Published by MBA Skool Team, Last Updated: October 03, 2017
Marketing Strategy of Fortis Healthcare analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Fortis Healthcare marketing mix, help the brand succeed in the market.
Fortis Healthcare marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Fortis Healthcare Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Fortis Healthcare marketing strategy can be explained as follows:
Fortis Healthcare and hospitals are one of the most well equipped medical centres, hospitals etc which are spread across India. Fortis healthcare offers excellent medical services in its marketing mix in several key areas including complex organ transplant surgeries, Orthopedics, Mother and child health, Oncology, Cardiac Sciences etc. It operates 45 healthcare facilities across several locations with approximately 10000 potential beds and 314 diagnostic centers and several pharmacies. Fortis offers highly complex and innovative medical procedures with consistent outcomes as it employs highly experienced and skilled doctors and has been using precision robotic surgeries to reduce the recovery time and enhance the patient experience. Fortis hospitals are also recognized by international agencies such as Joint Commission International, USA and National Accreditation Board for Hospitals& Healthcare Providers, India which have helped it gain considerable international visibility in terms of its quality of healthcare for medical tourism.
Fortis Healthcare Price/Pricing Strategy:
Below is the pricing strategy in Fortis Healthcare marketing strategy:
Fortis healthcare is considered as a premium healthcare service provider as it competes in the same segment as that of Apollo hospitals and Max hospitals with its offerings focusing on patient experience by including world-class healthcare services and new technology to justify its higher pricing.
It also has several alliances with international partners such as Aetna, Bupa, GMC services etc. for providing quality services.
Fortis Healthcare Place & Distribution Strategy:
Following is the distribution strategy in the Fortis Healthcare marketing mix:
Fortis operates its hospitals across several tier 1 and Tier 2 cities in India such as Delhi, Amritsar, Kolkata, Mumbai, Mohali, Ludhiana, Jaipur, Chennai, Kota, Bengaluru, Gurgaon, Noida, Faridabad, and Odisha. Its head office is situated in Unitech Business park in Gurgaon, Haryana. Fortis also offers skype consultation with doctors to its patients regarding various procedures and surgeries as well. Further it also has a medical Kiosk setup at Indira Gandhi International Airport.
Further Fortis has a dedicated website to provide key information about its hospitals and practices to various customers and provides easy accessibility to them.
The promotional and advertising strategy in the Fortis Healthcare marketing strategy is as follows:
Fortis promotes its services through traditional as well as digital media with newspaper adverts, medical periodicals, YouTube and TV adverts. It has launched several awareness campaigns to urge people to take control of their health such as NDTV-Fortis Health4U campaign and spread cancer awareness campaigns with its most recent campaign focusing on urging people for organ donation for needful patients. It spreads brand awareness through these campaign as well as celebrity endorsements.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Fortis Healthcare & Hospitals
As the service provided by Fortis is high contact service with high credence attribute, it employs highly skilled doctors and staff consisting of administrators, ward boys, nurses, pharmacists, etc. to run theses chain of hospitals. Further it offers academic sponsorship to its employees to share their academic work in national and international conferences and offers incentives and rewards for publishing their articles in medical journals.
Fortis’ biggest physical evidence are its hospitals. As the healthcare services are high contact, the Physical Evidence plays a major role for it as both service operations as well as service delivery both visible to the customers. Fortis uses advanced healthcare management systems for providing patient care services. The hospitals have won many accolades to prove their success. They have standardized facilitating services which are offered in each hospital such as reception, waiting area, cafeteria, etc. Further it offers specialized rooms such as ICU, baby care, emergency wards etc.
Fortis hospitals have been adopting new technological advancements in their hospitals. The potential customers can visit the Fortis website and can take an appointment for consultation or plan their medical trip through it. They can also consult doctors online through skype. Further, the hospitals have reception and casualty wards through which the patient get admitted in the hospital. All the medical records are updated through their healthcare management system. Hence this completes the marketing mix of Fortis Healthcare & Hospitals.
About Fortis Healthcare:
Fortis Healthcare is a leading Indian chain of hospitals providing world class healthcare to the patients as it operates several multi-specialty hospitals in key areas such as cardiac care, renal care, neuro-science, orthopedics, etc. Fortis Healthcare Limited was first incorporated in 1996 with its first hospital established in 2001 to bridge the gap of supply and demand in Indian healthcare sector which provided lucrative opportunity for many private corporate hospitals. Since then within a span of 15 years, Fortis healthcare has grown rapidly into a chain of 45 hospitals across India acquiring other hospitals as well to counter the competition.
Further, in the year 2016-17, the company has recorded a revenue of Rs. 4500+ crores experiencing a strong annual growth.
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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