Overview
The final project for this course is the development of a healthcare marketing plan based on an identified product or service in a healthcare organization. You will choose a product or service of an existing healthcare organization as the subject for this project. The product or service should be chosen based on an assumed potential for increased sales as the result of the marketing plan. After conducting research, you will create a healthcare marketing plan that identifies a target audience, analyzes the market for the product or service, and executes a plan for improving upon the product or service. A SWOT analysis, competitive analysis, and budgeting will be components of the healthcare marketing plan.
The project is divided intothreemilestones, which will be submitted at various points throughout the course to scaffold learning and ensure quality final submissions. These milestones will be submitted inModulesTwo,Three,andFive.The final draft will be submitted inModuleSeven.
This assessment will address the following course outcomes:
• Explain common marketing issues present within healthcare organizations
• Correlate the relationship between the needs assessment and marketing processes
• Interpret market data applicable to the campaign process
• Propose strategies to maximize the effectiveness of healthcare marketing campaigns
Prompt
Choose an existing healthcare organization and identify an issue that exists with one of its products or services. Create a healthcare marketing plan that provides suggestions for improving upon this issue.
Specifically, the following critical elements must be addressed:
1. Organization
a. Explain your chosen healthcare organization and describe its mission, goals, and current products or services.
b. Describe an existing issue with one of the products or services offered by the healthcare organization.
c. Describe the product or service price and placement within the market (for example, the Providence outpatient clinic for the homeless utilizes Medicaid as its main payer sourceand is located in downtown Portland).
d. Describe the root cause of the issue, and clearly state assumptions for improving sales of this product or service.
2. Target Market
a. Clearly establish the target marketthat the marketing plan will address.
b. Describe the demographics of this target market, including age, sex, job description, and motivation for the product or service.
3. SWOT Analysis
a. Analyze your organization's internalstrengths and weaknesses. Consider factors such as personnel, finances, manufacturing capabilities, corporate culture, product or service pricing, current promotion, and so on.
b. Analyze your organization's external opportunities and threats. Consider factors such as competitive position, applicable legislation, technology, and any other macroeconomic considerations.
4. Competitive Analysis
a. Define the scope and natureof the healthcare industry segment (pharmaceutical, internal medicine, rehabilitation, etc.).
b. Determine who the competitors are and describe their individual strengths and weaknesses with respect to your chosen organization and product or service.
c. Define the key success factors in the chosen industry and rate competitors based on these factors.
d. Summarize the organization's market position in light of the analysis.
5. Proposed Strategies
a. Propose a strategy for solving the identified issue (sales plan, advertising, process improvement, etc.) and explain the rationale behind the chosen strategy.
b. Describe how your strategy will fill a need or find a competitive advantage.
6. Proposed Budget
a. Complete a proposed budget for the entire healthcare marketing plan. Include a financial estimate for promotional materials and any advertising that would need to be included in the budget.
7. Tracking Plan
a. Include a plan for tracking the effectiveness of the marketing plan.
Milestones
Milestone One: Introduction of Organization and Product/Service
InModule Two, you will submit a description of your chosen organization and the product or service that will be the focus of your marketing plan. Describe the organization's mission, vision, values, goals, andmarket objectives and describe the product or service, along with your rationale for choosing your product or service. The format for this assignment is a one-page Word document following APA guidelines. This milestone will be graded with theMilestone One Rubric.
Milestone Two: Target Market and SWOT Analysis
In Module Three, you will submit the chosen target market with demographics and complete a SWOT analysis. Describe your target market's demographics to include gender, age, income, occupation, education, household size, and relationship to the product or service. Then complete a SWOT (strength, weakness, opportunity, and threat) analysis that addresses the following:
• Analyze your organization's internal strengths and weaknesses. Consider factors such as personnel, finances, manufacturing capabilities, corporate culture, product or service pricing, and current promotion.
• Analyze your organization's external opportunities and threats. Consider factors such as competitive position, applicable legislation, technology, and any other macroeconomic considerations.
At least three items should be listed in each category of the SWOT analysis, accompanied by a brief description of each.The format for this assignment is a one- to two-page Word document following APA guidelines. This milestone will be graded with the Milestone Two Rubric.
Milestone Three: Competitive Analysis
In Module Five, you will complete and submit a competitive analysis. This analysis will include a list of competitors with strengths and weaknesses, strategies and objectives, and market outlook. The format for this assignment is a one- to two-page Word document following APA guidelines.This milestone will be graded with the Milestone Three Rubric.
Final Project Submission: Healthcare Marketing Plan
In Module Seven, you will submit your final marketing plan. This plan must contain the three previous milestone elements as well as additional elements, including the specific strategy to exploit opportunities identified in your SWOT analysis, specific promotional techniques, the budget necessary to execute your plan, and a way to track the effectiveness of the plan.This submission will be graded with the Final ProductRubric.
Final Product Rubric
Guidelines for Submission:Your submission should be 7-10 pages in length (in addition to the cover page and resources) and should use double spacing,
12-point Times New Roman font, one-inch margins, and APA-style citations.