Branding and Communication Strategies in Healthcare Organizations: An Indian Study

Branding and Communication Strategies in Healthcare Organizations: An Indian Study

Sonopant Ganpatrao Joshi (Symbiosis International University, India)
DOI: 10.4018/978-1-5225-3150-0.ch013

Abstract

The Indian healthcare industry is third largest economy in the world. India's competitive advantage also lies in the increased success rate of Indian healthcare sectors. All organizations benefit from great branding, but it is more important in healthcare than any other industry. Creating brand is an important object in marketing in order to reach to maximum customers. Organizations across the world and in India are constantly striving to achieve excellent branding to attain top recall value of healthcare. Physicians, dentists, physiotherapist, nurses, nursing home owners, hospital administrators have many challenges regarding branding and communications of healthcare. It is an ideal for energizing their healthcare organization and sustain financially and operationally. This chapter explains what is brand, its strategies, how to develop branding of healthcare organization and how to manage brands. Many illustrations and case studies are described in this chapter.
Chapter Preview
Top

Introduction

The Indian healthcare industry is third largest economy in the world with USD 280 billion and it is continuously growing. The annual growth rate of this sector is expected around 23 percent during 2015-20. The factors which contribute for this growth are, raising financial status, more awareness among people, increased life style diseases and improved health insurance. Private sector plays very important role in healthcare sector of the country, both in national and international level. It accounts for 74 percent of total healthcare expenditure. India stands on the top for the world-class hospitals and skilled medical professionals. The Indian Government is stepping ahead to develop India as preferred destination for medical tourism. Government facilities have inadequate equipment and poor quality health services as a result private healthcare services mushrooming in the country. There is immense scope for growth for healthcare services in India. With 4, 50,000 tourists every year, the industry of medical tourism is estimated at USD 3 billion annually. This is the reason for strengthening the medical tourism and preferred destination for medical tourism (Tomey, 2008).

Private sector is diversifying and opportunities are emerging in every segment. With growing competitions, organizations are cognizant of new challenges and are looking to explore the latest business dynamics. The need of an hour is to identify and strengthen support pillars of healthcare delivery systems. These may include production of quality manpower, technology enabled solutions and adoption of low cost drugs and vaccines. Today general population has become wise, educated and more practical to make their own decisions. Instead of the old passive approach of just responding to the needs of the sick, healthcare institutes need to think proactively to builds trust and enables clients to stay well (Press Information Bureau, 2015).

Healthcare industry consists of hospitals, pharmaceutical companies, diagnostics, medical insurance companies, and medical equipment companies etc., which generate substantial revenue of which hospitals are at top profit making. Rise in the medical insurance sector and resultant increasing commercialization of the health sector have resulted in a competitive environment in the healthcare industry (Kotler, 2015).

Medical devices industry is growing very fast in India. High-tech Diagnostic facility is another investment opportunity for medical professionals. In short there is vast opportunities for investments in equipment, material and supplies to hospital industry.

In this technological era and growth of information technology healthcare sector has become more dynamic and growth oriented. There is substantial improvement in social media, mobile and digital technology. This has more impact on marketing, advertising and building a appropriate brand. It is now very easy to reach potential client than past. It is very wise for healthcare industry to use the technology and science to make a brand and grow with this challenging and competition world

Figure 1.

Five segments through which the healthcare market functions

Source: Hospital market-India, TechSci Research, January 2016
Top

Branding In Healthcare Sector: A Review

Brands have become integral part of our lives. Brand can be defined as a symbol, sign, name, or all of these elements combined together, that differentiates one maker of a product or service from the other. Advertising influences our day-to-day decisions. Our aspirations are probably just a step away from influencing our dreams. From use of car to mobile phones and till end our day with cup of coffee, everything we do is influenced by advertising. The world of advertising is organizations to create messages of persuasion to take the story of the brands to the customers. Healthcare branding is no exception from these principles (Kotler, 2012; Press Information Bureau, 2015).

Complete Chapter List

Search this Book:
Reset