MRKT360 Health Service Marketing | Get Assignment Solution
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1.Analyze the SWOT and FIVE Factors Analyses and determine which would be more valuable from a marketing perspective. Provide specific examples of how you could use the results of either analysis to support informed marketing efforts.
2. Recall a situation in which you sought health care of some type (not including care for an injury or illness). Determine if your situation followed the five steps of the buying decision model and what role marketing may have played in your seeking care. How does the personal decision differ from the organization buying decision process? Provide specific examples and rationale to support your response.
1.SWOT Analysis is a model used to analyze the threats, opportunities, weaknesses and threats for the creation of a marketing strategy foundation (vanWijngaarden, Scholten & vanWijk, 2012). I would use SWOT to take into account what the company is able and unable to do as well as understand unfavorable and favorable conditions related to the organization’s services or products. Porter’s five forces is a model used in the analysis of businesses that assists in explaining why various industries have the ability to sustain different sustainability levels. The forces include bargaining power of buyers, bargaining power of suppliers, industry rivalry, the threat of new entrants and threat of substitute products. From a marketing perspective, Porter’s five forces will be more valuable. For example, it measures the profitability, attractiveness and competition intensity which can support informed marketing efforts.
2.My situation was when I was far-sighted and wore glasses for some time. I felt uncomfortable wearing glasses and I opted to have LASIK surgery. My situation followed the five steps of the buying decision model which include problem recognition, information search, alternative evaluation, purchase and post-purchase. Firstly, I recognized I had a problem. I undertook information search from people who had the same type of surgery before and had consultation appointments. After my research, I evaluated an alternative of whether I should do surgery or remain far sided. I decided to have surgery. Finally, I am not restricted in wearing glasses on some occasion. Marketing played a role of creating an awareness about the existence of the LASIK surgery. Organization buying decision differed from my personal buying decision in that I was the one to make a decision of whether I purchase the product or not, while the organization planned and purchased the glasses from suppliers. For example, I had to make a decision whether I purchase glasses or not while the organization had to make the decision earlier by coming up with the need for purchasing the product.
van Wijngaarden, J. D., Scholten, G. R., & van Wijk, K. P. (2012). Strategic analysis for health care organizations: the suitability of the SWOT?analysis. The International journal of health planning and management, 27(1), 34-49.
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