Question & Answer: What are the market overview portions for a marketing plan to address the situation…..

Market overview :

The marketing managers should try to view the whole market with strategic business factors. For example: The competitive environment in the country as there are many organizations providing health care services for the customers. These may be for profit , non-profit, governmental and professional medical center etc. An organization must go for industry analysis of Michael E. Porter, in this forces may be assessed in the range of high , medium and low. These forces are threat of new entrants, rivalry among firms, bargaining power of buyers , threats of substitutes, and bargaining of suppliers. It will give the clear cut market analysis of the current health care industry.

Apart from this SWOT analysis must be done. Also , companies should access data related to population, income levels , top consumer markets, consumer’s expectations, trends in the marketplace and number of customers in the particular industry. Market share must be analyzed for the current health care services providers. Major health care needs and preferences must be analyzed.