Define marketing and describe why it is important for healthcare managers to understand the key components of the marketing concept.

assignment: healthcare marketing and quality

Marketing is the process of creating, promoting, and distributing products or services to a target audience. It involves four key components: product, price, place (distribution) and promotion. Healthcare managers must understand these components in order to effectively meet customer needs and ensure that their organization’s products or services are competitively priced and available at the right outlets. Managing the distribution channels for healthcare can be challenging because of regulations surrounding certain types of products or services in particular markets; understanding how each component fits into the overall marketing plan is essential for success. Additionally, understanding these components helps healthcare managers better understand customer preferences and tailor their strategies to maximize profits while still providing quality care.