Milestone 2 Promotional Strategies in a Target Market SWOT Analysis DONE – For milestone 1 you were asked to: Select a business you would like to go into,

Milestone 2 Promotional Strategies in a Target Market SWOT Analysis DONE – For milestone 1 you were asked to: Select a business you would like to go into, in your field of interest. Describe the business including the mission statement, the products and services the company will offer, and who you consider to be the company’s competition. How will you establish your company so that it stands out from the competition? How will you establish this business to accommodate a global business environment? What talents will you be looking for when you hire employees? What technologies will be imperative to maintaining your business? What will you charge for your products and/or services that you offer?

NEED – In milestone 2, you will create a SWOT analysis and discuss promotional strategies.

Part A
Conduct a SWOT analysis on the competition in your target market. Go to Bplans.com, read What Is a SWOT Analysis and view the video. A SWOT for a particular business looks at the following:

Strengths (what is the competition doing well)
Weaknesses (what is the competition not doing well)
Opportunities (what opportunities exist for your company in the market)
Threats (what challenges will you be facing in this market, that you have no control over such as the economy or new competition)

Share the SWOT analysis using a table created in a Word document that bullet points the strengths, weaknesses, opportunities and threats. Then, in 1 paragraph, explain what the content of the SWOT analysis means to your company.

Part B
Discuss your promotional strategies. How will you promote your business (how will you let the consumer or client know you exist using advertising and promotions)? What do you project your sales to be in the first year of doing business? Explain your answers. Running head: HEALTHCARE BUSINESS PLAN
Healthcare Business Plan
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Healthcare Business Plan
Delta will be a company that offers service; it will help clients come up with health plans
that are about the employers who take up self-insurance. It will serve the employer who has
employees between fifty and five hundred. The employers most of the time prefer HMO, as well
as, the PPO plans when it comes to insurance. In addition to there are employers who have more
employees at times have an insurance plan in an established insurance firm that may cater for
more employees than Delta’s target market this covers up to 80% of the companies in the market
with the same amount of staff members. The company will target pollution of around 75% of the
employees not insured.
The firm will also operate in a market that has organizations that are currently adapting to
the self-insurance plans. Therefore, they will have to compete will major insurance companies,
as well as, the self-insurance firms that exist or are starting in the same market. Consequently, it
will be easy to penetrate the market, as it will need to convince the firms by giving them
explanations as to why they need to adopt the Delta’s services. It would offer quality
administrative functions that the organizations look for; in addition to this, it will also have
consultative services. To help carry out its operation, it will have partners with management
firms who would provide services to help run the operations of management and giving the
companies consultative services on the same as Delta concentrates on the self-insurance
programs.
Delta plans to increase its revenues to the five million dollar mark in the next five years
making a profit of up three point six million dollars after they deduct tax. The company will also
break even in 3years making profits during the same year. That is after a projected five hundred
and sixty million dollars earnings after tax. The company is a service provider; it will also act as
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a marketing organization that will be generating a gross margin of 0.8, a figure that includes
sales in this case. When the operating expenses get deducted from the gross profit, the company
will generate up to 0.5 of the gross profit margin that is after Delta gets a market share and get
established in the market as a renowned company.
Recommendation
The company will offer the current services required in the market by most of the
organizations that come to look for insurance. Delta will provide more analyses and services that
is the consultative functions needed, and then it will give support to the clients as the traditional
organization does. The company will further ensure that the clients get their claims processed on
time. However, they will get extra services on this; Delta will help them control its plan and the
expenses that come with the activities in this case. Therefore, they will get the quality services
they all yearn for in the administrative services industry. It will also have a marketing strategy to
get its products to the market. It will ensure that it has its information on its websites, as well as,
the available advertising media such as the newspapers, social media, and television platforms.
Accommodating a Global Business Environment
Delta will make benefits out of the services they give to its clients. Further, it needs
partners who would also provide them with information that will help them better the services in
the market (Belanger et al., 2018). Therefore, it will take up partnerships with foreign companies
to give meaning to a lot of activities. There will be technology companies that will provide
applications for customer management services that will help the firm also collect data in that
they will be able to tailor their services to the desires of the clients in the market as it grows.
They will help guide the clients on how to connect to the right hospital where they will get the
proper administrative care they so wish for; the firm will also ensure that the medical services
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clients get come from the most competent doctors, as well as, having the best equipment’s
overall.
Talents
The employees should have the ability to work in their fields with minimal supervisions.
They should also be willing to work in a team and be team-leaders interchangeably. That will
give people a sense of direction. They should also be able to design documents that have plans
for the clients that would perfectly fit them. In addition to this, they should be able to analyze the
material presented to them to come up with an effective procedure that will help the clients be
able to operate flawlessly (Wilson, 2016). Overall the clients need a more innovative firm; the
company will need the employees who would be able to think and come up with an innovation
that will help them come with new products overall.
Technologies
The mobile application tools will be essential to monitor consumers of Delta services.
That way people can communicate with one another, employees and the consumers will interact
freely with each other solving problems as well (Guo, 2017). The company will also need
collaborative tools to exchange data and keep in touch both in the organization and outside the
organization.
Currently Charge
Delta has segments. The first section generates a total of 7.2 dollars from every employee
registered. It also gets 5.1 dollars from the second segment that it operates. Finally, get 3.71
dollars to form every employee present in the last sector. That is revenue collected form
employers per month.
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References
Belanger, H. G., Curtiss, G., Duchnick, J. J., Bates, J., Pommer, S., Pollack, S., … & Jones, K. R.
(2018). Satisfaction with psychology training in the Veterans Healthcare
Administration. Professional Psychology: Research and Practice, 49(4), 290.
Guo, R., Berkshire, S. D., Fulton, L. V., & Hermanson, P. M. (2017). Use of evidence-based
management in healthcare administration decision-making. Leadership in Health
Services, 30(3), 330-342.
Wilson, A. B. (2016). Think Like an Administrator: An Instructional Design and Delivery
Template for Healthcare Administration. Journal of Health Administration
Education, 33(1), 179-190.

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