Competition, Marketing Mix, and Pricing

Assignment 2: Competition, Marketing Mix, and PricingDue Week 8 and worth 300 pointsFor this assignment, use the same health care provider as in Assignment 1.Write a four to six (4-6) page paper in which you:Determine the key characteristics of the users of the products and/or services of the health care provider you selected.Analyze the competitive environment of the health care provider you selected and recommend a course of action for strategic marketing success.Determine which tools of the marketing mix available to health care providers would be most effective for the health care provider you selected.Determine the best possible pricing strategy for at least one of the products or services offered by the health care provider you selected.Provide at least three (3) qualified sources, e.g., peer-reviewed journals, professional organization Website, or health care provider Websites.Your assignment must follow these formatting requirements:Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.Include a cover page containing the title of the assignment, the studentâ??s name, the professorâ??s name, the course title, and the date. The cover page and the reference page are not included in the required page length.The specific course learning outcomes associated with this assignment are:Analyze the competitive environment of a health services organization and identify a course of action that will allow for strategic marketing success.Analyze the users of the health care system.Describe the various tools of the marketing mix available to health care providers.Use technology and information resources to research issues in health services marketing.Write clearly and concisely about health services marketing using proper writing mechanics.Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills.
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Running head: MARKETING AND THE HEALTH CARE SYSTEMS
Marketing and the Health Care System
Name
Institution
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MARKETING AND THE HEALTH CARE SYSTEMS
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Marketing and the Health Care System
Introduction
Health care trends frequently change as a result of the changing business environment in
the world and specifically in the United States. Healthcare marketing is the new approach being
adopted by most of the healthcare providers to cope up with the stiff competition and the
changing customerâ??s tastes and preferences. The HCA healthcare has also ventured into
healthcare marketing to expand its market and still maintain its current customers. This paper
critically analyzes the impacts of HCA marketing, strategies to determine the utilization of its
products, HCA marketing strategies, and how HCA can influence buying decisions of its
customers.
Impacts of HCA Health Marketing
The intensive healthcare marketing conducted by the HCA health Centre has brought
about enormous implications in the operation of the hospitals. First, HCA health Centre has
expanded its market to most of the regions in the United States and abroad. According to every1integrated campaign for HCA healthcare UK, the hospital has branches in Virginia, Colorado,
Florida and Texas as well international centers in the UK. Notably, the HCA holdings have a
total of 165 hospitals in us which serves the large market they have across the country (Patrick,
2014). The number of patients who seek services in the hospital has significantly increased over
time as a result of the continued awareness and publicity. Strategic marketing in highly
populated areas has enabled it to cope with the competition posed by government hospitals in the
regions. For example, HCA holding has a firm grip on the Florida market which has enabled it to
open more than a quarter of its branches in Florida.
MARKETING AND THE HEALTH CARE SYSTEMS
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Also, healthcare marketing has increased the brand awareness and significantly boosted
its customer relations. Gone are the days when patients would visit any hospital near them. The
modern patients are ready to travel a long distance to visit a health Centre that gives satisfactory
services. The HCA hospital has extended its wings to formerly underestimated customers and
established its presence. The frequent interaction between the hospital and the patients has
cemented the much-desired customer loyalty. The increased awareness and personalized
customer relations have enabled HCA holdings to provide an estimated 5% of all healthcare
services in the United States of America (Patrick, 2014). Healthcare marketing has made it easier
for HCA holding to maintain its reputation and goodwill which it has built over time (Media,
2016). With the competition in the health services, the hospital has been able to stand out
regardless of the normal unethical situations caused by other hospitals. The hospital has been
able to instill trust in their customers to retain their position in the market. The many marketing
strategies used by HCA makes it easier for customers to adapt to any changes that are being
made in the operational systems of the hospitals since the patients believe that all that the
hospital does is for their wellbeing.
Strategies to Determine HCAâ??s Product and Services Utilization
HCA holdings keep track of their progress using different project management tools that
determine its growth and effectiveness of the marketing strategies it employs in the market. To
begin with, HCA operates product research through; paid searches, social media platforms and
personal interactions (every1-integrated campaign for HCA healthcare UK). HCA uses geotargeting strategies in specified geographical areas where their target group is found to ascertain
whether the customers/patients have ever used the products or services from any HCA branch
MARKETING AND THE HEALTH CARE SYSTEMS
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and their reaction on how the services were conducted. Some of the searches are paid to attract
