2 short discussion post replies with references 200 300 words
A nonprofit health care facility is funded by a charity, religious organization or educational/research funding. Due to this, the facility is exempt from paying income or property taxes. Any profits are reinvested into the facility and its health care services. The culture at a nonprofit is service-based. On the other hand, for-profit health care facilities must pay both income and property taxes. Any profits are distributed to its shareholders. The culture at a for-profit is business-based (Cheney, 2017).
Whether we like it or not, health care has become a business. Marketing for nonprofit and for-profit health care facilities mimics that of those in the business sector. Both are interested in generating revenue. However, the revenue comes from different sources. Nonprofits make their money through donations while for-profits make their money from consumers making purchases. Although the marketing for both nonprofits and for-profits is to attract attention to their facilities, it has to be done differently. Nonprofit marketing involves emotions. Calling attention to a cause, such as childhood cancer, tugs at your heartstrings and opens your wallet. For-profit marketing involves generating interest in their products/services and how you can benefit from them. Cosmetic procedures and surgeries highlighting their positive results can entice consumers to make the purchase (Speier, 2015).
Marketing has to target the appropriate audience to bring it that revenue. Both nonprofit and for-profit need to understand who their audience is and how to best reach them. Social media is a great way to reach several age groups, but not all. The same is true about traditional media. A typical twenty-something may never read a printed newspaper and only watch Netflix, receiving all information from Facebook or Instagram. An elderly person may not utilize access any social media or even a computer, but will read the daily paper and watch the 5:00 evening news. Marketing strategies must target all age groups with the appropriate media.
Both for profit and non-profit organizations are considered business markets (Buchbinder & Shanks, 2017). Business markets are organizations that acquire goods and services. Not for profit organizations encourage people to give something for nothing (Sandilands, N.D). For profit organizations seek money while not for profit organizations seek revenues to fund a mission (Sandilands, N.D). Marketing may be in the form of community engagements, sponsorships, and social media. Traditionally television and newspapers continue to assist in marketing.
The internet is a large source for information. In fact, most common internet activities involve researching health information. The internet is a huge source when it comes to marketing and promotional tactics. There are 2 types of marketing: 1. Social marketing, 2. Cause-related marketing. Social marketing is focused on influence of a behavioral change, specific target audiences, promoting public health, and benefits society as a whole (Buchbinder & Shanks, 2017). Cause related marketing on the other hand connects for profit companies and its offerings to a societal issue with the purpose of building brands and increasing profits (Buchbinder & Shanks, 2017).
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