Term Paper

Place Mix

The place of location of the Hope healthcare organization will determine the specific place, the time and by whom the services will be offered to the target market. For this case, the firm is located in Gretchen Wilson Park 208 Pocahontas Ave, Pocahontas, IL 62275, and United States. It is a real setting, with many elderly people unlike in the urban places that have a majority of the people who are quite young. Additionally, there are few such organizations in the place and it means that the organization is expected to meet minimum competition as it is likely to serve many people.

It is important to note that when describing the place mix, the services are delivered through various channels. Different choices of the distribution channels are influenced by various factors for instance the needs of the customers among others (dos Santos et al., 2017). For this case, the Organization targets the elderly people through offering medical services and therefore the organization would use the direct distribution channel. It is because the organization would deliver the medical services to the elderly directly, by attending to their needs without using any middlemen or brokers. The doctors and the medical professionals would be responsible for rendering the medical services directly. Elsewhere, the distribution channel of the firm can be described as exclusive because it involves the delivery of services by use of one distributor that doubles up as the organization itself, i.e. through the doctors and medical professionals employed in the firm.

Promotional Mix

Promotion often is aimed at modification of behaviors and the thoughts or the reinforcement of existing behaviors and thoughts. The promotions done are often targeted to inform, persuade, and even to remind the target market of the products offered by the firm. It is vital to note that advertisement, personal selling, sales promotion, and public relations make up the main tools of the promotional mix (Sengul, 2018). The organization would rely on the mouth words to the clients seeking its services, use of banners, and the posters which will be put in town advertising the services that are offered by the organization. Such Advertising is meant to establish the organization as a dominant player in the market through seeking to inform new people of the organization and to constantly remind the existing clients so that they don’t forget about the organization and its services offered. It is also meant to correct any misconceptions about the organization which could be peddled around (Castillo‐Apraiz & Matey, 2020).

It is the belief of the organization and its management that the techniques chosen would help to create strong bonds with existing customers and attract more clients to the organization which would in turn help to boost the business of the organization. It, therefore, implies that the organization uses three main tools of the promotional mix are personal selling - by the doctors and nurses of the organization, advertising - by use of the banners and posters, and through public relations i.e. addressing the concerns of the public about the firm and image correction and betterment through effective communication to the public regarding the services and reputation of the firm.

Price Mix

The prices and costs incurred when seeking services from the firm would be the value of money for the services sought after. The determination of the cost of treatment in the organization would be dependent on the for instance the demand for the services, perceived quality of services offered among others (Thabit & Raewf, 2018). It is also important to note that the prices set have to be the ones that can be afforded by the majority of the people who seek services of the organization. It means that the organization would embark on research on what the majority can afford which would guide the setting of the prices of its services. The organization believes that it will offer a quality of service that would be second to none. It, therefore, means that the prices would communicate the quality of services offered albeit must be affordable by the majority of the people. The organization would put the affordability of its services by the people first before it can set any prices for its services. However natural forces such as the forces of demand for the services might have to play a role in the prices with time. It is important to note that other factors that have the potential to affect the price mix include for instance stages of the product or services life cycle and the promotion or the distribution strategies used by a given organization (Lahtinen, Dietrich & Rundle-Thiele, 2020).

Staff Additions and Reductions Impact

With the increase in the demand for the services offered the organization would be needed to employ more staff members to offer optimal services to the people. However, if the staff number would be deemed surplus bit may necessitate a reduction in the staff numbers. It is therefore important to keep the number of staff members optimal in the organization for quality purposes.

Financial Impact

The profits made by the organization would be determined with the nature of the business done, the number of clients, and the pricing of the services of the organization. More clients, for instance, would mean more business and hence more profits which can help in the expansion of the organization for instance through the opening of other branches of the organization elsewhere. More revenues and profits would help to sustain the business in the market while little business or no business would hurt the existence of the firm in the market because it cannot be able to sustain itself in the market with such low revenues and profits (Wu & Li, 2018). Elsewhere, more profits would help the organization to be able to hire more staff members who can help in the provision of more and higher quality services to the clients of the organization. It means that the financial health or soundness of the organization would play a great role in its existence and operation in the market not to forget the ability of the organization to directly contribute to the social aspects through giving money to social projects.

References

Castillo‐Apraiz, J., & Matey, J. (2020). Customizing competitive strategy to entry timing: Implications for firm performance in the pharmaceutical industry. Managerial and Decision Economics, 41(6), 976-985.

dos Santos, R. R., de Melo Melo, F. J. C., de Queiroz Claudino, C. N., & de Medeiros, D. D. (2017). Model For Formulating Competitive strategy: the supplementary health sector case. Benchmarking: An International Journal.

Lahtinen, V., Dietrich, T., & Rundle-Thiele, S. (2020). Long live the marketing mix. Testing the effectiveness of the commercial marketing mix in a social marketing context. Journal of Social Marketing.

Sengul, M. (2018). Organization design and competitive strategy: an application to the case of divisionalization. In Organization Design. Emerald Publishing Limited.

Thabit, T., & Raewf, M. (2018). The evaluation of marketing mix elements: A case study. International Journal of Social Sciences & Educational Studies, 4(4).

Wu, Y. L., & Li, E. Y. (2018). The marketing mix, customer value, and customer loyalty in social commerce: A stimulus-organism-response perspective. Internet Research.