What approach did the organization make regarding the dearketing strategy?
Supporting Lectures:
Review the following lectures:
When Plans Come Together
When Plans Come Together
It’s nice when a plan comes together. This is especially true for the business plan, which encompasses the financial plan, the marketing plan, the operations plan, and the human resources plan. Likewise, this is relevant to the strategic plan that focuses on the vision, mission, and critical success factors of the organization. Each individual plan addresses the unique contribution that it presents to the organization, yet, it must work with the other plans to fulfill the organizational mission. At no time could an independent plan sustain the viability of an organization; they must work synchronously with each other.
The business plan is the annual playbook of an organization that illustrates the “tactical execution of the overall organizational strategy” (Hillestad & Berkowitz, 2013, p. 38). The business plan includes the following elements:
Marketing
Operations
Human Resources
Finance
The marketing plan provides the concepts (pricing, advertising, distribution, and product development) useful for an organization to identify its competition and potential customers. The operations plan provides the necessary goals and objectives relevant to the organization. The human resources plan provides information on key players needed and the finance plan provides relevant information on securing the preservation and growth of organizational capital.
The strategic plan is the long-term vision of the organization. The strategic plan includes the following elements:
Mission
Vision
Critical success factors
The mission states the purpose of the organization. The vision states the intended future placement of the organization. And finally, critical success factors are the necessary elements required of the organization that must be met if the vision is to succeed.
Each of the aforementioned elements works independently of each other to produce an important component; however, when brought together, they form the two critical strategies of the organization: the business plan and the strategic plan.
Integration of the Marketing Plan
Review each tab to know more about the integration of the marketing plan.
Understand the internal and external data.
Displays a media that explains the integration of the marketing plan.
Do your research first. It is important to understand the facts. In this step, you will assess the environment (internal and external) and your competition and conduct market research.
Set the mission, vision, and critical success factors.
Complete your strategy/action and set goals accordingly.
Determine action tactics based on market research.
Integrate with business plans and other entities.
Monitor, control, and promote feedback into the strategy loop.
Additional Materials
From your course textbook, Health Care Market Strategy, read the following chapters:
Step 5: Integration of the Marketing Plan with the Business Plan
Step 6: The Approval and Monitoring Process
From the South University Online Library, read the following article:
Successful Practices Use Marketing That Evolves with the Changing Healthcare Landscape
Technology
Technology
Technology has changed the way in which healthcare is developed, provided, and documented. Technological advancements have reduced risk, increased quality, and expanded opportunities that were otherwise unattainable. Healthcare leaders have a great opportunity to use technology to focus on developing an ideal patient experience (Purcărea, 2016). The competitive landscape is shifting to include more patient autonomy with health and wellness decisions and access to health records. This additional patient empowerment is a promising concept in the field of healthcare marketing (Ben Ayed & El Aoud, 2017).
A new avenue presented to the healthcare leader is the use and application of social media. Research suggests that healthcare consumers are technologically more advanced and savvy than healthcare providers (Ben Ayed & El Aoud, 2017). As a result, consumers are desiring a unique patient experience that most healthcare providers do not currently provide (Koumpouros, Toulias, & Koumpouros, 2015). This presents a unique opportunity to the healthcare leader who has embraced the proponents of technology.
Likewise, advanced technology has presented unique, ethical challenges not previously seen in the field. For example, the development of electronic health records has created controversy regarding the ownership of medical, electronic documentation. Also, advancements in technology have increased cyberattacks that threaten patient privacy and confidentiality. As a result, scholars suggest that healthcare should include an additional element to its marketing mix that focuses on the fundamental standards in the field; principles should be included in the healthcare marketing mix (Gray, 2008). Including this additional element in the healthcare marketing mix would better represent the unique challenges and needs of the healthcare industry, including the opportunity to make informed decisions that do not jeopardize the integrity of the provider or privacy of the patient.
References:
Ben Ayed, M. & El Aoud, N. (2017). The patient empowerment: A promising concept in healthcare marketing. International Journal of Healthcare Management, 10(1), 42–48. doi:10.1080/20479700.2016.1268326
Brown, B. (2016). Successful practices use marketing that evolves with the changing healthcare landscape. Hearing Review, 23(7), 14–16.
Koumpouros, Y., Toulias, T. L., & Koumpouros, N. (2015). The importance of patient engagement and the use of social media marketing in healthcare. Technology and Health Care, 23(4), 495–507. doi:10.3233/THC-150918
Purcărea, T. V. (2016). Creating the ideal patient experience. Journal of Medicine and Life, 9(4), 380–385. doi:10.22336/jml.2016.0411
Opportunities and Threats of Technology
Review the tabs to know more about the opportunities and threats in healthcare that arose due to technology advancements.
Opportunities
Threats
Displays a media that presents few opportunities and threats in healthcare that arose due to technology advancements.
Technology is an avenue where original limitations are removed, possibilities are increased, and wonders are abound. Technology in healthcare has created opportunities that would otherwise be nonexistent or, at a minimum, difficult to implement. Some opportunities that the healthcare industry has faced due to technological advancements include:
Telemedicine
Telehealth
Medical tourism
Remote monitoring
Electronic health records
Elimination of redundancy in work processes
Free marketing (i.e., social media)
These aforementioned examples of opportunities in the healthcare industry are cases of how healthcare access, quality, and cost may be addressed with technology.
