mkt402/phi210 week 8 discussion AND responses Business Finance Assignment Help

Develop a marketing business plan for a healthcare organization of your choice (either for-profit or non-profit HCO) where you choose a new product or service to market for a specific target market.

Your Marketing Plan should have the following components:

Table of Contents

Phase One

• Executive Summary,

Phase Two

Company Profile,

Industry Overview,

Phase Three

Service Overview,

Competitive Analysis,

Marketing Mix-Promotional Strategy,

Marketing Mix-Place,

Marketing Mix-Pricing

Phase Four

Service Delivery Plan

Human Resources Plan,

Phase Five

• Financial Statements: Balance Sheet and Income Statements

Requirements:

1.Prepare the project in APA-style, double-spaced with 1-inch margins and 12-point Times New Roman font. Select “bold” font for headings and sub-headings and use as many as necessary. Submit your marketing business plan in word document. An APA-formatted title page, and reference pages are required. All elements of the project must conform to style requirements of the Publication Manual of the American Psychological Association, Sixth Edition (commonly

called the APA style manual, 6th edition). APA resources can be found on the PBSC library

website: http://palmbeachstate.libguides.com/c.php?g=313291… 3. Be creative by incorporating graphics, pictures, graphs, charts, etc.

Getting Started – Health Care Organization Selection

Select a Not-for-profit or For-profit Health Care Organization for your Health Care Marketing Business Plan. The chosen health care organization will either market a new product or service to a specific target market. You are responsible for constructing the business plan for the new product or service for the HCO.

Once you have chosen the type of HCO you will market for, then comes the decision of whether you want to market a new product or service.

Try to make the product or service as original as possible.
Submit HCO selection and new product/service idea in Blackboard for approval.Phase I: Executive Summary

I. Executive Summary

a summary of the planning issue , which includes a new product, new service opportunity, or process improvement issue.

A future –oriented, two page document demonstrating knowledge of the issue and provides the prospective value

What to include in the Executive Summary:

1.An introduction to your business plan which involves a discussion of the new serviceopportunity, cost saving measure, or process improvement.

2.Marketing Highlights

a.Make a list of the distinctive features by answering these questions:

i.What is the real value regardless of the type of project?

ii.What will the product/service save the organization in dollars? (estimated guess, doesn’t have to be accurate)

b.Ex: What savings or profits will it generate by improving efficiency? Or what saving or profits will it generate by developing a new service? Or what will it bring by bringing in paying patients or no-show patients?

3.Targeting Market Summary: Answer the following questions:

§Who is your target market?

§Who benefits from this plan?

§Is the market internal, external, or both?

4.Competitive Analysis (if a new service opportunity)

§Who else is doing it?

§Provide a competitive analysis

1.Key Marketing Strategies –

oWhat key marketing strategies will you use?

oHow will you get compliance of patients, staff, the board, or referral services?

2.Operational Highlights

• Are there any critical legal or regulatory constraints?. Intermediary Concerns or Issues

• Are there any noteworthy issues with referrals or other entities? Grading Rubric

Executive Summary (2 pages) – 80 points

Marketing Highlights

Targeting Market Summary

Competitive Analysis

Key Marketing Strategies

Operational Highlights

Intermediary ConcernsAPA Format, Use of References – 15 points Grammar, Spelling, Punctuation – 5 pointsPhase II: Company Profile and Industry Overview

I. Company Profile

This is an overview of your organization including who is involved and the scope of what the company does.

Type of Organization

Name of Organization

Hours of Operation

Scope of Service Line

Clients Served

Location of clinics/services

Description of Business

II. Industry Overview

this is an analysis of the industry and economy in which the organization operates

it demonstrated a current understanding of industry characteristics and trends

a trend is a definite, predictable direction of events

Conduct this type of research using secondary data sourcesSee the below areas that should be covered in the industry overview and the chapters where you can review the subjects:

Overall Business or Client Trends and Opportunities

1.Social changes – Chapter 3

2.Economic reimbursement changes – Chapter 3

3.Demographic changes – Chapter 3

4.Health care delivery changes – Chapter 3

5.Regulatory/political changes – Chapter 3

6.Key success factors in your segment of the industry – Chapter 3

7.Barriers to entry in your segment of the industry – Chapter 2

8.Barriers to exist in your segment of the industry – Chapter 2

Grading Rubric

Organizational Profile – 20 points
Industry Overview – 60 points
APA Format, Use of References – 15 points Grammar, Spelling, Punctuation – 5 points

Phase III: Service Overview, Competitive Analysis, Marketing Mix

I. Service Overview

This service describes the new service-the benefits and features that you are providing and to whom.

