solved Many activities within healthcare are facilitated by the ability to

Many activities within healthcare are facilitated by the ability to convey value. Advanced medical research is funded by highly competitive grants. Health systems work to hire physicians, nurses, and other staff with highly technical skills and professional reputations. Hospitals compete for market share because empty beds and vacant clinics do not pay the bills. Even the ability to build or renovate a facility can depend on a compelling justification submitted to regulatory authorities and funding sources.A broad understanding of marketing, often more associated with commerce than healthcare, forms the foundation for navigating the diverse demands of designing and advancing a product, service, or brand. A myriad of stakeholders, evolving regulations, and changing customer expectations create challenges for the healthcare administrator seeking to define the purpose and value of a health services organization. Upon successful completion of the course material, you will be able to:Explain the basic principles of marketing and how they relate to healthcareResourcesVideo: “What Is Marketing? The Basics and Beyond”Background InformationThis discussion introduces basic principles of marketing and explores their application to healthcare.InstructionsReview the rubric to make sure you understand the criteria for earning your grade.Watch the video: “What Is Marketing? The Basics and Beyond” Navigate to the threaded discussion and respond to the following discussion questions:How do the concepts of product, placement, price, and promotion relate to healthcare?Is there a product lifecycle in healthcare?How does healthcare marketing differ from other products or services (for example, comparison advertising, emphasis, on quality)?What examples of healthcare marketing can you think of? What is distinctive about them? Which of the concepts of the 4Ps (product, price, place, promotion) is distinctive to you in each example? Why?