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Sample Coursework Paper on Competition, Marketing Mix, and Pricing

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Sample Coursework Paper on Competition, Marketing Mix, and Pricing
Key characteristics of the users of HH’s services

The focus is on Highland Hospital in Rochester, New York that offers comprehensive healthcare services for patients with a variety of life-threatening and life-altering illnesses and injuries. Some of the complications or illnesses attended to at the organization include trauma, pregnancy, neurological diseases, and cancer with services to these offered by highly trained and specialized physicians, nurses, and therapists. As such, one of the key characteristics of the users of HH’s services is that they are both female and male individuals from all ages. The fact that HH offers pregnancy-related services means that female individuals form part of its patients. Neurological diseases, cancer, and trauma affect males and females of different ages, and this means that males and females of all ages are users of HH’s services. Also, HH’s users are from different racial backgrounds, and this is because the population in Rochester (HH’s location) comprises of whites, blacks, Hispanics, and Asians (Liebschutz, 2011). Most of the users of the organization’s service are educated, and this highlighted by the fact that education is one of the factors considered in marketing its healthcare services.

Analysis of HH’s competitive environment and recommendation for a course of action for strategic marketing success

Highland Hospital exists in New York State, which is a highly competitive area when it comes to service delivery in the health care sector. Rochester and New York State in entirety are highly populated, a factor that has prompted the establishment of several healthcare providers. Despite the high number of healthcare providers in Rochester, healthcare service provision is still a major challenge because only a few of these organizations offer top-notch or high-quality healthcare services (Barnet, 2014). Although HH is one of the main health care providers in the region, it faces stiff competition from other health care providers such as UR Medicine Strong Memorial Hospital, Rochester General Hospital, Unity Hospital, Newark-Wayne Community Hospital, United Memorial Medical Center, and others (Liebschutz, 2011). For instance, UR Medicine Strong Memorial Hospital is ranked first in Rochester area in 2 adult specialties, with the ranking based on patient outcome and care-related factors (Barnet, 2014). This implies that this organization offers high-quality services, which translates to a high number of patients and profitability in the long run. With these perspectives, it offers stiff competition to Highland Hospital, and this has forced the latter to come up with strategies for overcoming the same.

One of the strategies of overcoming the stiff competition faced by HH in Rochester’s healthcare industry is marketing of health care services. Every organization comes up with marketing strategies so as to ensure that their products and services reach the targeted customers or users, and this is common in the business sector where profitability and revenue generation are the principle objectives. Although the healthcare industry seems to avoid marketing of medical services because of the ethical issues accompanying the same, it is only through this that HH can develop a strong working relationship with its patients thereby enabling it to compete favorably with close competitors such as UR Medicine Strong Memorial Hospital.  A recommended course of action for strategic marketing success, in this case, is that HH’s stakeholders should find out the needs of the community members and come up with a marketing strategy that matches the needs or demands. Marketing strategies or efforts that are in line with the needs of the community in a specific environment in which an organization such as HH operates are likely to become successful. Aligning marketing efforts or strategies with the needs of the community would see HH collect vital demographic information of the targeted population, which would then be compiled and shared among HH’s stakeholders to ensure that the most appropriate marketing strategy is identified.

Marketing mix tool that would be most effective for HH

As it stands, HH’s two main competitors, UR Medicine Strong Memorial Hospital and Rochester General Hospital, are way ahead when it comes to promotion and pricing. With the option of relocation ruled out, a tool of marketing mix available that would be most effective for HH is product and services. It is important for HH to offer top-notch or improve the quality of its products and services to patients to ensure that existing patients are retained and have them market its products and services through word-of-mouth (Berkowitz, 2016). It is also likely that an improvement in the quality of products and services will attract new patients paving the way for favorable competition between HH and other healthcare providers in Rochester. To improve its services, it is important for HH to invest in modern machinery and equipment, which would result in the attraction and retention of existing patients. Also, improvement of service quality at HH should involve speeding up of service delivery so that the outpatient section does not hold patients too long before they get desired services. This should be coupled with a conduction of customers’ satisfaction survey to ensure that the needed improvements are identified and implemented. Moreover, to ensure that top-notch services are offered to patients, HH can resolve to offer different services to different classes of customers, which will mean that a section of the hospital offers services to high profile clients while another section offers standard services to standard prices (Berkowitz, 2016). Through this, a significant number of patients or users will be reached by the hospital’s services paving the way for increased revenue generation and profitability, which will help overcome the stiff competition faced in Rochester’s health care sector.

The best possible pricing strategy for a service offered at HH

Apart from offering top-notch or high-quality services to patients, HH can overcome competition in Rochester’s health care sector by implementing effective pricing strategies for its services. With the focus on increasing revenue generation and profitability, lowering set prices for services would not be the best way of overcoming the competition. It is important for HH’s stakeholders to determine a specific service that receives the highest number of patients on a daily or weekly basis. Of course, the number of individuals visiting the hospital as a result of trauma-related issues would be higher than those with other complications. Once this is identified, the hospital should offer discounts to patients with trauma. Through offering discounts, HH will retain the existing patients with trauma who will spread this information to others by word-of-mouth (Rogers, 2013). Although the discounts will not be applied to every service offered by the organization, it will be a perfect way of attracting new patients to the organization. In the long run, HH’s share in Rochester’s healthcare sector will increase significantly.

 

 

 

 

 

 

 

References

Barnet, S. (November 24, 2014). Healthcare in New York State: 10 things to know. Becker’s Hospital Review. Retrieved online on November 23, 2016, 

Berkowitz, E. N. (2016). Essentials of health care marketing. Sudbury: Jones & Bartlett Learning.

Liebschutz, S. F. (2011). Communities and health care: The Rochester, New York, experiment. Rochester, NY: University of Rochester Press.

Rogers, A. M. (2013). Delivering health care.How to create a successful referral marketing strategy.Marketing health services, 34(4), 12-13.

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