Additional Materials
From your course textbook, Health Care Market Strategy, read the following chapters:
Step 5: Integration of the Marketing Plan with the Business Plan
Step 6: The Approval and Monitoring Process
From the South University Online Library, read the following articles:
The Patient Empowerment: A Promising Concept in Healthcare Marketing
Successful Practices Use Marketing That Evolves with the Changing Healthcare Landscape
Healthcare Marketing Has Five ‘P’s
The Importance of Patient Engagement and the Use of Social Media Marketing in Healthcare
Creating the Ideal Patient Experience
From the Internet, review the following:
General Electric. (2018). 5 predictions: Why 2018 will be the future of healthcare. Retrieved from http://newsroom.gehealthcare.com/5-predictions-why-2018-will-be-the-future-of-healthcare/
Overcoming Common Challenges
Overcoming Common Challenges
As with many strategies, there are a variety of obstacles that may impact progress. It is important to take time to better understand that these challenges exist and have a contingency plan in the event they present themselves during the planning process.
Healthcare resources are limited. Despite many healthcare initiatives that promise increased accessibility and quality, it is important to remember that healthcare is a finite resource. There are limited resources to go around. One challenge that leaders face is balancing the mission with the margin in an attempt to better manage the supply, demand, and potential growth of the organization.
Another obstacle leaders face is the preemptive action of making false assumptions. This can occur in a variety of ways; however, the outcome of making an assumption will yield negative results. Leaders should limit their decision-making to evidence that supports real data and also not decide based on personal bias.
Leaders in healthcare oftentimes deploy more initiatives than the organization is able to support. This includes not having enough money to fund the initiative or not having enough resources (such as staffing) to fulfill the initiative. When this occurs, leaders are stretched thin and are unable to keep their commitments. This reflects poorly on the individual as well as the organization that is committed to provide services. Leaders should focus on the smaller strategies that are meaningful to the organization. It is better to have one, small, important initiative that is a success rather than multiple, unsuccessful initiatives that leave a bad impression on the organization.
Finally, successful leaders in the field are able to remain flexible and adapt to change. Although this may seem difficult at times, representing the voice of the market is the leader’s responsibility. This requires flexibility because as needs and customers change, the leader’s perception of the market must also change.
Healthcare Challenges
Review the tabs to go through a few scenarios where there have been healthcare challenges in the United States and what initiatives the government or organizations had taken to overcome the same.
Scenario 1: Quality in Long-Term Care
Scenario 2: The Establishment of Government-Run Healthcare
Displays a media that presents a few scenarios where there have been healthcare challenges in the United States and what initiatives the government or organizations had taken to overcome the same.
Quality of care has been a topic of concern in healthcare, especially in the long-term care sector where the traditional concept of “nursing home” has commonly been abhorred. In an effort to transform this negative perception, providers began developing more resident-focused living communities called “homes” or “residential facilities” that attempted to eliminate the negative stigma of traditional nursing homes. The concept grew in popularity under the key concept of “culture change.” Today, more nursing homes have amended their operational plan to establish more resident-focused communities than ever before.
Additional Materials
From your course textbook, Health Care Market Strategy, read the following chapter:
Conclusion
From the South University Online Library, read the following articles:
Health Care Strategy
Limiting Risk in Healthcare Marketing
From the Internet, review the following:
Modern Healthcare. (2016). Three leaders on the future of healthcare delivery. Retrieved from http://www.modernhealthcare.com/article/20160709/40THANNIVERSARY/307099915
Merrild, P. (2015). The biggest U.S. health care challenges are management challenges. Retrieved from https://hbr.org/2015/02/the-biggest-u-s-health-care-challenges-are-management-challenges
Changing Marketing Strategy
The project assignment provides a forum for analyzing and evaluating relevant topics of this week on the basis of the course competencies covered.
Introduction:
In this week, you explored the final steps of the strategic planning process. You learned how to integrate the marketing plan with the business and strategic plans. You also examined the issues that marketing is facing in healthcare.
In this assignment, you will explore some reasons regarding why an organization may change its marketing strategy. This will require you to research a news article, news broadcast, or journal article about an organization that changed its marketing strategy. You will have the flexibility to select any organization that meets the requirements of this assignment.
Please review the following and using specific information from these resources, your course resource, and additional research, address the tasks posed below.
Tasks:
Find a news article, news broadcast, or journal article (within the past seven years) that identifies an organization that changed its marketing strategy.
Why did the organization change its m
What approach did the organization make regarding the dearketing strategy?velopment and implementation of the new strategy?
How does the new strategy differ from its original marketing strategy?
Discuss whether the organization was effective in its decision to change the marketing strategy.
To support your work, use your course and text readings and also use the South University Online Library. As in all assignments, cite your sources in your work and provide references for the citations in APA format.
Submission Details
In around 500 words, write your response in a Microsoft Word document.
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