Posted by Sabrina Warren on May-02-2023
This case study presents a detailed strategic analysis of The Development of a Strategic Plan for Healthtrust Utah. The case analysis covers key managerial and strategic issues that The Development of a Strategic Plan for Healthtrust Utah is currently facing due to challenging internal and external environments. The case solution first conducts the strategic analysis by applying the relevant strategic management tools and frameworks, and then presents strategic recommendations based on overall analysis (Hamilton and Webster, 2018).
The case offers a holistic view of The Development of a Strategic Plan for Healthtrust Utah business environment. Case findings are relevant for all key stakeholders of The Development of a Strategic Plan for Healthtrust Utah. Reader should first read the case on The Development of a Strategic Plan for Healthtrust Utah, and then read the analysis.
The external business environment comprises political, economic, social, technological, legal and environmental factors that influence the strategic positioning of The Development of a Strategic Plan for Healthtrust Utah (Khalid and Rahman, 2019).
Here are key external environment characteristics:
External environmental forces are dynamic and uncontrollable
External environment can directly influence the The Development of a Strategic Plan for Healthtrust Utah strategic positioning
External environment requires continuous monitoring to timely identify the potential threats and opportunities (Shtal et al. 2018).
The The Development of a Strategic Plan for Healthtrust Utah must carefully examine the potential impact of global political unrest on its business operations
The The Development of a Strategic Plan for Healthtrust Utah should actively monitor, and respond to the changes to legislation
The The Development of a Strategic Plan for Healthtrust Utah should analyze how taxation policies can influence its profitability in different countries where the company is currently present (Khalid and Rahman, 2019).
Rising GDP and growing consumer spending can help The Development of a Strategic Plan for Healthtrust Utah in business expansion
Increasing interest rates can increase the debt cost for The Development of a Strategic Plan for Healthtrust Utah.
Reducing inflation can decrease the production cost of The Development of a Strategic Plan for Healthtrust Utah and increase profitability by driving up the sales revenue (Begley et al. 2005).
The aging population can affect the The Development of a Strategic Plan for Healthtrust Utah brand positioning, as The Development of a Strategic Plan for Healthtrust Utah currently targets young people.
Growing preferences for luxury items, and improving lifestyles can create more demand for The Development of a Strategic Plan for Healthtrust Utah premium-priced products (Perera, 2017).
Government is granting more technology incentives to fuel the innovation. It can help The Development of a Strategic Plan for Healthtrust Utah achieve its innovation objectives.
Emerging automation trends require The Development of a Strategic Plan for Healthtrust Utah to revisit its business model, and enhance process efficiency.
Improving technological infrastructure can enable The Development of a Strategic Plan for Healthtrust Utah to resolve its supply chain inefficiencies (Shtal et al. 2018).
The stringent environmental regulations require The Development of a Strategic Plan for Healthtrust Utah to ensure strict compliance with environmental standards.
Consumers’ growing environmental consciousness provides an opportunity to The Development of a Strategic Plan for Healthtrust Utah to launch more green, environment-friendly products.
The Development of a Strategic Plan for Healthtrust Utah should incorporate environmental thinking in its strategic decision-making process to position itself as a socially responsible organization (Moser, 2015).
The The Development of a Strategic Plan for Healthtrust Utah should take strict measures to avoid discrimination at the workplace.
The The Development of a Strategic Plan for Healthtrust Utah must abide by the consumer data privacy laws to avoid reputation-damaging lawsuits
The The Development of a Strategic Plan for Healthtrust Utah must also ensure strict implementation of workplace safety standards to comply with the health and safety regulations (Khalid and Rahman, 2019).
The growing number of suppliers is weakening their bargaining power against The Development of a Strategic Plan for Healthtrust Utah (Dobbs, 2014).
The Development of a Strategic Plan for Healthtrust Utah has a wide supplier network, which strengthens its negotiation ability.
Low product differentiation further reduces the supplier bargaining power, as The Development of a Strategic Plan for Healthtrust Utah can easily switch to suppliers that offer better terms and conditions (Dobbs, 2014).
Overall, the bargaining power of suppliers for The Development of a Strategic Plan for Healthtrust Utah is low.
There are a small number of buyers that buy in large quantities. It enhances their bargaining power against The Development of a Strategic Plan for Healthtrust Utah (Cho et al. 2019).
Buyers are price insensitive, and cannot easily switch to other companies due to economic and psychological switching costs. It reduces their bargaining power against The Development of a Strategic Plan for Healthtrust Utah.
