UnitedHealth Group Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of UnitedHealth Group analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on UnitedHealth Group marketing mix, help the brand succeed in the market. Let us start the UnitedHealth Group Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
UnitedHealth Group Product Strategy:
The product strategy and mix in UnitedHealth Group marketing strategy can be explained as follows:
UnitedHealth offers their products through two business platforms to serve about 70 million people across the United States. UnitedHealthcare is a Health Benefits platform which serves different markets in different geographic regions. The company offers a broad range of health benefit products to individuals, families, employers and others. UnitedHealth offer health coverage, dental and vision coverage, Medicare and Medicaid plans, global health solutions, value based care and more as part of their marketing mix product strategy.
Optum is a new addition to the group which is a Health Services platform that focuses on improving the health care system and provides software and information products. Optum provides population health management, advisory consulting services and BPO services to the customers. It is a digital branch of the group that provides the soft-wares to monitor health.
Image: company website
UnitedHealth Group Price/Pricing Strategy:
Below is the pricing strategy in UnitedHealth Group marketing strategy:
UnitehHealth offer a varying range of services. Prices vary for health care coverage/ products offered by UnitedHealth group.
Price of plans are dependent upon on the type of coverage customer approve for. Customers vary from individuals to families, employers, physicians and brokers. United health group envisages to reduce the cost of health benefits. The company has Government Health Programs, Private health coverage, Municipal health coverage in United States.
Read more about UnitedHealth Group
UnitedHealth Group Place & Distribution Strategy:
Following is the distribution strategy in the UnitedHealth Group marketing mix:
UnitedHealth Group is present in United States. The company serves key markets areas and in different geographic locations. UnitedHealth Group offers its services of Medicaid beneficiaries into different 24 states of United States. UnitedHealth Group also targets international market as they haven’t penetrated other countries when compared to the US market. UnitedHealth care global is also reaching to markets in Brazil, India, Portugal and UK.
This covers the place strategy for its marketing mix.
UnitedHealth Group Promotion & Advertising Strategy:
The promotional and advertising strategy in the UnitedHealth Group marketing strategy is as follows:
UnitedHealth Care has its digital presence in social media accounts through Facebook, Twitter, You Tube, LinkedIn and RSS. UnitedHealth Group has broad variety of services such as Rally, your 24-Hour Nurse, Virtual Visits, Cost estimator. The Innovative tools used by the group also help in managing claims, tracking expenses, record and store family health information securely. UnitedHealth Group also promotes its products via the internet websites television ads, print ads in magazines and newspapers. Business Wire offers UnitedHealth Group mobile alerts. The company’s philanthropic CSR efforts offer solutions to persistent health challenges. The group’s customers also help communities by volunteering and contributing time and financial aids throughout the year. ‘CelebrateOne’ is a United Health Foundation Program which is focused on reducing Infant Mortality Rates(IMR).
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of UnitedHealth.
People:
UnitedHealth Group provides health care solutions to about 70 million people across the United States. The company has 200,000 total number of employees serving in the health care market. Nearly 65 million people benefit from the pharmacy care services provided under the OptumRx. The company is growing stronger every day.
Process:
UnitedHealth Group distributes its products through consultants and direct sales. The company employs the consultants to distribute the plans to its large customers. The company also hires wholesale agents that work on contract basis with health insurance companies. The company has state and community based insurance business. They also have contracts with state governments to offer health care services to Medicaid beneficiaries in return of payments.
Physical Evidence:
The company’s office is at UnitedHealth Group, Minneapolis. The company’s website is a showcase for all its services and its ease of use is effective for the customers. All these factors complete the marketing mix of UnitedHealth.
UnitedHealth Group Inc.
UnitedHealth was founded by a group of physicians who wanted to expand health coverage options for consumers. In 1984, the company became a publicly traded company. UnitedHealth Group Inc. is based in Minnesota, United States.
UnitedHealth provides health coverage to patients suffering from Diabetes and Cancer and other diseases. The company’s aim is to provide quality care to its customers at reduced cost.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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