Overview of Asssted Living Facilities

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Overview of Assisted Living Facilities
Richard Brady
BUS 620 Managerial Marketing
Prof. Debra McCoskey-Reisert
August 25, 2014

After reviewing several industries for this assignment, I chose the health care industry, specifically the Assisted Living portion. This industry right now is a very dynamic one with a lot of changes occurring on a consistent basis. Hence the ability to use an analysis tool would allow a good look into the potential of this industry. Finch explains in the text, that the information gathered when using a analysis or from an environmental scan “systematically assesses how elements of the external environment will impact a business or market.” It also “provides managers with relevant information to improve the quality of marketing decisions.”
The analysis that will be used, is the PESTEL model which identifies six different external factors that could affect a business, political, economic, social, technological, environmental, and legal.
Political influences on Assisted Living would include any federal restrictions that have been implemented. The biggest variable however, would be the state regulations. Assisted Living is currently regulated by each individual state. This makes doing business in multiple states a little confusing, and frustrating because you have to be familiar with each state’s expectations. When a state auditor comes to inspect your facility in Washington, there will be different expectations than when an audit is done in Montana.
Economical influences that would most affect an Assisted Living business would be variables such as location, price of the property, population, and the number of potential residents in a given geographical location. The ability to measure the amount of potential customers in a certain location is key to the success of the business. Baby boomers would be the market segment that…...

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