Market Segmentation, Positioning and Pricing Strategy
Leveraging market dynamics for small-town hospitals to define marketing strategy
To consolidate its existing hospital network, Vaatsalya engaged us to recommend marketing strategy to drive the organization’s revenue and profitability.
We visited three of their representative hospitals to develop a comprehensive understanding of customer profile, competitive landscape and patient satisfaction levels. Based on our analysis of their earlier marketing interventions and the nuances of the decision making process of the relevant target audience in tier-2 towns, we made recommendations essentially in product and pricing strategy to reinforce Vaatsalya’s USPs. We also shared actionable insights about communication strategy and levers to enhance overall patient experience. Finally, a CRM strategy to tap word of mouth potential from existing customers was recommended as an inexpensive, yet high-impact, initiative.
Some of our recommendations were implemented on priority, which led to substantial increase in occupancy and per bed revenue realization across the hospital network.