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Essay / Research Paper Abstract
This 8 page paper looks at marketing concepts and applies them to the healthcare environment, looking at the way target markets are chosen and how branding takes place. The concepts are applied to Benadryl with the marketing of the brand discussed and improvements suggested. The bibliography cites 7 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TEbenmark.doc
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Unformatted sample text from the term paper:
market 4 2. Branding 5 a. What is a brand? 5 b. Why is branding important 5 c. Current Healthcare Brand 6 i. Images of the brand 7 ii. Appeal 8 iii. Success 8 iv. Changes to marketing 9 References 9
1. Target Market a. What is a target market? The basic definition of a target market is the particular segment or segments of entire market that the company wishes to target
for sales for a particular product/brand. The target market can then be defined with reference to the consumers that make purchases within that segment (Kotler and Keller, 2008). There
are different ways in which a target market may be identified. The target market is identified by segmenting. Segmenting is the division of the consumer base, or potential consumer base
into categories where there are similar characteristics. There are a number of ways a market can be segmented. Traditional methods of segmentation may included demographics dividing the market by characteristics
such as age, gender or ethic background (Hooley et al, 2007). Other psychical attributes may be used, such as geographical location or even characteristics such as weight, hair colour
or even those with poor eyesight (Hooley et al, 2007). The market may also be divided into the way that the product will be used. The firm will choose
a target market by looking at the potential segments which the product will satisfy and assessing which of the segments is likely to result in the desired level of sales.
For many firms this may be the segment where the largest amount of sales will be realised, but for exclusive items this may needs to be the most profitable rather
than largest. The firm may have a target market that is made up of more than one segment, or group of consumers. b. What is the target market of
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