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Why is it important for all health care managers to understand the key components of the...

  • Why is it important for all health care managers to understand the key components of the marketing concept?
  • What is Market segmentation?

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Expert Solution

MARKETING:-

The American Marketing Association (2013) defines marketing as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. And the marketing concept proposes that in order to satisfy its organizational objectives, an organization should anticipate the needs and wants of consumers and satisfy those needs more effectively than competitors.

MARKETING CONCEPT

The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition. Today most firms have adopted the marketing concept, but this has not always been the case.

Why is it important for all health care managers to understand the key components of the marketing concept?

Ans :- Marketing realizes that the demand for any product is likely to change as the customer's needs change and that innovation is essential to keep pace with changing social needs. The health care industry undergoing profound structural changes. We live in a world where there are acute care clinics on every corner. There is a surplus of supply for the demand for healthcare.

Healthcare marketing is not only for the patients to look for physicians to treat them, but healthcare workers looking for a job and future patients as well. Healthcare is a fast evolving industry and it is extremely important to keep up with the industry by adapting to the changes and keeping patients informed. This is an essential step in the marketing process because keeping the information that is provided timely and relevant is essential for establishing credibility.

Marketing in the healthcare field is important for a number of different reasons, but it must be done correctly and patients as well as possible future patients must be able to trust it. How well your practice is marketed is a direct reflection on how well you know your practice. It is important to know your audience because strategies for marketing vary depending on who the target audience is.

Healthcare marketing allows your practice to experience sustainable growth, but initially, the audience needs to know why your specific practice differs from and is the best decision compared to the hundreds of other practices in their area that serve the exact same purpose.

Marketing is all about strategy. Strategy comes first and the tactics come second. Creating specific healthcare marketing to your target audience will lead to the likelihood of success as well as an increase in income and the best possible medical care to all of the patients.

Medical practice marketing is now a fairly common concept for many physicians. Every practice should have a healthcare marketing strategy in place so you can market your practice better to current and future patients.

Healthcare evolves continuously so you must consider the changes and adapt while keeping patients informed. The way you market your practice is a reflection of how well you know your practice. Also, understand that marketing strategies will be subject to change as well. The tactics that worked five or ten years ago do not apply today. Knowing who you are marketing to including patients and potential employees is important. Strategies for marketing are different depending on who you are marketing to.

WHAT IS MARKETING SEGMENTATION ?

Ans:-  Market segmentation is the process of dividing a market of potential customers into groups, or segments, based on different characteristics. The segments created are composed of consumers who will respond similarly to marketing strategies and who share traits such as similar interests, needs, or locations.

The importance of market segmentation is that it allows a business to precisely reach a consumer with specific needs and wants. In the long run, this benefits the company because they are able to use their corporate resources more effectively and make better strategic marketing decisions.

THANK YOU


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