Running Head: SLP 2 1
SLP 2 4
SLP 2
DeMario J. Stackhouse
Trident University International
26 May 2019
Market Analysis
As noted in the earlier discussion, BestCare Long-Term Care Facility will be located at Tampa Bay in Florida due to the current and future high demand for long-term care services in this state. Besides, the market for long-term care in this area is growing. It is not saturated since most health care organizations have not fully exploited this particular area. The demand is also increasing because of the presence of a high number of older adults and understaffing of nurses which raises the need for long-term care services. The currently available facilities like Woodbridge Care Center and Palm Terrace Assisted Living Facility & Adult Day Care are unable to meet the increasing demand in Tampa Bay and Florida State as a whole. Although some health care organizations that were initially not offering long-term care are now considering providing this service, the demand is still not adequately met.
Therefore, since the market is growing, BestCare Long-Term Care Facility will integrate new approaches into the market as well as embrace the latest technology to differentiate from new competitors and become a significant market shareholder. Typically, the facility will adopt a differentiation marketing approach by distinguishing its services from rivals in the market (Kassem & Succar, 2017). It will offer high-quality, speedy, and accurate services that align with client demand. To achieve this, BestCare Long-Term Care Facility will hire highly trained nurses and professionals who will ensure that customers receive services that meet or surpass their expectations. Going forward, the facility will also ensure that its services are accessible by opening other branches that are close to clients. It will also offer options for clients to either receive the services within the facility or in their homes. This approach will give the hospital an edge in the market because clients would enjoy receiving services at their comfort zones which might be less costly (Coulter et al., 2015). Additionally, BestCare Long-Term Care Facility will also incorporate the latest technologies like efficient diagnostic equipment, EMR, and Big Data techniques that will ensure clients receive high-quality long-term care services. For instance, Big Data techniques will allow the facility to predict clients at risk of developing other diseases in the future, thus take appropriate early response.
Besides, the challenges of the marketplace that BestCare Long-Term Care Facility will be entering include underserved .
1. Running Head: SLP 2
1
SLP 2
4
SLP 2
DeMario J. Stackhouse
Trident University International
26 May 2019
Market Analysis
As noted in the earlier discussion, BestCare Long-Term Care
Facility will be located at Tampa Bay in Florida due to the
current and future high demand for long-term care services in
this state. Besides, the market for long-term care in this area is
growing. It is not saturated since most health care organizations
have not fully exploited this particular area. The demand is also
increasing because of the presence of a high number of older
adults and understaffing of nurses which raises the need for
long-term care services. The currently available facilities like
Woodbridge Care Center and Palm Terrace Assisted Living
Facility & Adult Day Care are unable to meet the increasing
demand in Tampa Bay and Florida State as a whole. Although
some health care organizations that were initially not offering
long-term care are now considering providing this service, the
demand is still not adequately met.
Therefore, since the market is growing, BestCare Long-Term
Care Facility will integrate new approaches into the market as
well as embrace the latest technology to differentiate from new
competitors and become a significant market shareholder.
Typically, the facility will adopt a differentiation marketing
approach by distinguishing its services from rivals in the market
(Kassem & Succar, 2017). It will offer high-quality, speedy, and
2. accurate services that align with client demand. To achieve this,
BestCare Long-Term Care Facility will hire highly trained
nurses and professionals who will ensure that customers receive
services that meet or surpass their expectations. Going forward,
the facility will also ensure that its services are accessible by
opening other branches that are close to clients. It will also
offer options for clients to either receive the services within the
facility or in their homes. This approach will give the hospital
an edge in the market because clients would enjoy receiving
services at their comfort zones which might be less costly
(Coulter et al., 2015). Additionally, BestCare Long-Term Care
Facility will also incorporate the latest technologies like
efficient diagnostic equipment, EMR, and Big Data techniques
that will ensure clients receive high-quality long-term care
services. For instance, Big Data techniques will allow the
facility to predict clients at risk of developing other diseases in
the future, thus take appropriate early response.
Besides, the challenges of the marketplace that BestCare Long-
Term Care Facility will be entering include underserved
population and understaffing. Moreover, to deal with the
underserved population, the facility will provide long-term care
in both the hospital and patients’ homes. It also aims to develop
other branches in the future that will ensure that the high
demand is met adequately (Kanagal, 2015). Besides, to address
the understaffing issue, the facility will start a nursing training
center in the coming years to ensure an adequate supply of
nurses. It will also put in place appropriate motivational
mechanisms to prevent current nurses from shifting to other
professions. Finally, both the local and national markets are
showing positive signs of since aging is an issue that affects the
entire U.S. As such, both markets are expected to record
significant growth in the future.
