Evaluate the potential value of Michael Porter’s Five Forces analysis and SWOT Analysis for effective decision making, in its ability to help Scarlet Hospital protect its market share and thus decrease the chance of losing patients to other institutions in Salem.
Write a four to six (4-6) page paper in which you:
- Based on the textbook’s summary of Timothy’s philosophy of continually striving for excellence, determine whether or not Scarlet Hospital was prepared to compete with the establishment in Salem even before the highway improvement mandated such an upgrade in delivery health care services.
- Examine the potential lessons that the “Stopping Outshopping” case could teach health care executives about complacency.
- Evaluate the potential value of Michael Porter’s Five Forces analysis and SWOT Analysis for effective decision making, in its ability to help Scarlet Hospital protect its market share and thus decrease the chance of losing patients to other institutions in Salem.
- Appraise the value of the Balanced Scorecard model in its ability to help Scarlet Hospital executives reinforce its defensive marketing strategy.
- Propose a one (1) page offensive marketing strategy (i.e. communication, branding, innovation, etc.) that Scarlet Hospital should deploy in order to turn the table on Salam-based health care providers and improve its competitive marketing position.
- Use at least five (5) quality academic resources. Note: Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
- Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
- Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
- Examine the marketing research process and market segmentation strategies in the health care industry.
- Integrate the SWOT Analysis into viable recommendations to meet the health care services organization’s operating requirements.
- Analyze the components of the balanced scorecard and conduct trend and ratio analysis to assess health strategic marketing.
- Apply Michael Porter’s Five Forces analysis for effective decision making to efficiently utilize health services resources and achieve organizational goals.
- Explain the impact that the population and societal, competitive, and financial forces have on health care services.
- Use technology and information resources to research issues in health services strategic marketing.
- Write clearly and concisely about health services strategic marketing using proper writing mechanics.
Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using