Question

You have just inherited $1 million. After paying all your outstanding student loans, you decide to start a health care enterprise. What business are you in? Is it for-profit or not-for-profit? What segments would you choose to serve? Briefly describe the steps you would take to divide the broad market into your selected segments. Will you use a concentrated or differentiated targeting strategy? identify the key segmentation variables that you would use, and explain why.

Health Care Management

Answer 1

I must admit I giggled a little when I read about paying off my student loans
However, if I were to start a business in healthcare it would be for medical equipment for children on the Autism Spectrum and those with Sensory Processing Disorder. I am fortunate enough to be the mom to a superhero with both Autism and SPD. I know how expensive services and equipment can be for children and their families, especially those children on the lower end of the spectrum. It would be a non-profit. The company would serve all families and be an income/case-based payment plan. Ideally, the company would serve families of lower incomes and single incomes. Our marketing would have to focus on the fact that we want to help and not make a profit. That we want to be the support that these families can turn to. Marketing would have to be differentiated targeting strategy, for example my daughter is on the high side of the spectrum and we are fortunate to have insurance that covers her therapy, but I still wish I knew more about what was offered for her. I only by chanced stumbled upon a non-profit that offered weighted blankets at a low cost based on income. Most parents only pay shipping. Weighted blankets are costly and do not grow with the child. I wish this is something that would have been advertised in the therapy center or the child psychologist office.