Environmental Analysis
Since BestCare Long-Term Care Facility will not be operating
3. in a vacuum, there are specific environmental factors that it will
have to consider to achieve the desired success in Tampa Bay,
Florida. Knowing these environmental elements will enhance
effective strategic decision-making processes (Karna et al.,
2016). The unemployment rate in Florida as of March 2019 was
about 3.5% which is relatively low meaning that clients have
enough income to pay for the health care services. The low
unemployment rate will enhance the profitability of the facility.
The interest rate is about 6.57% which is favorable for the
organization’s operations because it will be able to get loans at
reasonable interest for expansion.
Regarding the political environment, Florida State is among the
states in the United States that has a stable political status that
will guarantee a favorable environment for the operations of
BestCare Long-Term Care Facility. The state has implemented
various health policies that will enhance the functioning of the
facility without any political challenges. Besides, the facility
will have to comply with specific regulations to ensure efficient
and effective operations in Florida (Karna et al., 2016). For
instance, it will have to comply with the environmental
protection laws, taxation laws, and equal employment
opportunity laws. Adhering to the established rules will prevent
the organization from confronting with the authorities that
might result in huge entities and fines. Also, failing to observe
these regulations might impact the reputation of the facility
negatively which may, in turn, discourage consumers, thus
reducing profitability and market share. As such, it will be
crucial for BestCare Long-Term Care Facility to comply with
all the necessary laws in Florida to ensure success.
Nevertheless, the cultural environmental aspects will also
impact the operations of BestCare Long-Term Care Facility.
Florida is mostly dominated by English speakers; therefore,
marketing the services of the enterprise will be easy since it
will not be required to prepare adverts in different languages. A
4. large percentage of consumers will understand English adverts.
Also, the largest religion is Christianity; thus, the facility will
only employ marketing approaches that will not contradict with
the beliefs of the Christians. For instance, many Christians do
not support the use of nude photos in advertisements. However,
since there are also other non-Christian religions in the market,
the enterprise will also have to consider the beliefs and norms
of these small groups in the marketing processes to maximize
profitability.
Consumer Analysis
BestCare Long-Term Care Facility targets older adults above
the age of 65 years. The organization decided to focus on this
market segment because most individuals over this particular
age tend to suffer from various chronic illnesses that require
long-term care. Research indicates that the American
population is aging faster which means that the demand for
long-term care will increase as well. Besides, to adequately
meet the needs of consumers better than competitors, BestCare
Long-Term Care Facility will ensure that it offers high-quality
and accessible services both at the facility and homes of
patients. It will also ensure that it has enough nurses that meet
the number of clients. Lastly, the organization will integrate
latest technologies in diagnosing and treatment to make sure
that clients receive better care as well as enable the facility to
gain a competitive edge in the market (Kassem & Succar, 2017).
Besides, BestCare Long-Term Care Facility will employ a
demographic segmentation by concentrating on consumers with
65 years and above because this is the age bracket that
experiences the high need for long-term care, thus will be able
to ensure a good return on investment. In other words, the
organization will receive reasonable profits from this segment.
Finally, in its selling approach, the facility will focus on the
service by making sure that they are of high-quality and meets
consumer needs.
References
5. Coulter, A., Entwistle, V. A., Eccles, A., Ryan, S., Shepperd,
S., & Perera, R. (2015). Personalised care planning for adults
with chronic or long‐term health conditions. Cochrane Database
of Systematic Reviews, (3).
Kanagal, N. B. (2015). Innovation and product innovation in
marketing strategy. Journal of Management and marketing
research, 18, 1-25.
Karna, A., Richter, A., & Riesenkampff, E. (2016). Revisiting
the role of the environment in the capabilities–financial
performance relationship: A meta‐analysis. Strategic
Management Journal, 37(6), 1154-1173.
Kassem, M., & Succar, B. (2017). Macro BIM adoption:
Comparative market analysis. Automation in Construction, 81,
286-299.
Running head: MARKETING PLAN FOR KINGSHIRE
MANOR 1
MARKETING PLAN FOR KINGSHIRE MANOR 4
Marketing Plan For Kingshire Manor
DeMario J. Stackhouse
Trident University International
3 May 2019
6. Organizational Name/Type
The organization selected is the Kingshire Manor Assisted
Living, which provides assisted living services to the senior
citizens living in Rockville, Maryland. The organization also
provides specialized health care services to their residents for
various situations. The average monthly cost of residing in the
facility is $4220 ("Kingshire Manor Assisted Living | Rockville,
MD", 2019).
