Marketing is a process that involves planning and execution of the four marketing mix variables: product, price, place, and promotion.
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 dictionary
Marketing Mix - the major controllable variables
product, price, promotion and place [distribution] - that the firm blends to produce the desired market response; also called the Four Ps.
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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