High product differentiation further discourages the buyers from switching to competitors (Dobbs, 2014).
Overall, the bargaining power of buyers is moderate-to-low for The Development of a Strategic Plan for Healthtrust Utah.
High entry barriers make it difficult for new entrants to enter in the market
The high initial capital expenditure also erects an entry barrier for new firms
The Development of a Strategic Plan for Healthtrust Utah has a loyal customer base, which further reduces the risk of customers switching to new entrants (Grundy, 2006).
Overall, threat of new entrants for The Development of a Strategic Plan for Healthtrust Utah is low.
The emerging innovative technologies are increasing the threat of substitutes for The Development of a Strategic Plan for Healthtrust Utah
Growing threat of substitutes is compelling The Development of a Strategic Plan for Healthtrust Utah to continuously improve product quality (Bruijl and Gerard, 2018).
Changing consumer demographics and their growing tech-savvy nature is further increasing the substitute threat for The Development of a Strategic Plan for Healthtrust Utah
However, the brand loyalty increases the psychological switching costs, which somehow reduces the substitute threat (Dobbs, 2014).
Overall, the substitute threat for The Development of a Strategic Plan for Healthtrust Utah is moderate to high.
The competition among existing market players is intense
The market is mature, and is approaching saturation point, which further intensifies the industry rivalry
However, high-quality differences and brand loyalty deters the customers from switching to competitors (Dobbs, 2014).
Overall, the industry rivalry is moderate to high, which makes the business environment challenging for The Development of a Strategic Plan for Healthtrust Utah.
Up till now, the case study presented a holistic environmental and industry-level analysis. This section now presents the The Development of a Strategic Plan for Healthtrust Utah level analysis by applying relevant tools and frameworks.
SWOT is a strategic management framework that helps The Development of a Strategic Plan for Healthtrust Utah in understanding its core strengths and weaknesses. Framework also identifies opportunities and threats that reside in The Development of a Strategic Plan for Healthtrust Utah’s external business environment (Helms and Nixon, 2010).
The The Development of a Strategic Plan for Healthtrust Utah holds a market leadership position, and has highest market share.
The The Development of a Strategic Plan for Healthtrust Utah has high customer loyalty, which makes it difficult for competitors to attract its customers.
The The Development of a Strategic Plan for Healthtrust Utah has strong financial health, which allows the company to spend heavily on R&D, and fuel the innovation (Sarsby, 2016).
The The Development of a Strategic Plan for Healthtrust Utah has successfully positioned itself as a responsible corporate citizen.
The The Development of a Strategic Plan for Healthtrust Utah has a wide supplier and distribution network, which helps in the business expansion (Valentin, 2001).
The The Development of a Strategic Plan for Healthtrust Utah currently has a high employee turnover rate.
The The Development of a Strategic Plan for Healthtrust Utah is facing supply chain inefficiencies, which are lowering the organizational productivity (Madsen, 2016).
The The Development of a Strategic Plan for Healthtrust Utah is unable to quickly resolve the customer complaints, which causes customer dissatisfaction (Helms and Nixon, 2010).
The hierarchal structure of The Development of a Strategic Plan for Healthtrust Utah causes resistance to change.
The Development of a Strategic Plan for Healthtrust Utah can invest on emerging automation and artificial intelligence technologies to improve the process efficiency
The Development of a Strategic Plan for Healthtrust Utah can accelerate the green product development, and invest on green marketing efforts to capture the attention of environment-conscious customers (Solaiman et al. 2015).
The Development of a Strategic Plan for Healthtrust Utah can invest on an online influence marketing strategy to expand the reach to a young population
The Development of a Strategic Plan for Healthtrust Utah can find strategic partners around the globe to achieve its expansion objectives (Sarsby, 2016).
The growing industry competition among existing players and thinning profit margins has become a major threat for The Development of a Strategic Plan for Healthtrust Utah
Global political unrest can negatively affect the The Development of a Strategic Plan for Healthtrust Utah performance at the international stage
The expanding grey market and the influx of replica goods can negatively affect the The Development of a Strategic Plan for Healthtrust Utah revenue (Davidson et al. 2019).
Aging population can threaten the The Development of a Strategic Plan for Healthtrust Utah survival that, primarily focuses on young customers
After presenting the SWOT analysis, the next framework analyzing the The Development of a Strategic Plan for Healthtrust Utah’s marketing mix strategies.
