Week 4 Discussion 1
Please respond to the following: Brand Stretch Spectrum, Market Product Grid, and Lateral Marketing Strategy
Assess the importance of evaluating newly developed health care products in order to determine whether the products should carry existing brand names or whether they should be assigned new brand names. Suggest realistic branding strategies needed for marketers to evaluate newly developed health care products or services. Provide support for your rationale.
Use the Internet to research the product offerings of a local health care organization. (Note: These offerings are often found on the health care organizations homepage.) Based on your knowledge of your local region, consider the potential markets for these products. With this information, construct a Market-Product Grid for your selected health care entity. With the grid, you should, at a minimum, analyze the resulting market-product combination. Determine whether or not the product offerings that you selected are consistent with the perceived selections of the given health care entity. Explain your rationale.
Assess the value of target marketing as an effective health care marketing strategy. Appraise the degree to which vertical and traditional segmentation help marketing managers use target marketing strategies. Support your rationale with at least two (2) specific examples of target marketing within a health care organization with which you are familiar.
Evaluate the impact of lateral segmentation in encouraging marketing managers to look broadly at markets in order to identify previously overlooked opportunities. Provide at least one (1) specific example of quality initiatives within a health care organization.
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