Essay about Market Analysis And Strategy Implementation

Essay about Market Analysis And Strategy Implementation

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Market analysis can be considered as the most critical section of a strategic plan or business plan. It seems to be determining the survival and success of virtually every organization since no business entity operates in isolation. This crucial role of market analysis does not exclude the health care organizations. In the health industry, the market analysis allows health care organizations to determine specific health care consumers and their needs and what the organizations ' marketing mix should consist of. If a market analysis is properly done, it would guide organizations in tailoring their services and products to consumers who are most likely to patronize them (Tuma, Decker, & Scholz, 2011). It seems technology, demography, regulations, consumer forces, and the caliber of health professionals are constantly shaping the rules of healthcare competition. Therefore, it is imperative to consider these factors when performing market analysis. Besides, if strategic leaders in the health industry are to be successful with market analysis and strategy implementation, then they would need to follow specific direction or map in their strategic management process (Ginter, Duncan, & Swayne 2013). Ginter et al (2013. p.12), stated further that ' 'without a map, managers run the risk of becoming totally incoherent, confused in perception, and muddled in practice". This paper will focus on market analysis for Pocahontas Memorial Hospital 's satellite health clinic in Pocahontas County, and based on a strategic planning map.
Problem Statement
Currently, Pocahontas county has only one hospital (Pocahontas Memorial Hospital) and one nursing home. These facilities under serve Pocahontas ' population with physician-to-population ratio highe...


... middle of paper ...


...rehensive satellite clinic.
Physicians-Once ACA has expanded insurance coverage, PMH needs to develop employment strategy to attract and retain qualified and competent physicians. This will improve the quality of care and create confidence among consumers. In addition, investing in technology such as tele-health will enable physicians to network with other providers in order to make their work less stressful.
Summary
Even though PMH is the only hospital in Pocahontas County, it is confronted with several challenges as it strives to serve the residents. In anticipation of more challenges, PMH is embarking on market analysis as part of a feasibility study to establish a comprehensive satellite clinic in Pocahontas County. This market analysis has the object of providing information on the industry trends, consumers, and competitors for an informed decision-making.

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