The Development of a Strategic Plan for Healthtrust Utah offers a wide product variety that meets the needs of diverse customers
The Development of a Strategic Plan for Healthtrust Utah has consistently maintained high product quality to justify premium prices
The Development of a Strategic Plan for Healthtrust Utah invests heavily on the quality improvement and management to meet the customers’ product quality expectations (Singh, 2012).
The Development of a Strategic Plan for Healthtrust Utah invests on innovative marketing and communication strategies to set a clear product positioning, and communicate how its products are different from competitors.
The Development of a Strategic Plan for Healthtrust Utah offers warranties and after-sale services that enhances the overall customer experience (Ferrell et al. 2021).
The Development of a Strategic Plan for Healthtrust Utah adopts a premium pricing strategy, which is aligned with the company’s premium brand image.
The Development of a Strategic Plan for Healthtrust Utah avoids offering price discounts to maintain brand exclusivity (Baines et al. 2017).
The Development of a Strategic Plan for Healthtrust Utah does not charge any hidden prices, and has integrated transparency in its pricing model
The Development of a Strategic Plan for Healthtrust Utah also offers value-added elements, and adopts a bundle pricing strategy to boost the sales (Giri et al. 2020).
The Development of a Strategic Plan for Healthtrust Utah offers credit payment options for the customer convenience.
Key factors that The Development of a Strategic Plan for Healthtrust Utah considers while setting the prices include- brand image, customers’ expectations and purchase capacity, and on-going competition.
The Development of a Strategic Plan for Healthtrust Utah adopts a selective distribution strategy to reach the target market
The The Development of a Strategic Plan for Healthtrust Utah chooses distributors who are located in urban areas, and can preserve the premium brand image
Currently, The Development of a Strategic Plan for Healthtrust Utah has a distribution network that is spread in more than 50 countries
The Development of a Strategic Plan for Healthtrust Utah has adopted Omni-channel strategy, and sells its products through multiple online and offline channels, including- official outlets, authorized distributors, the company website and mobile application (Palmatier et al. 2016).
Well-integrated Omni-channel strategy offers a seamless experience to the The Development of a Strategic Plan for Healthtrust Utah customers.
The Development of a Strategic Plan for Healthtrust Utah avoids offering promotional discounts to preserve the brand exclusivity.
The Development of a Strategic Plan for Healthtrust Utah invests heavily on the celebrity endorsement strategies to promote the brand among the target market.
The Development of a Strategic Plan for Healthtrust Utah also have a strong social media presence, and specifically focuses on the online influencer marketing strategy to create brand awareness (Varadarajan et al. 2010).
The Development of a Strategic Plan for Healthtrust Utah uses both- online and offline marketing and communication channels to promote the brand.
The Development of a Strategic Plan for Healthtrust Utah’s promotional strategy is well-aligned with other marketing mix components to develop a clear brand positioning (Palmatier et al. 2016).
The The Development of a Strategic Plan for Healthtrust Utah has a wide distribution network that is spread across the globe.
The The Development of a Strategic Plan for Healthtrust Utah has extensive research and development capabilities that fuel the innovation process.
The The Development of a Strategic Plan for Healthtrust Utah offers a seamless customer experience through a well-integrated marketing mix.
The The Development of a Strategic Plan for Healthtrust Utah has strong financial health, and free cash flow that it can invest on innovative projects.
The The Development of a Strategic Plan for Healthtrust Utah has a strong presence over social media that drives the customer engagement, and increases the company’s reach to the target market.
The The Development of a Strategic Plan for Healthtrust Utah has successfully attracted and retained highly skilled staff that drives the overall organizational productivity, and helps the company in achieving its innovation objectives (Cardeal and Antonio, 2012).
The Development of a Strategic Plan for Healthtrust Utah has built strong relationships with suppliers that enable the company to achieve production objectives even when there is a material shortage in the market
The Development of a Strategic Plan for Healthtrust Utah has access to the rare and hard-to-reach raw material that is used to produce top-quality products (Cardeal and Antonio, 2012).
The Development of a Strategic Plan for Healthtrust Utah has successfully developed a strong brand reputation that keeps customers hooked with the brand
The Development of a Strategic Plan for Healthtrust Utah shares a strong emotional connection with its customers, which increases the psychological switching costs for them (Hernández and Garcia, 2018).
The Development of a Strategic Plan for Healthtrust Utah has developed its image as an environment-friendly, sustainable, and responsible brand that takes care of all stakeholders.
