Marketing Objectives and Product Positioning

Date:  2021-03-13 04:09:13
7 pages  (1795 words)
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This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.

Marketing Objectives

After identification of marketing target, the next step in positioning the organization to adopt in the market is defining marketing objectives. Deciding the marketing objectives of an organization is the most active part of a marketing planning process. Marketing objectives typically are the intention of a company to be met in a given time in future. They are associated with the type of product or service and place where they can be obtained. Essentially, they are the match between products and market. First of all, the mission of the organization needs to be known or the purpose of the business. Transparent operations of the firm ought to be defined such as the type of a product, group of customers and the need of the market (Cadogan, 2009).

The organization's purpose is rendered into marketing objectives. Essentially, the marketing objectives should be based on strengths and weaknesses of the organization. They are also connected with overall business strategy. The objectives must be SMART in that they are specific, measurable, achievable, realistic and time-bound. The measurement can be based on the volume of sales, profits made, the extends in the market share, the extent of market penetration as far as distribution is concerned. Quantification assists in setting limits, avoiding equivalent monitoring and setting corrective actions. A particular objective has a precise target. For example, Priory Hospital may have an objective of increasing the number of clients by 20% at the end of 6 months. The objective will only be achievable if the resources needed to accomplish it are available. Again the goal should be realistic in that the targets sets are reasonable and finally the objective has a deadline for achieving it. In the previous example, the target was 6 months (Cadogan, 2009).

Usually, marketing objectives are sales, profitability, the growth of sales, diversification and improvement of market share. Market planning activities involve objective setting, evaluation opportunities, and the creation of marketing strategies, preparing marketing plans, and developing a marketing program. The plan Implementing requires that all be made into practice. Aftermarket implementation, the market plan needs to be controlled by result measurement, progress evaluation, and adjustment of the marketing mix where necessary (Magin, 2006)

Developing Product Positioning

In positioning and differentiation, some will have a high level of enthusiasm; others will be unresponsive. The largest grouping with a favorable opinion is then selected as the object market; the marketing meaning is tailored to appeal most specifically to this group and will be shown most frequently in media. Positioning extends to even several subgroups. Positioning becomes a very complicated process in that attempts are made to coordinate all aspects of the semiology, to echo the very words people used in focus groups, and to select those images, packages, and lifestyle linkages identified earlier. Occasionally it happens, contrary to the opinion articulated by Ries and Trout, that the product itself may be significantly modified especially if most consumer groups polled found fault with some aspects (Films on Demand, 2011).

Most likely the biggest difference between a bulk entrepreneur and sole proprietors is that small jobs practice product positioning but without the actual expensive machinery of sumptuous and formal segmentation, marketplace research, and testing funded for by the big companies. To be sure, some sole proprietors (those of the larger kind and able to spend such money) do conduct studies quite similar to the majors. Most sole proprietors, the positioning of products is based on the opinions of the business owner, his or her family, and selected friends and customers; they are the "sample." To some sole extent proprietors also bears what might be called "experiential" studies once produces are launched to the market. Normally data from consumers of products and services is collected, and the feedback is received from the market. Later, depending on the response the organization may decide to improve on its ways in which they advertise, where their advertisement takes place, they are concerned of how products are labeled and the products are displayed while in store. Not forgetting on the product and service packaging. If the product is primarily at least reasonably successful to the market, this type adaptation based on experience is much more efficient because it reflects consumer behavior rather than consumer point of view.

Organizational positioning is for a purpose of establishing an identification of products and services identity presentable to clients. Marketing strategy; positioning depends on the competitors' actions together with variables that motivate clients. Therefore, a comprehensive market research has to be done so as to analyze the potentials in the market. Addition, it is important to seek what the competitors pose the highest threat to the survival of another organization producing the same services and products. The action assists management in creating and developing a strategic marketing plan which will ensure the organization succeeds. The success of an organization is majorly dependent on how the organization positions its products and services. Priory Hospital Potters Bar utilizes service positioning strategies in differentiating its services. For the hospital to successfully position its products in the market, product development should be taken to the market. Market researcher defines the potential market, innovation, and development of the business plan. The research and analysis enable the hospital in identifying and segmenting market, characterizing products required to address the market needs. Again it helps in understanding advantage and disadvantage of other market players. Through this, they get to understand their competitive edge. More on that the hospital gets to know their project sales revenue and profits as well determining appropriate pricing (Films on Demand, 2011).

