UnitedHealth Group Marketing Strategy; 4Ps of Marketing
The main aspect of this assignment is to evaluate the UnitedHealth group as one of the biggest and successful healthcare service providers in the United Kingdom. At first, marketing will be described as a philosophy as well as the process on a clear conclusion will be evaluated as well. After that, the introduction of the company will be given and how it offers different types of products and services to the customers in the demographic factor and what are the main competitors of the company will be discussed too. The summary will be given through which the company has been operating in the environment in the last few years and their analysts will be made out as well through which the company has responded. How the company is creating value for the customers will be seen and how the company is implementing different types of marketing strategies to the customers will be figured out as well. Relevant recommendations will be given to improve the efforts of the United Health group.
Marketing is a philosophy as well as a process. Marketing can be considered as the process through which creation takes place as well as communication takes place. Delivering different types of products and services for gaining the satisfaction of the customers is a process through which satisfaction is seen. According to Ducange, at the same time, the purpose of marketing can be considered as philosophy because different types of identification and fulfilment of the needs of the customers as well as their demands are done (Ducange et al., 2018). That is why the process of marketing can also be known as a philosophy. The main concept that is seen in marketing philosophy might be extremely crucial and is another reason why the steps of marketing are successful. There are different types of processes that look into the philosophy of marketing and they both work together to produce something that makes all types of customers satisfied.
As suggested by Parola, different factors related to the production concept, the selling concept, the product concept, etc have a dependence on the process as well as the philosophy (Parola et al., 2018). The marketing process can be considered as the series of different types of a step that allows organizations in the businesses to identify different types of problems faced by the consumers and also allows the opportunities in the market to flourish them and in this factor; the marketing philosophies come together as well. The main marketing philosophy that complements the process of marketing is the production, the sales as well as the marketing orientations. The process and the philosophy complement each other that is why marketing is known as a philosophy as well as the process (Sinha & Sheth, 2018). There are various sorts of cycles that investigate the way of thinking of the showcasing and the two of them cooperate to create something that fulfils a wide range of clients.
Unitedhealth group incorporated is one of the biggest healthcare companies in the United Kingdom. It is a public company. The organization offers different types of healthcare products as well as services in insurance. The organization is ranked in the number 7th position in the year 2020 for Fortune 500. The organization was first found in the year 1977 which was approximately 44 years ago (Radu et al., 2017). The numbers of employees according to the year 2020 who are working for this organization are more than 3 lacs and 20,000. UnitedHealth care is an organization that is extremely established in the United Kingdom and they have included four types of divisions for their organization.
At first, the employer and individual aspects in the organization take place where different types of health benefit plans and services for the employees as well as for the employees are included, after that the Medicare and retirement plan includes the welding services and healthcare services to the individuals who are above the age of 65 (Abedi and Abedini, 2017). There are also different types of services where medical benefits and economical support for the disadvantaged people are included. There are different types of legal issues that are related to the company but can be understood that the foundation of the organization is great and due to the organizational structure the different types of legal issues were managed appropriately. The revenue of this organization is great as well. There are various kinds of lawful issues that are connected with the organization yet can be perceived that the establishment of the association is extraordinary and because of the authoritative structure, the various sorts of legitimate issues were overseen properly (Martínez-Caro et al., 2018). The income of this association is extraordinary too. The main competitions of Unitedhealth Group are Cigna, CVS Health, Humana, Anthem, etc.
Change is an aspect that is inevitable in the lives of a business and an organization. This is the same for the UnitedHealth Group in the United Kingdom. There are different types of changes that have been seen in the company’s operating environment in the last five years and the organization has responded appropriately as well. The organization had to meet certain risk-based products and different types of fees for the health services that drive the revenue of the organization. The company looked into the middleman and this is one of the biggest changes that have been affecting the United healthcare group (Gilligan & Lowe, 2018). It can be understood that changes in the company’s operating environment happen all the time but there are certain types of factors related to the economic fluctuation that affects the changing environment of the company and in this perspective, united health group has reacted appropriately to the different types of changes that have been taking place in the company’s operating environment. At first, it is to be noticed that UnitedHealth group in Corporation is one of the biggest and most efficient healthcare providers and systems in today’s world and also by revenue (Hillestad & Berkowitz, 2018).
