Week Three Assignment_Product Development
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Health Services Strategic Marketing: Product Development
Amelia Brown
Strayer University
Health Services Strategic Marketing
Donna Levesque
04-24-2023
2
Product Development
The selected healthcare organization is Mayo Clinic which is situated in Rochester,
Minnesota. Mayo Clinic’s Service and product lifecycle is amalgamated within the three shields
logo which acts as the initial marketing and branding for extending the “Mayo Effect”. The logo
helps market the healthcare organization’s mission for motivating hope and improving health
coupled with the well-being of individual patients and patient populations. The context is
through ensuring a continuum of cost-effective, safe, and quality person-centered healthcare
outcomes (Comfere et al., 2020). In this regard, there is the underlying focus on integrating
informed clinical practice that amalgamates education and evidence-based research for ensuring
that the needs of the patients, as the consumer base, always come first.
One significant product and service that is marketed by Mayo Clinic is its evidence-based
model of person-centered healthcare. The model underlines the need for steering clinical practice
that is reliant on ethics and compliance standards that guarantees a global healthcare approach.
The context involves the promotion of effective coordination within multidisciplinary
collaborative care teams for ensuring holistic care (Kennedy, 2019). Another important service
and product that is marketed by the healthcare organization is the need for steering a continuum
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of quality improvement initiatives (QI) through innovation, creativity, and the use of current and
progressing healthcare technology trends.
The next product and service that mirrors Mayo Clinic’s brand is the consistency
exhibited in its unitary medical record framework. The basis is through the use of the healthcare
organization’s electronic healthcare records that allow for effective integration of all the
healthcare organization’s departments’ healthcare records. Consequently, there is the generated
aptitude for effective data acquisition, analysis, curation, and facilitation of data analytics for
improved performances and heightened healthcare providers’ and patients’ satisfaction rates
(Kennedy, 2019).
The next model involves the use of effective leadership competencies that are
routinely rotated for improved decision-making, personal and professional experiences, and
steering of a culture of safety.
Approaches for Elevating Mayo Clinic’s Marketing Mix
A significant approach for elevating Mayo Clinic’s, Rochester, Minnesota marketing mix
involves the use of social media marketing. The context is that social media use is a current
growing trend and many people within society are familiar with the use of various popular social
media platforms such as Facebook, Twitter, and Instagram. In this regard, there is a fixation on
creating traffic within the social media platforms for extending awareness about the healthcare
organization’s prowess in steering person-centered healthcare (Chen & Wang, 2021). The main
basis is through communicating Mayo Clinic's "Three Shields" which inspires a continuum of
collaborative clinical practice that is informed through education and improved on by evidence-
based research.
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The use of portfolio analysis by Mayo Clinic is central to ensuring that the healthcare
organization constantly upholds an in-depth insight into the underlying market positioning within
the healthcare industry. The context is through the facilitation of the rationalization of how to
effectively use the healthcare organization's resources and finances that minimizes costs of
operations while at the same time ensuring effective healthcare service delivery (Huebner &
Flessa, 2022). One differential merit that is facilitated by a portfolio analysis is the enabled
aptitude for informing the management on how to direct its healthcare technological investments
and innovations. Another advantage is founded on the generated insight into how to improve the
attraction and retention of professional and experienced clinical teams (Huebner & Flessa, 2022).
Another merit centers on the insight gained in assessing how effective nurse-staffing ratios
improve collaboration efficacies and communication, which in turn minimizes medical errors.
Effect of Possible Economic Decline on Product-Market Expansion and Impact on Business
Planning within the Global Operating Setting
A possible economic decline in product-market expansion reduces the confidence levels
of individual patients and patient populations who act as the consumer base. Consequently, the
consumer base may resort to focusing on cheaper alternatives without necessarily focusing on
the related quality outcomes due to the generated price sensitivity. Additionally, the consumer
base may be forced to rethink if or not to buy the healthcare organization's products or services
altogether (Boyle, 2023). The basis is that they may be unsure if the commodity being marketed
guarantees a value for money. As a result, the healthcare organization may be negatively affected
within the global operating environment through limitations of capital spending, marketing, and
research (Boyle, 2023). A significant basis is through attempting to cut its operating which may
amalgamate with reduced credit access, slow-paced collections, and possible bankruptcies.
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Significance of Technological Innovation for Improving Transparency of Healthcare
Organization's Marketed Products and Services
Technological innovations have helped steer open-ended patient engagements with
healthcare organizations through effective leveraging of the healthcare system for data
centralization. The context aids in the timely locating of beneficial and transparent information
on the given healthcare organization that also upholds confidentiality, privacy, and safety
(Yaqoob et al., 2021).
An example of transparency is through social media marketing whereby
the healthcare organization openly markets its underlying use of evidence-based research for
informing clinical decision-making. The basis helps increase patients’ confidence levels in the
type of product or service being offered which facilitates ease of assessing the value for money
for different healthcare organizations within the market industry (Yaqoob et al., 2021).
Consequently, patients can make confident informed decisions on the type of healthcare
organization to choose.
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R
eferences
Boyle, M. J. (2023, April 5).
The impact of recessions on businesses
. Investopedia. Retrieved
April 24, 2023, from https://www.investopedia.com/articles/economics/08/recession-
affecting-business.asp#:~:text=product%20(GDP).-,Businesses%20large%20and
%20small%20face%20declines%20in%20sales%20and%20profits,collections%2C
%20and%20spur%20business%20bankruptcies.
Chen , J., & Wang , Y. (2021). Social Media Use for Health Purposes: Systematic Review.
Journal of Medical Internet Research
,
23
(5), e17917. https://doi.org/10.2196/17917
Comfere, N. I., Matulis, J. C., & O'Horo, J. C. (2020). Quality improvement and healthcare: The
Mayo Clinic quality Academy experience.
Journal of Clinical Tuberculosis and Other
Myobacterial Diseases
,
20
(100170). https://doi.org/10.1016/j.jctube.2020.100170
Huebner , C., & Flessa, S. (2022). Strategic Management in Healthcare: A Call for Long-Term
and Systems-Thinking in an Uncertain System.
International Journal of Environmental
Research and Public Health
,
19
(14), 8617. https://doi.org/10.3390/ijerph19148617
Kennedy, D. M. (2019). Managing the Mayo Clinic brand: a case study in staff-developed
service performance standards.
Journal of Brand Management
,
26
, 538–549.
https://doi.org/https://doi.org/10.1057/s41262-018-00148-0
Yaqoob, I., Salah , K., & Jayaraman, R. (2021). Blockchain for healthcare data management:
opportunities, challenges, and future recommendations.
HealthAffairs
,
34
, 11475–11490.
https://doi.org/https://doi.org/10.1007/s00521-020-05519-w
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