“Product and Service Offerings; developing and branding new offerings” Please respond to the following:
- From the e-Activity, determine the best way for the health care provider to distinguish and differentiate its product offerings from those of its competitors. Provide specific examples to support your response.
- Describe a novel product or service (please be as creative as you like) and briefly discuss a brand management strategy. Discuss the steps in the development process and identify the step that may pose a major challenge. Provide specific examples to support your response.
Expert Solution Preview
Introduction:
As a medical professor, it is important to not only teach students about medical practices but also about health care business practices. Thus, developing and branding new offerings is an essential aspect of the healthcare industry. In this response, we will discuss the best way for a healthcare provider to distinguish and differentiate its product offerings and describe a novel product or service and briefly discuss the brand management strategy.
1. From the e-Activity, determine the best way for the healthcare provider to distinguish and differentiate its product offerings from those of its competitors. Provide specific examples to support your response.
The best way for the healthcare provider to distinguish and differentiate its product offerings from those of its competitors is through creating a strong brand image. The provider can focus on specific features of their products such as quality, price, and convenience. Quality is an important factor, and the provider can emphasize their high-quality products by highlighting their certifications and reviews. For example, Mayo Clinic markets their quality of care to differentiate themselves from competitors. Price can also be a factor, and the provider can offer low prices or discounts as a way to stand out. Finally, convenience can be a significant factor, and the provider can emphasize their ease of scheduling appointments or provide online consultations.
2. Describe a novel product or service (please be as creative as you like) and briefly discuss a brand management strategy. Discuss the steps in the development process and identify the step that may pose a major challenge. Provide specific examples to support your response.
A novel product can be a smart pillbox that sends reminders to patients to take their medication on time. This pillbox can connect to the internet and send medication schedules to patient’s mobile devices. To create a brand management strategy, we can focus on the ease and convenience of using the pillbox. The brand can focus on the benefits of managing medication properly and the peace of mind it brings to family members. The steps in the development process are identifying the need, designing the product, prototyping, and launching the product. The step that may pose a major challenge is designing the product as it may require a thorough understanding of the technology and the medical industry. For example, if the product design is not user-friendly or does not meet patient needs, it may not be successful. Therefore, the design step should involve user testing and feedback to ensure that the product meets the needs of patients.
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