Card Set Information
The process of planning and executing the conception pricing, promotion, and distribution of ideas, goods, And services to create exchange that satisfy individual and organizational objectives.
What is recognized as a central component to the operations of health care organizations?
The importance of customer satisfaction is now recognize as the central component to the operations of health care organizations.
What are the pre requisites for marketing
2 or more parties with unsatisfied needs, desire for ability of 1 party
to meet the needs of another parties. Must have something to exchange, there must be a means to communicate.
What is marketing research?
Marketing research is a process in which there is a systematic gathering of data from customers to identify their needs.
What are the 4 p's of marketing?
Product price place promotion.
Define marketing matrix.
The mix of controllable variables that the firm uses to to pursue the desired level of sales.
What focuses on what customers are willing to pay?
Wish or desire
A condition in which there is a deficiency of something
During the sales era, what was the focus of Hospital administrators?
To get as many patients aa possible, advertising.
The focus of marketing oriented institution can be viewed as. ..
Patient focused health care approach.
What are the 5 elements of marketing orientations
Long term focus
Non market based planning sequence
Steps in market driven planning sequence?
Mission and goals
Added target market needs
Identify differential advantage requirements
Preterm Service concept
What 3 factors must an organization be sensetive to in the strategic Marketing process?
Society at large
Any group with which a company has,or wants to develop a relationship .
The term environment from a marketing standpoint means. ..
The regulatory,social, technological, economic, and competitive factors to which the organization must be sensitive when developing a new strategy.
What is the core of a marketing program?
What is required to meet the target market requirements ?
Pressure to be market oriented
Capacity to be market oriented
A clear shared vision of the market
Actionable first steps
What are strategic business units?
Business that operate as separate profit centers within a large organization
what is a market- oriented organization
a distinct major market has its own marketing organization
What are the value and the focus of a market-oriented organization?
Customers who have different buying structures and purchasing requirements.
What are the prerequisites to marketing success
Pressure to market oriented
Capacity to be market oriented
A vlear vision of the market
Actionable first steps
Accountable care system
An entity that can implement organized processes for improving quality and controlling costs of care.
a process that describes the direction an organization will pursue within its chosen environment
What are the steps required to develope an effective strategic plan?
Define the mission
conduct a situational assessment of threats and opportunities
establish a set of priorities based on organizational objeectives
Organizational mission refers to..
Organization's fundamental purpose for existing, it's values, and the customers it wishes to serve
What are the components of an effective mission statement?
recognizing what the business is and what the customer wants.
What is situational assessment?
an analysis of the organizations environment and of the organization itself (SWOT)
the exmination of strenghts, weaknesses, opportunities, and threats
Barriers to entry
conditions a company must overcome to pursue a business opportunity
For the SWOT to be successful the organization must be willing to do what?
Turn focus of the SWOT analysis away from products and toward its business processes.
Capitalize on its strenghts.
Turn any weakness into strengths
What are the criteria for a good differntial adantage?
What are 3 areas in which an organization can seek a differential advantage?
Define Principle- Agent as it relates to trust...
Allowing the physician to make decsions on the patients behalf
What is market based differential advantage?
focus on a particular market segment
What is invisible value?
the value that the producer builds into its product or service
What is visible value?
Value that is seen by the customer.
The managment of both invisible and visible value is referred to
What are organizational objectives?
long term performance targets the company hopes to achieve
What is the market penetration strategy?
increasing the sales of present products and services in present markets
What is market development strategy?
initiating sales of existing products nd services in new markets
What Growth Market Strategies?
gaining more sales from an existing business line or penerate new markets.
What is vertical and backward intergrations?
Vertical incorpaorates related services or products
Backward entails being its own supplier.
Define Strategic Alliances
formal arrangements with other companies to operate in a particular market
What are some consolidating strategies?
9 elements of market attractiveness
distinct marketing strategy is developed for each group
market concentration strategy
targeting only one segment of the market
the aquisition and use of information about events, trends, and relatinships in an organization's external environment
amount of income a consumer has left for food, clothes, and shelter after paying taxes
income left after paying taxes and neccessities
statistice that describe members of a population in terms of who they are, where they live, and the types of jobs they have
what is the function of the Herfindahl- Hirschman index
it measures overall competitiveness in the market
Sherman Anti-trust act
forbids anycontracts, combinations, or conspiracies in the restraint of a trade
Supplemented the Sheerman Antitrust Act if no damage had occured
What is the function of the federal trade commision?
legislation forbidding deceptive or misleading advertising and unfair business practices
it is necessary for all amrketing action are complint with what regulations
HIPPA ( Health Insurance Portability Accountability Act)