Demographics and Demographic Trends
Premier Healthcare would target married people who are between 21 and 35 years old. These people generally have at least one child. In addition, their education level is beyond high school. The above target market has a combined annual family income of more than $50,000. Therefore, they can afford to pay for some of the services that the healthcare facility would offer. The healthcare facility would target people who live within the New York area. The above market segment would require various services that the healthcare facility offers. Therefore, focusing on the market segment would enable the healthcare facility to maximize its revenue and profits.
The population of people in the market segment has been stable. The stability of the number of people in the market segment would provide Premier Healthcare with a continuous flow of customers. In addition, due the fact that people in the market segment require various healthcare services, the healthcare facility would be able to maximize its income.This would require various healthcare services, the healthcare facility would be able to maximize its income. This would guarantee the future financial stability of Premier Healthcare.
Policy, Law, Regulations
Premier Healthcare should ensure that its activities align with existing laws and regulations of the state of New York. The healthcare facility would ensure that it does not involve in unethical activities to attract customers. In addition, it would ensure that it has all the relevant certifications to provide services to people in New York and its environs.
There are several healthcare facilities in the New York area. The healthcare facilities specialize in the provision of various healthcare services. Public healthcare facilities account for a significant number of healthcare facilities in the industry. Public healthcare facilities are non-profit organizations. However, they do not offer high quality services. Premier Healthcare facility would offer high quality services to its customers. In addition, offering specialized services would help in attracting customers. Very few healthcare facilities in the New York area offer specialized healthcare services. Therefore, Premier Healthcare would differentiate its services from those of the competition. This would enable the healthcare facility to have a competitive edge over other healthcare facilities in the industry (Kay, 2007).
Market research would a key component of the marketing plan of Premier Healthcare. Market research would help in determining potential customers, their opinions on healthcare services, trends, and future expectations. It would also help in determining the demographic characteristics of consumers. Therefore, determining the customer profile is one of the major aims of market research. Determining the customer profile would enable Premier Healthcare to provide services that the customers would appreciate. In addition, it would enable Premier Healthcare to determine similarities between the healthcare services it offers and the services of competitors (Kay, 2007).
Research shows that very few healthcare facilities offer services that are similar to those offered by Premier Healthcare. Research also shows that customers value high quality services. Healthcare facilities that offer high quality services have loyal customers. Offering high quality services would be one of the major factors that would make Premier Healthcare have a competitive edge over other healthcare facilities in the industry. Healthcare insurance providers cater for a significant proportion of healthcare costs. Therefore, it is vital for Premier Healthcare to ensure that it has the necessary certifications to enable it receive payments from healthcare insurance providers (Devers, Brewster & Casalino, 2003).
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