Marketing and health care - Research Paper Example

However, healthcare industry is too diversified and complex which makes it difficult to be treated with a single perspective. Hence, the marketing management problems are also complex with no single solution. This paper looks into factors leading to marketing success of banking sector and has attempted to relate these strategies to healthcare marketing. The concept of marketing incorporates certain important variables like customer focus, profitability, integration as well as coordination of marketing along with other major functional areas like that of finance, human resources, logistics, purchasing and operations as well (Stahl, 2003, p. 348). Now, there is stark differentiation between marketing concepts in different industries and now we will be discussing the differentiation between marketing in banking sector and marketing in health care industry.

The scope of marketing in the banking sector can be considered under the purview service marketing framework. Marketing in banking sector not only include the service selling of the bank but it is also deemed as a function reflecting personality and image for the bank on the mind of its customers. A sizeable number of banks are now applying more customer oriented approach as compared to the fast moving consumer goods marketing counterparts (Withey, 2012, p.33). The marketing concepts of the banks are applied in their price, distribution, promotion, personal selling, and advertising, public relations as well as selling promotional tools.

These fall within the context of marketing mix within the banking sector (Jayarum & Kotwani, n.d., p.421). In terms of commodities and service, health care can be also defined as a product or service but the definition of health care is rather ill defined with the outcome attaches a large scale uncertainty. Larger segment of the industry gets