Week 3 marketing

WEEK 3 MARKETING Lecturer: WEEK 3 MARKETING While attempting to segment its market, there are some bases upon which Leon Medical Centers must approach the segmentation. First of these is the issue of demographics of targeted segmented markets. It would be noted that there are various health need trends in the South-Florida market and the United States for that matter that varies from one demographic group to the other (Dionne and Eeckhoudt, 2005). Some of these demographic differences are on gender, age, and occupation. It would therefore be important to base the segmentation on demographics that best meet the business orientation of the hospital. In the second instance, it will be important to put emphasis on purchase behaviors. Differences in purchase behavior influence the success of any business, including those in the health sector (Hemenway, 2010). Iit is therefore important to research the proposed markets to find out if the consumers within the market have certain purchasing behaviors that are in line with the organizational culture of the medical center.
Lastly, the issue of psychographics is very crucial. Psychographics have been explained to encompass qualitative attributes of the market that focus on the way the people and what they want to do (Dionne and Eeckhoudt, 2005). Clearly, the mentality of the people towards the health care delivery system is very important in undertaking the market segment. Once these factors are critically considered, it can be assured that marketing mix would change in light of the segmentation utilization. But as the segmentation takes place, it will be important to measure distribution rather than concentration because distribution will give the center the opportunity to cater for the different health needs of the markets as depicted in demographic, psychographic and purchasing behavior differences.
References
Dionne, G. and Eeckhoudt, L. (2005). “ Self- Insurance, Self-Protection, and Increased Risk Aversion”, Economics Letters 17(3); pp. 39-42.
Hemenway, D. (2010). “ Propitious Selection”, Quarterly Journal of Economics 10(5); pp. 1063-1069.