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HCA353 Marketing in HealthCare
Transcript of HCA353 Marketing in HealthCare
Definition: Measures of accomplishment by which the success of marketing strategies can be measured.
Growth Market Strategies
market- oriented approaches
Organization for Marketing:
Company has a unique capability or expertise that allows it to position itself within market
Product Differential Advantage
*MD has unique approach to treating AIDS or Cancer
*Advantage goes to most resourceful competitors
Maintaining the advantage amongst other companies/providers that bring similar or identical approach with lower prices
Preference or Benefits change or diminish
Imitators saturate market causing problems for companies w/ differential advantage
Money = Market Share
Focus on area of expertise
*Plastic Surgery vs Pediatrics
Market Based Approach
*Competition targets smaller groups to establish differential advantage.
Critical Success Factors for HealthCare Organizations marketing
Establish differential advantage via unique approach to either health care delivery or health care products.
Example: Unique website that demonstrates differential advantage
A complete Patient Relationship Marketing (PRM) cloud-based software system automatically educates, informs, and markets to your future patients, opportunities, and existing patients.
Few health apps have proven useful for both patients and doctors.
- Lowering the prices to eliminate competition
- Elastic vs Inelastic
Changes in Price cause Changes in Demand for Product/Service
- The more elastic something is the greater demand will be effected by price
- If something is Inelastic the demand will be high no matter what the price is
Promotion, Price, product, and Place
Awareness, Interest, need, and closure
the class activity on lemonade
Pricing: Price elasticity/inelasticity
4 Ps of marketing+1-Change Strategy