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No matter how much effort you apply, if you do not know about the five Ps of healthcare marketing, then my friend, you probably need to do a fact check. The first page of your marketing diary should be about the 5 Ps of healthcare marketing.
In this blog, I will help you draw insights on what is the marketing mix is and how can it help you grow your healthcare business:
- 1. Product:
- When we talk about products, it might include anything that you have to offer your clients. It could be tangible or intangible, depending on the functionality and requirement.
- 2. Price:
- This term is self-explanatory. Whatever pricing strategy you use for your healthcare products can be mentioned. Whether it’s any discount or voucher, you need to have a crystal clear idea about the terms and conditions that will run.
- 3. Promotion:
- Advertising (both online and offline) and sponsorships are included under the topic. But the main thing which you need to take into consideration for your healthcare business is the breakeven analysis.
- 4. Place:
- This topic includes every area where healthcare products are being purchased or sold. Even though many online platforms supply services and products these days, honestly, knowing where the products are being sold could be very beneficial.
- 5. People:
- Whom are you selling, and who is selling?
- This is general information that you need to have when selling your business in the healthcare industry.
- Let us shift to the second dimension – why do you need to know about the 5 Ps?
1. Knowing your B2B clients the better way
When you have a clear-cut idea of what you will present in the healthcare market or what your company shall represent, you have greater chances of knowing and finding better clients for your business.
2. Knowing where your business stands
If you have explored the right pricing strategy, you can have a straightforward idea of how your healthcare marketing product shall function in business positions. Additionally, an attractive pricing structure can help you attract the perfect clients.
3. Understanding the customer value
If you have a fixed budget, it is essential to evaluate how the customers will react to the products and services. When you conduct a breakeven analysis, it becomes easier for you to evaluate whether the marketing promotional methods would work or not.
4. Checking on usability and accessibility
Even if you are a B2B healthcare owner, when you have an idea about the area where you will sell, you can gain the upper hand over the B2B market. Additionally, you can check the usability of your product and how people will access it.
5. Arranging work staff
To represent your products and services in front of clients. You need to select adequate work staff. Blindly, hiring anyone might be detrimental to your business.
In the end:
I am writing this blog because I do not wish to tutor readers about marketing strategy. It’s just that young B2B marketers need to know specific thumb rules of the healthcare industry. Lack of knowledge of essential marketing would be like playing the game of blind man buff in the same area. So act wisely with your decisions.
Additionally, when you have an idea about how the market works or the marketing mix, you can easily capture the market within less period by building a B2B healthcare client database or contacting a reputed B2B database provider like FountMedia. A lot of B2B owners have benefited after purchasing actual databases from this company.