Justify the assembly of a balanced product portfolio by marketing managers as a means of ensuring extended success in the health care market industry. Provide two (2) real-life examples to support your rationale.
Assess the importance of portfolio planning in the health care industry, and determine at least one (1) approach to portfolio planning that can help marketing managers to ensure productive marketing operations. Provide at least two (2) specific examples of portfolio planning in a health care organization with which you are familiar.
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Balanced product portfolio in a company determines its future success as well as its position in the market. It should, therefore, contain the cash cow, star, and the question mark products (Cooper et al., 2001). In the healthcare industry, managers can ensure extended success in the facilities by use of such a portfolio. This is because they can be able to prioritize on which products to put on board first and which ones to place on hold. It will also help them formulate which health units will be funded first to make readily available and accessible to their patients (Cooper et al., 2001). For instance, a hospital in Asia may have its cash cow product as treatment and therapy of cancer and tumors and still practice surgery as the star (Cooper et al., 2001). They …

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