Marketing Strategy for Acibadem Healthcare Group

Introduction

The report primarily focuses on the marketing strategy of Acibadem Healthcare Group to give a reader an overview of the growth dynamics of the company. Recently, several strategic issues and managerial problems have been identified in marketing strategy of Acibadem Healthcare Group that have drawn the attention of the entire management to devise new marketing strategies that can help the company to resolve the problems to continue its expansion and future growth to achieve a competitive edge in the marketplace. This report is written to provide Acibadem Healthcare Group marketing strategy with the required strategic solutions using multiple frameworks and tools.

External Environmental Analysis

PESTLE Analysis is the most popular strategic tool that is used by many organizations when conducting an external environmental analysis. This framework typically focuses on political, economic, social, technological, legal, and environmental factors that can impact the macro environment of the business (Zalengera, E.Blanchard, & C.Eames, 2014).

Political factors

Political Stability

Acibadem Healthcare Group operates in a politically stable environment, which means that it provides the company with more friendly and stable business growth opportunities (Christodoulou & Cullinane, 2019). However, since Acibadem Healthcare Group operates in multiple countries, there are high chances of various political tensions that can cause instability in market growth trends for Acibadem Healthcare Group. This can limit the company's growth opportunities.

Pressure Groups

Moreover, it is important for Acibadem Healthcare Group to analyze and monitor the activities of pressure groups. Acibadem Healthcare Group can create a close collaboration with these groups to achieve long-term goals.

Corruption and Changing Policies

Acibadem Healthcare Group must keep a close check on the changes in any government policies because they can directly impact the performance of the business. The operations of Acibadem Healthcare Group are its different countries can become unpredictable if there is a high level of corruption and weak enforcement of the law (Achinas, Horjus, & Achinas, 2019).

Trade and Taxes

The profitability of a company is directly influenced if there are high taxes in a country. Acibadem Healthcare Group should look into the taxation policies in each country before further expanding its operations (Eierle, Hartlieb, & C. Hay, 2022). Similarly, if there are high trade restrictions, it can get difficult for Acibadem Healthcare Group to import and export its products, impacting the relationships with trade partners.

Economic factors

GDP, Employment, and Exchange Rates

The long-term growth strategies of Acibadem Healthcare Group are majorly determined by the GDP growth of the economy. The purchasing power of consumers significantly increases with a high GDP. High unemployment in an economy shows that Acibadem Healthcare Group can benefit from surplus labor with low-cost wages. Furthermore, Acibadem Healthcare Group should monitor interest rates as it can affect the borrowing ability. With that being said, if there is a high fluctuation in currency, the profitability of Acibadem Healthcare Group can also be influenced (Sadeghi, 2020).

Labor Market

It is important for Acibadem Healthcare Group to make appropriate predictions regarding the labor market conditions in a specific economy (Sadeghi, 2020). This can help the company to hire a more talented workforce that can improve the performance of the company.

Industry lifecycle stage

Acibadem Healthcare Group should consider expanding its operations in growing economies to benefit from growth opportunities. It can be challenging for Acibadem Healthcare Group to enter a mature industry at a growing stage (Villamarín & Pinzon, 2017).

Social factors

Demographics

Acibadem Healthcare Group should study the changing patterns of demographics, such as socio-economic variables, the aging population, and trends in migration (Barbara & Cortis, 2017). This can help the company to identify the right segment to target with a high potential for growth opportunities.

Cultural norms

Every country and society has a distinctive culture with different norms and values. It is important for Acibadem Healthcare Group to study and identify social class stratification.

E-commerce

There has been a significant shift in online shopping. Acibadem Healthcare Group needs to adopt necessary changes considering the growing use of social media networking sites and mobile phones to increase its revenue and overall profitability (Villamarín & Pinzon, 2017).

Technological factors

Technological innovations

On-going technological innovations should be considered carefully by Acibadem Healthcare Group so that it can stay ahead of the competitive market. Acibadem Healthcare Group should continue working on introducing major technological transformations to achieve a competitive advantage (Rastogi & TRIVEDI, 2016).

Social Media Marketing

The collaboration with consumers has been growing rapidly because of the development of communication technologies (Rastogi & TRIVEDI, 2016). Acibadem Healthcare Group can take it as a great opportunity where can use innovative strategies to expand its customer base.

Environmental factors

Waste Management

Acibadem Healthcare Group should implement the latest technological tools to minimize environmental pollution. Waste management is now getting popular and has been considered a major business norm (Igliński, Iglińska, & Cichosz, 2016).

Climatic Conditions and Eco-friendly products

Climatic conditions can influence the efficiency of Acibadem Healthcare Group. The cost of a company's operations can be increased if there are extreme weather conditions. Similarly, there has been an increasing demand for eco-friendly products. Acibadem Healthcare Group should work towards adopting more sustainable business practices to gain customer trust (Barkauskas, Barkauskienė, & Jasinskas, 2015).

