Marketing Mix Of Healthcare Products Medicare Discussion Help

Each reply must be at least 450 words and contain at least 2 scholarly, peer-reviewed references, in addition to the

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course textbook, and 1 instance of biblical integration. The references must be cited within each reply and cannot be repeated from the thread or in any other reply. APA Format Classmate #1Marketing Mix Businesses operate solely on the functioning operation of having consumers for their products or services. This is how targeting the market is an important aspect of marketing (Berkowitz, 2017). A company must make a decision on what part of the market to focus their attention on (Berkowitz, 2017). A company may want to market everyone, one market segment, or multiple segments with different marketing mix diversity (Berkowitz, 2017). To narrow down the market to meet specific needs a company may decide to segment the market to a specific need. Marketing segmentation is “the process of grouping into clusters of consumers who have similar wants or needs to which organization can respond by tailoring one or more elements of the marketing mix” (Berkowitz, 2017, p. 236). This allows developing a marketing mix that is particularly attractive to selected segments, which leads to more efficient marketing spending in the short term and competitive advantage in those segments in the long term (Ernst & Dolnicar, 2018). In using this process, one specific segment of the market can be targeted, which is referred to as a concentration strategy. By focusing on just one specific market segment, a firm can “tailor its strategy in an attempt to solidify its position in the marketplace” (Berkowitz, 2017, p. 237). The concentration strategy has many different forms; one variation that focuses on niches is called a niche strategy. A niche is recognized as a narrow segment with specialized products or services (Berkowitz, 2017). Also, the multisegment strategy is targeting multiple segments in the market in which a distinct marketing strategy might be developed for each group (Berkowitz, 2017). In this scenario, when targeting a specific group such as middle-aged, white-collar professionals who are married, with both spouses working outside the home the medical group might tailor its marketing mix to appeal to this group. According to the Oxford English Dictionary middle age is “the period between early adulthood and before old age, usually considered as the years from about 45 to 65” (Oxford University Press, 2019). This is considered a niche group because it has a specific age group where the majority will meet the description of married, white-collar professionals that both spouses work outside of the home. When developing a marketing plan to appeal to the needs of the middle-aged population it is important to promote areas of consideration that meet the needs of this niche group. “Less than 50% of people over the age of 65 are up-to-date with core preventive services” (Kim, Strecher & Ryff, 2014, pg. 16332). These results mean that the middle age group will be considering healthy life-changing habits such as preventative care, annual check-ups, eating habits, and exercising. Also considering health insurance coverages that apply to a family plan and coverage for chronic diseases. Strategies that adjust for age, gender, ethnicity, marital status, education level, and income segmentation have an increase in the results for sales and customers (Kim, Strecher & Ryff, 2014). The marketing plan should identify factors that may increase the likelihood of using preventive health care services (Kim, Strecher & Ryff, 2014). Preventative care is important for the middle-aged niche group. For medical groups to specialize in this market can benefit this segment in long term care which can increase overall health and decrease hospital stays (Kim, Strecher & Ryff, 2014). The Bible mentions that we are preparing for the day of his return. Ultimately, we are applying preventative care to our eternal life by holding on to the promises of God. “For while bodily training is of some value, godliness is of value in every way, as it holds promise for the present life and also for the life to come” (1 Timothy 4:8, English Standard Version). References Berkowitz, E. N. (2017). Essentials of health care marketing. Burlington, MA: Jones & Bartlett Learning. Ernst, D., & Dolnicar, S. (2018). How to avoid random market segmentation solutions. Journal of Travel Research, 57(1), 69-82. doi:10.1177/0047287516684978 Kim, E. S., Strecher, V. J., & Ryff, C. D. (2014). Purpose in life and use of preventive health care services. Proceedings of the National Academy of Sciences of the United States of America, 111(46), 16331-16336. doi:10.1073/pnas.1414826111 University Press. (2019). Middle age | Definition of middle age in English by