For the second part of your marketing plan, in 3-4 pages, you are to:
Conduct a Market Analysis on your organization. (Note: the selection of your geographical location in Module 1 SLP will develop this area. You will need to do research on that area to effectively supply information for this section of your marketing plan.)
Examine whether the industry in your selected geographical area is growing, maturing, or declining:
If it is declining, identify the problems that exist and be able to change the ones you can. Show how you can adapt to changes that you cannot control.
If your industry is maturing, show how, as a new company, you may be able to better adapt to external forces; better than the more mature competition.
If your organization is a newly emerging and growing market (the best scenario), differentiate yourself from new competitors. Show how you expect to become a major market share holder, fusing a new approach to the marketplace and utilizing the latest technology.
Acknowledge the problems and challenges of the marketplace you are entering. Use your analysis to construct a strategy that will put you ahead of your competition.
Your focus should also turn to the local scene, since local markets may or may not follow the greater industry trends for various reasons. Compare the local situation to the national and provincial averages; the trends in sales, and the estimated total market that can be reached by local companies.
Conduct an Environmental Analysis on your organization.
Investigate the world in which the organization will be operating. For example, unemployment, layoffs, recession, high interest rates, or reduced consumer activity.
Political and Legal
Explain any past or current political impacts on your organization.
Identify the regulations and laws you must follow in order to operate your business.
Explain social or cultural marketing aspects that should be supported (i.e., larger populations of Spanish-speaking residents; therefore there will be a need for Spanish advertisements).
Conduct a Consumer Analysis on your organization.
Identify your target market and describe how your company will meet the needs of the consumer better than the competition does. Since demands may be different, services will vary between competitors.
Identify the segment of the market (segmentation) that will benefit from your services and area of expertise as well as your approach to selling your product.
Note: The bolded words above should be the section headings and the italicize words should be the subheadings in your Marketing Plan.
(**The combined marketing plan should not exceed 7 pages at this point. This page count does not include the title or reference page)
SLP Assignment Expectations
Conduct additional research to gather sufficient information to support your response/position.
Limit your paper to 4 pages (not including title page or reference page).
refer to this paper
Every organization that wishes to solidify its presence in the market will always do everything possible to reach out to the customers. The management ensures proper marketing as well as management to help increase the market share and even attracting more customers. The Trident Assisted Living is a Long-Term Care Facility that understands this very well and thus the need to develop this market plan. The company management is geared towards ensuring that the healthcare facility attracts customers not only from the locality but also beyond the geographical location. A marketing plan will help to address some of the more critical market issues, thus offering an opportunity to improve the facility turnover.
The health care facility is located within Staten Island of New York City. It is one of the boroughs of New York. Given that New York is one of the most densely, population states in the United States, the geographic location offers one of the best places to establish such a facility. The demographics in the areas are clear, with caucasion commanding a lead in the population. Over 75% of the population is white, with 65% being Non-Hispanic.
Additionally, African Americans form 10.6 % of the population with at least 7% being Asians. Demographically American Indian and Alaska natives account for less than one percent. The average age in this locality is 36 years, with the majority of the population being below 40 years making this demographic the most significant percentage of the whole community. The group of over 65 years and old are slightly below 15 percent of the entire population, with the ages between 40 and 64 years being below 24% of the whole community (Neighborhood Scout n.d.). A prevailing wage employee will earn an average salary of between $43971 and $45000 in Staten Island.
In the beginning, the organization started as a small care center offering medical care services to people with severe illnesses. It was located in a small room inside the suburbs of the Island. The organization was initially started by a group of nurses who saw the need to come up together to offer the care services as a way to give back to the community. The nurses used to charge a small amount of money just for the upkeep and general costs. It was the only facility of its kind in the region, and with time, it became popular and could not handle the increasing number of patients due to size and staffing restrictions.
The organization has now moved to a much bigger building where it will be able to conduct its services and reach out to a more significant number of the communityâ€™s population. The future outlook of the organization is superb, given that there is a dire need for long-term care in the locality. The long-term healthcare need is essential, especially with the changing lifestyle and the increase seen of chronic diseases and conditions. The facility understands that there are different issues affecting people of different ages. Though it has, for some time, operated as a nonprofit organization only for most forms of care, the facility is slowly moving to be a for-profit organization. Now it is an incorporated organization that is offering long-term care.
Marketing Goals and Objectives
The Trident Assisted Living; Long-Term Care Facility mission statement is to offer long term care concerning modern healthcare problems as a result of changing lifestyle and an increase in chronic illnesses across the region and beyond. The organization understands that within a short time, the â€œbaby boomerâ€ generation will have aged up and will become dependents. The significant number of this generation will put on every care facility across the entire nation. This same generation has an urgent need for long-term care to ensure they get the necessary health care they need. This locality has very few long-term care facilities and as such care centers are urgently needed to be established so as to meet the expectant high demand.
There is also the issue of understaffing, where the facility will do everything possible to reach the required levels, including working with volunteers and interns to serve the overwhelming numbers. The care facility also intends to bring on the use of technology in providing healthcare needs (Shalowitz, Stevens and Kotler, 2013). It hopes to use evidence-based research technology in offering services. Deploying an electronic health record will go a long way in ensuring the facility can keep the necessary documents, in an efficient and usable database for long-term care. Additionally, they will use e-health programs to offer real-time health solutions for outpatient care and physician consultancy services.
The hospital intends to attract more customers to the facility by offering quality services and ensuring customer satisfaction at an affordable cost. The organization will ensure it provides community social responsibility through mobile clinics, together with taking part in offering medical services to people facing a humanitarian crisis in the locality. The facility also intends to provide education programs on prevention measures. All this will go a long way in keeping the current customers as well as attracting new customers.
With the selection of the best talents in the job market, along with the deployment of technology, the hospital will be able to offer a higher quality of care. It will follow strict charter rules and regulations, especially focusing on minimizing the time the patient takes to get the necessary help and ensure speedy services through deployment of the electronic health records system. Furthermore, the facility will ensure it will have a fully equipped customer service department that will continue offering excellent services to the customers (Luther, 2011). The management will ensure proper implementation of the code of conduct and accepted nursing best practices at all times. With such, the facility will be unique and will offer the best services to satisfy the customers.
Luther, W. M. (2011). The Marketing Plan: How to Prepare and Implement It.
Neighborhood Scout (n.d.) STATEN ISLAND, NY DEMOGRAPHIC DATA. https://www.neighborhoodscout.com/ny/staten-island/demographics
Shalowitz, J., Stevens, R. J., & Kotler, P. (2013). Strategic marketing for health care organizations: Building a customer-driven health system. San Francisco, Calif: Jossey-Bass.
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