Assess the key elements of the five-force model. What are the advantages and disadvantages of this model?

Assess the key elements of the five-force model. What are the advantages and disadvantages of this model?

he Final Project should distinguish the marketing approach that a health care marketer would take to handle products and services to a marketer of consumer goods. Conduct research on the health care climate in your state and articulate how each of the pricing objectives influences the health care system in your state. Provide statistical data when applicable and/or expected. Based on your findings, discuss the implications of your research. You are the decision maker of a health care firm and you need to communicate changes to the distribution strategies for services and/or products offered by your company. Devise a plan that outlines the communication strategy you would use to reach your main stakeholder groups. Be sure to identify the stakeholders.

The Final Project should be organized as follows:

1. Title page

2. Introduction

a. Propose your health care firm.

b. Compose the services and/or products offered.

c. Prepare a need for the strategic and business plan.

d. Compare the difference between the strategic plan and a business plan.

e. Relate Force and Focus

f. Distinguish is the driving force

3. Components

a. Create the components of a business plan. How does the process of a business plan fit together?

i. marketing plan

ii. operations plan

iii. human resource plan

iv. financial plan

b. Analyze possible barriers

4. Environmental Assessment

a. Demographics and demographic trends

b. Policy, law, regulations

c. Analysis of competitors in the area including profitability and market share

d. Market research to determine market interest and possible market adoption

5. Research

a. Assess the key elements of the five-force model. What are the advantages and disadvantages of this model?

i. How easy is it for suppliers to drive up prices?

ii. How easy is it for buyers to drive down prices?

iii. Is there a threat of product substitution?

iv. Is there a threat of new entry by a similar provider?

v. How much competitive rivalry exists?

b. Examine alternative means to gather primary market research. Provide a review of the advantages and disadvantages of each method

6. Strategy

a. Create the strategic option utilized: either a differentiation strategy or a cost strategy

b. What externalities could affect the life cycle of the product or service.

c. Evaluate the strategies Mature Strategy, Niche strategy, Harvest strategy

d. Questions to consider

i. Is some segment or group of patients or customers not being served?

ii. Can the product/service be improved?

iii. Can the product/service be distributed more efficiently, or can

iv. Can the distribution access of the service mix be significantly increased?

v. Can the product/service be offered at a lower price to be more attractive?

vi. Can a superior advertising campaign be mounted?

e. Analyze which alternative branding approach will be utilized.

i. Blanket branding

ii. Multibrand strategy

iii. Reseller strategy

iv. Mixed branding

v. Co-branding

vi. Another entity

vii. Push strategy

f. Analyze your alternative pricing strategies

i. Skim pricing

ii. Penetration pricing

iii. Elasticity pricing

iv. Cost-plus pricing

v. Price bundling

7. Recommendations and Conclusion

a. Examine why it is necessary for the marketing plan to be integrated into the organization and explain what integration of the marketing plan means.

b. Compare some likely elements that the plan should be integrated with and why.

c. Distinguish the core elements of that market plan.

d. Explain how an organization could evaluate among alternative plans to see what plan(s) might be approved. What criteria would be used?

e. Analyze the core differences between strategy and tactics.

f. Evaluate examples of assumed assumptions in health care and discuss under what conditions assumed assumptions occur.

g. Differentiate how marketing demonstrates accountability in a health care setting.

h. Discuss the planning issues that are often encountered. Provide an overview of the issue, why the issue is important, and implications of the issue to the process and provide examples.

i. There are issues facing planning and marketing professionals however, there is advice to help marketing professionals be more effective. Evaluate what is meant by each of the following items:

i. Be the Voice of the Market

ii. Earned Role verses Assigned Role

iii. Accountability

iv. Be Bold and Have Ideas

8. Reference page


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