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Marketing in Healthcare Industry - Term Paper Example

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Marketing in Healthcare Industry Institution Affiliation: Date: Most marketing managers find themselves in a fix of engaging in many activities such as marketing programs supervising staff and all sales that they lack the ideal thing of what they should be actually doing which is concentrating on the big picture…
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Marketing in Healthcare Industry
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Download file to see previous pages A marketing manager should understand the objectives of the firm in general and come up with a corporate marketing strategy which should address the product, distribution channels and tactics to be used. A strategic marketing plan begins by coming up with a strategic business unit that is independent based on management, access to resources, competition, customers and positioning strategy. The major elements that one focuses on include identification of the enterprise, situation analysis, coming up with strategies and control establishment all in a strategic business unit. A marketing plan in most cases involves a description of the product on the basis of any distinctive features presented, a budget for carrying out the awareness which includes the adverts and promotional activities, pricing strategies which depend on the cost of production, market segmentation and a full description of business location. Strategic marketing should also focus on the business environment which firstly will concentrate on the economic variable which will assess whether the economy is in recession or in expansion (Berkowitz, 2011). Secondly, strategy will analyses the impacts of technological on the speed, processes, production and market and try to include this in marketing plan. The third factor is political intervention which focuses on regulations, taxes, reporting requirements and how these influence marketing strategies. Another factor to consider is the social cultural factors which relates to the perceptions of a certain product in different cultural diversities. These are psychological factors that alter the demand patters and the market dynamics bringing about a change in the profits of a firm. Finally, the strategic marketing should focus on internal review process. This checks the management and information systems, competition, budgets, distribution channels, market plan, sales projections, cost analysis and an overall snapshot of the marketing plan. Before a consumer can come up with a purchase, various factors both internal and external influence the decision making process. A person can choose to purchase a product not because it is needed but because of a perception that it is useful. The consumer behavior is determined by internal factors such as feelings, tastes and preferences, while external factors relate to commercials, the marketing abilities of the firm or coupons reflecting the product. However, initial intent must be created before a consumer can make a purchase. The choice made will be influenced by the cost of the product and on evaluation or observation on the quality of the item in question (Berkowitz, 2011). A person may also choose to buy a product out of previous satisfaction on the use of the item. Companies may be interested to ensure that goods being produced for selling should not create cognitive dissonance on the part of the consumer which determines purchase value. The marketing strategy to be adopted by a normal business enterprise is different from that to be used by a health care industry. This is because the target population is different. Whilst the business focused on the overall consumer, the health care focused on a limited class such as the aged, the sick and those in need of medical attention. In this case, their approach is narrowed on that business ...Download file to see next pagesRead More
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