Emerging technologies and analytics for a new era of value-centered marketing in healthcare

Ritu Agarwal, Michelle Dugas, Guodong (Gordon) Gao, P. K. Kannan

Journal of the Academy of Marketing Science · 2020 · Volume 48 · Issue 1

Abstract

The healthcare system is undergoing a fundamental transformation fueled by regulatory shifts that reward value over volume, coupled with unprecedented advances in technological capabilities. To address the processes involved in defining, measuring, and delivering value in this shifting landscape, we develop the framework of value-centered marketing (VCM). Building on existing approaches in both healthcare and marketing, we propose three core dimensions of value in VCM: preferences, precision, and process. We also provide an overview of a trifecta of technological advances including the digital capture of health data, improvements in methodologies for data analysis, and exponential increases in processing power and storage capacity, which have created a perfect storm of opportunity for VCM. We describe how these emerging technologies can be combined with insights from marketing science to develop successful VCM strategy and highlight critical research questions. Finally, we discuss potential unintended consequences in the use of tech- and analytics-enabled healthcare.

Keywords

Health analytics, Health technologies, Healthcare marketing, Value-centered marketing

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