more responses from which, HCA can analyze the progress of its services and products in the
market. The research is usually done through mobile phones to cover a wide area and access a
large number of people.
In addition to paid searches, HCA holdings also use online digital platforms like social
media pages to determine the utilization of its products. On its social platforms such as
Facebook, Twitter and Email accounts, HCA requests for customer reviews which enables them
to track down their progress in the market. The online questionnaires provided determine the
awareness of the product and services to the customers, the number of times the patients have
used them and the willingness of the customer to continue using the products and services.
Furthermore, HCA holdings employ personal interactions between its employees and the
customers either during services delivery or through in reach exercises where customers and
patients are questioned on their usage of the HCA products and services. Patients who visit the
hospitals are examined of how often they access the HCA hospitals and how often they use drugs
and other medical stuff from HCA.
Marketing Strategies for HCA Hospitals
The marketing strategies used by HCA hospitals frequently change to maintain market
relevance and withstand competition from other hospitals. The approach adopted by HCA is
dependent on the target group, the location of its target customers, the population of the target
group and the technology advancement being applied by competing firms. One of the strategies
used by HCA holding is the diversity marketing strategy through social media platforms. The
most effective marketing strategy in HCA holdings is the diversification strategy (Patrick, 2014).
MARKETING AND THE HEALTH CARE SYSTEMS
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HCA holdings diversified most of its non-core businesses to cover more stable economies that
will ensure that if one sector is weak, it is mitigated by another industry in another region
(Patrick, 2014). The services and products marketed by the HCA hospitals are often personalized
and customized based on the customerâ??s beliefs, taste and preferences as well as cultural
grounds. Also, as previously indicated HCA hospitals use social media marketing to invest in
customer engagement. Given that most of the modern customers prefer online transactions and
service delivery, the patients can access the health experts in HCA hospitals online which had
increased the efficiency of service delivery since it can be done anywhere and at any time.
Patients can consult health experts after which the health experts direct the patients of where and
how to access the HCA hospitals or drugs to remedy their issues.
HCA influence on Buying Decisions of its Customers
Patients and general customers go through a decision-making process before they settle
down on which product and services to purchase and from which company or organization. For a
company to increase the chances and the probability of the customers deciding to buy its
products, several attractive factors must be present. The company needs to stand out and do
something different from the other competing firms in the market. Some of the recommended
elements are fair pricing, post-purchase engagement and vast information on the customers.
The most important way that HCA holdings can use to influence the customer’s decisions
in its favor is through its pricing strategies. Considering that different patients have different
financial strengths, HCA hospitals ought to have a flexible payment strategy that will cut across
the high-income earners, the middle-income earners and the lowly paid customers. The prices
must not be too high that they scare away the middle and the low-income earners and also it
MARKETING AND THE HEALTH CARE SYSTEMS
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should not be too low to avoid it seeming to be ridiculous which might force out the high profile
customers and also suffer loses as a result. The hospital should evaluate the financial bracket of
its customers and fix a reasonable price that will favor the customers.
HCA hospital should engage in post-purchase evaluation where aftersales services or
customer care services are offered to diminish the chances of regret from the customers. PostPurchase services cement the satisfaction of the patients and are also a sign of gratitude for
selecting the company. Significantly, most of the customers tend to go back to the organization
where they were treated properly after their initial purchase. Lastly, HCA should gather vast
information about their customers that will enable it to be aware of the customer needs. The data
collected should allow the hospital to take its services and products to where there is a need. At
times, the customers and patients have no time to think of the best service provider based on the
urgency of the need and so, the service provider who steps in when the customers are in urgent
help influences the future buying decisions of the customer.
Conclusion
HCA hospital has widened its market as a result of the active marketing strategies it has
adopted. The diversification strategy has been the most effective marketing tool as well as the
social media platforms and research used to determine their position in the market. Appropriate
pricing, best aftersales services, and customer knowledge are the best ways that HCA hospital
can use to influence the decision making of their customers.
MARKETING AND THE HEALTH CARE SYSTEMS
References
Every1: 392% Roi Delivered For Worldâ??s Largest Private Healthcare Brand. Retrieved from
www.helloevery1.com|work|hca-casestudy
Media. September 15, 2016. The importance of healthcare marketing. Retrieved from

The Importance of Healthcare Marketing


Patrick. Dec 8 2014. Market realist: HCAâ??S diversification strategy. Retrieved from:
https://marketrealist.com|hca-diversification-strategy
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