MARKETING APPLICATION PAPER ASSIGNMENT INSTRUCTIONS
OVERVIEW
Marketing is one of the most important aspects within a healthcare organization. In order to
create an effective marketing plan, we must be able to identify the right product/service at the
right time to the right person and place. Marketing plans begin with the identification of the core
principles we refer to as the 4 Ps: product, price, place, and promotion. Together, the 4 Ps create
a “marketing mix” and are interdependent.
INSTRUCTIONS
Using the scenario below, write an APA formatted paper of at least 600 words that is supported
by 2 peer-reviewed, scholarly references and 1 instance of biblical integration. Demographic
trends indicate that a large number of baby boomers are on the verge of retiring. The Bay Area
Medical Practice is meeting to focus on the next 5-year strategic plan. It has performed a patient
analysis and has determined that 40% of its patient base is composed of baby boomers. From an
operational perspective, what would be your recommendation to address the 4 P’s of Marketing?
?
How to solve
ERU Marketing
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In order to effectively address the 4 Ps of Marketing in the given scenario, several recommendations can be made from an operational perspective. These recommendations will focus on the healthcare organization’s marketing mix and the specific needs of their patient base, which consists of 40% baby boomers.
Product: The first P of the marketing mix is product. Healthcare organizations need to consider the needs and preferences of their target market when developing their product offering. In this case, with a significant portion of the patient base being baby boomers, it is important to offer services and treatments that cater to their specific health concerns and conditions more commonly associated with this age group. This could include services such as joint replacement surgeries, specialized geriatric care, or chronic disease management programs.
Price: The second P of the marketing mix is price. The pricing strategy of a healthcare organization should be aligned with the value and quality of the services offered. Considering the patient base of baby boomers, it is crucial to offer competitive pricing that takes into account their potentially fixed income or retirement budgets. Offering discounted services or packages tailored specifically for this age group could be an effective strategy to attract and retain this segment of the population.
Place: The third P of the marketing mix is place. Healthcare organizations need to ensure that their services are easily accessible and convenient for their target market. For the Bay Area Medical Practice, this could involve having multiple clinics strategically located across the Bay Area to cater to the needs of the baby boomer patient base living in different neighborhoods. Additionally, offering telehealth or virtual healthcare options could be beneficial for older patients who may have difficulty traveling to healthcare facilities.
Promotion: The fourth P of the marketing mix is promotion. Healthcare organizations need to effectively promote their services to attract and retain patients. In the case of the Bay Area Medical Practice, utilizing targeted marketing strategies to reach the baby boomer population would be essential. This could involve advertising through channels that are commonly used by this age group, such as television or print media. Additionally, partnering with local retirement communities or senior centers to provide educational sessions or health screenings would help raise awareness of the medical practice’s services.
Biblical Integration: In addition to the operational recommendations based on the 4 Ps of Marketing, it is important to integrate biblical principles in the healthcare organization’s marketing strategies. This can be done by considering ethical guidelines and values that align with a Christian worldview. For example, the organization can prioritize patient-centered care, compassion, and empathy in all marketing efforts. This would involve treating patients with dignity, respect, and understanding their unique needs in order to deliver healthcare services that align with Christian values.
Overall, the operational recommendations for the Bay Area Medical Practice to address the 4 Ps of Marketing in relation to their baby boomer patient base involve tailoring their products and services, offering competitive pricing, ensuring convenient access to healthcare facilities, and implementing targeted promotional strategies. By incorporating biblical principles, the medical practice can provide compassionate and patient-centered care to their target market.
