How much should hospitals spend on advertising?
Health Care Management Review
|January 1, 1987
Summary
This study introduces a scientific approach for hospital advertising budget allocation. It uses decision rules derived from extensive business research to guide financial planning for healthcare marketing efforts.
Area of Science:
- Business Administration
- Healthcare Management
- Marketing Strategy
Background:
- Hospitals currently employ various methods for advertising budget determination.
- Effective financial planning for marketing is crucial for healthcare organizations.
Purpose of the Study:
- To present a scientific framework for hospital advertising budget allocation.
- To enable healthcare institutions to optimize marketing expenditures.
Main Methods:
- Analysis of advertising practices across nearly 200 corporations.
- Examination of over 1,000 individual business advertising strategies.
- Development of decision rules based on empirical data.
Main Results:
- Identification of effective budgeting strategies from diverse business sectors.
- Quantification of factors influencing advertising budget decisions.
- A structured approach to hospital marketing finance.
Conclusions:
- Hospitals can adopt a more scientific methodology for advertising budgets.
- The study's decision rules offer a practical tool for financial planning.
- Optimized advertising budgets can enhance hospital outreach and services.
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