Politics and Healthcare
Politics greatly influences the healthcare industry through provision of different materials and necessities to the healthcare systems. Changes in the political arena involving variations in leadership and management of the state governments or national governments often come with different strategies, which require immense flexibility in marketing management in the healthcare industry. A change in the governance of a nation comes with the formation, adoption and implementation of different policies governing the healthcare system. Most of these policies aim at assisting the citizens in accessing medical care and health insurance services at relatively affordable prices. In most cases, such initiatives affect the healthcare industry, which besides provision of medical attention to the people, has an obligation to cope with the situation and stay in business through flexible management and marketing policies. For instance, President Obama’s reform on healthcare that ensures the citizens including the poor buy health insurance through provision of subsidies has led to an increase in the number of insured individuals in the United States. Therefore, private and public insurance companies have a duty of altering their marketing strategies and policies to accommodate the increasing figures. Some political organizations and legal organizations like trade unions might advocate taxation policies that affect institutions responsible for the manufacture of pharmaceuticals and medical equipment. Therefore, such institutions have to widen their marketing scope in order to remain flexible in the market.
Market Potential
Healthcare industries, as well as other businesses, have a responsibility of determining their market potential in order to cope with changing situations in their environments. Market potential refers to the estimation of the total revenue sales and supplies of a certain product in the market during a specific time. It involves the identification of a target consumer profile and its geographical size, and competitors in the same market. It is very important for the industries in the healthcare sector to figure out their market potentials in order to develop strategies that will keep their marketing flexible. For instance, many countries have an ageing population that requires intense chronic attention. Furthermore, the health reform in the US and other countries all over the world create potential expansion for insurance coverage. These factors increase demand in the market, hence contributing positively to those companies. Competition among involved industries becomes stiffer than before, and this trend provides them with an opportunity to increase efficiency in their products and improve their services in the healthcare sector.
Healthcare Market Research
The healthcare market research is an important factor in maintaining flexibility in marketing management in the healthcare sector. It involves a series of data collection on every aspect relating to healthcare providence. It covers a wide scope of consumer profile with changes in politics and healthcare policies. Market research provides the researchers with adequate information to deal with every situation in governance. The information may include ways of improving marketing strategies, consumer perspectives on health issues, competitors’ innovations and the market potential. It also exposes the companies to new information that can help in dealing with previous marketing problems. Market research involves specific companies that research different trends in the healthcare sector, and provide solutions and recommendations to problems, which the healthcare industry faces, basing on intelligent and experienced research. Research is important because it gives a variety of plans on how to remain flexible in market management with changing political interactions.
Market Channels
Marketing channels involves a series of activities and practices that are necessary for the transfer and ownership of goods and services. It links producers to the buyers, provides sales promotion and advertising, influences pricing strategies by a firm, affects product strategies, customizes the profits and maintains a flexible marketing environment in the healthcare system. This channel involves the pharmaceutical companies, medical equipment manufacturers, medical professionals and patients. Political interference in this channel through policies and laws can slow the process down therefore; involved industries have to formulate strategies that ensure a constant cycle of the channel through adoption of flexible marketing options.
Marketing Strategic Alliances
Strategic Alliances involve agreements between companies that allows for mutual business relationship that seeks to improve service, provide opportunities and develop new markets and advantages over their competitors. Marketing strategic alliances in the healthcare spectrum could involve market research companies that provide solutions and recommendations on strategies that ensure a steady marketing management with changes in governance. Certain changes in government levels can influence such alliances.
Healthcare Global Market
The global market for healthcare involves a series of variant information on trends in the market all over the world. It enables healthcare industries to monitor as well as assess the prevalent market risks, realize opportunities, view emerging trends in the healthcare system, size competition through viewing of products from different companies and access growth rates and sales opportunities. The global market is an opportunity for the industries to evaluate their position in the system and improve where necessary.
Market Positioning
Market positioning involves influencing consumers’ perception of a company’s brand with the aim of occupying an advantageous position in their minds. The healthcare industry has to come up with effective market positioning strategies through research, production of effective pharmaceuticals and provision of high quality treatment and services.
Market Segmentation
It is a marketing strategy, which involves the division of a larger target market to subsets of customers with common priorities and needs. It covers geographical, demographic, psychographic and behavioral aspects in implementing the strategies on the target consumer. The healthcare industry can use this strategy through its pharmaceuticals and services to patients.
Healthcare Marketing Ethics
In marketing and advertisement of services and products, healthcare systems consider certain ethics in order to create a good impression to the public and maintain flexibility in marketing. For instance, they adopt marketing practices that prioritize the well-being of the patients rather than the intended profits. Another ethic is truth in advertisements, which involves conveying of accurate and honest information to the consumers. Ethics in marketing give confidence to their consumers and ensure a constant healthcare market.
Conclusion
The healthcare system is a vital industry in people’s lives. Politics plays a big role in the sector. Different levels of governments with different policies affect the marketing and the operation of the industry. However, the industry adopts marketing strategies that ensure flexibility in their marketing and management.
Recommendations
For the healthcare industry to remain flexible in marketing, it has to conduct several researches on the market potentials and consumer needs. The industry also has to widen and diversify strategic alliances in case the governments decide to end the alliances. Furthermore, effective marketing ethics should be followed to ensure ethical and flexible marketing.
References
Healthcare marketing advisor. (2006). Marblehead, MA: HCpro.
International journal of pharmaceutical and healthcare marketing. (2007).
