Health Care Management Assignment: Market Forces and Strategies

This assignment solution addresses key aspects of health care management, focusing on customer satisfaction, market analysis, and competitive dynamics. It begins by emphasizing the importance of understanding customer perceptions for effective marketing, highlighting how customer needs are crucial for achieving business success. The solution then explores the significance of competition and rivalry in the health care market, including the impact of technological advancements and AI. Finally, it applies Porter's Five Forces model to analyze the health care industry, examining competitive rivalry, the threat of substitutes, new entrants, and the bargaining power of buyers and suppliers. The analysis emphasizes how these forces influence care procedures and the costs within health care organizations. The assignment uses references to support the analysis and provides a comprehensive understanding of the subject.

Running head: HEALTH CARE MANAGEMENT
Health Care Management
Name of the Student
Name of the University
Author Note

1HEALTH CARE MANAGEMENT
Q1. The health care marketers should understand the customers and their perceptions
regarding any health care product as it is very crucial for effectively monitoring the prowess.
It is quite evident that to get success in the business, the issue of customer satisfaction is a
vital aspect (Hill & Brierley, 2017). Hence, by considering the needs of the customers,
marketers can achieve the goal of customer satisfaction. It is very crucial to create proper
marketing plan and also the costing of the product along with the proper designing of a
particular health care product according to the requirement of the customers. The study of
Camilleri (2018), reported about the importance of identifying the customers’ needs to
improve the brand value and also the market value of the product as well. The customer
satisfaction is the aspect for the marketer in a manner that he or she will consider for the
process of the better sale of the product.
Q2. The rivalry and competition are one of the significant characteristics of the health care
markets. Therefore, it is quite evident that it will be helpful for the consumers as competitions
in the industry will allow the inventions of high quality products. Moreover, it can be said
that the rivalry and competitiveness will encourage the market players in inventing more high
quality products. With the advancement of technology, the market players can have more
options regarding the inventions of the outcomes of the health care industries (Vashist et al.,
2015).
Along with this, the development of AI will also help the companies to design more
customer-friendly products. For example, it can be said that the use of AI in the radiology
instruments has made the devices more useful. Moreover, the study also reported being used
in drug discovery and even in many other health care products (Hosny et al., 2018).
Q3. According to this rule, the five forces present in the health care industry are competitive
rivalry, the pressure of other substitute products in the health care market, threats of new

2HEALTH CARE MANAGEMENT
companies in the existing market of the health care industry, bargaining powers of the buyers
and bargaining powers of the suppliers in the market (Moseley III, 2017). Among the five
elements, the bargaining power of buyers and also the bargaining power of the suppliers
would affect the care procedure or costing of a health care organisation (Yunna & Yisheng,
2014). The factor of the costs of the instruments set by the suppliers and the expected charges
by the customers would be the issue faced by the health care organisations. Hence, the proper
assessment with the help of the Porter’s five forces model would be required by the marketer
of the organisation.

3HEALTH CARE MANAGEMENT
References
Camilleri, M. A. (2018). Understanding customer needs and wants. In Travel marketing,
tourism economics and the airline product (pp. 29-50). Springer, Cham.
Hill, N., & Brierley, J. (2017). How to measure customer satisfaction. Routledge.
Hosny, A., Parmar, C., Quackenbush, J., Schwartz, L. H., & Aerts, H. J. (2018). Artificial
intelligence in radiology. Nature Reviews Cancer, 18(8), 500.
Moseley III, G. B. (2017). Managing health care business strategy. Jones & Bartlett Learning.
Vashist, S. K., Luppa, P. B., Yeo, L. Y., Ozcan, A., & Luong, J. H. (2015). Emerging
technologies for next-generation point-of-care testing. Trends in biotechnology, 33(11),
692-705.
Yunna, W., & Yisheng, Y. (2014). The competition situation analysis of shale gas industry in
China: Applying Porter’s five forces and scenario model. Renewable and Sustainable
Energy Reviews, 40, 798-805.