Background
If the company’s core product portfolio is in the local market, these healthcare services could complement the healthcare portfolio, as shown by healthcare services in mature markets. However, in mature markets, there is a lot of competition, and in the early stages of sponsoring health care services, you can gain minimal market share because the market is already crowded with mature competitors. Make a SWOT analysis, where Strengths, Weaknesses, Opportunities, and threats will be evaluated. We can notice the differences in market strategies and their developments after plotting the SWOT analysis. Promoting healthcare services to an international audience is an entirely new ballgame for the organization, as there are various considerations to consider before entertaining a foreign customer. For starters, depending on the company’s market, there will be less competition. As with option 1, the product portfolio will be diverse. However, there are a variety of dangers. P=Political, E=Economic, S=Social, T=Technology, L=Legal, E=Environmental; through a PESTLE analysis, I will Plot all of the points to see what complements and conflicts with the current market strategy, as well as the company’s vision and goal statements.
The First Marketing Proposal
Patients from other countries need to be enticed for the organization to expand its operations on a global scale. The organization must make them aware of the healthcare services provided. Many patients can acquire tertiary medical assistance in the United States. The cluster of tourists visits our nation, and a primary attraction for them is the collection of aid services offered by various medical organizations (Marsh, 2010). These kinds of clientele are known to agencies. They would like to implement specific procedures to increase the number of international customers they service. There are two distinct types of organizations: an established significant corporation that was most likely a pioneer in the medical industry, and the other is an emerging firm. Every kind of organization aims to expand its offerings to a global audience. The organization will pursue several different avenues to broaden the scope of its services on a worldwide scale. It is impossible to provide high-quality medical treatment without effective management of the available human resources. To effectively design new policies, the management of human resources in the health care industry has to get renewed attention, and additional study is required. The implementation of efficient solutions for managing human resources is significant if people worldwide are to enjoy improved access to and outcomes from medical treatment.
Growing Number of Patients
Patients from other countries are drawn to the organization because of its quality in other countries. Becoming well-known across the entire world will require hard work. There are many examples of clinics that serve thousands of patients from beyond the county within the organization. The Mayo Clinic and Johns Hopkins Hospital in the United States are two examples of institutions in this category that serve patients from other countries. “human capital” relates to an employee’s abilities, experience, and expertise. The quality of healthcare services is influenced by the number and quality of healthcare providers. For high-quality results, it is essential to have high-quality service providers. To attract and retain the best doctors, healthcare management needs to employ unique strategies.
One’s obligation and accountability to society and other people is social capital. A company’s social obligation is to provide high-quality healthcare services. Physicians must take responsibility for the quality of treatment they provide to their patients. Regulatory organizations should support professional responsibility in healthcare by maintaining a physician registry, establishing standards for continuing education, the requirement of ongoing professional development, and guiding standards and ethics.
Transparency of information and accountability both contribute to a stronger sense of community.
To improve the quality of medical care, physicians’ attitudes, beliefs, and mindsets must be changed to reflect the importance of quality. There should be an emphasis on teamwork and collaboration. Effective and efficient medical services can be provided by healthcare practitioners that communicate, collaborate, and share responsibility for patient care.
Particularization of the Organization
A great number of organizations are recognized for their work in curing certain diseases, such as cancer. Some clinics can provide a cure for cancer, which is an essential and typically clinic necessity to provide a cure for this illness. The organization was able to gain international prominence by providing medical services in such a region. Having such specialized knowledge serves as an excellent justification for being globally expansive.
Website as an Example of an Online Strategy
Keeping up a website is the organization’s best bet for keeping foreign customers informed about the medical services they offer. It does not merely indicate that some adverts on the website are written in a foreign language. A website can support many languages for users from different countries (Marsh, 2010). They only need to select the appropriate one for them, and the rest of the website will be rendered in that language throughout. Forms for customers to fill out can sometimes be found on websites. The completion of the form conveys to the organization the level of interest exhibited by the customer. The organization can maintain communication with that particular customer.
International Delegation
The Mayo organization in the United States has its representatives in other countries, such as Mexico and Turkey, to facilitate the rapid exchange of information. In a foreign nation, the organization is typically represented by a team of consultants, specialists, or technicians. Their job is to educate individuals in that area about the medical services offered by the organization and bring that information to their attention. Because they have direct contact with the customer, they have a significant influence on how that customer thinks about the company and its healthcare services.
Travels and Vacations in Other Countries
One alternative technique is to have routine tours and trips to the country being targeted rather than having representatives located in other countries. It provides a few services to the people of that country for a brief period and informs them about the services being supplied by the organization they represent. To have a greater influence on the customers, the group that travels overseas includes experienced physicians and surgeons. This marketing method is also used in local to country markets worldwide.
Serving Foreign Government
Maintaining positive relations with the government of a foreign country is a beneficial practice. It made the inhabitants of that country aware of your organization, which will undoubtedly encourage them to seek out your services. Offer the healthcare services offered by your organization to the various government offices. The names of hospitals are listed in rankings of the best hospitals on many government websites. It is beneficial to adopt this technique to penetrate the worldwide market.
