3.0 Company Analysis
The current TMC Life Sciences Berhad market price is RM0.39 and it is maintaining a rather constant fluctuation (Bursa, 2014). The company has made revenure since 2012 and is showing a promising start of second quarter for financial year 2014. TMC was the first medical centre in South East Asia that installed a 32 Channel 1.5 Testa Magnetic Resonance Imaging (MRI) machine and the first to install the latest full field mammogram system in 2013. With its state-of-the-art facilities, 180 beds and over 70 praiseworthy consultants from various specialties field, TMC shows competitive advantages and differences when compared to its competitors. Aside from hospital, TMC has fertility centres throughout Malaysia locating in Kepong, Puchong, Johor Bahru and Penang while its headquarters is located in TMC.
4.0 Analysis of Customer Relationship Marketing
4.1 Company’s Value Proposition
With the promise of delivering quality yet affordable health care solutions and of high standard service experience to their local, regional and international customers, TMC aim to provide different, better and worthy services that meet up to the expectation of their customers as a multi-disciplinary tertiary healthcare provider. TMC communicates clearly to their customers proving that the value of the services provided by the organisation is equivalent to the benefits while deducting the cost incurred. The constant strive in exceling the total satisfaction of their patients, TMC appoints medical personnel team that are trained, equipped with skills, dedicated and passionate.
4.2 Degree of Customer Centred Organisation
According to Businessweek (2005), businesses are moving towards experience economy that is affected by cons...
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...ful Entrepreneurship (Collection). 1st ed. [ebook] Upper Saddle River, NJ: Pearson Education. Available at: http://books.google.com.my/books?id=K3vHWZCp5KsC&pg=PT520&dq=gaps+in+marketplace&hl=en&sa=X&ei=kQ-gU6rsKMqLuASwiIHoCA&ved=0CCwQ6AEwAw#v=onepage&q=gaps%20in%20marketplace&f=false [Accessed 17 Jun. 2014]
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Kerin, Roger A., and Robert A. Peterson. Strategic marketing problems: cases and comments. 12th ed. Upper Saddle River, N.J.: Prentice Hall, 2010. Print.
The Medical Center of Plano has established itself as a leader in health care since its opening in 1975, nestled in Plano, Texas. Since its inception as a small community hospital, it prides its self of the delivery of quality health care as well as its concern for its patients. Over the years, it has grown to “a full-service facility, with 427-bed acute-care facility with more than 1,300 employees and over 1000 physicians on staff, representing over 70 specialties and subspecialties.” (The Medical Center of Plano, 2014, para. 2) The main campus “includes the main hospital and medical offices, also includes an outpatient surgery center, a comprehensive cancer-treatment center, an emergency and Level 2 trauma center, a radiology/imaging center, a comprehensive cardiovascular program, the Center of Lifestyle Enhancement, The Bariatric Institute, Wound Care Center and complete woman’s and children’s services including a high-risk antepartum unit and a Level 3 neonatal intensive care unit.” (The Medical Center of Plano, 2014, para. 2)This success can be accredited to their Mission Statement:
Kotler, Philip, and Kevin Lane Keller. Marketing Management 12e. Upper Saddle River: Pearson Prentice Hall, 2006.
Philip Kotler, Kevin Lane Keller. (2009) Marketing Management (13th Edition). Upper Saddle River, NJ : Pearson Education, Inc. pp.247-248
Patients make up a huge part in achieving service excellence for the healthcare industry. My healthcare facility helps the patients redeem themselves and correct with sensitivity. The patients are my customers, and my healthcare facility must remember our mission and vision of giving spectacular healthcare to our customers who are our priority. By giving quality customer service, my healthcare facility earns the gratitude and patronage of its patients. The patients pass their experiences to their families and that keeps my healthcare facilities’ reputation successful
Ferrell, O. C., & Hartline, M. (2011). Marketing strategy. (Fifth ed., pp. ????). Mason, OH: South-Western Cengage Learning. Retrieved from https://www.betheluniversityonline.net/mba/SectionFramework.aspx?SectionID=783
Hisrich, R.D. and Peters, M.P., (2004) Entrepreneurship, Fifth Edition – International Edition, McGraw-Hill Higher Education
In order to elaborate on the thesis topic, there is a need to introduce basic theo-retical concepts used in this work. The author concentrates on several main terms revealing a concrete meaning of each.
Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing (9th ed.). New York, NY: McGraw-Hill.
It is very cost effective compare to traditional form of marketing. It is more trustworthy form of marketing for customers/travellers as it can be recommended by their know people.
Fifield (2007) notes that whereas the department of sales in an organization is about ensuring the customers actually buys whatever the organization is making, the aim of the marketing department is to make whatever the customer wants to buy. Even though marketing is usually just perceived by a lay man to revolve around advertising of a commodity that a particular organization is making, the concept of marketing is actually a lot deeper. And given the complex and competitive world that is now being evolved, it is very important for the organizations to best cater to the needs of the customers and then again to attract as many customers towards them as possible. One significant solution to this then is to develop a strategic marketing plan.
Wilson, R.M.S. & Gilligan, C., 2005, Strategic Marketing Management: Planning, Implementation and Control, 3rd Edition, Butterworth-Heinemann.
The MT is committed to raising consumer awareness and providing patients with global choices for their healthcare needs. With millions of patients traveling internationally and regional for healthcare every year, creating a sustainable industry is more important than ever.
Collaborative customer relationship can be defined as a relationship-building strategies which is target on strong and lasting commitment, are especially appropriate for customers.
This development stage greatly depends on how customers have adopted the products and services being provided for by the firm. Entrepreneurs should consider meeting new customers’ demands by embracing new technology on the onset. Building the trust with the available customers in terms of meeting their demands and increasing the network of the firm by looking into new opportunities is core for business development. By testing out potential product and services development, the entrepreneurial venture can better gauge and plan for its future success. It also brings together the design, thinking and methodology, thus making it easier for the stakeholders to come up with a creative development during discussion process to meet the needs of the customers. This is perfectly exemplified by Apple’s evolution from a struggling company specialising in personal computers at its beginning, to become an integrated consumer electronics giant it is today. This is determined largely by the cash flow management of key business activities in order to build up the company to scale its operations and reach. At this stage, the enterprise is majorly managed by individual entrepreneur effort with a lot of risk in especially for the small enterprise with the risk involved slightly reduced for larger enterprise (Andries and Debackere, 2007). After the business has been launched at the start-up stage, it may develop into a reasonable size depending on the