This company takes different types of risks and generates revenue from a variety of sources including the fees from services the investments as well as the premiums on different types of products. The involvement of the middleman has been one of the biggest changes that are seen in their business operating environment of UnitedHealth group incorporation from the year 1974. As suggested by Izadi, throughout the history, the company has taken risks in the business environment but in the last five to six years it can be seen that the company has acquired different types of competing products for the competition and there are online patient platforms as well that are generated by the organization (Izadi et al., 2017). By generating this online platform the company is regulating the factor of competition and it is also coming to the field of marketing as well as generating more revenues and attracting more customers. The company has reacted to the competition correctly and in the last five years, it can be seen that the operations in the online platform have been done correctly with the help of the business models. There are various sorts of changes that have been found in the organization’s working environment over the most recent five years and the association has reacted legitimately too. A suggested by Enos, he association needed to meet certain danger based items and various kinds of charges for the wellbeing administrations that drive the income of the association (Enos, 2020).
The organization investigated the agent and this is perhaps the greatest change that has been influencing joint medical care gathering. Inspired by Huang & Rust, it is told that it very well may be perceived that adjustments in the organization’s working environment happen constantly however there are particular sorts of variables identified with the prudent vacillation that influences the changing environment of the organization and in this viewpoint joined wellbeing bunch has responded legitimately with the various kinds of changes that have been occurring in the organization’s working climate (Huang & Rust, 2017). From the outset, it is to be seen that UnitedHealth group in Corporation is one of the greatest and most proficient medical care suppliers and frameworks in this day and age and by the income. This organization takes various kinds of dangers and creates the income from an assortment of sources including the expenses from administrations the speculations just as the charges on various sorts of items.
‘Value’ for Customers
Value for customers is a factor and perception through which the products and services often organization tell how much worth is their customers and consumers for themselves. The value for customers also means the world through which UnitedHealth group is giving them the benefits and through this aspect, the different products and services that are offered by this organization differs from the solution of their competitors. UnitedHealth Group is an organization which provides diversified products and services for their customers. According to Fatima, this diversification of services and products is one of the main factors which differentiate the organization from the competitors and this is why the customers are attracted to the organization in a great manner (Fatima et al., 2018).
It can be understood that there are different types of leverage services that are added to the value of the United health group and the most important factor which adds value for the customers is the integrity of the organization as well as the compassion and innovation. The performance and the relationships that are taken forward by the UnitedHealth group help them to expand the affordability and also the great relationship with their customers (Gambarov et al., 2017). There are different types of services and products that are offered and the quality healthcare products is a factor through which the objectives of the organization are understood and this is the reason why their services are valuable for the consumers. In the healthcare system, the consumers need to understand that how their healthcare provider and healthcare service will help them in the case of emergency and the missions and values of UnitedHealth group prove to the consumers that they are grounded by values and compassion (Zhang et al., 2017).
The diversification of the products and services helps the organization to create the best opportunities for their customers to enjoy their services. The mission and the vision of UnitedHealth group is another factor that attracts the customer in a great manner because the changing environment of the organization has assured and guaranteed the customers that they will be serving them for the longest amount of time. The solutions are extremely different from their competition because the main aspect and main objective of UnitedHealth group are to help people healthily live lives so that a health system can work in a proper manner and in a better way for everyone and in this perspective the ranges of products and services that are offered by the organization are different from the competitors (Hammedi et al., 2017). The value for clients likewise implies the world would through which UnitedHealth group is giving them the advantages and through this angle, the various items and administrations that are offered by this association vary from the arrangement of their rivals.
As told by Hammedi, the mission and the vision of UnitedHealth group is another factor that extraordinarily draws in the client because the changing climate of the association has guaranteed a lot of the clients that they will serve them for the longest measure of time (Hammedi et al., 2017). The arrangements are incredibly not the same as their opposition because the fundamental angle and principal objective of UnitedHealth group are to help individuals carry on with lives in a solid way so a wellbeing framework can work appropriately and a superior route for everybody and in this point of view the scopes of items and administrations that are offered by the association are not quite the same as the contenders (Hammedi et al., 2017). United Health bunch is an association that gives expanded items and administrations to their clients.
The marketing strategy of the UnitedHealth group is extremely unique and the model that will be used in this factor is the 4Ps of marketing. The marketing strategy of this organization will be described by the product, promotion, price, and the police through which the innovation and the investment as well as their customer experiences help the brand to develop. This organization has different types of goals and objectives and with the marketing mix and the marketing strategy; the framework will be widely defined (Zhang et al., 2017). This association has various sorts of objectives and goals and with the showcasing blend and the promoting technique; the system will be generally characterized.
UnitedHealth Group is an organization that focuses on providing healthcare services to the people and their products and services have been helping more than 70 million people throughout the world. United Healthcare Group has different types of health benefits in certain platforms which operate through different types of geographical locations. As suggested by Zhang, the main product and service which is important for the organization to follow are the healthcare products related to individuals, employees, and also families (Zhang et al., 2017). The medical plans, the healthcare coverages, and also global health solution plans which are offered by the organization tell about the marketing mix strategy in the aspect of product and services.
