Using the concepts discussed in Chapter 6 Market Segmentation, explore the various types of market segmentation strategies, and discuss the hierarchy of segmentation alternatives. Include at least one study that demonstrates the use of segmentation strategies in healthcare or in a health-related topic.
These solutions may offer step-by-step problem-solving explanations or good writing examples that include modern styles of formatting and construction of bibliographies out of text citations and references. Students may use these solutions for personal skill-building and practice. Unethical use is strictly forbidden.Market segmentation refers to the classification of customers according to their unique characteristics and needs and using the clusters to design and develop strategies tailored to the unique needs of every group (Berkowitz, 2010). While the concept has been mainly popular in corporations dealing with consumer goods and non-medical products, it has emerged as an effective and reliable solution to the diverse health care needs and the expanding patient populations. Various types of segmentation in healthcare exist including sociodemographic, cohort, and geographic. Others include psychographic and usage segmentation. Segmentation can be concentrated – focusing on a single consumer characteristic or group – or multisegmented – referring to the identification and establishment of multiple clusters and developing strategies to address the needs of each group (Berkowitz, 2010).
Types of Segmentation
Socio-demographic segmentation is one of the common strategies utilized in healthcare with the aims of identifying patients with shared characteristics such as age, gender, race/ethnicity, and income. While each of these categories may generate multiple patient characteristics...
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