Sample Health Care Paper on Customer Wants and PESTEL Analysis

Customer Wants and PESTEL Analysis

Should Health Care Marketers Understand Customers Perception of Products to Monitor Prowess at Addressing and Satisfying Customer Wants and Needs?

Understanding customers and their perception of products is an important segment in the healthcare industry since the concept enables the management to effectively promote their commodities. Moreover, the technique helps the industry to determine the value of commodities and services that are affordable among their consumers and build the organization’s image (McFarlane, 2013). The process significantly promotes new inventions and provision of quality services to retain and enhance client loyalty.

Provide an Example to Support Your Rationale

An example includes the pharmaceutical industries that are involved in the sale of drugs to different consumers. As such, the marketing managers tend to understand the demographics of their target market to effectively enhance service delivery (Masárová, Štefániková, & Rypáková, 2015). Consequently, this helps the organizations to set affordable prices based on their clients’ level of socio-economic status. 

Assess the Value and Importance of a PEST Analysis as a Tool for Mentoring and Evaluating the Macroenvironment

As an analysis tool, PESTEL categorizes macro-environmental influences into distinct factors such as economic, political, social, environmental, technological, and legal. The framework enhances investigation of the impacts of each element on the organization, hence providing an opportunity to develop mitigating strategies (Gupta, 2013). Moreover, the findings can be used to create contingency plans for risks and utilize the opportunities for the hospital benefits.

Provide Examples of PEST Analysis that Apply in Healthcare Organization

Technological and legal factors play a significant role in the provision of quality services and products in the healthcare industry. For instance, technological inventions such as the social media impact the marketing channel of various hospitals as it helps the institutions to reach a wide customer base (Gupta, 2013). Consequently, legal elements such as taxes on raw material either increase or lower the prices of final products. 

References

Gupta, A. (2013). Environment & PEST analysis: An approach to external business environment. International Journal of Modern Social Sciences, 2(1), 34-43. Retrieved from https://pdfs.semanticscholar.org/d9d2/86c5a903a91d4e5e6cff565f186f91383a02.pdf

Masárová, G., Štefániková, Ľ., & Rypáková, M. (2015). The necessity of obtaining information through marketing research in the field of pharmaceutical companies on the Slovak market. Procedia Economics and Finance, 23, 1480-1484. Retrieved from https://www.sciencedirect.com/science/article/pii/S2212567115003561

McFarlane, D. A. (2013). The strategic importance of customer value. Atlantic Marketing Journal, 2(1), 5. Retrieved from https://digitalcommons.kennesaw.edu/amj/vol2/iss1/5/