Historical Background
Kingshire Manor Assisted Living was founded in the year 2000.
Currently, the maximum number of residents allowed is 160.
The founders of the organization had a mission to provide
“above and beyond” care by fostering an environment where
residents felt as if they belonged. ("Kingshire Manor Assisted
Living | Rockville, MD", 2019). Consequently, due to the
facility only being able to house 160 residents, and the demand
for Nursing home services exceeding the capacity, tremendous
opportunities present for the facility to expand either the
facility or add additional facilities. Furthermore, since the
facility provides long term care while making minimal profit,
increased revenue and profit could be the best benefit for the
facility, due to potential expansion.
Geographical Location/Makeup
Kingshire Manor Assisted Living is located at 9701 Medical
Center Drive in Rockville, Maryland. Based on the US
demographics, the population of Rockville is estimated to be
about 66,000 residents. Males account for almost 47% of the
population females account for almost 53%. The total median
household income in the area is $101,000 while the median age
has been documented to be 39 years. 49% of the population are
7. of the Caucasian race. Additionally, minorities make up the
rest, Hispanics account for 15.3%, Asians account for 21% of
the population with blacks accounting for 9% of the population.
Other populations such as Native Americans and mixed races
account for 4.6% of the total population.
Marketing Goals and Objectives:
Kingshire Manor Assisted Living mission statement is “To
provide a safe, nurturing and caring environment to its residents
in a community-style setting that is similar to being in the
comfort of their own home”
Living up to the mission statement, it will be behooving the
brand, to build strategies, that are based off the strengths.
Mission statements are very vital in the determining of a family,
to choose if that facility is suitable in providing the care they
are seeking for their loved one. One objective and goal for this
facility, should be to expand their brand. The average nursing
home facility, houses from 190 – 240 residents. Statistically
speaking, this facility is already below the average. By
expanding their brand, they are capturing all possible residents
that could be housed for the similar needs of the existing
residents. Another major problem that the industry faces
pertains to economic shocks in the market which sometimes
might degrade the net worth of individuals in their care as
shown in the 2008 financial economic crises whereby the wealth
of most of the senior citizens was wiped out and hence most of
them could no longer afford these services.
As such, in order to address the above key issues and be able to
attract new customers, the facility will have to offer the best
rates in the market compared to their competitors. However, the
rates offered should still allow the company to be able to make
a profit and should not in any way compromise the quality of
services offered by the organization (Erol, Amin, Zhou &
Zhang, 2016). Hence, the company should endeavor to meet the
following goals;
· Improve its rating on service quality, which stands at 3.9/5
based on web scores to more than 4.5 in the next one years.
8. · The facility should set up a website in order to be able to
allow their customers to be aware of their rates and also allow
the facility to take into account any customer feedback that
might be given over the site on how the facility can improve or
expand on its range of services to accommodate a bigger
population. Receiving customer feedback is a vital element in
the success of any business.
Closing
In closing, Kingshire Manor is a highly respected healthcare
facility in the Rockville, MD area. As any other facility,
Kingshire has a vast amount of opportunities available, to
enhance their services. Among the marketing plan for this
facility, expansion should be priority. A lot of revenue is
missed, due to the resident capacity being substantially lower
than the average of other facilities, specifically the ones in the
relative geographical area. Until changes are made to enhance
and magnify the potential of this facility, it will remain in its
current state of progress.
References
Erol, B., Amin, M., Zhou, Z., & Zhang, J. (2016, May). Range
Information for reducing Fall False Alarms in Assisted Living.
In 2016 IEEE Radar Conference (RadarConf) (pp. 1-6). IEEE.
Han, K., Trinkoff, A. M., Storr, C. L., Lerner, N., & Yang, B.
K. (2017). Variation across US Assisted Living Facilities:
Admissions, Resident Care Needs, and Staffing. Journal of
Nursing Scholarship, 49(1), 24-32.
Kingshire Manor Assisted Living | Rockville, MD. (2019).
Retrieved from https://seniorcarehomes.com/assisted-living-
facilities/maryland/rockville/kingshire-manor-assisted-living/
Matthews, M., Peters, C., & Lawson, S. (2017). An Exploratory
Investigation of Hospice Marketing: How are Palliative Care
9. Providers Marketing their Services? Health Marketing
Quarterly, 34(1), 48-61.
