Product Development

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Health services continue to affect the gross domestic product, and this dramatic transformation has great demands on each dollar spent to deliver patient-centered products. Health care marketing must be repeatedly applied and practiced strategically to include environmental dimensions, such as technology, socioeconomics, competition, and regulatory.In today’s global economy, investors and potential entrepreneurs must tap into the so-called “unexplored” market. In this aspect, health care establishments must use marketing, advertising, as well as sales strategies when pursuing new customers. For example, suppose a health care investor wanted to build a small hospital in a rural community—this would entail exploration and logistical experimentation to determine who will patronize the facility. In an impoverished neighborhood, the feasibility of having lucrative profits may see diminishing returns, and so the venture may be not worth the effort. Also, suppose that the potential investor wants to sell mosquito deterrents (such as bedside netting in malaria-infested regions of Asia or Africa). In that case, it would be wise to investigate the number of beds that are in the village, and who would be willing to purchase them. These activities consider the investor portfolio, as well as the feasibility of marketing and selling the product. Such exploration also examines competitors, cultural differences, and—most important—identification of the customer.Using the health care organization you identified in the learning activity last week, determine its product development practices. Use the concepts from previous weeks to substantiate information, as needed. You may develop the discussion based on the ideas presented here, but feel free to inject any relevant marketing strategy that you believe might support your presentation.Write a 3–4 page paper in which you:

Justify the purpose of the selected health care establishments’ product(s) / service (s) and their associated life cycle(s).
Suggest one strategy to improve the marketing mix of the selected health care establishment. Support your strategy by highlighting one benefit of portfolio analysis and providing two examples that display differential advantages.
Discuss the impact of possible economic decline on product-market expansion and how it can affect business planning based on global operating environment.
Assess the importance of technology in providing patients with clear and accessible information about health care organizations and the product(s)/service(s) that they provide.

 

Sample Solution

The purpose of a health care organization’s product or service is to effectively meet the needs of their customers. These products and services are typically offered at different stages in the life cycle, beginning with research and development, followed by launch and growth, then maturity, decline, and eventually termination (Gronroos & Ravald, 2018). For example, a health care provider may develop a new drug to treat an illness that has not been addressed before. This would involve extensive research to ensure its safety and efficacy for patients. Once approved for use in patients, the drug may go through various phases of marketing including launching it into the marketplace and growing awareness about its benefits. Over time the demand for this particular treatment may decline as newer treatments become available or more effective alternatives emerge. At this point it may be necessary to terminate production of the drug in order to make way for more modern solutions.

In this context it is important for health care organizations to have well-defined strategies when developing new products or services as they navigate through each stage of the product life cycle. Through careful analysis they can identify opportunities where their offerings can create value both internally as well as externally within their markets (Kotler et al., 2016). In some cases additional resources such as marketing campaigns might be required in order to promote growth during peak times while investments into innovation will help sustain long-term advantages over competitors. The ultimate goal should always be focused on providing quality patient-centered care that meets current market demands while also preparing organizations for success even after current trends have shifted.

 

 

The Definition of Love

As the word reference includes new words every year and alters the definition, we saw a move in the meaning of adoration. Today, the meaning of adoration that is commonly acknowledged is “energetic scene” (Webster). This idea of adoration starts with delineation in Hollywood Media, prompting the loss of history and the genuine significance of that word. Love is characterized as “compelling feelings to family members and family members” and “feelings dependent on applause, benevolence, or regular intrigue” (Webster), yet the ongoing definition is generally like what is by all accounts the fascination of Hollywood It is.

Meaning of adoration The meaning of affection is typically the feeling being investigated in reasoning, religion, writing, as sentimental love, club for other people, or love for God as characterized in the Encarta Encyclopedia. At the point when I looked into definitions through the Internet, books and articles, I saw that the definitions changed altogether, yet they have a similar essential comprehension. – Since the word reference includes new words each year and alters the definition, we saw a move in the meaning of adoration. Today, the meaning of affection that is commonly acknowledged is “energetic scene” (Webster). This idea of affection begins with portrayal in Hollywood media, prompting the history and genuine importance of lost words.

What is the meaning of adoration? A conventional definition shows that adoration is a compelling feeling, beguile realized by sexual want, and energy or love. These definitions are right, yet the words have a more profound importance The words have feelings, decisions, or even perspective. Love is superb; regardless of whether you attempt it is unthinkable, you can not live without it. Indeed, even a youngster’s toy, a pet, a notable individual, everybody has something profound, so it is difficult to live without adoration. For instance, kids have most loved toys and covers, and youngsters like their “sheltered ones”. Regardless of whether it’s anything but a living thing, they will have solid emotions against it. Realizing that the proprietor likes it will cause creatures to feel secure, recapture regard and make their proprietors safe. This time we entered the adoration for others for another sex.

 

 

 

 

 

 

 

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