The product strategy focuses on the quality of care the seniors and their loved ones are looking for. Twilight offers full-care, assisted care, and a social environment for the Baby Boomer generation. The company will have a competitive advantage over other senior care facilities because they will focus on customer’s needs. “When caregivers decide the best place for a loved one is in a nursing home, a caregiver wants to know that he was sending his loved one to be a reliable and safe place to live. Also, clients are looking for a clean environment and home-like atmosphere” (Hawthorne, 2015). A new facility provides an opportunity for the seniors to have a new and up-to-date facility to call home. Twilight has a branding opportunity to establish themselves in the senior market. To change the face of senior care and to live from the traditional facilities who offer limited resources for living outside of the facility they provide.
The product strategy for Twilight will be focused not only on the amenities the facility can provide, but also the care the staff will offer. “Staff that are friendly and encourage residents to be active in programs may also be viewed as more favorable in showing compassion and providing a comfortable environment. Keep customer needs in mind throughout this process as it will help keep your marketing plan focused on the customer” (Hawthorne, 2015). Twilight has created many relationships with businesses that will promote senior activities and outings. Seniors may have more limitations on their own ability to remain active, but Twilight will provide the option for seniors to continue their lives with the many activities available. The product strategy provides them a significant advantage over their competitors while promoting the best options for the seniors who utilize Twilight’s services.
Twilight has not determined the best location for their full-service facility. The analysis in the marketing plan has chosen several places where there is a need for senior care. The company has a competitive advantage because they can choose the place where there is a higher need for senior care. Entering a saturated market with a low senior demographics will inevitably set Twilight up for failure from the start. It is known that Florida and Arizona has a high number of senior residences; however, that does not mean it is the best location for Twilight. “Florida has the greatest proportion of people who are at least 65 (17.3 percent), followed by West Virginia (16 percent), Maine (15.9 percent), Pennsylvania (15.4 percent), and Iowa (14.9 percent). The state with the smallest share of 65-and-older individuals is Alaska (7.7 percent)” (Brandon, 2012). It provides a lot of options for placement of Twilight, they will need to analyze market saturation and other considerations in the placement of the facility.
Once a location is determined, the facility placement within the community would need to be considered. Having accommodations with open grounds and enough space for seniors to live freely, is important in the placement strategy. It is also important to have easy access to shopping and groceries, so seniors can venture out with minimal difficulties. The location is essential for easy access for the guests and accommodations that allow seniors freedom within the facility and outside of it as well. The location will also be vital for marketing, so it needs to be visually appealing and promote an environment that is inviting to the seniors. The placement strategy will be the most difficult part for opening Twilight; however, it can also provide them a significant advantage over their competition.
Twilight has many pricing strategies that they will utilize to remain competitive. The vast range of services provides options for all income levels. The traditional pricing for a full care facility is around $220 a day. “According to a 2015 Cost of Care Survey, the nationwide average daily rate for care provided in a private room is $250 and in a semi-private room is $220, which equals $91,250 and $80,300 per year respectively. For those living in a nursing home long term, they can expect to see nearly a 4% annual increase in the base rate” (Nursing Home, 2015). Providing many different options for the resident will allow them to find the best fit for their long-term care and accommodations. They will also comply with all government regulations enabling them to be eligible for Medicare, insurance, and other governmental funding where available. Not all patients will have the means to pay for the facility out of pocket, so Twilight needs to have many different pricing strategies in place which will allow residents of all financial positions.
Twilight has worked hard building relationships with many local attractions and entertainment venues to obtain discount prices, making them far more affordable for the seniors. It will attract many different residences by allowing them to remain active with their friends for a much lower cost. The pricing strategy will allow Twilight to bundle their facilities with their many different amenity options, positioning seniors to be able to do more and afford more. It will also increase the usage of Twilight’s services and ultimately their bottom line. Twilights pricing strategy will provide a competitive advantage because the seniors will get more for their money than other facilities can offer.
Twilight has a competitive advantage in their promotional strategy because they are a new facility entering a market where they can build their name. Twilight will create a promotional mix that will allow them to reach the seniors and their family. Personal selling is an option, but it will be limited to when the seniors come to inquire about the facility. Twilight will use social media, but on a limited level that will reach family members of older adults. Seniors do not usually use social media, but their loved ones may. It will get the Twilight name and their services out to the community. The company will also utilize advertising as one of the primary promotional strategies that will reach the senior community. Newspapers, magazines and television will be the primary methods of advertising. The senior community still utilizes the ‘old fashion’ media outlets and will provide excellent tools for Twilight to use.
Besides advertising to reach the general community, Twilight will use sales promotions to attract seniors to the facility. Twilight believes that once the seniors experience the service, care, and amenities that are available, the company will sell itself. Offering a free or discounted month will get seniors into the facilities, and they can experience what life at Twilight will be like. The company will also use referrals and word-of-mouth to market the name, Twilight, and allow the community to know the facility is now available. Capturing the market will be dependent heavily on the promotional strategy that Twilight takes prior to opening and even after it is in full operation.
Brandon, Emily. (2012). 65-and-Older Population Soars. Retrieved from http://money.usnews.com/money/retirement/articles/2012/01/09/65-and-older-population-soars
Hawthorne, Madison. (2015). How to Develop a Marketing Plan for a Nursing Home. Retrieved from http://smallbusiness.chron.com/develop-marketing-plan-nursing-home-26293.html
Nursing Home Cost. (2015). Retrieved from http://www.seniorhomes.com/p/nursing-home-cost/
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