Evaluate the potential value of michael porter five forces
Evaluate the potential value of michael porter five forces
Marketing Management
Part A –
Argue whether or not you believe that health care marketers must understand
customers and their perceptions of product offerings in order to effectively
monitor prowess at addressing and satisfying customer wants and needs. Provide an
example of your argument in action to support your rationale.
Assess the value and importance of a PEST Analysis as a tool for mentoring and
evaluating the macro-environment. Provide at least two (2) specific examples of
PEST Analysis that apply within a health care organization with which you are
familiar.
Please respond to the following: “Michael Porter’s Five Forces Model” (2 pages with
references)
Examine the key reasons why intense competition and rivalry characterize the health
care industry. Suggest one (1) example to support your rationale.
Appraise the value and importance of Michael Porter’s Five Forces Model as a tool
for facilitating the understanding and addressing of the competition within the
health care industry. Provide at least two (2) specific examples of Michael
Porter’s Five Forces Model that apply within a health care organization with which
you are familiar.
Part B –
Case Study: Stopping Outshopping
Read the case study titled “Stopping Outshopping”, located in the online course
shell. Then, use the Internet databases to research similar marketing strategies in
the health care industry.
Write a four to six (4-6) page paper in which you:
1. Based on the textbook’s summary of Timothy’s philosophy of continually striving
for excellence, determine whether or not Scarlet Hospital was prepared to compete
with the establishment in Salem even before the highway improvement mandated such
an upgrade in delivery health care services.
2. Examine the potential lessons that the “Stopping Outshopping” case could teach
health care executives about complacency.
3. Evaluate the potential value of Michael Porter’s Five Forces analysis and SWOT
Analysis for effective decision making, in its ability to help Scarlet Hospital
protect its market share and thus decrease the chance of losing patients to other
institutions in Salem.
4. Appraise the value of the Balanced Scorecard model in its ability to help
Scarlet Hospital executives reinforce its defensive marketing strategy.
5. Propose a one (1) page offensive marketing strategy (i.e. communication,
branding, innovation, etc.) that Scarlet Hospital should deploy in order to turn
the table on Salam-based health care providers and improve its competitive
marketing position.
6. Use at least five (5) quality academic resources. Note: Wikipedia and other
Websites do not qualify as academic resources.
The specific course learning outcomes associated with this assignment are:
Examine the marketing research process and market segmentation strategies in the
health care industry.
Integrate the SWOT Analysis into viable recommendations to meet the health care
services organization’s operating requirements.
Analyze the components of the balanced scorecard and conduct trend and ratio
analysis to assess health strategic marketing.
Apply Michael Porter’s Five Forces analysis for effective decision making to
efficiently utilize health services resources and achieve organizational goals.
Explain the impact that the population and societal, competitive, and financial
forces have on health care services.
Use technology and information resources to research issues in health services
strategic marketing.
Write clearly and concisely about health services strategic marketing using proper
writing mechanics.