed for master level students seeking employment in the healthcare industry. It is also appropriate for seniors in Medical Equipment Sales and Distribution. The primary objective of this course is to provide students with a comprehensive overview of the marketing fundamentals in the health care environment. Health care organizations face special challenges in implementing marketing strategies. These challenges will receive considerable coverage. The course also examines health care organizations as customers in a B2B environment. As a result of completing the course, students will understand the marketing challenges...
Words: 1468 - Pages: 6
...STRATEGIC HEALTHCARE MARKETING Indian School of Business Term 7 January 6th – February 16th 2014 Thani Jambulingam Ph.D Associate Professor Pfizer Fellow, Arrupe Center Research Fellow Department of Pharmaceutical & Healthcare Marketing Saint Joseph’s University Philadelphia, PA 19131 THANI JAMBULINGAM PH.D. Associate Professor in the Department of Pharmaceutical and Healthcare Marketing at St. Joseph's University, Erivan K. Haub School of Business, Philadelphia, PA. Currently he teaches in Executive Pharmaceutical and Healthcare MBA program (both traditional and online formats, MBA program and undergraduate program in Pharmaceutical and Healthcare Marketing. Thani was instrumental in starting the undergraduate and online programs at SJU. He served as the chair of the pharmaceutical and healthcare marketing department from 2003-2010. Ranbaxy in sales and at Glaxo Inc. in sales and marketing for several years before he returned to school and completed his Ph.D. at University of Wisconsin, Madison. His research interests are in health care marketing, strategy, supply chain and pricing. His work has been published in several journals, such as the, International Journal of Pharmaceutical and Healthcare Marketing, Journal of Medical Marketing, Journal of Pharmaceutical Marketing and Management, Journal of Commercial Biotechnology, Journal of Research in Pharmaceutical Economics Journal of International Marketing, Journal of Operations Management...
Words: 2101 - Pages: 9
...Chapter 6- Health Care Marketing 1. According to Buchbinder & Shanks, (2012) marketing is defined as the process of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, and society as a whole (Buchbinder & Shanks, 2012, p. 96.). The main principles of marketing are to satisfy customers, target the 'right' customers, facilitate exchange relationships, stay ahead of competitors and enhance profitability. These principles are essential for managers to understand and satisfy their customers in the health care industry. The person receiving care must be pleased with the services received from the health care facility, and the health care facility must likewise be satisfied with the financial reward received in the exchange. The hospital that adopts the key components of the marketing concept is likely to identify patients needs, provide products and services at an acceptable price and stress the benefits through promotion. The most important reason to satisfy customers seeking medical service is that they will become repeat customers or users of the facility. Consumers want to feel they are getting the most value for their money, and this includes the health care industry. Therefore, marketing mainly consists of satisfying target customers while striving to seek their loyalty and consumption. 2. In the past, healthcare organization were slow to incorporate marketing because many felt it was an inappropriate and unethical...
Words: 1194 - Pages: 5
...Position The success of Metabical product launch is critical to both CSP company and to the marketing director Printup. In order to achieve the long-term steady market goal, CSP need to identify their optimal target customer, appropriately position the Metabical product, and implement an efficient communication strategy. CSP should treat overweight women with BMI less than 30 at the age between 25 and 65 as their optimal target customer for the Metabical pill. Based on the product advantage, Metabical should be positioned as the most effective, safe, sustainable, and leading prescribed weight-loss product on the market. Communication strategy will be the most crucial part of the marketing strategy. CSP should target at healthcare providers and end consumers to ensure the efficiency of customer communication. They should focus on addressing the different concerns that those two groups hold. Utilizing advertising, promotion and pubic effort, and sales force is the right marketing strategy for CSP. However, CSP should not ignore the effectiveness of celebrity spokespeople to market the product. The support program is an essential part of the marketing communication strategy. An organized timeline for the marketing strategy will make sure the implementation of the strategy. Argument According to the market research and study, CSP should target at over weighted women at the age from 25 to 65. More specifically, CSP should target at women with BMI less than 30 to ensure the effectiveness...
Words: 1453 - Pages: 6
...This essay will explain the difference between marketing in the Business and Healthcare industry by discussing the key aspects and impacts of the external environment with each industry. I will develop and address the issues presented by customers want and needs in aspect of the healthcare professional and debate the need for marketing in the hospitals versus clinics. As a healthcare provider of a clinic, explanation will be given to differentiate the advantages of my clinic of choice versus other clinics. Marketing and business development in the business industry are processes of cultivating ongoing relationships that lead to deep trust and long-term value-exchange between the business and their stakeholders to develop and maintain purpose-based relationships. Marketing is all about putting customers/patients at the heart of the business and responding to their needs and wants toward implementing a mission and goal. In a challenging economic climate, the customer needs to trust that the product offers something unique in terms of style, quality and sustainability - these all derive from strategic planning. Business ethics can be powerful marketing tool and should form a key part of your marketing strategy when combined with the quality and style of the product. Dell Computer is a great example of bold and daring marketing that has endured. When the computer industry was employing nothing but conventional wisdom and selling through complicated and profit-draining distribution...
