Marketing Segmentation Essay

Marketing Segmentation united Health aweMKT/571Professor KnabeAugust 26, 2013Marketing Segmentation United Health superviseAn integral part of a tunes market strategy is market divideation. Market Segmentation is that process of breaking d bear a large market into smaller groups of consumers so that they can market much efficiently. Whether you are a consumer oriented company or a business oriented company you should use Market segmentation.DemographicsAs a wellness indemnification provider our market segmentation is based on investigate and academic literature. In the wellness contend industry we cover both constituent served by our organization. Out target markets are EmployersMembers-commercial group, individual, Medicare, and Medic uphold Network PhysiciansBrokersAlthough the predilection of each analysis differs the all spend a penny the same underlying principles. realise has led to the belief that the right connections mingled with the conceptual and analytical a pproaches to arrive at segments and implementation strategies that clients has found useful for improve marketing efficiency and effectiveness. We get to the same general approach to marketing as most health care policy companies. We just add our own ideas and put a special twist on the presentation of our product when itcomes to our marketing strategy.Our elementary market segment is our pieces. The reason being that they are the largest market segment of the four groups. They can be broken down into four groups as well. If we hug drug market our products in a demeanor that is appealing to the genus Phallus not only do retain current appendages but we in any case attract new members. The process of market segmentation must be conducted with the ability of an organization to address the resulting segments.GeographicWe have a plumb large geographic area, with the most of our members being located in the United States of America. We originated in the subject of California so most of member or in the Western United states. We have also migrated to the other sections of the US. We currently have a heavy population in southern states such as Texas, Florida, and Georgia. We also have a heavy population in along the Eastern Seaboard and Northern states such as Wisconsin. The way we market our product in those areas is through mailers, magazine ads, television ads and sometime radio.PsychographicsOur members come from all walks of life. When developing intends we aim to tailor them to the different types of member we serve. Many of our members are travelers so we offer a benefit that covers them from state to state and internationally as well. This benefit is very(prenominal) attr lively to the members with active lifestyles. We also serve a high elderly population. We bunk to offer benefits that would be appealing to the aging population that many other insurance plans have yet to offer. In 2011 we began offer a hearing aid benefit to our member.At t his time no other company is offering this benefit, we have enrolled many new members because of this. Hearing aids are very expensive and the fact that we offer them at a discounted rate keeps our member and draws new members to us. We also offer a gym membership that caters to fourth-year citizens, this is tends to draw members that like to stay fit and it enables them to do it at their own pace. We also offer products that are affordable to individuals that dont have insurance offered to them by their employers.BehavioralWe offer plans for all ranges of incomes. Members with higher incomes tend to purchase the plans that offer the premium benefits. Those with lower incomes tend to purchase plans with that meets the base needs just to have some coverage. Our Medicaid members tend to have the basic needs met because it is basically a state funded program. When designing plans and choosing benefits, we have to lead the target market and user behavior. We design plans for members that go to the doctors frequently as well as for members that only go to the doctor for preventative care only. When designing these plans we also have to make cost sharing organizations with employer and contend premiums being that they will also be contributing to the cost of the insurance for their employees. Past behaviors such as history of switching, current health plan and carry, current benefit design, monthly premium and cost sharing arrangement with employees.Product PositioningCompetition exists in just about all(prenominal) market, especially in niche markets. Its our job to position our products and work for fit each particular segment. Product positions may be be by communication such as advertising rather than the differences between the products. The objective is to expand existing products and continuously adjust them to our ever changing demographic. When doing so we make sure we assess certain criteria for all strength segments profitable size- profit poten tialaccessibility- segment must be kindly through advertisement and other promotional tactics self-containment- product launched should not take demand from other products offered marketing mix response- segment should be responsive to marketing and promotion efforts If all of these criteria are met there is a great chance of have a successful and profitable business.References cause Consumer Insight with the market SegmentationBakken, David G.Examples of Marketing SegmentationKolemuller, NeilVariable plectron for Health Insurance Market Segmentation