Legal factors

Employee protection laws

It is important for Acibadem Healthcare Group to follow the health and safety laws for its employees that are issued by the authorities to ensure the safety of its labor.

Consumer laws

Acibadem Healthcare Group should protect its customer data to ensure their security and privacy concerns. Moreover, it should set the right price with the right product quality (Igliński, Iglińska, & Cichosz, 2016).

Porter's Five Forces

Acibadem Healthcare Group can use Porter's Five Forces to analyze the competitive landscape of the industry. The strategic planners of Acibadem Healthcare Group can use this framework to make effective decisions.

Threat of New Entrants

Acibadem Healthcare Group operates in an industry where it is difficult to achieve economies of scale, making it difficult for new entrants to enter the industry (Yunna & Yisheng, 2014). There is a strong product differentiation with high capital requirements. Moreover, it is difficult to establish a distribution network easily in this industry. Thus, Acibadem Healthcare Group has a weak threat of new entrants.

Bargaining Power of Suppliers

There are more suppliers in the industry of Acibadem Healthcare Group. This shows that there is less control over prices. Organizations like Acibadem Healthcare Group can easily switch to other suppliers because of less differentiation in products. This makes the bargaining power of suppliers a weak force in Acibadem Healthcare Group's industry (H. Th. Bruijl, 2018).

Bargaining Power of Buyers

The industry in which Acibadem Healthcare Group operates has many suppliers as companies to buyers. This means that buyers have fewer options and do not have control over prices (H. Th. Bruijl, 2018). The high product differentiation shows that there are few alternative products for buyers, and there is a high switching cost. This makes the bargaining power of buyers a weak force in the industry.

Threat of Substitute Products and Services

Acibadem Healthcare Group operates in an industry that offers very few substitutes to its customers. The substitutes that are available are expensive because of their high quality (Zhao, Zuo, & Wu, 2016). However, companies like Acibadem Healthcare Group sell their products at a lower prices. This clearly shows that buyers may feel reluctant when switching to other substitutes.

Rivalry Among Existing Firms

Acibadem Healthcare Group operates in a less competitive industry. The already established companies have a large market share, meaning that any move by the existing companies will be noticed. Moreover, Acibadem Healthcare Group has to take several competitive actions to become a market leader, as the industry is likely to grow rapidly in the coming years (Aithal, 2020).

SWOT Analysis

Acibadem Healthcare Group can make use of SWOT analysis to effectively analyze the company's internal strengths, weaknesses, external opportunities, and threats.

Strengths

Strong distribution network

Acibadem Healthcare Group operates in various countries and has multiple outlets that help the company to deliver its products quickly to its customers. This shows that Acibadem Healthcare Group has a strong distribution network (Benzaghta, Elwalda, & Mousa, 2021).

Financial position

Acibadem Healthcare Group has established itself as a strong financial company over the past few years. It has generated enough profits that can be used to finance any future expenditure (Basset & Mohamed, 2018).

Automation

Acibadem Healthcare Group has adopted the latest and innovative technology in its business operations, which has allowed the company to reduce its production costs (Benzaghta, Elwalda, & Mousa, 2021).

Social media presence

Acibadem Healthcare Group has been successful in establishing itself as a strong brand on social media platforms that, includes Facebook, Twitter, and Instagram. This increases customer engagement (Basset & Mohamed, 2018).

Weaknesses

High rent costs

Acibadem Healthcare Group has its manufacturing plants on rented properties. This increases the company's overall costs, and a significant portion of Acibadem Healthcare Group's profits go into paying the rent (Comino & Ferretti, 2016).

Research and Development

Acibadem Healthcare Group has not been able to conduct effective and in-depth market research regarding new markets and products (Comino & Ferretti, 2016). Customer trends are always evolving, and it is important for Acibadem Healthcare Group to take immediate action in conducting its research.

Centralized Power

There has been a centralized decision-making process in Acibadem Healthcare Group. This means that employees have to consult their managers before taking any decision themselves. This slow down the decision-making process. and employees feel demotivated. Thus, impacting the operations of Acibadem Healthcare Group (Comino & Ferretti, 2016).

Opportunities

Presence of Internet

Acibadem Healthcare Group has a great opportunity of expanding its business by using the internet. Since there has been a growing trend in online shopping Acibadem Healthcare Group can boost its sales by expanding its online stores (Yan, Xia, & X.H.Bao, 2015). Additionally, social media platforms can be updated constantly to engage customers with all the new products introduced by Acibadem Healthcare Group.

Technological Innovations

Technology is constantly evolving, and Acibadem Healthcare Group can benefit from it by implementing the technology in its various departments. Manufacturing process can be completed automated, which can eventually help Acibadem Healthcare Group to reduce its costs (Taghavifard, Mahdiraji, & Alibakhshi, 2018).

