Reference no: EM131672000

Four P's of Marketing

According to Exercise Science Guide staff, "Self-marketing is the key to career advancement in today's competitive job market" (para. 1). The four P's of marketing are product, price, place, promotion. These are essential elements of any businesses marketing plan to include medical practices (Clinical Spectrum, 2015).

Assurance of good care or clinical decision making is the product for healthcare systems. The price is the amount paid for the product or services rendered. Price is more controlled by insurance companies in the healthcare industry and is not a competitive advantage in a medical practice marketing mix. Although finding ways to provide the best care at the lowest price will make a clinic or provider stand out.

Many providers offer simple tests, such as blood pressure checks, cholesterol checks, and HIV tests, and no cost or reduced prices to raise awareness of their services (Hanks, 2017). Place or product distribution is the location where the service is received. Hospitals or clinics for example should be easily accessible. Vital services must be available to patient to be effective while setting themselves apart from competitors.

Examples include offering same-day services or walk-ins. The fourth is promotion to include delivery of good healthcare service and clinical decision making for the patients. This is achievable by providing excellent communication to accessible and accountable quality care that is vital and desirable by patients to choose to use this medical establishment. The healthcare marketplace has seen both increased competition and advanced technology complicate the landscape (Hanks, 2017). There are more options available today than ever before when seeking healthcare.

Community involvement is a way a practice can promote their services to reach more individuals in need. As an advanced practice nurse, I want to make sure the patient is happy with the care and service they received in hopes to improve quality of life. The goal being the patient continues to receive care and return to the location of services as well as recommending the services to others. APN's must offer the best patient experience to set them apart from other providers or practices.