The Development of a Strategic Plan for Healthtrust Utah has developed an in-depth knowledge of customers’ intrinsic motivational needs, and has developed its brand image in a way that shares close relatedness with customers’ desired self-image (Liu et al. 2012).
The Development of a Strategic Plan for Healthtrust Utah has secured exclusive agreements with the suppliers to get access to unique raw materials. The exclusive agreement makes this resource inimitable for The Development of a Strategic Plan for Healthtrust Utah
The Development of a Strategic Plan for Healthtrust Utah has strong transformational and charismatic top leadership that has always successfully led the organization through a crisis (Nusari et al. 2018).
The Development of a Strategic Plan for Healthtrust Utah has developed a robust organizational culture that promotes cohesion, and strengthens the employees’ affective commitment with the organization.
The Development of a Strategic Plan for Healthtrust Utah has secured the access to human capital (skills and expertise) that is needed to exploit the above-mentioned resources.
The Development of a Strategic Plan for Healthtrust Utah has a well-developed technical infrastructure that supports the business operations, and fuels the innovation process.
The Development of a Strategic Plan for Healthtrust Utah has built extensive expertise, and gained years of experience that helps the company in leveraging its core strengths to exploit the available opportunities.
The Development of a Strategic Plan for Healthtrust Utah has built strategic partnerships that help the company in pooling the resources together to gain a strong competitive edge over rivals (Cardeal and Antonio, 2012).
The core products of the The Development of a Strategic Plan for Healthtrust Utah fall in the star category. The Development of a Strategic Plan for Healthtrust Utah has secured market leadership in these categories
The Development of a Strategic Plan for Healthtrust Utah’s market share in these product categories is growing due to high market growth potential
The Development of a Strategic Plan for Healthtrust Utah should pay specific attention to these product categories, and should try to preserve the market share
The intensifying competition imposes a threat to the The Development of a Strategic Plan for Healthtrust Utah’s market leadership in the ‘Star’ category
Overall, The Development of a Strategic Plan for Healthtrust Utah should increase investment on the star category to maintain leadership in the growing market (Mohajan, 2017).
The Development of a Strategic Plan for Healthtrust Utah has several product categories in which the firm has attained the market leadership position.
However, the market growth in these product categories has become slowed with time, as the market has become mature.
The Development of a Strategic Plan for Healthtrust Utah should ‘milk’ these product categories as they are an important source of cash flow.
However, The Development of a Strategic Plan for Healthtrust Utah should avoid increasing investment due to slowed market growth, and should bring innovation to keep adding new features.
Overall, The Development of a Strategic Plan for Healthtrust Utah should aim to maintain the current market position, but avoid increasing the investment due to slow market growth (Kader and Hossain, 2020).
The Development of a Strategic Plan for Healthtrust Utah has some product categories that are in a growing market segment. Despite high market growth, The Development of a Strategic Plan for Healthtrust Utah is unable to increase the market share in these segments.
The products under this category have the potential to become stars, as they operate in a high-growth market.
But, extensive investment is needed to understand the reasons behind the low market share, and it can affect the cash flow of The Development of a Strategic Plan for Healthtrust Utah.
Therefore, The Development of a Strategic Plan for Healthtrust Utah needs to evaluate if it is feasible to increase the investment to drive the market share, or it is wise to divest from this market segment (Mohajan, 2017).
The Development of a Strategic Plan for Healthtrust Utah has one product that operates in a market with low growth potential
The Development of a Strategic Plan for Healthtrust Utah has only a marginal share in this market.
As growth in this market is stagnant, and market share is also marginal, The Development of a Strategic Plan for Healthtrust Utah may consider divesting from this market segment.
It will be unwise to invest in this segment, as this product has turned into ‘dog’, which means the product is aged and waning.
Here, two options are available to The Development of a Strategic Plan for Healthtrust Utah:
o First, The Development of a Strategic Plan for Healthtrust Utah may entirely refresh the dying product.
o Alternatively, The Development of a Strategic Plan for Healthtrust Utah may divest this product from the portfolio.
Considering the current business environment, and competitive dynamics, The Development of a Strategic Plan for Healthtrust Utah is recommended to get rid of this product by taking divestment decisions (Torquati et al. 2018).
The Development of a Strategic Plan for Healthtrust Utah aims to expand its business operations to strengthen the competitive positioning in the market. Ansoff matrix here can help The Development of a Strategic Plan for Healthtrust Utah in taking the right business expansion decision.
