THE TEN Ps MARKETING FRAMEWORK for HEALTHCARE AT LOW COST

Dr. Manita Shah, Julie Sunil

Abstract


Frugal Innovation in healthcare is the key to inclusive growth and development, especially for a developing country like India.  It has become a strategic option not just for aspiring entrepreneurs, social enterprises or government agencies but also for MNC’s. The swelling population puts the onus of healthcare on the public sector; however, the contribution has been static where the 12th Five Year Plan envisages public funding on core health at 1.87 percent of GDP.  In order to reach such a vast market, sound planning and implementation of marketing will have to be employed to make the opportunity a win-win model for both the public and private investors.

The low cost solutions which meet quality standards, has endeared the offering to multiple market segments within India and to global markets. This widening market base has led to volumes that has driven down the costs for patients and opened the options for differential pricing for the entrepreneurs. The lead potential of India has resulted in reverse innovation and had given India a vantage point in global healthcare branding and marketing. The positive outcome on health tourism has benefitted the Indian economy.

The paper studies twelve cases of successful low cost health care products and services and has identified the 10 Ps framework that commonly thread the underlying low-cost healthcare delivery process.

Keywords


healthcare, low-cost, innovations, entrepreneurs, marketing

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References


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