Marketing analysis of unitedhealth
Second, UnitedHealth works with health care professionals and other key partners to expand access to quality healthcare so enable people get the care they need at affordable prices (UnitedHealth, 2019). Third, UnitedHealth supports the physician/patient relationship and empower people with the information, guidance and tools they require to make personal health choices and decisions. UnitedHealth’s mission statement provides extensively on what the organization does and whom it does it for. It is both a customer and product oriented mission statement. The mission statement mainly focuses on healthier lives for people and more efficient systems that work for every person (UnitedHealth, 2019). Optum also provides software to monitor health. This is in line with the company’s mission to improve health system’s performance as well as to improve the health and well-being of the individuals that the organization serves as well as their communities.
As a digital platform, Optum makes UnitedHealths services more affordable and customer oriented based on the ongoing shift towards digitalized services (Cariaga, 2015). In terms of price, UnitedHealth provides a variety of services which are different for the health coverage and products that are provided by the company. The prices of the coverage plans depend on the specific type of coverage that the customer accepts to have. Besides, the company has an international presence mainly in the UK, Portugal and Brazil. This implies that it services a wide variety of people and organizations that have a wide range of needs and financial capabilities (UnitedHealth, 2019). Based on the 5W model, the first point of analysis is who the organization’s current and potential customers are (Condron, 2019).
In the US, UnitedHealth mainly targets large employer groups. However, it also has a large number of individuals who use the company’s products. Also, the company has a website and various social media handles where information about the country can be obtained. The fourth W is why and how customers select the organizations products. This is based on the affordability, efficiency, accessibility and reliability (Condron, 2019). UnitedHealth is widely accepted, has wide range of options, relative affordable and innovative in terms of meeting customer needs. These are the main reasons the customers select the company. For example through its OptumIQ, the company is providing extensive data based on healthcare expertise, curated clinical data and data analytics that is backed by artificial intelligence (Cariaga, 2015).
In addition, the company also has pre check my script service which enables the customers to have a real-time check of their drug’s benefits which makes the services more efficient. This imply that UnitedHealth must package itself as a digital company that ensures that its customers have their services through more accessible channels such as their smartphones and computers. This also borders on the growing demand for advanced healthcare which UnitedHealth is working to provide through service such as Optum and OptumIQ (Cariaga, 2015). Another important external environmental factor is the increasing focus on commitment towards environmentally sustainable solutions. Its key competitive advantage comes from network optimization and market diversity (Lippman, 2014). In terms of market diversity, UnitedHealth has a large presence in the Medicare, Medicaid and commercial insurance markets.
It also has the military TriCare contract (Cox, & Semanskee, 2016). The company is also a first mover internationally as demonstrated by its acquisition of Amil Participacoes, a Brazilian health insurer (Guardado, Emmons, & Kane, 2013). This is a huge market where only 23% of the country is insured which implies that there opportunity for growth is massive. This is not only durable but also valuable. References Cariaga, V. UnitedHealth tops views as Optum unit drives gains. Investor’s Business Daily. Condron, A. At Aetna, a CEO’s management by Mantra. New York Times. Guardado, J. , Emmons, D. W. The Motley Fool. Retrieved from https://www. fool. com/investing/general/2014/05/28/3-reasons-to-like-unitedhealth-group. aspx Moghal, N. , & Coburn PhD, A. Health Insurance CO-OPs: Product Availability and Premiums in Rural Counties.
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