Individual Term Paper
Term paper 3
In Part 3 you will to complete an analysis of the Marketing Mix, limited to one (1) page on each of the 3 remaining P’s (Promotion, Place [and service delivery plan], and Price). Also include a brief summary of staff additions or reductions and a brief analysis of the financial impact (revenue minus expenses and contribution margin)
Attached is a copy of Part 1 and 2 to connect to Part 3.
1
Marketing Plan for a Product or Service
Company Profile
Type of Organization: HealthCare
Name of Organization: Hope’s Health Care
Hours of Operation: 9 AM to 9 PM for regular checkups + proceedings and 24 / 7 for emergency
Scope of Service Line: There is a lot of scope of this particular service line as the elderly population in the respective neighborhood is plenty with the hospitals far apart in case of any emergency or even routine checkups for that matter (Chang, 2017). That is why it is expected that this will be the go-to place for the elderly in the respective community whatsoever.
Clients Served: 60 – above for regular checkups + proceedings and all ages for first aid.
Location of clinics/services: Gretchen Wilson Park 208 Pocahontas Ave, Pocahontas, IL 62275, United States
Description of Business: Hope’s Health Care is a clinic targeted at the elderly population of the surrounding area. It features state of the art equipment to take care of any medical need of the elderly patient. However, it does have an area designated for the emergency and for the first aid of people of all age groups in scenarios that are the result of unforeseen circumstances.
The hospital has one medical doctor, two junior doctors, and medical staff consisting of 6 individuals. This hospital is also certified by the American Health Association and can refer patients to larger hospitals if there ever arises a need to do so. The location is selected specifically with minimal completion and maximum potential. If everything goes according to the plan, then Hope’s Health Care will be the number one choice for the elderly to go to in case of any medical reservations whatsoever.
Industry Overview
Social changes:
There have not been many changes in the respective area for the past couple of decades with the main reason being that it is not the center of anything like many of the big cities around the world. As a result, there is peace out in the countryside with minimal technological development.
Economic changes:
Being close to St. Louis, the economic changes of this particular area have been on the positive side for the past couple of decades. As of today, people can afford a better living than what they were used to in the past. As a result of all that, there is a significant increase in the prices as well as the expenditure within the healthcare department and by the looks of it, the consumers are getting along with these changes jest fine, without much of a problem.
Demographic changes:
Looking at the demographic of the targeted area, it is extremely hard to miss the ever-increasing number of the elderly in the respective surrounding. The younger generation prefers to move to the bigger cities while the elderly prefer to remain here. Because of this, the elderly population is high and is increasing on a yearly basis (Blaine A Price, MSc, Oct 24, 2017.). According to the locals, there are twice as many elderly than a couple of decades prior and half of the youngster population that what it used to be around that particular era.
Healthcare delivery changes:
As it is a small town there are not many of the delivery changes that are made in the respective area, but Hope’s Healthcare aims in changing that further down the road.
References
Blaine A Price, MSc. (Oct 24, 2017.). mHealth Apps for Self-Tracking. Retrieved from https://mhealth.jmir.org/2018/10/e185/
Chang, E. ( 2017). Measuring job satisfaction among healthcare staff in the United States. Retrieved from https://academic.oup.com/intqhc/article/29/2/262/3001990
1
Title
Student Name
Student Affiliation (For example Department + Institute Name)
Course Name and Number
Instructor Name
Date
Service Overview
Proposed new service model:
The new propositional service model is the IoT healthcare system for the elderly. The IoT system is designed to take vitals from elderly patients, and give the doctors a clear idea of the statistical health range of the elderly patients. Wearable biosensors, smart watch monitoring, as well as the recent implementation of virtual wards is the best way to treat the elderly (Pinto, 2017)
Value to key marketing targets
The value to the elderly is immense from a health perspective. As elderly people are in a very fragile state, emergencies can occur at any time, but with the IoT systems, the elderly themselves, as well as doctors can keep an eye on their patients as well, to avoid any unfavorable circumstances.
Benefits of new proposal
The detection of any underlying diseases or problems are detected because of the IoT system. The spiking of heartrate, detection of any rising cholesterol levels, or anything remotely related to endangering symptoms are detectable, and traceable when these systems take all the vitals from the body with the help of the various devices (CAN Malarvizhi, 2021).
Positioning of the existing service
The new service takes the amalgamation of the various implementation of IoT devices to get the most out of the detection of various symptoms of diseases. The service that the hospital will provide for their elderly will be the state of the art, and quite easy to implement.
Different take on the service
The service is mostly found within big cities, and hence the implementation of such technology in such a small town is what sets it apart from the competitors.
Competitive Analysis
Competitive service and
The implementation of IoT service is what differentiates it from the rest of the hospitals in the area. Regular check ups on the patients monitor remotely can help book appointments, and it is possible because of the small population of the surrounding areas.
Points of differentiation
The service is differentiated, as instead of booking an appointment when something happens, doctors will regularly check their patients health status to prevent any kind of misfortune from happening unto their elderly patients.
Value to customers
The value to the customers is that they are being regulated on their health. The customers are enjoying constant vigilance from their doctors because of the help of implementation of IoT devices.
Customer profile
The service is designed for elderly customers. The demographic of the area consist of many elderly people because of the small town status of the location. The customers are ranged from 50 to 70 range. The elderly community is susceptible to heart attacks, high cholesterol, and many more life threatening medical situations.
Price Strategy
The pricing of the service will depend on what the customers want. When dealing with biosensors, the price of the sensors, will be equal to a few hundred dollars, depending on the amount of biosensors while the cost of monitoring will be 50$ per month. The smart watch monitoring will be 50$ per month as well.
Marketing approach
The marketing strategy of the hospital will be through word of mouth, as well as banners, and posters all around the town. One banner will be enough to supplement the marketing for the hospital.
Opportunities and threats to the organization
The opportunities are quite great in IoT, as this is a relatively new field. Costs of healthcare can be cut by 25%, and many unforeseen circumstances can also be avoided (Bresnick, 2015).
References
Bresnick, J. (2015, 9 22). healthitanalytics. Retrieved from https://healthitanalytics.com/news/can-the-healthcare-internet-of-things-cut-costs-by-25-percent
CAN Malarvizhi, S. M. (2021). Evaluating The Use Of Iot For Healthcare Providers In Treating Elderly NCD Patients In Malaysia. Journal of Molecular & Clinical Medicine, 4364-4373.
Pinto, e. (2017). We-care: An IoT-based health care system for elderly people. IEEE International Conference on Industrial Technology, 1378-1383.