You are in charge of marketing your companys laboratory serv

You are in charge of marketing your company’s laboratory services to managed care plans in your region. Contrast approaches to promoting these products to a PPO and to a staff model HMO.

Solution

After the development of products it is necessary for an organization to promote its products to increase sales. Depending on the type of market thee are different approaches that can be used to reach prospective customers. Any organization be it a new entry into the market or an already established one, there must be a way of informing prospective customers on the existence of a product and its quality. In business, there are several approaches that can be applied to market a product including, affiliate marketing, email capture and lead nurturing, strategic partnerships, leverage influencers and relentless conversion rate optimization.

In this writing only three of the strategies will be discussed. Using strategic partnerships, email capture and lead nurturing, and leverage influencers, the company might achieve great sales within a short time. The strategy for developing either of the approaches stated above will be discussed. When looking at strategic partnerships there are stages towards achieving reliable partners who will help in promotion of the medical laboratory services. Strategic partnerships come in after a company has grown and established. However entry organizations might also apply this approach. In this approach, a company partners with a company that has to offer similar but not overlapping services. As such, they will have ready customers in instances of complementary goods. For instance, in this case the company needs to partner with insurance companies. As such they will be able to create opportunities as the insurance companies need laboratory testing services and even for treatment.

Another approach is the email capture and nurturing. This can be made use of where a lot of people have to be reached. It also allows detailed coverage of the content description. In this approach, the organization should invest in this mode of promotion. Use of more segmentation and action triggers creates drip campaigns through emails and driving in more sales. The organization will also be able to reinforce its brand of services, for this case medical services and also capturing prospective buyers of the service. It is one of the approaches any organization should implement.

Thirdly, through leverage influencers, the company can achieve great goals. Here, this is meant to reach a large following in the shortest time possible. It can be done through a celebrity who might enjoy the services hence promoting the products. As such, the celebrity is the influencer and can drive a lot of followers and users of the service.

This company will use the strategic partnership approach. As such it will be partnering with other related organizations and the insurance companies. It can be achieved through the outlined stages discussed. First the company should be certain of the future goals of both business partners. How the companies can leverage the strength of each other is also covered, hence setting up a good business foundation. As it is an agreement it should be well documented and signed, and several copies of the agreement should be kept. After which, both the two parties collaborate to come up with a common business plan. Engagement should be also high especially by the senior executives who will act us the driving force for the set goals. Compatibility of interoperability of the goods and services must also be communicated. Information should also be made clear of the partnership. This will be one way of promoting the products or services. Achievements must also be rewarded for those who will help make it a success. Proper governance of the partnership must also be embraced so as to ensure maximum sales and proper management of the resources.