Mayo Clinic Case Study
Word of mouth marketing has been our strongest ally and serves as a very powerful tool. In order to create a cohesive marketing research design strategy this memorandum will outline specific key tactics that must be employed. The Mayo Clinic’s CEO and board have decided to increase sales revenues to 100 percent over the next five years and that means we have much work globally to do in order to make that a reality. There will be many facets of the marketing mix that will need to be addressed in order to achieve this goal.
The purpose of this marketing research is to gather information about the brand recognition, reputation, and appeal of the Mayo Clinic globally. As a brand we must exude qualities that will appeal to people internationally. There are several fundamental facts that describe why someone should chose the Mayo Clinic. The Mayo Clinic offers over 100 years of medical tertiary and quaternary care from civilians to world leaders. The Mayo Clinic was founded by globetrotting specialized physicians who were looking to establish an advanced standard of medical care by consulting with other physicians internationally.
Mayo Clinic Case Study Essay Example
The Mayo Clinic is focused on delivering exceptional care that knows no borders. We also need to establish and position our strongest attribute in the global markets as being the experience one encounters here at The Mayo Clinic. Our brand is based on knowledge and superior care. Through explanations, listening, interpretation, multi-lingual, and listening to the consumers is what the experience here at The Mayo Clinic entails. In order to improve our sales so exceptionally in five years we must utilize specific market research strategies.
We must continue to monitor patient satisfaction with studies to assess the perception of the care received. When surveying patients a high level of attention to detail should be maintained. International data collection can offer many challenges and thus the quality and structure of our satisfaction surveys must be markedly superior to ensure reliable information is returned. Word of mouth marketing has been an asset and that penetrates all cultures. Our cultural adaptability must remain a focus while conducting marketing research.
The ultimate goal is to be THE choice of medical care internationally. Formal focus groups are useful in collection of in-depth information. We can learn how well the clinic is known in a specific region and how people are influenced to choose The Mayo Clinic. Health insurance that includes our care as part of their policy does not innately encourage a patient to choose us, in fact one of our studies proved that some insurance holders who had The Mayo Clinic as an included resource had no knowledge of the clinic.
Face-to-face interviews with health insurance policy holders revealed the aforementioned. Telephone interviews are effective in certain countries and discounted in others, please refer to our marketing research by region listing to determine if this method is the right choice for the location you will be researching. Clinical trials and sponsorships like fundraising walks can prove to be important marketing research tools. Some things to keep in mind when conducting strategic marketing research include cultural influences, geographic location, and current awareness of the brand.
We must chose to conduct research in markets that have potential to supply patients that would benefit from services of our clinic. In this way observational research can be a tool within a tool, we can observe before we decide what method that particular market best will respond to. After identifying the market to be researched you must obtain the trust of the people you will be interacting with and communicate the advantages that The Mayo Clinic provides.
Extensive research using both primary and secondary methods in target markets allow a better understanding and more reliable data to be extracted and analyzed. Generally we will conduct research both through vendors and ourselves, this is a combination of primary and secondary methods though primary research will prove more investigative and tailored to fit our needs. A mix of qualitative and quantitative data will be collected. To review the strategy as discussed in the meeting we will identify largest potential markets for international healthcare and target those markets for research.
Next we must identify the most effective means of communication of the benefits our clinic offers in that area. When conducting secondary research choose reputable reports. When conducting primary research gain the trust of the community and conduct interviews and create focus groups. Finally our joint effort if done effectively will increase sales revenue as desired. Please promptly review this memo and your notes from our meeting and employ learned tactics.