It is important to recognize that the benefits may way from customer to customer. Patients may see one value or benefit such as timely clinical intervention, whereas the referral sources may see a different benefit, such as having the patient under supervised care within 3 hours of a call, or medical group may see a different benefit having a competitive value with which to better negotiate contracts.

What is the proposed new service/product unique features and benefits?

What values does it provide to the key target market?

What are the benefits of this new service/product?

How is this new service/product against existing services and products offered by others?

What are you doing differently?

1.Target Market

oUnderstand your customers (be they patients, family members, judges, third-party payers, employers, o the government)

oHow is the market segmented? Who in the group is involved in the buying decision?

2.Competitive Analysis

The competitive analysis is a thorough analysis of both direct and indirect competitors. It identifies strengths and weaknesses of competitors. Indirect competitors may not provide the same service, but they may be competing for the same dollars.

Describe your competition’s service

What is/are their point(s) of differentiation?

What real value do they deliver to the customer that others do not?

What is their marketing/advertising approach?

What are the opportunities or threats to your organization?

1.Marketing Mix-Promotional Strategy

oWhat are the key messages you want to convey in your marketing materials about your organization?

oHow are you positioning your service/organization?

oWhat mix of vehicles will you use?

oWhat are the objectives?

2.Marketing Mix-Place

V.

Where will the service/product be delivered (location, hours, technology utilized)?

What are the costs associated with this manner of distribution?

What is the marketing importance/advantage of the location?

Does the location/distribution approach provide any competitive advantages? Marketing Mix-Pricing

oLabor costs of FTEs (full time employees)

oOverhead costs?

oMargin costs?Other Pricing considerations:

§Customer perception of value

§Will there be discounting?

§What type of pricing strategies will you use?

Refer to Chapter 9 – Price

Grading Rubric

Service Overview – 80 points

Target Market

Competitive Analysis

Marketing Mix-Promotional Strategy

Marketing Mix-Place

Marketing Mix-PricingAPA Format, Use of References – 15 points

Grammar, Spelling, Punctuation – 5 points

Phase IV: Service Delivery Plan and Human Resources Plan

1. Service Delivery Plan

Outlines the method by which your service will be delivered to clients or customers

It is a statement of what resources are needed in terms of both personnel and other assets to bedelivered.

Outlines the critical points in the clinical service delivery process§ What to Include
§ Service delivery methodology: what methods will your organization use to deliverservices-this can be an outline
§ Flow Chart of delivery service, delivery sequence, and timing requirements§ Human Resources
1.Organizational Structure/staffing Plan§ Clinical (full time vs. part time)§ Non-clinical (full time vs. part time) 2. Compensation§ Rate
§ Benefits
§ Job descriptions-brief
§ Roles and responsibilities-brief descriptionGrading RubricService delivery methodology – 25 points Flow chart of delivery service- 25 points Human Resources – 30 points
APA Format, Use of References – 15 points Grammar, Spelling, Punctuation – 5 pointsPhase V: Financial Statements, Balance Sheet and Income StatementThe balance sheet shows the financial picture of a business at a given point in time. It is what the organization owns versus what they owe.The income statement shows the profit (or revenue-positive position) versus the loss of an organization over time.

For this phase, utilize Merrill Lynch’s handout on reading financial statements.

