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Value of branding in healthcare
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Assess the value of branding in health care. Specifically, under what circumstances do you feel that it is beneficial for health care organizations to use branding?
Branding has been successfully practiced by consumer packaged goods companies for decades. But only recently have health care organizations begun to embrace this concept and hence, few of the well developed brands exist. Branding is beneficial for health care organizations because the rewards of branding can be great as it provides an opportunity to truly assess the needs of their members, develop capabilities to meet those needs and more effectively communicate the ability to meet those needs. To develop a strong brand, hospital executives must gauge the brand from the patient's point of view to figure out what they like or dislike about the brand. It also noted that a great hospital brand appeals to emotions with a powerful experience that goes beyond quality metrics and connects to patients. Brands matter and health care is no different. It is about patient care and complex science, but it’s also about dollars and cents. Branding is a $2.8 trillion industry in the U.S. alone, and every sector in the industry needs revenue growth because demand for health goods and services is increasing rapidly and medical inflation and labor costs add 3% per year to costs of operation. And in health care, a strong brand can often lead to more revenue.
Historically, brands were built on impressions by first hand users such as patients, members, clinical trial subjects or word of mouth. In some sectors, advertising helped bolster brands hospitals, drug companies, and insurance plans invested strategically to win hearts and minds of their customers, and differentiate to the extent...
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Popular brands and companies typically rely heavily on brand names to unfairly convince people to buy their specific product, even though another brand would likely work almost the same. In order to do this, those companies use many elements of ethos, but they also attempt to establish the superiority of their brand with logos and pathos. In the commercial, “Colgate Dentist DRTV,” the brand attempts to persuade consumers to buy Colgate Total toothpaste by presenting their name and relatable women, followed by attractive visuals, but ultimately the advertisement fails to provide enough logic to convince a well-informed audience that it truly matters which brand of toothpaste they buy, and that Colgate is better than any
With 17 existing hospitals and ____ physician practices, the Greater New Orleans Region of Louisiana is not a practical choice for Kaiser Permanente expansion. The four parishes: Plaquemines, Jefferson, St. Bernard, and Orleans would not make for a successful business venture. This report examines how the Kaiser Permanente Brand and Strategy Division assessed the region and determined the region could not realize and expand the mission and vision for Kaiser Permanente…..
Henry Ford Hospital (2016) is also affiliated with Wayne State University Medical School. The hospital is recognized for clinical excellence and innovation in several fields including: cardiology and cardiovascular surgery, neurology and neurosurgery, orthopedics and sports medicine, organ transplants, and treatment for prostate, breast and lung cancers (Henry, 2016). Marketing is a key aspect of any organization. Marketing is defined as the activities and processes for creating, communicating, delivering, and exchanging offerings for clients, customers, partners, and society as a whole (Rooney, 2009). Specifically, Henry Ford Hospital is a nonprofit organization. Non-profit marketing is defined as a management process of exchanges undertaken by NPOs, and aimed at generating a social benefit to a more or less wider group of society (Garcia & Gonzalez, 2013). Current challenges in marketing that the hospital has will be discussed, as well as how segmentation and target marketing are applied at Henry Ford Hospital. Lastly, how the organization’s services are positioned to meet the demands of the target market will be
Universal health care is a topic that plenty of Americans are arguing over. In editorial one, the author uses anecdotal and logical evidence to help provide evidence for his claims about why America should have a universal health care system. In editorial two, the author uses the rhetorical appeals of ethos, logos, and pathos to argue against creating a universal health care system in the United States.
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Increasing awareness of a personal and unique identity distinguishes us from the pack. A brand mantra differs from a tagline, explains Guy Kawasaki, as a mantra describes internal business, a standard for a company to abide by. A tagline is for customers and what they can expect to be delivered (Martinuzzi, 2014). John Jantsch, founder of Duct Tape Marketing defines branding "the art of becoming knowable, likable and trustable” (Martinuzzi, 2014). Many specialists on the subject agree that trust building is essential in success. Being honest is one of the top five steps Forbe’s advises when it comes to brand building (Biro, 2013). Some suggestions to follow from, How to Build an Unforgettable Personal Brand (2014) include, making sure customers are provided what is promised, leading with unwavering quality and being consistent in making good on one’s word. The article also warns that the public will assign a default brand if a
In this unit, we will be discussing real-life healthcare organizations, the 5 P’s of healthcare marketing, and evaluation strategies that may be used to determine marketing potential.
