Strategic Marketing Proposal - HCM 325

Task:

Strategic Marketing Proposal Instructions Complete and submit your strategic marketing proposal. In addition to the sections covered in the two milestones, conclude your project by completing the Marketing Strategies and Conclusions sections as outlined in the Final Project Guidelines and Rubric document. Your work should be a complete and polished artifact and should incorporate all feedback received on the final project milestones. Review the critical elements carefully to ensure you have addressed each one completely. HCM 325 Final Project Guidelines and Rubric Overview The final project for this course is the creation of a strategic marketing proposal. Developing and implementing a healthcare marketing proposal requires deep alignment with organizational values, systematic inquiry, and applied, strategic thinking. By engaging the steps of the marketing process, you will gain skills and perspectives applicable to a range of healthcare management careers. In this project, you will apply what you have learned about healthcare marketing to a real-world organization of your choice. Specifically, you will identify a product or service for which you will develop a strategic marketing proposal. In your proposal, you must explain the importance of marketing principles as they uniquely apply to your chosen healthcare organization. Additionally, you will engage in the marketing process by establishing objectives, analyzing the market environment, and developing a promotions mix for effectively marketing your product or service. The project is divided into two milestones, which will be submitted at various points throughout the course to scaffold learning and ensure quality final submissions. These milestones will be submitted in Modules Three and Five. The final submission is due in Module Seven. In this assignment, you will demonstrate your mastery of the following course outcomes:

• Explain the importance of fundamental marketing principles and processes as they uniquely apply to healthcare organizations

• Determine relevant marketing objectives and target audiences that support the mission, vision, and values of healthcare organizations

• Analyze healthcare markets to identify sociocultural characteristics, customer needs, and economic factors that influence demand for health services

• Develop strategic marketing proposals by applying the marketing mix to support the mission and brand identity of healthcare organizations Prompt Your strategic marketing proposal should address the following critical elements:

A. Provide a detailed profile of your selected organization. What type of organization is it? What is its mission and vision, its service area and locations, and its major products and services?

B. Describe your marketing initiative in terms of the specific product or service you have selected. Why is it important to the organization? What are the current issues with the product or service? Why is a marketing initiative needed?

Milestones

C. Explain the relevance of knowing your customers’ needs for marketing your healthcare product or service. Illustrate your response with specific examples of your primary and secondary customers, as well as their needs, wants, and preferences.

D. Clarify the importance of the “four P’s” of marketing as they apply to your healthcare product or service. Illustrate your response with specific examples of how each is or is not relevant.

