Milestone 3

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HCM 325: Final Project Guidelines and Grading Guide

Overview

The final project for this course is the development of a healthcare marketing plan based on an identified product or service in a healthcare organization. You will choose a product or service of an existing healthcare organization as the subject for this project. The product or service should be chosen based on an assumed potential for increased sales as the result of the marketing plan. After conducting research, you will create a healthcare marketing plan that identifies a target audience, analyzes the market for the product or service, and executes a plan for improving upon the product or service. A SWOT analysis, competitive analysis, and budgeting will be components of the healthcare marketing plan.

The project is divided into three milestones, which will be submitted at various points throughout the course to scaffold learning and ensure quality final submissions. These milestones will be submitted in Modules Two, Three, and Five. The final draft will be submitted in Module Seven.

This assessment will address the following course outcomes:

· Explain common marketing issues present within healthcare organizations

· Correlate the relationship between the needs assessment and marketing processes

· Interpret market data applicable to the campaign process

· Propose strategies to maximize the effectiveness of healthcare marketing campaigns

Prompt

Choose an existing healthcare organization and identify an issue that exists with one of its products or services. Create a healthcare marketing plan that provides suggestions for improving upon this issue.

Specifically, the following critical elements must be addressed:

1. Organization

a. Explain your chosen healthcare organization and describe its mission, goals, and current products or services.

b. Describe an existing issue with one of the products or services offered by the healthcare organization.

c. Describe the product or service price and placement within the market (for example, the Providence outpatient clinic for the homeless utilizes Medicaid as its main payer source and is located in downtown Portland).

d. Describe the root cause of the issue, and clearly state assumptions for improving sales of this product or service.

2. Target Market

a. Clearly establish the target market that the marketing plan will address.

b. Describe the demographics of this target market, including age, sex, job description, and motivation for the product or service.

3. SWOT Analysis

a. Analyze your organization’s internal strengths and weaknesses. Consider factors such as personnel, finances, manufacturing capabilities, corporate culture, product or service pricing, current promotion, and so on.

b. Analyze your organization’s external opportunities and threats. Consider factors such as competitive position, applicable legislation, technology, and any other macroeconomic considerations.

4. Competitive Analysis

a. Define the scope and nature of the healthcare industry segment (pharmaceutical, internal medicine, rehabilitation, etc.).

b. Determine who the competitors are and describe their individual strengths and weaknesses with respect to your chosen organization and product or service.

c. Define the key success factors in the chosen industry and rate competitors based on these factors.

d. Summarize the organization’s market position in light of the analysis.

5. Proposed Strategies

a. Propose a strategy for solving the identified issue (sales plan, advertising, process improvement, etc.) and explain the rationale behind the chosen strategy.

b. Describe how your strategy will fill a need or find a competitive advantage.

6. Proposed Budget

a. Complete a proposed budget for the entire healthcare marketing plan. Include a financial estimate for promotional materials and any advertising that would need to be included in the budget.

7. Tracking Plan

a. Include a plan for tracking the effectiveness of the marketing plan.

Milestones

Milestone One: Introduction of Organization and Product/Service

In Module Two, you will submit a description of your chosen organization and the product or service that will be the focus of your marketing plan. Describe the organization’s mission, vision, values, goals, and market objectives and describe the product or service, along with your rationale for choosing your product or service. The format for this assignment is a one-page Word document following APA guidelines. This milestone will be graded with the Milestone One Rubric.

Milestone Two: Target Market and SWOT Analysis

In Module Three, you will submit the chosen target market with demographics and complete a SWOT analysis. Describe your target market’s demographics to include gender, age, income, occupation, education, household size, and relationship to the product or service. Then complete a SWOT (strength, weakness, opportunity, and threat) analysis that addresses the following:

· Analyze your organization’s internal strengths and weaknesses. Consider factors such as personnel, finances, manufacturing capabilities, corporate culture, product or service pricing, and current promotion.

· Analyze your organization’s external opportunities and threats. Consider factors such as competitive position, applicable legislation, technology, and any other macroeconomic considerations.

At least three items should be listed in each category of the SWOT analysis, accompanied by a brief description of each. The format for this assignment is a one- to two-page Word document following APA guidelines. This milestone will be graded with the Milestone Two Rubric.

Milestone Three: Competitive Analysis

In Module Five, you will complete and submit a competitive analysis. This analysis will include a list of competitors with strengths and weaknesses, strategies and objectives, and market outlook. The format for this assignment is a one- to two-page Word document following APA guidelines. This milestone will be graded with the Milestone Three Rubric.

Final Project Submission: Healthcare Marketing Plan

In Module Seven, you will submit your final marketing plan. This plan must contain the three previous milestone elements as well as additional elements, including the specific strategy to exploit opportunities identified in your SWOT analysis, specific promotional techniques, the budget necessary to execute your plan, and a way to track the effectiveness of the plan. This submission will be graded with the Final Product Rubric.

Final Product Rubric

Guidelines for Submission: Your submission should be 7–10 pages in length (in addition to the cover page and resources) and should use double spacing, 12-point Times New Roman font, one-inch margins, and APA-style citations.

