Case of Mayo Clinic
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CASE OF MAYO CLINIC
Three main steps help to implement brand equity management system: creating brand equity charters, assembling brand equity reports, and defining brand equity responsibilities. However, at first, Mayo clinic did not apply this so they meet many problems in building brand. Therefore, we have some recommendations for Mayo clinic
BRAND EQUITY CHARTER:
First of all, we face many challenges to find out the brand equity charter document of Mayo. This document presents for you before, we must collect data base on the guideline of books definition being the reason why the brand equity charter is not clear and not show all its function. We meet with 1) lacking of information, 2) the inconsistency of data. However with the information we find out, it also show the good things that Mayo did 1) they define the word association for company, 2) they have many questions to measure in terms of the tracking study and resulting brand equity charter.
BRAND EQUITY REPORT:
From the brand equity report, our group found out two problems: 1) inaccurate beliefs that it serves only the rich and famous and the sickest of the sick were emotionally distancing and made Mayo seem inaccessible, and 2) the only succeed communicating tool is just word of mouth. Thus, in order to solve such two problems, we recommend that Mayo Clinic should build up an effective strategy for marketing Mayo Clinic brand. The awareness of customers about Mayo is over 90%, we should take this advantage to improve customers beliefs more accuracy. Then more customer segments go to be served at Mayo Clinic. Mayo should concern about other communicating tools to come to consumers closer, not only just focus on word of mouth.
In addition, the brand equity report has one part as brand value chain. However, with some information Mayo Clinic public, we can not determine all part of their brand value chain. Therefore, with a little information we collect, our group just list the marketing program investment and customer mind set of Mayo Clinic.
Marketing program investment
Product perception:
Outside Midwest perception of “only for rich/famous”
Know or Tertiary care not for private family care
Thus “not like me”
Communication:
Word of mouth is influential in selecting special care
1/3 know at least 1 Mayo patient
Customer minds set
Awareness:
84.3%, 90% among 45+
Special ranking: top ranked at 15.4% (next at 5.3%) go anywhere in US for serious condition which required highly special care
Brand association:
Strong brand at: scientific research, cancer treatment, cardiac care
Though and feeling
Integrity: longevity, heritage, wisdom of staff, trust in institution
Leadership: