Market Segmentation and the Identification of Target Markets
This discussion will allow you to obtain additional information for the Marketing Mix section of your Final Project. Specifically, you will generate content that will support the marketing segmentation and target market elements of the Marketing Mix section of your project.
As discussed in Chapter 9, current healthcare organizations are providing a greater degree of services to their patients based on consumer demand. Many organizations have broken or segmented their products/or services into manageable units, which requires marketing departments to implement very specific marketing mixes that are tailored to defined target markets. Consider your chosen healthcare organization. Based on the marketing objectives you identified in your Week Three Assignment, use the table below (also found in Chapter 9 of the course text) as a guide to determine at least one possible target market for your marketing plan. Discuss why you chose that market segment and how you chose the target marketing.
Table 9.5 The Two-Phase Strategy of Market Segmentation and Target Marketing
Phase One: Market Segmentation Phase Two: Target Marketing 1. Identify bases for segmenting the market. 1. Select the target markets. 2. Develop profiles of resulting segments. 2. Develop positioning for each target market. 3. Develop measures of segment. 3. Develop marketing mix attractiveness for each target market.
Adapted from Strategic Planning and Marketing in Healthcare Organizations by R. Stevens and L. S. Silver, 2015, section 9.4: “Market Segmentation and Target Marketing.” Copyright 2015 by Bridgepoint Education, Inc.
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