Week 3 Discussion – HSC3231
Life cycle consists of introduction growth, maturity, and decline. The information about the decline of the age groups 26 to 40 years old and 60 to 75 old is reflective of the declining economics in the area. Based on this data, I believe we as an organization and the market have reached the decline stage of the life cycle (Berkowitz, 2022). We can change the trajectory of our decline by rethinking our marketing strategy to be more on par with the trends in the community we serve and branching out to other communities in the surrounding area. This will cause the
life cycle to start over in a sense, back to the introduction stage. We can use our promotional resources to rebrand the organization as we reintroduce ourselves to the market. While there has been noted declines, the region has shown a large outgrowth in several demographics. If we strategically market our services to the growing groups, it will offer us an opportunity to enter the “growth” stage. This strategy will require us to gain a competitive edge that draws a block of the market to the organization. Once we attract consumers, we must lock them in as returning customers. This will have to be done by “generating selective demand” (Berkowitz, 2022).
References:
Berkowitz, E. N. (2022). Essentials of Health Care Marketing, Fifth Edition (5th ed.).
Jones & Bartlett Learning.
