competition,marketing mix and pricing


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Assignment 2: Competition, Marketing Mix, and Pricing

Due Week 8 and worth 300 points

For this assignment, use the same health care provider as in Assignment 1.

Write a four to six (4-6) page paper in which you:

  1. Determine the key characteristics of the users of the products and/or services of the health care provider you selected.
  2. Analyze the competitive environment of the health care provider you selected and recommend a course of action for strategic marketing success.
  3. Determine which tools of the marketing mix available to health care providers would be most effective for the health care provider you selected.
  4. Determine the best possible pricing strategy for at least one of the products or services offered by the health care provider you selected.
  5. Provide at least three (3) qualified sources, e.g., peer-reviewed journals, professional organization Website, or health care provider Websites.

Your assignment must follow these formatting requirements:

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length.

The specific course learning outcomes associated with this assignment are:

  • Analyze the competitive environment of a health services organization and identify a course of action that will allow for strategic marketing success.
  • Analyze the users of the health care system.
  • Describe the various tools of the marketing mix available to health care providers.
  • Use technology and information resources to research issues in health services marketing.
  • Write clearly and concisely about health services marketing using proper writing mechanics.

Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills.

Unformatted Attachment Preview

Running Header: MARKETING STRATEGY FOR CVS HEALTH Marketing Strategy for CVS Health Mary Neilson Violet Farley Health Services Marketing 07/27/2018 1 MARKETING STRATEGY FOR CVS HEALTH 2 Healthcare provision is a competitive market. The health service providers ought to work against all odds to ensure that they are able to meet the demand in the market so that it can be at the top of the competition. This means that every health provider must have an effective marketing strategy. Otherwise, the target audiences may end up flocking to one specific healthcare facility in which they can meet their needs. If this happens, then it means that the market is not competitive enough and so it may give room for poor service provision (Brekke & Sørgard, 2006). One of the best healthcare providers in the United States of America is CVS Health. It is actually the biggest retailer which provides prescription drugs to other small-scale pharmacies throughout the states. CVS has adopted an effective marketing strategy which has kept it at the top for several years in the industry. The most successful marketing strategy which has been used by CVS is the branding strategy. The firm has made its prospective clients believe that it is the best health service provider which has its customers as the priority (CVS strategy sees a shift to long-term care, 2013). It is dedicated to providing the best services of quality and at achievable prices. Customers across the 47 states believe that in any case, they need any form of health assistance, CVS is the best platform to visit. Naturally, clients feel more comfortable to be associated with popular and supporting service providers and so this is what the facility does to keep them around. Additionally, CVS has made use of digital marketing strategy. All information about the firm can be retrieved from any place just through Google search. Not all health service providers have gone to a better extent above CVS Health when it comes to online presence. This strategy MARKETING STRATEGY FOR CVS HEALTH 3 ensures that most people are able to know about the firm and be persuaded to try its services. It is important to note that the cost of doing an advertisement online may be expensive but then it reaches the maximum target audience. The social media like the Facebook are becoming the common platform for advertisement. Therefore, this strategy has the capacity to boost the awareness level of the clients about the facility (CVS strategy sees a shift to long-term care, 2013). Another marketing strategy that CVS Health has been using is making use of the power of information technology. This strategy has kept the facility at the top because most health service providers are taking too long to adopt information technology in their firms. One of the tremendous steps which the organization took in response to technological know-how was to come up with its own app. Customers are able to get access to their services very fast without necessarily having to move to the facility. This saves both time and finances. The app was also used to send notifications to its clients about upcoming or ongoing service provision to a given client (Brekke & Sørgard, 2006). The above strategies had a direct impact on the clients and are continuing to win more people as their clients. For instance, out of the strategies, customers gained loyalty to the firm. Just because they have never been disappointed when they go for the health check-ups, they tend to think that CVS health is the best place. It is so much that it is less painful when a client is succumbed by a death while under treatment in the firm. The clients believe that indeed the doctors did their best and so they still end up appreciating them. It is this customer loyalty that is keeping attracting more clients who probably will end up being loyal to the firm even at the point of death. This guarantees continuity in sales. MARKETING STRATEGY FOR CVS HEALTH 4 Additionally, the strategies have enabled the firm to meet the demands of the target audiences. Through the mobile app, clients get to be engaged directly at an individual level to find out how they feel about the services being offered to them. The direct engagement helps the firm to address specific issues that the clients may be facing. The met demands of the clients translate to more sales hence productivity. To utilize the products and serves offered by CVS, there is need that it considers another strategy. This is to do with its pricing. As much as it is responding to the need of most patients and small retail shops, it has not gotten to the point of accommodating the whole market. There are other health service providers which provide drugs at a relatively lower process. This does not mean that they are making losses. Therefore, the firm should consider reducing the prices of some of its drugs if not all in order to attract a maximum possible number of buyers. Additionally, the firm can try to improve on its after sale services. For instance, when supplying drugs to the small scale pharmacies, it should ensure that it offers transport to the clients. This will cut the cost on the side of the customer and so will encourage him or her to purchase more drugs using the money which would otherwise be used on transport. At the end of the day, the sales for the firm will rise hence increasing the profit margin for the firm. To shape the buying decision of its customers, I would recommend that CVS should start more of its branches in other states as well as other countries (Quelch, 2015). This will influence the decision of a portion of the target customers who tend to go for health services in other firms for convenient reasons. They feel that there is no need to take much time and money in the name MARKETING STRATEGY FOR CVS HEALTH 5 of going for treatment in CVS when they can do the same in the available and convenient service providers. This will help the firm to widen its market coverage. I would also recommend that the health service provider carry out more market research to find out the changing demands of the clients as well as the strategies being used by its competitors. Just by the mere fact that the firm has been on top for years does not guarantee it being on the top forever (Pride, 2017). The market will keep changing and so the firm should get down to the actual user of its products and services to know how to satisfy them. It is out of this that the firm can be guaranteed to be always at the top of its competitors. Lastly, I would recommend that the firm should offer free services to the society as a form of social responsibility (Quelch, 2015). For instance, the firm should be seen participating in solving the common problems which are affecting the people in its environ. Very small works like providing immunization services to their children for free can in a way to shape the buying decisions of its clients. Naturally, people believe so much in the law of reciprocity. That one should only give back to the person who gives. Therefore, if CVS will achieve this, it means that by default it will attract all prospective clients who happen to enjoy its free service. References Brekke, K. R., & Sørgard, L. (2006). Public versus private health care in a national health service. Munich: Univ., Center for Economic Studies. MARKETING STRATEGY FOR CVS HEALTH CVS strategy sees a shift to long-term care. (2013). The Pharmaceutical Journal. doi:10.1211/pj.2013.11118213 Pride, W. M. (2017). Foundations of business. New York: Cengage Learning. Quelch, J. A. (2015). Consumers, Corporations, and Public Health. Cary: Oxford University Press. 6 ...
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