Critical Elements	Exemplary (100%)	Proficient (85%)	Needs Improvement (55%)	Not Evident (0%)	Value
Organization: Mission, Goals, and Current Products or Services	Meets “Proficient” criteria and uses industry-specific language to establish expertise	Outlines the company’s mission, goals, and current products or services	Outlines the company’s mission, goals, and current products or services but lacks specificity	Does not outline the company’s mission, goals, and current products or services	6
Organization: Existing Issue	Meets “Proficient” criteria and provides specific examples of how the issue will support or hinder the overall marketing strategy	Defines an existing issue with one of the products or services offered by the healthcare organization	Defines an existing issue but lacks specificity with regard to the chosen product or service	Does not define an existing issue	6
Organization: Price and Placement	Meets “Proficient” criteria and provides specific, persuasive examples of how the pricing and distribution strategy will support the overall marketing strategy	Describes key attributes of the pricing and distribution strategy with regard to the chosen product or service’s value and placement within the market	Details a pricing and distribution strategy but lacks specificity with regard to the availability or value to the targeted consumers	Does not describe key attributes of the pricing and distribution strategies	6
Organization: Assumptions for Improving Sales	Meets “Proficient” criteria and provides specific examples	Clearly states the assumptions for improving sales of the product or service	States the assumptions for improving sales but lacks specificity with regard to the chosen product or service	Does not state the assumptions for improving sales of the product or service	6
Target Market: The Market	Meets “Proficient” criteria and provides specific, persuasive examples of how the target market will support the overall marketing strategy	Defines the target market and justifies position with specific examples from research	Defines target market but does not sufficiently justify position with specific examples from research	Does not define target market	6
Target Market: Demographics	Meets “Proficient” criteria, and methodology aligns with industry best practices	Selects demographics research that will be used to retrieve information about the target market and consumers, and justifies selection with research	Selects demographics research that will be used to retrieve information about the target market and consumers, but does not justify selection with research	Does not select demographics research that will be used to retrieve information about the target market and consumers	6
SWOT Analysis: Internal Strengths and Weaknesses	Meets “Proficient” criteria, and analysis provides detailed examples	Provides an analysis of the organization’s internal strengths and weaknesses, considering factors such as personnel, finances, manufacturing capabilities, corporate culture, product or service pricing, and current promotion	Provides an analysis of the organization’s internal strengths and weaknesses but does not support position with specific examples from research	Does not provide an analysis of the organization’s internal strengths and weaknesses	6
SWOT Analysis: External Opportunities and Threats	Meets “Proficient” criteria and provides detailed examples	Provides an analysis of the organization’s external opportunities and threats such as competitive position, applicable legislation, technology, and other macroeconomic considerations	Provides an analysis of the organization’s external opportunities and threats but does not support position with specific examples from research	Does not provide an analysis of the organization’s external opportunities and threats	6
Competitive Analysis: Scope and Nature of the Healthcare Industry Segment	Meets “Proficient” criteria and definition is clear, uninhibited, and persuasive	Defines the scope and nature of the healthcare industry segment (pharmaceutical, internal medicine, rehabilitation, etc.) and justifies position with research	Defines the scope and nature of the healthcare industry segment but lacks specificity or does not justify position with research	Does not define the scope and nature of the healthcare industry segment	6
Competitive Analysis: Competitors	Meets “Proficient” criteria and provides specific examples of competitors supported by research	Determines who the organization’s competitors are and describes their individual strengths and weaknesses with respect to the chosen organization’s product/service	Determines who the organization’s competitors are, but description of their strengths and weaknesses with respect to the chosen organization’s product/service is lacking in detail	Does not determine who the organization’s competitors are or describe their individual strengths and weaknesses	6
Competitive Analysis: Key Success Factors	Meets "Proficient" criteria, and definition is rooted in appropriate analysis	Defines the key success factors in the chosen industry and rates competitors based on these factors	Defines the key success factors in the chosen industry but does rate competitors based on these factors	Does not define the key success factors in the chosen industry or rate competitors based on these factors	6
Competitive Analysis: Market Position	Meets “Proficient” criteria, and summary provides specific, persuasive examples	Summarizes the organization’s market position in light of the analysis and justifies summary with research	Summarizes the organization’s market position but does not justify summary with research	Does not summarize the organization’s market position in light of the analysis or justify summary with research	6
Proposed Strategies: Solving the Identified Issue	Meets “Proficient” criteria and provides specific, persuasive examples of how the proposed strategy will support the overall marketing plan	Proposes a strategy for solving the identified issue (sales plan, advertising, process improvement, etc.) and explains the rationale behind the chosen strategy	Proposes key attributes of the strategy but does not explain the rationale behind the chosen strategy	Does not propose or explain the chosen strategy	6
Proposed Strategies: Filling a Need	Meets “Proficient” criteria and provides specific, persuasive examples	Describes how the proposed strategy will fill a need or find a competitive advantage	Describes how the proposed strategy will fill a need, but does not describe how the strategy will find a competitive advantage	Does not describe how the proposed strategy will fill a need or find a competitive advantage	6
Proposed Budget	Meets “Proficient” criteria, and proposed budget aligns with industry standards	Provides a proposed budget for the entire healthcare marketing plan, including a financial estimate for promotional materials and any advertising that would need to be included in the budget	Provides a proposed budget for the marketing plan, but budget lacks specificity or does not include a financial estimate for promotional materials and any advertising that would need to be included in the budget	Does not provide a proposed budget for marketing plan or include a financial estimate for promotional materials and any advertising that would need to be included in the budget	6
Tracking Plan	Meets “Proficient” criteria, and tracking plan aligns with industry standards	Includes a plan for tracking the effectiveness of the marketing plan	Includes a plan for tracking the effectiveness of the marketing plan but does not provide detail	Does not include a plan for tracking the effectiveness of the marketing plan	6
Articulation of Response	Submission is free of errors related to citations, grammar, spelling, syntax, and organization and is presented in a professional and easy to read format	Submission has no major errors related to citations, grammar, spelling, syntax, or organization	Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas	Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas	4
Earned Total	100%