Marketing Strategy

1. SWOT Analysis-Strengths, Weaknesses, Opportunities and Threats. What are the firm’s internal strengths and weaknesses and the external environment’s opportunities and threats?

2. Current Marketing Strategy- What is the firm’s current product, price, place and promotion strategies? the

Requirements: half of page each

Answer preview

The current marketing strategy for Farfetch Limited is developing unique product designs that stand out in the competitors’ market. Its pricing strategy is based on credit terms, payment periods, and discounts, which has enabled many people to purchase goods from the company. Also, their prices are lower than their competitors, which increases their customers and profits (Jaworski, 2018). The company has many stalls almost in every state, making it accessible to customers worldwide. That has increased their market share as customers can access products at any time at a low price. Additionally, the company has been using television, radio, and print advertising methods to promote its products, including tradeshows and direct mail campaigns.

[526 Words]

Marketing Strategy

Health care industry

Read the case study, Stopping Outshopping [PDF] (also found in Chapter 32 of your textbook). Then, use the Internet or Strayer library to research similar marketing strategies in the health care industry.

Assignment Instructions

Your task is to create an offensive marketing plan for Scarlet Hospital. The competition has already created a marketing plan that advertises in your area, so your marketing plan should reflect that.

Chapter 39 in Health Care Marketing outlines Philip Kotler’s Marketing Plan. Read through this to understand what you will need to include in your plan.

You may want to watch some of the videos found in the LinkedIn Learning course, Writing a Marketing Plan, to get specifics on the different parts of a plan.

You may also want to review the article 8 Important Steps to Successfully Implement Your Marketing Plan.

Your plan should be 4–6 pages and include the following eight sections:

  1. An Executive Summary and Table of Contents that summarizes the key points of the marketing plan including any recommendations and strategies and has an itemized table of contents for the plan that make each of the sections easy to find.
  2. An explanation of the Current Marketing Situation that determines whether Scarlet Hospital is ready to fully compete aggressively based on market research, and existing marketing plan.
  3. An Opportunity and Issue Analysis that assesses the existing marketing plan, while making recommendations on the direction Scarlet Hospital should follow. It should also include a review of the Scarlet hospital strategy for assessing the potential for a change or enhancement to generate revenue.
  4. Objectives for an offensive marketing plan using techniques like market penetration, market development and product development.
  5. A Market Strategy that proposes a one-page offensive strategy (such as communication, branding, or innovation) that Scarlet Hospital should deploy in order to turn the table on opposing health care providers and improve its competitive marketing position.
  6. An outline of Action Programs that can be put in place by Scarlet Hospital to protect its market share and thus decrease the chance of losing patients to other institutions. Action programs should also reflect an awareness of the current events that contribute to the risk of losing patients to other institutions.
  7. Financial Projections that allow Scarlet Hospital to determine if any financial reinforcement is needed for the offensive marketing strategy.
  8. Implementation Controls that include a review of the marketing team’s plan, communication and project timeline to ensure those pieces contribute to the success of the marketing strategy being implemented.

Use 3 sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source slide at least one time within your assignment. For help with research, writing, and citation, access the library or review library guides. These sources can be the last page of the plan.

This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.

The specific course learning outcome associated with this assignment:

  • Propose an offensive marketing strategy for a health care organization to meet a competitive challenge.

Requirements: 4-6 pages

Answer preview

Scarlet Hospital had foreseen the threat of competition from the construction of the interstate highway a year before it was launched. There are different contextual factors that favor Scarlet capacity to compete effectively within the market. According to Acharya and Paudel (2019), a healthcare facility is ready to compete based on its healthcare quality. Scarlet has been in operation in Walnut Grove for over 14 years. During his period as president and CEO of the hospital, Timothy Rogers has maintained aggressive efforts to improve the quality of care. However, the hospital was not prepared for this form of competition. Hence the current marketing situation is defensive and includes increased advertising efforts to overcome the new threats. Scarlet Hospital has launched radio advertisements, included more billboards, and leveraged all the marketing communications. However, the provision of quality healthcare services maintains a positive status in the success of the marketing efforts.

[1374 Words]

Health care industry