The Growing Market Of The Healthcare System For The...

Introduction Over the course of this class on Strategic Marketing, I have focused my research around the industry of elder care. I have mentioned in the proceeding weeks that the growing market of the healthcare system for the elderly population has been projected to accelerate over the next several years. This is mainly due to the baby boomer generation coming to an age in which ailments affects a persons’ ability to remain totally independent. It is in this current decade that these seniors will require increased assistance in their daily lives. Long term care has become a booming industry, creating profits in excess of $50 billion in 2003 alone (FranchiseHelp Holdings, 2015). Over the last few decades the senior care industry as seen†¦show more content†¦This can be accomplished by meeting some of the more detailed oriented needs of seniors, such as lower-level storage drawers and lever-style door handles (Berman, n.d.). By also providing specialized care for those with specific ailments, as in memory-loss or dementia, facilities can hone in on their ability to cope with and provide the needed services to seniors as their illnesses progress (Berman, n.d.). These strengths will reassure clients and provide a competitive advantage in the industry. Competition mainly surrounds the reputation and quality of care provided by the individual facilities (FranchiseHelp Holdings, 2015). The ability to acquire and maintain an adequate supply of healthcare works with the necessary qualifications and compassion required for the job will prove to be one of the biggest challenges of the industry. Targeted marketing schemes will prove to be a beneficial quality of any elder care marketing team. Facilities located in areas in which income for their clients is substantial, can shine awareness on their services and the peace of mind their facility can bring to the families of seniors (Berman, n.d.). Other opportunities of growth can be established in additional convenient-services, for example an on-site pharmacy where residence can fill their own prescriptions. The objective of an elder care