Assignment %= *roduct evelopmentHealth services continue to a1ect the gross domestic product, and this dramatic transformation has great demands on each dollar spent to deliver patient¢ered products. Health care mar!eting must "e repeatedly applied and practiced strategically to include environmental dimensions, such as technology, socioeconomics, competition, and regulatory. :hat "eing said, in todays glo"al economy, investors and potential entrepreneurs must tap into the so&called ;uneplored> mar!et. 4n this aspect, health care esta"lishments must utili/e mar!eting, advertising, as ell as sales strategies hen pursuing ne customers (e.g., suppose a health care investor anted to "uild a small hospital in a rural community)? this ould entail eploration and logistical eperimentation to determine ho ill patroni/e the facility. 4n an impoverished neigh"orhood, the feasi"ility of having lucrative pro2ts may see diminishing returns,and so the venture may "e not orth the e1ort. Also, suppose that the potential investor ants to sell mos@uito deterrents (e.g., "edside netting in malaria&infested regions of Asia or Africa)? then it ould "e ise to investigate the num"er of "eds that are actually in the village, and ho ould "e illing to purchase them. :hese activities ta!e into account the investor portfolio, as ell as the feasi"ility of mar!eting and selling the product. Such eploration also eamines competitors, cultural di1erences, andmost importantidenti2cation of the customer.4dentify a local health care esta"lishment (e.g., hospital, reha"ilitation center, emergency medical center) and determine its product development practices. Utili/e concepts from previous ee!s to su"stantiate information, as needed. Bou may develop the discussion "ased on the ideas presented here, "ut feel free to in#ect any salient mar!eting strategy that you "elieve might support your presentation.Write a three to four (<&) page paper in hich you=%.3ustify the purpose of the selected health care esta"lishments product(s) D service (s) and their associated life cycle(s).$.Suggest one (%) strategy to improve the mar!eting mi of the selected healthcare esta"lishment. Support your strategy "y highlighting one (%) "ene2t of (%) portfolio analysis and providing to ($) eamples that display di1erential advantages.
MISSED OPPORTUNITIES 2 Case study: Missed opportunities Crestview Hospital is situated in Oakland, in the east south central region of United States. It is a for-profit institution which competes with Briarwood medical center, a non-profit institution, both offering general medical and surgical services. Crestview made a marketing decision and placed a new billboard directly adjacent to Briarwood Medical centre. This action has various pros and cons to the Crestview Hospital in respect to the customers and other community stakeholders. In respect to the placement of the billboard, Crestview Hospital should see an increase in consumers utilizing their services because the billboard is placed in a position that makes it seem as though Briarwood was promoting Crestview. The billboards also made more of an impact with the tagline of “The Best Medical Care in Oakland”. This informs potential consumers about the high quality services provided by the Crestview Hospital and shows that Crestview has leadership that is not afraid to employ an aggressive strategy. Fortenberry (2010) states that clients who are not local or familiar with the area will know how to find Crestview hospital because they can use the directions on the billboard. Even though the physical location of Briarwood is right there in that immediate area, Briarwood has no billboard to market themselves and direct non-residents to the most commonly used areas, such as the Emergency room. They are solely relying on locals knowledge of their services and locations. On the other hand, use of billboards for advertisement is very costly to Crestview Hospital and this could have an impact on the quality of services they can provide to their clients. Though the census would likely increase in the weeks following the placing of the billboard, there is also a chance that future consumers would not return to Crestview Hospital for their services, particularly if they are local to Briarwood and in need of emergency care. Consumers