Target Market – ECRH’s Current Target Market, Consumer Demographics and Psychographics (Consumers’ Values, Attitudes, and Lifestyles)

Current Value Chain – Key Elements of ECRH’s Value Chain, How Each Helps the Organization Succeed, Factors to be Considered When Analyzing ECRH’s Value Chain, and How the Organization Builds Value in the Market

The value chain of ECRH is composed of the company itself, the marketing team, and the customers. Notably, this is a short chain to manage. The leadership only sets strategic objectives, and the marketing team communicates to the market, which, in turn, seeks the organization’s services (Eling & Lehmann, 2018). The company seeks customer feedback and integrates it into its strategic goals to maintain its value.

The company’s target market comprises women, older people, and children. However, it serves other general patients across Chestnut, Walnut, Maple, Oak, and Butternut counties. Notably, these counties are characterized by a high population with different demographic characteristics. For instance, Oak and Maple counties are composed of older people, while Chestnut County, which has the highest population, has a median age of 37.7 years.

External Environmental Factors – Impact of Political, Economic, Sociocultural, Technological, Competitive, and Legal/Regulatory Factors on ECRH

Various external forces influence ECRH. First, the organization faces competition from two main competitors and must struggle to cope with the competition. Also, the organization operates in an environment with high unemployment levels from an economic perspective. Thus, it has to employ members from the surrounding society even with the concern for the qualifications. Finally, the organization has a new CEO, and it should monitor the political forces to ensure the CEO is free from bringing political interests into the organization.

Conclusion

ECRH has adopted a promising approach to mitigating financial and ethical requirements. The analysis conducted above indicates that the company remains competitive. Thus, adopting a strategy with a clear mission, vision, and values will help them stay competitive in the market.

References

Eling, M., & Lehmann, M. (2018). The impact of digitalization on the insurance value chain and the insurability of risks. The Geneva papers on risk and insurance issues and practice, 43(3), 359-396.