Marketing Plan for the Waterbury Hospital

Marketing Plan for Waterbury Hospital
Student’s Name
Institutional Affiliation

Marketing Plan for Waterbury Hospital
The healthcare industry is highly competitive. There exist few barriers to entry into the industry, and hence the threat of new entrants is always high. As more healthcare providers rise, the bargaining power of the customers also increases. To maximize the number of patients, hospitals must adopt various marketing strategies. This paper seeks to look at some of the strategies that Waterbury Hospital can adopt to beat off competition from rivals such as Griffin hospital and Value Care Alliance. Other than increasing the number of patients visiting the hospital, there is a need to come up with strategies to improve the relationship between the hospital and other players in the industry such as ambulance companies. This is particularly important since the hospital lacks its own ambulance services and, hence, the patient’s face transportation problems.
Expansion of Services
Previous studies showed that Waterbury Hospital specializes in diabetes and endocrinology. While the hospital might have attracted many patients seeking these services, there is a need to attract more patients to remain competitive. This can easily be achieved by offering more services at the hospital. This can be supported by the strong workforce that the hospital already has. There is a need to pay attention to shifting demographics of the community and the population in general. As the baby boomers age, the occurrence of various communicable diseases will rise. The hospital should consider positioning itself as a center of excellence in the related services. Moreover, to cater to the entire population, the hospital should establish a dedicated pediatric center (RCM, 2016).
Engage in Social Activities
Across the world, organizations in different industries are embracing corporate social responsibility as a way of establishing a competitive advantage (Drews, 2010). It is a strategy that Waterbury Hospital can effectively use to maximize the number of patients. This can be achieved through activities such as taking part in charitable causes within the community. This has the potential to boost the image of the hospital to the larger community.