Justify the purpose of the selected health care establishments’ product(s) / service (s) and their associated life cycle(s).Health Care Marketing Strategies

Health Care Marketing Strategies

Healthcare providers have an obligation to provide patient-centered products, services, and marketing strategies that are effective to increase market share and keep the sector competitive (Kim, 2019, Kim). Healthcare establishments must be open to new marketing and sales ideas in today’s global market. This is especially important when trying out new markets and introducing new products. A healthcare investor might need to think about whether it is feasible to build a hospital in rural areas or sell mosquito repellents in malaria-infested regions in Asia and Africa. You will need to analyze the customer base and competitors as well cultural differences. A thorough portfolio analysis could help improve the marketing mix for a healthcare institution. The portfolio analysis includes assessing the current offerings and identifying opportunities to add new products (Hitt et. al., 2020). An organization in healthcare can conduct a portfolio analysis to determine the strengths and weaknesses of their product offerings as well as identify any potential gaps in the market for new products or services. (Kotler and al., 2020).