MHA 506 Wk 1 – Current Situation/SWOT Analysis Summary

Review the Case Study: East Chestnut Regional Health System document.

Assume you are the Marketing Manager for East Chestnut Regional Health. Upper management has requested you prepare a Current Situation/SWOT Analysis summary for them.

Conduct a Strengths, Weaknesses, Opportunities, and Threats (SWOT) Analysis on the organization, using the SWOT Analysis Worksheet for your analysis.

Consider the following in your analysis:

• Current internal product and service strengths and weaknesses
• Current competition
• Current or potential opportunities that exist in the external environment and their impact on the organization
• Current or potential threats in the external environment and their impact on the organization

Prepare the Current Situation/SWOT Analysis worksheet of your analysis in which you answer the question, “Where are we now as an organization?”. Use the worksheet questions as your guide to address the questions to follow.

Include the following in your Current Situation/SWOT Analysis Worksheet:

• 3 key strengths of the organization on which it can build
• 3 key weaknesses of the organization on which it can improve
• 3 key opportunities the organization could address in the marketplace to expand its offerings or improve its profitability
• 3 key threats the organization faces from the external environment
• How the organization can build on its strengths to address its weaknesses and threats
• How the organization can build on its strengths to take advantage of market opportunities

Write an introduction and conclusion paragraph using a minimum of 500 words. Remember to include your objective when writing an introduction paragraph.

Cite at least 3 reputable references to support your assignment (e.g., trade or industry publications, government or agency sites, scholarly works, or other sources of similar quality).

Submit your assignment.

MHA 506 Wk 2 – Summative Assessment: Financial and Ethical Impact Analysis Summary

Throughout this course, you will analyze the Case Study: East Chestnut Regional Health System (ECRHS).

Review the Case Study document.

Assume East Chestnut Regional Health upper management has asked you to analyze its current marketing strategies from both ethical and financial perspectives.

Use the Case Study Review Guide as a tool to help you complete your analysis.

Create a 1,050-word Financial and Ethical Impact Analysis for ECRHS’s current health care marketing strategy for upper management, based on the above factors.

Include a summary of each section in your analysis:

• Mission and objectives
• Organizational structure and culture
• Current marketing strategies
• Current financial analysis
• Competitive advantage
• Current value chain
• Current target market
• External environmental factors

Cite at least 3 reputable references to support your assignment (e.g., trade or industry publications, government or agency sites, scholarly works, or other sources of similar quality).

Submit your assignment.

MHA 506 Wk 3 -Marketing Matrix

Create a matrix that contrasts the differences between marketing in for-profit and not-for-profit health care organizations.

Include the following in your matrix:

• Centralized versus decentralized format of management
• Strategic goals of the organizations
• Variation in the access to the capital market
• Strategic marketing differences between these two types of organizations
• Quality attributes of the two types of organizations
• The management of pricing and volume

Include an introduction and conclusion with your matrix.

Cite at least 3 reputable references to support your assignment (e.g., trade or industry publications, government or agency websites, scholarly works, or other sources of similar quality).

Submit your assignment.

MHA 506 Wk 4 – Summative Assessment: Branding and Competitive Strategies’ Impact on Consumer Choice

Review the Case Study document.

Assume upper management of the organization is interested in understanding the impact its branding and competitive strategies have on consumer choice, as well as the impact of the bargaining power of consumers in the health care market, especially on your products and services.

Prepare a 1,050-word summary of branding and competitive strategies’ impact on consumer choice and bargaining power on ECRHS.

Part I: Branding Strategy Impact 

Analyze the impact that the current ECRHS brand has on consumer choice of its products and services. In your analysis, consider the following:

• What is the current branding strategy of ECRHS?
• How are the organization and its brand(s) perceived in the market?
• Are there any negative impacts of legal cases against the organization within the community or its consumers? How might this impact their choice of a health care provider?
• How have your acquisitions of other health care facilities impacted your brand image and hence consumer choice of your organization?
• How has your handling of the COVID-19 pandemic impacted your brand image?
• What impact do your branding strategies have on consumer choice and bargaining power?

Part II: Competitive Strategies Impact 

Analyze the impact that the current ECRHS competitors have on consumer choice of its products and services. In your analysis, consider the following:

• Who are the 3 largest competitors, and how do their offerings differ from those of ECRHS?
• What share of the market do the competitors hold?
• What are the threats of new entrants to the market and the organization?
• What is the threat of competitive/substitute products/services to the organization?
• What is the bargaining power of customers in the market?
• How does this bargaining power impact consumer choice in the market and for ECRHS?

Cite at least 3 reputable references to support your assignment (e.g., trade or industry publications, government or agency sites, scholarly works, or other sources of similar quality).

Format your citations per APA guidelines.

Submit your assignment.

MHA 506 Wk 5 – Group: Marketing Mix Strategy

This week you will develop the Marketing Mix strategies you recommend that East Chestnut Regional Health System will implement.

Individually, create your marketing mix strategy by completing parts I–IV below.

Part I: Product Strategy: 

Prepare a minimum 150-word summary of your product or service strategy for a new or revised existing product or service you recommend that East Chestnut Regional Health System develop. Include the following:

State your value proposition. Include the following elements:

• Customer value
• Collaborator value
• Company value

Explain your product/service strategy. Include the following elements:

• Describe the new or revised product or service in terms of product/service features and resulting consumer benefits.
• Explain how the new or revised product/service strategy satisfies consumers’ needs.
• Describe how the product or service differs from that of the competition.

