There is more to marketing than just placing billboards or ads about health plans. It involves offering and exchanging products and services, as well as meeting consumers’ needs in the market. There are various markets and different market strategies done by companies, and a thorough marketing strategy analysis can evaluate market share and competitive advantages.
A key to marketing strategy is the ability for a company to identify its niche or domain, and to provide in this market. This is shown through different cases of some organizations from the healthcare industry and the approach they did toward these marketing strategies, and the manner in which they adapt and meet consumer needs.
Marketing strategies for some healthcare organizations
The YMCA, which is a public health organization, makes use of a diversification strategy. It previously provided mental health products, nutrition and exercise to its target market. Now, the organization has been working with veterinarians to offer animal medications and vaccines for pet owners as a new market.
Humana In. makes use of a market development strategy. It had products in the disease management market because of its many Medicare advantage members. The insurance company is now changing its insurance marketing strategy. It is increasing its product line, on the basis of the online games’ popularity, in the similar market.
One new product is the Humana Vitality, a health status assessment completed by patients which calculates the Vitality Age and steps needed for a better health. Patients could receive prizes when they are able to do steps on the basis of their Vitality Age and when they use preventive services. In addition, they could also receive monthly prizes when they complete the self-assessment forms.
Humana partnered with Ubisoft to develop a video game “Your Shape: Fitness Evolved 2012,” which encourages exercise and wellness.
Humana Fit, another new product, is a personalized exercise and nutrition system that helps members remain on track. The Vitality members could use the product and earn more prizes and points.
Lastly, Kaiser Permanente makes use of a product development strategy. Kaiser Permanente provided flu vaccines from specific primary care market. Now, it expanded its flu vaccine distribution through specialty care physicians too.