Marketing research is a one-on-one strategic examination employed by firms to discover the buying ability of specific consumers so as to find ways of increasing their buying abilities. This process is intertwined with another complementary strategy referred to as market segmentation in which the homogeneous groups of customers are distinguished and thus the same manner can be used to target them since they have similar needs (Editorial Introduction to the Special Issue on Market Segmentation, n. d.). The objective of the firms using the intertwined strategy is to appeal and consequently influence the consumer’s decision -making process. The main objective of the essay paper is to study the lifestyle profile that can be used as the demographic profile for potential patients in Cook County hospital.
Cook County hospital is a public teaching hospital in an urban center of Chicago and is one of the medical facilities in my neighborhood. The hospital is capable of providing primary, specialty and tertiary health care services. Approximately five million residents are served by 300 attending physicians as well as 400 medical fellows and residence. The hospital takes pride of being the largest concentration of medical facilities and also hosts one of the most respected emergence rooms in the country as a whole. It is spacious enough to comfortably accommodate patients, the physicians and the entire staff of Cook County hospital.
The lifestyle profile of the Cook County hospital neighborhood is significant since it provides the inner perception of the hospital. The number of people who have cooperated during the lifestyle profile writing in the region will give the first indication of this perception. Hypothetically, if and only if there is a free participation in the exercise of large number of people from the neighborhood, then there is a positive perception. Then, examination of the accuracy and quality of the information or data obtained whereby the perception is regarded positive when the people are willing to give accurate information concerning them and if they are not , then the perception is negative.
The insight perception of Cook County hospital neighborhood is to assess the ability of the participants to follow the instructions given to them during their visit to the hospital. A client, for instance, may receive instructions from a doctor to cease from eating certain kinds of food in order to achieve a given desired health related result. If the client readily follows this instruction which is actually a prescription and then indicates that prescription in the lifestyle profile, then it is concluded that the perception is positive. On the other hand, if both or either instances are missing, then the perception is negative
The factors which determine the technique to be used during segmentation are cost, other than that of carrying the research and also strategy implementation costs. The two ways by which Cook County hospital can segment their market are the a priori segmentation which is the best method of segmenting markets. Cook hospital will use this method to have the market split according to the demographic criterion already existing such as sex and age among other important factors. Alternatively, the life stage method, which seems to be a more sophisticated segmentation method, can be used. Its application involves a combination of information about the presence of children, age and also the working status of the adults. For comparison purposes, it is easy to define segments created by A priori and even easier to target them with advertisement. It is also the simplest to use and also easiest to apply. For instance, while still on the pre-existing information, sorting of the database can be done.
The accuracy of the collected information from the demographic and psychographic ways is not guaranteed based on the fact that both ways rely on self- reported information. Most people when asked to give information about an issue, they tend to provide what they think is desirable and not the facts or what they know is true. In most cases, they tend to give false information, for instance, some overstate or understate their salary sizes. So, when doing the analysis a marginal error should be created since not everybody in the neighborhood would give true information of what concerns their personal life and this contributes to inaccuracy of the information collected (Minutes of the meeting, n.d.).
For various reasons such as embarrassment, wanting to hold some sort of information confidentially or just being annoyed about something about the subject matter people tend to shy off from revealing information about them. Consider also a case where a member from the Cook hospital neighborhood is required to provide information through downloads. There is great possibility of entering incorrect data and for that matter; clients are asked the usage of media as well as disposition of the products. Alternatively, customers may be required to connect demography to the disposition of the products. Therefore, the two methods are not accurate under normal circumstances since the behaviors of the members in the neighborhood are not related to demography (Finding Your Audience through Market Segmentation, n. d.).
In order to develop a strong marketing plan, market research and segmentation analysis together with selection of a particular audience segments are very essential. Identifying the true customers for an organization poses a big challenge. Thanks to lifestyle profiling which helps to identify the actual needs and perceptions of the targeted audience in the neighborhood. Also helpful in solving the problem of segmentation is the demographic and also psychographic ways of obtaining information from the audience despite the fact that they are not reliable due to their high level of inaccuracy. For Cook County hospital, market research and segmentation is important since it helps to identify or target certain appeals of potential patients for the facility. The size of the hospital demands a high level of service provision to maintain and improve the high status it has earned overtime.