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Question: Examining Market Research Strategies
For this discussion, you will examine market research strategies and how the information gleaned can be applied to the Marketing Mix section of your Final Project. Services offered by healthcare organizations are becoming increasingly diversified regarding services offered. With this said, health care organizations rely on market research to determine their best course of action regarding time and financial investment.
After reading Chapter 6 and watching the Alanis Business Academy's YouTube video, describe the information that can be derived from each of the four quadrants in the Boston Consulting Group matrix. Additionally, describe the validity and applicability of implanting the Boston Consulting Group matrix for your chosen healthcare organization's marketing plan. Based on the information that can be gleaned (market growth rate by the relative market share) regarding the healthcare organization you have chosen for your Final Project, how could the information be applied to improve marketing decision-making processes?
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