Question

Discuss how you would approach marketing a medical office building versus marketing for retail tenants.

Answer 1

Nowadays health care industry is facing historical changes due to demographic shift, economic challenges and legislative moves. It is necessary to make a right approach towards marketing a medical office building that provides easy access for medical service to increasing population. Medical office buildings have a unique marketing mechanism. It's necessary to have an idea about the demand and supply of medical facility so that proper space can be reserved within the medical office building. We can market medical office building by maintaining the outer and inner look of the building and it should be easily accessible to a large number of population. It should be located in a huge traffic area. According to the demands of people we can collect data for the renovation of future medical office building.

Retail tenants need a strong marketing approach to increase their sales volume. To successfully retain retail tenants, it is necessary to know their desires for stores and outlets.

First of all it is necessary to provide a traffic generating location for the retail tenants. There should be good flow of population so that someone may stop and opt for medical service from a retail shop.

Secondly, a store should be in a visible place so that it can be accessible easily. Mostly, those shops are on the roadside, people prefer to buy their necessities from that shop as it is easily accessible from their point.

Thirdly, if there is a hospital nearby a retail shop then it will drag more crowds towards the retail medical shop. So the shop should be in close proximity to a hospital.

Retail tenants should be encouraged time to time by providing them relevant schemes which they can share with their customers, in return, increase their profit margin.