3 RESOURCES PLEASE AT LEAST:) Please use this as one of the resources : Hamric, A., Hanson, C., Tracy, M., & O’Grady, E. (2018). Advanced Practice Nursing: An Integrative Approach. (6th ed.). St. Louis: Sanders.
The Four P’s of Marketing
As a future MSN-prepared nurse, you need to be aware of how to market yourself. Marketing your skill set helps you obtain and retain a position that matches your skillset.
What are the four P’s of marketing and how can they be applied to marketing nursing advanced practice roles? Consider how marketing can promote cost effective care.
EXAMPLE 1: Unit 7 Discussion
The Four P’s of Marketing
The four P’s of marketing are: price, placement, products and promotion. Together, these four strategies aide in the assistance of marketing a service, and in this case, healthcare. Price involves the amount that patients will have to pay for the services they are provided. Not everyone has great, or any, insurance coverage. It is our responsibility as advanced practice nurses to ensure we provide affordable prices and maybe even some free services. Placement is the location and convenience of our practice. Patients will seek out care more often if the practice has flexible, extended hours, as well as walk-in appointments. Products involve the different items kept inside the practice. For example, free testing kits for different diseases, samples of medications, and basic healthcare supplies. Promotion is achieved by getting the word out about one’s practice. Technology is on our side with this one, we can advertise ourselves through social media sites like Facebook, as well as hanging up flyers and brochures around the community in popular areas (Lamar University, 2020). In order for marketing to be effective for family nurse practitioners, we must understand our practice, network with others, help patients find us, and educate them about their healthcare needs (American Association, 2018).
Cost Effective Care
Marketing is a great way to get yourself and your practice known and out there to the public. As family nurse practitioners, it is important that we tend to the needs of our patients. The first P of marketing, price, refers to making sure we can provide affordable, cost-effective, services to our patients. We must advertise ourselves in an intriguing, eye-catching way so that we can build a clientele for ourselves. It’s important that advanced practice nurses accept a vast majority of insurance plans for our patents. If our marketing is successful, we will create successful patient-provider relationships, which in turn leads to a booming, popular practice. If we budget and market effectively, we can provide the best patient-centered, cost-effective care possible (Brody, 2018).
References
American Association of Nurse Practitioners. (2018, October 26). How to: market your practice. https://www.aanp.org/news-feed/how-to-market-your-practice.
Brody, M. L. (2018). Understanding next generation ACOs: It’s all about demonstrating quality and cost-effective care. Podiatry Management, 37(1), 75–76.
Lamar University. (2020, October 6). The importance of marketing skills for nurse administrators. https://degree.lamar.edu/articles/nursing/importance-of-marketing-skills/.
EXAMPLE 2:
Four P’s of Marketing:
Price, placement, product, and promotion are what is known as the four P’s of marketing. These four P’s helps to market a service or organization. The four P’s greatly help with assistance in healthcare (Dayhoff & Moore, 2002). First, price is the amount of money the patients and clients will pay for the care provided in the hospital. Or in some cases, the patient’s insurance may cover the expense. If one’s insurance does not cover, it should be the nurse practitioner or advanced nurse to help make sure affordable prices are being looked into as well as, care/services for the patient. Next, placement is the location of the organization. When the patients are aware of their surroundings, the organization is close to them, the hours open are met with the patients’ lifestyle and there are readily available appointments, more patients will be produced and comply with treatment and set appointments. Then, products may include various products and items available in the healthcare organization for the patients. These items can include ones for monitoring vital signs, testing kits, medications, breathing treatments, nebulizers, oxygen, and other healthcare equipment. Lastly, promotion is when the more patients come to the practice and spend positive word about the facility; more individuals will want to join the practice and be involved with the practice’s care and management. Promoting commercials, advertisements on television or on social networks can promote positive feedback and patients (Hamric et al., 2018). All of these P’s and ideas can help marketing and be applied effectively for medical providers and nurse practitioners in their practice as it is crucial for positive patient outcomes.
