Application: Product Strategy, Pricing, and Distribution
Marketing information is critical throughout the product life cycle. The marketing function also plays an essential role in determining pricing and distribution for products or services.
Prepare for this Application Assignment as follows:
- This week's media segment, " Strategic Planning in Action: Good Samaritan Hospital of Maryland" presents some information on the marketing decisions made for the JointExperience and The Spine Center at that hospital. Consider how the information presented in this media segment relates to the concepts and ideas presented in the course text, as well as last week's media segment.
- With this in mind, select a specific health care product or service of interest to you. For instance, you may choose an over the counter medication, medical device, or specialty care within a health care organization. If you would like, you may use the same product or service you selected for the Discussion.
- Research the product or service you have selected using the Internet and the Walden Library. Analyze your selected example in terms of concepts related to:
- Product strategy, including the product life cycle and branding (Chapter 8 of Essentials of Health Care Marketing)
- Price (Chapter 9 of Essentials of Health Care Marketing)
- Distribution (Chapter 10 of Essentials of Health Care Marketing)
- Also analyze the connection between these aspects of marketing and strategic planning. Why is it important for these elements of marketing efforts to be tied to a strategic plan?As you formulate your analysis, be sure to include insights from this week's Discussion, various Learning Resources, and your own research. You should identify at least two journal or news articles that further your understanding of these concepts and how they apply to the product/service you have selected.
Then write a 2- to 3-page paper that addresses the following:
- Analyze your selected example of a health care product or service in terms of product strategy (including product life cycle and branding), price, and distribution. Include references to two or more outside resources that further your understanding of these concepts and their application for this product/service. Make note of any information that would be helpful for your analysis but is not available.