UnitedHealth Group gives different types of products and services to several people and pricing is a factor that attracts most of them. Pricing of the different types of healthcare coverages or products varies from each other which are offered by the company. The pricing range of the plan depends upon the things included in it and also the coverage for the customer. As told by Gambarov, there are plans in which cheap pricing is available and there are also several types of plans in which the price goes high as well as the services (Gambarov et al., 2017). The pricing strategy of the UnitedHealth group includes different types of government health programs and private health programs as well. The clinical plans, the medical care inclusions, and worldwide wellbeing arrangement plans which are offered by the association tell about the advertising blend procedure in the part of item and administrations.
The place or the distribution strategy of the UnitedHealth group looks into targeting the market doing segmentation so that the different types of geographical locations can be served according to their needs. The people staying in different types of states have different types of needs and demands and the United Health Group has several products and services for those particular places (Gambarov et al., 2017). The organization has reached a global scale including Portugal, India, and Brazil. So looking into the demographical I suspect the policing strategy is covered with intelligence and also they cater to the needs of all locations. The United Health bunch gives various sorts of items and administrations to a few people and value is a factor that pulls in the vast majority of them. Valuing of the various sorts of medical care inclusions of items differs from one another which are offered by the organization (Enos, 2020). The spot or the appropriation system of UnitedHealth group investigates focusing available doing division with the goal that the various kinds of geological areas can be served by their requirements.
UnitedHealth Group has a distinguished promotion and advertising strategy. These two aspects help this organization to grow and also to work on the marketing strategies because the digital presence of this organization is extremely strong. This company uses several social media accounts including Facebook and Twitter. With the help of the digital presence and a great presence in social media, there are different types of people of various age groups that are getting to know about this organization (Enos, 2020). There is a broad variety of services in online platforms as well which the organization regulates. With this regulation, it can be understood that the organization is using a business model in which social media presents and the advertising strategies are extremely strong and crucial. Some social corporate responsibilities and efforts are seen as being presented by the organization for persisting different health challenges and their solutions.
Figure 2: 4Ps of Marketing
(Source: Martínez-Caro et al., 2018)
The most important recommendations that will be crucial for the UnitedHealth group to follow are building strong relationships with the customers. They give value to their customers but it is also important for the organization to have a loyal relationship with them. Building a strong relationship can also result in a successful business and could it can also demonstrate how the improvement of the lives of the consumers are taking place (Martínez-Caro et al., 2018). This will also give uniqueness to the reputation and the competition. Seeking to understand different types of perspective can help the UnitedHealth group to understand the different types of situations in which the healthcare services can make a change. Knowing the proper difference between good practice regulation and the policy is also important for this organization to grow and also a great recommendation. After that developing new strategies and new leadership, aspects are also important for the UnitedHealth group to reach new levels of success (Martínez-Caro et al., 2018). They certainly offer an incentive to their clients however it is likewise significant for the association to have a steadfast relationship with them. Building a solid relationship can likewise brings about an effective business and would it be able to likewise exhibit how the improvements of the lives of the purchasers are occurring.
The principal part of this task is to assess the UnitedHealth group as one of the greatest and fruitful medical care specialist corporations in the United Kingdom. From the start, advertising has been portrayed as a way of thinking just as the cycle on a reasonable end has been assessed also. After that, the presentation of the organization has been given and how it offers various sorts of items and administrations to the clients in the demographic factor and what are the primary contenders of the organization will be examined as well. The rundown has been given through which the organization has been working in the environment over the most recent couple of years and their experts have been made out also through which the organization has reacted. How the organization is making the incentive for the clients has been seen and how the organization is actualizing various kinds of advertising procedures to the clients will be sorted out also. Applicable proposals have been given to improve the endeavors of the United Health gathering.
The association UnitedHealth offers various sorts of medical care items just as administrations in healthcare. The UnitedHealth care is an association that is incredibly settled in the United Kingdom and they have included four kinds of divisions for their association. By producing this online stage the organization is directing a gracious factor of rivalry and it is likewise going to the field of promoting just as creating more incomes and pulling in more clients. The presentation and the connections that are taken forward by the United Health group assist them with extending the moderateness and the incredible connection with their clients. The showcasing methodology of UnitedHealth group is very exceptional and the model that will be utilized in this factor is the 4Ps of advertising. UnitedHealth Group is an association that centers on giving medical care administrations to the individuals and their items and administrations have been helping more than 70 million individuals all through the world. The evaluating system of United Health groups incorporates various kinds of government wellbeing projects and private wellbeing programs also.