Product Positioning is a marketing technique ideally used with an intention of presenting products in the satisfying way possible. The positioning of the product is related to the market segmentation. After defining segments of a market, the products have to be positioned through symbol and message manipulation, including displays and packaging. The positioning of a product or a service doesn't mean changing the product or service at all but changing the name, the price, and the package. Again, product positioning is termed as clients' insights on a product's dimension and its advantages and disadvantages in elation with competing brands. The hospital marketers have been conducting marketing research to analyze clients preferences and to plan on the product and service positioning about competitors' offerings.

At a gross, concepts of segmentation and positioning normally arise in the large rather than in the small business context. The segmentation and positioning concepts are applied in both businesses that are a small and mass business. Mass business requires more preparations unlike small. The preparations can be very costly. They involve packaging design, promotion and advertisement campaigns and supply channel incentives (Films on Demand, 2011).

Segmenting the hospitals it has been easy. First, the part has been based on the purpose of the hospital in the community. Second, segmentation has been based on legal entity. Third, a part has been made on bases of size, counting the number of sites, beds, and patients discharged. Some product lines have been established through segmentation. For instance, the marketing of food for babies can be done by targeting the young mothers; wheelchairs can be advertised on TV channels where the elderly can watch. Market segmentation incredibly developed through linkages between social, demographic, income, and gender groups and the products. Some studies argue that segmentation has gone further in that the slicing and dicing of sub-sub-sub groups. Through segmentation groups are selected and interviewed based on pre-selected characteristics to determine their reactions to products, features, packaging concepts, price-points, appearance, symbols, and message contents. It can also be achieved by use of census data, for example, urban working women between 30 and 45 with children in the home. Segmentation effectiveness depends on the design of the research and is measured by results later. The cost incurred through effort and skills deployed related to the cost of production. Product positioning is ideally derived from segmentation and similar marketing studies. In this, research determines the different reactions of distinct and measurable groupings of consumers.

The hospital is employing different position strategies in a manner that the hospital can survive competitively in market segments. By looking closely, similar organizations find themselves using almost same methods in positioning themselves. In their positioning strategies, a major strategy is their strong physician alignment that is the available medical staff. The hospital is positioning itself and becoming successful as it has strong physician alignment since mutual relationships are created. On the other hand, the hospitals are getting credit out of excellent rapport since all employees in the hospital work hand in hand to improve the services delivered to patients. Achievement of this has been made possible by integrating care and communication. The success of Priory Hospital potters bar has been attributed to the close association between the staff and the patients through communication.

The primary differentiation strategy the hospital has is giving numerous outpatient services. The hospitals outpatient services include various services including specialty services and emergency that provides medical care to the community.

Marketing Mixes in Priory Hospital Potter Bar

A business that is profitable and fruitful generally relies on checking and adjusting the marketing mix through the process of marketing management. Today, the healthcare industry has become dynamic with implications that may not be visible. An organization enjoys success when it achieves right the combination of the 7 Ps of the marketing mix. The Ps is Product, Place, Promotion, and Price, physical, people and process. Priory Hospital Potter Bar has been able to stand in the market by applying the 7ps in a marketing mix. The first P of the marketing mix is the product. The product mix in the hospital consists of two product lines: Acute inpatient services, and HDU Standards of care. In this product line, each has a specific width; the acute inpatient services available in the hospital. Again the product items have certain depth that is the hospital has 32 acute beds, 11 male HDU beds, and 7 female HDU beds. In case the hospital decides to expand its product mix, then this can be achieved by broadening the scope whereby the inpatient service can be added. It can also deepen the scope by adding more beds with an assumption that it is regulatory approved. Some services in the hospital play a crucial role in attracting patients. They are normally called product leaders products. The hospitals do promote its most sophisticated services as its crown jewels with a hope of convincing the public that the services indicate level of sophistication the rough out the hospital is (Jain, 2000). In Priory Hospital Potter Bar, while developing a service the service planner is usually involved. The service has to be distinguished through three levels that are core, tangible and augmented.

To begin with is core product which is the essential health care services the consumers are likely to seek for....

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