Words: 1235 - Pages: 5
...Ethics in Healthcare Marketing Marketing Healthcare Services Assignment 4.2 Ethics in Advertising Paper Abstract Marketing healthcare services is entering a new age. Traditionally, medical organizations refrained from marketing their services for fear of getting tangled in a mess of third party oversight, kick-back rule violations, and the simple fear that healthcare services would cause a conflict of interest. In this day and age healthcare organizations are ever increasing attempting to market their services to gain more patients and increase the viability of their organization. Ehtics in Healthcare Marketing Marketing healthcare services was never the “in” thing for organizations to do. With so many rules and regulations from third parties overseeing the actions of medical centers, many were fearful to get involved in ethical issues when attempting to market services. As we enter the technology age however, patients are beginning to increasingly use the internet and all other media sources to learn more about their care and disease states. People today are “cyberchondriacs”; when was the last time you searched a disease state or your signs and symptoms online prior to making an appointment? In the ever increasing competitiveness of the healthcare industry, more and more organizations are marketing their services in hopes to improve the public knowledge of the services the organization can offer, in the hopes to gain more...
Words: 1032 - Pages: 5
...Kaluyu HSA: 500 February 12, 2012 By 2030 it is estimate that the United State population will be over the age of 65. The baby boomer generation although active will be placed a financial burden on the country due the need of healthcare. With the uncertainty of MEDICARE the prospect maybe bleak, and long term care will be essential for the aging impact that about to occur. In order to get a grasp on the impact and the need for long term healthcare we have comprehend the important of non-profit and profit hospital, what are the growing trends; what are the difference between hospital and nursing home, and what is the current state of United State long term care. Describe the differences between non-profit and profit hospital Most people do not give much thought rather a hospital is non-profit are for profit, but there is a strict difference between the two. Non-profits hospital typically accepts anyone with a medical need who comes into their doors, regardless of their ability to pay for the services. Because of their willingness to except any all patient non-profit hospitals receive tax exemption. Also, non-profit hospitals are much busier than profit hospitals. In larger urban cities non-profit hospital are extremely essential to their community. Most of these type of hospital emergency room stay busy. Television show like ER is a visional testament to how non-profit operate. Many people without insurance especially in today’s economy use non-profit services...
Words: 882 - Pages: 4
...Monika Nanchahal HA 575: Healthcare Marketing Unit 9 Assignment: Marketing of Acute Healthcare October 03, 2017 Monika Nanchahal Good Healthcare Facility Downingtown, PA. 19335 9/02/2017 Barbara Greene Chairman of the Board of Directors Chester County Chamber of Commerce 123 W Street, Downingtown, PA 19335- Dear Mrs. Greene, REF: A PROPOSED MARKETING STRATEGY FOR DOWNINGTOWN HOSPITAL I am writing this letter to introduce that my name is Monika Nanchahal and It gives me immense pleasure to announce the upcoming grand opening of my new Acute Care facility called Good Care Facility in Downingtown. I am hoping this fill the needs of the Chester County people as they must travel distantly for their treatment....
Words: 850 - Pages: 4
...Healthcare Analysis Dennis P. White University of Phoenix HCS 539 August 24, 2015 Dr. Rachael Kehoe The healthcare system here in the United States is complicated and expensive. In order to stay competitive, insurers and organizations alike have changed the way they do business. The implementation of the Affordable Care Act has created new laws and have in some cases caused organizations to partner with each other in order to profit at all. They have instituted new and different processes and strategies to be able to participate in the insurance exchange program and other features of the healthcare law that is supposed to make it easier and cheaper to purchase healthcare (Benson, 2013). This paper discusses how healthcare organization develops a marketing plan that allows them to be competitive and see growth. The four P’s of marketing (product, price, place, promotion) will be discussed along with the hospital relationship between marketing and partnerships. It will discuss the target market and why it is important to understand that the target market is key to a comprehensive and successful plan. The Four Ps In order for any hospital marketing strategy to be successful, it must first incorporate the four P’s. The hospital must assess the market, analyze the data and then identify or develop their product, determine a price point, what place the customers will purchase the product, and how they are going to market the product so customers know it’s available...