Globalization

The continuous increase in globalization has allowed Acibadem Healthcare Group to expand its business operations across borders. It has the opportunity of entering new markets (Yan, Xia, & X.H.Bao, 2015).

Threats

New Entrants

Recently, many companies are entering the industry in which Acibadem Healthcare Group operates. This means that there are chances of increased competition. This poses a threat to Acibadem Healthcare Group as it has to put more effort into gaining market share (Taghavifard, Mahdiraji, & Alibakhshi, 2018).

Fluctuations in exchange rates

The exchange rates are highly subjected to fluctuations that negatively impact the sales of Acibadem Healthcare Group. Acibadem Healthcare Group needs to study the changing fluctuations to keep up with its profitability (Vlados & Chatzinikolaou, 2019).

Consumer trends

The consumer trends are constantly changing, that causes changes in their demands. This puts pressure on companies like Acibadem Healthcare Group, who have to continuously meet their consumer demands. Moreover, there is a significant threat from substitute products because consumers tend to switch to these companies (Vlados & Chatzinikolaou, 2019).

Marketing Mix

Product

Acibadem Healthcare Group operates in a wider range of products. Each of the products has its further product lines that are sold under the Acibadem Healthcare Group. This means that customers can benefit from a large variety of products. Acibadem Healthcare Group sells highly differentiated products with higher quality that, gives it a competitive edge (Khan, 2014).

Price

Acibadem Healthcare Group follows a competitive pricing strategy. The company also takes into account all its costs before setting its prices (Londhe, 2014). Currently, Acibadem Healthcare Group is using a product bundle pricing strategy where customers get bundled products at lower prices.

Place

Acibadem Healthcare Group has adopted various distribution channels to reach its customers. The company sells its products through its website directly (Thabit & Raewf, 2018). Apart from this, it also distributes its products to wholesalers, who then further sell it to small retailers. Acibadem Healthcare Group has its own retail stores where it sells its products directly to consumers.

Promotion

Acibadem Healthcare Group uses traditional and modern promotional techniques. TV ads are used to reach a larger audience. Acibadem Healthcare Group also advertises on social media sites such as Facebook, Instagram, and Twitter. Events are sponsored by the company. Moreover, Acibadem Healthcare Group participates in several exhibitions (Londhe, 2014).

VRIO Analysis

Valuable

Acibadem Healthcare Group engages in corporate social responsibility activities. This has allowed the company to establish a strong brand image. Since, Acibadem Healthcare Group has a well-established distribution network, the products are reached to consumers in a timely manner. Acibadem Healthcare Group has been able to introduce innovation in its various departments, which has lowered its costs (Ariyani & Daryanto, 2018).

Rare

Acibadem Healthcare Group operates in multiple countries. This means that its global presence is a rare factor. It works towards an organizational culture that encourages teamwork, and creativity among employees (Ariyani & Daryanto, 2018). Acibadem Healthcare Group is also able to adapt to different societies, and cultures due to its exposure to various locations.

Inimitable

The products produced by Acibadem Healthcare Group are of a high quality. Customers make repetitive purchases, and thus it is an inimitable source. (Miethlich & G. Oldenburg, 2019). Acibadem Healthcare Group has a significant placement of its stores that gives an easy access to its customers. Additionally, the company has been using a competitive pricing strategy because it has been able to achieve economies of scale, thus lower production costs.

Organization

Acibadem Healthcare Group, over the years, has successfully gained a financial strength. Acibadem Healthcare Group can make use of these finances to invest in major acquisitions that give it more growth opportunities. The advancements in technology have allowed Acibadem Healthcare Group to manage its operations more effectively. Distribution channels are another resource for Acibadem Healthcare Group. The supply chain is very efficient, resulting in more revenue (Miethlich & G. Oldenburg, 2019).

Value Chain Analysis

Primary Activities

Acibadem Healthcare Group is involved in primary activities such as the production of goods and then selling them to the target audience.

Inbound Logistics

Acibadem Healthcare Group should ensure to have a strong relationship with its suppliers to avoid any inconvenience in receiving, storing, and distributing the product. This will help Acibadem Healthcare Group to have a more effective transformation of a product (Ariwibowo & Saputro, 2021).

Operations

Operations involves manufacturing as well as services. Acibadem Healthcare Group should conduct an in-depth analysis of its operational activities to remain ahead of its competitors (M.El-Sayed, W.Dickson, & O.El-Naggar, 2015). This will increase the productivity of the company, and more profits can be generated.

Outbound Logistics

It is important for Acibadem Healthcare Group to analyze, and optimize its outbound logistics so that it is able to achieve the long-term corporate goals. Managing outbound activities properly reduces the chance of late deliveries (M.El-Sayed, W.Dickson, & O.El-Naggar, 2015).

