For this you will examine information and data from the SWOT analysis you conducted in Week Two and learn how that information and data can be applied to the Environmental Analysis section of your marketing plan for the Final Project. To prepare for this discussion, read Chapter 5 of the course text. It is also recommended that you review Chapter 4, which was read last week.
The creation of a successful strategic plan is derived from researched data; in particular, applicable data can be obtained from a SWOT analysis. Review section 5.4 of the course text, which presents examples of environmental analysis, both internal and external, for a hypothetical nursing facility. Examine the strategic plan of the HCO you have chosen for your Final Project and the results from the SWOT analysis that you performed in Week Two. Then, in your initial post, address the following questions:
- What external and internal environmental analysis data could be applied to the marketing plan you are developing for your Final Project?
- How will the environmental analysis support the marketing plan to fulfill the organizations strategic objectives?
For this part, you will examine market research strategies and how the information gleaned can be applied to the Marketing Mix section of your Final Project. Services offered by healthcare organizations are becoming increasingly diversified regarding services offered. With this said, health care organizations rely on market research to determine their best course of action regarding time and financial investment.
After reading Chapter 6 and watching the Alanis Business Academy’s YouTube video, describe the information that can be derived from each of the four quadrants in the Boston Consulting Group matrix. Additionally, describe the validity and applicability of implanting the Boston Consulting Group matrix for your chosen healthcare organization’s marketing plan. Based on the information that can be gleaned (market growth rate by the relative market share) regarding the healthcare organization you have chosen for your Final Project, how could the information be applied to improve marketing decision-making processes?
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