The mass production of consumer products has given rise to excessive use of branding. Due to increase in competition between companies that produce similar products, companies now aim to differentiate their product from others by solidifying their brand identity and creating awareness about their brands. The utilization of such branding strategies would not be much of a concern if they were only restricted to consumer products like food, clothing, beverages (Coke, Pepsi), etc. However, the influence of these strategies extends well beyond that. Even pharmaceutical companies have undertaken the approach of Direct-To-Consumer Marketing strategies where they target millions of healthy Americans by exposing them to persuasive commercials in the hope that they would buy the drugs sold by these pharmaceutical “brands”. This approach is very contrasting to the strategies used by pharmaceutical companies in the past. Previously, when patients needed medical attention, they would consult their doctors who would prescribe an appropriate medication for curing their illness. Due to this, pharmaceutical companies would target their marketing to medical professionals and doctors by promoting their drugs at conferences and in medical journals. However, today they have started using Direct-To-Consumer marketing strategies that entail consumer advertising, which directly target the consumers. The purpose of this research paper is to analyze the ways in which pharmaceutical companies use Direct-To-Consumer marketing for selling ailments to healthy customers and disillusion them into believing that they have a disease. To support this argument, the research paper will touch upon various marketing strategies that pharmaceutical companies use to creat...
Advertising generally tries to sell the things that consumers want even if they should not wish for them. Adverting things that consumers do not yearn for is not effective use of the advertiser’s money. A majority of what advertisers sell consists of customer items like food, clothing, cars and services-- things that people desire to have. On the other hand it is believed by some advertising experts that the greatest influence in advertising happens in choosing a brand at the point of sale.
Today's modern concept of branding grew out of the consumer packaged goods industry and the process of branding has come to include much more than just creating a way to identify a product or company. Branding is used to create emotional attachment to products and companies. Branding efforts create a feeling of involvement, a sense of higher quality, and an aura of intangible qualities that surround the brand name, mark, or symbol.
Some people feel that marketing is nothing but placing an advertisement that sells a product or service. It is far more complicated than that. It requires many tools, methods, and concepts in order to ensure the product or service success. Marketing requires much forethought and strategies. Marketing needs to be handled in a methodical and organized fashion, otherwise risk for failure is inevitable. Many feel that competition is bad for marketing, yet it is actually a great tool in which marketers can adjust their product or service offerings. Even though healthcare mainly consists of services, these services still need to be sold to the public. This essay is going to demonstrate all of the different tools, techniques, methods, and concepts
The practice of brand management is a key component of marketing and performs an integral function by motivating the wants and needs of consumers. It is known that marketing can shape consumer needs and wants, however, consumers today appear to be more knowledgeable about the information regarding products. Consumers lead busy lives and have therefore gone to the internet as one of the many channels to learn about products in order to make informed decisions. This paper will discuss the argument that marketing should reflect the needs and wants of consumers rather than shaping these attributes. Due to the speed and ease of obtaining information, consumers do not take at face value strong marketing efforts that appear to be overly aggressive and push a brand rather than just being informative. Brand managers have to be aware of these changing dynamics and carefully craft brand management practices to meet the demands of consumers.
Kotler, P., & Clarke, R. N. (1987). Marketing for health care organizations (p. 265). Englewood
This article studies the relationship between advertising and sales promotions and their impact on brand equity. A main priority for most companies is to establish and achieve a strong and powerful brand name. A company can build a strong brand name by creating the market for their customers want. By creating a strong brand name, a company will become more established. Brand equity is important to the producer, retailer and consumer. The consumer knowledge of the brand says how the producer will produce and market the product. The consumer knowledge of the brand name also determines the quantity the retailer will sale. Brand equity can have a positive or negative effect. A positive effect would be for everyone to recognize the name and purchase the product. The negative effect would be to have the product recalled. Brand equity is important because it can offer many advantages for a company. Brand equity can create a high demand for your product, reduce marketing cost and the company’s brand name will have high credibility.
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