Deeper Dive into Marketing Objective and Target
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Description
Experience Level: Entry
Need help diving deeper into my original thoughts. Would like help with a more thorough response for the 2 items below.
Original Request:
Objectives and Issues:
The marketing objectives and goals are clearly related to the company/organization mission. Objectives and goals are clearly stated and appropriately quantified. Outlines the specific marketing objectives to be achieved and identifies issues that may affect the organizations attainment of objectives.
Target Market:
Based on the marketing strategy and SWOT analysis, the target market(s) is appropriately identified and described. A positioning statement for each target market is identified and explained, and reasonable. Information about customers is thoroughly and clearly reported. Any information that is considered to be important to know, but that has not been obtained with reasonable effort is identified. Explains the segmentation, targeting, and positioning decisions and analyses the market and segments to be targeted through market strategy.
My Initial Response:
Potential Customers
2015 was the busiest year for merger and acquisitions. During the 12 month, U.S. companies announced more than $2.1 trillion in transactions. Global volume topped $4.7 trillion in aggregate. (US Deloitte Merger and Acquisitions Report Trends 2016).
Globally, US Merger & Acquisition firms see five markets as their potential customers. Deal makers see a huge amount of deals in these five countries. Canada, Mexico, China, Germany and United Kingdom makes to the top five. (US Deloitte Merger and Acquisitions Report Trends 2016).
According to the survey Conducted by Deloitte US, questions were raised from the corporate executives about Merger and Acquisitions. The three top reasons for the merger were expanding customer base in existing geographic markets, enter new geographic markets and to pursue cost synergies or scale efficiencies. According to Deloitte Merger & Acquisitions trend report, Healthcare industry will account for approximately 16% of the total deals in the US during 2016, while Technology has the most share of 26% and followed by oil & gas of 22%. (US Deloitte Merger and Acquisitions Report Trends 2016).
Healthcare institutions involved in mergers will be the main target for the firm.
Following are the recommended ways through which the firm can introduce itself and grow in the market
Alliance/ Strategic Partnerships
Collected Healthcare Consulting Company should seek firms who are actively involved in merger or acquisition in healthcare industry. Both firms will help each other during mergers, one firm engaging in the merger and the other, Collected Healthcare Consulting Company in the integration of the two companies. Both firms will benefit.
The consulting firm will have easier access to the target market; otherwise it may be difficult due to competition. It will also involve competitive advantage as both the firms have different experiences ultimately working towards the betterment of the merged firm.
The firms will share the cost and benefits equally or as agreed to according to the contract, synergistic benefits of shared knowledge and expertise.
Personal Relations
As the owner and the key person of the organization, havingextensive experience in the healthcare industry will be used for personal relations to actively market the firm. Building relations important for potential partners utilizing services in the future. The owner should send a message either by email or by post, so that audiences have know-how of the business. In order to be successful in public relations, the manager should be familiar with all the reporters either in electronic or print media and history for what was written in the past about healthcare businesses.
Healthcare Seminars/Exhibitions
In order to promote your company, you and your employees need to be visible. Research local trade organizations your city, many organizations have meet-ups every month. Check out the Healthcare associations and get involved in our community. The consultancy firm should participate in different conference and exhibitions, meeting with different industry people and showcase its firm services to the potential customers.
Marketing Budget
The primary marketing tool of the firm will be networking among hospital co-workers which have worked with the owner of the firm.
Attending Healthcare Seminars/Exhibitions will cost around $3000 per seminar, the networking will cost nothing to the firm and the cost of alliance or the strategic partnership will depend on the contract and will be approved by the management prior to the period.
Original Request:
Objectives and Issues:
The marketing objectives and goals are clearly related to the company/organization mission. Objectives and goals are clearly stated and appropriately quantified. Outlines the specific marketing objectives to be achieved and identifies issues that may affect the organizations attainment of objectives.
Target Market:
Based on the marketing strategy and SWOT analysis, the target market(s) is appropriately identified and described. A positioning statement for each target market is identified and explained, and reasonable. Information about customers is thoroughly and clearly reported. Any information that is considered to be important to know, but that has not been obtained with reasonable effort is identified. Explains the segmentation, targeting, and positioning decisions and analyses the market and segments to be targeted through market strategy.
My Initial Response:
Potential Customers
2015 was the busiest year for merger and acquisitions. During the 12 month, U.S. companies announced more than $2.1 trillion in transactions. Global volume topped $4.7 trillion in aggregate. (US Deloitte Merger and Acquisitions Report Trends 2016).
Globally, US Merger & Acquisition firms see five markets as their potential customers. Deal makers see a huge amount of deals in these five countries. Canada, Mexico, China, Germany and United Kingdom makes to the top five. (US Deloitte Merger and Acquisitions Report Trends 2016).
According to the survey Conducted by Deloitte US, questions were raised from the corporate executives about Merger and Acquisitions. The three top reasons for the merger were expanding customer base in existing geographic markets, enter new geographic markets and to pursue cost synergies or scale efficiencies. According to Deloitte Merger & Acquisitions trend report, Healthcare industry will account for approximately 16% of the total deals in the US during 2016, while Technology has the most share of 26% and followed by oil & gas of 22%. (US Deloitte Merger and Acquisitions Report Trends 2016).
Healthcare institutions involved in mergers will be the main target for the firm.
Following are the recommended ways through which the firm can introduce itself and grow in the market
Alliance/ Strategic Partnerships
Collected Healthcare Consulting Company should seek firms who are actively involved in merger or acquisition in healthcare industry. Both firms will help each other during mergers, one firm engaging in the merger and the other, Collected Healthcare Consulting Company in the integration of the two companies. Both firms will benefit.
The consulting firm will have easier access to the target market; otherwise it may be difficult due to competition. It will also involve competitive advantage as both the firms have different experiences ultimately working towards the betterment of the merged firm.
The firms will share the cost and benefits equally or as agreed to according to the contract, synergistic benefits of shared knowledge and expertise.
Personal Relations
As the owner and the key person of the organization, havingextensive experience in the healthcare industry will be used for personal relations to actively market the firm. Building relations important for potential partners utilizing services in the future. The owner should send a message either by email or by post, so that audiences have know-how of the business. In order to be successful in public relations, the manager should be familiar with all the reporters either in electronic or print media and history for what was written in the past about healthcare businesses.
Healthcare Seminars/Exhibitions
In order to promote your company, you and your employees need to be visible. Research local trade organizations your city, many organizations have meet-ups every month. Check out the Healthcare associations and get involved in our community. The consultancy firm should participate in different conference and exhibitions, meeting with different industry people and showcase its firm services to the potential customers.
Marketing Budget
The primary marketing tool of the firm will be networking among hospital co-workers which have worked with the owner of the firm.
Attending Healthcare Seminars/Exhibitions will cost around $3000 per seminar, the networking will cost nothing to the firm and the cost of alliance or the strategic partnership will depend on the contract and will be approved by the management prior to the period.
Shobna G.
100% (9)Projects Completed
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