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JMU - OTH 104 - Study Guide - Midterm

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JMU - OTH 104 - Study Guide - Midterm

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background image Health Care Marketing Study Guide- Exam 1  Marketing Overview o Marketing:  The process of planning and executing the  conception, pricing, promotion, and distribution of ideas, goods, 
and services to create exchanges that satisfy individual and 
organizational objectives”
o Marketing is  NOT:  Selling  Public Relations Development/fundraising  Planning o Foundation:  Marketing is based on identifying customers (buyers) and 
their needs
Customers have differed needs and purchasing 
requirements
Therefore, different strategies are used to address target 
markets 
Levitt coined phrase: “the purpose of a 
business/organization is to create and maintain a 
customer”
o Marketing Orientation:  Customer orientation- understanding buyers to create 
superior value 
Competitor orientation- identifying competitors and 
recognizing their strengths/weaknesses/strategies
Interfunctional coordination- coordinating across functions 
to create customer value
Long-term Focus- improving offering by creating additional 
value
Profitability- earning revenues in excess of expenses o Market Share  Three hospitals: how much of the share do they have? Mercy: 20,000 (20%)
background image Doctors: 20,000 (20%) Sunrise: 60,000 (60%) Relationship to Strategic Planning  o Strategic planning- provides the direction for the organization, in  line with the mission and values Process:  Values/Mission/Vision Strategic Assessment (Situational analysis) Formulate Goals and Objectives Strategy Choice Implementation: develop ops plan, allocate 
resources, engage marketing activities
Control: feedback to goal/objective formulation o Marketing- provides the tools and tactics to achieve the Strategic Plan The 4 P’s Product- what we offer to customer Price- the means of exchange Place- How we make the product/service available to the  customer Promotion- How we communicate with the customer (methods  and appeals) Health Care Customers o Who buys from whom? Environmental Assessment/Marketing Research/Competitor Analysis o Marketing research steps:  Problem recognition Identification of research objectives Research design  Data collection 2

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School: James Madison University
Department: OTHER
Course: Healthcare Marketing
Professor: Jon Thompson
Term: Fall 2016
Tags: Marketing, Healthcare, and analysis
Name: Exam 1 Study Guide
Description: Chapters 1-5
Uploaded: 09/19/2016
4 Pages 19 Views 15 Unlocks
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