Posted in Banking & Financial Services, Total Reads: 716
SWOT Analysis of Centene Corporation with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis
Better health outcomes at lower costs
Local approach in providing accessible, high quality and culturally sensitive healthcare services
Healthcare and commercial organizations
Cost-effective coverage solutions targeted to low-income populations through locally based health plans along with a wide range of specialty services
1. Fortune 500 company with 4.8 million customers across 23 states 2. Health Insurance Marketplace (HIM) ambetter, provides a way for people to find health plan options 3. Centene Corporation and its programs have been awarded national recognition for comprehensiveness, innovation, and improved outcomes 4. Various programs for Community investment, Philanthropic work and Staff development
5. Subsidiaries spread across range of healthcare services
1. Does not cover some of notable facilities as noticed in controversy of Superior Healthplan 2. Low interest rate scenario in the US hurts the profitability of insurers in the US 3. Since 2013 dip in insurance penetration i.e. insurance premiums as a percentage of GDP 4. Target group of low income population makes customer retention and acquisition a major challange
1. Low income group segment is still naïve but high potential consumer base in insurance industry 2. More product offering and services and trying to attain first mover advantage in certain segments 3. Focus on providing complete healthcare solutions
1. Low income group consumers can switch easily to other competitor brands if lower price is offered by them
2. Dilution of brand equity in insurance due to increased focus on other healthcare services 3. Highly competitive market
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