Marketing Mix Strategy
Name
University of Phoenix
MHA/506
Dr. R. Rizzo
July 18, 2022
Marketing Mix Strategy
Part I: Product Strategy
Value Proposition
A service I recommend that East Chestnut Regional Health System (ECRHS) develop is breast care service. While the customer receives value from the company by way of the product and the collaborator (retailer) through the delivery of the service, both the company and collaborator receive value from the customer through revenue.
Service Strategy
The recommended service entails a mammogram, ultrasound, and core biopsy. The resulting benefits include prevention and early detection of diseases such as cancer. For instance, mammography screening can detect breast cancer at an early stage. The service strategy satisfied consumers’ needs in terms of price since it is affordable, and functionality. It also meets their needs since it provides them with information so that they know how to use the product. The service differs from that of the competition since it solicited customer feedback before its implementation. This was revealed through the Faith & Main Consultants Report which studies the market perception of women’s services.
Part II: Pricing Strategy
The pricing strategy that will be used is penetration pricing which will entail starting with low prices and gradually increasing them as the service gains traction. However, the price of the service depends on the symptoms of the patient which will determine the tests that the patient will undergo. The primary research that supports the pricing strategy is the Report by Faith and Main consultants which studied the marketing perception of ECRH’s women’s services. The findings reveal that 36% of women in the service area travel across the county to receive excellent health services. The pricing strategy would therefore encourage them to consider ECRH’s services. In addition, the majority of women in Chestnut County consider using the women’s services of ECRH. The competition mostly uses psychological pricing which is a strategy that mostly targets price-sensitive customers. Research shows that the women of Chestnut County are quality sensitive given the severity of breast diseases such as cancer.
Part III: Placement Strategy
The distribution of health services is a complex process that involves complex decision-making regarding time, place, and methods of supplying the service. ECRH should use various distribution networks to distribute the service. These include the use of medical units such as medical offices, clinics, hospitals, and diagnostic and treatment centers where the provision of medical services to patients is carried out (Coculescu, Coculescu & Purcărea, 2017). It should also move the medical services to the patients through community programs to ensure that everyone is aware of the service and its benefits. These distribution networks will ensure that the service is provided in the most pleasant and beneficial conditions for the target customers. They will also take into consideration cost-effectiveness so that ECRH creates spaces that are as close as possible to the needs of patients in terms of working hours and accessibility so that it offers convenient services compared to other organizations that offer a similar service.
Part IV: Promotion Strategy
The recommended promotional strategy for the new service is influencer promotion which helps to increase validation for the service offered. Influencers are people who have built up an audience based on their brand and thus they can easily influence their followers to purchase a particular product or service. This promotional strategy can be used on traditional advertising elements such as on broadcast television since more people watch television or on outdoor billboards which attract people’s attention.
The organization should also consider using a website as a promotional strategy since it not only creates brand awareness but also showcases the brand to prospective customers However, social media and online advertising should take up a huge chunk of the promotional budget since it will allow ECRH to hyper-target specific users and build a database to directly track its return on investment (RoI) (Durante, 2021). In addition to these, ECRH should use a consistent message through all promotional elements to emphasize the service. Such a message may be as follows; “Attending regular mammography can reduce your chances of breast cancer, visit ECRH today for the best breast care service.”
References
Coculescu, B. I., Coculescu, E. C., & Purcărea, V. L. (2017). Price and distribution policies in healthcare marketing in Romania. Journal of Medicine and Life, 10(2), 144. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5467256/
Durante, J. (2021). Three reasons you should be advertising on social media in 2021. Forbes. https://www.forbes.com/sites/forbesagencycouncil/2021/03/12/three-reasons-you-should-be-advertising-on-social-media-in-2021/?sh=6ea11edc3f52