Oxford OOxford Classmate #2The marketing research process is a tool used by health care marketers to assess consumer information or data important to the success of the organization (Berkowitz, 2017). According to the text, marketing research is the “systematic gathering of patient/consumer data that will help an organization identify specific issues of concern to consumers” (Berkowitz, 2017, p. 196). The marketing process contains five key steps, which include problem recognition, identification of research objectives, research design, data collection, and analysis and evaluation of results (Berkowitz, 2017, p. 196). Each step of the process is critical. One of the biggest question marketers are searching to answer is, what customers do we want to attract to buy specific products/services? (Berkowitz, 2017). To answer this question successfully, marketers much understand the process of market segmentation. Crafting a brand message puts the vision, mission, and differentiator information into marketable language for the target audience (Berlet, Hyer, Philbin, Weil, Weil, 2014, p. 432). Berkowitz defines market segmentation as the grouping into clusters of consumers who have similar wants or needs in which an organization can tailor into the marketing mix (2017, p. 236). The purpose of market segmentation is to find specific well-defined, homogenous customer groups in a larger population, which are likely to respond to promotions or service offered (Swenson, Bastian & Nembhard, 2018, p.186). Market segmentation provides insight into healthcare consumers’ behaviors and attitudes. This is critical in an environment where healthcare delivery is moving rapidly towards patientcentered care (Swenson, Bastian & Nembhard, 2018). Awareness of patients’ preferences and styles needs to be taken into serious consideration, as the goal is to have a high patient satisfaction. Strategies to encourage and support consumer engagement in healthcare are important. Increased access to health information can help patients make better and more informed decisions leading to better quality of care, health outcomes, and satisfaction with care (Swenson, Bastian & Nembhard, 2018, p.186). As a worker and patient in the health care industry, having an organization that understands my personal beliefs and attitudes makes me a more compliant patient. It also creates a better environment for an overall better optimized health. As noted in the discussion board, a multi-specialty medical group has decided to segment the market in the community by income level. A good market segment should be identifiable, or easily profiled. In this example, the group has decided to target a small niche of middle-aged, white-collar professionals who are married, with both spouses working outside the home. This particular medical group might tailor its marketing mix to appeal to this segment in many different ways. Sociodemographic will play a large role in determining the marketing mix along with income level. In this example, age has particular relevancy. This group is a small-niche of middle-aged professionals. Being middle-aged, they are more than likely established in their careers, and have reasonably good health insurance coverage. With that being said, products or services marketed towards them might consider membership programs or boutique medicine clinics (Berkowitz, 2017, p. 238). I have personal experience working in a similar type of program. Our program included a specialized clinic for Dare County public employee wellness program. These employees had their own personalized urgent care clinic, where they received personalized health and wellness care. I can see this working in a similar niche group as described in the example. As Christians, we are always striving towards winning souls for Christ. Whether this is welcoming, or ‘attracting’ new members into a local church, or making disciples of God’s nation, Isaiah 1:18-20 says, “Come now, let us reason together, says the Lord: though your sins are like scarlet, they shall be as white as snow; though they are red like crimson, they shall become like wool. If you are willing and obedient, you shall eat the good of the land; but if you refuse and rebel, you shall be eaten by the sword; for the mouth of the Lord has spoken” (ESV). References Berkowitz, E. (2017). Essentials of health care marketing (4th ed.). Sudbury, MA: Jones & Bartlett Learning. Berlet, G. C., Hyer, C. F., Philbin, T. M., Weil, L. S., & Weil, L. (2014). Health care marketing: How to get a leg up on the competition. Foot & Ankle Specialist, 7(5), 432433. doi:10.1177/1938640014550244 Swenson, E. R., Bastian, N. D., & Nembhard, H. B. (2018). Healthcare market segmentation and data mining: A systematic review. Health Marketing Quarterly, 35(3), 186-208. doi:10.1080/07359683.2018.1514734
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