Chapter 7

Question 1

The American Marketing Association defines marketing as?

Answer 1

• the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Question 2

What are the 4 P’s of marketing?

Answer 2

• Product (goods, services, ideas)
• Price (charge for products including fees, premiums, deductibles, co-payments)
• Place (how goods and services are distributed or communicated)
• Promotion (to inform a market that an answer is available to its need)

Question 3

What is inbound marketing?

Answer 3

• research to identify potential customers and their needs, the means to meet those needs, analysis of the competition, and positioning and pricing a new service.

Question 4

What is outbound marketing?

Answer 4

• promotion of product or service through advertising, public relations, and sales strategies.

Question 5

What is a target market?

Answer 5

• A potential group of patients or clients with a specific need; where they might be an opportunity for new programs; important in health care to increase patient base; increasing patient base is very important to increasing revenue.

Question 6

A target market can be defined by?

Answer 6

• age, sex
• income/educational level
• profession/career
• type of residence
• zip code

Question 7

What must a manager do to establish the uniqueness of their organization?

Answer 7

• identify a name, or brand, to reflect that image to set them apart from the competition.

Question 8

What is the SWOT strategy?

Answer 8

• Strengths and Weakness of the organization (internal)

- possible Opportunities and Threats (external)

Question 9

What is Branding?

Answer 9

• some name, symbol, or other feature that distinguishes an organization from other similar organizations or services.

Question 10

What is social marketing?

Answer 10

• the application of commercial marketing techniques to services that are designed to influence the voluntary behavior of target groups to improve their personal welfare and that of society.

Question 11

What is the difference of traditional marketing and social marketing?

Answer 11

• traditional marketing aimed at meeting the need of customers
• social marketing is directed at changing the behaviors of a group of people