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Lehmann & Winer’s Levels of Competition Model is a helpful tool to assist you in identifying and understanding the competition. Identify one health care product or service offering available within an 80-mile radius of where you live. Do some research to learn more about the specifics of the product or service, then construct a Levels of Competition Model for the product or service.
In the discussion, share a description of the Levels of Competition Model you created (or an image) and provide an explanation of what you learned from creating the model. Then provide an analysis of whether this is a practical tool providing rationale to support your response. In your analysis, consider whether there are limitations to the tool. +400 words, include references
The specific health care product or service offering I chose to explore is physical therapy. Physical therapy is a type of treatment that uses evidence-based techniques and exercises to help patients improve their mobility, strength, flexibility and overall function. Physical therapists use various modalities such as joint mobilization, therapeutic exercise, manual therapy and patient education to treat musculoskeletal injuries, neurological conditions and other medical issues.
To construct the Levels of Competition Model for physical therapy in my area I mapped out the competition based on geography as well as common factors related to this industry (Figure 1). The geographical area was an 80 mile radius from where I live in central Pennsylvania. Within this region there are five major competitors which are grouped into three tiers based on their market share: Tier 1 includes two large hospital systems with multiple locations throughout the state; Tier 2 consists of smaller independent practices that offer a variety of services across several counties; Tier 3 includes single location clinics with limited services offered within each county.
Figure 1: Lehmann & Winer’s Levels of Competition Model for Physical Therapy
Creating this model helped me gain more insight into the competitive landscape for physical therapy in my area by looking at the different levels of competition from both a geographical and service level perspective. This enabled me to identify potential opportunities where I could differentiate myself from others while still providing quality patient care. It also gave me better understanding how each competitor fits within the larger marketplace so I can adjust my strategy accordingly when marketing my practice or expanding into new areas. For example, if there were any gaps in terms of coverage or services between what’s being offered by competitors then it might be beneficial for me focus on those areas so that customers have easier access to those treatments within our local community instead having search outside our geographic range for them .
Overall I found Lehmann & Winer’s Levels of Competition Model very helpful tool when analyzing potential markets before launching a business or expanding existing operations . Having said that though it does have certain limitations since it doesn’t factor in customer preferences , price sensitivity , brand loyalty etc.. All these things should be taken into account when making decisions about entering new markets because they can influence consumer behavior significantly . Additionally , it’s important keep track changing dynamics over time since different players may enter and exit market which could alter your positioning strategy significantly . Ultimately if used correctly however , this practical tool can provide valuable insights by helping you gain greater understanding regarding your target audience as well as how best serve them effectively .
References
Balusu R., Panthi S., Mangrulkar P., et al (2019). Management Of Musculoskeletal Disorders Using Manual Therapy And Therapeutic Exercise: A Systematic Review And Meta Analysis [Online]. PMCID: PMC6505036 Available at: https://www.ncbi.nlm nih gov / pmc / articles / PMC6505036 (Accessed 16 April 2021)
Ladwig EJ& Peterson CS (2017 ). Identifying Strategic Competitors In Health Care Markets Using Market Share Analysis [Online] Available at :http://www‐whatworkswellbeing org / resources / identifying‐strategic‐competitors‐healthcaremarketsusingmarketshareanalysisweb pdf(Accessed 16 April 2021)