Branding Strategies for Health Care Business Good branding

Branding Strategies for Health Care Business

“Good branding helps the patient recall the hospital name faster and helps the target customers to get hooked to the brand, whereby improving the brand value” 2/24

Branding is all about taking care of people's emotions and each employee is a brand ambassador of the hospital 3/24

Brand Elements Positioning: differentiation Identity: brand name, logo, color scheme Brand Mantra: promise, supports, transactions Unique features: points of differentiation, USP (unique Selling proposition) Personality: behaviors. Expressions, communications Values: benefits over costs to patients 4/24

Key Factors Emotional bond between the hospital and patients A team oriented, collaborative approach to patient care through integration Aiming at patients’ satisfaction to gain loyalty and referrals HR management and internal branding 5/24

Brand Marketing Concepts Top management as a Brand Steering Team Appointing a brand manager or brand guardian Cultivate brand culture and reward system to create brand ambassadors, brand champions, and brand advocates Design customer and colleague interaction to gain excellent interface 6/24

Steps in Strategic Brand Management Identifying and establishing brand positioning Planning and implementin g brand marketing Measuring and interpreting brand performance Growing and sustaining brand value 7/24

What is Health Care Branding? Health Care Branding is endowing hospitals (or clinics) and services with the power of the brand equity 8/24

What is Brand Equity in Health Care Business? Brand equity is the added value endowed on hospitals and services, which may be reflected in the way patients and relatives, think, feel, and act with respect to the brand. 9/24

Brand Knowledge Thoughts Feelings Knowledge Images Beliefs Experiences 10/24

Advantages of Strong Health Care Brands Improved perceptions of hospital’s performance Greater loyalty Less vulnerability to competitive marketing actions Less vulnerability to crises Larger margins More inelastic consumer response Greater alliance cooperation Increased marketing communications effectiveness Possible expanding opportunities 11/24

Key Components Differentiation Energy Relevance Esteem Knowledge 12/24

Brand Dynamics Pyramid Strong Relationship Bonding Advantage Performance Relevance Presence Weak Relationship 13/24

Brand Resonance Pyramid

Drivers of Brand Equity Brand elements Brand marketing activities Brand communications Brand symbolic meaning Brand emotional association 15/24

Brand Elements Brand names Expression Personality Positioning Elements Logos Values 16/24

Internal Branding Choose the right moment Brand culture Brand alignment Link internal and external marketing Bring the brand alive for employees 17/24

Secondary Sources of Knowledge about Health Care Brands 18/24

Measuring Brand Equity Brand Audits Brand Tracking Brand Valuation 19/24

Managing Brand Equity Brand Reinforcement Brand Revitalization Brand Crises Management 20/24

Brand Naming Individual names Blanket family names Separate family names Corporate nameindividual name combo 21/24

Reasons for Brand Portfolios Increasing market segments with different positioning and unique features Attracting patients seeking variety Increasing internal competition within the firm Yielding economies of scale operation A part of growth strategy 22/24

Brand Roles in a Brand Portfolio Flankers Cash Cows Low-end Entry-level High-end Prestige 23/24

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