Nishtha answered on
Aug 06 2021
Running Head: MARKETING PLAN OF IVF AUSTRALIA 1
MARKETING PLAN OF IVF AUSTRALIA 4
MARKETING PLAN OF IVF AUSTRALIA
Table of Contents
Relevance of the Marketing Plan to the Issues of the Company 3
Plan of Action 4
Steps of the Plan 5
Value Proportion of IVF Australia 5
Critical Evaluation of the overall situation of IVF Australia 6
Suggesting a Suitable Marketing Mix Strategy 6
Distribution Strategies and Promotional Mix Strategy 11
Relevance of the Marketing Plan to the Issues of the Company
Building of marketing strategy for IVF is actually a bit more complex than the any other marketing strategy for any organisation. In this report, there are specific marketing strategies for IVF Australia.
The main issue faced by IVF Australia is that this healthcare segment has very niche market, though the infertility rate between couple rises by the passing years but there are still ba
iers such as people’s lack of knowledge, insufficient information and cost of the treatment.
There is a need to make strategic marketing plan that helps to generate core value and enhance the trust of the couple on IVF Australia. The promotion of the medical health care services divided into two sub areas that are traditional or offline and the online mode of promotion. Although the company should focus more on online promotional ways as it is a sensitive matter and there is a high possibility that customer can share their problems better on online mode communication, therefore, IVF Australia may need personalised approach in order to know requirement of the customer, it is one of the issues of the IVF marketing plan.
The last issue in front of IVF Australia is that before reaching any healthcare marketing campaign in Australia, company has to understand the consumer behaviour and predict where audience goes in order to learn about the
and is still a challenge for the IVF Australia.
The objective of IVF marketing plan is to increase the number of patients and elucidate on different topic that related to the infertility. It is a popular fertility treatment in Australia and even main source of revenue of almost all fertility treatment. The objective of this marketing plan is to help IVF to generate more customers in Australia as well as across countries.
The entire medical system majorly depends upon the working of insurance company. IVF Australia may offer product to the patient, however organisation cannot ensure if the insurance company can pay for it. There is high interdependence IVF Australia on other segments of market.
Plan of Action
After the SWOT and the market analysis of the healthcare and infertility industry, it could be identified that the company intends to use various marketing strategy that helps IVF Australia to target women, men and families in the targeted market. These marketing strategies include both online and offline mode of activities such as print advertisements on newspaper and use of search engine on the internet.
Internet based strategy plays important role as a promotional tool. It is important to note that before adopting for IVF treatment, many people seek for the help of local services such as consultancy of local doctors or searching information on internet. This creates opportunity for the IVF Australia to target co
ect customer or potential customers. With the help of the internet or digital tool, IVF would be able to do preliminary research, all organisation has to do is to make online portal.
The online and offline promotional activities will be done by marketing team of the IVF Australia, they are responsible to create value in the market and attract potential customer by various means of promotion. Other important aspect, which is related to the promotion of the IVF services, is the insurance sector, the company pays fix amount to each procedure (in network or out network).
IVF Australia may also target various insurance company collaborate with them. It will be the win-win situation for both insurance company and IVF Australia. Action plan also includes email campaigning, the reason behind this is not to pressurise the customers to take services. The cost require to execute the marketing plan would be $ 7500. The duration of the marketing plan will be 9 month.
Steps of the Plan
Like other marketing plan, assessing where the organisation is, what is missing and what are its strategy to move forward systematically is the key to success. As stated by Rawlings, Ding and Robson (2017), the primary step is to define the cu
ent market situation of IVF Australia, how company is going to get new patients. Second step is what really matters in IVF strategy, only 3% people from the target market are ready to take services from the IVF Australia.
Hence, it is important that organisation targets and focus on only those 3 % people. Third, is building value to the customer by providing them useful content and understanding their needs. Last is to track own performance. It is important for the organisation to track its performance when initiating any campaign in order to know how to improve it over time.
Value Proportion of IVF Australia
The foundation of the IVF Australia marketing strategy is the build the value for its customers. Value can be built only when organisation can provides the...