WEEK 3 TEACHER NOTES

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Ultimate Medical Academy, Tampa *

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472

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Marketing

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Feb 20, 2024

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Notes Part 2 MARKETING PROPOSAL ASSIGNMENT WEEK 3 TEACHER NOTES: Marketing Proposal Assignment * Health Care Marketing Techniques  Why would you use one market oriented strategy over the other?  Ponder: Define an Emergent Strategy . Is this poor planning?  A type of business strategy that is not the result of pre-planning, but rather emerges over time in response to changes in the environment. It can be thought of as the strategic change and reaction to a series of unexpected actions or behaviors.  An emergent strategy isn’t realistic in practice, and it doesn’t provide healthy conditions for change: an emergent strategy foregoes any management control.  Think about why strategy development is important for an organization.  Direction and Focus: Strategy provides a clear direction and focus for the organization, guiding decision-making and resource allocation. It helps prioritize goals, identify areas of investment, and align various departments towards a common vision.  Competitive Advantage: Strategy helps organizations gain and maintain a competitive advantage in the market. It allows them to identify their unique strengths and capabilities, spot emerging trends, and develop strategies to outperform competitors.

Notes Part 2 MARKETING PROPOSAL ASSIGNMENT  Market oriented strategies: Dominance Strategy Second-Fiddle Strategy Frontal Attack Strategy Niche Strategy Flanking Strategy  Validate:  Why would you use one over the other? Attributes can help determine which strategy is most suitable for a given situation.  What would you need to look for before committing?  What are potential events that may arise to alter your strategy? Critical to the planning process, the strategy must first define existing relationships with other facilities or partners as well as relationships to be formulated and obtain support from stakeholders. Steps in planning 1. Define Mission & goals 2. Define assumptions 3. Gather data needed 4. Profile the organization (who are we, who do we serve)

Notes Part 2 MARKETING PROPOSAL ASSIGNMENT 5. Internal audit (where are we presently with current G&Os) and external audit (what the current environment is like at present including a competitive analysis) 6. Health status identification (Community health assessment) 7. Converting status currently to current demands 8. Resource inventory (including relationships with gaps identified) Cultivating the strategy 1. Setting goals – goal setting should be based on the results of the above planning steps. 2. Define steps (objectives) to reach the goals. Include potential consequences that may arise, such as the competition discovering the organization’s goals. 3. Select a strategy. A useful tool is the SWOT analysis. It is important to note that a strategy may change along the way as the organization approaches or meets the goal (flanking strategy). Another reason for a change in strategy may be that the strategy of attaining greater market share uncovers a segment of the market where a niche strategy may need to be pursued. A new service strategy may require further diversification. The strategy cultivated must define the number of services and the number of markets.

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