The Second Marketing Proposal
To broaden its customer base, the group targets people of retirement age. The implementation of this plan will be deemed successful once one-third of the population of the United States falls into the relevant category (Fell, 2002). Over millions of customers in the country are over the age of 50, and the organization’s focus is on reaching out to those particular customers. The following is a step-by-step depiction of the various marketing methods that can be utilized.
Obtaining Information from an Already Existing Database
It is beneficial to research the records of the patients who came before. The organization keeps a record of every individual patient who has utilized its services and holds this record in a patient database. Clinics will search their patient database first before looking for new patients because it is far more efficient. It offers the company the ability to adapt to changing market conditions and attract more customers. Get in touch with them and make sure they know what is currently being provided in the way of healthcare services. The last customer is aware of the services he received the previous time. It is possible that he would choose to receive services from the same clinic rather than travel to a different service provider. The hospital atmosphere has been shown to have both a positive and negative impact on the quality of healthcare. Supply and equipment availability and time allocation at the hospital have an impact on the quality of healthcare services. The majority of doctors who took part in this research agreed that a lack of resources substantially limits the quality of medical services. Economic constraints had led to a paucity of employees, fragmented care, and a lack of time for personalized patient services. Quality issues can easily be traced back to purchased materials. Organizations providing healthcare must have adequate funding to make great investments in patient’s care.
Internet Marketing
These days, internet literacy extends to the age group of people who are more than 50 years old as well. They fill their time by accessing various websites and surfing the internet. The organization uses the benefits and raises awareness among the beneficiaries regarding the healthcare services it offers over the internet. The term for this strategy is known as internet marketing. Despite this, a significant percentage of customers of older ages do not make widespread use of the internet, despite the fact that doing so is a standard method for expanding a business’s reach.
Utilizing Their Own Patience as A Marketing Tactic
It is the a that does not require any money to be spent on marketing. The client or customer who has utilized your company’s services in the past serves as the marketing channel for your business. If customers are pleased with the services they receive from your organization, they will likely tell others about it and spread the word about your business. Because there is nothing left for the organization to perform, it is quite evident that it has not experienced any costs. People who are informed about health services are more likely to rely on the experiences of others who have utilized the clinic’s services than on the advertising that is distributed by the clinic itself.
Establishing and Maintaining Ties with Customers
Maintaining a relationship with an established client prevents the client from switching to another clinic. Keeping in touch with them can be accomplished in a variety of ways, such as by wishing them a happy birthday and sending them text messages on their mobile phones to wish them a happy anniversary or best wishes on a variety of other occasions. By doing so, the patient is able to remember the name of the organization, and in the event that he has any health-related issues in the future, he is more likely to return to the same organization rather than visit a different clinic. If a firm adopts these techniques, it will become more appealing to its customers, which will result in increased future advantages.
Best Fit Proposal for the Business Opportunities Highlighted
The first proposal is the one that corresponds most closely to the business potential highlighted by the CEO. It is possible for the firm to accommodate a focus on the more experienced customers within the framework of the techniques that it already employs. The consumer of old age is included in the target audience for advertisements directed at typical consumers of all ages. There is no use in concentrating on the senior consumer when this demographic may also be reached through traditional marketing. Developing different business plans for each of them will increase the company’s expenditures and provide no results at all or result in minimal quantities.
However, as was indicated in the previous proposition, expanding marketing doors will undoubtedly lead to an expansion of the firm. The opportunity presents itself with the most significant potential for success in light of the initial idea. The following are some advantages of having patients from other countries: A fresh demographic of customers is considered. There is a possibility of becoming a player on the international stage, increasing the organization’s level of notoriety. Moreover, there is a chance of obtaining beneficial incentives and the possibility of regional expansion; additionally, local consumer spending is impacted. Opportunities, as well as those that compete with and complement existing market strategies
The second suggestion, which includes concentrating on mature customers based in the country, appears to be in direct competition with the company’s existing market strategies. The most recent marketing methods concentrate on all individuals chosen from each age bracket. There is no point in developing a unique strategy for mature consumers because the policies in place already cover persons of senior age. Therefore, it is very evident that this tactic is incompatible.
On the other hand, according to the first plan, the organization primarily needs to emphasize new customers from overseas markets. In this way, the economy and world growth are being supported. This is an opportunity that might be viewed as complementary to others. Recommendations to be made to the Chief Executive Officer Regarding the Two Proposals.
The first proposition should be considered because it offers the most potential for the company’s expansion. The CEO should go along with this recommendation to broaden their customer base within the domestic market (Fell, 2002). If the organization approves the initial proposition, numerous investors will likewise join the company. Several manufacturers are using this strategy to increase their business’s bottom line.
References
Fell, D. (2002). Taking the U.S. health services overseas. Marketing Health Services, 22(2), 21-23.
Marsh, D. (2010). Marketing to the mature marketplace. Marketing Health Services, 30(1), 12-17.