Market Analysis Informs Expansion & Positioning Strategies
Situation:
A small hospital system wanted to expand their reach into new geographic regions. They needed to find out which areas would be the most economically & politically friendly. Additionally, they had just acquired a hospital in another state and wanted to update its brand positioning to better compete in the market.
Solution:
Research regarding previously offered tax abatement packages and economic incentives within the target regions was conducted. Additional research was compiled regarding the states’ previous Certificate of Need (CON) decisions.
To gain a clearer picture of the newly-acquired hospital’s market, their top three competitors’ marketing efforts were analyzed. In addition, interviews with 15 of the hospital’s former patients and 10 local physicians were conducted to gain insights into how the hospital and its competitors were perceived.
Results:
- The hospital system focused its expansion effort in the region that offered the best economic incentives.
- New brand messaging was adapted for the acquired hospital to highlight its benefits in areas where the competition was weak.
