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

Author

Listed:
  • Ritu Agarwal

    (University of Maryland)

  • Michelle Dugas

    (University of Maryland)

  • Guodong (Gordon) Gao

    (University of Maryland)

  • P. K. Kannan

    (University of Maryland)

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.

Suggested Citation

  • Ritu Agarwal & Michelle Dugas & Guodong (Gordon) Gao & P. K. Kannan, 2020. "Emerging technologies and analytics for a new era of value-centered marketing in healthcare," Journal of the Academy of Marketing Science, Springer, vol. 48(1), pages 9-23, January.
    • Handle: RePEc:spr:joamsc:v:48:y:2020:i:1:d:10.1007_s11747-019-00692-4
    DOI: 10.1007/s11747-019-00692-4
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    15. Sebastian Hermes & Tobias Riasanow & Eric K. Clemons & Markus Böhm & Helmut Krcmar, 2020. "The digital transformation of the healthcare industry: exploring the rise of emerging platform ecosystems and their influence on the role of patients," Business Research, Springer;German Academic Association for Business Research, vol. 13(3), pages 1033-1069, November.
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    17. Huarng, Kun-Huang & Lee, Cheng-Fang & Yu, Tiffany Hui-Kuang, 2023. "Case study of a healthcare virtual community model," Technological Forecasting and Social Change, Elsevier, vol. 188(C).
    18. Attié, Elodie & Meyer-Waarden, Lars, 2022. "The acceptance and usage of smart connected objects according to adoption stages: an enhanced technology acceptance model integrating the diffusion of innovation, uses and gratification and privacy ca," Technological Forecasting and Social Change, Elsevier, vol. 176(C).

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