You will identify a product or service for which you will develop a strategic marketing proposal. In your proposal, you must explain the importance of marketing principles as they uniquely apply to Genesis Healthcare . Additionally, you will engage in the marketing process by establishing objectives, analyzing the market environment, and developing a promotions mix for effectively marketing your product or service.
In this assignment, you will demonstrate your mastery of the following course outcomes:
• Explain the importance of fundamental marketing principles and processes as they uniquely apply to healthcare organizations
• Determine relevant marketing objectives and target audiences that support the mission, vision, and values of healthcare organizations
• Analyze healthcare markets to identify sociocultural characteristics, customer needs, and economic factors that influence demand for health services
• Develop strategic marketing proposals by applying the marketing mix to support the mission and brand identity of healthcare organizations
Your strategic marketing proposal should address the following critical elements:
A. Provide a detailed profile of your selected organization. What type of organization is it? What is its mission and vision, its service area and locations, and its major products and services?
B. Describe your marketing initiative in terms of the specific product or service you have selected. Why is it important to the organization? What are the current issues with the product or service? Why is a marketing initiative needed?
C. Explain the relevance of knowing your customers’ needs for marketing your healthcare product or service. Illustrate your response with specific examples of your primary and secondary customers, as well as their needs, wants, and preferences.
D. Clarify the importance of the “four P’s” of marketing as they apply to your healthcare product or service. Illustrate your response with specific examples of how each is or is not relevant.
E. Characterize the relevance of drivers of demand for marketing your healthcare product or service. Illustrate your response with specific examples of factors that drive demand for your product or service.
II. Establish the Context
A. Determine the marketing goals of your initiative. You should develop at least three specific objectives that apply best practices and align to the organizational mission and vision.
B. Analyze the industry segment for your healthcare product or service. Include all relevant details related to population segment and demographics, market size, psychographic or health status segmentation, regulatory influences, payer mix, and key success factors.
C. Identify and describe your target markets. Be sure to include all relevant details related to their demographics, characteristics, preferences, and consumer behaviors. In any area where you are lacking critical information, explain the type of data that you would collect to fully understand your target markets.
III. Market Analysis
A. Conduct a SWOT analysis for your selected healthcare product or service. Be sure to thoroughly analyze the strengths, weaknesses, opportunities, and threats by including at least three items in each category.
B. Assess your organization’s competitors using specific supporting examples. You should address at least two competitors, and discuss at least three strengths and weaknesses for each.
C. Based on your SWOT and competitor assessment, draw informed conclusions about your organization’s current market position and justify your claims with specific supporting examples.
IV. Marketing Strategies
A. Develop a promotions strategy that effectively applies the media mix. Which traditional marketing techniques (e.g., public relations, advertising, sales and sales promotion, direct marketing) do you recommend and why? Defend each of your proposals using specific evidence and principles discussed in the course.
B. Analyze the resource requirements. What are the types of resources you would need for your proposed strategies? What are the categories of direct and indirect expenses to consider?
C. Propose specific metrics for evaluating the success of your marketing proposals. How would you measure success? What sources of data would you monitor and how would that data be interpreted?
V. Conclusions: In closing, defend your overall strategy proposal by illustrating the specific ways in which your recommendations would support the mission, vision, and values of your healthcare organization