Explaining the importance of Fundamental Marketing Principles and Processes as they uniquely apply to Healthcare Organizations


The project is divided into two milestones, which will be submitted at various points throughout the course to scaffold learning and ensure quality final submissions. These milestones will be submitted in Modules Three and Five. The final submission is due in Module Seven.

In this assignment, you will demonstrate your mastery of the following course outcomes:

Explain the importance of fundamental marketing principles and processes as they uniquely apply to healthcare organizations

Determine relevant marketing objectives and target audiences that support the mission, vision, and values of healthcare organizations

Analyze healthcare markets to identify sociocultural characteristics, customer needs, and economic factors that influence demand for health services

Develop strategic marketing proposals by applying the marketing mix to support the mission and brand identity of healthcare organizations

Prompt Your strategic marketing proposal should address the following critical elements:

I. Introduction

Provide a detailed profile of your selected organization. What type of organization is it? What is its mission and vision, its service area and

locations, and its major products and services?

Describe your marketing initiative in terms of the specific product or service you have selected. Why is it important to the organization? What

are the current issues with the product or service? Why is a marketing initiative needed?

Explain the relevance of knowing your customers’ needs for marketing your healthcare product or service. Illustrate your response with specific

examples of your primary and secondary customers, as well as their needs, wants, and preferences.

Clarify the importance of the “four P’s” of marketing as they apply to your healthcare product or service. Illustrate your response with specific examples of how each is or is not relevant.

Characterize the relevance of drivers of demand for marketing your healthcare product or service. Illustrate your response with specific examples of factors that drive demand for your product or service.

Establish the Context

Determine the marketing goals of your initiative. You should develop at least three specific objectives that apply best practices and align to the

organizational mission and vision.

Analyze the industry segment for your healthcare product or service. Include all relevant details related to population segment and

demographics, market size, psychographic or health status segmentation, regulatory influences, payer mix, and key success factors.

Identify and describe your target markets. Be sure to include all relevant details related to their demographics, characteristics, preferences, and

consumer behaviors. In any area where you are lacking critical information, explain the type of data that you would collect to fully understand your target markets.

Market Analysis

Conduct a SWOT analysis for your selected healthcare product or service. Be sure to thoroughly analyze the strengths, weaknesses,

opportunities, and threats by including at least three items in each category.

Assess your organization’s competitors using specific supporting examples. You should address at least two competitors, and discuss at least

three strengths and weaknesses for each.

Based on your SWOT and competitor assessment, draw informed conclusions about your organization’s current market position and justify your

claims with specific supporting examples.

Marketing Strategies

Develop a promotions strategy that effectively applies the media mix. Which traditional marketing techniques (e.g., public relations, advertising,

sales and sales promotion, direct marketing) do you recommend and why? Defend each of your proposals using specific evidence and principles

discussed in the course.

Analyze the resource requirements. What are the types of resources you would need for your proposed strategies? What are the categories of

direct and indirect expenses to consider?

Propose specific metrics for evaluating the success of your marketing proposals. How would you measure success? What sources of data would

you monitor and how would that data be interpreted?

Conclusions: In closing, defend your overall strategy proposal by illustrating the specific ways in which your recommendations would support the mission, vision, and values of your healthcare organization.

Milestones

Milestone One: Draft of Introduction
In Module Three, you will submit a draft of your introduction. Your introduction will include a profile of the organization, a description of the specific product or service including the marketing opportunity, the needs of the target market, the promotions mix, and an explanation of the drivers of demand. Use the feedback you received on the Module One journal and the Module Two short paper to assist you in developing your introduction. This milestone is graded with the Milestone One Rubric.

Milestone Two: Draft of Context and Market Analysis
In Module Five, you will submit a draft of your context and market analysis. Establish the context for your healthcare product or service, and analyze the market. To establish the context, you will describe the industry segment, describe your target markets, and specify the marketing goals and objectives. In analyzing the market, you will conduct a SWOT analysis, assess the competitors in the market, and determine the current market position. This milestone is graded with the Milestone Two Rubric.

Final Submission: Strategic Marketing Proposal
In Module Seven, you will submit your strategic marketing proposal. It should be a complete, polished artifact containing all of the critical elements of the final product. It should reflect the incorporation of feedback gained throughout the course. This final submission will be graded using the Final Project Rubric.

Final Project Rubric
Guidelines for Submission: Your proposal should be 8–10 pages using 12-point Times New Roman font and double-spacing. Any citations should be in APA

format.

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