Review the document.
Assume upper management of the organization is interested in understanding the impact its branding and competitive strategies have on consumer choice, as well as the impact of the bargaining power of consumers in the health care market, especially on your products and services.
Prepare a 1,050-word summary of branding and competitive strategies’ impact on consumer choice and bargaining power on ECRHS.
Part I: Branding Strategy Impact
Analyze the impact that the current ECRHS brand has on consumer choice of its products and services. In your analysis, consider the following:
· What is the current branding strategy of ECRHS?
· How are the organization and its brand(s) perceived in the market?
· Are there any negative impacts of legal cases against the organization within the community or its consumers? How might this impact their choice of a health care provider?
· How have your acquisitions of other health care facilities impacted your brand image and hence consumer choice of your organization?
· How has your handling of the COVID-19 pandemic impacted your brand image?
· What impact do your branding strategies have on consumer choice and bargaining power?
Part II: Competitive Strategies Impact
Analyze the impact that the current ECRHS competitors have on consumer choice of its products and services. In your analysis, consider the following:
· Who are the 3 largest competitors, and how do their offerings differ from those of ECRHS?
· What share of the market do the competitors hold?
· What are the threats of new entrants to the market and the organization?
· What is the threat of competitive/substitute products/services to the organization?
· What is the bargaining power of customers in the market?
· How does this bargaining power impact consumer choice in the market and for ECRHS?
Cite at least 3 reputable references to support your assignment (e.g., trade or industry publications, government or agency sites, scholarly works, or other sources of similar quality).
Format your citations per APA guidelines.
B: Due 4/17/2022 Today
Drug companies are pursuing collaborative efforts with other companies to manage in the world of pharmacogenomics and individualized medicine.
Respond to the following in a minimum of 175 words:
· What are some examples of these collaborative efforts by pharmaceutical companies (e.g., Accelerated Medical Partnership (AMP) program)?
· What are some examples of the value in partnerships and collaborations in health care service systems?
Respond to classmates
One example of collaborative efforts by pharmaceutical companies is Pfizer/BioNTech for the treatment of the Corona Virus. BioNTech led the R & D and Pfizer, clinical trials.
By partnering, they were able to effectively and efficiently roll out a very new treatment option in record time with significant positive results. Pfizer has additionally partnered with IBM to explore new drug targets for research and data analysis. This type of partnership is a way that pharmaceutical companies can eliminate wasting money and time on treatments that are essentially not viable.
I work for a healthcare system and some examples of partnership and collaboration are understanding the value of each unit's service lines and not competing against each other. Additionally, the care provided to the consumer is generally better once the competition is eliminated as this allows practitioners to send their patients to the hospital that is the best fit for the disease that is being treated.
Collaborations and partnerships with the community and local first responders are integral to a healthcare system's overall success especially when there are competitors nearby.
Due to the fact that I have never considered what collaborative efforts are made by pharmaceutical companies, I had to dig a little to understand. However, When I was younger I remember hearing about these companies that would pay people to run trials on medication or vaccines that they would take for a certain amount of time. The purpose would be to see how it made the, react, or hope that the medication would work at all. Depending on what would happen after the trial, if the trial was successful, these pharmaceutical companies would then produce the doses needed by the thousands to meet supply and demand. I am more than sure this had to be done for the vaccines that were produced for covid-19.
As far as partnerships and collaborations in healthcare service systems, the relationship between ambulances and hospitals comes to mind. Until a few years ago, I never realized that Ambulatory vehicles were basically privately owned. however, they work very closely with the hospitals and most of the time have contracts to work with certain privately owned hospitals. Their job is to respond to the person who has an emergency and get them to the nearest healthcare facility immediately. These are two different companies that are working together to save a patient's life. I imagine having an emergency and there is no way to get you where you need to go, Because of these collaborative efforts in both situations, lives are saved and prolonged every single day. One hand truly does wash the other in this industry.