Solution Pages: 15
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Questions Covered in the Solution
The purpose of the marketing plan project is to provide you with experience applying the course concepts in a comprehensive manner. The completed plan should outline your marketing approach for a health-related service or product of your choice. If you like, your service or product may be related to an organization for which you work, have worked in the past, or one in which you have an interest.
The marketing plan must include the following sections:
1. Cover page
2. Table of contents
3. Executive summary
4. Environmental analysis
– Industry overview
– Service overview
5. Proposed research plan
6. Target market
7. Competitive analysis
8. Promotional strategy
9. Distribution plan
10. Plan for performance measurement
Sample of Solution
Emergency Medical Service is considered to be the most sophisticated and integrated phenomenon in the Health Care industry. Since, EMS system involves various distinct activities including instant communication, efficient transportation and whole day availability, hence its integrated execution is quite vulnerable. Moreover, despite the fact that Health care industry has become more competitive and costly, running a profitable emergency service is possible through distinguished innovation and automation. While, the growth of industry fosters new opportunities for sophisticated and innovative products. Furthermore, marketing of the service is quite integral for the realization of its ultimate essence. Whereas, for an integrated marketing which may ensure diversified streams of revenues, the organization must target both the business and individual clients. Moreover, value addition must be realized while making the service more affordable, convenient, and approachable.
1.0 Environmental Analysis:
Strategic execution of any marketing plan demands extensive research to comprehensively understand the potential market and its dynamics to efficiently formulate compatible product or service which would eventually satisfy the demands of target market. Furthermore, the realization of demographics, geographics and psychographics of the target market is quite integral for the formulation of eventual action plans. Marketing is effectively a phenomenon which include collection of data about the market and then by using that data formulating such campaigns which may portray the product/service as perfect solution for the consumers (Kotler, Shalowitz, & Stevens, 2011). Eventually, the realization of data must not be limited to the direct consumers but also the potential competitors. Essentially, the brand placement must be informed of the prevailing market competition.
1.2 Industry Overview
Health Care industry has become the most concerned matter for the last decade. Since, the communities are getting more conscious about their health, the magnitude of this industry is on exponential growth. Furthermore, despite the congested competition and increased costs of the Health Care, the industry’s growth has visualized new opportunities for further innovations and moderations. In addition to the generic volume extensions, Health Care industry has also undergone shift in the procedural execution. For Instance, Health Care Industry is now more oriented towards digital consumer engagement (Health Care Providers Industry Outlook 2017, 2017).
4.0 Competitive Analysis:
Emergency Medical Service essentially involves timely transportation of patients who may not be able to visit Care Centers themselves. Hence, EMS is an integrated phenomenon which is dependent on peculiar factors including communication infrastructure, pertinent equipment and well trained supporting staff. Consequently, the essence of such a spontaneous service is derived from the efficiency of integration between different processes. Moreover, for an extended analysis of EMS competitiveness, we can conduct a SWOT analysis covering its strengths, Weaknesses, Opportunities and Threats (Figure 3). Hence, it can be realized that although EMS have larger pool of potential customers, but maintaining the quality and essence of the service in disastrous events is quite challenging.
7.0 Performance Measurement:
Monitoring can be considered as the most vital segment of any integrated phenomenon, since it ensures the sustainability of any procedure and dictates the efficiency of every component. Essentially, with regular monitoring processes can be improved further and unprecedented inefficiencies can be removed. Furthermore, performance evaluation empowers the management in efficient allocation of resources and help minimize costs while improving the ultimate outputs. While such an integrated monitoring and performance measurement processes can be executed while segmenting the value chain. For instance, the communication, transportation, medication and promotion can be evaluated distinctly as with such distinguished evaluation, performance of each business unit can be measured separately and can be improved eventually. Furthermore, certain peculiar parameters must be accessed properly and regularly which may include the ratio of new clients, financial stability, operational growth rate, existing clients’ satisfaction, utilization ratio and retention rate. While evaluating these parameters, performance laggings can be identified and addressed accordingly. Moreover, regular internal surveys must also be conducted to assess the performance of each individual employee and their satisfaction level. Additionally, for an integrated monitoring and performance measurement process, goals must be always be SMART. Since, goals must be specific, measurable, attainable, relevant and time bound, they may integrate monitoring process. Employees’ remain motivated, if the goals they have to achieve seems reasonable, attainable and relevant. Moreover, the limit of time realize more efficiency and commitment from the employees. Consequently with the SMART goals, performance can be evaluated more precisely. Effectively, regular controls must be established to realize integrated improvement in the procedures.