Part II: Pricing Strategy: 

Prepare a minimum 150-word summary of the pricing strategy for the new or revised product or service for East Chestnut Regional Health. Include the following:

• Description of your pricing strategy (How will you set the price for your product or service. For example, what do you plan to charge for a visit to the Women’s Health Clinic for a particular service provided?)
• Cost basis for your pricing strategy (What does it cost to produce or deliver one product or element of service, for example, to deliver one visit to the Women’s Health Clinic for a particular service provided?)
• Primary and secondary marketing research support for your pricing strategy (For example, what is normally covered by insurance? What does the competition charge for the same or similar service?)

Part III: Placement Strategy:

Prepare a minimum 150-word summary of how East Chestnut Regional Health will distribute the new or revised product or service.

Part IV: Promotion Strategy: 

Prepare a minimum 150-word summary of your recommended promotional strategy for how East Chestnut Regional Health will promote the new or revised existing product or service you recommend. Include the following:

• Traditional advertising elements and budget
• Social media and online advertising elements and budget
• Website use
• Public relations strategy and budget
• Special event and/or promotional elements and budget
• Description of a consistent, coordinated message to be presented through all promotional elements

Post your marketing mix strategy to your team forum for review.

As a team, review each team member’s strategy and utilize the discussion to ask questions, provide input, or make suggestions on their project.

Each member should write a minimum 100-word summary of the feedback they received from their team as well as an explanation of why it did or did not help them refine their marketing mix strategy.

Combine the responses into a single document.

Submit your assignment.

MHA 506 Wk 6 – Summative Assessment: Market Estimation and Pro-forma Income Statement

Market demand is a central concept in health care economics. In addition, calculation of projected income is required to determine the impact of organization finances on the marketing plan. This week you will prepare a pro forma income statement for the new or revised existing product or service you recommended in your Marketing Mix Strategy in Week 5 for East Chestnut Regional Health System.

Review the Case Study document.

Pro Forma Income Statement for East Chestnut Regional Health: 

Complete the following prior to preparing the pro forma income statement and budget. You will need the following information in order to prepare it.

Part I: Market size calculation: 

Determine the size of the market for the ECRHS product or service you are recommending. Assume East Chestnut Regional Health is located in the market in which you live or work.

Visit the University Library Consumer Demographics page.

From this page, visit the United States Census Bureau sites linked under the heading Demographic Data. A rough estimate of need for health care products or services can be made based on the population demographics, using age, gender, and in some cases, race. On these sites, you can gain information on the total U.S. market for health care, as well as the number of U.S. consumers who fit your target market segmentation.

Determine the local market for the product or service you recommend for East Chestnut Regional Health.

Next, multiply the percentage of people likely to purchase your recommended ECRHS product or service by the estimate of market share you believe ECRHS can achieve for the product or service. For example, if there are 6,000 women who might be interested in ECRHS obstetrical services, and ECRHS has a potential 40% market share, this results in 2,400 patients.

Prepare a 150- to 300-word summary of your market determination process.

Part II: Breakeven Analysis: 

A breakeven analysis determines the number of products or amount of service that must be sold to consumers for the organization to break even or cover the costs of production or provision of the product or service.

You will prepare a breakeven analysis for the Case Study client, East Chestnut Regional Health.

Use the Breakeven Analysis Worksheet to prepare your analysis.

Prepare a 150- to 300-word summary of your breakeven analysis that includes the following:

• The fixed and variable costs of product production or service provision
• The price and number of units sold at that price
• The number of units of product or service sold to cover the fixed and variable costs at the price level.

Part III: Pro Forma Income Statement: 

A Pro Forma is an income statement that predicts income for your new or revised product or service you are recommending to East Chestnut Regional Health System (ECRHS) after one year. It shows the sales ECRHS expects to achieve during that period of time, along with the costs associated with that level of sales. The organization must cover the costs of products or services it delivers (Cost of Goods Sold) and the expenses we estimate to achieve those sales (salaries for sales reps, advertising, promotion, and office expenses, etc.). This will leave us with a projected profit.

A good Pro Forma Income Statement proves out a strategy by showing the expected revenue minus the expected costs and the resulting profit. Conversely, it shows that you can’t have $100,000 in forecast sales and $3 million in projected advertising, since that would result in a loss.

Use the Pro-forma Income Statement Worksheet to create your Pro Formal Income Statement.

Create a pro forma income statement based on the above. Include the following for 1 year:

• Projected sales volume in units and revenue
• Projected costs of goods/services
• Projected marketing expenses
• Projected net income

Prepare a 500-word summary statement of your Pro Forma Income Statement for East Chestnut Regional Health System for the new or revised existing product or service you have recommended. Include the following:

• Summary of Market Size Calculation (150 words)
• Summary of Breakeven Analysis (150 words)
• Summary of Projected Profit (200 words)

Part IV: Marketing Plan Considerations: 

Now that you have a better understanding of your market and the finances of the organization, you must consider how economics and finances can affect your marketing strategy.

Write a minimum 350-word analysis of how specific economic or financial issues will affect the marketing strategies for ECRHS.

Submit your assignment.