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Overview Of Honnutti Home Care

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Organizations are establishing themselves in a new market to provide a needed service, increase customers and expand brand awareness. An organization’s growth strategy plays a vital role in the long-term sustainability of its healthcare system. Market penetration comes with the benefit of reaching additional customers in a business’s primary market and the potential to increase revenue. A marketing plan enables an organization to apply its values, mission, and capabilities to increase its sales, reach its objectives and sustain a competitive advantage with the purpose of improving its market shares (Cellucci, Wiggins & Farnsworth,2013). A company’s strategic plan will support and maintain its long-term growth objectives by building a solid …show more content…

Identifying stakeholders can be done by defining the organization’s essential market segmentation. Market segmentation is done by grouping stakeholders together who have similar needs or wants (Walston,2014). Honnutti Home Healthcare (HHH) after capturing the stakeholders in its key market segments can begin the process of building a platform for growth. The insight gained from stakeholders can be valuable in an organization’s strategic planning. Honnutti Home Healthcare will need to coordinate with its stakeholders to ensure the success of its expansion. Honnutti Home Healthcare stakeholders include its employees, patients, physicians, shareholders, regulatory agencies, owners, suppliers and community members. Honnutti Home Healthcare should make sure its stakeholders should know what the strategic plan is, what role they play in it and how they contribute to its mission. Sharon can evaluate Honnutti Home Healthcare stockholders further by dividing them into the following four categories of consumer market segmentation; geographic, demographic, psychographic and behavioral segmentation. Engaging stakeholders in the planning process helps build ownership within the …show more content…

Identifying external factors such as the threat of new competition in the market, the availability of substitutes for the consumer’s needs (i.e., independent physical therapist, chiropractor); bargaining power of suppliers; and rivalry among competing for service lines. The external data that Sharon obtains will enable her to plan a marketing strategy that will distinguish Honnutti Home Healthcare from other competitors by highlighting the facility’s high patient satisfaction scores and secure referral sources. Also with the information gathered Sharon would also be able to implement strategic initiatives to increase her bargaining power among suppliers and vendor in the area. The internal and external data collected will allow the organization to perform an S.W.O.T. analysis which will identify the organization’s Strengths, Weaknesses, Opportunities, and Threats from which the growth and expansion strategy can be created, implemented and monitored

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