E. Characterize the relevance of drivers of demand for marketing your healthcare product or service. Illustrate your response with specific examples of factors that drive demand for your product or service. II. Establish the Context A. Determine the marketing goals of your initiative. You should develop at least three specific objectives that apply best practices and align to the organizational mission and vision. B. Analyze the industry segment for your healthcare product or service. Include all relevant details related to population segment and demographics, market size, psychographic or health status segmentation, regulatory influences, payer mix, and key success factors. C. Identify and describe your target markets. Be sure to include all relevant details related to their demographics, characteristics, preferences, and consumer behaviors. In any area where you are lacking critical information, explain the type of data that you would collect to fully understand your target markets. III. Market Analysis A. Conduct a SWOT analysis for your selected healthcare product or service. Be sure to thoroughly analyze the strengths, weaknesses, opportunities, and threats by including at least three items in each category. B. Assess your organization’s competitors using specific supporting examples. You should address at least two competitors, and discuss at least three strengths and weaknesses for each. C. Based on your SWOT and competitor assessment, draw informed conclusions about your organization’s current market position and justify your claims with specific supporting examples. IV. Marketing Strategies A. Develop a promotions strategy that effectively applies the media mix. Which traditional marketing techniques (e.g., public relations, advertising, sales and sales promotion, direct marketing) do you recommend and why? Defend each of your proposals using specific evidence and principles discussed in the course. B. Analyze the resource requirements. What are the types of resources you would need for your proposed strategies? What are the categories of direct and indirect expenses to consider? C. Propose specific metrics for evaluating the success of your marketing proposals. How would you measure success? What sources of data would you monitor and how would that data be interpreted? V. Conclusions: In closing, defend your overall strategy proposal by illustrating the specific ways in which your recommendations would support the mission, vision, and values of your healthcare organization. Milestones Milestone One: Draft of Introduction In Module Three, you will submit a draft of your introduction. Your introduction will include a profile of the organization, a description of the specific product or service including the marketing opportunity, the needs of the target market, the promotions mix, and an explanation of the drivers of demand. Use the feedback you received on the Module One journal and the Module Two short paper to assist you in developing your introduction. This milestone is graded with the Milestone One Rubric. Milestone Two: Draft of Context and Market Analysis In Module Five, you will submit a draft of your context and market analysis. Establish the context for your healthcare product or service, and analyze the market. To establish the context, you will describe the industry segment, describe your target markets, and specify the marketing goals and objectives. In analyzing the market, you will conduct a SWOT analysis, assess the competitors in the market, and determine the current market position. This milestone is graded with the Milestone Two Rubric. Final Submission: Strategic Marketing Proposal In Module Seven, you will submit your strategic marketing proposal. It should be a complete, polished artifact containing all of the critical elements of the final product. It should reflect the incorporation of feedback gained throughout the course. This final submission will be graded using the Final Project Rubric. Final Project Rubric Guidelines for Submission: Your proposal should be 3-4 pages using 12-point Times New Roman font and double-spacing. Any citations should be in APA format. Critical Elements Exemplary (100%) Proficient (85%) Needs Improvement (55%) Not Evident (0%) Value Introduction: Profile of Organization Meets “Proficient” criteria and balances necessary detail with clear, economical language Provides a detailed profile of the organization, including its type; mission, vision, and values; its service area and locations; and its major products and services Provides a profile of the organization, but fails to fully or accurately define its type; mission, vision, and values; its service area and locations; or its major products and services Does not provide a profile of the organization 2 Introduction: Marketing Initiative Meets “Proficient” criteria and balances necessary detail with clear, economical language Describes the marketing initiative, including the product or service; why it is important to the organization; its current issues; and why the initiative is needed Describes the marketing initiative, but fails to fully or accurately define the product or service; why it is important to the organization; its current issues; or why the initiative is needed Does not describe the marketing initiative 2 Introduction: Customer Needs Meets “Proficient” criteria and demonstrates nuanced appreciation of the importance of marketing principles and processes within healthcare organizations Explains the relevance of knowing customer needs for the marketing initiative and illustrates with specific examples of primary and secondary customers, as well as their needs, wants, and preferences Explains the relevance of knowing customer needs for the marketing initiative, but fails to fully or accurately illustrate with specific examples of primary and secondary customers or their needs, wants, and preferences Does not explain the relevance of knowing customer needs for the marketing initiative 7.5 Introduction: “Four P’s” Meets “Proficient” criteria and demonstrates nuanced appreciation of the importance of marketing principles and processes within healthcare organizations Clarifies the importance of the “four P’s” of marketing as they apply to the healthcare product or service and illustrates each with specific examples Clarifies the importance of the “four P’s” of marketing as they apply to the healthcare product or service, but fails to fully or accurately illustrate each with specific examples Does not