What is a set of controllable variables that a firm uses to pursue its objectives?
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Marketing is a process that involves planning and execution of the four marketing mix variables: product, price, place, and promotion. Show
Effective marketing for health care organizations involves the recognition of multiple customers or markets that often have a diverse array of needs and wants. In today's health care environment, the satisfaction of the customer is of central concern, as health care systems are financially rewarded or penalized based on a standardized instrument (HCAHPS) that measures patients' perspective on hospital care. A nonmarket-based approach to planning is one in which the conception of the service begins internally within the organization. Marketing-based planning is an external-to-internal process. There are three distinct hallmarks to a market-driven approach to planning: It is characterized by an inside-outside-inside approach to planning; there is market research at the point of needs assessment and pretesting; and there is a customer-driven differential advantage. The strategic marketing process must consider the broad macro environment consisting of stakeholders, environmental factors, and society at large. Health care marketing planning requires identification of the target market, which may differ from the organization's present customer base. In a product-oriented organization, services are managed as separate profit centers, or strategic business units. There are three variations of service line structures: matrix structures, direct line structures, and clinical co-management structures. In a market-oriented organizational structure, major markets or customer groups are the focus. It is particularly suitable when there is a strategic need to have a close relationship with the customer and strategies are highly dependent on relational value. Often customers in this situation have diverse and complex requirements. Market-driven organizations have three hallmarks to their culture. They are customer focused, results driven, and have a strong awareness of the competition. Marketing success has four prerequisites: pressure, capacity, vision, and actionable steps. The marketing paradigm is shifting from a transactional focus to a customer-retention strategy. The structure of the health care industry is evolving. There are three main customers: corporations, MCO's with new health insurance options like health savings accounts, and consumers!
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Marketing dictionaryMarketing Mix - the major controllable variablesproduct, price, promotion and place (distribution) - that the firm blends to produce the desired market response; also called the Four Ps. Back to previous Browse A-ZSelect a letter to find terms listed alphabetically.
11.The ___________ is the set of controllable variables that the firm use to influence the buyer’s a. All of the answers are correct b. Management Process c. Marketing Mix d. Marketing Strategy 12.Barriers to entry is part of ___________. a. Threats of new entrants b. Market Rivalry c. Competitive Advantage d. All of the answers are correct 13.The ___________ is how much the consumer will pay. a. Product b. Promotion c. Price d. Place 14.___________ describes the unique features of products and services provided to customers that is different from any competitors in the market. a. Selling Features b. Value Proposition c. Unique Product d. None of the answers are correct 15.The ___________ is a customer segment which focuses on a wide range of potential customers. a. Management Strategy b. Mass Market c. Niche Market d. All of the answers are correct 16.___________ is the way you let your customers know about, sell, deliver, and maintain your products and services. a. Marketing Strategy b. Management Process c. None of the answers are correct d. Distribution Channel 17.SWOT Analysis components are ___________. a. Opportunities b. Strategy c. Weakness d. Both A & C are correct 18.___________ includes strategic assets needed to launch, maintain, and improve the business, product or service. a. None of the answers are correct b. Business Resources c. Strategic Vision d. Product Mix 19.___________ gives a better understanding of the kinds of risks that the company might face and its possible consequences a. Strategic Planning b. Managerial Support c. All of the answers are correct d. Human Resources 20.Risk management is an ongoing process that involves ___________ the impact of the risk event. a. Mitigating b. Processing c. All of the answers are correct d. Increasing Is the set of marketing tools that the firm uses to pursue its marketing objectives in the target market?Marketing mix is a set of marketing tools that a firm uses to pursue its marketing objective in the target market.
What are the controllable variables?In a decision problem, variables whose values are determined by the decision process and/or decision maker. Such variables are also called decision variables.
What are the controllable variables in marketing mix?product, price, promotion and place (distribution) - that the firm blends to produce the desired market response; also called the Four Ps.
Is the set of controllable variables that the firm can use to influence the buyer's response?According to Philip Kotler “Marketing Mix is the set of controllable variables that the firm can use to influence the buyer's response”. The controllable variables in this context refer to the 4 'P's [product, price, place (distribution) and promotion].
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