Cost Effective Care:
Marketing can promote cost effective care in many ways. Marketing as an advanced practice nurse can help bring more patients into practice and meet the needs of each patient. By using the four P’s into the practice more positive patient outcomes will arise. NP’s and all staff need to promote and advertise the practice as reliable, affordable, and easily available to the patients in order to advance the organization’s care. This will also help to build clientele and help others spread the word about the practice. Also, insurance plans need to be widely accepted in order to benefit the patients (Brody, 2018). If all goes well and the marketing is prosperous, creating rapport with patients will be easy and in turn the practice will overall advance. Overall, the best patient care will be provided.
References:
Brody, M. L. (2018). Understanding next generation ACOs: It’s all about demonstrating quality and cost-effective care. Podiatry Management, 37(1), 75–76.
Dayhoff, N.E, Moore, P.S., (2002). Entrepreneurial clinical nurse specialists: Innovators of patient care. Clinical Nurse Specialist. 2002; 16:274–276.
Hamric, A., Hanson, C., Tracy, M., & O’Grady, E. (2018). Advanced Practice Nursing: An Integrative Approach. (6th ed.). St. Louis: Sanders.
EXAMPLE 3: Four P’s of Marketing and Their Application to Advanced Practice Nursing Roles
The four P’s of marketing include product, place, price, and promotion. These four concepts can be applied into marketing for an advanced practice registered nurse (APRN) role. Product refers to the brand, service, or packages that is being promoted to a targeted audience. Place refers to how one obtains the product and its location. Price, of course, is how much the product or service will cost the consumer. Finally, promotion is how one reaches the targeted audience, through examples like advertising and campaigns (Borden, 1984; Dubey, 2017). Through the four P’s of marketing, APRNs and healthcare organizations can make themselves more attractive for future employers and patients. Product defined by an APRN is oneself. An APRN must display characteristics, like positivity and flexibility, and their specialties, like licensures, certifications, and previous work experience. This branch of marketing offers the question of the impact your product would make in the position and to patients who receive your care. Place is where an APRN is located. Often, this location is based on job availability and driven by need and patient convenience. Price is focused on one’s worth. When an APRN is marketing themselves for a position they need an understanding of the current market value compared to similar positions and price themselves accordingly (Tracy & O’Grady, 2018). It can also refer to the price of services provided. An APRN must understand their patients financial/health insurance backgrounds (Lamar University, 2020). Finally, promotion is vital to an APRN. In the interview process, an APRN can promote themselves by cover letters, resumes, and professional portfolios. These items present an APRN’s education, accomplishments, and qualifications that make them a desirable candidate for the position (Tracy & O’Grady, 2018). Promotion as a practicing APRN can help patients find care with the use of business cards, social media, and search engines (AANP, 2021).
Promoting Cost Effective Care
Through marketing and utilizing the 4 Ps, healthcare providers and systems can provide cost effective care. Marketing in healthcare is often driven by patient needs. Patients choose healthcare systems based off sustainable relationships with providers. Healthcare systems are responsible to provide care at a high level of satisfaction, so patients continue to return for services. To gain trust in patients, health systems must account for patients’ suggestions, wishes, and concerns. This can be done through effective communication. An inexpensive, and now common way to communicate with patients and market a health system/practice is using the internet and social media. Digital marketing with internet decreases promotional costs, but increases coverage and engagement of patients (Purcarea, 2019).
References
AANP. (2021). How to: Market your practice. AANP. https://www.aanp.org/news-feed/how-to-market-your-practice
Borden, N. H. (1984). The Concept of the Marketing Mix. Journal of Advertising Research, 24(4), 7–12.
Dubey, J. (2017). Patanjali: Unique Brand Building and 4Ps. IUP Journal of Brand Management, 14(3), 45–53.
Lamar University. (2020). Importance of marketing skills for nurse administrators. https://degree.lamar.edu/articles/nursing/importance-of-marketing-skills/
Purcarea V. L. (2019). The impact of marketing strategies in healthcare systems. Journal of medicine and life, 12(2), 93–96. https://doi.org/10.25122/jml-2019-1003