Rockville, MD. (2019). Retrieved from
https://datausa.io/profile/geo/rockville-md/#intro
Running Head: SLP 3: SWOT ANALYSIS
1
SLP 3: SWOT ANALYSIS
4
SLP 3: SWOT Analysis
DeMario J. Stackhouse
Trident University International
9 June 2019
SWOT Analysis of BestCare Long-Term Care Facility
SWOT Diagram
Strengths
High service quality
Cost effectiveness
Sufficient staff
Innovativeness
Strong leadership
Weaknesses
Inefficient operations management
Logistical problems
Inexperienced in promotion
10. Inexperienced management
Opportunities
Innovativeness
Technology advancement
Growing market
Threats
Competition
Changing government regulations
Strengths
High service quality
BestCare Long-Term Care Facility is an organization that
believes in providing its clients with high-quality services by
ensuring that they receive proper long-term care. As such, the
enterprise intends to extend this value to Florida. It has
professional physicians and nurses that would make sure that
customers receive high-quality services (Kassem & Succar,
2017). It has also established quality management and assurance
frameworks that will ensure that the service provided is up to
the set global standards.
Cost-effectiveness
The organization uses a differentiation approach which will
enable it to check on its costs in the provision of long-term care
services. In other words, the enterprise will minimize its overall
costs while maximizing customer satisfaction through high-
quality services. Besides, to continue enjoying this particular
strength, the facility will have to keep integrating strategies
such as lean concepts to minimize expenses and maximize value
to clients (Baker, 2014).
11. Sufficient staff
Unlike other long-term care facilities in Florida, BestCare has
an adequate number of nurses that will make sure the needs of
consumers are adequately addressed. Moreover, the facility will
have to make an agreement with a nursing college or institution
so that to avoid experiencing shortages or nursing professionals.
Ensuring proper motivation will also encourage existing nurses
from quitting or shifting to other facilities.
Innovativeness
The facility embraces innovation in its operations to ensure that
clients receive better care, and the organization can also meet
its objectives efficiently. It has an active research and
development team that usually come up with new ideas and
concepts to enable the facility to serve its customers
appropriately. Besides, the enterprise will have to continue
supporting the research team to maintain or improve its
innovativeness in the future.
Strong leadership
At the senior level, the facility has experienced leaders who
ensure that the organization sails in the right direction at all
times. The effective administration enhances the stability of the
enterprise, thus a guarantee that it would be able to succeed in
the dynamic business environment. Besides, the facility will
need to have a proper leadership successive plan to ensure
continuous stability at the top level and the organization as a
whole (Kassem & Succar, 2017).
Weaknesses
Inefficient operations management
Despite having effective leadership, BestCare Long-term Care
Facility has an ineffective operations management framework to
achieve its goals effectively. It does not have a current
12. operations management department to guide its activities which
is likely to pose significant challenges in the new market. The
hospital will need to introduce the operations management
department to increase its efficiency and effectiveness
Logistical problems
The facility will engage in providing services to some clients
from their homes which means that nurses and physicians will
have to move from one place to another. However, the
organization does not have an effective logistical network
already established in Florida. Having an active system through
collaborating with the locals can be an appropriate solution to
this weakness.
Inexperience in promotion
The facility has limited experience in marketing and advertising
of a new service in the market, and rivals are likely to take
advantage of this weakness. The enterprise will have to work
with marketing agencies in Florida to market its service to
increase market acceptance.
Inexperienced management
Compared to market rivals, BestCare has inexperienced leaders
with little information about consumers and other dynamics of
the market. As such, the facility can consider hiring two or
three experienced managers who would facilitate its success in
Florida.
Opportunities
Innovativeness
The facility’s focus on consistent innovation is likely to
increase the chances of success of BestCare Long-Term Care
Facility. The enterprise would likely to come up with new ideas
13. and concepts that would increase its competitiveness in the
industry (Kanagal, 2015).
Technology advancements
The development of technology such as EMR and Big Data will
likely to give the facility significant opportunities for success.
The organization will integrate the latest technologies which
will enhance its operations and overall growth.
Growing market
The number of older adults is increasing in Florida and the U.S.
as a whole, thus providing sufficient demand for the service of
BestCare.
Threats
Competition
BestCare is likely to face market rivalry from both the existing
and emerging enterprises that will reduce its profitability and
market share. The organization will have to integrate active
promotional campaigns to try to beat the competition.
Changing government regulations
The state is also likely to implement health policies in the
future that might impact the operations of BestCare Long-Term
Care Facility adversely. The hospital has to prepare adequately
for such changes in policies.
References
Baker, M. J. (2014). Marketing strategy and management.
Macmillan International Higher Education.
Kanagal, N. B. (2015). Innovation and product innovation in
14. marketing strategy. Journal of Management and marketing
research, 18, 1-25.
Kassem, M., & Succar, B. (2017). Macro BIM adoption:
Comparative market analysis. Automation in Construction, 81,
286-299.