1.Using one year of the balance sheet, determine the organization’s liquidity through the current ratioand debt-to-equity ratio. Use the table below and answer the questions.

a.What is the current ratio? Do you have enough current assets to meet your current liabilities? Explain. (Refer to page 23 of the Merrill Lynch handout)

b.What is their debt-to-equity ratio? Total liabilities/total shareholder equity =

2.Using one year of the income statement, determine the organization’s profitability or fund balance perspective through operating margin and net profit ratio. Use the table below and analyze the both the operating margin and net profit ratio. Refer to page 31. Of the Merrill Lynch handout/link.§ Operating Margin = Operating Income/net sales § Net Profit Margin= Net Income/net sales

Grading Rubric

Balance Sheet – 40 points
Income Statement – 40 points
APA Format, Use of References – 15 points Grammar, Spelling, Punctuation – 5 points

Final Health Care Marketing Business Plan

Complete and submit the final business plan with revisions (revised Phases I-V). See grading rubric.

Grading Rubric

Left Side	Right Side
Current Assets ________	Current Liabilities _________
Fixed Assets _________	Long-Term Liabilities______
Other Assets __________	Shareholder Equity ________

CRITERIA	EXPERT	PROFICIENCY	COMPETENT	NOVICE
Content 50 points	50 points The research is clear, well stated, and supported with the appropriate facts.	40 points The research could be stronger, weakly stated, but supported with	30 points Research is strong but not supported with the appropriate facts.	20 points The research is supported with opinion and not facts.

		the appropriate facts.
APA Formatting 20 points	20 points Information is very well organized, subheadings, well-constructed paragraphs, title page, in-text citation, in APA format.	15 points Information is organized, subheadings with well- constructed paragraphs, with title page, in- text citation and APA format.	10points Information is organized but paragraphs not well constructed, with a few errors with APA formatted in- text citations, title page, and subheadings	0 points Information is disorganized, with incomplete APA formatting.
Reference /Quality and Sources 15 points	15 points Five or more credible sources are used that are cited and relevant to the paper’s topic.	12 points Three to four credible sources are used that are cited and relevant to the paper’s topic.	9points One to Two credible sources are used that are cited and relevant to the paper’s topic.	0 points No credible sources, sources are not cited or relevant to the paper’s topic.
Grammar/Spelling/ Punctuation 15 points	15 points No grammatical, spelling, or punctuation errors.	12 points Almost no grammatical, spelling, punctuation errors.	9 points A few grammatical spelling, or punctuation errors

Read and produce a typed one-to-two page summary of the article cited below in MLA format. A sample summary is included in the folder called Sample Summaries. You may quote from the article’s abstract, if available, as long as you use quotation conventions correctly. Indicate clearly the article’s thesis or controlling idea, and emphasize elements pertaining to definitions of the double or the archetype of the “doppelgänger.” Conclude your summary with a full citation in MLA format. The article in this exercise is available as a full-text download from Academic OneFile. Do not plagiarize !

Bayes’s Theory shows that the probability that A will occur if B occurs will generally differ from the
probability that B will occur if A occurs. (Mlodinow, page 117).
Complete the following assignment:
After reading chapter 6 in The Drunkard’s Walk, re‐read the first paragraph on page 117, then show how
“one can use Bayes’s methods to determine that a positive mammogram is due to cancer in only about
9 per cent of the cases.” Write the solution to the problem with words (use math and explain it in
words), then upload your solution to the appropriate link on Moodle. A complete solution will include a
thorough explanation of the appropriate sample space.

• You need to submit a report file describing the actions/steps you have taken to manage and monitor your project(if you are doing your calculations in an Excel file, it would be nice to send the Excel file as well).
• I do not like to assess your reports based on its length! The more is not the better, but please try to write at least 2000 words in your report.
• Your WBS should contain about 15 to 20 activities.

You could start with an introduction, then describing your project. project scope, developing the WBS, time and cost estimation, determining the relationships and developing the project network, resource planning, resource scheduling, Resource leveling, etc.)).Then, you can start implementing your project (hypothetically), and then you can provide the measurement (PV, EV, CV, SV, CVI, SPI, EAC, VAC, etc.) and compare your performance with the plan.

Briefly: after introducing your project, your project scope, your project preferences, …, you have to break down your work into 15-20 activities. Then you can apply some of the techniques to design your network. Then, I expect you to calculate the project performance measurements. Then, your analysis of the measurements is required.

course name: Business Engineering