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HCA353 Marketing in HealthCare

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by

Sineth Pha

on 17 September 2014

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Transcript of HCA353 Marketing in HealthCare

Marketing Objectives
Definition: Measures of accomplishment by which the success of marketing strategies can be measured.
Marketing Strategies
HCA 353
Healthcare Marketing
Tony Nieri
Sineth Pha
Larry Felix

Marketing Strategy
Ch. 2

Market Leader
Market Challenger
Market Follower
Market Niche
Marketing Tactics
Growth Market Strategies
Market Penetration
Market development
Product Development
Diversification
Consolidation Strategies
Divestment
Pruning
Retrenchment
Harvesting
Target Marketing
Mass Marketing
Multisegment marketing
Market Concentration

Product-
and
market- oriented approaches

Organization for Marketing:
Product Based
-
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
Risk
Money = Market Share
Challenges
Focus on area of expertise
*Plastic Surgery vs Pediatrics




Market Based Approach
*Competition targets smaller groups to establish differential advantage.
Challenges
Social Media
Innovation
Get New
PQRSI


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.
Example:
Few health apps have proven useful for both patients and doctors.
Predatory Pricing
- Lowering the prices to eliminate competition

Example: Walmart
- 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
vs
Awareness, Interest, need, and closure

Examples:
Example:
the class activity on lemonade
Target Marketing
Pricing: Price elasticity/inelasticity
4 Ps of marketing+1-Change Strategy
Full transcript