clarify the importance of the “four P’s” of marketing as they apply to the healthcare product or service 7.5 Introduction: Drivers of Demand Meets “Proficient” criteria and demonstrates nuanced appreciation of the importance of marketing principles and processes within healthcare organizations Characterizes the relevance of drivers of demand for the marketing initiative, and illustrates with specific examples of factors that drive demand for the product or service Characterizes the relevance of drivers of demand for the marketing initiative, but fails to fully or accurately illustrate with specific examples of factors that drive demand for the product or service Does not characterize the relevance of drivers of demand for the marketing initiative 7.5 Establish the Context: Marketing Goals Meets “Proficient” criteria and demonstrates sophisticated ability to determine relevant marketing objectives Specifies at least three marketing goals of the initiative that apply best practices and align to the organizational mission and vision Specifies marketing goals of the initiative, but fails to identify at least three that apply best practices and align to the organizational mission and vision Does not specify marketing goals of the initiative 7.5 Establish the Context: Industry Segment Meets “Proficient” criteria and demonstrates keen insight into the nature of healthcare markets Analyzes the industry segment for the healthcare product or service, including all relevant details related to population segment and demographics, market size, psychographic or health status segmentation, regulatory influences, payer mix, and key success factors Analyzes the industry segment, but fails to accurately include all relevant details related to population segment and demographics, market size, psychographic or health status segmentation, regulatory influences, payer mix, and key success factors Does not analyze the industry segment for the healthcare product or service 6 Establish the Context: Target Markets Meets “Proficient” criteria and demonstrates sophisticated ability to determine relevant target audiences Identifies and describes the target markets, including all relevant details related to demographics, characteristics, preferences, and consumer behaviors; where appropriate, explains the types of data that would be collected Identifies and describes the target markets, but fails to accurately include all relevant details related to demographics, characteristics, preferences, and consumer behaviors; or does not explain the types of data that would be collected, where appropriate Does not identify and describe the target markets 7.5 Market Analysis: SWOT Analysis Meets “Proficient” criteria and demonstrates keen insight into the nature of healthcare markets Conducts a SWOT analysis including at least three items in each category Conducts a SWOT analysis, but fails to fully or accurately include at least three items in each category Does not conduct a SWOT analysis 6 Market Analysis: Competitor Assessment Meets “Proficient” criteria and demonstrates keen insight into the nature of healthcare markets Identifies and assesses at least two competitors using specific supporting examples, including at least three strengths and weaknesses for each Identifies competitors, but fails to assess at least two using specific supporting examples, including at least three strengths and weaknesses for each Does not identify competitors 6 Market Analysis: Market Position Meets “Proficient” criteria and demonstrates keen insight into the nature of healthcare markets Draws informed conclusions about the organization’s current market position and justifies all claims with specific supporting examples Draws conclusions about the organization’s current market position, but not all are appropriate or justified with specific supporting examples Does not draw conclusions about the organization’s current market position 6 Marketing Strategies: Promotions Strategy Meets “Proficient” criteria and demonstrates creative or sophisticated ability to develop strategic marketing proposals Develops a promotions strategy that effectively applies the media mix, including traditional marketing, and defends each using specific evidence and principles discussed in the course Develops a promotions strategy, but fails to effectively apply the media mix or defend each proposal using specific evidence and principles discussed in the course Does not develop a promotions strategy 7.5 Marketing Strategies: Resource Requirements Meets “Proficient” criteria and demonstrates creative or sophisticated ability to develop strategic marketing proposals Analyzes the resource requirements, including the types of resources and the categories of direct and indirect expenses to be considered Analyzes the resource requirements, but fails to fully or accurately include all the types of resources or the categories of direct and indirect expenses to be considered Does not analyze the resource requirements 7.5 Marketing Strategies: Evaluation Metrics Meets “Proficient” criteria and demonstrates creative or sophisticated ability to develop strategic marketing proposals Proposes specific metrics for evaluating the success of the marketing proposals, including appropriate sources of data and how the data would be interpreted Proposes metrics for evaluating the success of the marketing proposals, but not all are specific or reasonable or fails to identify appropriate sources of data or logical methods of interpretation Does not propose metrics for evaluating the success of the marketing proposals 7.5 Conclusions Meets “Proficient” criteria and demonstrates advanced skill in connecting marketing strategies to the mission, vision, and values of healthcare organizations Defends the overall strategy proposal by illustrating the specific ways in which the recommendations support the mission, vision, and values of the healthcare organization Defends the overall strategy proposal, but fails to fully or logically illustrate the specific ways in which the recommendations support the mission, vision, and values of the healthcare organization Does not defend the overall strategy proposal 7.5 Articulation of Response Submission is free of errors related to citations, grammar, spelling, syntax, and organization and is presented in a professional and easy-to-read format Submission has no major errors related to citations, grammar, spelling, syntax, or organization Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas 4.5