Marketing Mix Strategy

Erika Cortez

University of Phoenix

Ricci Rizzo

July 18, 2022

Part 1: Product Strategy

Success in today’s economy stems from excellent organizational and planning skills along with the ability to be flexible. In an organization, there is always a time when things do not work as planned, and you need to reassess the plan to find and create something that works better for the organization. The first plan is to incorporate growth within ECRHS by focusing on women’s health care throughout the community. According to Faith & Main consultant’s report, 36% of women in the area would travel across county lines to receive health services, and 72% of women in Chestnut County would use the women’s services of East Chestnut Regional Medical Center. Women in all counties were primarily interested in breast care, general gynecology service, access to female doctors, physicals for women, and services in one centralized area (University of Phoenix, 2021). Producing a new women’s center would benefit the community and health system. The new women’s center would generate more revenue and better health for the women in the community, increase obstetrical deliveries, improve access standards for women’s care, and improve access standards for women’s care.

Part 2: Pricing Strategy

Pricing strategy refers to the methods companies use to price their products or services (Suttle, 2022). Setting the correct prices for your products is a balancing act. Your pricing strategy is based on your target audience, their willingness to pay, and what competitors charge for a similar outcome. Also, it is based on demand and market conditions. As ECRHS expands, so will the prices. ECRHS will seek to keep costs for their services at a reasonable rate, so they are aligned with their competitors within the community. They will reward and provide incentives for healthy behaviors such as prenatal care, child immunizations, and wellbeing reimbursement programs. Providers will provide on-call services 24 hours a day, seven days a week. After being seen by a provider, a follow-up appointment will be needed, and these visits will be discounted to the patients. For patients who must pay out of pocket, a payment program will be available to make payment arrangements for care provided. This could be an excellent way for patients who do not have insurance to be seen by a physician and could increase patients and sales for the organization. In addition, for ECRHS to gain more profit, it would be wise to bring in more physicians to help with the patient increase. To provide quality healthcare, well-qualified providers with expertise in each specialized field would benefit the community. Incentives will be provided to the new physicians onboarding with ECRHS, such as sign-on bonuses and personal leave.

Part 3: Placement Strategy

Product placement offers many benefits that traditional marketing does not. It is a marketing strategy that subtly advertises a product and can effectively increase sales for any organization. An advantage of product placement is that you can access an audience that you may not be able to reach through conventional marketing (“Indeed,”2022). ECHRS first needs to gain back the public's trust before thinking about generating increased revenue. ECHRS has 100 acres of land purchased for their new site and is in the process of opening a women’s center that is centralized and provides women’s health services that consist of breast care, gynecology service, and physicals for women increased obstetrical deliveries, and cancer imaging center. ECHRS needs to join forces with Chestnut Care Insurance to find a way to incentivize patients who are utilizing their care system. Another option would be to provide discounts to out-of-pocket payers that can be used towards their bills. They must retain all their new patients to stay competitive with their opponents. ECHRS must remain as transparent as possible to gain the community’s trust. This means keeping costs at a reasonable rate for its patients but still being competitive with its competitors.

Part 4: Promotion Strategy

A promotion strategy is a way to inform, persuade, and stimulate action from the people or organization of a target market. ECRH has many methods that can be utilized, beginning with social media and developing a user-friendly website. Establishing a patient portal, online scheduling, virtual tours of the new facilities, and up-to-date health information will be provided on the website in addition to delivering all products and locations of the providers within that location. Billboards will be displayed throughout the community, and the grand opening announcement of the facility will be televised and broadcast on the radio. Flyers will be sent to homeowners and businesses near and around the new facility to advertise the grand opening and the services that ECRHS will provide for the district. ECRHS will need articulate to its consumers that they are dependable and here to provide the best healthcare within the community.

References

Case Study: East Chestnut Regional Health System; 2021, University of Phoenix