Marketing and Sales

Acibadem Healthcare Group should use various marketing and sales techniques to differentiate its products from its competitors. Acibadem Healthcare Group can adopt marketing and sales activities such as promotional activities, advertising, and building strong relationships with suppliers and customers (Ariwibowo & Saputro, 2021).

Services

In terms of services, Acibadem Healthcare Group must ensure that it provides its customers with the pre-sale and post-sale services (Jaligot, C.Wilson, & R.Cheeseman, 2016). The post-sale service typically falls into the promotional activities of a company. Acibadem Healthcare Group can thus develop its customer loyalty.

Secondary Activities

Firm infrastructure

A strong infrastructure of a firm can enable Acibadem Healthcare Group to optimize the entire value chain of the company. Moreover, by controlling the infrastructure activities, Acibadem Healthcare Group can be in a better position to get a strong foothold in the competitive marketplace (Darmawan & Wiguna, 2014).

Human Resource Management

Acibadem Healthcare Group should place its major focus on analyzing the different aspects of HR, such as recruitment, selection, training, and performance evaluation of employees (Darmawan & Wiguna, 2014). Acibadem Healthcare Group can reduce its costs by identifying and analyzing the costs associated with hiring and training.

Procurement

Procurement is an important element in the Acibadem Healthcare Group's value chain. It is important for the company to assess its overall procurement activities so that the inbound, outbound, and operational activities can be optimized (Kumar & P. V., 2016).

Ansoff's Matrix

Acibadem Healthcare Group can implement Ansoff's Matrix to make decisions regarding its business growth. This framework includes four different strategic choices that can be selected by Acibadem Healthcare Group.

Market Penetration

Production capacity

Acibadem Healthcare Group can increase its overall production capacity. This will allow the company to reach more wider audience in an existing market. Acibadem Healthcare Group can also benefit from the reduced costs by expanding its production capacity. Thus, Acibadem Healthcare Group can attract more customers using competitive pricing (Madsen, 2017).

Marketing Investment

Acibadem Healthcare Group can penetrate the market by investing more in marketing and sales activities. This will help the company to engage with its customer more effectively, leading to more potential customers (Dawes, 2020).

Distribution Channels

Innovative and unique distribution channels can be explored by Acibadem Healthcare Group. This will enable the company to reach new segments and groups of customers (Dawes, 2020). In addition to this, Acibadem Healthcare Group can penetrate the market by improving its supply chain, giving more accessibility to customers.

Joint Ventures/Acquisitions

Acibadem Healthcare Group can enter into joint ventures or can take over other leading companies of the market. This will give Acibadem Healthcare Group more market share.

Market Development

Research & Development

Acibadem Healthcare Group should keep on investing in its R&D department, so it is able to identify the changing trends of the market. This will help Acibadem Healthcare Group to target the right market at the right time (Mukangai & Murigi, 2021).

Expanding Regionally

Acibadem Healthcare Group can enter in a new market by expanding its operations regionally. This includes considering different cities of the country. Acibadem Healthcare Group must consider any cultural differences when entering a new market (Mukangai & Murigi, 2021).

New Segments

New segments of the current market can be explored (Mukangai & Murigi, 2021). Acibadem Healthcare Group can add new features and product uses to its existing products that satisfies the needs of a different customer segment.

Product Development

Modifications

Acibadem Healthcare Group can modify the existing product by improving its features to enhance the product offerings.

Launching additional products

Acibadem Healthcare Group should invest in its R&D department so it can come up with new and innovative products that attracts and fulfill the needs of the target audience. This will boost the sales of Acibadem Healthcare Group and will increase profitability (Khajezadeh, Niasar, & Asli, 2019).

Diversification

Vertical Integration

Acibadem Healthcare Group can consider vertical integration. This will allow Acibadem Healthcare Group to develop and launch new products that are similar to its existing product category (Khajezadeh, Niasar, & Asli, 2019).

Horizontal Integration

Acibadem Healthcare Group can diversify its business operation using horizontal integration. This means that the new products and services of Acibadem Healthcare Group will not be related to its current products (Dhir & Dhir, 2015).

A new business diversification

Entering into a completely new business can be considered by Acibadem Healthcare Group. The organization can work towards starting a new business that can give a company more growth prospects in the future (Dhir & Dhir, 2015). Acibadem Healthcare Group can conglomerate with the help of mergers and acquisitions.

Conclusion

To conclude, it could be said that Acibadem Healthcare Group can resolve its current managerial and strategic problems by focusing on its existing products. The company can adopt more attractive marketing strategies that can help Acibadem Healthcare Group to boost its revenue and profitability. It is recommended to focus on maintaining strong supplier relationships. Moreover, it is also advised to focus on more innovative products so Acibadem Healthcare Group can remain competitive in the market.

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