Growth matrix analysis in medical tourism is used by strategic management and includes four marketing strategies in order to enable economic growth of medical tourism hospitals and clinics
A 2-hour hands-on, interactive workshop available to add to any event or conference as a pre-or post conference offer.
This matrix is part of a company’s application of strategic management that attributes the profitability of the company to their business fields and products. To reach their goals of economic growth, medical tourism hospitals and clinics must increase market sales or contest new markets. Maria Todd explains how the medical and wellness tourism businesses. The four forces that define marketing strategies are market penetration (increase of market sales), market development (create new market segments), product development and diversification (i.e., joint ventures). Each strategy includes varying growth potentials as well as risks which can be determined by using the Growth Matrix explained in class. But it doesn’t end there. She then shares lessons learned so that participants can take home knowledge from her extensive experience and know-how as she explains HOW to use this data and implement the strategy in general terms appropriate for class discussion.
Maria Todd will share this growth matrix and how she uses it to her clients’ benefit in her consultancy after more than 30 years in medical tourism business. She explains – in detail – HOW a medical tourism hospital, client or other facility can and should use the four growth factors and shares outline action plans that participants can take home for their own use. Furthermore, she shares detailed information on various market and product types to illustrate market penetrations and interconnections. Maria will also address the most frequent articulated objectives of health and wellness tourism stakeholder suppliers including hospitals, clinics, physicians, dentists, rehab centers, hoteliers and spa operators interested in growing their medical tourism and joint-venture potential. She will also review and share technical checklists that participants can implement immediately upon return to their facilities and share links to enable workshop participants to easily obtain additional information on their own.
How Growth Matrix Helps a Medical Tourism Business Owner
If a medical tourism hospital or clinic has regional or international market growth as a goal, then they can see which of the basic strategies are assigned in the matrix. Illustratively, the strategy can be determined between selecting a recommended growth strategy (area of capital commitment, fields at the top right) for each business unit or an offensive or defensive strategy, or zones of selective strategies.
Workshop participants leave with worksheets and checklists, and various forms that can be filled quickly and easily by replacing placeholders with your own business units. The assessment of these units is done via separate weighting matrices in which they will be judged on the criteria of the individual dimensions of relative market attractiveness and competitive strength. These factors are clearly listed and contain a description to help participants use the analysis to gradually implementing the growth matrix analysis in medical tourism.
The top 3 learning objectives for the workshop
- Examination of the growth matrix analysis for medical tourism and its various applications
- Acquire ideal strategies for further development of medical tourism market approach and marketing strategies
- Learn how to easily prepare graphic illustrations that show statistical data in an easy to understand layout.
Program ID: D1101
How to offer this workshop at your next medical tourism conference:
Contact Maria Todd for details, schedule availability and pricing. +1.303.823.4662
*This workshop is also for private hands-on learning at your hospital, clinic or other medical tourism facility or hospitality establishment.