Competitive Analysis and Marketing Mix

Phase III: Service Overview, Competitive Analysis, Marketing Mix

I. Service Overview

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This service describes the new service-the benefits and features that you are providing and to whom.

It is important to recognize that the benefits may way from customer to customer. Patients may see one value or benefit such as timely clinical intervention, whereas the referral sources may see a different benefit, such as having the patient under supervised care within 3 hours of a call, or medical group may see a different benefit having a competitive value with which to better negotiate contracts.

• What is the proposed new service/product unique features and benefits?

• What values does it provide to the key target market?

• What are the benefits of this new service/product?

• How is this new service/product against existing services and products offered by others?

• What are you doing differently?

I. Target Market

• Understand your customers (be they patients, family members, judges, third-party payers, employers, o the government)

• How is the market segmented? Who in the group is involved in the buying decision?

II. Competitive Analysis

The competitive analysis is a thorough analysis of both direct and indirect competitors. It identifies strengths and weaknesses of competitors. Indirect competitors may not provide the same service, but they may be competing for the same dollars.

• Describe your competition’s service

• What is/are their point(s) of differentiation?

• What real value do they deliver to the customer that others do not?

• What is their marketing/advertising approach?

• What are the opportunities or threats to your organization?

III. Marketing Mix-Promotional Strategy

• What are the key messages you want to convey in your marketing materials about your organization?

• How are you positioning your service/organization?

• What mix of vehicles will you use?

• What are the objectives?

IV. Marketing Mix-Place

• Where will the service/product be delivered (location, hours, technology utilized)?

• What are the costs associated with this manner of distribution?

• What is the marketing importance/advantage of the location?

• Does the location/distribution approach provide any competitive advantages?

V. Marketing Mix-Pricing

• Labor costs of FTEs (full time employees)

• Overhead costs?

• Margin costs? Other Pricing considerations:

• Customer perception of value

• Will there be discounting?

• What type of pricing strategies will you use?

Refer to Chapter 9 – Price

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