Words: 895 - Pages: 4
...Group Case Study 1 Report HAS 6149 Group 3 Florida International University Background Information Yunnan Baiyao Group Co., Ltd. (YB) is a state-owned enterprise in China. Through more than a hundred-year history, Yunnan Baiyao had become a household brand in China for its unique traditional herbal medicines that were effective in the treatment of open wounds, fractures, contusions and strains. However, along with the rapid changes of the pharmaceutical industry in China and the maturity of YB’s products, they are reaching a bottleneck. In order to help YB to extend its life cycle and stabilize its profit, YB had to look for new growth areas. The options of product diversification and market diversification have risen. In this case study, our mission is to decide which option above is better for the development of YB based on our analysis. SWOT Analysis Strengths Long history and respected reputation in China and other Asian countries. Year 2012 is the 100 anniversary of YB, as a brand with 100 years history, YB is well-known in China, as well as in Singapore, Malaysia, Thailand, and Vietnam. For a long time till now, this respected brand always with the image of trustful, healthy, and organic. In 1996, Yunnan Baiyao Company integrated other three producers into a sole owner of Baiyao-Yunnan Baiyao Group Co. (YB). By this means, YB can strengthen its brand reputation and standardize the products’ quality. A diversified and vertically integrated player...
Words: 2496 - Pages: 10
...remain a competitive force in today’s business world, it must be aware of the shifts taking place that will affect them. Social media, advancements in technology and awareness of consumer behavior are three shifts currently taking place in the healthcare field. Knowledge of how these shifts work to improve health care is beneficial to assist health care organizations in providing quality care. Social media has grown in popularity in the last decade. Health care organizations have begun to utilize social media to reach out to their consumers and provide preventive, managed health care. “Social media provide people with additional opportunities to enhance their knowledge and their ability to care for themselves, and online communities are attracting older and broader audiences” (Thielst, 2013, p. 3). By using social media to communicate and collaborate health care providers and consumers can work together to develop a plan of care. Advancements in health care technology have changed the way that health care is diagnosed, treated, monitored and delivered to consumers. Communication between patient and provider has increased, and patients are more actively involved with their health care. Various types and uses of technology across the healthcare industry include but are not limited to electronic health record (EHR), computer provider order entry (CPOE), bar...
Words: 1177 - Pages: 5
...Distinguish the marketing approach that a health care marketer would take to handle products and services to a marketer of consumer goods. An approach to marketing is important to know and analyze the different views that marketers have about the future. This vision of the future will strongly condition the entire strategic planning of marketing for healthcare. In order to continue to thrive, companies must acquire and keep customers. As a result, marketing and sales has become an area of increasing focus for companies of all sizes. Marketers create an effective marketing strategy is based on a five-step process: 1: Understanding the market climate and marketing strengths and weaknesses 2: Developing a marketing strategy 3: Building a marketing plan 4: Implementing the plan 5: Monitoring the success of the plan (Burgemeister, 2003). A solid marketing strategy provides a roadmap to creating and delivering true value to distinct groups of customers. All successful marketing strategies must begin and end with the customer, they cannot be an afterthought or taken as a given, so marketers must test their assumptions about their customers constantly. These are the thing that goes into a marketing strategy. A cohesive combination of: Targeting—to whom are you going to market your products and services? Positioning—how are you going to differentiate yourself from competitors? Product/Service Attributes—what attributes/features will the product/service have? Marketing Communications—how...
Words: 2111 - Pages: 9
...Marketing Strategies of Pharmaceutical Company: A Study on The ACME Laboratories Ltd. Abstract In the modern world, Bangladesh’s pharmaceutical industry plays a vital role. For pharmaceutical company there are some limitations on product promotion through the mass media, such as radio, TV and/or News paper. Thus, the total marketing system depends on marketing team. This paper presents the findings of the study conducted on the ACME Laboratories Ltd. to examine the marketing system. This study reveals that the ACME Laboratories Ltd.’s products are consumed allover the country and also globally. Their motive is to maintain the quality of the product to cope up with the existing competition. Their objective is to treatment the disease, they also set a reasonable price by considering the middle class people to get some benefit from the ACME Laboratories Ltd. They follow all possible distribution channels to make their product available to the customers and at a comfortable place. The ACME Laboratories Ltd. has also endeared to strength its network in international marketing operation to export products abroad. The company provides some motivational tools to the internal sales team. The company provides fringe benefit to these people. It is the most successive tool for the company. From the study we find that the ACME Laboratories Ltd. is a socially responsible company, and practice ethical values. From the study it has appeared that the ACME Laboratories Ltd. is facing some minor...
Words: 5228 - Pages: 21
