Pick a health care organization with which you are familiar. It may be a health plan you belong to, a physician practice you visit, or a biotechnology business you have read about. Define its overall market - that is, the entire universe of customers who might be interested in purchasing its goods or services. Then, define at least seven meaningful segments into which that market could be divided.

Question

Quizplus · Accepted Answer

The Answer is Market assessment for a physician practice that specializes in orthopedics.
Its market includes those people who:

\bullet

are or believe they are suffering from diseases associated with their bones, joints, muscles or tendons.

\bullet

live or within 30 minutes traveling time of the practice office (beyond that distance, there are other similar competing practices available)

\bullet

live or work at a greater distance but are referred by another physician or satisfied patient

\bullet

live or work at a greater distance but are attracted by quality and cost data about the practice available publicly

\bullet

are insured by any one of several commercial payers or Medicaid, or are willing to pay out-of-pocket (the practice is not a Medicare participant)
Segments of that overall market include:

\bullet

individuals suffering from specific identifiable diseases within the practice's specialty (arthritis, osteoporosis)

\bullet

particular age or comorbidity groups more likely to suffer from those diseases (elderly, obese)

\bullet

one sex or the other, depending on whether there are different incidences of or attitudes toward the diseases

\bullet

patients with orthopedic problems associated with a certain part of the body (foot/ankle, hand/wrist, spine/neck, hip)

\bullet

orthopedic problems resulting from trauma

\bullet

sports-related orthopedic problems

\bullet

patients belonging to particular ethnic groups

\bullet

Medicaid and low-income patients who may have trouble finding good orthopedic care

\bullet

higher-income patients willing to pay extra for certain amenities

Pick a Health Care Organization with Which You Are Familiar