Evaluate marketing research tools involved in themarketing process. Use technology and information resources toresearch issues in health services strategic marketing.
Assignment 1: Product DevelopmentDue Week 3 and worth 160 pointsHealth services continue to affect the gross domestic product,and this dramatic transformation has great demands on each dollarspent to deliver patient-centered products. Health care marketingmust be repeatedly applied and practiced strategically to includeenvironmental dimensions, such as technology, socioeconomics,competition, and regulatory.That being said, in today’s global economy, investors andpotential entrepreneurs must tap into the so-called “unexplored”market. In this aspect, health care establishments must utilizemarketing, advertising, as well as sales strategies when pursuingnew customers (e.g., suppose a health care investor wanted to builda small hospital in a rural community); this would entailexploration and logistical experimentation to determine who willpatronize the facility. In an impoverished neighborhood, thefeasibility of having lucrative profits may see diminishingreturns, and so the venture may be not worth the effort. Also,suppose that the potential investor wants to sell mosquitodeterrents (e.g., bedside netting in malaria-infested regions ofAsia or Africa); then it would be wise to investigate the number ofbeds that are actually in the village, and who would be willing topurchase them. These activities take into account the investorportfolio, as well as the feasibility of marketing and selling theproduct. Such exploration also examines competitors, culturaldifferences, and—most important—identification of the customer.Identify a local health care establishment (e.g., hospital,rehabilitation center, emergency medical center) and determine itsproduct development practices. Utilize concepts from previous weeksto substantiate information, as needed. You may develop thediscussion based on the ideas presented here, but feel free toinject any salient marketing strategy that you believe mightsupport your presentation.Write a three to four (3-4) page paper in which you:Justify the purpose of the selected health care establishments’product(s) / service (s) and their associated life cycle(s).Suggest one (1) strategy to improve the marketing mix of theselected health care establishment. Support your strategy byhighlighting one (1) benefit of (1) portfolio analysis andproviding two (2) examples that display differential advantages.Assess the importance of technology in providing patients withclear and accessible information about health care organizationsand the product(s) / service(s) that they provide. Outline a surveyto capture patients’ expectations regarding the delivery and / oraccessibility of product(s) / service(s) identified. Use at leastthree (3) quality academic resources. Note: Wikipedia and otherWebsites do not qualify as academic resources.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; citations and references mustfollow APA or school-specific format. Check with your professor forany additional instructions. Include a cover page containing thetitle of the assignment, the student’s name, the professor’s name,the course title, and the date. The cover page and the referencepage are not included in the required assignment page length.The specific course learning outcomes associated with thisassignment are:Analyze how products evolve through the four stages of theproduct life cycle. Determine the appropriate product successionplanning efforts of health care services. Examine the marketingresearch process and market segmentation strategies in the healthcare industry. Evaluate marketing research tools involved in themarketing process. Use technology and information resources toresearch issues in health services strategic marketing. Writeclearly and concisely about health services strategic marketingusing proper writing mechanics.
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