Four business expansion strategies available to The Development of a Strategic Plan for Healthtrust Utah are- market penetration, market expansion, product development, and diversification (Loredana, 2016).
Choosing the right expansion strategy is important for The Development of a Strategic Plan for Healthtrust Utah to achieve its expansion objectives.
The Development of a Strategic Plan for Healthtrust Utah can penetrate into existing markets by expanding the market reach. This strategy is recommended when the market has high growth potential.
The Development of a Strategic Plan for Healthtrust Utah can expand the market reach by increasing the customer loyalty, and encouraging them to increase the spending.
The Development of a Strategic Plan for Healthtrust Utah can use the influencer marketing strategy as a tool to create e-WOM. It will create brand awareness, spread the brand message, and enable The Development of a Strategic Plan for Healthtrust Utah to penetrate deeper into the market.
Some other ways through which The Development of a Strategic Plan for Healthtrust Utah can penetrate into the market is- to increase the marketing and promotional budget, making price adjustments, and improving the product quality to gain a larger share from the existing market (Shaw, 2012).
The Development of a Strategic Plan for Healthtrust Utah can find new geographic markets to launch its existing products
Another way to pursue this expansion strategy is through celebrity endorsements. Celebrities can help The Development of a Strategic Plan for Healthtrust Utah in finding new customers for existing products
The Development of a Strategic Plan for Healthtrust Utah can also consider adding new product dimensions, or revising the packaging to reach new consumer markets.
Another way to pursue this expansion strategy is by exploring new distribution channels. The Development of a Strategic Plan for Healthtrust Utah can strengthen its presence on e-commerce, and open multiple online sales channels to reach new customer markets (Hussain et al. 2013).
The Development of a Strategic Plan for Healthtrust Utah can also charge two different prices to expand the reach from high-end to middle-class customers.
The Development of a Strategic Plan for Healthtrust Utah can expand its business operations by pursuing a product development strategy.
Instead of adopting a reactive attitude by coping with the competitors, The Development of a Strategic Plan for Healthtrust Utah must proactively behave while launching new products. Some possible proactive product development strategies are discussed below.
To pursue a proactive product development strategy, The Development of a Strategic Plan for Healthtrust Utah may increase investment on research and development activities to bring the product innovation.
The Development of a Strategic Plan for Healthtrust Utah may also invest on the market research to identify and respond to the unmet customer needs (Katsikeas et al. 2016).
The Development of a Strategic Plan for Healthtrust Utah may consider strategic alliance and partnership options to launch new products. It will enable the company to pool the resources and capabilities together, and share risks while launching new products.
Acquisition of smaller firms can also enable The Development of a Strategic Plan for Healthtrust Utah to successfully launch new products in the comparatively shorter time span.
The Development of a Strategic Plan for Healthtrust Utah can adopt the diversification strategy to reach new markets through new products.
The Development of a Strategic Plan for Healthtrust Utah can pursue either a related or unrelated diversification strategy.
The related diversification strategy requires The Development of a Strategic Plan for Healthtrust Utah to enter in similar markets. But, unrelated diversification requires The Development of a Strategic Plan for Healthtrust Utah to find entirely new markets (Dhir and Dhir, 2015).
Unrelated diversification is riskier, and can affect the brand image. So, The Development of a Strategic Plan for Healthtrust Utah should pursue a related diversification strategy.
By pursuing related diversification, The Development of a Strategic Plan for Healthtrust Utah can horizontally and vertically add new product lines
Through successful diversification, The Development of a Strategic Plan for Healthtrust Utah can increase its profitability, and generate more revenue from the new products and new market segments (Loredana, 2016).
The in-depth strategic analysis of The Development of a Strategic Plan for Healthtrust Utah reveals some interesting insights. The Development of a Strategic Plan for Healthtrust Utah currently holds strong competitive positioning. However, the challenging business environment and intensifying competition require The Development of a Strategic Plan for Healthtrust Utah to adopt a proactive behavior. The Development of a Strategic Plan for Healthtrust Utah needs to continuously assess its external and internal business environment to timely identify the potential threats and opportunities. Here, the application of relevant strategic management tools and frameworks can help The Development of a Strategic Plan for Healthtrust Utah in making wise business decisions. The key to success in a such challenging and complex business environment is- to proactively respond to the external environment by leveraging core strengths, and overcoming the weaknesses.
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