Channel and Pricing Strategies
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Running head: CHANNEL AND PRICING STRATEGIES BLUE CROSS
Channel and Pricing Strategies Blue Cross
Marketing/571
January 10, 2011
Andrea D. Benjamin
Channel and Pricing Strategies Blue Cross
In week twos learning team assignment, Team A discussed the Blue Cross Blue Shield (BCBS) plan bringing new type Medicare coverage to citizens of Canada similar to the one currently in the United States. This week’s team paper will introduce the product to the international market in the United Kingdom (UK) that include channel and pricing strategies and justify the selection of the market selected.
Why the United Kingdom?
According to statistics (www.statistics.gov.uk), the population of the UK is aging. During the last 25 years, the population of individuals over the age of 65 in the UK has increased 15 to 16%, and predictions are this trend will continue. By 2034, 23% of the population in the UK will be over the age of 65. These statistics support the decision for Team A to make the UK their second selection for introducing our Medicare product internationally.
World Bank (2010) indicates there are 61,838,154 people living in the UK with 16% of that population over the age of 65. This means that almost 10,000,000 individuals over the age of 65 are eligible for retirement benefits within the country. The UK currently provides a state pension for individuals who have paid into the system; similar to the social security system in the United States. The UK is a single payer system publicly funded by the government and the state pension includes coverage from the NHS (National Health Service) that is free of charge to all citizens.
Although many people within the UK rely solely on the NHS, a large percentage elects to carry private insurance as well. Because members who use the NHS often have to wait a longer period for tests and major surgeries, providing these individuals with our product will allow him or her to...
Channel and Pricing Strategies Blue Cross
Marketing/571
January 10, 2011
Andrea D. Benjamin
Channel and Pricing Strategies Blue Cross
In week twos learning team assignment, Team A discussed the Blue Cross Blue Shield (BCBS) plan bringing new type Medicare coverage to citizens of Canada similar to the one currently in the United States. This week’s team paper will introduce the product to the international market in the United Kingdom (UK) that include channel and pricing strategies and justify the selection of the market selected.
Why the United Kingdom?
According to statistics (www.statistics.gov.uk), the population of the UK is aging. During the last 25 years, the population of individuals over the age of 65 in the UK has increased 15 to 16%, and predictions are this trend will continue. By 2034, 23% of the population in the UK will be over the age of 65. These statistics support the decision for Team A to make the UK their second selection for introducing our Medicare product internationally.
World Bank (2010) indicates there are 61,838,154 people living in the UK with 16% of that population over the age of 65. This means that almost 10,000,000 individuals over the age of 65 are eligible for retirement benefits within the country. The UK currently provides a state pension for individuals who have paid into the system; similar to the social security system in the United States. The UK is a single payer system publicly funded by the government and the state pension includes coverage from the NHS (National Health Service) that is free of charge to all citizens.
Although many people within the UK rely solely on the NHS, a large percentage elects to carry private insurance as well. Because members who use the NHS often have to wait a longer period for tests and major surgeries, providing these individuals with our product will allow him or her to...